Identifying Market Segments and Target Customers

1. Micromarketing aims to

Focus on national campaigns

Avoid customization

Reach broad markets

Tailor products to local or individual customers

2. Behavioral segmentation focuses on

The physical features of a product

Distribution patterns

Why, when, and how customers buy

Competitor advertising

3. Actionable segmentation requires

No marketing effort

The company can design effective programs to attract and serve the segment

Lack of distribution

No clear customer insight

4. The process of selecting one or more segments to enter is known as

Market diversification

Positioning

Market targeting

Product differentiation

5. The STP process stands for

Service, Target, and Product

Segmentation, Targeting, and Positioning

Sales, Training, and Promotion

Strategy, Testing, and Pricing

6. The ultimate goal of segmentation and targeting is

Reducing marketing activity

Delivering greater value to chosen customers profitably

Avoiding competition

Serving every customer equally

7. Differentiated marketing means

Targeting several segments with different offers

Ignoring segmentation

Avoiding product adaptation

Selling one product universally

8. Local marketing involves

Adapting brands to local needs and preferences

Online-only advertising

Global standardization

Ignoring geographic differences

9. A target market refers to

Competitor’s loyal customers

A set of buyers sharing common needs that the company decides to serve

The least profitable customers

Every consumer in the economy

10. Market segmentation is best defined as

Expanding production facilities

Dividing a market into distinct groups of buyers with different needs or behaviors

Pricing products differently for each customer

Selling one product to all customers

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