Exam 8: Market Segmentation, Targeting, and Positioning

A market-product grid is a framework to relate the market segments of potential buyers to

The Zappos segmentation strategy is based on

Model E is a new type of car manufacturer that relies on the Internet ordering. "Think of Model E as the Dell of the auto industry. We design just a few products that consumers truly want, leveraging best-in-class components and micro-factory approaches for rapid design, launch, and direct delivery," said William Santana Li, president and CEO of Model E. Model E manufactures each car when a customer chooses from a limited number of options and orders. Model E relies on

The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as

A relatively homogenous group of prospective buyers that results from the market segmentation process is referred to as a(n) __________.

To effectively positioning 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.

Small athletic shoe manufacturers such as Vans have targeted niche markets and make shoes designed to satisfy the needs of different specific groups of customers. This strategy is an example of

When Ann Taylor, a well-known retailer of sophisticated women's clothing, started losing sales to its own LOFT outlets that feature moderately priced casual clothes, Ann Taylor was dealing with the marketing phenomenon known as __________.

To effectively positioning a product or brand, companies take four steps: (1) identify the important attributes for the product or brand class; (2)__________; (3) discover where the company's product or brand is on these attributes in the minds of potential customers; and (4) reposition the company's product or brand in the minds of potential customers.

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as

A market-product grid is a framework to relate the __________ to products offered or potential marketing actions by an organization.

To be identified as a market segment, members of the group must

Suppose marketers want to use product differentiation and market segmentation strategies. What question should they ask when considering the potential for cannibalization with these strategies?

Apple's iPhone has a feature known as Apple Pay that lets you use your phone to pay for credit purchases, meaning you could leave your wallet at home. This feature sets the smartphone apart from its competitors and is part of Apple's strategy for

The fifth step in segmenting and targeting markets that link customer needs to marketing actions is to __________.

The fourth step in segmenting and targeting markets that link customer needs to marketing actions is to __________.

A perceptual map enables a manager to see how __________ perceive competing products or brands, as well as the firm's own product or brand.

Evergreen Air Center in Marana, Arizona, is the world's biggest parking lot for unwanted commercial aircraft. Airlines pay from $750 to $5,000 a month for its storage service. The warm, dry air where the operation is located serves as a cheap and effective airplane preservative. Which segmentation variable might Evergreen use to segment the market?

All of the following are criteria used for forming market segments EXCEPT:

There are five key steps in segmenting and targeting markets, which link market needs of customers to the organization's marketing program. List these five key steps.