Ch 3: MTTC Marketing: Strategies & Segmentation

About This Chapter

Prepare for the MTTC Marketing Education test by studying our in-depth, engaging video lessons to learn all about marketing strategies and market segmentation. Test your comprehension with the corresponding quizzes to see if you're ready for test day.

MTTC Marketing: Strategies & Segmentation - Chapter Summary

The video lessons in this chapter will guide your review of the ins and outs of basic marketing strategies and the role that segmentation plays in markets for the MTTC Marketing Education exam. Follow along with our handy video transcripts to review common methodologies, and learn how marketing professionals determine what strategies will work best for their businesses. This chapter will prepare you to:

  • Define and explain the values of common marketing strategies
  • Explain how best to approach foreign and global markets
  • Identify strategic marketing alternatives
  • Find the balance in product, place, price and promotion
  • Discuss the goal and ethics of target marketing
  • Examine market segmentation and the role of consumer categorization

Each lesson was designed by our awesome instructors to teach you about marketing strategies and segmentation in a fun, easy way. Look at the factors that affect marketing professionals' every day decisions and then see what you've learned with the corresponding self-assessments quizzes.

Objectives of the Strategies & Segmentation Chapter

The MTTC Marketing Education exam is designed for those looking to earn a certification to teach marketing in the state of Michigan. You will have four-and-a-half hours to complete the 100 multiple-choice questions on this paper-based test. To pass, you must earn a score of 220.

The category of marketing foundations makes up 40% of the questions on the Marketing Education test, and this section includes questions on topics relating to market strategies and segmentation. Prepare for these questions with our multiple-choice quizzes, which present questions in a format similar to the actual MTTC test.

12 Lessons in Chapter 3: MTTC Marketing: Strategies & Segmentation
Test your knowledge with a 30-question chapter practice test
What Is Marketing Strategy? - Examples & Objectives

1. What Is Marketing Strategy? - Examples & Objectives

In this lesson, we will focus on the components and core elements used to plan a marketing strategy. In addition, we will discuss the importance of measuring the impact of a marketing strategy.

Strategies for Reaching Global Markets: Examples & Types

2. Strategies for Reaching Global Markets: Examples & Types

In 2013, the global market had over seven billion potential consumers with needs and wants to be fulfilled. In this lesson, you'll learn about strategies businesses can use to tap this immense market.

Breaking Into Foreign Markets: International Marketing Strategies

3. Breaking Into Foreign Markets: International Marketing Strategies

Companies look to international markets to increase their sales and profits. Market managers must decide on the mode of entry into a foreign market. The options, ranging from least to most risky, are exporting, licensing, franchising, contract manufacturing, joint ventures and direct investments.

Competitive Advantage: The Importance of Strategic Marketing

4. Competitive Advantage: The Importance of Strategic Marketing

Companies have many options when it comes to gaining market share and increasing profits. Learn about strategic marketing and the tools companies use to their advantage.

How to Identify Strategic Alternatives in Marketing

5. How to Identify Strategic Alternatives in Marketing

Marketing managers must decide the type of strategic alternative that will be undertaken for their marketing plan. Managers can choose from four options to increase sales and profits.

The Marketing Mix: Product, Place, Price & Promotion

6. The Marketing Mix: Product, Place, Price & Promotion

A marketing plan is the central part of the overall marketing strategy. A marketing plan's main focus is the marketing mix, which consists of product, place, promotion and price decisions. All four elements are very flexible and have many options. The main purpose of the marketing mix is to effectively communicate with the target market.

Target Market Strategies for Successful Business

7. Target Market Strategies for Successful Business

If you've ever felt persuaded to buy an item by an ad, you've likely been defined as part of a target market. Though you may not know it, advertisements are created specifically for people similar to you. In this lesson, you'll learn how marketing firms identify a target market, create basic target market strategies and use a marketing mix for a product or service.

Ethical & Unethical Target Marketing in Business

8. Ethical & Unethical Target Marketing in Business

Companies are desperate to acquire customers, and some will use inappropriate ways to gain their attention. In this lesson, you'll learn how to discern ethical from unethical target marketing, using the example of marketing to vulnerable populations.

Market Segmentation: Why Market Segments Are Important to Marketers

9. 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!

Market Segmentation: Geographic, Demographic, Psychographic & More

10. 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.

How to Segment Business Markets Step-by-Step

11. 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.

Retail Segments, Target Markets and Marketing Strategies

12. Retail Segments, Target Markets and Marketing Strategies

In this lesson, you will learn how to identify four different retail segments and gain an understanding of how producers of goods and services use different types of retailers to reach the different target markets that buy their products.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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