Asked by Jocelyn Cooperwood on Jul 03, 2024
Verified
Red Unicorn Inc.is a company that manufactures wooden planks for construction.It has categorized its customers on the bases of their product requirements into construction companies,wholesalers,and government institutions.Which of the following marketing strategies is best illustrated in this scenario?
A) Mass production
B) Market segmentation
C) Market positioning
D) Product differentiation
E) Product diversification
Market Segmentation
A strategy whereby a firm divides the total market into groups of people who have relatively similar product needs.
Market Positioning
The process of establishing the image or identity of a brand or product so that consumers perceive it in a certain way relative to competitors.
- Absorb the essentials of market segmentation and its strategic importance in pinpointing and catering to niche consumer groups.
Verified Answer
AJ
alezandra jordanJul 09, 2024
Final Answer :
B
Explanation :
Red Unicorn Inc. is using market segmentation by categorizing its customers based on their specific product requirements, allowing the company to target each segment with tailored marketing strategies.
Learning Objectives
- Absorb the essentials of market segmentation and its strategic importance in pinpointing and catering to niche consumer groups.
Related questions
If a Company Develops an Advertising Campaign Exclusively for a ...
_____ Refers to Standardizing Products by Dividing Them into Subgroups ...
Define a Market and Describe Some of Its Characteristics
Describe at Least Three Market Segmentation Strategies That May Be ...
While Demographic and Geographic Segmentation of Retail Customers Are Relatively ...