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BUSML 3250 CH 7 Exam Questions and Answers
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BUSML 3250 CH 7 Exam Questions and Answers
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BUSML 3250 CH 7 Exam Questions andAnswers
Market segmentation - Answer-dividing market into smaller segments with distinct
characteristics or needs
Market targeting - Answer-looking at market attractiveness and selecting one or more to
enter
Differentiation - Answer-differentiating market offering to create superior customer value
Positioning - Answer-arranging for a market to occupy a clear, distinctive and desirable
place relative to competing products in the minds of target consumers
Geographic segmentation - Answer-dividing market into different geographical units
Demographic segmentation - Answer-ex: age, gender, income, ethnicity
Age and life cycle segmentation - Answer-different age and life cycle groups
Gender segmentation - Answer-based on gender
Income segmentation - Answer-based on income
Psychographic segmentation - Answer-based on social class, lifestyle or personality
Behavioral segmentation - Answer-based on consumer knowledge, attitudes, uses,
responses
Occasion segmentation - Answer-segmenting based on occasions when buyers get the
idea to buy or purchase a certain item
Benefit segmentation - Answer-segmenting based on different benefits that consumers
seek from the product
Intermarket segmentation - Answer--aka cross market
-have similar needs and buying behaviors even though they are located in different
countries
Target market - Answer-set of buyers sharing common needs or characteristics that the
company decides to serve
Undifferentiated marketing - Answer--aka "mass"
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