Marketing Chapter 9

Another term for self-concept is

self-image

During which step of the STP process do marketers ask whether the segment is identifiable, substantial, reachable, responsive, and profitable?

Evaluate segment attractiveness

During which step of the STP process do marketers ask whether the segment is identifiable, substantial, reachable, responsive, and profitable? Evaluate segment attractiveness Select segmentation method Develop positioning strategy Select target market Establish overall strategy or objectives

Evaluate segment attractiveness

When a firm selects a segmentation strategy it should never be changed

False

Lawn care products manufacturer Scotts has developed easy-to-follow, annual lawn care programs to help homeowners develop thick, green lawns that will combat weeds, insects, and diseases. The specific steps that must be used and their timing vary based on climate. What type of segmentation should Scotts use as the basis to design these programs?

Geographic

Lawn-care-products manufacturer Scotts has developed easy-to-follow, annual lawn care programs to help homeowners develop thick, green lawns that will combat weeds, insects, and diseases. The specific steps that must be used and their timing vary based on climate. What type of segmentation should Scotts use as the basis to design these programs?

Geographic

Profitable

Marketers must also focus their assessments on the potential profit-ability of each segment, both current and future.

Mr. Dennison knows each and every child who comes in to his Kumon reading center and prides himself on knowing how he can personally address each of their reading challenges. What type of market coverage strategy is Mr. Dennison employing in his business?

Micromarketing

Lifestyles are a component of a psychographic segmentation that describes how an individual lives his or her life to achieve goals

True

______ are goals for life, not just goals one wants to accomplish in a day. They are the overriding desires that drive how a person lives his or her life

self-values

______ segmentation delves into how consumers actually describe themselves.

Psychographic

VAL shows ____ between psychology and lifestyle choices

correlations

VALS enables firms to identify target segments and their underlying ______.

motivations

The overriding desires that drive how people live their lives are called

self-values.

_____ is a tool used to visually display how consumers perceive the position of products or brands in the market on different dimensions relative to competitors.

A perceptual map

Which segmentation method is most closely related to providing value by satisfying customers' needs and wants?

Benefit

When an organization selects a single, primary target market and focuses all its energies on providing a product to fit that market's needs it is using a(n) _____ targeting strategy.

Concentrated

_____ segmentation, the most common means to define segments, involves defining groups based on characteristics such as age, gender, income, and education.

Demographic

_____ segmentation, the most common means to define segments, involves defining groups based on characteristics such as age, gender, income, and education. Geographic Demographic Psychographic Geodemographic Lifestyle

Demographic

What is the first step marketers use to derive a perceptual map?

Determine consumers' perceptions and evaluations of the product or service in relation to competitors'

Large firms with multiple offerings in a particular product category engage in _____ targeting strategies to obtain a bigger share of the market, increase the overall market for the product categories they sell, and diversify their businesses.

Differentiated

When a firm evaluates its overall mission, including its strengths, weaknesses, opportunities, and threats, it is engaged in which step of the segmentation, targeting, and positioning process?

Establishing overall strategy or objectives

When a firm evaluates its overall mission, including its strengths, weaknesses, opportunities, and threats, it is engaged in which step of the segmentation, targeting, and positioning process? Establishing overall strategy or objectives Determining segmentation methods Evaluating segment attractiveness Selecting the target market Developing the positioning strategy

Establishing overall strategy or objectives

Mr. Dennison knows each and every child who comes in to his Kumon reading center, and prides himself on knowing how he can personally address each of their reading challenges. What type of market coverage strategy is Mr. Dennison employing in his business?

Micromarketing

Which of the following positioning approaches was the focus of Volvo's objective to augment its safety image with better driving performance and excitement?

Positioning based on product attributes

Which of the following positioning approaches was the focus of Volvo's objective to augment its safety image with better driving performance and excitement? Positioning based on product attributes Positioning based on symbolism Positioning against a specific competitor Positioning using perceptual mapping Positioning based on profit potential

Positioning based on product attributes

The Nike swoosh is an example of which of the following positioning tools to create a position for the brand that distinguishes it from its competitors?

Positioning based on symbolism

The Nike swoosh is an example of which of the following positioning tools to create a position for the brand that distinguishes it from its competitors? Positioning based on product attributes Positioning based on symbolism Positioning against a specific competitor Positioning using perceptual mapping Positioning based on profit potential

Positioning based on symbolism

For a segmentation strategy to be successful, the customers in the segment must react similarly and positively to a firm's offering, corresponding to which of the following criteria for evaluating segment attractiveness?

Responsive

For segmentation strategy to be successful, the customers in the segment must react similarly and positively to firm's offering, corresponding to which of the following criteria for evaluating segment attractiveness?

Responsive

For segmentation strategy to be successful, the customers in the segment must react similarly and positively to firm's offering, corresponding to which of the following criteria for evaluating segment attractiveness? Substantial Reachable Responsive Profitable Identifiable

Responsive

Which step in the STP process develops descriptions of the different segments, which helps firms better understand the customer profiles in each segment?

Select segmentation method

Which step in the STP process develops descriptions of the different segments, which helps firms better understand the customer profiles in each segment? Establish overall strategy or objectives Select segmentation method Develop positioning strategy Evaluate segment attractiveness Select target market

Select segmentation method

Which of the following best describes the notion of market positioning?

The place the product occupies in consumer's minds relative to competing products

____ is a psychographic tool owned and operated by Strategic Business Insights (SBI)

VALS

Self- values

are goals for life, not just the goals one wants to accomplish in a day. They are the overriding desires that drive how a person lives his or her life.

occasion segmentation

behavioral segmentation based on when a product or service is purchased or consumed

Benefit segmentation is often effective. Is is relatively easy to portray a product's or service's benefits in the firm's _____ strategies

communication

When an organization selects a single, primary target market and focuses all its energies on providing a product to fit that market's needs it is using a(n) _____ targeting strategy.

concentrated

Small text files used by websites to track potential customer's visits to a website and provide details on how the customer has searched the site are called

cookies

Small text files used by websites to track potential customers' visits to a website and provide details on how the customer has searched the site are called

cookies.

VALS shows ____ between psychology and lifestyle choices

correlations

When a firm evaluates its overall mission, including its strengths, weaknesses, opportunities, and threats, it is engaged in which step of the segmentation, targeting, and positioning process?

establishing overal strategy or objectives

_______ segmentation groups consumers according to objective characteristics such as age, gender, income and education

demographic

Psychographics is a segmentation method that delves into how consumers actually ____ themselves

describe

Large firms with multiple offerings in a particular product category engage in _____ targeting strategies to obtain a bigger share of the market, increase the overall market for the product categories they sell, and diversify their businesses.

differentiated

General Motors targets several different market segments and designs separate automobile makes and models for each. This is an example of

differentiated marketing.

Behavioral segmentaion

divides customers into groups on the basis of how they use the product or service. Some common behavioral measures include occasion and loyalty

Identifiable

firms must be able to identify who is within their market to be able to design products or services to meet their needs. It is equally important to ensure that the segments are distinct from one another, because too much overlap between segments means that distinct marketing strategies aren't necessary to meet segment members' needs

PRIZM and ESRI's Tapestry are two of the most widely used tools for _______ segmentation.

geodemographic

Differences across continents create opportunities for:

geographic segmentation

Demographic segmentation

groups consumers according to easily measured, objective characteristics such as age, gender, income and education

Benefit segmentation

groups consumers on the basis of the benefits they derive from products or services

The _____ indicates where a particular market segment's ideal product lies on the perceptual map.

ideal point

The _____ indicates where a particular market segment's ideal product lies on the perceptual map. ideal point optimal point value proposition equilibrium point target market

ideal point

The publishing conglomerate Conde Nast is able to purchase mailing lists of people who have bridal interests, knowing that its Modern Bride magazine customers are somewhat distinct from those who subscribe to GQ. In terms of evaluating segment attractiveness, this is a way of ensuring the segment is

identifiable

Which of the following factors must be met in order to define a market segment as attractive? It must be

identifiable and reachable

Loyalty segmentation

in the light of the high costs of finding new customers and the profitability of loyal customers, today's companies are using loyalty segmentation and investing in retention and loyalty initiatives to retain their most profitable customers.

Which of the following is NOT a part of the segmentation, targeting and position process? Identifying strategy or objectives Selecting target market Describing segments Increasing benefits

increasing benefits

Self-concept

is the image people ideally have of themselves

Some key factors to keep in mind in this analysis include

market grown, market competitiveness, and market access.

The process of dividing the market into groups of customers who have different needs, wants, or characteristics is called ______. These groups of buyers might appreciate products or services designed especially for them.

market segmentation

A manufacturer of T-shirts concentrates all its efforts on cost containment by offering the product in only one size but in a variety of colors, using a one-size-fits-all approach. This involves a _____ targeting strategy.

mass marketing

A manufacturer of tee shirts concentrates all its efforts on cost containment by offering the product in only one size but in a variety of colors, using a one-size-fits-all approach. This involves a _____ targeting strategy.

mass marketing

Lands' End allows customers buying shirts to choose from a variety of fabrics and types of collar and sleeve based on the customer's specific measurements, capitalizing on new technologies to mass customize its products and services. This is an example of

micromarketing

Behavioral segmentation based on when a product or service is purchased or consumed is called _____ segmentation.

occasion

Behavioral segmentation based on when a product or service is purchased or consumed is called _____ segmentation. occasion lifestyle demographic psychographic location

occasion

Psychographic Segmentation

one that delves into how consumers actually describe themselves

Geographic segmentation

organizes customers into groups on the basis of where they live

Market growth, market competitiveness, and market access are all important factors in analyzing if a segmentation strategy is

profitable.

Jack describes himself as having a strong need to belong to a group, which motivates him to seek out activities that involve others. Marketers would use this type of information when developing _____ segments.

psychographic

For the ______ criteria to be met when evaluating segment attractiveness, the consumer must know the product or service exists, understand what it can do for him or her, and recognize how to buy it.

reachable

Value and lifestyle survey (VALS)

the most widely used tool to support psychographic segmentation efforts, owned and operated by Strategic Business Insights (SBI)

Lifestyles

the third component of people's psychographic makeup, are the way we live

When everyone might be considered a potential user of its product, a firm likely uses a(n) _____ targeting strategy.

undifferentiated

When everyone might be considered a potential user of its product, a firm likely uses a(n) _____ targeting strategy. one-to-one differentiated concentrated undifferentiated micromarketing

undifferentiated

The positioning strategy can help communicate a brand's _____, representing the unique value provided to customers.

value proposition