Target Markets Segmentation And Positioning Model Quiz

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Quizzes Created: 106 | Total Attempts: 178,123

Questions: 10 | Attempts: 3,251 | Updated: Sep 21, 2024

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Target Markets Segmentation And Positioning Model Quiz - Quiz

Discover how well you understand the core concepts of market strategy with our "Target Markets Segmentation and Positioning Model Quiz." This quiz challenges you to explore the essential elements of market segmentation and positioning in the hospitality industry. From understanding the basics of market segmentation and identifying the right tools to evaluate guest bases, to analyzing how properties position themselves to attract the right market segments, this quiz covers it all.

You'll be tested on key concepts such as identifying existing market segments, interpreting positioning statements, and understanding the importance of guest perception. Perfect for marketing students, professionals, or Read moreanyone interested in mastering the art of market strategy, this quiz will help you gauge your knowledge of how businesses design effective market positions and communicate their unique advantages.

Target Markets Segmentation and Positioning Model Questions and Answers

1.

Market segmentation is:
- A.
  
  The number of zip codes represented by the hotel’s guests.
- B.
  
  Viewing a market as a number of smaller market segments with similar product and service preferences.
- C.
  
  A balance between types of guests, such as business travelers, leisure vacationers, corporate groups, etc.
- D.
  
  All of the above.
Correct Answer
B. Viewing a market as a number of smaller market segments with similar product and service preferences.

Explanation
Market segmentation is the process of dividing a market into smaller segments based on shared characteristics, such as demographics, psychographics, or behavior. This allows businesses to target specific groups of customers with tailored marketing strategies and offerings that meet their unique needs and preferences. By viewing the market as a collection of smaller segments, businesses can better understand and cater to the diverse preferences and demands of their customers, ultimately increasing their chances of success in the market.

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1
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2.

_____________ can help identify existing market segments.
- A.
  
  Guest profiles
- B.
  
  Positioning statements
- C.
  
  Surveys
- D.
  
  Revenue grids
Correct Answer
C. Surveys

Explanation
Surveys can help identify existing market segments by gathering direct feedback from a large group of people. They allow businesses to understand customer preferences, behaviors, and demographic data. By analyzing survey responses, companies can segment the market into distinct groups based on factors such as age, income, preferences, or buying habits, helping them target specific audiences effectively. Surveys are a powerful tool for identifying consumer trends and patterns, which aids in better product positioning and marketing strategies.

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13
1
3.

Which forms help a hotel determine the guest base and the decline or growth of a market segment?
- A.
  
  Revenue forecasts
- B.
  
  Revenue grid
- C.
  
  Occupancy chart
- D.
  
  Both b and c
Correct Answer
D. Both b and c

Explanation
Both the revenue grid and the occupancy chart help a hotel determine the guest base and the decline or growth of a market segment. The revenue grid provides information on the revenue generated by different market segments, allowing the hotel to analyze trends and identify which segments are growing or declining. The occupancy chart displays the occupancy rates for each market segment, providing insights into the demand and popularity of different segments. By utilizing both of these forms, a hotel can gain a comprehensive understanding of their guest base and market segment performance.

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0
1
4.

Which of the following is not a way that a market can be segmented?
- A.
  
  Room type
- B.
  
  Demographics
- C.
  
  Geography
- D.
  
  Lifestyle
Correct Answer
A. Room type

Explanation
Market segmentation refers to dividing a market into distinct groups based on certain characteristics. In this case, room type is not a way to segment a market. Segmentation is typically done based on factors such as demographics (age, gender, income), geography (location, climate), and lifestyle (interests, behaviors). Room type, on the other hand, is a specific attribute or feature within a market segment, rather than a method of segmentation itself.

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5.

The perception of a property by its guests or potential guests is known as the property’s market segmentation.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
The perception of a property by its guests or potential guests is known as the property's positioning, not market segmentation. Positioning is how a property is viewed in the minds of customers relative to competitors, while market segmentation is the process of dividing a market into distinct groups of potential customers.

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2
0
6.

A positioning statement effectively communicates the property’s advantages to its target markets.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
Positioning is not just about advertising; it encompasses the entire strategy of creating a specific image or perception of a product or brand in the minds of consumers. This includes product features, pricing, distribution, and overall brand identity.

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7.

Positioning is about advertising only.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
It is essential to regularly review the guest mix to adapt to changing preferences and market conditions. Continual evaluation helps in better targeting and maintaining guest satisfaction, ultimately contributing to the property's success.

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8.

Discovering the needs and wants of each segment is part of developing a positioning strategy.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
Discovering the needs and wants of each segment is an essential step in developing a positioning strategy. By understanding the specific needs and preferences of different customer segments, a company can tailor its products, services, and marketing messages to effectively target and appeal to each segment. This helps in creating a unique and compelling position in the market, which can lead to increased customer satisfaction and loyalty. Therefore, the statement "Discovering the needs and wants of each segment is part of developing a positioning strategy" is true.

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9.

Once the property has determined its guest mix, it is considered wasteful to review it.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
It is not wasteful to review the guest mix regularly. In fact, continually assessing the guest mix is crucial for adapting to changing market trends, guest preferences, and competitive dynamics. Regular reviews help a property stay aligned with its target market's needs and optimize its strategies for guest satisfaction and business growth.

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10.

The process of designing a property’s market position is known as:
- A.
  
  Market segmentation.
- B.
  
  Guest profiling.
- C.
  
  Positioning.
- D.
  
  Strategic planning.
Correct Answer
C. Positioning.

Explanation
Positioning refers to the process of designing a property's market position. It involves creating a unique and favorable perception of the property in the minds of the target market. This includes identifying the property's unique selling points, determining the target market, and developing a marketing strategy that effectively communicates the property's value proposition to the target market. By positioning the property effectively, it can differentiate itself from competitors and attract the desired target market.

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Current Version
Sep 21, 2024

Quiz Edited by
ProProfs Editorial Team
Feb 20, 2009

Quiz Created by
Aoht

Target Markets Segmentation And Positioning Model Quiz

Target Markets Segmentation and Positioning Model Questions and Answers

Market segmentation is:

_____________ can help identify existing market segments.

Which forms help a hotel determine the guest base and the decline or growth of a market segment?

Which of the following is not a way that a market can be segmented?

The perception of a property by its guests or potential guests is known as the property’s market segmentation.

A positioning statement effectively communicates the property’s advantages to its target markets.

Positioning is about advertising only.

Discovering the needs and wants of each segment is part of developing a positioning strategy.

Once the property has determined its guest mix, it is considered wasteful to review it.

The process of designing a property’s market position is known as: