Exam 7: Segmentation, Targeting, and Positioning

According to your text, the segmentation base that is often the most difficult to use is

In order to boost sales, the manufacturer of the soft drink 7UP embarked on a digital campaign called "Mix It UP a Little," highlighting the use of 7UP in baking, cooking and mixing cocktails. This is an example of

The first step marketers should take when deciding how best to position their product is to

Market segmentation produces relatively homogenous groups of consumers called

The market is divided into groups according to the reason the consumer made the purchase when marketers segment based on _________.

A succinct description of the core target market to which a product is directed and a compelling picture of how the firm wants that core market to view the product is called a

The major advantage of a(n)_________ targeting strategy is the potential savings in developing and marketing the product.

An expensive boutique hotel in your city offers valet parking, an extensive wine list, a Culinary Institute of America-trained chef and hotel rooms starting at $400 (average hotel rate in your city is $145)per night. A salesperson from a local marketing firm that offers a coupon (discount)book filled with two-for-one dinner deals from many local businesses has contacted the manager of this hotel to see if she is interested in being promoted through this coupon book. Should the manager purchase space in this book?

After Colin opened up his new sports bar/restaurant, he determined that students from the nearby college campus will provide him with the best opportunity to maximize sales, so he is concentrating his marketing efforts on this group which will be his

There are ethical concerns about targeting to certain market segments. Two segments of particular concern are ________ and older adults.

According to your text, when selecting a target market, firms should consider three important factors: growth potential, level of competition, and

Once a business has segmented its markets, what factors should it consider when choosing the market(s)it will target?

In today's society, environmental safety has caused marketers to rethink their products. Now many products include some type of environmentally friendly packaging. These products are being marketed as safer for the environment because they are made from biodegradable materials. This is an example of

When marketers segment based on psychographics, the market is divided into groups according to the reason the consumer made the purchase.

Market segmentation helps firms decide how to allocate their marketing resources in a way that maximizes profit.

When companies divide markets using characteristics such as age, gender, income, education, and family size, they are segmenting the market by _________.

The final step in deciding how to best position a product is to evaluate customer ________.

Market size, customer lifestyles, and population shifts are all important geographic segmentation tools.

A firm that uses a price-quality relationship to highlight its competitive advantage will negotiate discounts from wholesalers and keep distribution costs low so it can pass the savings on to its customers.

The science of using psychology, demographics, and ________ traits to segment consumers is called psychographic segmentation.