Exam 9: Market Segmentation, targeting, and Positioning

​Cadillac has strategically sought to become known as a prestige brand among 30 to 50 year olds and routinely uses television advertising to showcase the high quality and luxury attributes of the new models.It seeks to use _______ to separate the brand from other US brands and be perceived more similarly to European models such as Audi and BMW.

Automobile manufacturers and food processing companies segment a particular geographic region based on the same factors.

Define market segmentation.Discuss its role in developing an effective marketing strategy.

To remain competitive,marketers must accurately gauge their customers and adapt to changing consumer sentiment.Sometimes this adaptation calls for repositioning a product or service.Why might a product or service be repositioned?​

​Bill wants to use VALS to segment the market for his firm's costly but cutting-edge gaming software.He knows that his potential customers are likely to be:

Which of the following is a psychographic category created by the VALS system that categorizes consumers by characteristics that correlate with purchase behavior?

Firms must attempt to group consumers according to the presence or absence of those factors that affect purchase decisions.

The group born between 1968 and 1979,now generally in their early 30s to early 40s are referred to as Generation Y.

When firms identify the factors that affect consumers' purchase decisions and develop strategies and tactics to appeal to specific types or groups of customers,they are practicing market _________.

There are many tools available to a savvy marketer who uses geographic segmentation,including national population data published by the U.S.government.This statistical data is classified as core based,metropolitan,micropolitan,primary metropolitan,and consolidated metropolitan.Select the statement below that best reflects population data published by the federal government.​

Kim's Egg Rolls were being promoted as a dinner item but after a few years the company decided to change their packaging and advertising to promote the egg rolls as evening snacks.This is an example of repositioning a product.

The market segmentation that is based on the stages of the family lifecycle is a form of demographic segmentation.

Married couples enter the "empty nest" stage once their children start living on their own.

Psychographic segmentation is the most common method of market segmentation.

A television commercial shows several enthusiastic teens smiling widely and speaking in turn directly to the camera.Using the featured skincare product has changed their lives! It costs more than what you find in the corner drugstore,but it is worth every penny! After weeks of trying one product after another,embarrassed by acne breakouts and shy about socializing with others,now they have clear faces with a healthy-looking glow! What form of product-related segmentation has driven the development of this marketing campaign?​

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)_____ is a specific segment of consumers a firm believes is most likely to buy its goods and services.

Marketers adopt different strategies in order to promote their products in the market.But what is a market? Select the best definition of market from the choices below.​

_____are those born between 1946 and 1964 and are a popular segment to target because of their numbers and income levels.

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 geographic area that generates 40 percent to 80 percent of a company's sales is called a(n)_____.

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 firm that promotes numerous products with several marketing mixes designed to satisfy smaller target segments is said to practice _____.