Exam 3: Consumer Behaviour Concepts and Target Marketing

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What are the three steps involved in market segmentation?

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The ability of a company to target specific customers is based on the concept of market segmentation, which involves dividing a large market into smaller segments based on common needs or similar lifestyles. The first step is to identify potential market segments. The second step is to select the segments that offer the most potential. These are typically targets that offer the greatest profit potential. The third step is to position the product so that it appeals to the target market.

"Suburban Gentry" is a market cluster segmented by geography.

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Double targeting is an example of which method of segmentation?

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Demonstrate how psychographic research has been important in the development of advertising for automakers.

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Double targeting involves devising separate marketing strategies for men and women.

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Explain the difference between the product differentiation positioning and innovation positioning.

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Positioning refers to the place a brand occupies in the agency's campaign.

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Advertisers attempt to

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Ideal self is how you see yourself.

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Looking-glass self is how you think others see you.

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When organizations target their markets psychographically,

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In some large cities, ethnic communities represent accessible market niches. For instance, it is estimated that in 2031 Toronto's visible minorities will reach ________% of the population.

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How can marketers use the self-concept theory to their advantage?

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The "Pepsi Challenge" campaign is a classic example of

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When print ads in Quebec for Dr. Pepper capitalized on the medical image of the brand, this was an example of

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The highest level of Maslow's hierarchy of needs is

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What impact do members of a family have on consumer behaviour?

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AIOs include frequency of purchase.

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Beauty and personal care products are famous for appealing to safety needs.

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Explain the challenge that ethnic diversity presents to advertisers.

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