Exam 9: Market Segmentation Targeting and Positioning

Kellogg's has several cereals targeted at different types of users. This is an example of multiple products aimed at multiple markets. Manufacturing these different cereals is clearly more expensive than producing only one but seems worthwhile if it adds to the manufacturer's sales revenues and profits, doesn't reduce quality or increase price, and

Alka-Seltzer was made originally as a hangover remedy that cured the headache and settled the stomach. Today, you can buy Original Alka-Seltzer, Extra Strength Alka-Seltzer, Alka-Seltzer Morning Relief (for morning headaches and fatigue), and Alka-Seltzer Heartburn Relief. Each Alka-Seltzer product has a unique formulation to relieve a specific malady that makes it more specialized than competing products. The maker of Alka-Seltzer is using a ___________ strategy.

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

To effectively position a product or brand, companies take four steps: (1) identify the important attributes for the product or brand class; (2) discover how target customers rate competing products or brands with respect to these attributes; (3) ___________; and (4) reposition the company's product or brand in the minds of potential customers.

Which of the following statements regarding when and how to segment markets is most accurate?

Explain the difference between mass customization and build-to-order.

What are the four steps to positioning a product with a perceptual map?

Samsung sells a variety of TVs, from simple and small ones to large smart TVs with Internet connectivity and 3-D technology. Customers prefer different features, so Samsung uses which type of segmentation variable based on their viewing preferences?

Region and city size are both variables used to employ __________ segmentation.

Which of the following statements demonstrate the formation of a segment based on household size?

A positioning approach that involves seeking a less competitive, smaller market niche in which to locate a brand is referred to as

All of the following are market segmentation strategies except

Airline programs that encourage passengers to repeatedly use the same airline focus on usage rate and employ a(n) __________ strategy.

Which of the following is a criterion used for selecting a target market?

A relatively homogenous group of prospective buyers that results from the market segmentation process is referred to as

The increased customer value achieved through performing organizational functions such as marketing or manufacturing more efficiently is referred to as

Which of the following is an example of a multiple products, multiple market segments strategy?

Which of the following statements about Zappos is most accurate?

The 80/20 rule suggests that

The O³ technology refers to an innovative tennis racquet Prince Sports developed that simultaneously delivers faster racquet speed and a bigger sweet spot in the middle of the frame. Prince Sports has implemented a __________ strategy with its O³ innovative tennis racquet technology.