Exam 8: Market Segmentation, Targeting, and Positioning

Baby boomers are decreasing in popularity as a market segment due to their declining disposable income.

The management-driven method of identifying market segments asks customers which attributes of a product are important to them and clusters responses to identify potential segments.

How might business products be identified?

Which of the following is NOT a life-cycle stage?

Identify the six psychographic consumer segments worldwide, as defined in the VALs framework.In what countries are these groups typically found?

Kim's Egg Rolls were long promoted as a Chinese dinner item.However, when the product was evaluated by consumers, research showed they were seen as snacks, not mealtime items.The company decided to change its packaging and advertising to advocate the idea of egg rolls as an afternoon or midnight treat.This is an example of repositioning a product.

What is the largest segment that values professional and material goals more than other groups?

Targeting a large number of small, niche markets can be an expensive, complex, and inefficient marketing strategy.

When Chevy advertises that its Suburban truck is "Like a Rock," Chevy is positioning the Suburban according to a product class strategy.

According to Jacques Bouchard, compared to the rest of Canada, Quebecers have a higher tolerance and crave the simple life.

A company is advertising a new cordless shaver during the Grey Cup and NHL telecasts, enabling the cordless shaver to become a big success.What was the MOST likely market segmentation strategy used?

Residence location within an area is an important geographic segmentation variable.

What type of segmentation divides a population into groups with similar psychological characteristics, values, and lifestyles?

What are goods and services purchased by the ultimate user for personal use called?

While researching the idea of opening his own health club, Tomas learned that 90 percent of health club members are between the ages of 18 and 49.They prefer to exercise with people of their own gender, are more likely to buy foreign-brand cars, and are urban dwellers.How can Tomas use this assembled information?

Why would a marketer be interested in understanding a person's family life cycle stage? Give an example.

How can Chinese Canadian consumers be described?

The average household size in Canada has shrunk to a new low of five people.

What is the basis for determining whether pencils are consumer products or business products?

Demographic segmentation is also sometimes called psychographic segmentation.