Cima E3 Exam Question No 61

Question No 61:

Market Segmentation Guidance for effective market segmentation (Kotler)?

• Substantial e.g. segment sizeable enough to be profitable
• Accessible e.g. segment can be efficiently and effectively reached
• Measurable e.g. segment can be measured
• Actionable e.g. effective strategies are available to attract segment
• Differentiable e.g. the segment behaves and responds differently

Cima E3 Exam Question No 60

Question No 60:

Advantages of Market Segmentation?

• Match closer the features of a product to customer groups.
• Higher customer satisfaction or delight
• Brand loyalty and customer retention.
• More efficient use of marketing resources

Cima E3 Exam Question No 59

Question No 59:

Definition Market Segmentation?
The grouping of customers, with each sub-group or segment of customer having a common need, want or value. Each sub-group or segment will be affected by different targeting strategies; they would behave differently and respond differently to different 'tailored' marketing mixes.