Chapter 7: Marketing Segmentation

According to your textbook, what tool provides an excellent framework to determine if a firm will be successful targeting a specific segment?

a SWOT analysis

Which of the following is an example of a behavioral segmentation variable?

a large family that collectively showers 15 times a day

A car insurance company segmented its market by both gender and age, and designed different marketing campaigns to appeal to both. In the end, both segments responded the same to the different marketing strategies, in part, because both segments are required to have auto insurance. This firm failed to understand the criteria of market segments needing to be

differentiable

Builders that advertise the ability to turn home attics or the space above a garage into living areas are most likely targeting their market based on the demographic variable of

family size

Which of the following is not true of market segmentation?

identifies which products will be profitable and which ones are not worth pursuing.

The criteria for segmenting markets indicates that it is important that the size and purchasing power of a market segment should be clearly identified. In other words, it should be

measurable

A description of the core target market to which a product is directed and a compelling picture of how the firm wants that core market to view the product is called a

positioning statement

The VALS framework classifies consumers into eight psychographic groups: Innovators, Thinkers, Believers, Achievers, Strivers, Experiencers, Makers, and

survivors

Marketers often target older Americans because

they tend to have more time and money than younger consumers ????

Effectively formed market segments should rate favorably on various criteria. Which of the following is not one of the criteria outlined in your text?

variable