Exam 6: Market Segmentation, positioning, and the Value Proposition

A powerful value proposition in many situations includes functional,emotional,and self-expressive benefits, 

Scenario 6-1 Headquartered in Boston, Gillette is a world leader in male grooming, a category that includes blades, razors, and shaving preparations. Several years ago, Gillette announced the launch of two new high- performance women's razors, broadening the portfolio of the top-selling Venus brand, the world's most successful franchise in female shaving. The two new razors were Venus Vibrance, the first power wet shaving system for women, and Venus Disposable, a premium-performing disposable razor. Both razors incorporated technological and design enhancements to better address the specific shaving needs of women, and will build on current market segments. More recently the company has launched Venus Embrace, the first five-blade women's razor, with the tagline, "Reveal the Goddess in You." According to its website, at one point there 40 million women using Venus products. -(Scenario 6-1)According to the information provided here,Gillette has identified market segments along lines.

If Nike decides to use the STP framework,it does not need to do market segmentation.

Which system has identified many market segments based on zip codes and the personal characteristics of their residents,creating a well-known tool for geodemographic segmentation? 

Bumbo is a company that manufactures products for babies and toddlers.Its advertising campaigns have carried various slogans over the years,and they change up the thematic core of the messages every week.This is an example of consistent positioning approach.

The consumers termed ____ turn out to be a costly target segment; much can be spent in getting their business merely to have it disappear just as quickly as it was won.

An important apex in Thorson and Moore's strategic planning triangle entails: 

Positioning relates to an attempt to give a brand meaning relative to its competitors.

One drawback of niche marketing is that a company may have to raise the price of its product due to the smaller volume of sales it can expect.

What is the difference between a consumer market and a business market? Give an example of each.Then describe how business markets are segmented,and use your example to explain your answer.

In the world of advertising,products are positioned,but markets are segmented.

Scenario 6-4 Jay and Carrie Garrett operate a small retail store in a college town that sells only house plants and accessories, which they named The Plantatarium. Their initial feeling when they went into business was that virtually everyone was a potential customer for house plants. Subsequent market research conducted for them painted a different picture. This research identified three particularly strong market segments. The first was college students ages 18-24. The next segment was retired seniors ages 65-80. The third segment was professional offices for doctors, accountants, and lawyers. The college students liked houseplants because they dressed up their living spaces. The seniors liked them because they became the focus of a hobby. The professionals did not buy them for any reason other than décor. -(Scenario 6-4)The Plantatarium promotes itself in different media using the phrase "An out-of-this-world selection of unique plants." This phrase is a reflection of the firm's 

Psychographic segmentation is used in selecting target segments by focusing on consumers' descriptors such as theirvalues,beliefs,philosophies,and opinions.

What is the first step in STP marketing? 

Brand opportunities relate with credibility,relevance,stretch,and differentiation.

A brand's opportunity claim is a statement of the brand's benefits that provide value to its target consumers and includes functional,emotional,and self-expressive benefits. 

The McDonald's team aligned its marketing mix in a design that would represent a particular identity,showcasing certain themes and value,and shaped to gain distinctive approval from parents.This demonstrates the process of ______.

Scenario 6-2 Sunshine Meals Inc. is a company that sells breakfast foods such as cereals, pancake mixes, etc. The company conducts a study to segment its consumers. It finds that segment A consists of a small group of individuals who purchase four boxes of the brand's cereal every week. The average user consumes one box every week. It targets segment A by providing them with samples of other Sunshine products with the purchase of one box.Segment B consists of a large number of college students and individuals who have recently begun living on their own, and require readymade mixes as their breakfast solution. It targets these consumers by providing more variety with pancakes and waffle mixes. Segment C consists of consumers who are not consistent buyers; targeting these consumers could prove a loss for the company. -(Scenario 6-2)Which of the following marketing strategies is more likely to have been used by the company to target segment B users? 

Psychographic segmentation is a term that advertisers created in the mid-1960s to refer to a form of research that emphasizes the understanding of consumers' activities,interests,and opinions.

As a segment,variety seekers: