CH 4: Focusing Marketing Strategy with Segmentation and Positioning
What are the three emotional needs that a customer in an advanced economy might want to satisfy?
- Appearance - Status - Excitement
Cultural differences that may complicate the segmenting process include which of the following?
- Customs - Race - Price - Religion
Which of the following might be revealed by clustering techniques?
- Demographic characteristics - Attitudes toward the product - Past buying behavior
Which of the following are general categories of segmenting dimensions in consumer markets?
- Geographical - Behavioral - Demographic
Which of the following are true of a successful product-market?
- It helps focus and sharpen a firm's marketing strategy - It is defined as the scope of the market in which a firm will compete
Which of the following are ethical issues that may arise when selecting segmenting dimensions?
- Marketing infant formula to less-developed countries - Marketing unhealthy foods to kids - Targeting the disadvantaged with expensive foods
Which of the following help marketers focus on a specific target market and provide superior value?
- Segmentation - CRM - Cluster analysis
The market segmentation process consists of which of the following?
- Segmenting broad product markets into select target markets - Naming broad product markets
Which of the following are qualities of "good" market segments
- The dimensions used to define the marketing segment help identify potential customers and effective marketing mix variables - Customers in different market segments have significant differences In characteristics and responses to marketing mix variables - The market segment is broad enough to be profitable for the firm - Customers within a market segment have similar characteristics and responses to marketing mix variables
A group of people can be considered a market if?
- They are willing to exchange something of value to satisfy their needs - They have similar needs
Which of the following do production-oriented managers do?
- They focus on the products they sell - They miss opportunities by ignoring the market
How many steps are there in the market segmentation process
2
An ideal product market description should include _____ customer dimensions plus one product type description
3
The relevant market that a firm has for finding opportunities should be _____ the firm's present product market
Bigger than
To achieve effective market segmentation, markets should first disaggregate the needs of customers. This means the company should _____
Break apart all possible needs into some generic markets
Terms such as generic market and product-market are examples of ____ market definitions that can be useful to firms searching for opportunities.
Broad
Greg told the management team that the ideal consumer for the product is a 27-36 year old working mother living in the Midwest. This fictional description of a customer is called a(n) _____.
Buyer persona
Margo's company plans to reposition the high-end trail bike it introduced last year. This will involve:
Changing customer perceptions
A customer typically bases a buyer persona on ________
Costumer research
In international marketing, _______ differences such as language and customs can complete segmentation efforts
Cultural
A marketing manager attempting to segment a market using two demographic characteristics is likely to fail because ____
Customer behavior cannot be explained using such narrow segmentation
The CRM process relies on a ____ for information
Customer database
Market definitions for both a product market and a generic market have which of the following in common?
Customer needs, customer type, and geographic area
When a company decides to reposition a product, it is doing so in response to
Customers who do not view the product in the desired way
Marketing unhealthy snack foods to kids is considered a(n) ______ issue that may arise during the segmenting process.
Ethical
True/False: Generic markets focus primarily on product type
False
A ___ market consists of customers with broadly similar needs and many different options for satisfying them
Generic
What type of market is one in which potential customers have similar, but not identical, needs and are offered various and diverse ways to satisfy those needs?
Generic
A complete product-market definitions includes product type, customer needs, customer type, and ____
Geographic area
If a firm decides that it will offer its products in the North American market, it has defined the ___ of its marketing strategy
Geographic area
Jenna's company exports tea to various markets around the world. In the past six months, the company has focused on developing new flavors and was surprised to learn that a competitor gained market share by expanding into four new foreign countries. Which part of a product-market did Jenna's company fail to take into account?
Geographic area
What is the primary disadvantage of the production-oriented marketing approach?
It leads to missed opportunities by ignoring customers
A ___ consists of potential customers with similar needs who are willing to exchange something of value with sellers in order to receive a good or service.
Market
Explicitly stating that a firm will market to business customers rather than unaffiliated consumers is an important aspect of a manager's ____ since this clearly establishes the markers in which the firm will compete
Market definition
When segmenting an international market, a company should focus on ______ dimensions than a domestic market
More
A ______ statement provides an exact picture of the firm's product offerings, target market, and differentiation strategy
Positioning
How customers thank about brands in a market, also known as ____ affects how marketing managers adjust their marketing mix
Positioning
The way in which customers think about brands in a market is called ______.
Positioning
Positioning analysis is a ____ oriented approach
Product
Market segmentation requires that the marketing manager decide which ____ might be useful for marketing mix planning
Product-market dimensions
Which of the following is NOT considered a possible segmenting dimension for consumer markets? - Geographic location - Social class - Behaviors and consumption patterns - Production facilities
Production facilities
Segmenting dimensions that help marketing managers decide whether to include a customer type in a product-market are called ____ dimensions
Qualifying
What type of segmenting dimensions involves whether a customer can be considered part of a product-market?
Qualifying
The process of using a customer database to refine marketing efforts is known as customer _____ management
Relationship
A market ____ is a group of customers with similar needs who have a similar response to a marketing mix
Segment
Which of the following steps is commonly added to the segmentation process by international firms?
Segment by country or region
After a computer clusters groups of people together, marketers look for _______
Segmenting dimensions that apply to everyone in the cluster
Adding an additional step to the marketing segmentation process for international markets aids in identifying regional or national ______ that are fairly similar.
Submarkets
Treena told the management team that she didn't think the market segment was big enough and the company would lose profits if they decided to target the segment. Which criteria for a "good" market segment is Treena using to make her decision?
Substantial
According to the product-market definition, a customer type refers to _____
The expected end user of a product, regardless of who purchases the product
Which of the following is the intended goal of focusing on a specific target market?
To offer superior value to the target market
True/False: The first step in effective market segmentation should be to name a broad product-market of interest to the firm
True
The questions that a marketer should ask in order to identify customer similarities and differences include ____
Who, why, what
A weakness of positioning analysis is that it can
overlook customer-related dimensions like needs and attitudes
