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Chapter 7 Flashcards | StudBud
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Chapter 7
Chapter 7
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Answers
1
What is one of the requirements for effective market segmentation?
Segments need to be quantifiable and measurable
Segments must be small
Segments must require the same marketing strategies
Segments should be completely identical
2
Which segmentation method groups consumers based on their lifestyle and personality traits?
Demographic Segmentation
Geographic Segmentation
Behavioral Segmentation
Psychographic Segmentation
3
The primary goal of a positioning strategy is to create entirely new concepts rather than leverage existing perceptions.
False
True
4
Which value proposition promises additional value at the same price as competitors?
More for the Same
Less for Much Less
More for More
The Same for Less
5
What does it mean for a segment to be "actionable" in marketing?
Segments should consist of a large number of customers
Strategies should be feasible and implementable
Strategies should require minimal resources
Segments must be homogeneous
6
What is the primary goal of market segmentation?
To divide the market into smaller, manageable segments
To create a single marketing strategy
To reduce competition
To increase production costs
7
Which of the following is a risk associated with undifferentiated marketing?
Being undercut by more focused firms
Increased brand loyalty
Higher promotion costs
Limited market exposure
8
Which of the following factors is NOT considered when evaluating the structural attractiveness of a market segment?
Potential substitutes
Number of competitors
Power of buyers
Seasonal demand
