Exam 6: Customers, Segmentation, and Target Marketing

Explain the five different target marketing strategies and give examples of firms that use each one. Also, discuss how firms might approach the targeting of noncustomers.

Advances in supply chain management now allow companies to customize products to meet the needs of individual customers on a mass scale. This individualized approach to market segmentation is called:

What type of segmentation divides consumer markets into segments using individual factors such as gender, age, income, and education?

If a researcher were to ask consumers to quickly name the top 3 brands of computers they might consider purchasing, the most common brands in the _____ would most likely be Dell, Apple, and HP.

Firms that sell luxury products, custom-made products, and services often take the time to significantly modify their products in an effort to precisely match the needs of individual customers. These firms are pursuing what type of approach to market segmentation?