Exam 9: Market Segmentation, targeting, and Positioning

Match each item with the correct statement below. a.target market b.market segmentation c.cohort effect d.primary metropolitan statistical area e.differentiated marketing f.concentrated marketing g.micromarketing h.positioning map i.VALS j.AIO statement k.core region l.consumer product m.demographic segmentation n.Pareto's law o.psychographic segmentation p.geographic information systems q.positioning r.geographic segmentation s.business product t.mass marketing -_____ is a psychographic segmentation system that divides consumers into eight psychographic categories based on resources and self-motivation.

Psychographic segmentation divides a population into groups based on:

What is geographic segmentation? How is it useful for marketers?

Bose has developed a new high fidelity line of speakers and is attempting to determine the amount of sales that could be generated by target customers in various segments in order to determine whether or not they should proceed with introduction of the new speakers.Which step of the marketing segmentation process best describes this activity?​

​You've started a business on your college campus to sell luxurious blue dorm room rugs with the college logo.You plan to target male freshmen who come from local towns,like the color blue,can afford luxury products,want rugs for their rooms,and are enthusiastic about boosting the school.You can easily and efficiently promote to all freshmen,including this segment,with Facebook and other social media tools.But your marketing professor cautions that you may be unable to meet certain criteria for effective segmentation.Which criteria does she cite?

As compared to undifferentiated marketing,applying a micromarketing strategy allows companies to reach larger markets.

Families,bachelors,and retirees could be considered separate market segments for a company promoting travel packages.

You have just been promoted to vice president of marketing for your firm.Unlike your predecessor,you believe the firm can increase its sales in a market by focusing on more than one segment of the market.You recognize that doing this means your firm will incur higher production costs.Based on this information,which of the following targeting strategies are you advocating?​

Engel observed that the percentage of income spent on household operations and clothing remains constant even when the household income increases.

Match each item with the correct statement below. a.target market b.market segmentation c.cohort effect d.primary metropolitan statistical area e.differentiated marketing f.concentrated marketing g.micromarketing h.positioning map i.VALS j.AIO statement k.core region l.consumer product m.demographic segmentation n.Pareto's law o.psychographic segmentation p.geographic information systems q.positioning r.geographic segmentation s.business product t.mass marketing -The concept of _____ refers to placing a product at a certain point or location within a market in the minds of prospective buyers.

Cecile is an avid cook and enjoys spending time in the kitchen as well as watching shows on the Food Network.She recently remodeled her kitchen and purchased new appliances.Since she enjoys cooking so much,Cecile purchased a commercial range from a local restaurant supply store and it features double ovens and 12 burners.Her contractor had to make some modifications to enhance the safety of this stove for use in her home but no other changes were needed.What type of product is the stove in the context of this example?

The VALS system divides consumers into _____categories.

Oscar Mayer,a maker of various meat products,introduced Lunchables,a product specifically aimed at children.This is an example of:

Starbucks recently faced criticism for changing the way consumers could earn free food and beverage in its loyalty program.Originally,consumers could earn 1 star for each purchase - regardless of dollar value spent.However,the new program ties the star benefit to the dollar amount spent by a customer - rewarding those who spend more with more points.The Star program is frequently utilized by Starbucks to entice its members to return to the outlet.The company utilizes e-mail and in-app promotions to maintain an loyal following.What type of segmentation is Starbucks utilizing with its Star rewards program? ​ ​

Core based statistical areas (CBSA)are comprised of metropolitan and micropolitan statistical areas.

Differentiate between a consumer product and a business product.Give examples.

A technology company that makes computers for professional use is trying to segment its customers.The company asked some professional computer users to evaluate the importance of various computer attributes that influence their purchase decisions and then used this data to segment the consumers based on similar response patterns.This is an example of segmentation by:

According to Engel's laws,the percentage of income spent on food increases with increased income.

​Market segmentation has interested you ever since your first marketing course,and you want to work for the type of organization that uses this technique.This means you should avoid pursuing a job with:

Which of the following is not one of the motivations used to classify consumers in the VALS framework?