Exam 8: Market Segmentation, Targeting, and Positioning

In addition to population and geography, a researcher might combine other indicators to segment markets geographically.Of the indicators listed, what would marketers be LEAST likely to use?

What is another name for socioeconomic market segmentation?

Goods and services generally purchased by manufacturers are classified as business products.

Historically, Nivea skin care products were marketed and sold exclusively to women.A new product line called Nivea for Men has been recently introduced and is targeted to men and is considered differentiated marketing.

Demographic segmentation was, at one time, the most common type of market segmentation method.However, technological advances have made it less common today than other forms of market segmentation.

Firms define core regions as the locations where they obtain between 40 and 80 percent of their sales.

When can product-usage segmentation be an important tool for marketers?

Compared to women, men have greater influence and purchasing power when it comes to product categories like electronics and home improvements.

Give examples of how each product listed can be classified as either a consumer and/or business product. A) shampoo B) steel bars for concrete reinforcement C) lawn mower D) computer E) automobile

The fact that food industry manufacturers are downsizing products and offering more single-serve foods is due to the increase in the number of same-sex couples.

According to Ernst Engel's laws, the percentage of income spent on food rises with increased income.

What would be the best choice of product to market using an undifferentiated marketing strategy?

One of Engel's laws says the percentage spent on housing, household operations, and clothing remains constant.In recent years, however, this has been challenged.In fact, the percentage of income spent on these items has increased over the years.

Concentrated marketing disperses the firm's marketing effort among several segments and an upturn in demand in one segment can negatively affect sales in another.

In terms of numbers, which age group is the largest?

Compared to a century ago, the average woman gives birth to fewer children and waits until she is older to have them.

What is psychographic segmentation based on?

What does a positioning map demonstrate?

Why is segmentation by benefits used?

What marketing strategy does Burt's Bees skin-care products, manufactured with all natural ingredients, use?