Exam 5: Market Segmentation

Which of the following steps would a company undertake after it has determined the basic segments of the market that could potentially be satisfied with its product?

HealthPro cereal ads show the cereal being used as a topping on yogurt,served hot as an alternative to oatmeal,and as a snack food when topped with honey.HealthPro is using a positioning strategy based on:

An entrepreneur has developed a self-service soda-bottling machine.Customers can fill their own plastic soda bottles with 18 regular and diet flavors by placing empty bottles under a nozzle,depositing coin and punching a series of buttons.The machine dispenses the requested soda and a bar-coded dietary information sticker,which the customer places on the bottle.The entrepreneur must now determine where to locate the machines by studying the market and then grouping outlets on the basis of her research findings.This is an example of the _____ segmentation approach.

The best-known psychographic segmentation called _____,was originally developed in the 1970s.

Which of the following statements is true with regard to a positioning map?

In which of the following situations is it appropriate for a firm to become a mass marketer?

World Explorer Cruises advertises that it sells "Cruises for your heart,mind and soul.Even better,it comes in a pint-sized budget!" What segmentation is the cruise line using?

What does psychographic segmentation focus on?

Which of the following is the first step of the market segmentation process?

Benefit segmentation is clearly a _____.

Which of the following statements about market segmentation is true?

What is a marketable segment?

In which of the following stages does a firm decide not to enter the market after conducting a suitable analysis of the viability of the market?

What does "VALS" stand for?

Altron Herbals is trying to market a new sunscreen lotion.In order to find out which segment of the market they should target,they have prepared a questionnaire that asks potential consumers about lifestyles,especially their activities,interests,and opinions.Based on their answers,the consumers are grouped into separate categories.Which of the following market segmentation approaches has Altron used in this scenario?

Johnson & Coleman has created a new line of premium quality writing desks.The desks are being marketed to consumers who value knowledge and principles.According to the VALS™,which of the following psychographic groups would the writing desk appeal to the most?

According to the VALS™ framework,the _____ are consumers who are change leaders and are most receptive to new ideas and technologies.

According to the VALS™ framework,consumers who are driven by a goal of demonstrating success to their peers and are motivated primarily by achievement can be best classified as _____.

Bill is a carpenter who loves his job.Even when he is not working,he spends his time designing and building furniture and bookshelves for his own home.While not thrifty,Bill does not care much for material possessions and considers his job to be an act of self-expression,rather than a mere occupation.According to the VALS™ framework,which of the following psychographic groups does Bill belong to?

According to the VALS™ framework,consumers driven by knowledge and principles are motivated primarily by _____.