Marketing CH. 9

What are the criteria used by marketers to evaluate whether a segment is worth pursuing or not?

-Identifiable -Substantial -Reachable -Responsive -Profitable

What are some key factors to keep in mind when marketers focus their assessments on the potential profitability of market segments, both currently and future.

-Market Growth -Market Competitiveness -Market Access

Firms position products based on what?

-Value Proposition -Salient Attributes -Symbols -Competition

What analytical tool is used to display, in two dimensions, the locations of products or brands in the consumer's mind?

A Perceptual Map

Another term for self-concept is _.

self-image

Grouping a market on the basis of how they use the product or service is known as _.

Behavioral Segmentation

Grouping a market on the basis of the outcomes they seek and derive from the products or service, such as clothing, appliances, toothpaste, or paper towels is known as _.

Benefit Segmentation

Market positioning is done so that the target customers have an understanding of the product offered by the company in comparison with _.

Competitors' Products

Grouping a market according to objective characteristics, such as age, gender, income, and education is known as _.

Demographic Segmentation

Psychographic is a segmentation method that delves into how consumers actually _ themselves

Describe

It is important to ensure that segments are distinct from one another because too much overlap between segments means that _.

Distinct marketing strategies are unnecessary to meet segment members' needs

Grouping a market by country, region, or areas within a region is known as _.

Geographic Segmentation

Having a variety of brands would allow someone to _.

Increase the market for its products

A very specific form of behavioral segmentation by which segments are formed based on use of the product or service for a special event or activity, rather than everyday activities, is known as _.

Occasion Segmentation

After evaluating each market segment's attractiveness, the next step in the STP process is _.

Step 4: Selecting a target market

Some _, such as the Nike swoosh, are so strong and well known they help position the brand.

Symbols

When everyone is considered a potential user of its product, a firm should use an _.

Undifferentiated (Mass) Targeting Strategy

The _ communicates the customers benefits to be received from a product or service.

Value Proposition