GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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true
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false
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Either A or B
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None of the above
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Detailed explanation-1: -A market segment is an individual customer who shares similar inclinations toward your brand. It is easier to identify, obtain information on, and woo customers who are currently using a competitor’s brand or who aren’t even purchasers in the category.
Detailed explanation-2: -Market Positioning refers to the ability to influence consumer perception regarding a brand or product relative to competitors. The objective of market positioning is to establish the image or identity of a brand or product so that consumers perceive it in a certain way.
Detailed explanation-3: -The first stage of the Consumer Decision Making Process, need recognition takes place when a consumer identifies an unmet need.
Detailed explanation-4: -Customer segmentation is the process of classifying customers into specific groups based on shared characteristics. This allows companies to refine their messaging, sales strategies, and products to target, advertise, and sell to those audiences more effectively.
Detailed explanation-5: -Convenience Goods Like the Crest toothpaste example, convenience goods are products that consumers purchase repeatedly and without much thought.