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Market Segmentation Strategies Flashcards | StudBud
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Market Segmentation Strategies
Market Segmentation Strategies
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Test your knowledge and learn the key concepts of marketing strategy
Flashcards
7 cards
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Questions
7
Answers
1
What are the specific steps to reach a goal called?
Goals
Objectives
Strategies
Tactics
2
What is the best way to gain an advantage over a competitor?
More ads
Increasing branding
Unique positioning
Lower prices
3
What role of 'Economic Factors' in PESTLE?
Design products
Employee training
Affect product success
None of these
4
Why perform a PESTLE analysis?
Understand external factors
Increasing the brand trust of a business
To improve future product design
Increase sales and revenue of a business
5
What does 'L' in PESTLE stand for?
Legal Factors
Logistic Factors
Language Factors
Lifestyle Factors
6
What does S.M.A.R.T. stand for in goal setting?
Specific, Measurable, Achievable, Relevant, Timely
Strategic, Measurable, Actionable, Relevant, Timely
Simple, Meaningful, Ambitious, Realistic, Timely
Successful, Motivating, Ambitious, Realistic, Timely
7
Main purpose of marketing strategy?
Drive revenue for the business
Hiring specific staff members
Cutting costs for a business
Buying assets for the business
