Exam 2: Consumer Focused Strategy: Segmentation and Positioning

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

is the tendency for a company to focus exclusively on large, average market segments and neglect small, less typical segments.

People that live near one another often become more alike over time.

Procter and Gamble offers over 10 different diaper products.Unfortunately, many of these products are similar and compete with each other.What is this consequence of segmentation?

Premium pricing, which is sometimes called prestige pricing, is pricing a brand at the top end of a product category's pnce range.

What marketing practice benefits the consumer and the marketer alike by encouraging the efficient use of marketing resources and information, thus improving society's standard ofliving?

According to your readings, 7Up Soda has successfully competed in the soft drink product category by pursuing a "tum a disadvantage into an advantage" positioning strategy.

The V ALS System is a segmentation tool that uses behavioral-based segmentation.

The fact that some people prefer mint flavored-toothpaste, while others prefer cinnamon-flavored is know as:

If all humans were the same in their preferences and behaviors, market segmentation would not be needed.

Geographic bases for segmenting consumer markets are based on a consumer's physical location.

Identify and describe 3 examples of segmentation based on demographics.

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?

Describe what gaps in a perceptual map might represent.

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

The price segmentation model divides customers into four broad categories based on the customer's "perceived pain" of paying a high price and the "perceived value" of product differentiation.A customer who is in a "Value Segment" is best characterized by which of the following?

Because it is logical to assume that size of a potential market segment is positively correlated to profit, pursuing the largest market segment makes sound business sense.

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

What are the factors that influence, and how do they influence, market segmentation strategy?

Demographic bases for segmenting consumer markets include customers' vital population statistics, such as age, gender, income, and education.