Exam 8: Market Segmentation, Targeting, and Positioning

What is the product-related segmentation of consumers that is based on the strength of their attachment and allegiance to their preferred products?

A common method of developing psychographic profiles of a population is to conduct a large-scale survey that asks consumers to agree or disagree with several hundred AIO (Activities, Interests, and Opinions) statements.

What is a firm practising when it chooses to target potential customers by postal code, specific occupation, or even lifestyle?

Most Chinese Canadians come from the same areas of the world and share similar shopping habits.

The VALS theory measures two variables-an individual's resources and self-motivation-and plots them on a grid of eight defining personalities.The assumption is that each of the eight personalities will exhibit a certain type of buying behaviour.

When analyzing the toothpaste market, there are products that control tartar, fight cavities, freshen breath, and whiten teeth.It is correct to say the toothpaste market is utilizing product positioning.

What greatly attributes to the Canadian population growth and change in Canada's racial and ethnic make-up?

Children can have a significant impact on household food purchases, while tweens can influence the purchase of cell phones and automobiles.

Consumer products are items purchased by consumers or businesses to be used in their homes, offices, or factories.

A marketer segmenting by family life cycle will focus on age as the major determinant of consumer purchases.

In Canada, the three largest groups, which account for 75 percent of those indicating an ethnic category are Chinese, South Asians, and Blacks.

The most expensive way to market is undifferentiated marketing because a company is spending a large amount of promotional dollars to reach a vast audience, the majority of whom might not be interested in purchasing the product.

What are marketers who apply a positioning strategy wanting to do?

Generally speaking, what are rubber and raw cotton examples of?

What factor sets the upper limit on demand generated by a particular market segment?

Montreal is the largest city in Canada in terms of population due to the large number of immigrants who have settled there.

Product-related segmentation focuses on such attributes as product availability and common use.

A marketer that develops a profile of the typical customer that includes information about lifestyle patterns and product-use habits is in the stage of the market segmentation process in which market potential is forecasted.

What does age segmentation tell a researcher about marketing opportunities? List the major age segments, and describe the buying characteristics of each segment.

Gourmet products are more likely to be successful when a concentrated marketing strategy is employed.