About This Chapter
MEGA Marketing: Segmentation & Product Marketing - Chapter Summary
Watch the lessons of this chapter to improve your understanding of the objectives of marketing segmentation, product development, product promotion and the difference between marketing business products and consumer products. In these lessons, our professional instructors will explain the different aspects of these topics and try to help you prepare for related questions on the Missouri Education Gateway Assessments (MEGA) Marketing exam regarding:
- What marketing segmentation is and why it's important to marketers
- Advantages and disadvantages of demographic, geographic and psychographic market segmentation
- The four segments of business marketing and their characteristics
- Identifying the key characteristics that will make products stand out in the target market
- Difference between business products and consumer products
- Strategies, processes and importance of product development for business growth
- The relationship between branding and brand equity
- Different aspects of business-to-business sales and business-to-consumer sales
For an additional review of the material presented in these lessons. read the lesson transcripts after watching the lesson videos. Then take the lesson quizzes to determine how well you retained the information presented in each lesson. To reinforce your understanding of the material you don't know, use the video tags from the quiz results to return to and study the parts of the lessons that explain the topics you missed.
MEGA Marketing: Segmentation & Product Marketing Objectives
Passing the MEGA Marketing exam is required for certification to teach high school marketing classes in Missouri. This two-hour long, computer-based exam will ask you a series of 100 multiple-choice questions that will assess your understanding of marketing. Both the content domains of Core Marketing Principles, 36% of the exam, and Global Marketing and Research, 28% of the exam, may include some questions regarding the principles and uses of market segmentation and product marketing.
1. What Is a Market Segment? - Definition, Types & Examples
Market segmentation is an alternative to mass marketing and is often more effective. In this lesson, you'll learn what a market segment is, types of market segments, and be provided some examples. A short quiz follows.
2. Market Segmentation: Why Market Segments Are Important to Marketers
Marketing managers must understand the importance of segmenting a market and the specific criteria for successful segmentation. Before the 1960's, most companies tried to market products to the masses with declining success. It is important to identify key target markets!
3. What Is Demographic Segmentation in Marketing? - Definition, Advantages & Disadvantages
There are ways to target a specific market for your product or service. Demographic segmentation is one of the ways to target a specific group of consumers. Read on to learn more about demographic segmentation and its advantages and disadvantages.
4. Market Segmentation: Geographic, Demographic, Psychographic & More
Marketers must be effective at creating niche segments to promote and sell their products or services. There are five specific ways that markets can be segmented in order to create a successful sales opportunity.
5. How to Segment Business Markets Step-by-Step
Discover the four segments of business marketing in this lesson. You will also learn the distinguishing characteristics of each segment so you may easily identify each of them.
6. Positioning and Differentiation in Consumer Marketing
Consumers' perceptions of products and brands are influenced by the marketing and promotional plan. Marketers must identify the key characteristics that are important to the target market and then ensure that their product stands out in the minds of the consumers as the best choice for purchase.
7. What is a Business Product: Definition for Marketers
In this lesson, you'll find out the difference between a consumer product and a business product. You will also learn about the different business categories and seven types of business products.
8. Consumer Products: Convenience, Shopping, Specialty & Unsought Products
In this lesson, you will learn the difference between business and consumer products. We will also discuss the different ways they can be classified, which include the areas of convenience, shopping, specialty and unsought.
9. Product Development and Business Growth: Process & Strategies
Product development is an essential part of any company's growth strategy. It allows for growth in sales and market share. This development, though, is a finely tuned process that we will discuss in this lesson.
10. Branding and Brand Equity in Business Marketing
Brand and brand equity go hand-in-hand in the marketing arena. Here, we will discuss how a brand develops and how that leads to increased brand equity.
11. B2B vs. B2C: How Business Marketing Differs from Consumer Marketing
A business-to-business sales situation has numerous key differences from a business-to-consumer situation. Marketing managers must develop a business selling strategy and be aware of the five different aspects of business buying behavior compared to consumer buying.
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Other chapters within the MEGA Marketing: Practice & Study Guide course
- MEGA Marketing: Basic Concepts
- MEGA Marketing: Communication Methods & Functions
- MEGA Marketing: Environments & Strategies
- MEGA Marketing: Ethics & Public Relations
- MEGA Marketing: The Business Cycle
- MEGA Marketing: Market System Economics & Politics
- MEGA Marketing: Economic Growth & Indicators
- MEGA Marketing: Business Ownership
- MEGA Marketing: Business Plans
- MEGA Marketing: Functions of Management
- MEGA Marketing: Principles of Financial Management
- MEGA Marketing: Business Calculation Basics
- MEGA Marketing: Interpreting Data & Graphs
- MEGA Marketing: Graphing & Evaluating Equations & Functions
- MEGA Marketing: Quadratic Equations & Functions
- MEGA Marketing: Probability & Statistics for Business
- MEGA Marketing: Depreciation & Salvage Values
- MEGA Marketing: Interest & Purchases
- MEGA Marketing: Financial Analysis Calculations
- MEGA Marketing: Product Development & Retailing
- MEGA Marketing: Services Marketing
- MEGA Marketing: The Marketing Mix & Promotional Strategies
- MEGA Marketing: Consumer Protection Laws
- MEGA Marketing: Selling & Pricing Strategy
- MEGA Marketing: Channel Management
- MEGA Marketing: Competitive Advantage
- MEGA Marketing: Consumer Decision Making
- MEGA Marketing: International Marketplace
- MEGA Marketing: Research & Data Applications
- MEGA Marketing: Computer Literacy
- MEGA Marketing: Careers in Marketing
- MEGA Marketing Flashcards