Your Marketing Professor Asks You to Draw a Chart Representing

question 24

Multiple Choice

Your marketing professor asks you to draw a chart representing Maple Leaf's market share figures in North America. What is the benefit of presenting this information in a chart?

• A) To avoid getting into details
• B) To not waste time writing out the details
• C) To help visualize the data and illustrate what the market share figures mean to the company and the industry
• D) To avoid writing a conclusion

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Definitions:

Segmenting Markets

The practice of dividing a broad target market into subsets of consumers with common needs or characteristics and then designing and implementing strategies to target them.

STP Process

Stands for Segmentation, Targeting, and Positioning, a strategic approach in marketing that divides a broad market into distinct groups, targets specific segments, and positions a brand to meet the needs of selected segments.

Geodemographic Segmentation

A marketing technique that clusters people based on the premise that individuals who live near one another are likely to have similar financial means, tastes, and lifestyles.

Segmentation Attractiveness

The extent to which a defined market segment is desirable to target based on factors like size, profitability, and accessibility.