Market Segmentation Practice Exam

About Market Segmentation
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. 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.

In dividing or segmenting markets, researchers typically look for common characteristics such as shared needs, common interests, similar lifestyles, or even similar demographic profiles. The overall aim of segmentation is to identify high yield segments – that is, those segments that are likely to be the most profitable or that have growth potential – so that these can be selected for special attention (i.e. become target markets). Many different ways to segment a market have been identified. Business-to-business (B2B) sellers might segment the market into different types of businesses or countries. While business-to-consumer (B2C) sellers might segment the market into demographic segments, lifestyle segments, behavioural segments, or any other meaningful segment.

Why is Market Segmentation important?
Market segmentation can help you to define and better understand your target audiences and ideal customers. If you’re a marketer, this allows you to identify the right market for your products and then target your marketing more effectively. Similarly, publishers can use market segmentation to offer more precisely targeted advertising options and to customize their content for different audience groups.

The benefits of market segmentation are as follows:
•    Determining market opportunities
•    Adjustments in marketing appeals
•    Developing marketing programs
•    Designing a product
•    Media selection
•    Timing of marketing efforts
•    Efficient use of resources
•    Better service to customers
•    Helps in fixing prices
•    Assist in distribution strategies.

Who should take the Market Segmentation Exam?
•    Marketing, PR, Advertising or branding  professionals
•    Business owners
•    Entrepreneurs
•    Anyone who wants to assess their marketing skills
•    PR, Advertising or branding managers and senior executives
•    Marketing consultants
•    Professionals working in outsourced marketing companies

Knowledge and Skills required for the Market Segmentation

Successful market segmentation professionals have few skills which make them excel and it includes critical thinking, good communication skills and quick learning.

Market Segmentation Practice Exam Objective

Market Segmentation exam focuses on assessing your skills and knowledge in analyzing market, market segmenting and targeting along with delivering value.

Market Segmentation Practice Exam Pre-requisite

There are no prerequisites for the Market Segmentation exam.

Market Segmentation Certification Course Outline

1. Capturing Marketing Insights
1.1 Marketing Information Systems
1.2 Analysing the Macro environment
1.3 Marketing Research
1.4 Measuring Marketing Productivity
1.5 Forecasting and Demand Measurement
1.6 Marketing Mix Modelling

2. Connecting With Customers
2.1 Creating Customer Value, Satisfaction, and Loyalty
2.2 Maximizing Customer Lifetime Value
2.3 Cultivating Customer Relationships
2.4 Customer Database and Marketing

3. Analysing Consumer Markets
3.1 Factors influencing consumer behaviour
3.2 Major Psychological Processes
3.3 Buying Decision Process

4. Analysing Business Markets
4.1 Organisational Buying
4.2 Business Buying Decision Process
4.3 Procurement Process
4.4 Managing B2B Customer Relationships

5. Identifying Market Segments And Targets
5.1 Levels of Market Segmentation
5.2 Approaches to Segmenting Markets
5.3 Market Targeting

6. Delivering Value
6.1 Designing and Managing Integrated Marketing Channels
6.2 Role of Marketing Channels
6.3 Analyzing Customers’ Desired Service Output Levels
6.4 Identifying Major Channel Alternatives
6.5 Managing Retailing, Wholesaling, and Logistics
6.6 Channel Integration and Systems
6.7 The New Competition in Retailing
6.8 Legal and Ethical Issues in Channel Relations
6.9 The Value Chain
6.10 Value Delivery—Companies’ Requirement

Exam Format and Information
Certification name – Market Segmentation Certification
Exam duration – 60 minutes
Exam type - Multiple Choice Questions
Eligibility / pre-requisite - None
Exam language - English
Exam format - Online
Passing score - 25
Exam Fees  - INR 1199