Exam 10: Segmenting, Targeting, and Positioning

Demographic segmentation is so frequently used in market segmentation because it ________.

Why might demographic segmentation be the most common type of segmentation?

When New Port Shipping uses segmented marketing, it targets several segments and offers a unique product tailored to each one. This approach is called ________ marketing.

Which of the following criteria is it most important that a group meet in order to be considered a true segment?

________ involves looking at individuals with similar life experiences at different times in their history.

Why might a marketer of laundry detergent be interested in viewing a perceptual map?

________ occurs when a business first identifies a market segment it wants to serve and then develops a product or service that is appropriate for that segment.

Today, most companies have moved back toward mass marketing and are being choosier about the customers with whom they wish to build relationships.

Communication of a USP can provide a good foundation for successful positioning. What does USP stand for?

Which type of market coverage strategy requires a company to have the most detailed understanding of its target market?

Explain the five major segmenting variables for consumer markets.

Because Cruise Ships International currently has limited financial and personnel resources, it should avoid concentrated marketing until its resources are more substantial.

Differentiated marketing is also known as multisegment marketing.

Provide an example of behavioral targeting.

Which type of positioning is based on the attributes of products or services and their corresponding benefits?

Shampoo marketers rate buyers as light, medium, or heavy product users. This is ________ segmentation.

Refer to the scenario below to answer the following questions. Herb Marks was making wooden writing utensils as a hobby until Mel Yoder recognized Herb's talent. Mel immediately ordered 250 pens and pencils of various styles to be displayed in his shop's showcase. Within three months, the writing utensils were a hit! Herb Marks had never thought of marketing his talent, but Mel's enthusiasm and the recent sales were enough to change his mind. With limited resources, Herb contacted three additional specialty shops within 100 miles. He explained his manufacturing processes and engraving options to each. All three shops' owners placed a trial order. Within two months, just prior to the holiday season, each shop owner placed an additional order. Herb was ecstatic! "I figured business would slow down after that," Herb stated, "but in February I was contacted by Elmore Distributors. At that point, I had to make a huge decision about how far I wanted to go with this business." Elmore Distributors provided products for school fundraisers in a seven-state area. Herb was offered a two-year contract and immediate inclusion in Elmore's promotional flyer. Herb Marks accepted the offer and, along with it, the responsibility to produce thousands of wooden pens and pencils. "I had to get a grip on the magnitude of this project!" Herb added. "I couldn't grow out of control. I was already working to capacity." Herb decided to place his major focus on the large contract with Elmore. However, to avoid placing his total emphasis with one customer, Herb continued nurturing his four previously established accounts without targeting any additional customers. "At this point, I had set up an assembly line in a rented building," Herb explained. "I had to hire three full-time employees to work the line while I managed the customer orders and purchased materials." Herb paused. "But I can't take the Elmore project for granted. It might not always be there. I'll have to have a good alternate plan if that day comes." -In marketing his writing utensils to his four specialty-shop customers, Herb is using ________ marketing.

Explain why mass marketing in the United States was easier in the 1960s than it is today.

Consumers can show their allegiance to retail outlets or product or service brands. Marketers can use this information to segment consumers by ________.

You have just created the "perfect" ad. It communicates the full mix of benefits upon which the brand is differentiated and positioned. This full positioning of the brand is called ________.