Exam 8: Market Segmentation, Targeting, and Positioning

A positioning map provides a valuable tool to help position products by graphically illustrating consumers' perceptions of competing products within an industry.

What is a positioning map? How does the map assist a firm with repositioning decisions?

Marketers have labelled people who were in the 17-22-year-old age bracket at the time of the September 11, 2001 terrorist attacks the 9/11 Generation.

One of the difficulties of demographic segmentation in international markets is that many countries do not have a scheduled collection of census data.

The Southeast Asian group is the largest ethnic group in Canada.

How would a geographic area surrounding an urban core with a population of at least 100 000 be classified?

A hotel purchases towels for use in its rooms.These towels are considered business products.

What strategy is a company using when they choose to focus its efforts on satisfying only one market segment for profit?

United Way would NOT benefit from implementing market segmentation techniques because such techniques are inappropriate for not-for-profits.

To be considered a census agglomeration (CA) the geographical area must have a population greater than 100 000.

Identify the steps in the market segmentation process.

Business products are defined as contributing directly to the production of other goods.

What is the basis for a positioning strategy that uses the slogan "Crest is a cavity fighter"?

By identifying, evaluating, and selecting a target market to pursue, marketers are able to develop more efficient and effective marketing strategies.

Some industries that might benefit from the empty-nester life cycle are the travel, restaurant, and automotive industries, along with vacation real estate and institutions of higher education.

One product class that has been successful with undifferentiated marketing strategies has been magazines.

The 80/20 principle holds that a small percentage of loyal customers generate the bulk of sales.

Marketers can create a competitive positioning map from information solicited from competitors or from public databases that track consumer attitudes, opinions, and interests.

The trend of couples living common-law is the strongest in Quebec.

The success of the market segmentation process depends heavily on a company's ability to use forecasting methods.