Exam 15: Segmenting and Targeting Markets

H&R Block launched a $100 million marketing campaign to parlay the company's intimate knowledge of 20 million customers' finances into other services like mortgages and investment advice.Block has great brand recognition,but consumers only care about it four months out of the year.H&R Block is attempting to _____ itself to make people think of it as a company offering services year-round.

Elaine perceives Cadillac automobiles to be for older men,not for young professional women such as herself.Elaine's perception represents Cadillac's _____ in her mind.

Wine Spectator is a magazine that targets people who appreciate good wine and food.However,the discriminating reader of this magazine is also interested in travel and health,so the magazine features travel and health-related stories.This publication relies on _____ variables to identify its target market.

Which of the following is NOT an advantage of an undifferentiated marketing strategy?

The place a product,brand,or group of products occupies in consumers' minds relative to competing offerings is referred to as a product's:

Piper Corporation makes aircrafts.It produces several different planes for three categories of customer: Professional,Personal,and Trainer.What type of targeting strategy is Piper using?

When Procter & Gamble (P&G)introduced Liquid Tide to a new segment,consumers in the traditional powdered detergent segment switched to the liquid product.Rather than real sales growth,P&G simply experienced the shifting of existing customers to a new product.This exemplifies a drawback of multisegment targeting strategy called:

Miller Lite's long-running "Great Taste...Less Filling!" advertising campaign was ranked by Advertising Age magazine as the 8th-best advertising campaign in history.Miller Lite was using _____ segmentation in this ad campaign.

In Baton Rouge,Louisiana,everyone who is anybody in society can't wait to get a copy of 225 magazine.The magazine is targeted to the upper middle and upper classes in Baton Rouge and features articles on how they work and play.The editor of 225 magazine is relying on _____ segmentation.

Consumers' perceptions regarding a product's position cannot be changed.

What is geodemographic segmentation? What is the result of geodemographic segmentation? Give one specific example that illustrates this type of segmentation.

What is the first step in segmenting a market?

_____ divides individuals into groups according to the way they spend their time,the importance of items in their surroundings,their beliefs,and socioeconomic characteristics.

Mercedes-Benz Daimler AG, the maker of Mercedes-Benz automobiles, is planning to launch a new line of downsized luxury vehicles in the United States by 2012. Daimler has experienced a recent drop in global sales attributed to its product mix that focuses on larger luxury automobiles. With increasing fuel prices and stricter U.S. fuel-economy standards coming down the pipeline, Daimler doesn't want to be left behind. Daimler is behind its competition, though. Its German rivals, Audi and BMW, have been relatively successful in the United States. BMW's Mini Cooper, demanding as much as $34,000, has already driven away with some of Daimler's potential sales. While Daimler already offers the Smart car in the United States, the new offerings will not be going after the same consumers. -Refer to Mercedes-Benz.Baby boomers have money to burn and will be the primary target for the downsized luxury vehicles offered by Mercedes.Many of them will want this type of car to feel young again.This group is considered a(n):

In the United States,women tend to be the key household decision-makers for many products,such as home furnishing purchases,vacations,and autos.

_____ is the process of grouping customers into market segments according to the benefits sought from the product.

Turkey Hunting Equipment Around the beginning of fall each year, about 2.7 million turkey hunters all over the United States start looking at catalogs for the perfect item to guarantee that this year they will kill a wild turkey, the most elusive game bird in North America. The devoted turkey stalker can stock up on everything from camouflaged turkey hunting socks, turkey license plate holders, vests with huge pockets for toting dead birds, and hunting videos to turkey decoys, turkey earrings, and turkey callers. Neil Cost is considered the best manufacturer of turkey callers in the world. It is his only product, and each is highly prized by turkey hunters. It is not unusual for a turkey hunter to pay $5,000 for one of Cost's callers. -Refer to Turkey Hunting Equipment.Given that the wild turkey hunters number approximately 2.7 million,it meets the segmentation criterion of:

Discuss the advantages and disadvantages of single-variable segmentation and multiple-variable segmentation.

For years,fryer chickens sold in grocery stores were perceived to be a rather generic product--one brand of chicken was much like another.Then Frank Perdue began an advertising campaign to tell consumers that his brand of chicken was more tender,therefore a better choice.Perdue brought _____ to the marketing of fryer chickens.

Altria Group,Inc.'s Phillip Morris failed at an attempt to target Americans looking for a potentially safer cigarette.This market exhibits a lack of: