Exam 6: Marketing Segmentation

Business markets can be segmented based on similar variables as those used with consumer markets.

Introducing a new product to a market of nonusers of the product it will be expensive and will constitute a challenge.

The process of segmenting the market based on the degree of consumer loyalty to the brand is referred to as _________________________.

In evaluating a segmentation strategy, ____________________ is the extent to which the market is large enough to warrant investment.

_____ is the shotgun approach to segmentation.

In a behavioral segmentation strategy of business markets, the ______________________________ segment is prepared to pay for higher-than-average service that is tailored to meet the users' needs.

Differentiated marketing is where the product is aimed at the entire market using a single marketing strategy.

Coke uses a stronger lemon flavor in their soft drinks in Europe than the flavor used in the United States. This is an example of geographic segmentation.

_____ segmentation is used to identify clusters of consumers who seek the same product benefits or who use or consume the product in a similar fashion.

What is a concentrated marketing strategy?

Match characteristics of each group with the VALS category : -Young, enthusiastic, and impulsive, they seek variety and excitement, and spend substantially on fashion, entertainment, and socializing.

In a behavioral segmentation strategy of business markets, the ______________________________ segment is the most demanding and needs extensive customer focus, placing considerable demands on the service provider.

The two major demographic segmentation variables are

The process of focusing on those segments that the company can serve most effectively and designing products, services, and marketing programs with those segments in mind is known as _________________________.

Wal-Mart advertises the savings and value of shopping at Wal-Mart because of their "Everyday low prices." This is an example of _____ product positioning.

Because PRIZM and ACORN classification systems are based on a person's zip code, the first variable being used for segmenting the market is

Consumers and/or markets that are similar in aspects relevant to a company are known as a _________________________.

Buyer readiness stage and occasion segmentation are examples of psychographic segmentation.

The behavioral segmentation strategy that divides a market based on the degree of brand preference, commitment, retention, allegiance, and the extent to which consumers engage in repeat purchases is known as

Usage rate segmentation is the process of identifying market segments based on users of competitors' products, ex-users, potential users, first-time users, or regular users.