Exam 9: Identifying Market Segments and Targets

According to PRIZM, the ________ cluster is characterized as being in their late forties and fifties, college-educated, upper-middle-class homeowners that married late, and are still raising children in comfortable suburban subdivisions and pursuing kid-centered lifestyles.

Local marketing reflects a growing trend called macromarketing.

All attempts to target marketing to children, minorities, or other special segments are discriminatory and unethical.

The fact that Honda described its boxy Element as a "dorm room on wheels," but then attracted so many baby boomers that the average age of the Element turned out to be 42 is an illustration of the fact that baby boomers may be ________.

A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can show the firm which brands are most competitive with its own.

A market segment consists of a group of consumers who share a similar set of needs and wants.

A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can help identify the products' strengths.

The ________ segment of the US premium wine market skews male, has an average age of 35, and uses wine as a badge to say who they are, so they are willing to pay more to make sure they're getting the right bottle.

All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs, a strong market presence, operating economies through specializing in production, distribution, and promotion.

If a marketing manager observes that his or her market shows no natural segments and consumers seem to have roughly the same preferences, the marketing manager will most likely be faced with a ________ preferences pattern.

Pampers divides its market demographically on the basis of ________ into prenatal, new baby, baby, toddler, and preschooler.

Josh separated people who wanted a high quality lawn mower from people who wanted a low priced lawn mower, then saw if different characteristics were associated with each consumer-response segment. Josh was defining segments using ________ considerations.

Explain the concept of mass marketing.

Generation Y members are often turned off by overt branding practices and "hard sell." List and provide examples for the different approaches tried by the marketers to reach and persuade them.

Members of Generation Y are generally open to overt branding practices and a "hard sell," making product placements in computer and video games a popular way to reach this cohort.

Unlike the more optimistic, team-oriented Gen Xers, Gen Yers are more pragmatic and individualistic.

Purchasing approaches segmentation variables in the business marketplace include technology, user and nonuser status, and general purchasing policies.

Marketers usually identify niches by ________.

Although we can make distinctions between them, different generational cohorts also influence each other. Give an example of this.

The New Luxury goods category, which includes Kiehl's skin care and Kendall Jackson wine, and is based on emotions and priced between average middle-market brands and superpremium Old Luxury brands, is called accessible superpremium brands.