Exam 7: Segmentation, Targeting, and Positioning

Figures from the 2010 Census illustrated a shifting population in the United States with _________ states growing substantially compared to the rest of the country.

The VALS typology classifies the American adult population into eight distinctive subgroups based on their motivations and level of resources. The three primary motivations include

In order to reach Millennials, marketers should strive to develop campaigns that seem authentic and real, two qualities Millennials take pride in.

You are a financial planner who uses demographic segmentation factors such as age, income, education and family status to identify potential clients for your retirement investing services. You are also interested in investigating how to use psychographic segmentation to identify potential clients. How can you use the concepts of psychographic segmentation to assist you in identifying additional clients?

The more intense the competition within a segment, the _________ (more/less)attractive it is to marketers.

Claritin, makers of allergy tablets, expanded its product line to include a chewable, fruit flavored allergy tablet, specifically designed to be easy for children to take. For this product, Claritin is segmenting the market based on

Firms can choose to promote one or multiple competitive advantages, as long as they can clearly articulate those advantages to their target market.

What can be said of the level of competition when selecting a target market?

When a company evaluates each market segment to determine which segment or segments present the most attractive opportunity to maximize sales, it is engaged in

How does a business know it has effectively segmented its markets?

_________ occurs when marketers evaluate each market segment and determine which segment or segments present the most attractive opportunity to maximize sales.

Global segmentation usually results in market segments made up of young people, those that have money to spend, or those with access to the Internet.

A department store that sells surf boards in California understands the importance of _________ segmentation.

Manufacturers who package toilet paper in large multi-packs, such as those found in warehouse clubs like Costco, are most likely targeting their market based on the demographic variable of

You are thinking of opening a luxury car wash offering premium services and auto detailing. What are the three ways that market segmentation helps firms and how would it help this firm in particular?

Segmentation based on where prospective consumers live, work, and spend their leisure time is referred to as

If the market segmentation process produces market segments that are large enough for the firm to make a profit by serving them, then the segments are _________.

American households that have between $100,000 and $250,000 in investable assets are one of the fastest growing segments in the United States and are referred to as

You have just started a carpet and upholstery cleaning service that only uses environmentally friendly cleaning agents that contain no chemicals. Compared to your competitors who use chemical cleaning agents, your prices are higher because your cleaning supplies cost more and you have to spend more time treating stains and high-traffic areas. Due to high gas prices, you plan to market to households that are within a 15- to 20-mile radius of your business location. What target marketing strategies should you pursue?

The VALS framework classifies adults into eight psychographic groups: Innovators, Thinkers, Believers, Achievers, Strivers, Experiencers, Makers, and