MKT Ch. 11 - Targeting

Targeting is part of the _______ process

STP (segmenting, targeting, positioning)

The more intense the competition within a segment, the _______ attractive the segment is to markets

less

Ashton lives in a suburb of the city. it seems new business are opening up every month in the downtown area- most are quaint eateries that sell everything from sandwiches to small plates to desserts. ashton has just graduated culinary school and plans to open an eatery downtown as well, given the eatery's growing popularity there. However, Ashton's marketing consultant advises against this idea because of the downtown area's:

level of competition

the higher the future growth rate, the ________ attractive the segment is

more

One of the criteria for targeting consumer groups is to ensure that the potential target market aligns with the organization's overall values and mission. This criterion is known as:

strategic fit

Which of the following is true of an undifferentiated targeting strategy?

It approaches the marketplace as one large segment

When should a firm use a niche marketing strategy to target a market?

When it possesses a unique offering or specialization that is desirable to its target customers

Identify the accurate statement regarding market segments and their attractiveness to markers

a market segment with high potential growth is less attractive

A targeting strategy used when an organization simultaneously pursues several different market segments, usually with a different strategy for each one

differentiated targeting

Marketers should work to ensure that the selected target markets ________ with what the organization is and wants to be as defined in its mission statement

fit

Verve, a successful soap manufacturer, sells luxury soaps exclusively for women under the brands Verve Opulent, Verve Imperial, and Verve Divine. It has now added Verve Regal to target a specialized segment of urban men who are particular about their grooming practices. The introduction of Verve Regal represents

niche marketing

a targeting strategy that concentrates on a large share of a small market segment

niche marketing

Differentiated targeting occurs when an organization:

simultaneously pursues several different market segments

the group of customers toward which an organization has decided to direct its marketing efforts

target market

Occurs when marketers evaluate each market segment and determine which segment or segments present the most attractive opportunity to maximize sales

targeting

What best defines a target market?

the group of customers toward which an organization has decided to direct its marketing efforts

If you were asked to market a product like sugar or salt, it would be best to engage in a(n) ______________ targeting strategy

undifferentiated

a targeting strategy that approaches the marketplace as one large segment. Bc the firm doesn't segment the market further, it can approach all consumers with the same product offering and marketing mix.

undifferentiated targeting