Exam 9: Marketing Segmentation, Targeting, and Positioning

A marketer of a new brand of outdoor furniture wants to know more about the personalities and lifestyles of the intended consumer market in order to help match its product offerings with this segment's needs. What would be wise to use as a means of achieving this goal?

A hotel purchases towels for use in its rooms. These towels are considered business products.

Baby boomers are people born between 1947 and 1965.

Demographic segmentation is also sometimes called psychographic segmentation.

In terms of numbers, which age group is the largest?

The marketing strategy that targets potential customers based on specific occupation or lifestyle is called micromarketing.

What type of products would a young single person setting up an apartment for the first time most likely to be a good prospect for?

The Canadian population is distributed uniformly across the country.

United Way would not benefit from implementing market segmentation techniques because such techniques are inappropriate for not-for-profits.

With a 30-year span, baby boomers are too large a population with too many varying life stages to be useful to marketers.

What type of segmentation is a firm practising when it divides its customers into homogeneous groups based on their locations?

Compared to women, men have greater influence and purchasing power when it comes to product categories like electronics and home improvements.

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 idea that a small number of loyal consumers will generate the majority of a firm's revenue is called the _____.

What is the division of the total market into smaller, homogenous groups called?

Business products are defined as contributing directly to the production of other goods.

Generation X is family oriented, educated, and less likely to define themselves by their careers alone than previous generations.

Gourmet products are more likely to be successful when a concentrated marketing strategy is employed.

The question that determines whether a product will be a consumer or business product is "Who will ultimately consume this product?"

Chinese Canadian consumers have been described as value and brand conscious.

When Chevy advertises that its Suburban truck is "Like a Rock," Chevy is positioning the Suburban according to a product class strategy.