Question 1

Without a focus on segmentation, organizations in competitive markets become ______.&#10;A) efficient by avoiding unnecessary expenses&#10;B) inefficient and risk failure&#10;C) efficient and more competitive&#10;D) inefficient and avoid misclassifying prospective customers

Accepted Answer

Without a focus on segmentation, organizations are less likely to effectively target specific customer groups and are more likely to waste resources trying to appeal to everyone. This can result in inefficiency and increased risk of failure due to the lack of targeted marketing and product development efforts.

Question 2

Members of a market segment are ______.&#10;A) heterogenous&#10;B) isogamous&#10;C) amalgamous&#10;D) homogenous

Accepted Answer

Members of a market segment are typically homogenous, meaning they share certain characteristics or needs that distinguish them from other potential customers. This homogeneity allows marketers to craft targeted messages and offers that are more likely to resonate with a particular group. Option A, heterogenous, means that the group is diverse and varied, which goes against the principles of segmentation. Option B, isogamous, refers to organisms that reproduce sexually and have similar gametes, which is not relevant to market segmentation. Option C, amalgamous, means blended together or merged, which is also not applicable to this concept.

Question 3

Forrester's Empowered Customer Segmentation Framework includes all of the following characteristics EXCEPT ______.&#10;A) willingness to purchase&#10;B) self-efficacy&#10;C) information savviness&#10;D) device usage

Accepted Answer

Forrester's Empowered Customer Segmentation Framework focuses on aspects that influence how consumers interact with technology and brands, such as self-efficacy, information savviness, and device usage. Willingness to purchase is not specifically mentioned as a characteristic within this framework.

Question 4

A disadvantage of the firmographics market segmentation bases is ______.&#10;A) limited understanding of buyer behaviour and purchasing patterns&#10;B) limited insights into the underlying motives and needs driving market behaviour&#10;C) inaccessible data&#10;D) grouping markets by descriptive characteristics, answering &#34;how&#34; questions

Accepted Answer

Firmographics market segmentation bases only capture descriptive characteristics such as industry, location, and company size, but do not provide insights into the underlying motives and needs driving market behaviour. This can limit marketers' understanding of their target audience, potentially leading to less effective marketing strategies.

Question 5

The segmentation procedure includes ______.&#10;A) setting segmentation focuses&#10;B) identifying objectives relevant for the project scope&#10;C) assessing segmentation ineffectiveness&#10;D) identifying data sources and collecting data

Accepted Answer

The answer of The segmentation procedure includes ______.&#10;A) setting segmentation...

Question 6

All of the following are stages in a job map for the Jobs-To-Be-Done-Theory EXCEPT ______.&#10;A) monitor&#10;B) determine&#10;C) locate&#10;D) prepare

Accepted Answer

The Jobs-To-Be-Done Theory outlines stages such as define, locate, prepare, confirm, execute, and monitor. "Determine" is not listed as a stage in this theory, making it the correct choice.

Question 7

Which of the following targeting strategies is most commonly used?&#10;A) marketing automation strategy&#10;B) mass marketing&#10;C) multi-segment strategy&#10;D) concentration strategy

Accepted Answer

Multi-segment strategy is the most commonly used targeting strategy among businesses as it allows them to target multiple segments with tailored marketing messages and offerings. This approach recognizes that different groups of consumers have different needs and preferences, and tailors marketing efforts accordingly. The other options are not as widely used as multi-segment strategy. Mass marketing is becoming less popular as it does not account for individual preferences, leading to lower engagement and higher costs. Marketing automation strategy and concentration strategy are more specialized targeting approaches that may not apply to all businesses.

Question 8

The target market relative attractiveness of segments can be assessed using all of the following characteristics EXCEPT ______.&#10;A) inaccessible&#10;B) substantial&#10;C) durable&#10;D) actionable

Accepted Answer

"Inaccessible" is not a characteristic used to assess the attractiveness of market segments. Attractiveness is typically evaluated based on factors like size (substantial), stability or growth potential (durable), and the ability to effectively reach and serve the segment (actionable). An "inaccessible" segment would not be considered attractive because it implies difficulty in reaching or serving the market effectively.

Question 9

Customer journeys and buyer personas are developed for each target segment once target segments are ______.&#10;A) differentiated&#10;B) selected&#10;C) identified&#10;D) accessible

Accepted Answer

Customer journeys and buyer personas are typically developed after target segments have been selected, as this allows for a focused approach in understanding and catering to the specific needs, behaviors, and preferences of those selected segments.

Question 10

Which technology makes personalization at the individual level possible?&#10;A) artificial intelligence&#10;B) cloud computing&#10;C) digital analytics&#10;D) edge computing

Accepted Answer

The answer of Which technology makes personalization at the individual...

Question 11

An assertion of the reasons the target market should choose a brand's offer is known as a ______.&#10;A) positioning statement&#10;B) value proposition&#10;C) mission statement&#10;D) target proposition

Accepted Answer

The answer of An assertion of the reasons the target...

Question 12

Which of the following are required to identify the positioning strategy?&#10;A) points of differentiation and points of parity&#10;B) unique selling proposition and competitive frame of reference&#10;C) points of parity and points of differentiation&#10;D) competitive frame of reference and points of differentiation

Accepted Answer

The answer of Which of the following are required to...

Question 13

The positioning base with brand image, ideal self, and symbolism descriptive options is referred to as ______.&#10;A) emotion&#10;B) transformational&#10;C) values&#10;D) principles

Accepted Answer

The answer of The positioning base with brand image, ideal...

Question 14

Creating a positioning map requires which three steps?&#10;A) define the market, choose the two dimensions, and plot the positions of each brand&#10;B) define the market, choose the four quadrants, and plot the positions of each competing brand&#10;C) define the market, choose the two dimensions, and plot the positions of each competing brand&#10;D) define the market, choose the four quadrants, and plot the positions of each brand

Accepted Answer

The answer of Creating a positioning map requires which three...

Deck 3: Segmentation, Targeting, and Positioning