Exam 7: Segmentation, Targeting, and Positioning

Typically, developing a strong position within several market segments creates more total sales than ________ marketing across all segments. undifferentiated differentiated niche target individual

In Canada, cranberry sauce sales spike right before Thanksgiving, Christmas, and other holidays.A segmentation that seems to describe this phenomenon is _______. social class personality occasion readiness stage education

In which step of target marketing is the marketing mix created in detail?

XYZ Computers, Inc., a business with limited resources, is a market nicher.How might XYZ benefit from this?

It is most accurate to say that successful niche marketing relies on a firm's ________ and its ________. marketing strategy; services individual relationships with customers; positioning superior products; value network partners greater knowledge of customers' needs; special reputation competitive advantage in comparison to mass-market companies; affordable pricing

Explain the concept of positioning for competitive advantage.

What characteristics would interest a marketer who focuses on psychographic segmentation?

Your assignment at work is to divide buyers into different groups based on social class, lifestyle, and personality characteristics.After a planning session with the marketing and sales staff, you issue a memo to upper management recommending psychographic segmentation.You are right on target.

Which type of segmentation centers on the use of the word when, such as when consumers get the idea to buy, when they actually make their purchase, or when they use the purchased item? demographic psychographic occasion impulse emergency

Your current assignment at York Foods is to find the major benefits people look for in product classes, the kinds of people who look for each benefit, and the major brands that deliver each benefit.What is this segmentation method called? benefits sought user status age and life cycle psychographic demographic

Shampoo marketers rate buyers as light, medium, or heavy product users.This is ________ segmentation. user status usage rate benefits sought occasions psychographic

Superior Auto Sales, a chain of high-end used car dealerships, wants to sum up its company positioning and brand positioning in a formal way.Superior's management would use a ________. mission statement vision statement competitive statement positioning statement company statement

When firms use symbols, colors, or characters to convey their personalities, they are using ________ differentiation. image people company reputation subliminal

A marketer focuses on several commonalities among all consumers.This marketer appears to be engaging in ________. differentiated marketing undifferentiated marketing segmented marketing mass customization concentrated marketing

Few people can afford the best in everything they buy.At times everyone needs a product with less quality or performance with a correspondingly lower price.In this case, a consumer would purchase a product positioned with a ________ strategy. more-for-the-same more-for-less same-for-less less-for-much-less all-or-nothing

Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger companies.

Imagine that you are presenting a workshop on Requirements for Effective Segmentation.Briefly describe the five traits of market segments that will help your audience understand your topic.

Clusters of marketable groups of customers with similar likes, dislikes, lifestyles, and purchase behaviors can be identified by multivariable segmentation systems that merge and analyze geographic, demographic, lifestyle, and behavioural data.

When marketers at Procter & Gamble selected the Millennials, a demographic that includes college students, as an untapped group of potential customers for their Febreze line of products, they were executing which step in the process of designing a customer-driven marketing strategy? market segmenting mass marketing differentiation targeting positioning

Lexus targets wealthy consumers with similar needs and buying behaviours, even though the consumers are located in different countries.This is an example of ________. intermarket segmentation loyalty segmentation life-cycle segmentation targeting segmentation psychographic segmentation