Exam 6: Target Markets, Segmentation and Evaluation

Axe has been a successful marketer of men's body spray, deodorant, and antiperspirants and is a division of Unilever. Axe supports a variety of fragrances and releases new products, which are supported by marketing efforts including racy advertising spots and a company-owned YouTube channel. The individuals who purchase Axe deodorant or body spray for their own personal use represent Axe's _____ market, while retailers such as Target, Kmart, Walmart, and grocery stores such as Kroger represent the company's __________ market.

What is the main problem with using a market test as a forecasting tool?

Marketing managers have several choices in selecting a targeting strategy. Jessica Brandt is a marketing manager with a craft bourbon distiller in Kentucky and knows that there are many different types of bourbon drinkers. However, she concentrates her marketing on the enthusiast or high-involved bourbon drinker who often enjoys a bourbon beverage before or after dinner, reads magazines to keep up with the craft bourbon industry, and is a member of their e-mail list and subscriber to the company's blog. Jessica knows that this segment of bourbon drinkers will consume more bourbon, be more likely to engage in positive word-of-mouth about the brand, and will also be more likely to purchase accessories such as glassware or T-shirts. Jessica is most likely utilizing the _____ targeting strategy, employing just one marketing mix and focusing on one target market segment.

Which of the following is not a requirement or characteristic of a market?

Crisco is an all-vegetable shortening that helps cooks around the globe create better-tasting meals for their families. The company is part of Procter & Gamble and Crisco was developed in 1911. They released their first print advertisement in 1912 and focused on how Crisco could be used as a replacement to lard and butter. Crisco is still a dominant brand today, and many families have the familiar blue tub of Crisco in their pantry as well as a container of liquid vegetable oil to use when cooking. Crisco believes its market is _______, where individuals have similar needs for the product. It therefore utilizes a _________ targeting strategy as it can incorporate a single marketing mix and direct it at the entire market for its products.

Samantha's team is analyzing target markets for the company's new product idea. Her group is currently considering the different factors it should adopt to divide the market. A major part of this decision involves the customers' needs for, uses of, or behavior toward the product. Which stage of the target market selection process is Samantha and her team currently at?

A disadvantage of the concentrated targeting strategy is that

In order for the marketer to achieve effective market segmentation, which of the following conditions must exist?

Scenario 6.1 Use the following to answer the questions. Angels Kids Spa offers various treatments designed to appeal to the younger customer. Treatment options include manicures, pedicures, facials, tea parties, and dress up photos. Parents can even purchase a birthday party package. Currently, Angels offers its services only to girls under the age of 14. Originally begun in Delaware, Angels is considering opening its spa/salons in other parts of the country and is planning to expand its offerings to girls aged 14 to 17. The company realizes that some changes may be needed. For example, management wants to find out if the older girls will be interested in their birthday party and tea party services. Refer to Scenario 6.1. Which of the following best describes Angels' current approach to the market?

Demographic characteristics are commonly used to segment a market because they are closely related to consumers' product needs and purchasing behavior.

The information yielded by market segment profiles usually is not very useful later in the marketing process.

A business advantage of the concentrated targeting strategy for any company is that it

A company sometimes defines a total market as its target market.

The manager at a local recreational vehicle store, Off-Road Rage, believes the next two years will be difficult because of an economic recession. Using this forecast, he determines the effect on the industry's market potential and then estimates how his company's potential sales will look based on this outlook. This manager is using a ____ approach to estimating sales potential.

Family life cycle is a psychological dimension used for segmenting markets.

In a customer forecasting survey, a marketer would question customers about the types and quantities of products they intend to buy during a specific time period.

Consideration of the firm's overall objectives usually does not influence the final selection of a target market segment.

When markets are comprised of people with differing product needs, the marketing manager should use a(n) ____ strategy.

Market segment profiles help determine the most desirable segment or segments in relation to the firm's strengths, weaknesses, objectives, and resources.

Individuals, groups, or organizations with one or more similar characteristics that cause them to have similar product needs are classified as