Week 4
Which of the following steps are part of the segmentation, targeting, and positioning process? (Choose every correct answer.) Increasing benefits Develop the marketing plan Establish strategy or objectives Selecting target market Evaluating segment attractiveness
Establish strategy or objectives Selecting target market Evaluating segment attractiveness
Another term for self-concept is ______.
self-image
Individuals in different segments should have ______ within the segment and ______ across the segments.
similarities; differences
Place the steps in the segmentation, targeting, and positioning process in order, with the first step at the top.
1. Establish strategy or objectives 2. Use segmentation methods 3. Evaluate segmentation attractiveness 4. Select target market 5. Identify and develop positioning strategy
Which of the following are marketing segmentation approaches? (Choose every correct answer.) Benefits User Psychographic Geographic Collaborative
Psychographic Geographics Benefits
Firms position products based on which of the following? (Choose every correct answer.) Salient attributes Psychographics Symbols Value Demographics
Salient attributes Symbols Value
Which of the following are examples of self-values? (Choose every correct answer.) Self-fulfillment Sense of belonging Self-respect Self-indulgence
Self-fulfillment Sense of belonging Self-respect
______ 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.
Self-values
Suppose that Coca-Cola were to divide its market up into segments based on the amount of soda consumers drink (heavy, medium, and occasional soda drinkers). What type of segmentation does this represent?
Behavioral
______ segmentation forms market segments based on the way consumers use a product, such as more frequently or with greater loyalty.
Behavioral
How does developing descriptions of each market segment help firms? (Choose every correct answer.) By determining the most attractive market segments By identifying similarities within market segments By revealing similarities across market segments By identifying differences across market segments
By identifying similarities within market segments By identifying differences across market segments
When marketers seek to evaluate market attractiveness, what must they do first?
Determine whether the segment is worth pursuing
Grouping a market by country, region (northeast, southeast), or areas within a region is known as ____ segmentation.
Geographic
When establishing its overall segmentation strategy or objectives, what must the firm keep in mind? (Choose every correct answer.) Its past performance Its current situation Its mission and objectives Its target market
Its current situation Its mission and objectives
What is used to display, in two or more dimensions, the positions of products or brands in the consumer's mind?
Perceptual map
Which of the following is NOT a market segmentation approach? Consumption Benefits Geographic Demographic Product
Product
STP analysis occurs during which step of the marketing planning process?
Third
After establishing overall objectives, why do marketers then use a particular method or combination thereof to identify and describe market segments? To articulate the vision of the marketing strategy clearly To help understand the profile of each segment To eliminate less desirable consumers from the customer base To validate preconceived notions of each market segment
To help understand the profile of each segment
The third step of the market segmentation process is to evaluate segment ____, which is based on such criteria as its profitability, responsiveness, and reachability.
attractiveness
What type of segmentation categorizes consumers on the basis of the outcomes they hope to derive from a product or service?
benefit
Benefit segmentation is often effective because it is relatively easy to portray a product's or service's benefits in the firm's ______ strategies.
communication
Market positioning is done so that the target customers have an understanding of the product offered by the company in comparison with ______ products.
competing
A perceptual map is used in developing a positioning strategy in order to display the position of the products or brands in the ___ mind.
consumer's
____ segmentation variables include age, income, and gender.
demographic
Psychographics is a segmentation method that delves into how consumers actually ______ themselves.
describe
The component of segmentation that is determined by how we live our lives to achieve goals is called ______.
lifestyle
The process of dividing the market into groups of customers who have different needs, wants, or characteristics is called ______.
market segmentation
While some segmentation methods rely on external descriptions and factors to break down the market, ______ segmentation relies on consumers' descriptions of themselves.
psychographic
The ______ strategy must be consistent with and derived from the firm's mission and objectives, as well as its current situation—its strengths, weaknesses, opportunities, and threats (SWOT).
segmentation
A successful marketing plan requires identifying and evaluating opportunities by performing an STP analysis, which stands for ______.
segmentation, targeting, and positioning
After evaluating each market segment's attractiveness, the next step in the STP process is ______.
selecting a target market
______ is the image people ideally have of themselves.
self concept
Firms position their products based on methods such as ______. the value proposition, salient attributes, symbols, and competition undifferentiated positioning, concentrated positioning, differentiated positioning, and micropositioning product, price, place, and promotion demographics, geodemographics, psychographics, and benefits
the value proposition, salient attributes, symbols, and competition
True or False: Lifestyles are a component of psychographic segmentation that describes how an individual lives his or her life to achieve goals.
true
