Question 1

For market segmentation to be effective, the elements can be applied (Kotler, 1984), comprising the following four criteria:
Distinct, Accessible, Measurable, Assurance.

Accepted Answer

A) True 
 B)False

Question 2

Standard Industrial Classification (SIC) codes are used to designate similar industrial markets.

Accepted Answer

A) True 
 B)False

Question 3

The benefits sought approach is based on the principle that we should provide customers with exactly what they want, based on the benefits derived from using a particular proposition.

Accepted Answer

A) True 
 B)False

Question 4

'Positioning is the means by which goods and services can be differentiated from one another and so give consumers a reason to buy'. Positioning encompasses:

Accepted Answer

A)  the physical attributes and the functionality that a brand offers. 
B)  how customers perceive the brand relative to other competing brands in the market place. 
C)  the intangible attributes that a brand offers. For example, the reputation, prestige and allure that the brand generates. 
D)  all of the above options are correct.

Exam 8: Market Segmentation and Positioning

For market segmentation to be effective, the elements can be applied (Kotler, 1984), comprising the following four criteria: Distinct, Accessible, Measurable, Assurance.

Standard Industrial Classification (SIC) codes are used to designate similar industrial markets.

The benefits sought approach is based on the principle that we should provide customers with exactly what they want, based on the benefits derived from using a particular proposition.

'Positioning is the means by which goods and services can be differentiated from one another and so give consumers a reason to buy'. Positioning encompasses: