association of international product marketing
and management// certified brand manager
exam 2024
Ansoff's Opportunity Matrix - ANSWER>>new product new market=
diversification strategy
new product existing market= product development strategy
existing product new market= market development strategy
existing product existing market= market penetration strategy
Boston Consulting Group Matrix - ANSWER>>low relative market share
low market growth rate = dog
low relative market share high market growth rate= question mark
high relative market share low market growth rate= cash cow
high relative market share high market growth rate= star
Porter's Generic Strategies - ANSWER>>product uniqueness advantage
narrow market segment target scope= focus strategy (differentiation)
product uniqueness advantage product uniqueness broad industry wide
target scope= differentiation strategy
low cost advantage narrow market segment target scope= focus strategy
(low cost)
low cost advantage broad industry wide target scope= cost leadership
strategy
,SWOT - ANSWER>>strengths > weakness
opportunities > threats
Market - ANSWER>>heterogeneous set of people or org with needs or
wants and the ability and willingness to buy
- It is all the ppl or all the org whose needs/wants are accomplished through
our products and services
Market segment - ANSWER>>a more homogeneous subgroup of people or
organizations sharing one or more characteristics that cause them to have
similar product needs
- They share some characteristics that's gonna help us understand how we
provide value to each of those segments bc there's gonna be some
differentiation across the segments
- Segments in general are groups of customers who have common needs
and want and will tend to respond similarly to a marketing action
Market segmentation - ANSWER>>the process of dividing a market into
meaningful relatively similar, identifiable segments
- It's the act of actually creating these market segments
- Its understanding the data about the marketplace to be able to group
individuals or organizations together based on similar or shared needs and
wants
We segment bc... - ANSWER>>Benefits the customer
- convenience and time savings
- tailored products and services
- relevant offers
- personalized experience
, Benefits the organization
- identification of unfulfilled needs
- better product design
- more targeted promotions
- increased customer satisfaction
Criteria for effective market segmentation - ANSWER>>Identifiable
Substantial
Accessible
Stable
Differentiable
Actionable
Identifiable - ANSWER>>segments must be identifiable and their size
measurable
Substantial - ANSWER>>segment must be large enough to warrant a
special marketing mix
Accessible - ANSWER>>members of targeted segments must be
reachable with marketing mix
Stable - ANSWER>>segments must be stable over a long enough period of
time that any marketing effort would be successful
Differentiable - ANSWER>>customers in a segment should have similar
needs, and these needs should differ from the needs of customers in other
segments
Actionable - ANSWER>>organization should be able to create products
and marketing programs for attracting and serving customers in the
identified segment
common methods for consumer segmentation - ANSWER>>Geographic
and management// certified brand manager
exam 2024
Ansoff's Opportunity Matrix - ANSWER>>new product new market=
diversification strategy
new product existing market= product development strategy
existing product new market= market development strategy
existing product existing market= market penetration strategy
Boston Consulting Group Matrix - ANSWER>>low relative market share
low market growth rate = dog
low relative market share high market growth rate= question mark
high relative market share low market growth rate= cash cow
high relative market share high market growth rate= star
Porter's Generic Strategies - ANSWER>>product uniqueness advantage
narrow market segment target scope= focus strategy (differentiation)
product uniqueness advantage product uniqueness broad industry wide
target scope= differentiation strategy
low cost advantage narrow market segment target scope= focus strategy
(low cost)
low cost advantage broad industry wide target scope= cost leadership
strategy
,SWOT - ANSWER>>strengths > weakness
opportunities > threats
Market - ANSWER>>heterogeneous set of people or org with needs or
wants and the ability and willingness to buy
- It is all the ppl or all the org whose needs/wants are accomplished through
our products and services
Market segment - ANSWER>>a more homogeneous subgroup of people or
organizations sharing one or more characteristics that cause them to have
similar product needs
- They share some characteristics that's gonna help us understand how we
provide value to each of those segments bc there's gonna be some
differentiation across the segments
- Segments in general are groups of customers who have common needs
and want and will tend to respond similarly to a marketing action
Market segmentation - ANSWER>>the process of dividing a market into
meaningful relatively similar, identifiable segments
- It's the act of actually creating these market segments
- Its understanding the data about the marketplace to be able to group
individuals or organizations together based on similar or shared needs and
wants
We segment bc... - ANSWER>>Benefits the customer
- convenience and time savings
- tailored products and services
- relevant offers
- personalized experience
, Benefits the organization
- identification of unfulfilled needs
- better product design
- more targeted promotions
- increased customer satisfaction
Criteria for effective market segmentation - ANSWER>>Identifiable
Substantial
Accessible
Stable
Differentiable
Actionable
Identifiable - ANSWER>>segments must be identifiable and their size
measurable
Substantial - ANSWER>>segment must be large enough to warrant a
special marketing mix
Accessible - ANSWER>>members of targeted segments must be
reachable with marketing mix
Stable - ANSWER>>segments must be stable over a long enough period of
time that any marketing effort would be successful
Differentiable - ANSWER>>customers in a segment should have similar
needs, and these needs should differ from the needs of customers in other
segments
Actionable - ANSWER>>organization should be able to create products
and marketing programs for attracting and serving customers in the
identified segment
common methods for consumer segmentation - ANSWER>>Geographic
