ch.07

Which of the following accurately characterizes international market segmentation?

- It is a very expensive process. - Accessing psychographic information is difficult.

Which of the following accurately describe a positioning statement?

-A compelling picture of how a company wants the market to view the product -A succinct description of the core target market

In which of the following ways does market segmentation help marketers navigate the needs and wants of consumers?

-It helps a firm decide how to allocate marketing resources to maximize profit. -It helps a company design specific marketing strategies for the characteristics of that segment. -It helps define the needs and wants of consumers who are most interested in buying the product.

Marketing analytics can provide what kind of data regarding target markets?

-Lifestyle interests -Gender -Age

According to the text, global segmentation usually results in market segments made up of _______.

-Young people -Those with access to the Internet -Those with more money to spend

Which of the following best represents current ethical concerns in targeting certain market segments?

Abercrombie and Fitch's campaign to sell sexualized clothing to the tween market

Which of the following describes how B2B segmentation bases compare to segmentation bases targeted to consumers?

B2B segmentation uses some of the same bases, but they apply differently.

Which of the following segmentation bases do B2B firms generally use?

Behavioral Demographic Geographic

True or false: A firm should only be concerned with positioning a product when introducing a new product.

False

Which of the following is a target marketing analytics tool?

Google Analytics

The text details how Five Guys identified that their target market values taste, freshness, and quality and are willing to pay a premium price for a "gourmet" hamburger experience. How did market segmentation help Five Guys in this example?

It helped Five Guys define the needs and wants of their customer.

A marketer focusing on geographic market segmentation would consider which of the following aspects of the market?

Region

The snack food industry has introduced a wide variety of products in recent years in response to health-conscious consumers looking for a healthier snack option. Consumers can now find baked potato chips and low-fat crackers on the grocery store shelves. The snack food industry's response to changes in the marketplace represents the idea of _______.

Repositioning

Which of the following explains why social media can be a very attractive market segmentation tool to a company?

Social media requires minimal financial responsibility.

____________ refers to the marketing process of evaluating each market segment and determining which one presents the most attractive opportunity to maximize sales.

Targeting

Which strategy for targeting markets approaches the marketplace as one large segment?

Undifferentiated targeting

Which three of the following are basic strategies for targeting markets?

Undifferentiated targeting Niche marketing Differentiated targeting

In which of the following situations would competitive analysis be the most important?

When competitors all offer a similar good or service

Kelly has discovered that most of the customers at her ice cream shop are young mothers with pre-school age children. These demographic characteristics are an example of a segmentation _______.

base

Because it is expensive and time-consuming, the text advises that _______ segmentation is considered the most difficult of all the segmentation strategies to use.

behavioral

Stacey knows that her company's line of high-end paper products are used for weddings, anniversaries, and other milestone celebrations. Stacey is using _________ segmentation to understand how her company's products are used.

behavioral

Which of the following are included among the four broad bases of market segmentation?

behavioral geographic demographic psychographic

While positioning can happen in a variety of ways, it always assumes that _______.

consumers compare goods and services on the basis of benefits

When a marketer relies on characteristics such as age, gender, and income, to understand a target market, they are using _______ segmentation.

demographic

Psychographic segmentation combines personality traits, the science of psychology and _______________ .

demographics

When a company needs to make modifications to a product in order to satisfy the cultural demands of international customers, it is in the process of _______ targeting.

differentiated

While shopping for groceries on a family vacation, Stephanie noticed that the store carried several different flavors of her family's favorite snack chip that she had never seen in the store at home. This is evidence of _______________ targeting.

differentiated

When relying on psychographic segmentation the first thing a marketer would do is _____.

divide the market into groups based on the reason for the purchase

True or false: A perceptual map is a tool to help marketers define the process of niche marketing.

false

After Tonya moved to Chicago, she realized that the Target store near her did not stock swimming suits year-round like the Target she had lived near in Tampa. This demonstrates the idea of segmentation.

geographic

When a firm can identify a group of consumers with common needs and wants that span the entire globe, it demonstrates the idea of ____________ segmentation.

global

Compared to the U.S., data collection and classification in many other countries can be described as _______.

inconsistent

During the targeting process, a firm should take into account three important factors: growth potential, strategic fit and _______.

level of competition

Serena's company sells shoes and boots to many international markets. In certain countries, the company is faced with charging higher prices for its products because the country places a higher tariff on imports. Based on this, Serena's company would want to _______ the marketing mix within this segment.

localize

Al has run a pizza shop for ten years and decided six months ago to change his marketing tactic. Instead of marketing the same to all customers, Al has targeted those customers who like deep-dish pizza and those who like thin pizza. This is an example of _______.

market segmentation

AirTran promotes the idea that consumers can view their schedules and ticketing services on the airline's Facebook page. In doing so, AirTran is utilizing _________ _________.

social media

A marketing mix strategy that works well in one market may be successful for other markets in the same segment, allowing the firm to ____________ the marketing mix across segments.

standardize

After completing an effective market segmentation, a company must evaluate each market segment to determine which one has the most potential to maximize sales. This process is known as .

targeting

To discover less obvious information about a customer, such as income, a marketer could turn to _______ which provides free information on how households are segmented.

the U.S. Census Bureau

As a targeting strategy, ________________ targeting works best with uniform products, like apples or bread because a company can develop a single marketing mix that satisfies all customers.

undifferentiated

___________ __________ refers to the process of dividing a larger market into smaller groups based on meaningfully shared characteristics.

market segmentation

Of the three basic strategies for targeting markets, _______________ marketing focuses on products that meet a very specialized need.

niche

__________________ marketing involves targeting a large share of a small market segment.

niche

The three basic strategies for targeting markets include undifferentiated targeting, differentiated targeting, and _______________ _________________.

niche marketing

Market _____________ refers to the activities a company undertakes to create a certain perception of its product in the eyes of the target market.

positioning

Market segmentation _________________ refers to the activities a company undertakes to create a certain perception of its product in the eyes of the target market.

positioning

As the marketing director for the new product line of air conditioning systems, Chester is responsible for creating a statement which identifies the core target market to which the company wants to direct its efforts. He also needs to create a compelling picture of how his company wants the target market to view the air conditioning systems. Chester is responsible for developing a(n) _______.

positioning statement

When a company realizes it needs to reestablish its product line because the marketplace has changed, it must start the process of .

repositioning

The text notes two market segments in which marketers should be aware of growing ethical concerns. Which of the following are included?

Children The elderly

Which of the following features would be the focus of global segmentation?

Common needs and wants

Collin's company determined that since it didn't have the government permits required to sell in Indonesia, potential distribution there would not be a possibility. These Indonesian distributors fail to meet the ___________ criteria associated with effective market segmentation.

accessibility or accessible

When deciding how to position a product, the first step a marketer would take is to _______.

analyze the competitors' positions