Marketing Chp 8

Market segmentation involves aggregating prospective buyers into groups that have common needs and have access to and desire for the products. possess the same level of resources. are open to marketing research. are of nearly uniform size. will respond similarly to a marketing action.

Dollar Shave Club asks men to "Shave Money, Shave Time" in its commercials; it offers high-quality blades available by mail for a few dollars a month. Dollar Shave Club's advertising promotes the time- and money-saving aspects of its product as an example of product positioning. mass customization. product differentiation. segments of one and mass customization. repositioning.

A business firm uses market segmentation to respond more effectively to the wants of groups of potential buyers in order to maintain market share. increase sales and profits. be more socially responsible. use fewer of the firm's resources. provide the best quality products on the market.

Which of the following is an example of a single product with multiple market segments? Reebok makes tennis shoes, running shoes, walking shoes, and Weeboks. Reach Toothbrush is available in a soft, medium, and hard bristle for adults and kids. Twinings and Bigelow both market their own brands of Earl Grey tea. Botox is a drug marketed to some groups as a way to reduce signs of aging on the face, and to others as a treatment for migraines. Quaker Oats oatmeal sells both its hot cereals and cold cereals to people of all ages.

Apple restricts its computer manufacturing line to only a few basic models that can be assembled in four minutes, which gives customers a good choice with quick delivery. This is an example of mass customization. organizational synergy. unsegmented marketing. built-to-order manufacturing. marketing synergy.

Walmart has been opening Walmart Neighborhood Market stores that are one-fifth the size of its supercenters and intended to compete with stores like Dollar General. One risk to this effort is aggregation. cannibalization. segmentation. differentiation. positioning.

There are five steps involved in segmenting and targeting a market. What should a marketer do once she has developed a market-product grid and estimated the size of markets? execute marketing program actions group both potential buyers and products to be sold identify market needs position the product select target markets

Potential buyers within a market segment should be similar to those from different segments. familiar with the product but not yet brand loyal customers. similar in terms of the product features sought. cannibalized from competitors' customers. able to provide significant product synergies.

Which of the following is a variable that could be used for demographic segmentation of consumer markets? occupation city size NAICS code personality usage rate

There is a growing group of young individuals in the United States that live in their vans, documenting their picturesque adventures on Instagram with the hashtag, #vanlife. This group could most likely be isolated for marketing purposes using which consumer segmentation basis? psychographic behavioral demographic socioeconomic geographic

Though the percentages are not always the same, a general rule in business says that the large majority of a firm's revenues come from what percent of its customers? 5 percent 20 percent 35 percent 50 percent 80 percent

Which two of the following demographic segmentation variables would firms use to segment organizational markets? usage rate and type of outlet global region and statistical area zip code and NAICS code lifestyle and statistical area annual sales and number of employees

Kitchen World has put its offerings in store locations based upon the cooking activity—the way consumers prepare and present various meals. Everything for baking is in one spot, while food preparation utensils are in another, and table settings are in yet another. This strategy uses product clusters. product groupings. segment groupings. lifestyle merchandising. psychographic merchandising.

In a complete market-product grid analysis, each cell in the grid can show the estimated ______ of a given product sold to a ______. value; customer. strengths; consumer. market size; specific market segment. growth rate; specific market segment. weaknesses; consumer

Which of the following is a criterion used to select a target market segment? competitive position high income similarity of needs of potential buyers within a segment difference of needs of buyers among segments potential of a marketing action to reach a segment

________ synergies are represented by multiple filled boxed running vertically down the market-product grid, representing an opportunity for efficiency in research and development (R&D) and production. Market Product Sustainable Supplier Competitor

Positioning a product or brand effectively involves taking four steps, one of which is deciding whether to keep or delete a product group or item. deciding which of your competitors would be the most effective partner in a corporate merger. developing a new marketing program that conforms to your leading competitor's offering. identifying market niches that were not previously discovered during the market segmentation process. discovering how target customers rate competing products or brands with respect to important attributes for the class.

Two major types of product positioning are competitive and consumer. niche and perceptual. behavioral and psychological. head-to-head and differentiation. holistic and segmentation.

When Apple introduced its iPhone X with Face ID at a high price tag, it used __________ to avoid direct competition with Samsung, LG, and others. head-to-head positioning niche positioning differentiation positioning competitive positioning holistic positioning

A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand, is referred to as a research grid. perceptual map. market-product grid. growth-share matrix. product differentiation chart.