“One of the most important concepts in marketing is the notion of a “market segment”. Explain in detail what a market segment is, and why market segments are strategically useful for marketers. Use examples that are not from your textbook to support your arguments.”
THINGS TO NOTE:
1. The question asks you to do three things: First, explain what a market segment is, second, explain why they are strategically useful to marketers, and third, give examples of market segments to illustrate your answer. The marker will be looking for all three of these things, and if for example you only do the first and third things (i.e., explain what a market segment is, and give some examples, you will be significantly reducing your possible mark, by as much as 33%, as you will have only attempted 67% of what is asked of you.
2. The question asks for some explanation of the theory (i.e., explain what a market segment is), but also some evidence that you can apply that theory (e.g., by explaining how the theory is useful, and by giving good examples). In some respects, answering the application part of the question is more important. Most people can explain a simple theory like segmentation, but real knowledge is demonstrated when someone can apply that knowledge, and give good examples.
3. When reading the suggested answer below, note that it gets straight to the point, i.e., specifically answering the question. Some students have a tendency to go off track, or to write things that are peripheral, or write material that is not required in the question. This simply wastes time, as you will not earn any marks for writing material that does not specifically answer the question. This is the single most common cause of poor marks in exams. It is easily avoided: just use your pen, and draw blocks around the separate parts of the question, and number each part if you need to. Then, write a brief essay plan, with bullet points, to help you generate a good answer that is clear, and isn’t repetitive or incomplete. Then, as you are writing, every 5 minutes or so, just quickly read what you have written, and ask yourself: “is what I have just written answering the question?” If it is not, then get back to the point immediately.
4. Do not re-write the question! This is completely unnecessary, and wastes valuable time. Just clearly number the question so the marker can see which question you are attempting.
5 Make sure that you set out your answer clearly so that the examiner can see what is in your mind. Some hints;
· Space your answer- don’t cram and squash your response
· Use models and diagrams if relevant and appropriate
· Use headings and sub-headings to highlight the subject of a particular answer section- avoid continuous and condensed script
· Critique your own handwriting – can somebody else read your writing? Practice and have another person critique your writing. Can you print some or all of your question responses?
What is a...