LECTURE 6 - SEGMENTATION

Question 1

Define segmentation

Answer 1

dividing a market into distinct groups with similar needs or characteristics

Question 2

criteria for effective segmentation

Question 3

criteria for effective segmentation

Answer 3

1. measurable: segment size and purchasing power can be quantified
2. accessible: segments can be effectively reached
3. substantial: segments are large enough to be profitable
4. differentiable: segments must respond differently to marketing strategies
5. actionable: effective strategies can be designed to attract segments

Question 4

levels of targeting

Answer 4

• mass marketing: a single product for the entire market
• differentiated marketing: multiple products for different segments
• niche marketing: focusing on a small, specialized market
• micromarketing: tailoring products to suit individual customers or localized areas

Question 5

customer persona

Answer 5

a fictional but realistic description of a typical customer in a segment, used to humanize the audience

Question 6

define positioning

Answer 6

the place a product occupies in the consumer’s mind relative to competitors

Question 7

define differentiation

Answer 7

highlighting unique features or benefits

Question 8

define service differentiation

Answer 8

offering superior customer service or convenience

Question 9

define price differentiation

Answer 9

premium or value pricing

Question 10

define distribution differentiation

Answer 10

exclusive distribution or widespread availability

Question 11

define customer experience differentiation

Answer 11

memorable experiences, social media engagement

Question 12

define sustainability differentiation

Answer 12

emphasizing eco-friendly engagement

Question 13

define perceptual/positioning map

Answer 13

a visual representation of consumer perceptions based on important attributes. Used for identifying positioning gaps