Marketing

Which of the following best describes market segmentation?

• Selling products to a diverse range of customers

  
  

• Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors

  
  

• Focusing on a single marketing strategy for all customers

  
  

• Increasing the price of products to target high-income consumers

  
  

Positioning in marketing involves:

• Setting the price of products higher than competitors

  
  

• Identifying target market segments based on income levels

  
  

• Creating a distinct image and identity for a product in the minds of consumers

• Expanding distribution channels to reach a wider audience
  

Which of the following statements about targeting is true?

• Targeting involves developing a marketing mix that appeals to all potential customers

  
  

• Targeting aims to identify the specific needs and preferences of a target market segment

• Targeting is only relevant for businesses with limited resources

  
  

• Targeting focuses on increasing market share through aggressive advertising

  
  

Market segmentation involves dividing a market into smaller, homogeneous groups of consumers with similar needs and preferences.

• True

• False

• Maybe

Over-segmentation can lead to increased marketing costs and inefficiencies without generating significant benefits.

• True

• False

• Maybe

Psychographic segmentation is primarily concerned with consumers' physical location and proximity to distribution channels.

• False

• True

• It depends

You are a marketing manager for a tech company launching a new smartphone targeted at young professionals. Your research indicates that this demographic values both functionality and style in their devices. How would you position the new smartphone in the market?

• Emphasize the advanced technological features and performance capabilities of the smartphone.

  
  

• Focus on the sleek design, trendy aesthetics, and fashionable accessories available with the smartphone.

  
  

•  Highlight the affordability and value for money offered by the smartphone.

  
  

• Promote the environmental sustainability and eco-friendly materials used in the production of the smartphone.

  
  

You are a marketing manager for a luxury car brand planning to expand into emerging markets in Asia. Your research indicates that consumers in these markets prioritize status symbols and brand prestige. How should you adapt your marketing strategy to appeal to this audience? Which aspect of the luxury car brand's marketing strategy should be emphasized?

• Highlight the advanced technological features and performance capabilities of the luxury cars.

  
  

• Offer discounts and promotional deals to make the luxury cars more affordable for consumers in emerging markets.

  
  

• Emphasize the heritage, craftsmanship, and exclusivity associated with the luxury car brand.

  
  

• Focus on the environmentally friendly and sustainable production practices of the luxury car brand.

  
  

A company is considering expanding its product line to target a new market segment. Which of the following factors should the company consider when evaluating the potential success of this expansion?

• The size and growth potential of the new market segment.

  
  

• The cost of production and distribution for the new product line.

  
  

• The company's existing brand reputation and customer loyalty.

  
  

• The level of competition in the new market segment.

Which of the following is an example of behavioral segmentation?

• Dividing customers based on their occupation

  
  

• Targeting customers who frequently purchase online

  
  

• Segmenting customers based on their gender

  
  

• Focusing marketing efforts on customers aged 18-24