When engaging in the market segmentation process

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Reference no: EM132234125

1. When engaging in the market segmentation process:

- if a segment can be further subdivided, it should be.

- the basic problem is one of finding customers once the company’s product is perfected.

- the firm hopes to understand the customer response characteristics of each segment.

- the primary consideration is segment accessibility.

2. Business marketers are LEAST likely to use which factor to segment their markets:

- brand personalities

- operating characteristics

- personal characteristics

- purchasing approaches

3. Target marketing helps organizations connect with customers by:

- defining the needs of all customers within the market.

- focusing resources to meet the needs and wants of particular customers.

- isolating themselves from normal competition.

- looking for small niches that can be defended easily.

4. A university targeting students based on the benefit of getting a degree quickly and without interfering with the rest of the students’ lives would emphasize:

- the higher average salaries earned by college graduates.

- the great variety of classes offered.

- providing classes at convenient times and asynchronous distance learning courses.

- discount pricing for students taking more than twelve credit hours.

5. Regarding market segmentation:

- a firm with multiple market segmentation is going to experience some degree of cannibalism, i.e., one of its products will take sales from another of its products.

- a single market segment approach is generally focused on a small market away from the so-called “center” of the total market.

- the idea of multiple market segmentation is to give each market segment the choice from among several brands from the same seller.

- the single market segment approach is usually some form of the “me too” strategy.

Reference no: EM132234125

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