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Exam 7: Segmentation, Targeting, and Positioning

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Question 71

Multiple Choice

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The group of customers toward which an organization has decided to direct its marketing efforts is called its

A) target market.
B) marketing segment.
C) primary market.
D) target sector.
E) primary segment.

F) A) and B)
G) B) and C)

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Question 72

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A perceptual map is a competitive analysis tool that creates a visual picture of where products are located in consumer's minds.

A) True
B) False

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Question 73

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If a market segment is _______,a firm should be reasonably certain that its marketing mix can inform consumers about the product,how it adds value to the consumer,and ultimately how to purchase it.

The fact that you see a Starbucks on practically every corner would indicate that Starbucks is most likely geographically segmenting based on

You are a financial planner who uses demographic segmentation factors such as age,income,education and family status to identify potential clients for your retirement investing services.You are also interested in investigating how to use psychographic segmentation to identify potential clients.How can you use the concepts of psychographic segmentation to assist you in identifying additional clients?

Describe the four major bases of consumer segmentation.

Which market segment criteria refers to the fact that segments must be large enough for the firm to make a profit by serving them?

College Prep Tutors is a business that tutors high-school students who are preparing to take the ACT test as part of their college entrance requirements.Because it possesses a unique offering that is desirable to a specific market,College Prep Tutors would most likely use what type of target market strategy?

When it comes to segmenting markets based on income,the group of American households that have between $100,000 and $250,000 in investable assets and is one of the fastest growing segments in the U.S.is referred to as ______ ______.

Market ______ are the relatively homogenous groups of consumers that result from the segmentation process.

When highlighting a product's competitive advantage based on attributes,a firm will

After Carson opened up his new sports bar/restaurant,he determined that students from the nearby college campus will provide him with the best opportunity to maximize sales,so he is concentrating his marketing efforts on this group which will be his

A defined in your text,market segmentation involves dividing a larger market into smaller market segments based on

An auto insurance company segmented its market by both gender and age,and designed different marketing campaigns to appeal to both.In the end,both segments responded the same to the different marketing strategies,in part,because both segments are required to have auto insurance.This firm failed to understand the criteria of market segments needing to be

Both Sam's Club and Costco have positioned themselves as providing a variety of items to shoppers at prices lower than retail stores.These stores have positioned themselves based on

It is important for many firms to identify their heavy users because of the rule that 20 percent of heavy users account for _______ percent of the total demand.

To be effective,segmentation should create market segments that rate favorably on various criteria.Which of the following is not one of the criteria outlined in your text?

_______ segmentation is often the most difficult to use because it is not only expensive but also time-consuming.

When a company evaluates each market segment to determine which segment or segments present the most attractive opportunity to maximize sales,it is engaged in

The ethical implications of targeting some market segments can be seen when marketers at Abercrombie and Fitch began marketing clothes with sexualized characteristics to _______.