Exam 9: Identifying Market Segments and Targets

Mature and reflective people who seek durability, functionality, and value in products are most likely to be categorized as ________ in the VALS system.

Explain the concept of differentiated marketing.

What is customer cloning and how is it used?

An undifferentiated marketing approach to full market coverage designs a marketing program for a product with a superior image that can be sold to the broadest number of buyers.

When a symphony orchestra targets people who have broad cultural interests, rather than only those who regularly attend concerts, the orchestra is targeting ________.

Baby boomers are less likely to associate retirement with "the beginning of the end" and see it instead as a new chapter in their lives with new activities, interests, careers, or even relationships.

According to PRIZM, the ________ cluster is characterized as the nation's tech-savvy singles and couples, living in areas typically filled with trendy apartments and condos, fitness clubs and clothing boutiques, casual restaurants, and all types of bars - from juice to coffee to microbrew.

Local marketing reflects a growing trend called grassroots marketing. What are the characteristics of grassroots marketing?

Briefly describe the characteristics of the Millennials.

A marketer is interested in segmenting a business market on ________ if the marketer intends to segment the market based on industries and geographical areas to serve.

Effective target marketing requires that marketers use market segmentation, market targeting, and market positioning to achieve success in the marketplace.

Not everyone is in favor of local marketing. Identify two arguments made against local marketing.

Kim is a young professional who enjoys snowboarding and going to rock concerts with her friends. According to the VALS eight-part typology segmentation system, Kim is best described as a(n) ________.

A marketer is interested in segmenting a business market on ________ if the marketer intends to eventually segment the market based on loyalty and attitudes toward risk.

According to the VALS segmentation system, ________ are successful, goal-oriented people who focus on career and family. They favor premium products that demonstrate success to their peers.

A ________ consists of a group of customers who share a similar set of needs and wants.

Hilton Hotels customizes rooms and lobbies according to location. Northeastern hotels are sleeker and more cosmopolitan. Southwestern hotels are more rustic. This is an example of ________ segmentation.

According to the VALS segmentation framework, consumers primarily motivated by ideals are guided by ________.

Which of the following statements accurately describes what demographers are calling the "boom-boom effect"?

Everyone who buys a given product wants the same benefits from it.