Sample interview questions: How do you evaluate the effectiveness and impact of market segmentation strategies?
Sample answer:
Evaluating Market Segmentation Strategies
Quantitative Measures:
- Market share growth: Comparing the market share gained in segmented target markets to overall market share.
- Sales revenue: Analyzing the revenue generated from each target segment to assess its contribution.
- Customer lifetime value (CLTV): Determining the long-term profitability of customers acquired through segmentation strategies.
- Return on investment (ROI): Calculating the revenue generated compared to the costs of implementing the segmentation strategies.
Qualitative Measures:
- Customer satisfaction: Conducting surveys or analyzing customer feedback to gauge the effectiveness of targeting and meeting customer needs.
- Brand reputation: Assessing the impact of segmentation on brand image and customer perception.
- Competitor analysis: Comparing segmentation strategies to those of competitors to identify areas of differentiation and improvement.
- Internal stakeholder feedback: Gathering input f… Read full answer
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