- Customer Based Segmentation
- Technology Oriented Segmentation
- Competition Related Segmentation
- Product Related Segmentation
Answer (Detailed Solution Below)
Option 2 : Technology Oriented Segmentation
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10 Questions 40 Marks 10 Mins
The Incorrect option is Technology Oriented Segmentation
Market segmentation is a marketing, advertising, and sales approach in which companies divide their target market into smaller, more manageable groups based on common ground they share in order to optimise their marketing, advertising, and sales efforts.
Basis for market segmentation:
- Customer Based Segmentation: In this approach, customers are divided into smaller segments based on type of customers.
- Competition based Segmentation: In this type of market segmentation, the market is divided on the basis of the competitors. Both, direct and indirect competitors are taken into consideration.
- Product Related Segmentation: Product Related segmentation is the process of breaking a customer population into homogeneous groups depending on their relationships with the product, such as segmenting based on the benefits people seek when purchasing a product, usage rates for a product, or brand loyalty.
Technology Oriented Segmentation is not a valid basis for segmentation.
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Business-to-business firms generally segment their markets according to what three variables?
A. market size, customer convenience, and usage rate
B. demographic, geographic, and psychographic
C. demographic, geographic, and behavioral
D. price sensitivity, usage rate, and region
E. profit potential, price sensitivity, and demand
Which of the following represents the three basic strategies for targeting markets?
A. primary targeting, secondary targeting, and specialized marketing
B. targeting by product, targeting by price, and targeting by customer
C. demographic targeting, geographic targeting, and psychographic targeting
D. undifferentiated targeting, differentiated targeting, and niche marketing
E. print advertising, sales promotion, and public relations
84.Which of the following is not a criterion used to segment consumer markets?A.Social ClassB.GeographyC.Purchasing organizationD.Usage
Blooms: RememberDifficulty: Easy
Fahy - Chapter 05 #84Learning Objective: 05-02 Explain the methods used to segment both consumer and organizational marketsTopic: Consumer segmentation criteria85.The process of identifying individuals or organizations with similar characteristics that havesignificant implications for the determination of marketing strategy is called which of thefollowing?
Blooms: UnderstandDifficulty: EasyFahy - Chapter 05 #85Learning Objective: 05-01 Understand what is meant by market segmentationTopic: Segmenting consumer markets86.Who initiated mass customization?
Blooms: RememberDifficulty: HardFahy - Chapter 05 #86Learning Objective: 05-04 Compare and contrast the four market targeting strategies–undifferentiated, differentiated, focused and customized marketingTopic: Target marketing