Exam 3: Market Segmentation and Strategic Targeting

RENTAL CAR MINI CASE: Rosetta Car Rental operates car rental lots at airports nationwide.It specifically targets vacationers and advertises in travel magazines and through travel web sites with a campaign that emphasizes its quality customer service and well-maintained cars.Rosetta stocks its lots based on a number of factors, including climate and the type of activities it expects its renters to undertake.For example, Rosetta stocks more convertible cars in its warm California lots than in New York.Its Colorado lots stock a large number of station wagons, vans, and SUVs to accommodate skiers and snow-boarders and all their gear. -In the RENTAL CAR MINI CASE,Rosetta exercises ________ when it stocks more convertible cars in California than in New York.

The most popular use of geography in strategic targeting is ________ - a hybrid segmentation scheme based on the premise that people who live close to one another are likely to have similar financial means,tastes,preferences,lifestyles,and consumption habits.

Traditionally,the ________ has been the focus of most marketing efforts.

________ is felt by many marketers to be a strong indicator of the ability to pay for a product.

The attitudinal component of brand loyalty involves ________.

Age,gender,and education are bases of which of the following types of segmentation?

The VALS typology classifies the American adult population into eight distinctive subgroups based on their motivations and level of resources.The three primary motivations include ________.

RENTAL CAR MINI CASE: Rosetta Car Rental operates car rental lots at airports nationwide.It specifically targets vacationers and advertises in travel magazines and through travel web sites with a campaign that emphasizes its quality customer service and well-maintained cars.Rosetta stocks its lots based on a number of factors, including climate and the type of activities it expects its renters to undertake.For example, Rosetta stocks more convertible cars in its warm California lots than in New York.Its Colorado lots stock a large number of station wagons, vans, and SUVs to accommodate skiers and snow-boarders and all their gear. -In the RENTAL CAR MINI CASE,by focusing on a single segment (vacationers)of the market,Rosetta is using a(n)________.

Consumers in different social classes tend to vary in terms of values,product preferences,and buying habits.

What is countersegmentation?

Frequency award programs attempt to reward customers who are brand loyal.

Consumers' characteristics can be classed as either consumer-rooted or consumption-specific.In this context,consumer-rooted features stem from the consumer's physical,social,and psychological characteristics.Examples of consumer-rooted features include ________.

MUSEUM MINI CASE: Central City Art Museum is looking to increase museum revenues by trying to draw more people to the museum.Research has shown that the most frequent users of the museum are over 55 years old, have college degrees, and have a household income of over $100,000.Less frequent users of the museum have the same education and income profile as frequent users, but tend to be younger, between 35 and 55.Surveys suggest that these younger adults would use the museum more frequently, but have do not have enough time due to the demands of their children and families.In order to increase museum entrance revenues, the administrative team wants to attract people who are likely to become heavy users of the museum when they get older, and try to bring them into the heavy user category at an earlier age.In an effort to encourage heavy museum use, the museum has begun a membership program that offers discounts on museum entrance and gift shop purchases and special exhibit preview events for members.The museum has also begun to offer free children's art and museum appreciation classes on weekend afternoons that will allow younger adults to drop their children off once a week and then enjoy the museum's exhibits and café. In order to promote its new children's programming, the museum acquired an address list of local households with children, including the ages of those children, and intends to send tailored messages specifically highlighting programming that is age-appropriate for each household's children. -In the MUSEUM MINI CASE,the most important differentiating factor between frequent and less frequent users is ________.

Consumer innovators tend to be brand loyal.

The ________ of a product or service is the value proposition,expressed through promotion,stating the product's or service's capability to deliver specific benefits corresponding to consumers' unfulfilled needs.

Describe the advantages and disadvantages of a mass marketing strategy.For what types of companies does this strategy work best?

Differentiated marketing is a highly appropriate segmentation strategy for financially strong companies that are well established in a product category and competitive with other firms that are also strong in that category.

When segments evolve in such a way that they no longer warrant individually designed marketing programs,research aimed at discovering a more generic need or consumer characteristic applicable to the members of two or more segments can be undertaken to facilitate ________.

The ________ is a composite variable based explicitly on marital and family status but implicitly reflects relative age,income,and employment status.

Another term for psychographic characteristics is _________.