Exam 8: Segmenting and Targeting Markets

The Coca-Cola Company has over 450 brands in over 195 countries.According to their web site,their products range from Samurai,an energy drink available in Asia to Vita,an African juice drink.It uses _____ segmentation in this marketing strategy.

Wine Spectator is a magazine that targets people who appreciate good wine and food.However,the discriminating reader of this magazine is also interested in travel and health,so the magazine features travel and health-related stories.This publication relies on _____ variables to identify its target market.

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

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?

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.

Magazines like Martha Stewart Living,Better Homes & Gardens,and other magazines targeted to people who are interested in improving their personal spaces rely on _____ segmentation.

Ford Motor Company produces passenger cars,commercial trucks and specialty vehicles,performance vehicles,and race cars.Ford uses a procedure called _____ to divide its large market.

Mirage Resorts in Las Vegas has a system that allows hotel clerks instantaneous access to a client's gambling history to determine what sort of room or complimentary services will provide the guests with the highest level of service.The resort is practicing:

A manufacturer of blankets knows heavy 100 percent wool blankets sell better in the New England area where the winters are harsh and that lighter-weight blankets sell better in the Southeast market where mild winters require fewer and lighter covers for the bed.Segmenting the market according to climate is an example of _____ segmentation.

What is PRIZM?

Candace Popwell makes and markets Festive Holiday Truffles candy.The confectionary company owner views the world as one big market with no individual segments and tries to reach it with only one marketing mix.Her essentially mass-market philosophy indicates she probably uses a(n)_____ strategy.

Consumers in Louisiana love hot sauce,and Tabasco and Crystal brands are particularly popular there.Consumers in Michigan do not like hot food,so they purchase very little hot sauce.A national chain of grocery stores would likely use _____ segmentation when stocking condiment merchandise.

Clearing Skies Press published a book by Robert Ruark entitled Keeping the Baby Alive Till Your Wife Gets Home.It is an advice book for new fathers.The market for this books is based on demographics.

In Miami,several radio stations broadcast in Spanish and play Latin music for the Hispanic people living in South Florida.The radio stations are using _____ segmentation.

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.What kind of strategy does Neil Cost use to select his target market?

Changing consumers' perceptions of a brand in relation to competing brands is known as:

_____ divides individuals into groups according to the way they spend their time,the importance of items in their surroundings,their beliefs,and socioeconomic characteristics.

H&R Block launched a $100 million marketing campaign to parlay the company's intimate knowledge of 20 million customers' finances into other services like mortgages and investment advice.Block has great brand recognition,but consumers only care about it four months out of the year.H&R Block is attempting to _____ itself to make people think of it as a company offering services year-round.

Marketers use demographic information to segment markets because it is widely available and often related to consumers' purchasing and consumption behavior.List five common bases used by marketers for demographic segmentation.For each base listed,give an example of a product specifically targeted to the needs and wants of the segment identified within the base.

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.