Exam 2: Consumer Segmentation and Positioning

What is psychographics and how are markets segmented using psychographics?

Henry Ford, founder of the Ford Motor Co., is generally considered the first mass marketer.

According to the price segmentation model in your readings, which segment represents a combination of low "perceived pain" and high "perceived value" and is a highly desirable segment to marketers?

Which of the following is not a demographic characteristic?

Air Walk is a brand of athletic shoes that is marketed to appeal to individuals who engage in skateboarding. This is an example of what kind of segmentation strategy?

Consumers tend to use price as a gauge of quality. This phenomenon is called the price-quality heuristic.

Within the VALS System, Strivers have the fewest resources, often feel powerless, and are primarily concerned with safety and security.

Jungle Jim's International Market, featured in your readings, uses a market aggregation strategy.

The ultimate goal of market segmentation is better serving the consumer while improving profitability.

Market segmentation benefits consumers and has increased society's standard of living.

Define segmentation, target market, and positioning.

Which of the following statements demonstrates the formation of a segment based on demographics?

A market segment must have more than one person.

Perceptual maps show how a company's products and competitors' products are clustered by market share.

For years, Secret brand deodorant has run the slogan, "Strong enough for a man but made for a woman." This is an example of what type of positioning?

Market aggregation is the opposite of market segmentation.

The majority fallacy suggests that consumers' tastes are normally distributed.

_____ is the segment(s) toward which a firm's marketing efforts are directed.

Market aggregation strategies ignore differences among different groups of consumers.

PRIZM is a segmentation tool that uses psychographics.