Exam 9: Market Segmentation, Targeting, and Positioning

A relatively homogenous group of prospective buyers that results from the market segmentation process is

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

Selling a product to a different market segment usually requires a different marketing action that, in turn, means greater costs. If increased revenues don't offset extra costs of this action, a marketer should

The purpose of the five key steps in segmenting and targeting markets is to

The annual Street & Smith's Baseballmagazine uses 15 different covers featuring a baseball star from each of its regions in the United States, yet each regional issue has the same magazine content. The publisher is using which of the following segmentation strategies?

The quantity consumed or patronage (store visits) during a specific period is referred to as

All of these are psychographic segmentation variables except which?

After establishing the market segments and product groupings on a market-product grid, the next step is to

Small athletic shoe manufacturers such as Vans target niche markets like street culture or action sports enthusiasts, making shoes designed to satisfy the needs of these different specific groups of customers. This strategy is an example of

Which of the following statements demonstrate the formation of a segment based on household size?

Custom Foot operates six retail locations. At first glance, none looks different from a typical boot store. But here the only boots on hand are display models. There is no inventory for sale and customers go home empty-handed, awaiting their orders. Customers browse the store, choosing style, color, and leather type, with about 100 displays to provide style guidelines. Custom Foot guarantees your boots will be ready within three weeks. This is an example of

Name Maker is an online company that sells, among other items, high-end gift wrapping that can have custom slogans or names printed on it, such as the name of a person celebrating a birthday or a couple who is getting married. This made-to-order gift wrapping is an example of

To effectively position a product or brand, companies take four steps, including which of these?

As an owner of a Wendy's fast-food restaurant located near a large urban university, you need to analyze your customers and determine which segmentation base and its associated variables you will use to segment your target market. Which segmentation base and associated variables should you use?

What are the segmentation bases for U.S. organizational (business) markets?

Behavioral segmentation may be based on

What are the three types of data needed from consumers to develop a perceptual map?

In an the Apple market-product grid for its personal computer line, the iMac is popular among all the segments Apple can target. This product would allows Apple to enjoy

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

The annual Street & Smith's Baseballmagazine has 15 different covers featuring a baseball star from each of its regions in the United States, yet each regional issue has the same magazine content. What is the basis of its market segmentation strategy?