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- VinceShoe is a company who sells leather shoes. If you are the owner of VinceShoe, how will you segment your market according to the different type of segmentation? 1. Demographic Segmentation 2. Pshychographic Segmentation 3. Geographic Segmentation 4. Behavioral SegmentationBy dividing its market according to this specific type of market segmentation McDonald's may offer a variety of breakfast options of Spam and rice in Hawaii, tacos in Arizona, and lobster rolls in Massachusetts. What type of market segmentation is McDonald's utilizing? Psychographic segmentation Geographic segmentation Behavioral segmentation Demographic segmentationMarket segmentation can be best described as the process of ________. A. evaluating each market segment's attractiveness and selecting one or more segments to enter B. turning marketing plans into marketing actions to accomplish strategic marketing objectives C. dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate marketing programs D. assigning specific human attributes to a given brand E. maintaining a strategic fit between organizational goals and changing marketing opportunities
- If Walmart divides potential customers into those who prefer to shop online versus those who prefer to shop in person at a Walmart location, it is using ________ as the basis of segmentation. a. Geographic variables b. Psychographic variables c. demographic variables d. Variables based on behavior (behavioral)Gold Class Electricals, a consumer-electronics firm, targets market segments based on factors such as country, age, social class, usage rate, and benefits sought. The company divides its markets based on A) multiple segmentation bases B) psychographic segmentation bases C) geographic regions D) demographic variableE) behavioral variables Please answer fast I give you upvoteA market research has ignored gender, age groups and races for segmenting their market. However, they are focusing on how much, how often and in which occasions the customers use their product. Which base of market segmentation can be used in this case? a. psychographic b. income c. demographic d. behavioral
- Not all segmentation schemes are useful. To be useful, market segments must rate favorably on certain key criteria. ExplainName and describe the four major sets of variables that might be used in segmenting consumer markets. Which segmenting variable(s) do you think Bata is using?14. Any company or business is obliged to carry out a market division process, called segmentation, in order to have greater clarity regarding the direction of its offer in the market; Once the segmentation has been carried out, it is important to choose the segment to be served and define it. From said segment, a consumer representation or prototype is chosen, called: Select one: a.market profile b.consumer profile c.buyer persona d.Target market
- After a company has defined its market segments, it can entre only one segment Select one: True False1. How Michael Porter’s five forces model can help marketers to analyze segment attractiveness? Explain with help of examples. 2. Suppose you are planning to launch a new product in the Pakistani market. What criteria you will use for an effective market segmentation strategy? Provide examples where applicableDiscuss the concepts of market segmentation and product positioning, and explain how they are related. What are the variables that can be used to segment markets? Also, how many variables should typically be used to segment markets efficiently? Justify your answer.