Exam 8: Segmenting and Targeting Markets

Tall Paul's designs and sells household furniture and furnishings to people who are over 6'6" tall--a rather small target market.Tall Paul's uses a(n)_____ targeting strategy.

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?

_____ is the process of grouping customers into market segments according to what is sought from the product.

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.

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.Wild turkey hunters would be defined as a:

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

You are given the following limited information about a market consisting of ten people.Describe all the possible ways to segment this market.

To be useful,a segmentation scheme must produce segments that meet four basic criteria.Name and briefly describe each of these four criteria.

One reason marketers use market segmentation as a tool is that once completed,the process need not be repeated.

All of the following statements are reasons why consumer goods companies take a regional approach to marketing rather than a national approach EXCEPT:

Fisher-Price is identifying Asian markets that are interested in their line of talking toys.Fisher-Price is engaged in the process of market segmentation.

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

Procter & Gamble markets six different brands of laundry detergent,such as Tide,ERA,Gain,and Dreft,each targeting a different market segment.This is an example of concentrated targeting.

The 80/20 principle implies that the majority of all demand is due to a minority of the customers.

What is a market segment? Define market segmentation and discuss why market segmentation is important to the well-being of most companies.

A (n)_____ could help determine whether or not snacking consumers consider Kashi Tasty Little Crackers healthy and tasty in comparison to other brands..

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

Rachel is the owner of a gift shop.She understands the need to segment her market,and available marketing research indicates there is much demand in the community for personalized gifts.She has few resources and cannot engage in intensive consumer research to precisely identify a segment.Which of the following strategies would you suggest she employ?

Business marketers focus on all of the following market segments EXCEPT:

Coca-Cola launched a new Black History television commercial on BET to coincide with the Martin Luther King Jr.holiday.  The ad is just one element of a strategy for connecting with African-American consumers.Coca-Cola's segmentation plan for this promotional campaign is based on _____ segmentation