Question

If your assignment was (for each segment) to create a value proposition and product-price positioning strategy based on the segment’s unique customer needs and characteristics, you would be in which of the following steps of the segmentation process?
Needs-based segmentation
Segment identification
Segment attractiveness
Segment positioning
Segment "acid-test"

Answer 1

Answer:

The correct answer is letter "D": Segment positioning.

Explanation:

Market segmentation refers to the classification a company makes of its customers by features such as age, gender, income, lifestyles, or location. It allows specializing in the production of one product that better matches part of the market's needs. Market segmentation has three (3) main steps: Targeting, Product Positioning, and Deciding on a Marketing Mix.

The segment positioning stage involves developing a detailed product for the sector of the market selected and developing a marketing mix that segment. Product price and value are also set during this phase.