MKT S-T-P

Segmentation of a market according to the customers’ thoughts and values as well as how they live their lives describes ________.

• demographic segmentation

• geographic segmentation

• behavioral segmentation

• psychographic segmentation

• economic segmentation

Which two of the following statements are true in relation to market segmentation?

• Some businesses attempt to reach all market segments

• Market segmentation will guarantee a business is always successful

• Once market segments have been identified, they are easy to reach

• It is easy to predict, measure and segment the market

• It allows businesses to more easily target consumers with similar characteristics

What is one of the strategies for choosing a target market?

• Market specialization

• Not defining customer segments clearly

• Random product distribution

• Maximizing discounts to attract all customers

What is a benefit of segmenting and targeting markets?

• It encourages head-on competition with other firms.

• It allows you to focus on unprofitable customers and market more aggressively to them.

• It allows you to identify customers who are late in adopting the products.

• It allows you to develop new offerings and expand profitable brands and product lines.

• All of the above are benefits.

What does brand positioning help banks achieve?

• Create a clear impression in the customer's mind

• Reduce product prices

• Limit number of customers

• Eliminate competitors immediately

Many companies have used the Internet to expand their selection of target markets into new geographic markets. What characteristic of an attractive market is best reflected by companies pursuing this strategy?

• size of market

• growth of market

• lack of competition

• accessibility to market

• fit with objectives and strategy

Tailoring your product or its marketing so that it stands out from the competition and people want to buy it defines ________.

• customization

• segmentation

• positioning

• targeting

• perceptual mapping

Which strategy is NOT a common positioning strategy?

• Positioning by product

• Positioning by personnel

• Positioning by time

• Positioning by convenience

Which factor MOST influences Agribank’s success in rural Vietnam compared to other banks?

• Its ability to offer financial services tailored to the agricultural economy

• Its focus on high-interest savings accounts

• Its expansion into major cities

• Its exclusive digital banking partnerships with fintech startups

Competitive analysis addresses all of the following factors EXCEPT _________.

• examines competitors’ strengths

• identifies competitors’ future positioning

• examines competitors’ current positioning

• examines competitors’ weaknesses

• suggests opportunities for differentiation