List the four methods that marketers use to segment the market for
their product or service. demographic, geographic, psychographic and
Why is market segmentation an important component of the marketing
plan? The importance of market segmentation is that it allows a
business to precisely reach a consumer with specific needs and wants. In
the long run, this benefits the company because they are able to use
their corporate resources more effectively and make better strategic
Using the four segments identified earlier, discuss the various
consumer attributes that can be used to profile the market under each
What is the difference between a product feature and a product benefit?
Why is it important for market researchers to identify market trends so that they can understand consumer behaviour?
What is product positioning?List five types of product/service
positioning strategies that marketers can use to differentiate their
product/service offering to the market.
VALS is aframework that uses psychological and sociological
factorsto describe the dynamics of consumer behaviour. Conduct research
on this philosophy to understand the impact of an individual’s social
and lifestyle choices. Explain how the VALS framework can help
marketers to assess, estimate and test consumer behaviour. (100-150
Why is it important for marketers to study the outcome of previous marketing communication strategies?
Using the table below, provide five examples of websites where you
are leaving a digital footprint. For each example, explain the relevant
data that marketers could have used about your interaction to engage
Using the image provided about the 7P’s of Marketing, explain how
organisations can use the marketing mix to quickly respond to consumer
demand for their products or services in accordance with the marketing
What is market targeting?
After evaluating different segments, a target market is identified.
Provide a brief explanation of the following three types of
market-coverage strategies and the rationale behind using each one.