Module 11 & 12: Targeting and Positioning

Question 1

Target Marketing

Answer 1

occurs when marketers evaluate each market segment and determines which segments present the most attractive opportunity to maximize sales

Question 2

Marketing Segmentation

Answer 2

the process of dividing a larger market into smaller groups, based on meaningfully shared characteristics

Question 3

Targeting Markets

Answer 3

helps firms design specific marketing strategies

Question 4

Positioning

Answer 4

consumers compare products and brands based on benefits

Question 5

Growth Potential

Answer 5

the higher the future growth rate, the more attractive the segment

Question 6

Level of Competition

Answer 6

the more intense the competition within a segment, the less attractive the segments are to marketers

Question 7

Strategic Fit

Answer 7

marketers should work to ensure that the selected target market fir with what the organization is and wants to be

Question 8

Undifferentiated Targeting Strategy

Answer 8

approaches the market place as one target segment

Question 9

Differentiated Targeting

Answer 9

occurs when an organization simultaneously pursues several different market segments, usually with a different marketing mix strategy for each

Question 10

Niche Marketing

Answer 10

involves targeting a large share of a small market segment

Question 11

Product Position

Answer 11

the way a product is defined by consumers on important attributes

Question 12

Competitive Advantage

Answer 12

an advantage over competitors gained by offering greater customer value either by having lower prices or by providing more benefits that justify higher prices

Question 13

Key Steps to Effective Market Positioning

Answer 13

1. analyze competitors’ position
2. highlight competitive advantage
3. evaluate consumer feedback and understand its importance

Question 14

Repositioning

Answer 14

involves reestablishing a product’s position to respond to changes in the marketplace