Promotion involves arousing attention, generating interest, inspiring desire and initiating action. Marketing communication involved in this could be advertising, public relations, direct selling or sales promotion. Choosing a marketing mix. This post covers Services Marketing multiple choice questions with answers. What is market segmentation? Explain Marketing Orientation and give the functions of a Marketing Manager. Define Market! Retrieved from https://phdessay.com/exam-question-and-answer-on-market-segmentation/, Exam Question and Answer on Market Segmentation. QUESTION B. Internal Analysis It is important to assess company strengths when evaluating attractiveness and targeting a market. 2. Introduction undifferentiated marketing Incorrect. Additionally there has been a noticeable trend towards working from home. This can also be used for the preparation of UGC NET, SET, PhD, CET and other entrance exams. Office furniture may have a very different style to household furniture, so a different approach may need to be taken to the design of the product in order to make it appealing for the domestic buyer. Geographical segmentation is very simple, but can usefully be combined with socio-demographic segmentation. Others counter that there will always be room for large brands that employ marketing programs targeting the mass market. The company makes its products in India, so benefiting from relatively low labour costs. View Answer / Hide Answer. Dear Readers, Welcome to Marketing Interview questions with answers and explanation. Q. Salim should try to specify the segment of the customer market into which he wishes to sell his products with some care, since this will influence important decisions about all the elements of the marketing mix, including such things as product design, marketing communications, price and distribution methods. Total 20 marks. It is helpful in creating marketing communications plans and assist marketers to deliver messages to engage with different audiences. Segment Validity A market segment will only be valid if it is worth designing and developing a unique marketing mix for that specific segment. Self-assessment questions Try the self-assessment questions below to test your knowledge of this chapter. Its consultant, Dr. Bell, contends that this particular approach is the one most easily copied by the firm’s competitors. 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… Is the segment stable enough to justify resources being spent on it? The process of splitting up a business into different departments. https://phdessay.com/exam-question-and-answer-on-market-segmentation/, Marketing plan for event management company. (3) Pursuit. However, it has recently experienced intense competition from suppliers who have even lower cost bases. Scholars Try this amazing Marketing Quiz: Market Segmentation Questions ! This can be achieved by looking at the factors that make up the marketing mix: product, price, place and promotion. For example, it may need to be smaller and made of better quality material. Internal Analysis It is important to assess company strengths when evaluating attractiveness and targeting a market. List of 200+ marketing objective type or multiple choice (MCQ) question and answers! Marketing is one of the most preferred specializations among MBA students. Others counter that there will always be room for large brands that employ marketing programs targeting the mass market. Hire a subject expert to help you with Exam Question and Answer on Market Segmentation. We know that sometimes it's hard to find inspiration, so we provide you with hundreds of related samples. However, it has recently experienced intense competition from … The target market is people working from home and the promotional methods used should be appropriate to this market. quiz which has been attempted 525 times by avid quiz takers. OK <= Index => 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. Elements in the marketing mix partly act as substitutes for each other and they must be integrated. Explain how Salim could select appropriate target markets and position his products so as to create and sustain competitive advantage. DEVELOPMENT STUDIES 1150 REVISION QUIZ QUESTIONS AND ANSWERS. (2) Place. Explain how Salim could select appropriate target markets and position his products so as to create and sustain competitive advantage. Josephat Nchungo. Make sure to bring a blue book and a pen for writing your answers. 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. 1. This post covers marketing multiple choice questions with answers and explanation. A Bend in The River is a book published by V.S. By continuing we’ll assume you’re on board with our cookie policy. Distribution Channels Serious consideration will have to be given to how customers will be able to view, order and receive delivery of the products. Your answers should reflect some thought and consideration on your part. 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. QUESTION AND ANSWER ON MARKET SEGMENTATION Salim Brommer is the Marketing Director of Ashkol Furniture Supplies, a medium-sized company which … 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. Price is the final element of the marketing mix and is an important signal to customers about the product. Promotion involves arousing attention, generating interest, inspiring desire and initiating action. True (b) False (c) Not sure 2. 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. It is necessary to select target markets. 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. A specialization in marketing opens abundant job doors for students in fields like sales, market research, advertising, etc. (2016, Dec 08). Furniture showrooms are necessarily large areas and need to be in areas where customers will be attracted. b. Make sure to bring a blue book and a pen for writing your answers. Students of MBA, MCA, MMM, PGDM, BBA, Bcom, Mcom can use these Service Marketing MCQs for exam preparation and quiz tests. Missed a question here and there? ANSWER: (2) Place. … PhDessay is an educational resource where over 1,000,000 free essays are collected. Market Segmentation. Product Positioning. Answer outline and marking scheme for question: 2. a) To enable segmentation of the market, so that the marketing is more effective in that marketing is targeted at a specific audience. However, Ashkol has no experience of dealing with these types of customers. Singapore Airlines (SIA) has used traditional approach adopted by legacy carriers for segmentation. Example Exam Questions: Marketing Research. Organising and designing the marketing communication effort will almost certainly require input from someone familiar with the European market. Questions & Answers on Marketing Management Q.1. "Marketing Management MCQ" with answers includes fundamental concepts for theoretical and analytical assessment tests. The process of splitting the market into different groups or segments based on the needs, characteristics or buyer behavior is called as Segmentation (Kotler, Brown, Adam, and Armstrong, 2007). 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. This saves employers incurring the costs of office provision, and also employees save on travel and can also work at times convenient to themselves. a.INDUSTRY BACKGROUND Information Technology is increasingly moving to the center of national competitiveness strategies around the world, due to its ground-breaking power as a significant enabler. Product The physical product needs to be appropriate for the private household market. benefit segmentation Incorrect. These services marketing MCQ are objective type questions useful for NET, SET and PhD entrance exam preparation. The marketing, segmenting, targeting and positioning (STP) is a comprehensive system that optimizes and ease off the process of market segmentation. 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. Can he reach the potential customers? 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. Nina_Shannon. Market segmentation Market consists of large number of actual and potential customers. Be sure to fully explain your answers using economic reasoning and any equations and/or graphs needed to make your point. Price is the final element of the marketing mix and is an important signal to customers about the product. QUESTION B Sampling is an important part of the 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. Spring 2013 This section contains TWO questions. 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. Choose the correct answer for each question. We use cookies to give you the best experience possible. • Marketing Plans (Questions related to conducting a SWOT analysis, developing a 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) Dividing a larger market into smaller markets that are similar in important ways is an example of market segmentation. It is necessary to select target markets. These considerations alone may push Salim towards a co-operative venture with a European agent who knows the market and is prepared to take on the selling and distribution task. The Distribution Channels Serious consideration will have to be given to how customers will be able to view, order and receive delivery of the products. Areas to consider here are design (size, shape) and features. The aim is to make the customer perceive the product as different from its competitors. This highlights that the nature of the products in the new range will need to meet the demands of the new target market. 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. Place Place deals with how the product is distributed, and how it reaches its customers. Essay Questions… 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. It is important that the price should be competitive so Salim should investigate the prices being charged by competitors who have similar product ranges. Establishing a suitable distribution system is going to be one of Salim’s largest tasks. Because of limited resources, competition and large markets, organisations are not usually able to sell with equal efficiency and success to every market segment. Furniture showrooms are necessarily large areas and need to be in areas where customers will be attracted. Terms in this set (10) Market Segmentation. The behavioural approach segments buyers into groups based on their attitudes to and use of the product, and the benefits they expect to receive. Elements in the marketing mix partly act as substitutes for each other and they must be integrated. (5 marks) Using a suitable model of your choice, develop a marketing approach which Salim might use to enter this new market. market segmentation Correct. These 40 solved Marketing questions will help you prepare for personal interviews and online selection tests during campus placement for freshers and job interviews for professionals. However, it has recently experienced intense competition from suppliers who have even lower cost bases. The structure and length of this document is not representative for the final 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. Multi-purpose items, such as desks that incorporate filing drawers and PC monitor stands may be required. Essex Office Products has decided to use a particular competitive tool that it feels will have a major impact. PLAY. These are exemplary questions you could expect in the exam. Suggested Answer Salim needs to develop a marketing strategy for entry into the domestic market in Europe. Salim will have to be sure of several things about his chosen target market: Is it large enough to be profitable? The process of splitting the market into different groups or segments based on the needs, characteristics or buyer behavior is called as Segmentation (Kotler, Brown, Adam, and Armstrong, 2007). Market segmentation Market consists of large number of actual and potential customers. number: 206095338. Report of the Segmentation, Targeting and Positioning of Supermarket. Your answers … Exam Question and Answer on Market Segmentation, Blaming Justice (Looking at the theme of justice in Romeo and Juliet) Essay Sample, Consigue un mentor para desarrollarte como emprendedor, Market Segmentation, Targeting and Positioning. After reading these tricky Marketing questions, you can easily attempt the objective type and multiple choice type questions … Psychographic segmentation is not based on objective data so much as how people see themselves and their subjective feelings and attitudes towards a particular product or service, or towards life in general. Electronic goods, etc re on board with our cookie policy appropriate target markets position! Fully explain your answers using economic reasoning and any equations and/or graphs needed make! Garments, electronic goods, etc decided to target domestic customers in Europe important signal to customers about product... 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