Exam 8: Segmenting and Targeting Markets

Scott owns Buffalo Mountain Coffee in Deer Park,Ohio.He understands the need to segment his market,and available marketing research indicates there is much demand in the community for unique coffee drinks.However,he has few resources and cannot engage in intensive consumer research to precisely identify a segment.Which of the following strategies would you suggest he employ?

A(n)_____ strategy entails selecting one segment of a market to target,and focuses on understanding the needs,motives,and satisfactions of the members of that segment,as well as on developing a highly specialized marketing mix.

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.The marketing research revealed that _____ segmentation can be used to identify the biggest fans of professional wrestling.

The requirement for a market segment to be responsive means:

The marketing manager of Gevalia gourmet coffees wants to target the gay male consumer because he thinks this segment of consumers appreciates and consumes gourmet coffee.Even though gay lifestyles are becoming more accepted socially,the manager is finding it difficult to determine the market potential for this segment because many gay consumers are not willing to admit their lifestyle publicly.Which criterion of a useful segment does this illustrate?

Miller Lite's long-running "Great Taste...Less Filling!" advertising campaign was ranked by Advertising Age magazine as the 8th-best advertising campaign in history.Miller Lite was using _____ segmentation in this ad campaign.

ThinkGeek is an online retailer that caters to computer enthusiasts and other "geeky" social groups.Their merchandise includes clothing,electronic and scientific gadgets,unusual computer peripherals,office toys,pet toys,child toys,and caffeinated drinks and candy.ThinkGeek runs a points-for-reward system called Geek Points,under which customers can earn rewards for buying more products.This is an example of segmentation by:

Deal$ stores sell a wide variety of low-priced merchandise: party supplies,cleaning products,toys,food,housewares,and health and beauty products for both men and women.Many items in the store are priced no higher than one dollar.Which type of demographic segmentation is Deal$ using?

Tower Fasteners developed a commanding position in the fastener industry by having in stock over 150,000 different types of fasteners.Tower's primary market is defined as companies with a need for specialized fasteners.All of the following are characteristics of the buying organization that Tower can use for segmentation EXCEPT:

What are the four criteria that are necessary to define a market?

_____ is one of the potential disadvantages associated with a multisegment strategy.

Sure Fit,Inc.has begun a rebranding strategy to let customers know it no longer only produces slipcovers,but now also carries a line of rugs,window treatments,and bedding.Its _____ is described as women with average annual household income of $60,000 or more.

Small firms often adopt a concentrated marketing strategy to compete effectively with larger firms.

One segment of a market is called a:

Modern Bride is a publication that contains articles and lots of ads for the bride-to-be.Many young women consult this magazine as they plan their special day.The segmentation base used to define the publication's target market is based on _____ variables.

The slogan used by Apple to promote the iPhone,"There's an app for that," indicates the company relies heavily on benefit segmentation variables.

The Ritz Carlton hotel chain is renowned for its service and individual treatment of its customers.All service staff and employees have note pads and are taught to record every little piece of information they learn about a customer.If a business traveler ordered soft pillows,only wanted martinis in his mini bar,and needed access to a fax machine,he would find all of these amenities in his room when he arrived.The Ritz Carlton is basing its one-to-one marketing on which of the following trends?

H&M plans to open a new store in Saudi Arabia.It will be staffed completely by women.Saudi Arabia has strict laws about women interacting with men other than their husbands so only women will be permitted to shop there.Which type of demographic segmentation is H&M using?

What is geodemographic segmentation? What is the result of geodemographic segmentation? Give one specific example that illustrates this type of segmentation.

Jane graduated from high school in 1978,is married,and has two teenaged children.Most of Jane's friends from high school have children who have already graduated from college,gotten married,and some with grandchildren.Jane and her former classmates are at difference stages of the: