61. A targeting strategy that involves pursuing a large share of a small market segment is referred to as
A. lifestyle marketing.
B. geographic targeting.
62. 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?
D. lifestyle marketing
E. undifferentiated targeting
63. Read the following and select which one best represents a growing ethical concern in targeting certain market segments.
A. Lane Bryant targeting clothing for plus-sized women
B. Skype.com targeting older Americans as a way to connect with their grandchildren
64. The activities a firm undertakes to create a certain perception of its product in the eyes of the target market is referred to as
A. targeting.
65. According to your text, positioning assumes that consumers
A. will make up their own minds about a product, regardless of how it is marketed.
B. are followers and will only buy products that appeal to their friends as well.
66. The first step marketers should take when deciding how best to position their product is to
67. Regarding positioning a product, when is competitive analysis most important?
68. The competitive analysis tool that creates a visual picture of where products are located in consumers’ minds is called a
A. competitive map.
B. conceptual map.
69. An advantage to using a perceptual map is that it
A. shows the firms strengths, weaknesses, opportunities and threats.
E. it is the quickest way to determine market segments.
70. The second step in deciding how best to position a product is to
A. evaluate consumer feedback.
B. analyze competitors’ positions.
71. 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
A. application.
B. price/quality relationship.
C. product knowledge.
D. personalized sales support.
E. attributes.
One way to highlight a firm’s competitive advantage is based on price/quality relationship.
72. When highlighting a product’s competitive advantage based on attributes, a firm will
73. According to your text, what step in deciding how to position a product should be done on a continual basis since consumer
tastes change for almost every product?
74. A succinct description of the core target market to which a product is directed and a compelling picture of how the firm wants
that core market to view the product is called a
75. Today’s health conscious society has caused cereal manufacturers to rethink their products. Now many cereals such as
Frosted Flakes are being marketed as being healthier because they are made with whole grains and have less sugar. This is an
example of
76. Dividing a larger market into smaller groups based on meaningful shared characteristics is a process referred to as ______
______.
77. Market ______ are the relatively homogenous groups of consumers that result from the segmentation process.
78. Market segmentation helps firms in three ways: by helping to define the needs and wants of the customers most interested
in buying the firm’s products, by helping to design the specific marketing strategies for the specific segments, and by helping
firms decide to allocate their marketing resources in a way that maximizes ______.
79. The market segment criteria stating that market segments must be large enough for the firm to make a profit by serving them
is _______.
80. 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.
81. When marketers ensure that market segments will not respond the same to different marketing strategies, they understand
that market segments should be _______.
82. When companies divide markets using characteristics such as age, gender, income, education, and family size, they are
segmenting the market by _______.
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Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 07-02 Describe the bases for segmenting both B2C and B2B markets.
Topic: Methods of Market Segmentation
83. Marketers are particularly interested in segmenting older Americans because they typically have two things that most of their
younger counterparts do not: time and ______.
84. 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 ______ ______.
85. A department store that sells ski equipment in Colorado understands the importance of _______ segmentation.
86. Market size, customer convenience and population shifts are all factors related to _______ segmentation.
87. Figures from the 2010 Census illustrated a shifting population in the United States with _______ states growing substantially
compared to the rest of the country.
88. The science of using psychology and demographics to segment consumers is called _______ segmentation.
89. The market is divided into groups according to the reason the consumer made the purchase when marketers segment based
on _______.
90. Stores such as Bass Pro Shops focus their attention on consumers who like to fish, hunt, and pursue other outdoor activities.
This represents the form of segmentation called _______ segmentation.
91. The VALS framework measures two dimensions: primary motivation and _______.
92. The VALS framework identifies three primary motivations: ideals, self-expression, and _______.
07–31
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 07-02 Describe the bases for segmenting both B2C and B2B markets.
Topic: Methods of Market Segmentation
93. Variables such as occasions, loyalty, and usage rate are all related to _______ segmentation.
94. 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.
95. _______ segmentation is often the most difficult to use because it is not only expensive but also time-consuming.
96. In a B2B market, _______ segmentation might be the most beneficial because it allows marketers to segment based on
purchasing patterns, supplier requirements, and technological orientation.
97. When a company seeks consumers who are active users of Facebook and Twitter, this is an example of how _____ _____
can be used as a market segmentation strategy.
98. _______ segmentation information, which is typically easy to acquire, may be slow in coming or completely unavailable in
international markets.
99. Firms typically segment international markets using three general bases: global, regional, and _______.
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Difficulty: 1 Easy
Learning Objective: 07-03 Discuss international segmentation bases and the effect of international market segments on the marketing mix.
Topic: International Market Segmentation
100. _______ segmentation is used when the firm can identify a group of consumers with common needs and wants that spans
the entire globe.
101. Firms will often use a _______ segmentation strategy when they want to capitalize on the financial savings of global
segmentation but still adjust for local customs and culture.
102. When the similarity in needs and wants exists only within one country, a _______ segmentation strategy will be used.