Exam 9: Identifying Market Segments and Targets

Establishing and communicating the distinctive benefit(s) of the company's market offering for each target segment is called ________.

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

When consumers use Tide TOTALCARE laundry detergent, which is used by consumers who want to obtain dry-cleaning type results at home, it is an example of ________, or switching spending from one category to another while preserving a desired experience.

With respect to loyalty status, if a consumer is loyal to two or three brands, he or she is called shifting loyal.

According to the ________ criterion for useful market segments, a segment should be the largest possible homogenous group worth going after with a tailored marketing program.

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.

A company can be said to have used ________ if the company distinguished among customers buying on the basis of price, service, and quality.

The ultimate level of segmentation leads to "segments of one," "customized marketing," or "one-to-one marketing."

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.

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

If a marketer decides to segment a market based on neighborhoods, the marketer will have chosen the ________ method of segmentation.

Briefly describe the steps in the segmentation process.

What are some examples of situational factors that can be used to segment business markets?

Professor Albert advises his students to purchase the book Microbiology by Pelczar, to acquaint themselves with the fundamentals of microbiology. What role does he play in the buying decision of his students?

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.

Explain the concept of differentiated marketing.

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

The horizontal dimension in the VALS framework is ________.

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.