Unit 4.1 Market Strategy

A marketer should focus on all the following factors for planning a marketing strategy - EXCEPT for one

• Market Segmentation

• Target Marketing

• Communicating the market strategy

• Target Audience

A pizza company divide the target market into different cities and provide different local specials for different cities. What is the basis of their market segmentation?

• Behaviourial.

• Geographic.

• Psychographic.

• Demographic.

Why do some fast-food chains offer different menu items in different countries?

• Demographic preferences for different food types.

• Cost considerations in different countries.

• Supply chain limitations in different countries.

• Test market on different menu items.

What is the primary purpose of conducting market research before launching a new product?

• To identify potential competitors.

• To understand customer interests and needs.

• To reduce production costs.

• To confuse the target audience.

When a business engage a proper market strategy, the business benefits in all the following ways except for ONE.

• Help companies to gain sustainable competitive advantage.

• Help companies save operational costs.

• Help companies sell Products/Service.

• Help companies promote Products/Service.

How can market segmentation help a business in targeting specific customer groups?

• By increasing production costs.

• By reducing customer satisfaction.

• By customizing marketing strategies.

• By ignoring customer preferences.

What role does target marketing play in a company's marketing strategy?

• It helps in reaching out to all customers equally.

• To maximize limited resources like marketing budget, on the target audience.

• To reduce operational costs.

• To increase brand awareness on the target audience.