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MGT 103: Chapter 9 (STP) Questions And Answers
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MGT 103: Chapter 9 (STP) Questions And Answers Segmentation: Linking Needs to Actions The process of segmenting a market and selecting specific segments as targets is the link between the various buyers' needs and the organization's marketing program - leads to tangible marketing actions th...

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  • October 23, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mgt 103 chapter 9 stp questions and answers

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MGT 103: Chapter 9 (STP) Questions And
Answers

Segmentation: Linking Needs to Actions The process of segmenting a market and

selecting specific segments as targets is the link between the various buyers' needs and the

organization's marketing program




- leads to tangible marketing actions that can increase sales and profitability




market-product grid a framework to relate the market segments of potential buyers to

products offered or potential marketing actions




When and How to Segment Markets - a business segments its markets *when* it expects

that this extra effort will increase its sales, profit, and return on investment

- when expenses > potentially increased sales from segmentation, a firm should *not* attempt to

segment its market




1. One Product and Multiple Market Segments

2. Multiple Products and Multiple Market Segments (Ford having multiple models)

3. Segments of One (Mass Customization)

, MGT 103: Chapter 9 (STP) Questions And
Answers
One Product and Multiple Market Segments Pros: Avoids the extra costs of developing

and producing additional versions of the product.




Example: Magazines/Books

- Although separate covers for magazines or separate advertisements for books (to attract the

different market segments) are expensive, these expenses are minor compared with the costs of

producing multiple versions of magazines or books for several different market segments




Multiple Products and Multiple Market Segments Example: Ford's different lines of cars,

SUVs, and pickup trucks are each targeted at a different type of customer




Pros: very effective if it meets customers' needs better, doesn't reduce quality/increase price, and

adds to sales revenues and profits




Cons: The proliferation of different models and options can reduce quality and raise prices—

especially in relation to foreign imports (this is why Ford reduce the number of models/options

they have)

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