Exam 6: Segmentation, Targeting, and Positioning

Stella makes a living by designing jewellery for her customers.She interviews each customer to understand his or her specific needs and then designs the jewels accordingly.Each piece of jewellery is unique.This is an example of:

An automobile ad is created in such a way that it appeals to people who value individuality.The company aims at grouping customers based on their personality characteristics.This is an example of:

Cramwool Inc., an apparel company, targets several market segments with a different offering for each.Explain the segmentation strategy Cramwool is using.

Telaware promoted itself as a single-stop office supply superstore where people could buy everything for their offices under one roof.Telaware soon found that the marketplace was crowded with retailers offering the same.Therefore, it decided to change the way it projected itself.It now differentiates itself from other retailers by promising customers an easier shopping experience.This is an example of:

Which of the following is part of the vertical dimension as established by VALS™?

Of the various methods for segmenting consumers, which of the following is the one that delves into how consumers describe themselves?

Undifferentiated targeting is the most effective strategy for smaller organizations.

Explain how the psychographic system VALS™ classifies customers.

Demographic segmentation refers to the segmentation of consumers based on:

An upscale restaurant that previously flourished on expense account dinners and corporate events has also started stressing value as a sales tool.This is an example of:

Which of the following is true of positioning?

Marketers can track and compare sales performance among various clusters in different locations with the help of PSYTE and PRIZM CE, which are:

You are a product manager in a pharmaceutical company.You have developed a new drug to treat a particular terminal illness.How, as a manager, would you segment, target, and position the market for the pharmaceutical company? How would you position the new drug?

The Canadian Wireless Communication is a $50 billion industry.The number of Canadian cell phone subscribers exceeds 30 million, as of Q3 2016.Use segmentation grid and define at least three segments for this industry.

Demographic variables are often used for segmenting markets because it is relatively easy to gather demographic information.

Market positioning involves a process of defining the marketing mix variables.

The concept of being responsive as a prerequisite for market segmentation refers to the fact that:

Revolve Inc., a car manufacturing company, launched a new car in the market. It promoted the car as a high-price, high-quality, and high-performance vehicle. The car was aimed at high-income customers. The tagline read, "Suite on Wheels" emphasizing the luxury and comfort provided by the car while travelling. Despite all the promotions, the car did not attract the kind of customers the company had hoped to attract. Therefore, to revive interest in the car, Revolve started offering the vehicle at a lower price, aiming it at the middle-income segment. Revolve came up with a new tagline: "A jet at a cab's price." -Revolve first promoted the new model as a luxury car for the premium segment.This is called:

In a certain Canadian province, an area is populated by young Haitians who are mainly blue-collared workers as they are unskilled manual labourers.They are not highly educated and live in rented apartments.However, some Haitians who are college graduates also inhabit this low-income area.They are white-collar workers as they have desk jobs.Even though there is a difference in income, both the blue-collared workers and white-collared workers share the same lifestyle.A company that develops products to serve both groups of people is using:

Mary plans to open a store in a small town north of Ontario to sell apparels, bags, and shoes.The primary target market that she considers is females between age of 15 and 50 who live close by and are taller than 6.5 feet (about 2 meters).What is the main issue with this segment?