Chapter 9 – Market Segmentation, Targeting, and Positioning

Question 1

Main types of sales forecasting techniques

Answer 1

1. Judgements of the decision maker
2. Surveys of knowledgeable groups
3. Statistical methods

Question 2

Steps of Positioning the product

Answer 2

• Writing a positioning statement
• Product positioning using perceptual maps
• Product repositioning

Question 3

Steps in segmenting and targeting markets

Answer 3

• Step 1: Group potential buyers into segments and ways to segment customer markets
• Step 2: Group products to be sold in categories
• Step 3: Develop a market-product grid and estimate size of markets
• Step 4: Select target markets
• Step 5: Take marketing actions to reach target markets

Question 4

What does market segmentation mean

Answer 4

The process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers

Question 5

When to segment markets

Answer 5

• One product and multiple market segments
• Multiple products and multiple market segments
• Segments of one: Mass customization