Exam 6: Target Markets: Segmentation and Evaluation

Crest toothpaste is available in several different versions, such as Crest Whitening, Crest Tartar Control, Crest Whitening with mouthwash, and Crest Total Effects. Given these different variations of the product, it appears that the marketers of Crest are segmenting the market by using ____ segmentation.

Volkswagen markets its Routan to large families, its R32 racecar to men, and its Jetta to young singles. What targeting approach is Volkswagen using?

Smart Balance produces a line of milk products that are lactose-free. The milk comes in pint, quart, and half-gallon cartons, as well as 16-ounce glass bottles. Smart Balance sells its pint cartons to school systems, its quart and half-gallon cartons to grocery stores, and its glass bottles to vending machine operators. Smart Balance appears to use a(n) _____ strategy in marketing its product to a target market that is likely to be _______.

With its Venus razor, Gillette was the first marketer to offer a triple blade razor specifically designed for women. This is an example of market segmentation using ____ variables.

Frito-Lay Snack Foods is currently conducting market segmentation studies. For several segments, they have completed competitive assessments and cost estimates. The next major step they must take is to

A firm using a concentrated targeting strategy aims its marketing activities at one segment of a market.

When evaluating market segments, which three major issues should be considered?

Scenario 6.2 Use the following to answer the questions. GE Transportation produces locomotive engines for sale in countries around the world. After looking at the total market for locomotive engines, the company found that various rail lines wanted different types of engines. Major rail lines in the U.S. and South America wanted engines to haul heavy freight. Rail lines in Sweden and Germany were interested in a cleaner, greener locomotive engine. Rail lines operated by several Eastern European countries wanted locomotive engines for running short distances between cities in their own country. GE Transportation is currently manufacturing its GE 4400 for heavy freight, its Hybrid Eco-Engine, and its Dash 9, suited for shortline transport. -Refer to Scenario 6.2. If a GE Transportation researcher analyzes monthly sales data for a four-year time frame, looking for periodic fluctuations, the researcher is doing a ____ analysis.

Lifestyle analysis focuses on people's activities, interests, and opinions.

The four requirements of a market are that the individuals in the market must have a need for the product and the ability, willingness, and authority to buy it.

____ describe the similarities among potential customers within a market segment and explain the differences among people in different market segments.

Through marketing newsprint to newspaper publishers and glass manufacturers that use it in packing, International Paper segments its market based on

After an organization has determined which of the many segmentation variables it will use, the next step in the target market selection process is

There are only two basic strategies for selecting target markets: the undifferentiated targeting strategy and the concentrated targeting strategy.

It is likely that during the fifth step of the target market selection process, marketers will decide not to enter and compete in any market segments.

Why is it important for marketers to forecast sales potential for the entire industry as well as for the individual company?

The process of dividing a total market into market groups because people within each group have relatively similar product needs is called

Company sales forecasts are least likely to be based on

One condition for effective segmentation is that at least one segment must have substantial profit potential.

Why would a company use the undifferentiated strategy?