Identifying Market Segments and Target Customers

1. The ultimate goal of segmentation and targeting is

Reducing marketing activity

Serving every customer equally

Delivering greater value to chosen customers profitably

Avoiding competition

2. The purpose of market segmentation is to

Identify and target specific customer groups effectively

Increase overall costs

Standardize all marketing messages

Avoid competition

3. Market targeting involves

Choosing which segments to serve and how

Defining total market

Conducting internal training

Outsourcing sales

4. Local marketing involves

Adapting brands to local needs and preferences

Online-only advertising

Global standardization

Ignoring geographic differences

5. The first step in segmentation and targeting is

Choose media channels

Identify segmentation bases and variables

Define product packaging

Set pricing

6. Behavioral segmentation can include

Occupation and income

Age and gender

Occasion, benefits sought, user status, and loyalty

Country and climate

7. Benefit segmentation is based on

Price perception

The specific benefits consumers seek from a product

Cultural background

Shopping frequency

8. The STP process stands for

Sales, Training, and Promotion

Strategy, Testing, and Pricing

Segmentation, Targeting, and Positioning

Service, Target, and Product

9. Micromarketing aims to

Avoid customization

Tailor products to local or individual customers

Focus on national campaigns

Reach broad markets

10. Individual marketing (one-to-one) focuses on

Ignoring customer feedback

Producing large-scale goods

Customizing products for individual customers

Reducing costs through standardization

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