Exam 9: Market Segmentation, targeting, and Positioning

CoreLogix Inc.,has segmented the market as per product usage rates.They have also developed the relevant profile for each of their segments.What would be the next logical step for them in this process of segmentation?

The cohort effect describes:

Division of the total market into smaller,relatively homogeneous groups is known as market optimization.

Targeting a large number of small markets can produce an expensive,complex,and inefficient marketing strategy.

Very few residents of a micropolitan statistical area commute outside the area.

Socioeconomic market segmentation is another name for _____ segmentation.

A frequent flyer program used by an airline is an example of _____.

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 -A(n)_____ describes various activities,interests,and respondent's opinions that allows researchers to develop lifestyle profiles.

_____ is the largest metropolitan area in the world.

When a product is used in the production of another good that is destined for resale,the product is considered as a(n):

A positioning map:

Engel's laws state that,as household income increases:

Children exert considerable influence over household food purchases.

American Express,a large firm with many financial products,recently introduced two new credit cards designed for very specific markets: The Knot,for engaged couples,and The Nest,for newlyweds.This is an example of _____ marketing.

A firm that chooses to target potential customers by zip code,specific occupation,or even lifestyle is said to be practicing:

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 -A product that is purchased for use in the production of other goods and services for resale is called a(n)_____.

Five years ago,Joshua spent 28 percent of his $45,000 yearly income on his bachelor apartment.Today,Joshua is earning $60,000 annually.According to Engel's laws,the percentage of income he will spend on his new apartment will be:

​Barnes and Noble ​encourages customers to pay $10 annually to become "members" in a loyalty program which rewards them by discounting their purchases.Barnes and Noble utilizes the membership program to analyze customer buying habits and routinely recommends books,magazines or other products which fit their purchasing profile.What type of marketing is Barnes and Nobles using?

_____ are computer systems that help marketers analyze marketing information by assembling,storing,manipulating,and displaying data by their location.

Jacob is the facility manager for a senior living facility and is responsible for maintaining the facility and ensuring that it looks its best.He likes to repaint all surfaces in the facility every two years and has an exclusive contract with Sherwin Williams who supplies the paint and materials.The paint and materials that Jacob purchases from Sherwin Williams to be utilized in the senior living facility would be classified as _____ products.