Exam 9: Market Segmentation, Targeting, and Positioning

Some Timex wristwatches can be purchased for less than $30; some Rolex wristwatches carry a price tag of several thousand dollars. In general, consumers view Timex watches as being dependable, relatively accurate, and inexpensive. The Rolex brand tends to be perceived as an expensive status symbol. Timex watches can be purchased in drug stores, discount stores, and department stores in all sizes of Communities. Rolex watches are distributed more selectively, and are often available only in fine jewellery stores or specialty shops. By using distinctly different pricing And distribution strategies, the marketers of Timex and Rolex watches have attempted to:

The three main segments that Prince Sports, Inc. has identified are:

A bakery chose to target breakfast crowds and people who wanted to have something special to go with their meals. It ran advertisements saying it was open at 4:30 AM, and it handed out flyers in nearby buildings promoting that it did a second baking in the early afternoon so customers could have the freshest baked goods to go with their Evening meals. Since its advertising was very focused, it could be said that the bakery used a:

Mars Candies decides to extend the level of customization of their M&Ms. When you send in a salvia swab, the company will custom tailor the balance of salty/sweet/savory of the M&M to best appeal to your taste buds and ship you a package. This strategy is known as:

A fast food chain has determined that for every $1 spent by a 'light user,' each 'heavy user' spends $5. Which statement best describes this situation?

Johnson Gloves is a company that caters to the very affluent consumer who desires complete personalization. This Madrid-based boutique will use your fingerprints to customize your very own pair of driving gloves. The gloves are designed and created solely for you. This is an example of:

Pristine Carpet Cleaning uses last year's sales as a starting point to estimate next year's sales and then looks at positive and negative influences that may affect sales. This is an example of:

When Nokia considered entering the African smartphone market, one of the fastest growing regions in the world for smartphone adoption, it calculated the total cellphone and smartphone sales already occurring in this region to use in its analysis. Nokia is Determining the__________ for the market.

Which of the following forecasting techniques would be most accurate for estimating sales revenues for Waste Treatment Inc.'s commercial garbage disposal equipment for next year?

When Apple initially launched the iPhone, their major focus was on the high-end consumer market. Apple has spent significant time attempting to change the perception of business' who do not view the phone as a business phone, but rather a consumer Phone, and therefore, do not issue it to their employees. Apple is working hard at ________ the iPhone.

When Comfy Covers Ltd., a BC fiber pillow manufacturer offers firm pillows for side sleepers, medium pillows for back sleepers, and soft pillows for stomach sleepers, what is this marketing strategy called?

A local coffee shop places significant value in using consumer demographic variables in segmenting their local market. Using the latest Canada Census covering topics of: education, age, and income will be important to use in which marketing step?

Doris Lewis owns Lewis Edibles, Inc., a company that makes Tongue Tinglin' B.B.Q. sauce. She wants to target local people who like the special blend of flavours found only in North Carolina barbecue sauce. In developing a marketing strategy to sell the sauce, Lewis decided to join Goodness Grows in North Carolina, a specialty food Association that advertises local products and distributes them to local supermarkets and gourmet shops. Lewis has just:

When Future Vacations allows customers to personalize their next vacation and customize their trip to whatever their needs are, this would best be described as:

When compared to a multiple-products-multiple-market segments strategy, a one-product-and-multiple-market-segment strategy:

To be identified as a market segment, its members must:

Which of the following is NOT a criterion used in forming market segments?

"We're increasing TV advertising, adding some sales representatives, and adding 3 new product models. All those things are positive. But on the negative side, we're going to increase prices across the board by 20 percent. So on balance, I think sales will increase next year by 5 percent". When a marketing student overheard this comment, she knew the person who was talking was planning to use a __________.

Doris Lewis owns Lewis Edibles Inc., a company that makes Tongue Tinglin' B.B.Q. sauce. She wants to target local people who like the special blend of flavours found only in North Carolina mustard-based barbecue sauce. The easiest method for segmenting her market is to use ______ segmentation variables.

Marketers use market segmentation to each of the following EXCEPT: