Exam 5: Market Segmentation

Believers, according to the VALS™ model, are:

Which of the following steps of the market segmentation process aids in determining objectives, opportunities, and constraints to be considered when selecting target markets and developing marketing mixes?

Which of the following statements about market segmentation is true?

Thinkers, according to the VALS™ model, are motivated primarily by _____.

Which of the following often brings about an investigation of consumer needs and wants for new or modified products and services?

The process of dividing a market into groups of similar consumers and selecting the most appropriate group(s) for the firm to serve is called _____.

For a segment to be measurable, the firm must be able to measure its:

In the final stage of the market segmentation process, the _____ is developed in conjunction with target market selection.

Identify the step in the market segmentation process that involves focusing on a product's superiority to competitive products based on one or more attributes.

The logic of market segmentation is based on the idea that _____ can seldom meet the needs and wants of all consumers.

According to the VALS™ framework, consumers categorized as Experiencers and Makers are motivated primarily by _____.

Danko Inc. has manufactured a new line of wristwatches that can withstand extreme conditions such as below freezing temperatures. The watches are also waterproof and heat-resistant. The company is marketing these watches specifically to adventurers and extreme sports enthusiasts, such as mountain climbers and scuba divers. Danko positioned its line of wristwatches:

Altron Herbals is trying to market a new sunscreen lotion. In order to identify their target market segment, they have prepared a questionnaire that asks potential consumers about their lifestyles, especially their activities, interests, and opinions. Based on their answers, the consumers will be grouped into separate categories. Which of the following market segmentation approaches has Altron used in this scenario?

According to the VALS™ framework, consumers driven by a desire for social or physical activity, variety, and risk taking are motivated primarily by _____.

According to the VALS™ framework, consumers who are driven by a desire for social or physical activity, variety, and risk taking, and are motivated primarily by self-expression can be best classified as _____.

A company targets a new variant of tea that has a higher content of antioxidants at consumers who are health conscious and want organic food products by retailing them in stores that exclusively sell organic foods. This is an example of a(n) _____ segmentation approach.

The best-known psychographic segmentation called _____, which was originally developed in the 1970s, explains and predicts consumer behavior.

Indie Frost is a website that sells snowboarding gear. A common strategy the website employs is to offer a high discount on one of its products for a short period. The website has found this strategy to have a high success rate since consumers tend to buy the product impulsively due to its low cost. The nature of the website and its marketing strategy suggests that Indie Frost targets the _____ of the VALS™ framework.

What is the function of the Nielsen PRIZM?

The belief underlying the _____ segmentation approach is that the advantages people are seeking in consuming a given product are the basic reasons for the existence of true market segments.