Exam 3: Segmentation

Segments become more homogeneous as they increase in size.

Why is it not advisable to target an entire market with a new product offering?

VALS psychographic-based segmentation is based on the idea that consumers are inspired by one of three primary motivations.Identify the three motivations and describe them.

Company ABC is interested in better understanding how different groups of customers feel about its product.In order to do this, Company ABC will need to

Opinion leaders, innovators, or market mavens are known for their expertise and involvement in a category.

The least common marketing research technique used to segment customer data is cluster analysis.

The fact that snow-blowers tend to sell better in the North than in the South illustrates the importance of considering __________ in marketing planning.

It is easier to identify, obtain information on, and woo customers who are currently using a competitor's brand or who aren't even purchasers in the category.

Newlyweds are most likely to spend money on which of the following?

Young adults are most likely to be interested in which of the following?

Considering a continuum from mass marketing to one-to-one marketing, marketing segmentation is

The 80:20 rule is where 20% (or so) of your sales come from 80% (or so) of your customers.

To marketers, the most important feature of segments is their size, not their profitability.

Urban living affords certain elements of entertainment, and smaller towns offer different kinds of amusement.

"Current users" are relatively difficult to communicate with.

It is useful for marketers to understand the psychological and lifestyle choices that are relevant to the brand(s) the marketer is pitching.

Older couples who are empty nesters dream of spending their greater discretionary income on technology and furniture.

As segments increase in size, it becomes __________ to satisfy them with the same product.

Maslow's hierarchy ranges from satisfaction of basic biological needs to more abstract needs regarding well-being.

The contrast between mass marketing and one-to-one marketing illustrates that segments become more __________ as they increase in size.