Exam 4: Focusing Marketing Strategy With Segmentation and Positioning

Making a very specific marketing mix for a particular group is always less profitable than a more general marketing mix that appeals to a larger segment.

A _____ is a relatively homogeneous group of customers who will respond to a marketing mix in a similar way.

A "substantial" market segment is one which is big enough to be profitable.

Segmenting international markets (as contrasted with domestic markets):

A ______________ market is a market with broadly similar needs and sellers offering various--and often diverse--ways of satisfying those needs.

Which of the following types of dimensions would be the most important if one were particularly interested in why some target market was likely to buy a particular brand within a product-market?

Marketing-oriented managers think of segmenting as a disaggregating process.

In the example for the 7-step approach (discussed in the text), the "long-stay guests" and the "event-centered visitors" should be combined because both groups will likely be at the motel for an extended period of time.

Jazzy Tile Co. segmented its broad product-market and decided to aim at two different segments, offering each segment a different marketing mix. Jazzy Tile Co. is following the ______________ approach.

When segmenting broad product-markets, cost considerations tend

James is a prospective car buyer. In his context, which of the following statements would reflect a determining dimension?

A product-market is one in which

When deciding how far to carry the segmenting process,

The main difference between a "product-market" and a "generic market" is whether customer needs are similar or different.

In the seven-step approach to market segmentation

Identify the INCORRECT statement about approaches to market-oriented strategy planning.

Which of the following criteria should a marketing manager use when segmenting a broad product-market?

In the seven-step approach to market segmentation

In the seven-step approach, the basic comfort needs (heating and cooling, a good bed, a clean bathroom) and other needs like a telephone and safety/security are the determining needs.

Market segmentation is a two-step process that involves naming broad product-markets and segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.