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MKTG 201 MIDTERM 2 BYU UPDATED
ACTUAL EXAM WITH CORRECT SOLUTIONS.
Marketing Segmentation - correct answer- Process of grouping customers into relatively homogeneous segments
Customers within a segment respond similarly to the marketing effort directed at them
Criteria for Effective Segmentation - correct answer- Measurable Accessible Durable Substantial Unique Needs
Effective Segmentation--Measurable - correct answer- Individuals can be assigned to a segment and counted
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Effective Segmentation--Accessible - correct answer- Individuals in the segment can be reached through the company's promotion/distribution channels
Effective Segmentation--Durable - correct answer- Segment membership is relatively constant
Effective Segmentation--Substantial - correct answer- Segment is large enough to make products profitable
Effective Segmentation--Unique Needs - correct answer- Needs are homogeneous within segments and heterogeneous across segments
Ways to segment the market (from most useful to least) - correct answer- geographic, demographic, psychographic, behavioral
Geographical Segmentation - correct answer- dividing a market into different geographical units, such as nations, states, regions, counties, cities, densities, climate, or even neighborhoods
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Demographic Segmentation - correct answer- segmenting markets by age, gender, income, ethnic background, occupation
Psycho-graphic Segmentation - correct answer- Personality traits, values, attitudes, interests, and lifestyles. A profile about how people view the world, the things that interest them, and what causes them to take action.
Behavioral Segmentation - correct answer- Usage situations, benefits
The Diffusion Process - correct answer- Describes how potential customers learn about new products, try them, and adopt or reject them.
Bell Curve:
Early Innovators Early Adopters Early Majority Late Majority Laggards
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