Exam 9: Market Segmentation, Targeting, and Positioning

A company might select a shotgun approach to advertising if it wants to:

The most commonly used forecasting technique is the:

A home heating company calls potential customers to understand if they are interested in purchasing a new furnace in the next three years. The company is conducting

By including both organizational or business characteristics-such as location, size of firm, industry category, corporate activities, business objectives, and buying objectives -and characteristics of the composition of the organization-such as the income Distribution of employees, age, gender, and education of the workforce, experts have referred to these variables collectively as:

There are a lot of skateboard manufacturers on the market, but the BMW Streetcarver is the only one with stabilizers and wheel design based on BMW's automobile. This technology gives the BMW Streetcarver better control at high speeds and around sharp turns than any other brand. What type of positioning is BMW using with its skateboard priced at $495?

Magazines like Fitness, Field & Stream, Golf Digest, and Health all use a ________ segmentation strategy.

Firms offer different variations of the same basic product or service to both, high-end and low-end segments. Gap's Banana Republic chain sells blue jeans for $58, whereas its Old Navy stores sell a slightly different version for $22. This is an example of:

Best Foods Company is considering expanding beyond the regional market segments now served by its Hellmann's mayonnaise. One criterion management wants to use to evaluate potential new geographic market segments is whether new equipment must be bought to serve each new segment. This is an example of which criterion used to pick new target market segments?

Hot Topic is a California-based retailer that opened six Torrid plus-size-only retail stores that cater to women aged 15-30. Hot Topic expects its six Torrid stores to achieve $56 million in revenues in 2014. This $56 million is a(n):

The president, vice-president, and directors of marketing, finance, and research and development meet to discuss sales for the next fiscal year. All of the people present contribute to the discussion although they are somewhat inhibited by the strong personality of the finance director. Together they finalize the sales projections for the following year. This is an example of a __________forecast.

A key to positioning a product effectively is the perceptions of consumers. In determining a brand's position and the preferences of consumers, companies obtain three types of data from consumers. List these 4 types of data and from them develop a perceptual map for at least 5 different makes or models of vehicles (e.g. Ford, VW, etc.)

Between two and three percent of the population have some degree of allergic reaction, usually mild, to preservatives used in salad bars. Restaurants might consider people with these "allergies" as a separate segment. So these restaurants will need to have Their regular salad bar plus a special salad bar for the allergies segment. This multiple product and multiple market segment strategy would have the greatest difficulty Meeting which of the following criteria used to form market segments?

Firmographics involves both characteristics of the composition of the organization -such as the income distribution of employees, age, gender, and education of the workforce and organizational or business characteristics which include each of the following EXCEPT:

Canadian Tourism Commission developed their Explorer Quotient segments to help:

A product manager for Wilson's tennis racquets in 2010, who needed to make a sales forecast through 2013, started with the known value of 2009 sales and listed the positive factors (more tennis courts, more TV publicity)and the negative ones (competition from other sports, high prices of graphite and ceramic racquets)to arrive at the final series of annual sales forecasts. The Wilson product manager uses a ________ forecast.

All of the following are steps in the positioning process, except:

A fast food restaurant is likely to undertake an analysis of all of the following to select a target market, except:

"Number of store visits per week" is to "usage rate," that "market potential" is ________.

Your college or university wants to attract more people to business night classes. Who should they market to? Thinking of the college or university you currently attend, what are the criteria to be used in selecting target segments?

One bank determined through detailed segmentation analysis that certain customers were clearly less profitable, or even unprofitable, to serve compared with others. They started to charge a fee to those high-cost, low-profit customers if they used a teller at a branch or if they phoned a call centre for customer assistance. Many of these Customers, upon finding charges of $2 per contact, decided to leave the bank, which is exactly what the bank intended. It could be said that the bank used ________ Customers.