1. Define and provide a marketing example for each of the following: a. Market b

Question

1. Define and provide a marketing example for each of the following: a. Market b. Market Segment c. Market Segmentation Why is Market Segmentation importanti Define the criteria for Successful Segmentation by a firm and give a marketing example for each of the criteria. What are some bases for segmenting markets? Provide an example of each. For example, demographic segmentation - persons between the ages of 35 &44 Define and provide 1 marketing example of each of the following: 2. 3. 4. 5. a. Ethnic segmentation b. Family Life Cycle segmentation c. Psychographic segmentation d. Geodemographic segmentation Define Benefit Segmentation. Why is it so important to marketers? 7. 6. Define Usage Rate Segmentation. With a marketing example, why is it important to marketers? 8. Define and List the bases for segmenting Business (B2B) markets 9. List and briefly define each of the steps in segmenting a market. 10. Define and illustrate with a marketing example each of the following segmentation strategies: a. Undifferentiated targetlsegmentation b. Concentrated target segmentation c. Multi-segment target segmentation 11. Define product positioning and illustrate with a marketing example. 12. Define perceptual mapping and illustrate with a marketing example. 13. Define repositioning and illustrate with a marketing example

Explanation / Answer

Ans 1 a) Market: Place or location where buyers and sellers meet to exchange services and goods at price determine by supply and demand. It can be any physical location or virtual as well like internet.

Example: E-commerce site like Amazon, Alibaba etc.

Ans b) Market Segment: It is a customer base whoes likes and dislike are similar and form a homogeneous market.

Examples: Market can be segmented based on gender, age group, income, place. Like costly car maker will target high income group people.

Ans c) Market Segmentation: Classification of a group of customers from the market on certain characteristics. During market segmentation customers are divided into different groups as per their buyuing behaviour or other similar characteristics.

Examples are demographic segmentation, geographical segmentation etc.,

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