Exam 9: Market Segmentation, Targeting, and Positioning

One approach to positioning a new product in a market is __________ positioning,which involves competing directly with competitors on similar product attributes in the same target market.

Market segmentation involves aggregating prospective buyers into groups that (1)__________ and (2)will respond similarly to a marketing action.

A key to positioning a product or brand effectively is discovering the perceptions of its potential customers.In determining its positioning in the minds of customers,companies take four steps: (1)identify the important attributes for the product or brand class; (2)discover how target customers rate competing products or brands with respect to these attributes; (3)___________;and (4)reposition the company's product or brand in the minds of potential customers.

Some Timex wristwatches can be purchased for less than $30 while some Rolex wristwatches carry a price tag of several thousand dollars.In general,consumers view Timex watches as being dependable,relatively accurate,and inexpensive.The Rolex brand tends to be perceived as an expensive status symbol.Timex watches can be purchased in drug stores,discount stores,and department stores in all sizes of communities.Rolex watches are selectively distributed in fine jewelry stores or specialty shops in major cities.By using distinctly different pricing and distribution strategies,the marketers of Rolex watches

Which strategy involves a firm's using different marketing mix actions to help consumers perceive the product as being different and better than competing products?

Kellogg's has several cereals targeted at different types of users.This is an example of multiple products aimed at multiple markets.Manufacturing these different cereals is clearly more expensive than producing one,but seems worthwhile if it adds to the manufacturer's sales revenues and profits,serves customers' needs better,and

Criteria for forming segments involve both similarities and differences.Which of the following statements is most accurate?

The fourth step in segmenting and targeting markets that link customer needs to marketing actions is to __________.

Model E is a new type of car manufacturer that relies on the Internet to build new car designs from prototypes to marketable vehicles much faster than ever before."Think of Model E as the Dell of the auto industry.We design just a few products that consumers truly want,leveraging best-in-class components and micro-factory approaches for rapid design,launch,and direct delivery," said William Santana Li,president and CEO of Model E.Model E manufactures each car when a customer chooses from a limited number of options and orders.Model E relies on

The fifth step in segmenting and targeting markets that link customer needs to marketing actions is to __________.

According to Figure 9-5 above,what percentage of nonusers could still be considered potential customers?

ChoiceShirts is an online company that makes made-to-order T-shirts.Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch.This is an example of

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as

A nonprofit food bank was handing out food to anyone who requested it on a weekly basis.It now wants to give free food only to people who go hungry on a daily basis.This will be the market segment it targets.How does the formation of its market segments differ from the strategy used for a retail store?

When Procter & Gamble introduced Crest toothpaste,the first fluoride toothpaste,it was intended for use by children and was therefore given a child-appealing bubblegum flavor.Sometime later,the same basic formula was given a fresh,minty flavor to appeal to adults.What marketing strategy did P&G use in this example?

Suppose marketers want to use product differentiation and market segmentation strategies.What question should they ask when considering the potential for cannibalization on these strategies?

Which of the following statements regarding segmentation bases is most accurate?

When Ann Taylor,a well-known retailer of sophisticated women's clothing,started losing sales to its own LOFT outlets that feature moderately priced casual clothes,Ann Taylor was dealing with the marketing phenomenon known as __________.

A perceptual map enables a manager to see how __________ perceive competing products or brands,as well as the firm's own product or brand.