Exam 9: Segmentation, Targeting, and Positioning

Which of these is not one of the main components of a value proposition?

A value proposition compares the price of a product to its benefits.

Kim's Kayak Tours initially identified active retirees living in the retirement community nearby as one of its target markets.Kim then tailored her service and marketing message to the interests and schedules of that audience.Kim initially used __________ segmentation and then used __________ segmentation.

__________ involves defining the firm's marketing mix variables so that target customers have a clear,distinctive,and desirable understanding of the firm's offerings relative to competitors' offerings.

Fiona is looking to expand her pet grooming business and wants to evaluate the profitability of a potential new market.The area she is looking at has 2,000 homes and Fiona estimates that 20 percent of them would be likely to use her service.She charges $45 per grooming and on average customers groom their pets six times a year.Fiona estimates her variable costs to expand her business will be $10 per grooming and her fixed costs are $10,000.How much profit would Fiona make on this new segment?

When firms target several market segments with a different offering for each segment it is using which targeting strategy?

List the steps in the segmentation,targeting,and positioning process.

When Mr.How,a Pennsylvania-based discount lumber and hardware chain,sent snow blowers to its Augusta,Georgia,store in April,it was engaged in

Healthcare Options markets health care aids such as walkers,crutches,and portable oxygen tanks.It is located in a large city with branches in neighboring suburbs.It needed to determine if one of its stores was profitable or if it should close it.What is the formula for determining profitability?

Social networking sites that compete directly with Facebook have a difficult time surviving; however,LinkedIn has survived by focusing on the needs of business professionals,who seek to network with colleagues,share their expertise,post online résumés,and look for new jobs.Write a value proposition for LinkedIn.

The STP process is made up of strategy,targeting,and promotion.

Marco was assigned to help create a positioning strategy for his employer's products based on product attributes.He should consider

Create a positioning strategy for your school's business program.How do you want potential students to view your program?

Positioning strategies generally focus either on how the product benefits the consumer or on how it is better than competitors' products.

Retail store chains often use __________ data to tailor each store's assortment to the preferences of the local community.

The National Hockey League redirected its marketing efforts when a survey indicated that almost 50 percent of hockey fans were female.This is an example of __________ segmentation.

When a marketer adjusts the marketing mix to give customers a clear,distinctive understanding of what the product does,the marketer is engaging in psychographic segmentation.

Ronaldo wants to develop an Internet auction-based business and is working through the STP process.After establishing his objectives,describing potential market segments,and evaluating the attractiveness of each segment,Ronaldo now has to

Beverage companies often use television commercials with images of young people laughing and enjoying themselves on a beach or in a club.These images are designed to appeal to consumers' __________,suggesting "be like me."

Greta is concerned that one of the potential market segments she has identified for her dog grooming service is too small and has too little income to have sufficient buying power.Greta is concerned with whether the segment is