Lecture 6 - Market segmentation and positioning on B2C and B2B markets

Question 1

What is segmentation?

Answer 1

The process of dividing a market into distinct groups of buyers with common needs or characteristics.

Question 2

What is targeting?

Answer 2

The process of selecting specific market segments to focus marketing efforts on.

Question 3

What are targeting strategies?

Answer 3

1. Undifferentiated: Mass marketing.
2. Differentiated: Serving multiple segments with tailored offers.
3. Concentrated: Focusing on a single niche.
4. Micromarketing: Customizing offers for individual customers.

Question 4

What is a positioning map?

Answer 4

A visual representation of customer perceptions of a brand compared to competitors along key attributes.

Question 5

What are Porter’s generic strategies for competitive advantage?

Answer 5

Cost leadership, differentiation, and focus.

Question 6

What is a positioning strategy?

Answer 6

A strategy to create a unique image for a product in customers’ minds, highlighting its differences from competitors.