Exam 4: Focusing Marketing Strategy With Segmentation and Positioning

A ____ is a group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services.

When a hotel chain asks one of its new customers to specify the preferred location of his room, what type of pillow he likes, and his credit card information, and then stores this information in a database to use the next time this customer reserves a room online, what target market approach is this chain using?

A market is a group of competitors selling similar products.

Planning place and promotion elements of a marketing mix is especially difficult if the dimensions of a product-market are not operational.

Which of the following is a DEMOGRAPHIC segmenting dimension?

A generic market description includes customer needs and product-type terms.

In the example for the seven-step approach to market segmentation (used in the text), which of the following is a qualifying need?

Having segmented its market, the Martinez Corp. has decided to treat each of two submarkets as a separate target market requiring a different marketing mix. Apparently, Martinez is following the _________ target market approach.

Segmenting dimensions

A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.

____ dimensions actually affect the customer's purchase of a specific product or brand in a product-market.

In the seven-step approach to market segmentation, it is best to narrow down to smaller product-markets BEFORE identifying the needs of all potential customers.

Positioning issues are especially important when competitors in a market appear to be very similar.

Which of the following is a BEHAVIORAL segmenting dimension?

Combiners

According to the text, segmenting should be viewed as a(n) ______________ process.

In the seven-step approach, submarkets are nicknamed based on the qualifying dimensions and a description of the customer types.

"Positioning" means using a map to show where a firm's products are distributed geographically.

When you are "in the market" for a new car, and are considering different brands to purchase, what type of market is involved?

In the example for the 7-step approach (used in the text), it's important to consider what people in each segment do NOT want as well as what they do want.