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MBA 706 - Exam 3 with Complete Solutions
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MBA 706 - Exam 3 with Complete Solutions
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MBA 706 - Exam 3 with Complete SolutionsMultiple Segmentation CORRECT ANS-Firms target different segments with a unique
marketing mix for each segment.
Procedures of Segmentation CORRECT ANS-1. Survey Stage
2. Analysis Stage
3. Profiling Stage
Survey Stage CORRECT ANS-understand consumer motivations, attitudes, and behavior
Analysis Stage CORRECT ANS-identify consumer groups with similar characteristics
Profiling Stage CORRECT ANS-Profile each group in terms of their attitudes, behavior,
demographics, psychographics and media habits
Factors affecting the feasibility of segmentation CORRECT ANS-A marketing segment must
be: measurable, accessible, substantial, unique, appropriate, and stable
Bases for Segmentation CORRECT ANS-•Geographic and geodemographic
•Demographic
•Behavioral
•Psychographic
Geographic CORRECT ANS-One of the easiest and most commonly used methods. Markets
are divided into groups based on region, climate, population density.
Geodemographic CORRECT ANS-Combine geographic and demographic factors. Target
consumers in particular areas with similar behavior patterns - "Birds of a feather flock
together"
, MBA 706 - Exam 3 with Complete Solutions
Demographic CORRECT ANS-Markets are divided using demographic variables such as
income, age, gender, educational attainment, occupation, religion, race, nationality,
family/household characteristics, etc.
Behavioral CORRECT ANS-Markets are divided based on behavioral measures such as
attitudes, knowledge, benefits sought, willingness to innovate, loyalty status, usage rates, etc.
Benefit Segmentation CORRECT ANS-Based on the benefits that consumers seek from a
product. Ex: Toothpaste segmentation based on benefits like teeth whitening, cavity
protection, etc.
User Status CORRECT ANS-Markets can be divided on the basis of user status, including
non-users, first-time users, and regular users.
Loyalty Status/Brand Enthusiasm CORRECT ANS-Markets are divided on the basis of the
extent and depth of their loyalty to particular brands or stores. Ex: Airline frequent flyer
programs.
Psychographic CORRECT ANS-Markets are divided using psychographic characteristics such
as personality, value, lifestyle, etc. Ex: Car manufacturers; Gap (BR, Gap, Old Navy, Athleta,
Hill City, Janie and Jack).
Factors to consider after segmentation CORRECT ANS-Size and growth potential of each
segment, structural attractiveness, organization's objectives and resources
Five patterns of market coverage CORRECT ANS-•Single segment concentration
•Selective specialization
•Product specialization
•Market specialization
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