MKTG Ch. 9
______ segmentation groups consumers on the basis of the outcomes they seek and derive from the products or service, such as clothing, appliances, toothpaste, or paper towels?
- benefit
_____ segmentation forms market segments based on the way consumers use a product, such as more frequently or with greater loyalty
- behavioral
Which of the following are marketing segmentation approaches?
- Geographic, - Psycho-graphic, - Benefits
What analytical method does a firm typically employ to assess the target market and its own competencies?
- SWOT Analysis
After establishing overall objectives, why do marketers then use a particular method or combination thereof to identify and describe market segments?
- To help understand the profile of each segment
________ is a psychographic tool owned and operated by Strategic Business Insights(SBI) that classifies consumers into eight segments based on their answers to the questionnaire?
- VALS
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
Which of the following would most likely be marketed using an undifferentiated targeting strategy?
- basic commodities
"Pork. The Other White Meat." is an advertising campaign that promoted pork as a white meat alternative to chicken or turkey. This is a positioning strategy that focuses on ___.
- competition
By selecting only senior women golfers as the target and focusing all efforts on products to fit their needs, a firm is using a _______ targeting marketing strategy
- concentrated
Which of the following are the Circles for a Successful Value Proposition?
- customer needs and wants, - the company's offerings, - benefits offered by competitors
Age, gender, and income are all examples of ______ segmentation variables?
- demographic
Marketers sometimes take into account that as people age their needs change. This is an example of _________ segmentation.
- demographic
Firms using a(n) "__________ targeting strategy" target several market segments with a diverse offering for each?
- differentiated
Demographic segmentation is the most common segmentation strategy because these segments are?
- easy to identify
Foster Designs sells different types of clothing for men and women. To ensure the retail store locations contain the appropriate assortment of clothing for the area, the firm should use _____________ segmentation.
- geodemographic
Segmentation that uses a combination of geographic, demographic, and lifestyle characteristics to classify consumers who may patronize stores close to their neighborhood is called _____________ segmentation.
- geodemographic
Grouping a market by country, region, or areas within a region is known as _____ segmentation
- geographic
McDonald's promotes coffee in cold, rainy Seattle and seasonal seafood meals including lobster and crab in select markets like New England. This is an example of ______ segmentation?
- geographic
Psychographics studies?
- how consumers describe themselves
A point where a market segment's desired product would be located on a perceptual map is called a(n) _____ point?
- ideal
In creating a perceptual map, a company should represent which of the following to help determine the importance to give specific markets?
- ideal market points - market size
The component of segmentation that is determined by how we live our lives to achieve goals is called?
- lifestyle
What are the factors considered in the analysis of profitability of a market segment?
- market growth - market access - market competitiveness
Which of the following are key factors to keep in mind when marketers focus their assessments on the potential profitability of market segments, both currently and future.
- market growth (current size and expected growth rate), - market competitiveness (number of competitors, entry barriers, product substitutes), and - market access (ease of developing or accessing distribution channels and brand familiarity).
____ is the process of creating clear, distinctive, and desirable understanding of the product in consumer's mind relative to competing products
- market positioning
When a firm adapts a product or service to meet an individual customer's wants or needs
- micromarketing
which of the following are targeting strategies?
- micromarketing - undifferentiated - concentrated
Compared to most available targeting strategies, differentiated targeting is?
- more expensive
Because each segmentation method has its unique advantages and disadvantages, most firms often employ ____________ methods.
- multiple
______ segmentation is 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?
- occasion
The salient attribute positioning method focuses on the important _____ attributes for a target market?
- product
Which of the main value components are contained in the value proposition "SportsAde offers serious athletes a great-tasting way to stay hydrated during exercise"?
- product/service category or concept, - unique difference/benefits, - and target market
Loyal customers buy a substantial amount from the firm. These loyal customers are the most ________ in the long term to the firm.
- profitable
Which of the following are descriptive criteria considered by marketers to evaluate whether a segment is attractive and worth pursuing?
- profitable - reachable - identifiable - substantial
Daniel joined an outdoor activities club. He has begun to purchase many books about kayaking and rafting. Borders bookstore sends him email promotions focusing on outdoor activities. This is an example of ______________ segmentation based on lifestyles.
- psychographic
While some segmentation methods rely on external descriptions and factors to break down the market, ____ segmentation relies on consumers' descriptions of themselves.
- psychographic
One positioning strategy focuses on the product attributes that are the most ________________ to the target market.
- salient
For a ____ strategy to be successful, the customers in the group must react similarly and positively to the firm's offering.
- segmentation
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
What are the three components of the STP process?
- segmentation - Targeting - Positioning
_____________ is the image people ideally have of themselves.
- self-concept
Which of the following are examples of self-values?
- self-fulfillment - self-respect - sense of belonging
Once the firm understands how its competitors' brands are viewed by the consumer, it should next _____________.
- study how the competitors have positioned themselves
Once a firm is able to identify the market and is able to design products or services to meet its needs, the next step is to determine if the market size is _____
- substantial
Some ___ such as the Nike swoosh are so strong and well known that they help position the brand.
- symbols
Firms position products based on what?
- symbols - value - salient attributes
Which of the following is an example of occasion segmentation for chocolate maker?
- the company offers some if its chocolates in heart-shaped boxes for Valentine's Day
When firms sell commodities, or products, that are considered the same as those of its competitors, it should use a(n) ______ targeting strategy?
- undifferentiated
Even if a firm has developed a product that addresses the needs of a specific, substantial, market segment, its efforts will fail if the segment is ____.
- unreachable
Market positioning involves a process of defining the marketing mix variables so that the target customers?
-have a clear, distinctive understanding of the product
List the following in order of segmentation, targeting, and positioning process.
1. Establish strategy or objectives 2. Describe Segments. 3. Evaluate segment attractiveness. 4. Select Target Market. 5. Identify and develop positioning strategy.
What are the steps in market planning in order?
1. segmentation 2. targeting 3. positioning
Breakfast cereal manufacturers have separated the market into many segments. How does selecting a target market segment allow Kellogg's to maximize its chances of success in the cereal industry?
It allows the company to apply its specific competencies toward the most attractive market segment
A perceptual map is used in developing a positioning strategy in order to display the position of the products or brands in the _____ mind
consumers
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
Why should managers pay attention to the customer defection rate?
it affects the company's profits and it reveals how many customers switch to some other company each year
Value is a popular positioning method because the relationship between:
price and quality is important to consumers.
Match each of the following.
undifferentiated: sugar, milk, packaged ice differentiated: P&G offer Pantene, Head and Shoulders, Aussie and Wella shampoos concentrated: an infomercial firm sells a gadget to better fry and flip eggs in cooking micromarketing: a florist designs the bride's and five attendants' bouquets
The ____ communicates the customer benefits provided by a product or service
value proposition
