Exam 15: Segmenting and Targeting Markets

The debate over gay marriages is causing a great deal of furor,but it has done little to deplete the importance of the affluent gay market to businesses.Georgia Pacific and Mitchell Gold,a furniture manufacturer,are two companies that have implemented and maintained marketing mixes designed to meet the needs of lesbians and gays.To these companies and others,lesbians and gays are a desirable:

The Southern Company is the largest provider of utilities in the southeastern United States.It has also been accused of being the biggest source of industrial air pollution in the area.Southern is trying to change consumers' perceptions of the company by sponsoring a series of television programs on how to preserve our environment.The Southern Company is hoping the programming will lead to:

A market is people or organizations that have:

The requirement for a market segment to be responsive means:

Sure Fit,Inc.has begun a rebranding strategy to let customers know it no longer only produces slipcovers but now also carries a line of rugs,window treatments,and bedding.Its _____ is described as women with average annual household income of $60,000 or more.

The Coca-Cola Company has over 450 brands in over 195 countries.According to their Web site,their products range from Samurai,an energy drink available in Asia to Vita,an African juice drink.It uses _____ segmentation in this marketing strategy.

Marketers use _____ to segment markets because this information is widely available,and factors such as age or gender are often related to consumer purchasing and consumption behavior.

A market segment is deemed to have substantiality if it contains a large number of potential customers.

All of the following are bases for psychographic segmentation EXCEPT:

Marketers use a variety of terms to refer to different age groups.Name several examples and describe some characteristics of each.

A manufacturer of blankets knows heavy 100 percent wool blankets sell better in the New England area where the winters are harsh and that lighter-weight blankets sell better in the Southeast market where mild winters require fewer and lighter covers for the bed.Segmenting the market according to climate is an example of _____ segmentation.

Changing consumers' perceptions of a brand in relation to competing brands is known as:

The purchasing strategies of business buyers may provide useful segments.Two purchasing profiles for business buyers have been identified.Name and describe them.

All of the following statements are reasons why consumer goods companies take a regional approach to marketing rather than a national approach EXCEPT:

Income,ethnic background,gender,and age are all examples of _____ segmentation bases.

_____ segmentation is based on personality,motives,and lifestyles.

One reason marketers use market segmentation as a tool is that once completed,the process need not be repeated.

Candace Popwell makes and markets Festive Holiday Truffles candy.The confectionary company owner views the world as one big market with no individual segments and tries to reach it with only one marketing mix.Her essentially mass-market philosophy indicates she probably uses a(n)_____ strategy.

When a firm uses a concentrated targeting strategy,it can:

Mercedes-Benz Daimler AG, the maker of Mercedes-Benz automobiles, is planning to launch a new line of downsized luxury vehicles in the United States by 2012. Daimler has experienced a recent drop in global sales attributed to its product mix that focuses on larger luxury automobiles. With increasing fuel prices and stricter U.S. fuel-economy standards coming down the pipeline, Daimler doesn't want to be left behind. Daimler is behind its competition, though. Its German rivals, Audi and BMW, have been relatively successful in the United States. BMW's Mini Cooper, demanding as much as $34,000, has already driven away with some of Daimler's potential sales. While Daimler already offers the Smart car in the United States, the new offerings will not be going after the same consumers. -Refer to Mercedes-Benz.Daimler plans to introduce the downsized luxury vehicles in major U.S.cities,such as Los Angeles,New York,Miami,Atlanta,Dallas,and Chicago because market research has shown that these metropolitan areas have the greatest potential with respect to the consumers able to purchase a $30,000+ smaller luxury vehicle.Which type of psychographic segmentation does this represent?