Exam 8: Market Segmentation, Targeting, and Positioning

Todd Harris and Associates,a New York sales promotion agency,discovered from an analysis of its files that one-quarter (or 25 percent)of its clients generated more than three-quarters (or 75 percent)of its fees and commissions.This is an example of what classic concept?

Which of the following is an example of a multiple products and multiple market segments strategy?

Explain the difference between mass customization and build-to-order.

According to Tony Hsieh,CEO of Zappos,the company devotes the greatest amount of time to

Time magazine publishes over 100 different U.S.editions with common editorial content (the same national and international stories).However,each edition is targeted at unique geographic segments with its own set of advertisements.Time is using which of the following segmentation strategies?

Market segmentation refers to

Product features and usage rate are both variables used to employ __________ segmentation.

The aggregation of prospective buyers into groups that (1)have common needs and (2)will respond similarly to a marketing action is referred to as __________.

There are five steps involved in segmenting and targeting markets.What should a marketer do after he or she has grouped products to be sold into categories?

Explain the difference between marketing synergies and product synergies.

The relatively homogenous group of prospective buyers that results from the market segmentation process is referred to as a(n)__________.

Segmentation based on some observable actions or attitudes by prospective customers,such as what benefits they seek,as well as where,how frequently,and why they buy,is referred to as

Explain the "80/20 rule."

The first step in segmenting and targeting markets that links customer needs to marketing actions is to

Market segmentation stresses __________ and relating them to specific marketing actions.

Which of the following is a criterion used for selecting a target market?

A basic test of the usefulness of the market segmentation process is whether it leads to tangible marketing actions that can

Why would an organization produce multiple products or services and then attempt to sell them to two or more market segments?

Four general categories used to segment consumer markets are geographic segmentation,demographic segmentation,__________,and behavioral segmentation.

What are the criteria used to select target markets?