Chapter 7

Question 1

Market segmentation process

Answer 1

Identify groups with similar wants and needs

design appropriate marketing mixes

Allocating resources

Consistent with marketing concept

Question 2

Geographic segmentation looks at

Answer 2

Region of world, country
market size, density
climate

Question 3

Demographic segmentation

Answer 3

age
gender
income 
ethnic background 
occupation 
family life cycle

Question 4

Psychographic Segmentation

Answer 4

personality
motives
lifestyles
Geodemographics

Question 5

Bases for segmenting business markets

Answer 5

Company characteristics

Buying process

Question 6

Effective segmentation criteria

Answer 6

responsiveness
accessibility
identifiable
sustainability

Question 7

Different strategies to segment

Answer 7

MUCO

Multisegment
Undifferentiated
Concentrated
One-to-one

Question 8

Product differentiation

Answer 8

what distinguished product from the competition

Question 9

Repositioning

Answer 9

Changing the consumers perception of a brand in relation to competing brands

Question 10

Position statement

Answer 10

PRFT - PERFECT

point of difference
reason to believe
frame of reference
target consumers