Exam 15: Segmenting and Targeting Markets

Fisher-Price is identifying Asian markets that are interested in their line of talking toys.Fisher-Price is engaged in the process of market segmentation.

Geodemographic segmentation combines geographic,demographic,and lifestyle segmentations.

Wrestling Merchandise Market research has shown that 6- to 17-year-old males, 18- to 24-year-old females, and 18- to 44-year-old males are most likely to watch a televised professional wrestling event or attend a live match. Wrestling events are regularly broadcast in 120 different countries. Merchandise licensed by World Wrestling Entertainment (formerly known as the World Wrestling Federation) can be purchased at JCPenney and Walmart. Clothes for adults are used to reach markets that may not buy action figures, video games, and novelty candy, but who are still proud to sport World Wrestling Entertainment (WWE) trademarks. -Refer to Wrestling Merchandise.The marketing research revealed that _____ segmentation can be used to identify the biggest fans of professional wrestling.

Tower Fasteners developed a commanding position in the fastener industry by having in stock over 150,000 different types of fasteners.Tower's primary market is defined as companies with a need for specialized fasteners.All of the following are characteristics of the buying organization that Tower can use for segmentation EXCEPT:

Chandler Kumar owns two antique stores.One is in an upscale neighborhood,and its merchandise is artfully arranged and priced to indicate product rarity.The other is in a run-down strip mall and contains some of the same type of merchandise,but the items are left in open boxes and placed haphazardly on shelves.Customers of either store have entirely different perceptions of the stores and would be surprised to know Kumar operates each of them because he uses such differing _____ strategies.

The business market consists of four broad segments: producers,resellers,government,and regions.

What is psychographic segmentation? Discuss why marketers use the basis for segmenting markets.

The _____ proposes that a minority of a firm's customers purchase a majority of the volume of the product.

Modern Bride is a publication that contains articles and lots of ads for the bride-to-be.Many young women consult this magazine as they plan their special day.The segmentation base used to define the publication's target market is based on _____ variables.

When asked to name a brand of sports drink,most people will answer Gatorade,and some will respond with POWERade.But people with diabetes who still need to replenish electrolytes lost during activity or illness cannot drink these sports drinks because they are high in sugar and thus cannot be consumed by diabetics.As a result,a manufacturer has developed Champion Lyte,which contains no sugar.The manufacturer of Champion Lyte has used _____ segmentation to identify its market.

A market segmentation study done by the University of Thessaly in Greece classified recreational skiers in terms of their gender,age,and income levels.The study used psychographic segmentation variables.

Dakin Farms in Vermont uses mass marketing.Marketers would call the strategy an undifferentiated targeting strategy.

Define cannibalization.Is it always bad? Explain.

_____ is a method that clusters potential customers into neighborhood lifestyle categories and is a combination of geographic,demographic,and lifestyle segmentations.

Marketers use demographic information to segment markets because it is widely available and often related to consumers' purchasing and consumption behavior.List five common bases used by marketers for demographic segmentation.For each base listed,give an example of a product specifically targeted to the needs and wants of the segment identified within the base.

Mirage Resorts in Las Vegas has a system that allows hotel clerks instantaneous access to a client's gambling history to determine what sort of room or complimentary services will provide the guests with the highest level of service.This is an example of which trend contributing to CRM?

Scott owns Buffalo Mountain Coffee in Deer Park,Ohio..He understands the need to segment his market,and available marketing research indicates there is much demand in the community for unique coffee drinks.However,he has few resources and cannot engage in intensive consumer research to precisely identify a segment.Which of the following strategies would you suggest he employ?

In Miami,several radio stations broadcast in Spanish and play Latin music for the Hispanic people living in South Florida.The radio stations are using _____ segmentation.

The first step in segmenting a market is to choose a basis or bases for segmenting the markets.

A product's positioning could be based on product users.