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B Com Exam  >  B Com Tests  >  Test: Market Segmentation - 2 - B Com MCQ

Test: Market Segmentation - 2 - B Com MCQ


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10 Questions MCQ Test - Test: Market Segmentation - 2

Test: Market Segmentation - 2 for B Com 2024 is part of B Com preparation. The Test: Market Segmentation - 2 questions and answers have been prepared according to the B Com exam syllabus.The Test: Market Segmentation - 2 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Market Segmentation - 2 below.
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Test: Market Segmentation - 2 - Question 1
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What is a market positioning strategy?

Detailed Solution for Test: Market Segmentation - 2 - Question 1
A market positioning strategy is a deliberate branding plan that operates on the symbolic levels of consumer consciousness. It seeks to create a unique space within the minds of the target audience and set the company apart from the competition.
Test: Market Segmentation - 2 - Question 2
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According to the text, how many marketing messages does the average media consumer see per day?

Detailed Solution for Test: Market Segmentation - 2 - Question 2
According to the text, the average media consumer sees between 3,000 and 20,000 marketing messages per day, depending on how you qualify exposure. So, the correct answer is option B.
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Test: Market Segmentation - 2 - Question 3
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What is the purpose of competitor analysis in market positioning?

Detailed Solution for Test: Market Segmentation - 2 - Question 3
The purpose of competitor analysis in market positioning is to understand who your competitors are, what strategies they use or may have planned, how they may react to your strategic actions, and how your actions may influence their behavior to your advantage.
Test: Market Segmentation - 2 - Question 4
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Which of the following is one of Michael Porter's five forces of competitive position analysis?
Detailed Solution for Test: Market Segmentation - 2 - Question 4
One of Michael Porter's five forces of competitive position analysis is Supplier Power. It refers to how easy it is for suppliers to raise prices and factors such as the uniqueness of their products or services, their relative size and strength in the market, and the cost of switching between suppliers.
Test: Market Segmentation - 2 - Question 5
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What is the final step in the market positioning process?
Detailed Solution for Test: Market Segmentation - 2 - Question 5
The final step in the market positioning process is testing the effectiveness of the final brand positioning concept. This involves conducting tests to gather qualitative and quantitative data on customer perceptions and expectations, which will help solidify the winning positioning concept.
Test: Market Segmentation - 2 - Question 6
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What is the purpose of comparing and contrasting your brand with competitors?
Detailed Solution for Test: Market Segmentation - 2 - Question 6
The purpose of comparing and contrasting your brand with competitors is to determine the strengths and weaknesses of your own business. This analysis helps identify areas where your brand can differentiate itself and fill gaps in the market.
Test: Market Segmentation - 2 - Question 7
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Why is repositioning a brand a challenging task?
Detailed Solution for Test: Market Segmentation - 2 - Question 7
Repositioning a brand is a challenging task because it can compromise the credibility of the brand. Once a brand has established a positioning, it becomes difficult to change without undermining the trust and credibility built with the target audience.
Test: Market Segmentation - 2 - Question 8
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What should be included in a market positioning statement?
Detailed Solution for Test: Market Segmentation - 2 - Question 8
A market positioning statement should include the target customer and their needs, the product or brand name, and a statement of distinction. It should clearly state who the company is, who they are not, what problems exist in the market, how they solve those problems, and what makes them unique.
Test: Market Segmentation - 2 - Question 9
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What is the primary purpose of a market positioning strategy?
Detailed Solution for Test: Market Segmentation - 2 - Question 9
The primary purpose of a market positioning strategy is to solidify the identity of a company, and its products or services, in a unique space within the minds of the target audience. It aims to set the brand apart from the competition and influence the way the target audience perceives the brand.
Test: Market Segmentation - 2 - Question 10
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Why is it important to test the effectiveness of a brand positioning concept?
Detailed Solution for Test: Market Segmentation - 2 - Question 10
It is important to test the effectiveness of a brand positioning concept to ensure that it aligns with customer perceptions and expectations. Testing helps gather data on customer responses and preferences, which can inform future marketing and branding decisions.
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