Exam 9: Market Segmentation, Targeting, and Positioning

FIGURE 9-4 -Figure 9-4 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.Operations and production synergies and efficiencies run __________.

Market segmentation is only a means to an end.In economist's terms, market segmentation relates supply (the organization's marketing program) to demand (__________).

FIGURE 9-7 -There are five key steps in segmenting and targeting markets, which link market needs of customers to the organization's marketing program.Using Figure 9-7, identify the five-step process in the proper order starting with step 1.

Airlines have developed frequent-flier programs to encourage passengers to use the same airline repeatedly.This technique uses

Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as

A marketing manager must be able to put a market segmentation plan into effect.This means being able to recognize the characteristics of potential buyers in a market and then __________ without encountering excessive costs.

Market segmentation involves aggregating prospective buyers into groups that (1) will respond similarly to a marketing action and (2)

Many companies have cut travel budgets, so that very few business people are authorized to fly first class.Despite the shrinking pool of business-class travelers, British Airways (BA) has grown market share for its transatlantic business class by offering greater comfort.Promotions to frequent fliers stress that passengers can sleep in fully reclining seats and arrive refreshed to carry out a full day's schedule.BA's strategy is an example of

What are the three types of data needed from consumers to develop a perceptual map?

Segmentation based on some observable actions or attitudes by prospective customers-such as where they buy, what benefits they seek, how frequently they buy, and why they buy is referred to as

The axes on a perceptual map are

Explain what a market-product grid is and how it is used.

Which of the following statements regarding market segmentation is most accurate?

FIGURE 9-5 -In the Apple market-product grid shown above in Figure 9-5, for its PCs, the "iMac" is popular among all the segments Apple can target.This allows Apple to enjoy __________.

A basic test of the usefulness of the market segmentation process is whether it leads to tangible marketing actions that can

The third step in segmenting and targeting markets is to __________.

Name Maker is an online company that sells high-end gift wrap printed with custom slogans.A customer can have gift wrap printed with the name of the person celebrating a birthday or the folks who are getting married.This made-to-order gift wrap is priced from $24.95 to $32.95 per 12-foot roll.This is an example of

Which of the following statements regarding market segmentation is most accurate?

Street & Smith publishes the same baseball magazine with exactly the same stories but with 16 different covers to appeal to baseball fans in 16 different regions of the U.S.Four samples are shown in Figure 9-2 above.What is the market segmentation strategy?

To create a __________ strategy, nikeid.com allows customers to visit its Web site and design a sneaker to their own personal specifications.