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1. Which of the following is NOT a part of the segmentation, targeting and positioning process? Conducting exclusively the balance sheet analysis

2. The first step in the segmentation process is to clearly articulate the vision or the ______ of the company's marketing strategy. objectives

3. The reason firms use market segmentation is to enable a better: understanding of the consumer

4. Which of the following is NOT a market segmentation approach? Political

5. __________ groups people based on easily measured, objective information, such as age, gender, etc. Demographic segmentation

6. What is the first step in the segmentation, targeting and positioning process? Establish overall strategy or objectives

7. Segmentation methods use a particular method or combination of methods to segment the market. This step also develops descriptions of the _______ segments, which helps firms to better understand the customer profiles in each segment. different

8. Which of the following are marketing segmentation approaches? Psychographic Geographic

Benefits 9. Market differences across continents create opportunities for: geographic segmentation 10. Psychographics is a segmentation method that delves into how consumers actually ________ themselves. describe 11. If self-values provide an end goal and self-concept is the way we see ourselves, __________ is how we live our lives to achieve goals. lifestyle

12. ______ segmentation forms market segments based on the way consumers use a product, such as more frequently or with greater loyalty compared to other products. Behavioural

13. Psychographic segmentation is a method that delves into how consumers actually describe themselves, and their attitudes, interests and activities.

14. Lifestyles are not part of psychographic segmentation. False

15. Firms are finding that psychographic segmentation is often more useful for predicting consumer behaviour than demographics. This is because people who share demographics often have _____________ psychological traits. different

16. A loyalty segment refers to the group of customers who feel that a brand can meet their needs and are willing to exclude competitors from consideration.

17. Suppose that Coca-Cola was to divide its market into segments based on the amount of soft drink consumers drink (heavy, medium and occasional consumption). What type of segmentation does this represent? Behavioural

18. Which of the following are criteria considered by marketers to evaluate whether or not a segment is worth pursuing? Reachable Profitable Identifiable

19. It is important to ensure that segments are distinct from one another because too much overlap between segments means that: distinct marketing strategies are unnecessary to meet segment members' needs

20. Psychographic segmentation takes into account: how people describe themselves 21. Which of the following are factors that could lead to potentially profitable segments being overlooked? Multiple select question. Organisational strategy Resource constraints Customer resistance

22. Loyal customers buy a substantial amount from the firm. These loyal customers are the most ______ in the long term to the firm. profitable

23. Which of the following is NOT a key requirement that a marketing segment must meet? Profitable

24. Another term for an undifferentiated targeting strategy is mass marketing.

25. Why do firms need to identify who is in their market through segmentation? To be able to design goods and services that meet the market's needs

26. Market positioning is done so that the target customers have an understanding of the product offered by the company in comparison with: competitors' products

27. The positioning strategy of value is based on the relationship between price and quality.

28. A firm can use a SWOT analysis to assesses attractiveness of a target market in light of its own competencies and trends in the external environment.

29. A display in two or more dimensions that shows the position of products or brands in the consumer’s mind is called a: perceptual map

30. When firms sell commodities or products that are considered the same as those of its competitors, it should use a(n) ____________ targeting strategy. undifferentiated 31. Which is the ultimate step in any market segmentation strategy? Developing a positioning strategy

32. Value is a popular positioning method and is the most important consideration for consumers when they make a purchase decision based on: price and quality

33. What do perceptual maps measure specifically? The positioning of a company's products or brand relative to competitors in the market

34. What does a firm do to assess the target market in light of its own competencies? It uses a SWOT analysis

35. Why is a perceptual map used when developing a positioning strategy? To display the position of products or brands in the consumer's mind

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