These services marketing MCQ are objective type questions useful for NET, SET and PhD entrance exam preparation. Segment Validity A market segment will only be valid if it is worth designing and developing a unique marketing mix for that specific segment. Headquarter of the company is in Lahti,. Promotion involves arousing attention, generating interest, inspiring desire and initiating action. The space available in domestic accommodation is likely to be quite restricted, so some standard items may not sell well simply because they are too large. Choosing a marketing mix. Be sure to fully explain your answers using economic reasoning and any equations and/or graphs needed to make your point. Get help with your Market segmentation homework. Scholars DEVELOPMENT STUDIES 1150 REVISION QUIZ QUESTIONS AND ANSWERS. The product needs to be positioned to appeal to the target customer. However, it has recently experienced intense competition from suppliers who have even lower cost bases. We use cookies to give you the best experience possible. This post covers marketing multiple choice questions with answers and explanation. For example, it may need to be smaller and made of better quality material. This can also be used for the preparation of UGC NET, SET, PhD, CET and other entrance exams. Define Market! Because of limited resources, competition and large markets, organisations are not usually able to sell with equal efficiency and success to every market segment. 3) The main types of market targeting strategies. Distribution Channels Serious consideration will have to be given to how customers will be able to view, order and receive delivery of the products. Self-assessment questions Try the self-assessment questions below to test your knowledge of this chapter. 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. 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. Place Place deals with how the product is distributed, and how it reaches its customers. It is necessary to select target markets. (2) Place. Marketing Management Multiple Choice Questions(MCQs) & Answers for competitive exams. A specialization in marketing opens abundant job doors for students in fields like sales, market research, advertising, etc. Marketing communication involved in this could be advertising, public relations, direct selling or sales promotion. A target market is a particularly attractive segment that will be served with a distinct marketing mix. The process of splitting up a business into different departments. Note that we do not provide answers to these questions. Because of limited resources, competition and large markets, organisations are not usually able to sell with equal efficiency and success to every market segment. Part (b). 1. Geographic Segmentation. Elements in the marketing mix partly act as substitutes for each other and they must be integrated. * 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. We know that sometimes it's hard to find inspiration, so we provide you with hundreds of related samples. 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. 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… PhDessay is an educational resource where over 1,000,000 free essays are collected. This quiz has been developed to test your knowledge about Market segmentation, positioning, and … [15] [15] Q. Choosing a marketing mix, Haven’t found the relevant content? 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. Exam Question and Answer on Market Segmentation. The 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. Ans. Internal Analysis It is important to assess company strengths when evaluating attractiveness and targeting a market. Match. 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. Total 20 marks. Gravity. 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. Elements in the marketing mix partly act as substitutes for each other and they must be integrated. Areas to consider here are design (size, shape) and features. All questions carry equal marks, Q. Students of MBA, MCA, MMM, PGDM, BBA, Bcom, Mcom can use these Service Marketing MCQs for exam preparation and quiz tests. Essex Office Products has decided to use a particular competitive tool that it feels will have a major impact. 4) Target market 5) The relationship between market segmentation and market targeting. Bachelor’s Thesis in International Business,64 pages Distribution Channels Serious consideration will have to be given to how customers will be able to view, order and receive delivery of the products. Salim has decided that his company will benefit if he focuses on those customers who can provide higher profit margins. Both of these methods are most useful for convenience goods and are not, therefore likely to be very useful to Salim. (5 marks) Test your understanding of Market segmentation concepts with Study.com's quick multiple choice quizzes. The company now needs to develop a suitable marketing strategy to succeed in this new area and maintain a sustainable competitive advantage. 1. Essentials of Business Processes and Information Systems Chapter 6: Integrated Processes, Free online plagiarism checker with percentage. Be sure to fully explain your answers using economic reasoning and any equations and/or graphs needed to make your point. Explain how Salim could select appropriate target markets and position his products so as to create and sustain competitive advantage. These markets exist for products/services that are daily necessities like fruits, vegetables, fish, garments, electronic goods, etc. True (b) False (c) Not sure 2. Choose the correct answer for each question. Test your understanding of Market segmentation concepts with Study.com's quick multiple choice quizzes. He has decided to target domestic customers in Europe. (2016, Dec 08). Product The physical product needs to be appropriate for the private household market. View Answer / Hide Answer. Suggested Answer Salim needs to develop a marketing strategy for entry into the domestic market in Europe. Report of the Segmentation, Targeting and Positioning of Supermarket. 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. Product The physical product needs to be appropriate for the private household market. PLAY. Your answers … Spring 2013 ١ Managing Marketing Strategy BM530 Revision Essay Questions Chapter 8: Market Segments and Targeting Explain each of the following: 1) Bases of segmenting the consumer market. Salim has decided that his company will benefit if he focuses on those customers who can provide higher profit margins. ABSTRACT Multi-purpose items, such as desks that incorporate filing drawers and PC monitor stands may be required. This highlights that the nature of the products in the new range will need to meet the demands of the new target market. Define and explain exploratory, descriptive, and causal research designs. Furniture showrooms are necessarily large areas and need to be in areas where customers will be attracted. The company makes its products in India, so benefiting from relatively low labour costs. Once you have completed the test, click on 'Submit Answers for Grading' to get your results. Its consultant, Dr. Bell, contends that this particular approach is the one most easily copied by the firm’s competitors. 2. Establishing a suitable distribution system is going to be one of Salim’s largest tasks. The structure and length of this document is not representative for the final exam. 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. 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. This post covers Services Marketing multiple choice questions with answers. Missed a question here and there? The space available in domestic accommodation is likely to be quite restricted, so some standard items may not sell well simply because they are too large. 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. 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. Explain Marketing Orientation and give the functions of a Marketing Manager. Segmenting markets by region of a country or the world, market size, market density, or climate. Final Exam, Spring 2007 Bonham Answer the following essay questions in three to four blue book pages or less. Test. However, it has recently experienced intense competition from suppliers who have even lower cost bases. These Marketing MCQs are equally useful for students for MBA, MMS, BBA, Bcom, Mcom, PGDM, MMM and MCA. Competition from suppliers who have similar product ranges for MKTG 430 Mid-Term exam will be served a. 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