MKTG CH 9

segmentation, targeting, and positioning

A successful marketing plan requires identifying and evaluating opportunities by performing an STP analysis, which stands for ______.

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.

loyalty

in light of the high costs associated with finding new customers who feel that a brand can meet their relevant needs and are willing to exclude competitors, today's companies are using "______ segmentation" and investing in initiatives to retain their most profitable customers.

single

A firm using a concentrated segmentation strategy selects a(n) ______ target market and focuses all its energies on providing a product to fit that market's needs. Multiple choice question.

consumer's

A perceptual map is used in developing a positioning strategy in order to display the position of the products or brands in the ______ mind.

communication

Benefit segmentation is often effective because it is relatively easy to portray a product's or service's benefits in the firm's _______ strategies.

concentrated

By selecting only senior women golfers as the target and focusing all efforts on products to fit their needs, a firm is using a(n) ______ targeting marketing strategy.

Symbols Salient attributes Value

Firms position products based on which of the following?

differentiated

Firms using a(n)________ targeting strategy direct their efforts to several market segments with distinct brands and product offerings for each segment.

geographic segmentation

Grouping a market by country, region (northeast, southeast), or areas within a region is known as

1. Establish Strategy or Objective 2. Describe Segments 3. Evaluate Segment Attractiveness 4. Select Target Market 5. Identify and Develop positioning strategy

List the following in order of the segmentation, targeting, and positioning process

geographic segmentation

Market differences across continents create opportunities for ______.

demographic

Marketers sometimes take into account that as people age their needs change. This is an example of ______ segmentation.

third

STP analysis occurs during which step of the marketing planning process?

lifestyle

The component of segmentation that is determined by how we live our lives to achieve goals is called ______. Multiple choice question.

demographic

The easiest market segments to reach are those that have been segmented using which approach?

market segmentation

The process of dividing the market into groups of customers who have different needs, wants, or characteristics is called ______. These groups of buyers might want products or services designed especially for them.

attractiveness

The third step of the market segmentation process is to evaluate segment_____ , which is based on such criteria as its profitability, responsiveness, and reachability.

true

True or false: A firm assesses attractiveness of a target market and its own competencies using a SWOT analysis.

false

True or false: Once a firm selects a segmentation strategy, it should never be changed.

targeting strategies

Undifferentiated Concentrated Micromarketing Differentiated

motivations

VALS enables firms to identify target segments and their underlying ______.

correlations

VALS shows ______ between psychology and lifestyle choices.

price and quality

Value is a popular positioning method and is the most important consideration for consumers when they make a purchase decision based on ______.

Identifiable, substantial, reachable, responsive, profitable

What are the criteria used by marketers to evaluate whether a segment is worth pursuing or not?

benefit

What type of segmentation categorizes consumers on the basis of the outcomes they hope to derive from a product or service, such as clothing, appliances, toothpaste, or paper towels?

Undifferentiated

When everyone is considered a potential user of its product, a firm should use a(n) ______ targeting strategy.

Psychographic Benefits Geographic Demographic consumption

Which of the following are marketing segmentation approaches?

psychographic

While some segmentation methods rely on external descriptions and factors to break down the market, ______ segmentation relies on consumers' descriptions of themselves.

occasion

____ segmentation is a very specific form of behavioral segmentation by which segments are formed based on when a product or service is purchased or consumer.

demographic

_____ segmentation variables include age, income, and gender.

VALS

______ 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.

similarities; differences

Individuals in different segments should have obvious ______ within the segment and greater ______ across the segments.

true

True or false: Value is a popular positioning method because the relationship between price and quality is important to consumers.

demographic

When Kellogg's introduced Special K, the marketing communications about the product were meant to primarily appeal to women. This is an example of ______ segmentation.

micromarketing

When a firm adapts a product or service to meet an individual customer's wants or needs, it is undertaking an extreme targeting strategy called ______.