Exam 8: Segmenting, Targeting, and Positioning

When making a purchase, satisficers consider numerous suppliers, solicit bids, and study all proposals carefully before selecting one.

Which of the following divides individuals into groups according to the way they spend their time, the importance of items in their surroundings, their beliefs, and socioeconomic characteristics?

What is the purpose of market segmentation?

What is one-to-one marketing? What is the primary goal for companies that adopt the one-to-one marketing approach?

The business market consists of four broad segments. What are these segments?

Recent research of cell phone features (e.g., calendar, push-to-talk, text messaging) has been completed and organized. The information has axes ranging from low- to high-technological advancement and from high-entertainment to high utility to show how the products are perceived by consumers and is done in two-dimensions. Which of the following describes how the data were plotted?

NASCAR racing fans are some of the most diverse and loyal fans in the world. They will stand in the pouring rain, the freezing cold, or the blistering heat for hours to shake the hand and get the autograph of a NASCAR super driver. These fans are not concentrated in any one area, but are dispersed throughout the United States and Canada. Which type of segmentation would be most effective to determine a target market for a website designed to market NASCAR memorabilia?

Which type of segmentation do magazines such as Martha Stewart Living, Better Homes & Gardens, and other magazines targeted to people who are interested in improving their personal spaces rely on?

Dynamic segmentation approaches adjust to fit the changes that occur in customers' lives.

Candace makes and markets Festive Holiday Truffles candy. Candace views the world as one big market with no individual segments and tries to reach it with only one marketing mix. Her essentially mass-market philosophy indicates she probably uses which strategy?

In Miami, the most popular Cuban radio station starts broadcasting in Russian for two hours daily to reach the 300,000 Russian-speaking people who live in South Florida. What type of segmentation is the radio station using?

To be useful, a segmentation scheme must produce segments that meet four basic criteria. Name and briefly describe each of these four criteria.

A market is people or organizations with needs or wants and with the ability and the willingness to buy.

If you wanted to introduce a magazine devoted to providing information on how to live off the land in Canada, you would be likely to target western Canadian men who have a strong need for individualism and limited government regulations. In other words, you would probably use which type of segmentation?

What do marketers use to segment markets because this information is widely available, and factors such as age or gender are often related to consumer purchasing and consumption behaviour?

What is psychographic segmentation? Why do marketers use psychographic segmentation? List four psychographic variables commonly used as segmentation bases.

Name and briefly describe the stages that Tybout and Sterthal suggest that must be followed to create a positioning statement.

One of the forces influencing the growth of one-to-one marketing is more demanding and time-poor consumers.

Ad campaigns by Aleve pain reliever emphasize the fact that to get the same relief offered by one Aleve, you would need to take six aspirin or Tylenol. Which positioning base are these promotions using?

What are the four criteria necessary to define a market?