Exam 9: Market Segmentation, Targeting, and Positioning

As part of the budget processing,a(n)__________ is often included to understand potential total company profitability.

SwissAir recently tried to expand,but because of a variety of reasons,it failed and had to declare bankruptcy.Prior to declaring bankruptcy,SwissAir engaged in several cost-cutting efforts,which alienated its customer base.After much effort,the company began operations again with the hope of attracting its previous customers back.Because it feared that a _____ strategy would not undo the damage to the brand name,the company opted for a totally new name and new look.

By Terry is a company that caters to the very affluent consumer who desires complete personalization.This Paris-based boutique will use your DNA and planetary alignment to customize your very own lipstick.The lipstick is designed and created solely for you.But it will cost you US$1,200.This is an extreme example of:

A national car rental firm targets 50 percent of its advertising to salespeople who travel more than 1,000 miles per week.Its market is segmented by:

A key to positioning a product effectively is the perceptions of consumers.In determining a brand's position and the preferences of consumers,companies obtain three types of data from consumers.List these 4 types of data and from them develop a perceptual map for at least 5 different makes or models of vehicles (e.g.Ford,VW,etc.)

Which of the following is NOT one of the five general criteria often used to pick target segments?

Alka-Seltzer was made originally as a hangover remedy that cured the headache and settled the stomach.Today you can buy Original Alka-Seltzer,Extra Strength Alka-Seltzer,Alka-Seltzer Morning Relief (for morning headaches and fatigue,and Alka-Seltzer Heartburn Relief).Each Alka-Seltzer product is targeted to a slightly different market segment.The maker of Alka-Seltzer is using:

Which of the following is NOT a criterion used in forming market segments?

A local fast food restaurant uses inserts to advertise their upcoming offers to students.The inserts are used in a student newspaper and in the area code where students live on-campus.Why would the restaurant choose NOT to include inserts in those papers where students reside with their parents off-campus?

Which segmentation factor will members of a local hunting,fishing,and trapping association be characterized as?

In developing a marketing strategy for your Wendy's restaurant,you determine that as many as 400 lunches per day are purchased by local college students who commute and eat at your restaurant.This is part of the process for:

What is Product Differentiation and how does this relate to the marketing mix? Give an example. E.g., Apple iPod vs.Creative MP3 player.The iPod can play back video as well as MP3 files.

A marketing manager must be able to put a market segmentation plan into effect.This means being able to recognize the characteristics of potential buyers and _____ without encountering excessive costs.

A product manager for Wilson's tennis racquets in 2010,who needed to make a sales forecast through 2013,started with the known value of 2009 sales and listed the positive factors (more tennis courts,more TV publicity)and the negative ones (competition from other sports,high prices of graphite and ceramic racquets)to arrive at the final series of annual sales forecasts.The Wilson product manager uses a _____ forecast.

Some Timex wristwatches can be purchased for less than $30; some Rolex wristwatches carry a price tag of several thousand dollars.In general,consumers view Timex watches as being dependable,relatively accurate,and inexpensive.The Rolex brand tends to be perceived as an expensive status symbol.Timex watches can be purchased in drug stores,discount stores,and department stores in all sizes of communities.Rolex watches are distributed more selectively,and are often available only in fine jewellery stores or specialty shops.By using distinctly different pricing and distribution strategies,the marketers of Timex and Rolex watches have attempted to:

A perceptual map is most like a:

Hot Topic is a California-based retailer that opened six Torrid plus-size-only retail stores that cater to women aged 15-30.Hot Topic expects its six Torrid stores to achieve $56 million in revenues in 2014.This $56 million is a(n):

A bakery chose to target breakfast crowds and people who wanted to have something special to go with their meals.It ran advertisements saying it was open at 4:30 AM,and it handed out flyers in nearby buildings promoting that it did a second baking in the early afternoon so customers could have the freshest baked goods to go with their evening meals.Since its advertising was very focused,it could be said that the bakery used a:

The Dairy Farmers of Canada engaged in a nationwide advertising program that highlighted the benefits of consumer chocolate milk after exercising.After the program was aired,chocolate milk sales increased significantly.What fundamental business decision was likely made that caused the resulting increase in sales?

A new business is considering offering three different products to three different segments.Which statement best describes a useful tool to determine which segment to enter first base on sales?