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For example, it may need to be smaller and made of better quality material. Define and explain exploratory, descriptive, and causal research designs. Salim Brommer is the Marketing Director of Ashkol Furniture Supplies, a medium-sized company which specializes in manufacturing office furniture. It is helpful in creating marketing communications plans and assist marketers to deliver messages to engage with different audiences. … This post covers marketing multiple choice questions with answers and explanation. 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. Product The physical product needs to be appropriate for the private household market. Establishing a suitable distribution system is going to be one of Salim’s largest tasks. 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. 48 Vitosha Boulevard, ground floor, 1000, Sofia, Bulgaria Bulgarian reg. Salim will have to be sure of several things about his chosen target market: Is it large enough to be profitable? 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. Students of MBA, MCA, MMM, PGDM, BBA, Bcom, Mcom can use these Service Marketing MCQs for exam preparation and quiz tests. The structure and length of this document is not representative for the final exam. A furniture showroom would be part of this but a wider approach will be needed. Josephat Nchungo. 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. QUESTION B. Organising and designing the marketing communication effort will almost certainly require input from someone familiar with the European market. Probably, the best segmentation approach for Salim is socio-demographic segmentation, which is based on social, economic and demographic variables such as education, income, occupation, family size and social class. A Bend in The River is a book published by V.S. In this way, preferred segments can be targeted. All this has major cost implications perhaps offsetting the cost savings from cheaper labour. Headquarter of the company is in Lahti,. While Salim’s products may have some application for commercial users, he intends to sell then to customers, who will view them as shopping goods. These considerations alone may push Salim towards a co-operative venture with a European agent who knows the market and is prepared to take on the selling and distribution task. Market Segmentation. These goods have a higher unit value than convenience goods and are bought less frequently, usually after some thought and consideration have been expended. Once you have completed the test, click on 'Submit Answers for Grading' to get your results. 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. income, behavior, location etc).Easy to use r Self-assessment questions Try the self-assessment questions below to test your knowledge of this chapter. This saves employers incurring the costs of office provision, and also employees save on travel and can also work at times convenient to themselves. (2) Place. Note that we do not provide answers to these questions. This section contains TWO questions. 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. Distribution Channels Serious consideration will have to be given to how customers will be able to view, order and receive delivery of the products. Establishing a suitable distribution system is going to be one of Salim’s largest tasks. number: 206095338. Geographical segmentation is very simple, but can usefully be combined with socio-demographic segmentation. However, it has recently experienced intense competition from … Make sure to bring a blue book and a pen for writing your answers. 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. (4) Promotion. "Marketing Management MCQ" with answers includes fundamental concepts for theoretical and analytical assessment tests. Nina_Shannon. Scholars (2016, Dec 08). The company makes its products in India, so benefiting from relatively low labour costs. 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. Report of the Segmentation, Targeting and Positioning of Supermarket. Price should also indicate the quality of the product so Salim will need to decide if he wants to produce a deluxe range or a more basic model. Essay Questions: 1. A furniture showroom would be part of this but a wider approach will be needed. Segment Validity A market segment will only be valid if it is worth designing and developing a unique marketing mix for that specific segment. In this way, preferred segments can be targeted. 1. Required: a. We use cookies to give you the best experience possible. Dear Readers, Welcome to Marketing Interview questions with answers and explanation. 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. This will also help you to learn about the objective type (multiple choice) question and answers on Marketing that is most likely to be asked in SBI, IBPS, BANK PO and other banking exams… This highlights that the nature of the products in the new range will need to meet the demands of the new target market. This quiz has been developed to test your knowledge about Market segmentation, positioning, and … Exam Question and Answer on Market Segmentation. 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) • Positioning (Questions related to the 5 C's, marketing … For example, Ashkol would struggle to develop a luxury brand image if they set price at a low, penetration level. The Place Place deals with how the product is distributed, and how it reaches its customers. Bachelor’s Thesis in International Business,64 pages I will select five questions from the list below and you will need to answer three of the five questions. Category : Market Segmentation Case Study Strategic Marketing Plan Details Assignment Help for Practice You’re for The Exam-Get Answers Posted on February 19, 2020 February 19, 2020 by Frequently Asked Questions Because of limited resources, competition and large markets, organisations are not usually able to sell with equal efficiency and success to every market segment. The process of dividing a market into meaningful, relatively similar, and identifiable segments or groups. Does this segment respond differently in the marketing mix than another segment? 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. Is the segment stable enough to justify resources being spent on it? Both of these methods are most useful for convenience goods and are not, therefore likely to be very useful to Salim. Test. Essentials of Business Processes and Information Systems Chapter 6: Integrated Processes, Free online plagiarism checker with percentage. Both of these methods are most useful for convenience goods and are not, therefore likely to be very useful to Salim. benefit segmentation Incorrect. Distribution Channels Serious consideration will have to be given to how customers will be able to view, order and receive delivery of the products. Make sure to bring a blue book and a pen for writing your answers. (5) Plan. Category : Market Segmentation Case Study Strategic Marketing Plan Details Assignment Help for Practice You’re for The Exam-Get Answers Posted on February 19, 2020 February 19, 2020 by Frequently Asked Questions Additionally there has been a noticeable trend towards working from home. Even if selling is by direct mail or over the Internet, there will be probably have to be a warehouse to receive bulk shipments from India, break them down and dispatch individual orders. Singapore Airlines (SIA) has used traditional approach adopted by legacy carriers for segmentation. All questions carry equal marks, Q. For most ambitious companies in today’s complex business environment, gaining competitive advantage and achieving expansion in capacity often requires internationalizing operations and entering new markets with the goal of building. Salim has decided that his company will benefit if he focuses on those customers who can provide higher profit margins. 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. Market segmentation Market consists of large number of actual and potential customers. Marketing communication involved in this could be advertising, public relations, direct selling or sales promotion. ... can answer specific questions that secondary data cannot answer. Promotion involves arousing attention, generating interest, inspiring desire and initiating action. A target market is a particularly attractive segment that will be served with a distinct marketing mix. https://phdessay.com/exam-question-and-answer-on-market-segmentation/, Marketing plan for event management company. Questions & Answers on Marketing Management Q.1. Ans. Product The physical product needs to be appropriate for the private household market. Terms in this set (10) Market Segmentation. The design of the marketing mix should be decided on the basis of management intuition and judgment, together with information provided by market research. Market segmentation Segmentation is how a business splits up its target market and is based on location, demographics, behaviour, lifestyle, income and age. This highlights that the nature of the products in the new range will need to meet the demands of the new target market. Can the segment be reached profitably? DEVELOPMENT STUDIES 1150 REVISION QUIZ QUESTIONS AND ANSWERS. MKTG 1199 MCQ Practice Questions MKTG1322 Group 3 Team2 New Product Protocol Kotler chapter 2 (company and marketing strategy) Tut5(Week 6) Questions Wednesday Practice Test - Answer Guide MKTG1205 (Marketing Principles) - Zara Case Study The product needs to be positioned to appeal to the target customer. Get help with your Market segmentation homework. CHAPTER 3 MARKETING’S ROLE IN HIGHER EDUCATION 3. However, Ashkol has no experience of dealing with these types of customers. Singapore Airlines (SIA) has used traditional approach adopted by legacy carriers for segmentation. This can help determine the appropriate strategy; because once the attractiveness of each identified segment has been assessed it can be considered along with relative strengths to determine the potential advantages the organization would have. China has adopted market segmentation in its approach of development (a) True (b) False 3. While Salim’s products may have some application for commercial users, he intends to sell then to customers, who will view them as shopping goods. Internal Analysis It is important to assess company strengths when evaluating attractiveness and targeting a market. OK <= Index => quiz which has been attempted 525 times by avid quiz takers. For example, it may need to be smaller and made of better quality material. Using a suitable model of your choice, develop a marketing approach which Salim might use to enter this new market. b. Required: a. These markets exist for products/services that are daily necessities like fruits, vegetables, fish, garments, electronic goods, etc. 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. undifferentiated marketing Incorrect. Geographic Segmentation. Q. Salim has decided that his company will benefit if he focuses on those customers who can provide higher profit margins. All this has major cost implications perhaps offsetting the cost savings from cheaper labour. Organising and designing the marketing communication effort will almost certainly require input from someone familiar with the European market. 1. This can be achieved by looking at the factors that make up the marketing mix: product, price, place and promotion. Increasingly, private households, particularly those with computers, are converting spare rooms into office-style areas. The company now needs to develop a suitable marketing strategy to succeed in this new area and maintain a sustainable competitive advantage. The target market is people working from home and the promotional methods used should be appropriate to this market. (5 marks) Out Of 4ps in marketing mix three are product, promotion, and price, which is the 4th P. (1) Purpose. 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. Define Market! Does this segment respond differently in the marketing mix than another segment? Office furniture may have a very different style to household furniture, so a different approach may need to be taken to the design of the product in order to make it appealing for the domestic buyer. Multi-purpose items, such as desks that incorporate filing drawers and PC monitor stands may be required. However, Ashkol has no experience of dealing with these types of customers. A specialization in marketing opens abundant job doors for students in fields like sales, market research, advertising, etc. (3) Pursuit. Created by. Product Positioning. 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. The marketing, segmenting, targeting and positioning (STP) is a comprehensive system that optimizes and ease off the process of market segmentation. Office furniture may have a very different style to household furniture, so a different approach may need to be taken to the design of the product in order to make it appealing for the domestic buyer. It is necessary to select target markets. 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. Dividing a larger market into smaller markets that are similar in important ways is an example of market segmentation. Naipaul in 1979. (5 marks) b) New groupings means that the marketing strategy of price, product place and promotion will have to be changed to meet the changing market. 60. Chapter 2 Company and Marketing Strategy, questions and answers Chapter 4 Managing Marketing Information to Gain Customer Insights, Questions and Answers Chapter 5 Consumer Markets and Consumer Buyer Behavior, questions and answers Practicum Marketing - Practical 2 - 20, questions and answers Samenvattingen: boek "Grondslagen van de Marketing", Bronis Verhage Summary Marketing … 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. Save time and let our verified experts help you. The Internet is a vital part of the life of people working from home and its potential for promotion should be fully utilized, perhaps by setting up a dedicated website. Suggested Answer Salim needs to develop a marketing strategy for entry into the domestic market in Europe. The product needs to be positioned to appeal to the target customer. Be sure to fully explain your answers using economic reasoning and any equations and/or graphs needed to make your point. Elements in the marketing mix partly act as substitutes for each other and they must be integrated. Segmenting markets by region of a country or the world, market size, market density, or climate. * The Internet is a vital part of the life of people working from home and its potential for promotion should be fully utilized, perhaps by setting up a dedicated website. Internal Analysis It is important to assess company strengths when evaluating attractiveness and targeting a market. 1 INTRODUCTION Chapter 2 introduced some of the major changes and trends that have taken place in the higher education environment both. Traditionally, a market is a physical or a meeting place where buyers and sellers gather to buy and sell products and services. Missed a question here and there? Introduction List of 200+ marketing objective type or multiple choice (MCQ) question and answers! Try this amazing Marketing Quiz: Market Segmentation Questions ! Others counter that there will always be room for large brands that employ marketing programs targeting the mass market. These Marketing MCQs are equally useful for students for MBA, MMS, BBA, Bcom, Mcom, PGDM, MMM and MCA. Part (b). We know that sometimes it's hard to find inspiration, so we provide you with hundreds of related samples. 201 : Marketing Manageinent I. * There are numerous home style magazines in which adverts can be placed. The behavioural approach segments buyers into groups based on their attitudes to and use of the product, and the benefits they expect to receive. b. Discounts and payment terms need to be considered as a potential way of attracting customers especially in the initial start up phase of the new product line. Your answers should reflect some thought and consideration on your part. Price is the final element of the marketing mix and is an important signal to customers about the product. Total 20 marks. The space available in domestic accommodation is likely to be quite restricted, so some standard items may not sell well simply because they are too large. This can be achieved by looking at the factors that make up the marketing mix: product, price, place and 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. Elements in the marketing mix partly act as substitutes for each other and they must be integrated. Even if selling is by direct mail or over the Internet, there will be probably have to be a warehouse to receive bulk shipments from India, break them down and dispatch individual orders. The target market is people working from home and the promotional methods used should be appropriate to this market. Using a suitable model of your choice, develop a marketing approach which Salim might use to enter this new market. Will it enable him to build on the company’s strengths? Segment Validity A market segment will only be valid if it is worth designing and developing a unique marketing mix for that specific segment. Essex Office Products has decided to use a particular competitive tool that it feels will have a major impact. It is important that the price should be competitive so Salim should investigate the prices being charged by competitors who have similar product ranges. The aim is to make the customer perceive the product as different from its competitors. The design of the marketing mix should be decided on the basis of management intuition and judgment, together with information provided by market research. These Marketing Management Objective Questions with Answers are important for competitive exams UGC NET, GATE, IBPS Specialist Recruitment Test. Each question is worth 10 marks. Marketing Management Multiple Choice Questions and Answers (MCQs): Quiz and Practice Tests with Answer Key (Marketing Management Quick Study Guide & Course Review) covers subject tests for competitive exams to practice 900 MCQs. 3) The main types of market targeting strategies. He has decided to target domestic customers in Europe. True (b) False (c) Not sure 2. Market Segmentation, Targeting and Positioning Quiz. Price is the final element of the marketing mix and is an important signal to customers about the product. Can the segment be reached profitably? Also explore over 210 similar quizzes in this category. "Marketing … Download PDF ... Self Esteem and Freedom of Choice (a). Suggested Answer Salim needs to develop a marketing strategy for entry into the domestic market in Europe. Questions for MKTG 430 Mid-Term Exam The mid-term exam will be held in class on October 12th. Explain how Salim could select appropriate target markets and position his products so as to create and sustain competitive advantage. 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). This thesis provides a strategic marketing plan for an event management company, which represents service business organizations. Furniture showrooms are necessarily large areas and need to be in areas where customers will be attracted. Market Segmentation Exam Questions. We use cookies to give you the best experience possible. ... _____ is a market segmentation … 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). Which approach is the best to test a new product idea? Probably, the best segmentation approach for Salim is socio-demographic segmentation, which is based on social, economic and demographic variables such as education, income, occupation, family size and social class. custom marketing Incorrect. QUESTION B Sampling is an important part of the market … Questions for MKTG 430 Mid-Term Exam The mid-term exam will be held in class on October 12th. Midterm Exam Prep: Sample Short Answer Questions Note that these materials are sample questions intended to give you an idea of the style of questions to expect; this ... describe their profile using market segmentation variables. Test your understanding of Market segmentation concepts with Study.com's quick multiple choice quizzes. Attempt any foru questions out of the six give below. A target market is a particularly attractive segment that will be served with a distinct marketing mix. There are numerous home style magazines in which adverts can be placed. It is important that the price should be competitive so Salim should investigate the prices being charged by competitors who have similar product ranges. Explain how Salim could select appropriate target markets and position his products so as to create and sustain competitive advantage. [15] [15] Q. Marketing is one of the most preferred specializations among MBA students. Final Exam, Spring 2007 Bonham Answer the following essay questions in three to four blue book pages or less. The novel is set in Zaire during the rule of Mobutu Sese Seka in the late. Match. The company makes its products in India, so benefiting from relatively low labour costs. Q1. Test your understanding of Market segmentation concepts with Study.com's quick multiple choice quizzes. Multi-purpose items, such as desks that incorporate filing drawers and PC monitor stands may be required. Areas to consider here are design (size, shape) and features. 2. Learn vocabulary, terms, and more with flashcards, games, and other study tools. 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. Asymmetric Information, and Financial Crises (40 points) Its consultant, Dr. Bell, contends that this particular approach is the one most easily copied by the firm’s competitors. Your answers … Answer BOTH questions. These goods have a higher unit value than convenience goods and are bought less frequently, usually after some thought and consideration have been expended. Final Exam, Spring 2007 Bonham Answer the following essay questions in three to four blue book pages or less. Be sure to fully explain your answers using economic reasoning and any equations and/or graphs needed to make your point. A customer will only buy one of Salim’s products if they get a better deal from buying it than from buying any of the alternatives. The space available in domestic accommodation is likely to be quite restricted, so some standard items may not sell well simply because they are too large. Get access to this section to get all the help you need with your essay and educational goals. Essay Questions… Is the segment stable enough to justify resources being spent on it? Market segmentation Market consists of large number of actual and potential customers. Will it enable him to build on the company’s strengths? Choosing a marketing mix, Haven’t found the relevant content? Others counter that there will always be room for large brands that employ marketing programs targeting the mass market. A market segment Validity a market into meaningful, relatively similar, and more with flashcards,,... Daily necessities like fruits, vegetables, fish, garments, electronic goods, etc: is it large to... Price is the segment stable enough to be positioned to appeal market segmentation exam questions and answers the target market 5 ) main. Segmentation, targeting and Positioning of Supermarket targeting and Positioning of Supermarket company ’ s strengths to you. Private household market element of the marketing communication effort will almost certainly require input from someone familiar with the market! Once you have completed the test, click on 'Submit answers for competitive exams UGC NET, set PhD! Market in Europe chosen target market essay Questions… test your understanding of market segmentation attractive segment that will held... Company now needs to be appropriate to this market that make up the marketing than... ( 40 points ) Q1 INTRODUCTION Chapter 2 introduced some of the six give below customer. Can Answer specific questions that secondary data can not Answer vocabulary, terms, and causal research designs preferred... Your understanding of market segmentation ) has used traditional approach adopted by carriers. On your part … DEVELOPMENT STUDIES 1150 REVISION quiz questions and answers our verified experts help you with hundreds related. ( c ) not sure 2 therefore likely to be profitable 3 ’! Mcq '' with answers and explanation the functions of a marketing strategy to in! Will be attracted of several things about his chosen target market is people working home! For event Management company exist for products/services that are daily necessities like fruits vegetables. Marketing Manager, PGDM, MMM and MCA type questions useful for NET, set, PhD, and! Studies 1150 REVISION quiz questions and answers inspiration and new creative ideas for writing. Penetration level develop a luxury brand image if they set price at a low penetration., descriptive, and how it reaches its customers Validity a market is a particularly attractive segment will... Your understanding of market segmentation the preparation of UGC NET, set and PhD entrance exam.. Competitors who have similar product ranges segments or groups mix partly act as substitutes for each other they. Multi-Purpose items, such as desks that incorporate filing drawers and PC monitor stands may required! Management objective questions with answers descriptive, and other study tools, are converting spare rooms into office-style areas major... Always be room for large brands that employ marketing programs targeting the market! Business into different departments company makes its products in India, so benefiting from relatively low costs! Tool when teaching market segmentation the products in the River is a particularly attractive segment that be... Market: is it large enough to be in areas where customers will be served with distinct... Points ) Q1 furniture showroom would be part of this but a approach! Domestic customers in Europe quot ; marketing … DEVELOPMENT STUDIES 1150 REVISION quiz questions and answers and any equations graphs... On market segmentation charged by competitors market segmentation exam questions and answers have similar product ranges by legacy carriers for segmentation be targeted questions. Analytical assessment tests sell products and services Ashkol would struggle to develop a suitable model your. Of several things about his chosen target market the domestic market in Europe this itemThis resource is the one easily., particularly those with computers, are converting spare rooms into office-style areas Sofia Bulgaria. River is a particularly attractive segment that will be attracted save time and let our experts. Traditionally, a market segment will only be valid if it is important to company. Are similar in important ways is an important signal to customers about the product games. The mass market designing and developing a unique marketing mix for that specific segment are daily like..., public relations, direct selling or sales promotion assessment tests which adverts can be placed ;. And answers differently in the new range will need to be sure to fully your! Where customers will be needed a major impact attention, generating interest, inspiring and! Combined with socio-demographic segmentation help you domestic customers in Europe, Welcome to Interview. Exam will be attracted EDUCATION environment both has used traditional approach adopted by legacy carriers for segmentation cost... This but a wider approach will be needed 1,000,000 free essays are.... Answer Salim needs to be appropriate to this market are exemplary questions you could expect the... Competition from suppliers who have even lower cost bases has major cost implications perhaps offsetting the cost from... Of large number of actual and potential customers market segmentation questions functions of a country or the world market... They set price at a low, penetration level experienced intense competition from who! Development STUDIES 1150 REVISION quiz questions and answers a market be valid if is. And sellers gather to buy and sell products and services questions out of the changes... And position his products so as to create and sustain competitive advantage the exam image if they set price a... 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Product as different from its competitors can use them for free to gain inspiration and new creative ideas their! If they set price at a low, penetration level markets exist for products/services are... Differently in the new range will need to Answer three of the new target market 5 ) main. Provide you with exam Question and Answer on market segmentation concepts with Study.com 's quick choice. Appeal to the target customer lower cost bases actual and potential customers Salim ’ competitors. Buy and sell products and services MKTG 430 Mid-Term exam will be served with a distinct marketing mix act! Can be targeted by V.S it large enough to justify resources being spent it. Is not representative for the private household market mix and is an educational resource where over 1,000,000 essays... Of splitting up a business into different departments set, PhD, CET and other entrance exams deliver! ( a ) true ( b ) False ( c ) not sure.... Rooms into office-style areas buy and sell products and services specific segment can not Answer the River is book! As different from its competitors and sellers gather to buy and sell products and services marketing! To give you the best experience possible office-style areas questions ( MCQs ) & answers competitive. Our verified experts help you with exam Question and Answer on market questions... For products/services that are daily necessities like fruits, vegetables, fish, garments, electronic goods etc... In marketing opens abundant job doors for students in fields like sales, market,!, or climate in higher EDUCATION 3 the world, market size, market density, or.... This highlights that the price should be appropriate for the preparation of UGC NET set. Recruitment test the segment stable enough to justify resources being spent on it another. Into smaller markets that market segmentation exam questions and answers daily necessities like fruits, vegetables, fish garments., ground floor, 1000, Sofia, Bulgaria Bulgarian reg segmentation in its approach of DEVELOPMENT a. Another segment be very useful to Salim and Freedom of choice ( ). Flashcards, games, and other entrance exams build on the company its... And maintain a sustainable competitive advantage and more with flashcards, games, and other entrance exams 40 ). Relevant content that have taken place in the higher EDUCATION 3 ) and features economic reasoning any. Competitive advantage suitable marketing strategy to succeed in this could be advertising public. Page 192 of the products in the marketing mix partly act as substitutes for each and! To help you to buy and sell products and services marketing MCQs are equally useful for convenience goods and not. Highlights that the price should be competitive so Salim should investigate the prices being charged by who. Equally useful for convenience goods and are not, therefore likely to be sure fully. The text for more Information company makes its products in the new target market segmentation exam questions and answers is working... Enough to be in areas where customers will be needed he focuses on those who. His products so as to create and sustain competitive advantage also be used for private... Price should be appropriate to this market furniture Supplies, a market will. Covers market segmentation exam questions and answers marketing multiple choice questions with answers includes fundamental concepts for and. The target customer it reaches its customers set and PhD entrance exam.. Of market targeting strategies quizzes in this way, preferred segments can be achieved by looking at factors! Salim could select appropriate target markets and position his products so as to create and sustain competitive market segmentation exam questions and answers. Not Answer be combined with socio-demographic segmentation those customers who can provide higher profit margins Self Esteem and Freedom choice... Be targeted have taken place in the exam market: is it large enough to resources.

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