Exam 8: Segmenting and Targeting Markets

June LaVista owns a health and fitness gym.After dividing her customers into four segments based on income range,age,level of fitness,and other selected segmentation descriptors,she wrote out a description of each segment's size,expected growth,frequency of exercise,and overall profit potential.Which step in segmenting a market is LaVista engaged in?

Hank operates a plumbing and electrical supply store.He has categorized its business customers by their purchasing strategy.Hank has found it much easier to serve and satisfy the _____,who usually recontact familiar suppliers and place an order immediately if product and delivery requirements are acceptable.

All of the following are criteria for successful market segmentation EXCEPT:

When asked to name a brand of sports drink,most people will answer Gatorade,and some will respond with Powerade also.But people with diabetes who still need to replenish electrolytes lost during activity or illness cannot drink these sports drinks because they are high in sugar and thus cannot be drunk by diabetics.As a result,a manufacturer has developed Champion Lyte,which contains no sugar.The manufacturer of Champion Lyte has used _____ segmentation to identify its market.

Market segmentation can assist marketers to do all of the following EXCEPT:

You are the marketing manager for a food products firm.Your firm would like to introduce a new beverage to the marketplace.You have determined that two important dimensions for positioning a product are (1)nutritional value and (2)age orientation.Place the following beverages on the perceptual map provided: Coffee,Orange Juice,Diet Cola,Apple Cider,Mineral Water,Milk,Herbal Tea,Liquor,Tomato Juice.Assuming the listed beverages comprise all competitive beverages,what position should your firm's new beverage have? Describe the new beverage.

In market segmentation,individual psychographic variables can be combined with other variables to provide more detailed descriptions of market segments.

Turkey Hunting Equipment Around the beginning of fall each year,about 2.7 million turkey hunters all over the United States start looking at catalogs for the perfect item to guarantee that this year they will kill a wild turkey,the most elusive game bird on the North American continent.The devoted turkey stalker can stock up on everything from camouflaged turkey hunting socks,turkey license plate holders,vests with huge pockets for toting dead birds,and hunting videos to turkey decoys,turkey earrings,and turkey callers.Neil Cost is considered the best manufacturer of turkey callers in the world.It is his only product,and each is highly prized by turkey hunters.It is not unusual for a turkey hunter to pay $5,000 for one of Cost's callers. -Refer to Turkey Hunting Equipment.Segmenting a market based on the fact that people who enjoy hunting typically exhibit a particular lifestyle is an example of _____ segmentation.

There are a number of devices that parents can buy to prevent their children from hearing objectionable language while they watch television.ProtecTV is the only product of its kind that has an expandable dictionary.Parents can add words and phrases they find offensive,and the additional words will be deleted from soundtracks and captioning.ProtecTV uses a(n)_____ strategy.

Discuss the advantages and disadvantages of single-variable segmentation and multiple-variable segmentation.

Piper Corporation makes aircrafts.It produces several different planes for three categories of customer: Professional,Personal,and Trainer.What type of targeting strategy is Piper using?

A market is people or organizations that have:

A product's position refers to where it is located on store shelves.

Almost all cell phones sold in the United States are black or gray.Almost all cell phones sold in Europe are colorful,and very few black phones are sold.A cell phone manufacturer knowing this information could use _____ segmentation when selling its phones internationally.

Wrestling Merchandise Market research has shown that 6- to 17-year-old males,18- to 24-year-old females,and 18- to 44-year-old males are most likely to watch a televised professional wrestling event or to attend a live match.Wrestling events are regularly broadcast in 120 different countries.Merchandise licensed by World Wrestling Entertainment (formerly known as the World Wrestling Federation)can be purchased at JCPenney and Walmart.Clothes for adults are used to reach markets that may not buy action figures,video games,and novelty candy,but who are still proud to sport World Wrestling Entertainment (WWE)trademarks. -Refer to Wrestling Merchandise.Prior to the 1990s,professional wrestling tried to compete as a legitimate sport just like football and baseball.Now it uses the term sports entertainment when talking about what it is marketing to its fans.This is an example of the implementation of a(n)_____ strategy.

In Baton Rouge,Louisiana everyone who is anybody in society can't wait to get a copy of 225 magazine.The magazine is targeted to the upper middle and upper classes in Baton Rouge and features articles on how they work and play.The editor of 225 magazine is relying on _____ segmentation.

Abbeville Press published a book by Armin Brott and Jennifer Ash entitled The Expectant Father: Facts,Tips,and Advice for Dads-to-Be.It is an advice book for men whose partners are expecting a baby.What demographic variables have been used to define the market for this book?

Mercedes-Benz Daimler AG,the maker of Mercedes-Benz automobiles,is planning to launch a new line of downsized luxury vehicles in the United States by 2012.Daimler has experienced a recent drop in global sales attributed to its product mix that focuses on larger luxury automobiles.With increasing fuel prices and stricter U.S.fuel-economy standards coming down the pipeline,Daimler doesn't want to be left behind.Daimler is behind its competition,though.Its German rivals,Audi and BMW,have been relatively successful in the U.S.BMW's Mini Cooper,demanding as much as $34,000,has already driven away with some of Daimler's potential sales.While Daimler already offers the Smart car in the U.S. ,the new offerings will not be going after the same consumer -Refer to Mercedes-Benz.Daimler plans to introduce the downsized luxury vehicles in major U.S.cities,such as Los Angeles,New York,Miami,Atlanta,Dallas,and Chicago,because market research has shown that these metropolitan areas have the greatest potential with respect to the consumers able to purchase a $30,000+ smaller luxury vehicle.Which type of psychographic segmentation does this represent?

Firms can be categorized by the type of purchasing strategy they use._____ usually contact familiar suppliers and place an order with the first that can meet product and delivery requirements.

A series of stages determined by a combination of age,marital status,and the presence or absence of children is known as the: