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Match the items of List I with the items of List II and choose the correct answer from the code given below.   List I    List II (a)  The economy was characterised by   small regional suppliers who sold  goods on a local basis (i)  Mass marketing (b)  Standardised, branded goods were sold   at national level (ii)  Hyper-segmentation  (c)  Era of market differentiation based on  demographic, socio-economic and life  style factors (iii)  Segmentation (d)  Technological advancements, especially  in the area of digital communication,   allow marketers to communicate with  individual consumers or very small  groups (iv)  Fragmentation

Match the items of List I with the items of List II and choose the correct answer from the code given below.   List I    List II (a)  The economy was characterised by   small regional suppliers who sold  goods on a local basis (i)  Mass marketing (b)  Standardised, branded goods were sold   at national level (ii)  Hyper-segmentation  (c)  Era of market differentiation based on  demographic, socio-economic and life  style factors (iii)  Segmentation (d)  Technological advancements, especially  in the area of digital communication,   allow marketers to communicate with  individual consumers or very small  groups (iv)  Fragmentation Correct Answer (a) - (iv), (b) - (i), (c) - (iii), (d) - (ii)

Market segmentation:

  1. Market segmentation is a process of dividing a heterogeneous market into relatively more homogenous segments based on certain parameters like geographic, demographic, psychographic, and behavioural.
  2. It is the activity of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on some type of shared characteristics.
  3. Many marketers use the S-T-P approach; Segmentation → Targeting → Positioning to provide the framework for marketing planning objectives.
  4. That is, a market is segmented, one or more segments are selected for targeting, and products or services are positioned in a way that resonates with the selected target market or markets.

The business historian, Richard S. Tedlow, identifies four stages in the evolution of market segmentation:

  1. Fragmentation (pre-1880s): The economy was characterized by small regional suppliers who sold goods on a local or regional basis
  2. Unification or mass marketing (the 1880s–1920s): As transportation systems improved, the economy became unified. Standardized, branded goods were distributed at a national level. Manufacturers tended to insist on strict standardization in order to achieve scale economies with a view to penetrating markets in the early stages of a product's lifecycle. e.g. the Model T Ford
  3. Segmentation (the 1920s–1980s): As market size increased, manufacturers were able to produce different models pitched at different quality points to meet the needs of various demographic and psychographic market segments. This is the era of market differentiation based on demographic, socio-economic, and lifestyle factors.
  4. Hyper-segmentation (post-1980s): a shift towards the definition of ever more narrow market segments. Technological advancements, especially in the area of digital communications, allow marketers to communicate with individual consumers or very small groups. This is sometimes known as one-to-one marketing.

Related Questions

Which of the following statements are true/ false?
1. In the market economy, the prices are determined by the level of demand and supply in the market.
2. Mixed economy is an economic system in which both the private and public sector have equal roles to play.
3. Planned economy is also known as a centralised economy, controlled economy or command economy.
4. In the market economy, governments do not have much role to play.
Read the following passage and answer the item that follows. Your answers to this item should be based on the passage only. We live in digital times. The digital is not just something we use strategically and specifically to do a few tasks. Our very perception of who we are, how we connect to the world around us, and the ways in which we define our domains of life, labour and language are hugely structured by the digital technologies. The digital is everywhere and, like air, invisible. We live within digital systems, we live with intimate gadgets, we interact through digital media, and the very presence and imagination of the digital has dramatically restructured our lives. The digital, far from being a tool, is a condition and context that defines the shapes and boundaries of our understanding of the self, the society, and the structure of governance. Which among the following is the most logical and essential message conveyed by the above passage?
Match List I with List II List I (Examples of Communication) List II (Type of Communication) a)  A company boss telephones his / her secretary for some help from outside. i)  Marketing communication b)  A company issues a circular of guidelines for its employees. ii)  Horizontal communication c)  Employees discuss certain issues among themselves. iii)  Vertical communication d)  A company sends a formal letter to its retailers and wholesalers. iv)  Informal communication   Choose the correct answer from the options given below:
List I embodies situational leadership style and List II indicates the power resource which supports them. List I Situational leadership style List II Power resource a)  Directive style (HT / LR) i) Expert power b) Supportive style (HT / HR) ii)  Information power c) Participative style (LT / HR) iii)  Reward power d)  Delegating style (LT / LR) iv)  Coercive power   *HT = High Task LT = Low Task HR = High Relationship LR = Low Relationship Choose the correct answer from the options given below:
The question given below consists of a statement, followed by three arguments numbered I, II and III. You have to decide which of the arguments is/are ‘strong’ arguments and which is/are ‘weak’ arguments and accordingly choose your answer from the alternatives given below each question. Statement: Automatic teller machines (ATMs) remain a mainstay of India’s financial inclusion drive and need the central bank’s support to stay relevant amid the government’s push for digital payments. Digital payments haven’t kept pace with the requirement for financial services in far-flung areas and a lack of ATMs there could prove disastrous for the economy.Which among the following arguments support the above statement in the best possible manner? Arguments: I. There is still strong demand for cash and if banks do not invest in the ATM infrastructure, especially in rural areas, people might opt to hoard cash instead. II. To maintain a balance between the two modes of payment, there is a need to open up regulatory sandboxes for ATMs to allow manufacturers to collaborate with financial-technology startups. III. Demonetisation pulled out over 85% of the cash in circulation, forcing people to embrace digital payments. Since then, cash in circulation has reverted to its pre-demonetisation days but digital payments have come to stay. 
Consider the following statements.
1. The ultimate level of market segmentation leads to one-to-one marketing.
2. Any attempt to target marketing to children or minorities is discriminatory and unethical.
3. The internet as a medium of adverting has high selectivity and cost.
4. A 'Push' strategy is better suited for directing the marketing effort towards final consumers.
Indicate the correct answer.
Match List I with List II for scale construction techniques   List I   List II A. Arbitrary approach I. Number of individual items are developed into a test which is given to a group of respondents B. Consensus approach II. Scale is developed on an ad‐hoc basis C. Item Analysis approach III. Chosen on the basis of their conforming to some ranking of items with ascending and descending discriminating power D. Cumulative scales IV. Panel of Judges evaluate the items chosen for inclusion in the instrument Choose the correct answer from the options given below:
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.
Ants have been living on the earth for more than 100 million years and can be found almost anywhere on the planet. It is estimated that there are about 20000 different species of ants. For this reason ants have been called Earth's most successful species. If you watch ants for any length of time you will see that they really do communicate with each other and very effectively too. Ants communicate by touching each other with their antennae. Ants also use chemicals called pheromones to leave scent trails for other ants to follow. Ants build many different types of homes. Many ants build simple little mounds out of dirt or sand. Other ants use small sticks mixed with dirt and sand to make a stronger mound that offers protection from rain. Western Harvester ants make a small mound on top, but then tunnels up to 15 feet straight down to hibernate during winter. Ant mounds consist of many chambers connected by tunnels. Different chambers are used for nurseries, food storage, and resting places for the worker ants. Some ants live in wood like termites. Army ants don't make a home at all but travel in a large groups searching for food. Ants are social insects which means they live in large colonies or groups. Some colonies consist of millions of ants. There are three types of ants in each species, the queen, the sterile female workers and males. The male ants only serve one purpose, to mate with future queen ants and do not live very long. The queen grows to adulthood, mates, and then spends rest of her life laying eggs. A colony may have only one queen, or there may be many queens depending on the species. Ants go through four stages of development: egg, larva, pupa and adult.
Why are ants called the 'Earth's' most successful species?
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.
Ants have been living on the earth for more than 100 million years and can be found almost anywhere on the planet. It is estimated that there are about 20000 different species of ants. For this reason ants have been called Earth's most successful species. If you watch ants for any length of time you will see that they really do communicate with each other and very effectively too. Ants communicate by touching each other with their antennae. Ants also use chemicals called pheromones to leave scent trails for other ants to follow. Ants build many different types of homes. Many ants build simple little mounds out of dirt or sand. Other ants use small sticks mixed with dirt and sand to make a stronger mound that offers protection from rain. Western Harvester ants make a small mound on top, but then tunnels up to 15 feet straight down to hibernate during winter. Ant mounds consist of many chambers connected by tunnels. Different chambers are used for nurseries, food storage, and resting places for the worker ants. Some ants live in wood like termites. Army ants don't make a home at all but travel in a large groups searching for food. Ants are social insects which means they live in large colonies or groups. Some colonies consist of millions of ants. There are three types of ants in each species, the queen, the sterile female workers and males. The male ants only serve one purpose, to mate with future queen ants and do not live very long. The queen grows to adulthood, mates, and then spends rest of her life laying eggs. A colony may have only one queen, or there may be many queens depending on the species. Ants go through four stages of development: egg, larva, pupa and adult. Antennae are used by ants to
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.
Ants have been living on the earth for more than 100 million years and can be found almost anywhere on the planet. It is estimated that there are about 20000 different species of ants. For this reason ants have been called Earth's most successful species. If you watch ants for any length of time you will see that they really do communicate with each other and very effectively too. Ants communicate by touching each other with their antennae. Ants also use chemicals called pheromones to leave scent trails for other ants to follow. Ants build many different types of homes. Many ants build simple little mounds out of dirt or sand. Other ants use small sticks mixed with dirt and sand to make a stronger mound that offers protection from rain. Western Harvester ants make a small mound on top, but then tunnels up to 15 feet straight down to hibernate during winter. Ant mounds consist of many chambers connected by tunnels. Different chambers are used for nurseries, food storage, and resting places for the worker ants. Some ants live in wood like termites. Army ants don't make a home at all but travel in a large groups searching for food. Ants are social insects which means they live in large colonies or groups. Some colonies consist of millions of ants. There are three types of ants in each species, the queen, the sterile female workers and males. The male ants only serve one purpose, to mate with future queen ants and do not live very long. The queen grows to adulthood, mates, and then spends rest of her life laying eggs. A colony may have only one queen, or there may be many queens depending on the species. Ants go through four stages of development: egg, larva, pupa and adult. What does the Western Harvester do in winter ?