Exam 7: Targeting Attractive Market Segments

Mary Land group of hotels designs different brand name hotels for different market segments such as families,business-people,and low-budget travelers.This is an example of _____ market strategy.

Most entrepreneurial ventures that target narrowly defined market segments at the outset are not successful.

Geodemographics attempts to predict consumer behavior by making demographic,psychographic,and consumer information available at the block and zip code or postcode levels.

What are the basic target market selection strategies?

What are the demographic attributes used to segment consumer markets?

Hyatt group of hotels announces a new marketing program that features excursions and social events for teenagers.Which of the following demographic descriptors is reflected in this case?

Assessing the attractiveness of markets or market segments involves assessment of demographic,sociocultural,economic,political/legal,technological and natural trends that influence demand in that market.

Macro trends are generally more favorable for companies like Coca-Cola in emerging markets with rapidly growing middle classes.

Pick three distinct stages of the household life cycle and identify products that might be more frequently purchased at each stage.

The first step in constructing a market attractiveness/competitive position matrix involves:

When competitive position is strong and the market attractiveness is low,the firm's primary approach should be to:

All of the following are examples of factors to be considered in assessing competitive position EXCEPT:

When firms develop unique marketing programs for each targeted country's consumers,they are segmenting on the basis of _____ and are assuming _____ among members of a market.

When both the competitive position and the market attractiveness are weak,the firm's primary approach should be to:

Market-attractiveness factors include customer needs and behavior,market or market segment size and growth rate.

Market segmentation based on sources of purchase influence for the product category is relevant only for industrial markets.

What are the most appropriate options for firm managers in the case of the market attractiveness being high but the firm's competitive position being weak?

When competitive position is weak and the market attractiveness is high,the firm's primary approach should be to:

What are the most important factors in assessing market attractiveness and competitive position?

The final step in constructing a market attractiveness/business position matrix is to: