Marketing Chapter 8

Perceptual Mapping

A means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customers' minds

Steps of the STP Process

Market Segmentation Targeting Develop positioning strategy Develop and implement marketing mix

________ consists of evaluating each market segment's attractiveness and selecting one or more segments to enter. A) Mass customization B) Market targeting C) Market segmentation D) Differentiation E) Positioning

B) Market targeting

________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. A) Mass customization B) Positioning C) Segmentation D) Differentiation E) Targeting

B) Positioning

A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each is known as ________. A) mass marketing B) differentiated marketing C) concentrated marketing D) individual marketing E) cross-marketing

B) differentiated marketing

Gilron Holidays runs a premium membership club that caters to customers whose annual salary exceeds $100,000. Members of this club are offered seasonal discounts on select luxury hotels in select cities worldwide. Gilron Holidays most likely follows a(n) ________ segmentation approach. A) gender B) income C) occasion D) benefit E) geographic

B) income

________ requires finding the major advantages people look for in a product class, the kinds of people who look for each positive aspect of a product, and the major brands that deliver it. A) Gender segmentation B) Psychographic segmentation C) Benefit segmentation D) Geographic segmentation E) Age and life-cycle segmentation

C) Benefit segmentation

A recent study conducted by Estelle Cosmetics Company showed that heavy users of Estelle's products comprise a small percentage of the market. The study indicated that less than 7 percent of all shoppers buy nearly 71 percent of Estelle's products in the United States. This is an example of ________. A) benefit segmentation B) segmentation by loyalty status C) segmentation by usage rate D) psychographic segmentation E) occasion segmentation

C) segmentation by usage rate

Why did Howard Moscowitz say there was no perfect pepsi but there are perfect pepsies? A) Different segements want different prices B) Different segements want to buy pepsi in different stores C) Different segements want different types of advertisement that speaks to them D) Different segements want different level of sweetness

D) Different segements want different level of sweetness

________ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. A) Positioning B) Mass customization C) Market targeting D) Market segmentation E) Differentiation

D) Market segmentation

________ shows consumer perceptions of a company's brands versus competing products on important buying dimensions. A) Differentiation B) Positioning C) Market targeting D) Perceptual positioning maps E) Market segmentation

D) Perceptual positioning maps

________ refers to a market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer. A) Individual marketing B) Local marketing C) Niche marketing D) Undifferentiated marketing E) Segmented marketing

D) Undifferentiated marketing

Delta Motorworks markets its cars based on the age, gender, and income of its customers. Which of the following types of market segmentation is evident here? A) geographic segmentation B)benefit segmentation C) occasion segmentation D) demographic segmentation E) psychographic segmentation

D) demographic segmentation

Marketers who use ________ often segment their markets by consumer lifestyles and base their marketing strategies on lifestyle appeals. A) demographic segmentation B) geographic segmentation C) benefit segmentation D) psychographic segmentation E) occasion segmentation

D) psychographic segmentation