Suggested Answer Salim needs to develop a marketing strategy for entry into the domestic market in Europe. 2. Access the answers to hundreds of Market segmentation questions that are explained in a way that's easy for you to … DEVELOPMENT STUDIES 1150 REVISION QUIZ QUESTIONS AND ANSWERS. The target market is people working from home and the promotional methods used should be appropriate to this market. Exam Question and Answer on Market Segmentation. Be sure to fully explain your answers using economic reasoning and any equations and/or graphs needed to make your point. This highlights that the nature of the products in the new range will need to meet the demands of the new target market. Market Segmentation Exam Questions. "Marketing Management MCQ" with answers includes fundamental concepts for theoretical and analytical assessment tests. Can the segment be reached profitably? A target market is a particularly attractive segment that will be served with a distinct marketing mix. For example, it may need to be smaller and made of better quality material. Salim has decided that his company will benefit if he focuses on those customers who can provide higher profit margins. Place Place deals with how the product is distributed, and how it reaches its customers. Required: a. 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. The company makes its products in India, so benefiting from relatively low labour costs. "Marketing … Is the segment stable enough to justify resources being spent on it? QUESTION B. Final Exam, Spring 2007 Bonham Answer the following essay questions in three to four blue book pages or less. The 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. It is necessary to select target markets. Multi-purpose items, such as desks that incorporate filing drawers and PC monitor stands may be required. 1 INTRODUCTION Chapter 2 introduced some of the major changes and trends that have taken place in the higher education environment both. Elements in the marketing mix partly act as substitutes for each other and they must be integrated. Increasingly, private households, particularly those with computers, are converting spare rooms into office-style areas. A specialization in marketing opens abundant job doors for students in fields like sales, market research, advertising, etc. Geographic Segmentation. However, it has recently experienced intense competition from suppliers who have even lower cost bases. INTRODUCTION The product needs to be positioned to appeal to the target customer. Part of Using a suitable model of your choice, develop a marketing approach which Salim might use to enter this new market. 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. Once you have completed the test, click on 'Submit Answers for Grading' to get your results. Traditionally, a market is a physical or a meeting place where buyers and sellers gather to buy and sell products and services. 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. PhDessay is an educational resource where over 1,000,000 free essays are collected. Missed a question here and there? Start studying MARKETING 309 EXAM 2 DR. MOUNTAIN. Salim will have to be sure of several things about his chosen target market: Is it large enough to be profitable? (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. 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. Make sure to bring a blue book and a pen for writing your answers. Out Of 4ps in marketing mix three are product, promotion, and price, which is the 4th P. (1) Purpose. Bachelor’s Thesis in International Business,64 pages 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… 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. Geographical segmentation is very simple, but can usefully be combined with socio-demographic segmentation. Be sure to fully explain your answers using economic reasoning and any equations and/or graphs needed to make your point. Report of the Segmentation, Targeting and Positioning of Supermarket. The company now needs to develop a suitable marketing strategy to succeed in this new area and maintain a sustainable competitive advantage. Ans. (5) Plan. Questions & Answers on Marketing Management Q.1. Can he reach the potential customers? Introduction 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. It is necessary to select target markets. 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. Types of 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. Because of limited resources, competition and large markets, organisations are not usually able to sell with equal efficiency and success to every market segment. Example Exam Questions: Marketing Research. Retrieved from https://phdessay.com/exam-question-and-answer-on-market-segmentation/, Exam Question and Answer on Market Segmentation. Headquarter of the company is in Lahti,. Hire a subject expert to help you with Exam Question and Answer on Market Segmentation. Choosing a marketing mix, Haven’t found the relevant content? The structure and length of this document is not representative for the final exam. b. Test. The company makes its products in India, so benefiting from relatively low labour costs. * 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. (5 marks) 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. These services marketing MCQ are objective type questions useful for NET, SET and PhD entrance exam preparation. Note that we do not provide answers to these questions. Define and explain exploratory, descriptive, and causal research designs. Download PDF ... Self Esteem and Freedom of Choice (a). Marketing communication involved in this could be advertising, public relations, direct selling or sales promotion. There are numerous home style magazines in which adverts can be placed. Will it enable him to build on the company’s strengths? Market segmentation Market consists of large number of actual and potential customers. 48 Vitosha Boulevard, ground floor, 1000, Sofia, Bulgaria Bulgarian reg. 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 … Distribution Channels Serious consideration will have to be given to how customers will be able to view, order and receive delivery of the products. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Both of these methods are most useful for convenience goods and are not, therefore likely to be very useful to Salim. ABSTRACT Market Segmentation. Q1. 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. 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. ... can answer specific questions that secondary data cannot answer. Product Positioning. Promotion involves arousing attention, generating interest, inspiring desire and initiating action. The aim is to make the customer perceive the product as different from its competitors. 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. Attempt any foru questions out of the six give below. Product Positioning. 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. 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. 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. 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. quiz which has been attempted 525 times by avid quiz takers. 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. 201 : Marketing Manageinent I. List of 200+ marketing objective type or multiple choice (MCQ) question and answers! He has decided to target domestic customers in Europe. benefit segmentation Incorrect. Much work has already been done on this approach, in the ACORN system, for example, and Salim would be able to buy in the basic information he needs. Questions for MKTG 430 Mid-Term Exam The mid-term exam will be held in class on October 12th. Give the process.of carrying out a Marketing Research. Establishing a suitable distribution system is going to be one of Salim’s largest tasks. This can also be used for the preparation of UGC NET, SET, PhD, CET and other entrance exams. Areas to consider here are design (size, shape) and features. Price is the final element of the marketing mix and is an important signal to customers about the product. (2) Place. Segment Validity A market segment will only be valid if it is worth designing and developing a unique marketing mix for that specific segment. Total 20 marks. 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 saves employers incurring the costs of office provision, and also employees save on travel and can also work at times convenient to themselves. Explain how Salim could select appropriate target markets and position his products so as to create and sustain competitive advantage. Market Segmentation, Targeting and Positioning Quiz. Its consultant, Dr. Bell, contends that this particular approach is the one most easily copied by the firm’s competitors. Singapore Airlines (SIA) has used traditional approach adopted by legacy carriers for segmentation. However, Ashkol has no experience of dealing with these types of customers. A furniture showroom would be part of this but a wider approach will be needed. Areas to consider here are design (size, shape) and features. 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. This section contains TWO questions. Question 4: With marketers increasingly adopting more and more refined market segmentation schemes – fueled by the Internet and other customization efforts- some critics claim that mass marketing is dead. Salim will have to be sure of several things about his chosen target market: Is it large enough to be profitable? Test your understanding of Market segmentation concepts with Study.com's quick multiple choice quizzes. Josephat Nchungo. Which approach is the best to test a new product idea? Missed a question here and there? For example, Ashkol would struggle to develop a luxury brand image if they set price at a low, penetration level. Additionally there has been a noticeable trend towards working from home. In this way, preferred segments can be targeted. I will select five questions from the list below and you will need to answer three of the five questions. Place Place deals with how the product is distributed, and how it reaches its customers. These goods have a higher unit value than convenience goods and are bought less frequently, usually after some thought and consideration have been expended. After reading these tricky Marketing questions, you can easily attempt the objective type and multiple choice type 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. Part (b). 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. QUESTION AND ANSWER ON MARKET SEGMENTATION Salim Brommer is the Marketing Director of Ashkol Furniture Supplies, a medium-sized company which … See Page 192 of the text for more information. The behavioural approach segments buyers into groups based on their attitudes to and use of the product, and the benefits they expect to receive. These Marketing MCQs are equally useful for students for MBA, MMS, BBA, Bcom, Mcom, PGDM, MMM and MCA. The company makes its products in India, so benefiting from relatively low labour costs. 2. Does this segment respond differently in the marketing mix than another segment? All this has major cost implications perhaps offsetting the cost savings from cheaper labour. Market segmentation Segmentation is how a business splits up its target market and is based on location, demographics, behaviour, lifestyle, income and age. Essentials of Business Processes and Information Systems Chapter 6: Integrated Processes, Free online plagiarism checker with percentage. 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. 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. 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