1. Which of the following statements about market segmentation is true? A)
It involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market. B)
It is a process of evaluating each segment's attractiveness and selecting one or more to enter. C)
It is a process of creating an image or identity of the product in the minds of the target market. D)
It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants.
2. Robert is the owner of an automobile manufacturing company. He calls for a board meeting and tells his directors that he wants to build a car that lets the users experience power and exhilaration. He tells them that the car must allow his users to soar from 0-60 mph in about 4 seconds. He also adds in that the price of the car must be affordable enough for anybody making a good salary. In accordance with the given scenario, Robert is trying to segment the market on the basis of ________. A)
3. To meet the ________ criterion of useful market segments, it must be possible to formulate effective programs for attracting and serving the segments. A)
4. The goal of positioning is ________.
to locate the brand in the minds of consumers to maximize the potential benefit to the firm B)
to discover the different needs and groups existing in the marketplace C)
to target those customers marketers can satisfy in a superior way D)
to collect information about competitors that will directly influence the firms' strategy
5. The three criteria that determine whether a brand association can truly function as a point-of-difference are ________. A)
comparability, authenticity, deliverability
desirability, peculiarity, deliverability
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