Exam 8: Identifying Market Segments and Targets

Effective target marketing requires that marketers use market segmentation, market targeting, and market positioning to achieve success in the marketplace.

A hardware store has decided to use the VALS segmentation system to target consumers. The store is particularly interested in reaching people who are characterized by the VALS system as being practical, down-to-earth, and self-sufficient who like to work with their hands. Which of the following VALS categories most likely matches to the hardware store's segment of interest?

A marketing manager targeting Generation Y should be aware that this group is turned off by

Assuming you were a marketing manager that was interested in segmenting business markets by operating variables, what three questions would aid in the segmentation decision?

Not all attempts to target children, minorities, or other special segments draw criticism. Which of the following is the best illustration of a company (or industry) that seems to be marketing to the above in a correct and ethical way?

In ________ marketing, the seller engages in the mass production, mass distribution, and mass promotion of one product for all buyers.

Psychographics is the science of using psychology and demographics to better understand consumers.

A marketer is interested in segmenting a business market on ________ if the marketer intends to segment the market based on industries and geographical areas to serve.

The argument for ________ marketing is that it creates the largest potential market, which leads to the lowest costs, which in turn can lead to lower prices or higher margins.

Briefly describe single-segment concentration with an example.

When Coca-Cola sold only one kind of Coke in a 6.5-ounce bottle, it was practicing what is called

Think of someone you know who fits the demographic description of a married woman in her early forties with two teenage children. Now describe this woman using a psychographic description.

Marketers usually identify niches by

Online commerce has led to a shift in consumer buying patterns. Two aspects of internet shopping have led to this shift. First, greater choice is permitted by increased inventory and variety, and second,

Which of the following costs that are likely to be lower if a marketer pursues an undifferentiated marketing approach?

In ________ marketing, the firm operates in several market segments and designs different products for each segment.

According to the VALS segmentation system, the Strivers are at bottom of the typology with the lowest resources and lowest with respect to innovation.

A company can be said to have used ________ if the company distinguished business customers buying on the basis of price, service, and quality.

A new trend in marketing is toward customerization. Describe what customerization is and how marketers are using it.

Niche marketers presumably understand their customers' needs so well that the customers willingly _____