IQ #7 MODULE 7 MARKETING MANAGEMENT

COMPANIES CAN CONNECT WITH ALL CUSTOMERS IN LARGE, BROAD, OR DIVERSE MARKETS.

• TRUE

• FALSE

Answer explanation

COMPANIES CANNOT CONNECT WITH ALL CUSTOMERS, AND THAT IS THE REASON WHY THEY NEED TO IDENTIFY THE MARKET SEGMENTS THEY CAN SERVE EFFECTIVELY

IT IS THE SCIENCE OF USING PSYCHOLOGY AND DEMOGRAPHICS TO BETTER UNDERSTAND CONSUMERS.

• COHORT

• VALS

• PSYCHOGRAPHICS

• MULTICULTURAL MARKETING

IN THIS SEGMENTATION BASES, MARKETERS DIVIDE BUYERS INTO GROUPS ON THE BASIS OF THEIR KNOWLEDGE OF, ATTITUDE TOWARD, USE OF, OR RESPONSE TO A PRODUCT.

• DEMOGRAPHIC SEGMENTATION

• GEOGRAPHIC SEGMENTATION

• BEHAVIORAL SEGMENTATION

• PSYCHOGRAPHIC SEGMENTATION

CONSUMERS WHO BUY ONLY ONE BRAND ALL THE TIME.

• HARD CORE LOYALS

• SPLIT LOYALS

• SHIFTING LOYALS

• SWITCHERS

WITH THIS LEVEL, A FIRM ATTEMPT TO SERVE ALL CUSTOMER GROUPS WITH ALL THE PRODUCTS THEY MIGHT NEED.

• MULTIPLE SEGMENT SPECIALIZATION

• SINGLE-SEGMENT CONCENTRATION

• INDIVIDUAL MARKETING

• FULL MARKET COVERAGE

THE ACT OF DESIGNING A COMPANY'S OFFERING AND IMAGE TO OCCUPY A DISTINCTIVE PLACE IN THE MINDS OF THE TARGET MARKET.

• SEGMENTING

• TARGETING

• POSITIONING

• BRANDING

THE PROCESS OF ENDOWING PRODUCTS AND SERVICES WITH THE POWER OF A BRAND.

• BRAND MANTRA

• BRANDING

• BRAND EQUITY

• BRAND IDENTITY

IT CONSISTS OF ACTIVITIES AND PROCESSES THAT HELP INFORM AND INSPIRE EMPLOYEES ABOUT BRANDS.

• BRAND MANTRA

• BRANDING

• BRAND EQUITY

• INTERNAL BRANDING

IT IS THE MARKETER'S VISION OF WHAT THE BRAND MUST BE AND DO FOR CONSUMERS.

• BRAND MANTRA

• BRAND EQUITY

• BRAND PROMISE

• INTERNAL BRANDING

BUILDING BRANDS IS A CHALLENGE FOR A SMALL BUSINESS WITH LIMITED RESOURCES AND BUDGETS.

• TRUE

• FALSE