Identifying Market Segments and Target Customers

1. Behavioral segmentation can include

Country and climate

Age and gender

Occasion, benefits sought, user status, and loyalty

Occupation and income

2. An effective segmentation must be

Expensive and complex

Measurable, accessible, substantial, differentiable, and actionable

Large, visible, and global

Standard and static

3. Behavioral segmentation focuses on

Competitor advertising

The physical features of a product

Distribution patterns

Why, when, and how customers buy

4. Local marketing involves

Adapting brands to local needs and preferences

Global standardization

Online-only advertising

Ignoring geographic differences

5. The STP process stands for

Service, Target, and Product

Strategy, Testing, and Pricing

Segmentation, Targeting, and Positioning

Sales, Training, and Promotion

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

Market diversification

Positioning

Product differentiation

Market targeting

7. A target market refers to

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

Competitor’s loyal customers

Every consumer in the economy

The least profitable customers

8. The purpose of market segmentation is to

Standardize all marketing messages

Increase overall costs

Avoid competition

Identify and target specific customer groups effectively

9. Micromarketing aims to

Focus on national campaigns

Avoid customization

Tailor products to local or individual customers

Reach broad markets

10. Market targeting involves

Conducting internal training

Outsourcing sales

Choosing which segments to serve and how

Defining total market

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