Question

We can segment business markets with some of the same variables we use in consumer markets, such as geography, benefits sought, and usage rate, but business marketers also use other variables. Which of the following best describes a scenario in which Meredith Corporation uses another variable in its segment business market?

a. Meredith Corporation creates different versions for different regions, modifying the copy to better serve the specific target market.
b. Meredith identifies the economic status of a market region and raises its product's price so that profits will increase. Meredith Corporation feels that if the consumer has the equity to pay a higher price and wants the product, he will pay more.
c. Meredith identifies with one segment market and sells only to that market.
d. Meredith Corporation creates multiple names for the same product, based on local psychographics.
e. Meredith creates unique associations to low cost and convenience in an overlooked niche market.

Answer 1

Meredith Corporation segments its business market uniquely by creating associations to low cost and convenience, specifically targeting an overlooked niche market, which is a strategic differentiation beyond common segmenting factors.

Step-by-step explanation:

The scenario that best describes a situation in which Meredith Corporation uses another variable in its segment business market is e. Meredith creates unique associations to low cost and convenience in an overlooked niche market. This approach involves identifying a specific segment of the business market that has unique needs, which have not been adequately addressed by current offerings. By tailoring their product or service to meet these needs, Meredith Corporation can create a strong position within this niche market. This tactic is a part of their market segmentation strategy, which goes beyond common variables like geography or usage rate and taps into specific customer needs and preferences.