Exam 9: Market Segmentation, Targeting, and Positioning

When the Benihana Frozen Foods Corporation began to offer its Famous Restaurant Classics meals in single serving packages, it was relying on a________ segmentation variable to define a market based on serving size.

What are the four types of data needed from consumers to develop a perceptual map?

Market segmentation is only a means to an end. In economist's terms, market segmentation relates supply (the organization's actions)to demand (________ ).

A fast food restaurant groups its products into five meal categories. They are breakfast, lunch, between-meal snack, dinner, and after-dinner snack. Why does this restaurant use product groupings?

Nike recently debuted King James XVII shoes (Lebron James)with a price tag of $200. The shoes arrived at shoe stores in a metallic silver briefcase instead of a shoebox. Nike is targeting a market it identifies as "keepers," people who buy the Shoes, keep them under their bed, and when friends come over, show them the shoes. Selling to the market segment called "keepers" probably means that Nike is using which of the following types of buying situation variables to segment this market?

List and give one example for each of the 3 different dimensions commonly used to segment Canadian organizational markets.

Your college or university wants to attract more people to business night classes. Upper management wants to know how people view the institution. Thinking of the college or university you currently attend, draw and describe a perceptual map showing the competition and where your college sits in the minds of consumers.

Five general criteria are often used to pick target segments. They include the size of the market, expected growth of the market, competitive position of the firm with respect to the market, and compatibility with the organization's objectives and resources. What is the fifth criterion?

The headline of the ad for the Sleep Number bed by Select Comfort read, "5 Reasons Why You'll Sleep Better on a Sleep Number Bed." From this information, you know that Select Comfort uses________ segmentation.

A new car dealer decides to open up a dealership in a region that has higher than national average income. Which characteristic is the new car dealer using to segment their market?

Nexus 6P, a smartphone offered by Google and Motorola allows users to personalize the colours, case, and engravings online before purchasing. This is an example of which strategy?

Thinking of the five major social media user groups in Canada, as identified by Environics Analytics, describe the key differences and how might marketers use this information.

Todd Harris and Associates, a New York sales promotion agency, discovered from analysis of its files that one-fifth of its clients accounted for more than three-quarters of its fees and commissions. This is an example of what classic concept?

A business firm segments its markets when this strategy increases its sales revenue, profit, and ROI. When its increases in expenses more than offset the potentially increased revenues from segmentation, it should:

Assuming influencing factors are reasonably stable, which of the following forecasting techniques would be the most accurate for estimating the number of replacement car batteries that will be purchased by U.S. consumers next year?

Pepperidge Farm has developed new thick-sliced French Toast Swirl bread. The company realizes most people who eat toast for breakfast, see it as a side dish. Pepperidge Farm's ads advise consumers of this bread that this new product "doesn't go with breakfast. It is breakfast." Which segmentation variable is being used in this example?

Modern Maturity magazine is a publication that is sent to all AARP members, who by organization definition have to be at least 50 years old to join. The market segment for Modern Maturity magazine was defined by:

Many families today hold potluck meals during holidays or special events. Participants bring casseroles, vegetables, breads, and desserts and all share the food. It is easy to forget to take the bowl that you brought to the dinner back home with you. Reynolds responded to this problem by creating Pot Lux cookware, attractive and inexpensive Disposable dishes for transporting food. Reynolds has recognized how to use ______ variables to segment its market.

At a Hallmark store you can find several different product lines of greeting cards, including Fresh Ink, Nature's Sketchbook, Shoebox, Maxine, Mahogany, and Tree of Life cards - all made by Hallmark for sale in its stores and intended to appeal to Different target markets. The Mahogany line is designed to appeal to African-Americans. This is an example of ________segmentation.

Many people are unaware that an individual can preplan his or her funeral so grieving relatives will not have to. Funeral homes trying to reach this market segment should use primarily___________ segmentation.