What is the fundamental difference between market segmentation and differentiation?

• Segmentation divides the market; differentiation makes the product unique.

• Segmentation is for B2B; differentiation is for B2C.

• Segmentation involves product branding; differentiation involves resource allocation.

• Segmentation is a one-time process; differentiation is continuous.

Which of the following is not a basis for segmenting the consumer market?

• Geographic characteristics.

• Psychographic characteristics.

• Technographic characteristics.

• Behavioral characteristics.

what is the process of grouping buyers' common desires or needs into different categories?

• Product Positioning.

• Market Segmentation.

• Differentiation.

• Branding.

In the 7 steps of market segmentation, which step immediately follows 'Formulate Narrower Markets'?

• Identify and Make an Inventory of Potential Customer's Needs.

• Evaluate the Behavior of Market Segments.

• Identify the Dimensions.

• Estimate the Size of Each Market Segments.

Which concept is defined as the form of marketing that presents the benefits of your product to a particular target audience?

• Market Segmentation

• Differentiation

• Product Positioning

• Marketing Programme

Which statement reflects a step in 'Managing Differentiation'?

• Estimating the size of each market segment.

• Branding each product based on benefits offered to customers.

• Identifying and naming the broad market.

• Evaluating the behavior of market segments.

A firm gains better assessment of the competition and better allocation of resources as a result of what?

• Product Positioning

• Managing Differentiation

• Market Segmentation

• Promoting a Product in a New Market Segment

Which of these is not part of the checklist for developing positioning strategies?

• Opportunities

• Competition

• People/Personnel

• Company

what is the 'essence of successful marketing efforts'?

• Better allocation of resources.

• Improved consumer relationship.

• Creating a competitive edge with regard to the product or service.

• Matching the product or service with the right market.

To make a product or service more marketable, a marketer must differentiate which of the following?

• Cost-cutting and customer retention.

• People, physical environment, and the process of service delivery.

• Brand position and the marketplace.

• Opportunities and decisions.