Geographical segmentation is very simple, but can usefully be combined with socio-demographic segmentation. Both of these methods are most useful for convenience goods and are not, therefore likely to be very useful to Salim. 201 : Marketing Manageinent I. Explain Marketing Orientation and give the functions of a Marketing Manager. Salim has decided that his company will benefit if he focuses on those customers who can provide higher profit margins. The process of splitting up a business into different departments. Much work has already been done on this approach, in the ACORN system, for example, and Salim would be able to buy in the basic information he needs. Can he reach the potential customers? Example Exam Questions: Marketing Research. Distribution Channels Serious consideration will have to be given to how customers will be able to view, order and receive delivery of the products. This can be achieved by looking at the factors that make up the marketing mix: product, price, place and promotion. b. Make sure to bring a blue book and a pen for writing your answers. The structure and length of this document is not representative for the final exam. Market Segmentation Exam Questions. This highlights that the nature of the products in the new range will need to meet the demands of the new target market. Additionally there has been a noticeable trend towards working from home. These goods have a higher unit value than convenience goods and are bought less frequently, usually after some thought and consideration have been expended. Q1. 48 Vitosha Boulevard, ground floor, 1000, Sofia, Bulgaria Bulgarian reg. ABSTRACT In this way, preferred segments can be targeted. Segment Validity A market segment will only be valid if it is worth designing and developing a unique marketing mix for that specific segment. Match. Steps 3 and 4 are in targeting Step 5- Identify positioning concepts for each target segment Step 6 – Select develop and communicate the chosen concept Steps 5 and 6 are in positioning Segmentation variables fall into a small number of categories. Its consultant, Dr. Bell, contends that this particular approach is the one most easily copied by the firm’s competitors. Bachelor’s Thesis in International Business,64 pages Which approach is the best to test a new product idea? Essex Office Products has decided to use a particular competitive tool that it feels will have a major impact. A target market is a particularly attractive segment that will be served with a distinct marketing mix. QUESTION AND ANSWER ON MARKET SEGMENTATION Salim Brommer is the Marketing Director of Ashkol Furniture Supplies, a medium-sized company which specializes in manufacturing office furniture. The design of the marketing mix should be decided on the basis of management intuition and judgment, together with information provided by market research. Be sure to fully explain your answers using economic reasoning and any equations and/or graphs needed to make your point. Terms in this set (10) Market Segmentation. "Marketing Management MCQ" with answers includes fundamental concepts for theoretical and analytical assessment tests. Salim will have to be sure of several things about his chosen target market: Is it large enough to be profitable? Others counter that there will always be room for large brands that employ marketing programs targeting the mass market. All questions carry equal marks, Q. Once you have completed the test, click on 'Submit Answers for Grading' to get your results. Naipaul in 1979. A furniture showroom would be part of this but a wider approach will be needed. Be sure to fully explain your answers using economic reasoning and any equations and/or graphs needed to make your point. Target Market Segmentation Research Paper-Gap Inc. Marketing Chapter 7: Market Segmentation, Targeting, & Positioning (Class Notes), Market Definition, Segmentation, & Targeting, Marketing: Chapter 9 Market Segmentation, Targeting, and Positioning, MK 201 Marketing Strategy: Segmentation, Targeting, and Positioning, Marketing and Segmentation Demographic Segmentation. Using a suitable model of your choice, develop a marketing approach which Salim might use to enter this new market. Answer BOTH questions. PLAY. The process of dividing a market into meaningful, relatively similar, and identifiable segments or groups. Q. Introduction Hire a subject expert to help you with Exam Question and Answer on Market Segmentation. We know that sometimes it's hard to find inspiration, so we provide you with hundreds of related samples. It is important that the price should be competitive so Salim should investigate the prices being charged by competitors who have similar product ranges. For example, Ashkol would struggle to develop a luxury brand image if they set price at a low, penetration level. Spring 2013 The aim is to make the customer perceive the product as different from its competitors. quiz which has been attempted 525 times by avid quiz takers. These Marketing Management Objective Questions with Answers are important for competitive exams UGC NET, GATE, IBPS Specialist Recruitment Test. There are fifteen multiple choice questions that explore the meaning of market segmentation and the different examples of how the market can be segmented (e.g. • Marketing Plans (Questions related to conducting a SWOT analysis, developing a marketing plan, customer segmentation, and the 4 P's) • New Products (Questions related to the product development process, test markets, product life cycle, consumer groups, product mix, and new product launch) Will it enable him to build on the company’s strengths? (2) Place. Questions & Answers on Marketing Management Q.1. Practice exam questions The Edge in AQA A Level Business - Paper 1 MCQ Blast: Test 5: Theories and Models This is a recording of the recent Edge Revision Webinar for AQA A Level students covering a range of theories and models from the whole of the AQA specification. Establishing a suitable distribution system is going to be one of Salim’s largest tasks. Increasingly, private households, particularly those with computers, are converting spare rooms into office-style areas. Areas to consider here are design (size, shape) and features. Promotion involves arousing attention, generating interest, inspiring desire and initiating action. View Answer / Hide Answer. "Marketing … An aid to this is to try to identify gaps in the market by considering the mix of the product attributes such as price, applications, users, occasions for use and specific aspects of quality may be drawn to refine knowledge of product position. For example, Ashkol would struggle to develop a luxury brand image if they set price at a low, penetration level. ١ Managing Marketing Strategy BM530 Revision Essay Questions Chapter 8: Market Segments and Targeting Explain each of the following: 1) Bases of segmenting the consumer market. Question 4: With marketers increasingly adopting more and more refined market segmentation schemes – fueled by the Internet and other customization efforts- some critics claim that mass marketing is dead. The company now needs to develop a suitable marketing strategy to succeed in this new area and maintain a sustainable competitive advantage. * There are numerous home style magazines in which adverts can be placed. (3) Pursuit. The design of the marketing mix should be decided on the basis of management intuition and judgment, together with information provided by market research. Make sure to bring a blue book and a pen for writing your answers. Dividing a larger market into smaller markets that are similar in important ways is an example of market segmentation. The company now needs to develop a suitable marketing strategy to succeed in this new area and maintain a sustainable competitive advantage. Please enter your name to start the test ! A Bend in The River is a book published by V.S. Missed a question here and there? This section contains TWO questions. Target Corp. Strategic Analysis MAN4720 Section 22 -Wednesdays 7:30pm Team: Risky Business Christine Majewski Jake Morgan Kristin Stearker Cory Verez Executive Summary ?The purpose of this analysis is to inform. The process of splitting the market into different groups or segments based on the needs, characteristics or buyer behavior is called as Segmentation (Kotler, Brown, Adam, and Armstrong, 2007). 1. Note that we do not provide answers to these questions. His products are bulky and will therefore have to be transported by ship from India to Europe, probably in freight containers, which will impose a minimum economic scale of shipment. There are numerous home style magazines in which adverts can be placed. However, it has recently experienced intense competition from … The Is the segment stable enough to justify resources being spent on it? Questions for MKTG 430 Mid-Term Exam The mid-term exam will be held in class on October 12th. The company makes its products in India, so benefiting from relatively low labour costs. Marketing communication involved in this could be advertising, public relations, direct selling or sales promotion. Internal Analysis It is important to assess company strengths when evaluating attractiveness and targeting a market. Distribution Channels Serious consideration will have to be given to how customers will be able to view, order and receive delivery of the products. Suggested Answer Salim needs to develop a marketing strategy for entry into the domestic market in Europe. This can be achieved by looking at the factors that make up the marketing mix: product, price, place and promotion. Organising and designing the marketing communication effort will almost certainly require input from someone familiar with the European market. Because of limited resources, competition and large markets, organisations are not usually able to sell with equal efficiency and success to every market segment. can use them for free to gain inspiration and new creative ideas for their writing assignments. custom marketing Incorrect. DEVELOPMENT STUDIES 1150 REVISION QUIZ QUESTIONS AND ANSWERS. Answer outline and marking scheme for question: 2. a) To enable segmentation of the market, so that the marketing is more effective in that marketing is targeted at a specific audience. Kotler identified six steps: Step 1- Identify segmentation variables and segment the market Step 2- Develop segment profiles Steps 1 and 2 are in segmentation Step 3- Evaluate that attractiveness of each segment Step 4- Select the target segment(s). Salim should try to specify the segment of the customer market into which he wishes to sell his products with some care, since this will influence important decisions about all the elements of the marketing mix, including such things as product design, marketing communications, price and distribution methods. INTRODUCTION Gravity. Essay on Exam Question and Answer on Market Segmentation Salim Brommer is the Marketing Director of Ashkol Furniture Supplies, a medium-sized company which specializes in manufacturing office furniture. ANSWER: (2) Place. Types of promotion * Direct promotion via mailing lists may be appropriate, although because Salim has no experience in this market, he would probably have to buy the list which may make this an expensive option. Market Segmentation, Targeting and Positioning Quiz. This quiz has been developed to test your knowledge about Market segmentation, positioning, and … Retrieved from https://phdessay.com/exam-question-and-answer-on-market-segmentation/, Exam Question and Answer on Market Segmentation. Test your understanding of Market segmentation concepts with Study.com's quick multiple choice quizzes. Get help with your Market segmentation homework. Each question is worth 10 marks. It is unlikely that Salim will be able to identify a market segment where there is no direct competitor, so it will be necessary to position the product line in such a way as to create of some form of product differentiation. Created by. These are exemplary questions you could expect in the exam. Dear Readers, Welcome to Marketing Interview questions with answers and explanation. This thesis provides a strategic marketing plan for an event management company, which represents service business organizations. Market Segmentation. Final Exam, Spring 2007 Bonham Answer the following essay questions in three to four blue book pages or less. Furniture showrooms are necessarily large areas and need to be in areas where customers will be attracted. Establishing a suitable distribution system is going to be one of Salim’s largest tasks. benefit segmentation Incorrect. This saves employers incurring the costs of office provision, and also employees save on travel and can also work at times convenient to themselves. (5 marks) In this way, preferred segments can be targeted. Test your understanding of Market segmentation concepts with Study.com's quick multiple choice quizzes. List of 200+ marketing objective type or multiple choice (MCQ) question and answers! Salim has decided that his company will benefit if he focuses on those customers who can provide higher profit margins. Place Place deals with how the product is distributed, and how it reaches its customers. This post covers marketing multiple choice questions with answers and explanation. (5) Plan. Singapore Airlines (SIA) has used traditional approach adopted by legacy carriers for segmentation. The company makes its products in India, so benefiting from relatively low labour costs. Product Positioning. (4) Promotion. Your answers … Required: a. Start studying MARKETING 309 EXAM 2 DR. MOUNTAIN. For example, it may need to be smaller and made of better quality material. Both of these methods are most useful for convenience goods and are not, therefore likely to be very useful to Salim. ... _____ is a market segmentation … Others counter that there will always be room for large brands that employ marketing programs targeting the mass market. Define and explain exploratory, descriptive, and causal research designs. Can the segment be reached profitably? … a.INDUSTRY BACKGROUND Information Technology is increasingly moving to the center of national competitiveness strategies around the world, due to its ground-breaking power as a significant enabler. b. He has decided to target domestic customers in Europe. Psychographic segmentation is not based on objective data so much as how people see themselves and their subjective feelings and attitudes towards a particular product or service, or towards life in general. Segment Validity A market segment will only be valid if it is worth designing and developing a unique marketing mix for that specific segment. Part of The target market is people working from home and the promotional methods used should be appropriate to this market. See Page 192 of the text for more information. The process of splitting the market into different groups or segments based on the needs, characteristics or buyer behavior is called as Segmentation (Kotler, Brown, Adam, and Armstrong, 2007). It is helpful in creating marketing communications plans and assist marketers to deliver messages to engage with different audiences. The behavioural approach segments buyers into groups based on their attitudes to and use of the product, and the benefits they expect to receive. Other and they must be integrated and identifiable segments or groups between market segmentation questions to the target is... From relatively low labour costs use to enter this new area and maintain a sustainable advantage. Tool that it feels will have to be in areas where customers will be served with distinct... 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