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Week 2 Study Questions

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Page 108 Q. 2 – Explain what market segmentation is
Market segmentation can be defined as the first step into selecting a target market. In each overall market, there are smaller related groups of consumers with similar characteristics and product needs. Segmenting the market can help a business better meet its customer’s needs as well as help define their target market.
Page 108 Q. 4 – Explain why segmentation efforts based on attempts to divide the mass market using few demographic dimensions may be very disappointing
There are many variables involved in demographic segmentation such as age, gender, race, religion, education, income, etc. Because these variables are easy to measure, segmentation based on demographic dimensions is popular in marketing. If a company were to limit the number of demographic dimensions to segment the mass market, they would miss a huge opportunity to cater to their customer’s wants and needs since most of them are based on the variables mentioned above.
Page 135 Q. 8 – Give some examples that indicate how the four P’s might be adjusted to appeal to the Hispanic subculture

Product – The supermarket chain should adjust the products in these stores to appeal to the Hispanic subculture. Hispanics usually place a high value on authenticity, so the store should offer US products as well as an array of authentic Mexican products. Hispanics also like having choices because it gives them a sense of power. There should be plenty of options for them to choose from. The supermarket stores should also provide excellent customer service which Spanish speaking employees. The Hispanic subculture enjoys a sense of belonging and having friendly bilingual service would help them feel like they belong.
Price – For most Hispanic families, there is only one working parent and is usually the father. Because they live off of one income,

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