Exam 9: Marketing Segmentation, Targeting, and Positioning

Match each item to the statement or sentence listed below. a.target market b.market segmentation c.cohort effect d.census metropolitan area (CMA) e.differentiated marketing f.concentrated marketing g.micromarketing h.positioning map i.VALS j.AIO statement k.core region l.consumer product m.demographic segmentation n.80/20 principle o.psychographic segmentation p.geographic information system (GIS) q.positioning r.geographic segmentation s.business product t.mass marketing -describes an activity, interest, or opinion that allows researchers to develop lifestyle profiles.

Concentrated marketing strategy ties a firm's growth to a specific market segment.

The VALS theory measures two variables-an individual's resources and innovation-and plots them on a grid of eight defining personalities. The assumption is that each of the eight personalities will exhibit a certain type of buying behaviour.

How can the use of demographic segmentation abroad be characterized?

The average household size in Canada has shrunk to a new low of five people.

Senior citizens today are a homogeneous group with common needs and characteristics.

The group born between 1968 and 1979, now generally in their early 30s to early 40s are referred to as Generation Y.

Regina is an independent strategy consultant. She has guided her client's company through the market segmentation process and has posed the question: "Does the potential for achieving company goals justify committing resources to develop each or any of these segments?" What stage of the market segmentation process is the company at?

What is the lumber a carpenter purchases to finish a client's basement known as?

Residence location within an area is an important geographic segmentation variable.

What is the largest segment that values professional and material goals more than other groups?

Match each item to the statement or sentence listed below. a.target market b.market segmentation c.cohort effect d.census metropolitan area (CMA) e.differentiated marketing f.concentrated marketing g.micromarketing h.positioning map i.VALS j.AIO statement k.core region l.consumer product m.demographic segmentation n.80/20 principle o.psychographic segmentation p.geographic information system (GIS) q.positioning r.geographic segmentation s.business product t.mass marketing -The concept of _____ refers to placing a product at a certain point or location within a market in the minds of prospective buyers.

VALS™ defines eight personality types that impact purchasing decisions. Which of the following set of traits is NOT part of the VALS matrix?

Most Chinese Canadians come from the same areas of the world and share similar shopping habits.

Who does the "empty nest" stage in the family lifecycle include?

The management-driven method of identifying market segments asks customers which attributes of a product are important to them and clusters responses to identify potential segments.

The fact that food industry manufacturers are downsizing products and offering more single-serve foods is due to the increase in the number of same-sex couples.

What strategy does Burt's Bees skin-care products, manufactured with all natural ingredients, use?

The information, analysis, and forecasts accumulated through the entire market segmentation decision process allow management to assess the potential for achieving company goals and to justify committing resources to develop one or more segments.

Population age distribution and projected changes in age groups are important to marketers because consumer needs and wants differ notably among age groups.