Exam 9: Market Segmentation, Targeting, and Positioning

Progresso Soup has a line of hearty soups that are promoted to all consumers using a single marketing mix. The company is utilizing ______ marketing.​

Which of the following segmentation approaches is most likely to help marketers quantify aspects of consumers' personalities and lifestyles to create goods and services for a target market?

Which of the following is a basic requirement for effective market segmentation?

Clairol offers a line of hair color called "Nice n Easy," which allows women to touch-up their hair and easily cover their gray hairs conveniently and easily at home. Based on research, Clairol knows that women aged 30 and above are most likely to need some type of color product to hide their gray hair and maintain a youthful appearance. What type of segmentation does Clairol use by targeting women over 30?

Business products contribute directly or indirectly to the production of other goods and services for resale.

​You've started a business on your college campus to sell luxurious blue dorm room rugs with the college logo. You plan to target male freshmen who come from local towns, like the color blue, can afford luxury products, want rugs for their rooms, and are enthusiastic about boosting the school. You can easily and efficiently promote to all freshmen, including this segment, with Facebook and other social media tools. But your marketing professor cautions that you may be unable to meet certain criteria for effective segmentation. Which criteria does she cite?

Since rubber purchased by Goodyear is utilized to manufacture tires that are ultimately used by consumers for their automobiles, rubber is a consumer product for Goodyear.

Concentrated marketing strategy ties a firm's growth to a specific market segment.

Jimmy opened McGill's Microbrewery in his hometown of Cicero, Illinois. While the beer business has 100s of brands, Jimmy focused on a single product - McGill's Double Hopped Barley Beer. The beer was only sold on premise to customers that came to the brewery. McGill's is taking a(n) ______ approach.

Marketers adopt different strategies in order to promote their products in the market. But what is a market? Select the best definition of market from the choices below:

Marketers must consider the advantages and disadvantages of each marketing strategy as they choose which one is the best fit for their firm. You have chosen to market your company's product using a differentiated marketing strategy. What disadvantage will you face?

The product-related segmentation of consumers based on the strength of their attachment and allegiance to their preferred products is called _____ segmentation.

Division of the total market into smaller, relatively homogeneous groups is known as market optimization.

Describe the three basic strategies for reaching target markets.

Cadillac has strategically sought to become known as a prestige brand among 30-to 50-year-olds and routinely uses television advertising to showcase the high quality and luxury attributes of the new models. It seeks to use _______ to separate the brand from other U.S. brands and be perceived more similarly to European models such as Audi and BMW.

Many retail chains have stores across the country or even globally. For the most part, these stores are centrally controlled and have standard store practices. However, there are times when characteristics of local markets influence the product mix. For example, stores in Florida may carry swimwear year around, while stores in Minnesota might only have these items a few months in the spring and summer. It appears these retailers are using:

Concentrated marketing is also known as niche marketing.

Cecile is an avid cook and enjoys spending time in the kitchen as well as watching shows on the Food Network. She recently remodeled her kitchen and purchased new appliances. Since she enjoys cooking so much, Cecile purchased a commercial range from a local restaurant supply store and it features double ovens and 12 burners. Her contractor had to make some modifications to enhance the safety of this stove for use in her home but no other changes were needed. What type of product is the stove in the context of this example?