Exam 8: Identifying Market Segments and Targets

A marketer is interested in segmenting a business market on ________ if the marketer intends to eventually segment the market based on loyalty and attitudes toward risk.

________ are often a small percentage of the market but account for a high percentage of total consumption.

A company is customerized when it is able to respond to individual customers by customizing its products,services,and messages on a one-to-one basis.

A ________ consists of two parts: a naked solution and discretionary options.

In evaluating different market segments,the firm must look at two factors: the segment's overall attractiveness and ________.

Marketers would rather attract one heavy user than several light users.

Most companies today are turning to micromarketing at one of four levels.What are those levels

With ________ as a target market strategy,the firm concentrates on serving many needs of a particular customer group.

Situational factor segmentation variables in the business marketplace include urgency,specific application,and size of order.

How are brands likely to position themselves if they are competing in a market that demonstrates diffused preferences

Characterize psychographic segmentation.

Psychographic segmentation schemes are the same across cultures.

If an organization's marketing department wished to create "segment storyboards" to test the attractiveness of each segment's positioning strategy,this action would most likely occur in the ________ step of the segmentation process.

The text describes five possible patterns for target market selection.Describe the pattern called selective specialization.

Thanks to the trading-up trend,New Luxury goods sell at higher volumes than traditional luxury goods.Identify and describe the three main types of New Luxury products.

Effective target marketing requires that marketers use market segmentation,market targeting,and market positioning to achieve success in the marketplace.

Average U.S.household income has risen in the past 30 years,with growth highest for the top 20% of households.

Increasingly,companies are finding that their markets are "hourglass shaped." What does this mean for consumers and for marketers

All attempts to target marketing to children,minorities,or other special segments are discriminatory and unethical.

Customer cloning is the practice of identifying the key characteristics of a market segment and then identifying multiple geographic areas where the majority of the population possesses those characteristics.