segmenting consumer markets

Question 1

steps for market segmentation

Answer 1

1. Identify bases

2. develop profiles of resulting segments

Question 2

steps for market targeting

Answer 2

1. develop measures of segment attractiveness

2. select target segment(s)

Question 3

steps for market positioning

Answer 3

1. develop positioning for each target segment

2. develop marketing mix

Question 4

marketing segmentation involves:

Answer 4

dividing heterogeneous market up into group with distinct needs, characteristics or behaviour

Question 5

target marking involves:

Answer 5

evaluating segments attractiveness and selecting the ones in which serve profitability to company and which one we want to aim at

Question 6

market positioning involves:

Answer 6

arranging for a product to competing products in the minds of target consumers, occupy a specific space in their mind

Question 7

geographic

Answer 7

products based on potential consumers country, state,region, city or neighbourhood (different cultures)

Question 8

demographic

Answer 8

products based on potential consumers age, gender, income etc

Question 9

geodemogrpahic

Answer 9

products based on where potential consumers live

Question 10

psycho-graphic or lifestyle

Answer 10

products based on potential consumers activities, interests, opinions, demographics

Question 11

behavioural

Answer 11

products based on potential consumers end use, benefits, usage rate, loyalty and attitude to product and brand

Question 12

benefits of STP

Answer 12

• customers have a tailored marketing mix

- organisation will now where to focus their money and resources, competitive rivalry