Identifying Market Segments and Target Customers

1. Benefit segmentation is based on

Price perception

Shopping frequency

Cultural background

The specific benefits consumers seek from a product

2. Behavioral segmentation can include

Occasion, benefits sought, user status, and loyalty

Country and climate

Occupation and income

Age and gender

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

Positioning

Product differentiation

Market diversification

Market targeting

4. Differentiated marketing means

Selling one product universally

Targeting several segments with different offers

Avoiding product adaptation

Ignoring segmentation

5. Micromarketing aims to

Focus on national campaigns

Tailor products to local or individual customers

Reach broad markets

Avoid customization

6. Market specialization strategy involves

Global standardization

Serving one product to all segments

Cost reduction

Serving many needs of a particular customer group

7. The first step in segmentation and targeting is

Set pricing

Choose media channels

Identify segmentation bases and variables

Define product packaging

8. An effective segmentation must be

Measurable, accessible, substantial, differentiable, and actionable

Large, visible, and global

Standard and static

Expensive and complex

9. Market segmentation is best defined as

Pricing products differently for each customer

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

Expanding production facilities

Selling one product to all customers

10. Actionable segmentation requires

Lack of distribution

No clear customer insight

No marketing effort

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

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