Exam 7: Segmentation, Targeting, and Positioning

What step in deciding how to position a product should be done on a continual basis since consumer tastes change for almost every product?

A perceptual map is a competitive analysis tool that creates a visual picture of where products are located in consumer's minds.

Market segmentation refers to

A firm marketing its product in the United States and abroad may have to tweak the product for its international customers and as such may have to market it differently. What type of targeting strategy would work best for this situation?

Market size, customer convenience and population shifts are all factors related to _________ segmentation.

A successful positioning statement should include the competitive advantages of the product.

Market segments are

When a company seeks consumers who are active users of Facebook and Twitter, this is an example of how ________ ________ can be used as a market segmentation strategy.

Firms typically segment international markets using three general bases: unique, regional, and _________.

The group of customers toward which an organization has decided to direct its marketing efforts is called its

Regardless of what target marketing strategy firms use, they must keep in mind the growing ethical concerns around targeting some market segments, in particular children and older adults.

Marketers are particularly interested in segmenting older Americans because they typically have two things that most of their younger counterparts do not have: time and ________.

Which of the following is not one of the broad segmentation bases outlined in your text that can be used to segment a market?

When it comes to segmenting markets based on income, the group of American households that have between $100,000 and $250,000 in investable assets and is one of the fastest growing segments in the United States is referred to as ________ ________.

An auto insurance company segmented its market by both gender and age and designed different marketing campaigns to appeal to both. In the end, both segments responded the same to the different marketing strategies, in part, because both segments are required to have auto insurance. This firm failed to understand the criteria of market segments needing to be

When highlighting a product's competitive advantage based on attributes, a firm will

The VALS framework identifies three primary motivations: achievement, self-expression, and _________.

Social media outlets like Facebook are not generally helpful in segmenting markets because of the wide variety of people who utilize this type of technology.

The two dimensions of the VALS framework, needs and wants, helps to explain why different consumer groups exhibit different behaviors, and why different consumer groups often exhibit the same behaviors for different reasons.

Stores such as Bass Pro Shops focus their attention on consumers who like to fish, hunt, and pursue other outdoor activities. This represents the form of segmentation called _________ segmentation.