Exam 4: Focusing Marketing Strategy With Segmentation and Positioning

The clustering techniques that can be used in segmenting:

Which of the following offers a firm the greatest potential for profit?

A large firm with ample resources wants to minimize the risk of "inviting" competitors to "chip away" at its target market(s). It has segmented its broad product-market and identified several homogeneous submarkets--each of which is large enough to offer attractive sales and profit potential. Which of the following approaches should the firm use?

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

A "good" market segment should be composed of people who are as homogeneous as possible with respect to their likely responses to marketing mix variables.

The example for the seven-step approach (discussed in the text) uses apartment buildings in cities with large student populations as its broad product-market.

Sanders Beverages, Inc., is targeting non-juice drinkers with a new line of healthy fruit juices. Identify the segmenting dimension most likely being used by Sanders Beverages.

A firm involved in international marketing should pay even more attention to segmenting than a firm that sells only in the United States.

The seven-step approach encourages the use of a market grid (a rectangle with boxes inside) to represent smaller, more homogeneous submarkets.

Marketing managers want market segments to have each of the following characteristics EXCEPT:

Which of the following is LEAST LIKELY to compete in the same generic market with the others?

A returning customer to a hotel chain books a room online. When she arrives, she finds that the hotel has used its database of previous customer preferences to assign her a room on the top floor with the type of pillow she prefers. What target market approach is this chain using?

______________ is a marketing management aid which refers to how customers think about proposed and/or present brands in a market.

With the "multiple target market approach" the marketer combines two or more homogeneous submarkets into one larger target market as a basis for one strategy.

Clustering is a technique that divides a large group of people into smaller groups, so that each small group is as diverse as the large group from which it was formed.

Which of the following possible segmenting dimensions is a "demographic" dimension?

_____ refers to how customers think about proposed or present brands in a market.

The seven-step approach is a "best practice" approach to the ideas discussed in Exhibit 2-9.

Step 2 in the 7-step approach to market segmentation asks you to identify all the potential customers' needs for the broad product-market you named in Step 1.

The seven-step approach to market segmentation begins to consider whether a particular group can be profitable to the firm in Step 1--and that is a major consideration throughout all seven steps.