Exam 9: Market Segmentation, Targeting, and Positioning

What is a market-product grid and how is it useful? Develop a market-product grid for ABC Company Inc.'s digital camera line assuming they have a point-and-shoot 2 megapixel camera,a point-and-shoot 6 megapixel camera,an SLR (exchangeable lens)14 megapixel camera,and a cell phone with a 0.5 megapixel built-in camera.

KFC is a popular fast food restaurant in North America.It opened its 500^th restaurant in China in 2001 and is more popular than McDonald's in that country.One of the reasons is that when the company entered the Chinese market,it recruited its managers from Taiwan and the Chinese communities in the U.S.and Canada.This has been useful in coping with local Chinese governments and developing a distinctly different Chinese strategy,which includes Chicky,a friendly chicken character that has a strong appeal for children.To succeed in China,KFC used:

Which positioning strategy is likely to use a non-mainstream retailer to sell their product?

Your company earned sales of $10 million last year and is anticipating a growth rate this year of 12.5%.You calculate this year's sales may be $12.5 million.Which forecasting method did you use to arrive at this answer?

Miller beer once called itself "the champagne of bottled beer," and ads showed elegant women in long white dresses sipping beer from crystal goblets.Then the company discovered that most beer is consumed by men 18 to 30 years of age,and it changed the thrust of its marketing message to reflect the more productive target market.What segmentation variable has it focused on with the newer approach?

Assuming influencing factors are reasonably stable,which of the following forecasting techniques would be the most accurate for estimating the number of replacement car batteries that will be purchased by U.S.consumers next year?

How might a clothing retail store use social media segmentation to identify and market to their targeted group?

Superba Cravats is a major marketer of men's bow ties.It estimates there are 20 million buyers of bow ties each year,that the average wearer of bow ties purchases 4 ties per year,and that the average price per bow tie is $10.Superba Cravats has a market share of 20 percent.The sales forecast or company forecast for Superba would be:

Which of the following statements demonstrates geographic segmentation?

Several years ago dairies got the idea to target chocolate milk sales at a new market-adults.They did this by shifting perceptions of chocolate milk as a children's moderately nutritional drink to it being perceived as a highly-nutritious adult drink.This illustrates successful implementation of a ___________.

Moto X,a smartphone offered by Google and Motorola allows users to personalize the colors,case,and engravings online before purchasing.This is an example of which strategy?

Kellogg's different types of cereals,each targeted at a different type of user,are an example of multiple products aimed at multiple markets.Manufacturing these different cereals is clearly more expensive than producing one,but seems worthwhile if it serves customers' needs better,doesn't reduce quality or increase price,and:

Many people are unaware that an individual can preplan his or her funeral so grieving relatives will not have to.Funeral homes trying to reach this market segment should use primarily _____ segmentation.

Firms offer different variations of the same basic product or service to both,high-end and low-end segments.Gap's Banana Republic chain sells blue jeans for $58,whereas its Old Navy stores sell a slightly different version for $22.This is an example of:

Mars Candies decides to extend the level of customization of their M&Ms.When you send in a salvia swab,the company will custom tailor the balance of salty/sweet/savory of the M&M to best appeal to your taste buds and ship you a package.This strategy is known as:

Marketers use market segmentation to each of the following EXCEPT:

A local sports store is planning on using only demographic variables to segment potential customers who will purchase from the store.This will dictate the diversity of products the store will carry.Which research report is most useful to this sports store?

Model E is a new type of car manufacturer that relies on the Internet to build new car designs from prototypes to marketable vehicles much faster than ever before possible."Think of Model E as the Dell of the auto industry,designing products based on what consumers truly want and leveraging best-in-class components and micro-factory approaches for rapid design,launch,and direct delivery," said William Santana Li,president and CEO of Model

Between two and three percent of the population have some degree of allergic reaction,usually mild,to preservatives used in salad bars.Restaurants might consider people with these "allergies" as a separate segment.So these restaurants will need to have their regular salad bar plus a special salad bar for the allergies segment.This multiple product and multiple market segment strategy would have the greatest difficulty meeting which of the following criteria used to form market segments?

Whirlpool aggregates prospective customers who are all interested in a low-cost washing machine and respond positively to mail-out marketing material.This process is referred to as: