Exam 7: Segmenting and Targeting Markets

What is psychographic segmentation? Why do marketers use psychographic segmentation? List four psychographic variables that are commonly used as segmentation bases.

SCENARIOS Turkey Hunting Equipment Around the beginning of fall each year,about 2.7 million turkey hunters all over the United States start looking at catalogs for the perfect item to guarantee that this year they will kill a wild turkey,the most elusive game bird on the North American continent.The devoted turkey stalker can stock up on everything from camouflaged turkey hunting socks,turkey license plate holders,vests with huge pockets for toting dead birds,and hunting videos to turkey decoys,turkey earrings,and turkey callers.Neil Cost is considered the best manufacturer of turkey callers in the world.That is his only product,and each is highly prized by turkey hunters.It is not unusual for a turkey hunter to pay $5,000 for one of Cost's callers. -Refer to Better World Travelers Club.In deciding to target the environmentally conscious traveler,BWTC hoped that this group met the criterion of _____.In other words,it had to be sure that this group would react to its marketing mix differently from other groups.

Pitkin Enterprises produces animal figurines for children and young adults.For children,it makes hard-to-break figurines that are promoted and distributed in the same manner as the delicate,porcelain ones made for young adults.Pitkin engages in multisegment targeting.

Jell-O could use _____ to determine if consumers perceive a void in snacks that are easy to handle and wholesome and if customers thought Jell-O Pudding Pops would fill that void.

An HGTV television show called Designing for the Sexes obviously relies on psychographic segmentation.

Ten Thousand Villages is a non-profit retail store that sells gift items made by artisans from over thirty different countries.This store provides employment to craftspeople in developing nations and markets their handiwork at a fair price.The store defines its market segment as people who believe in helping others and who feel good about helping others whenever possible.The store uses _____ segmentation.

Elefanten is a manufacturer of high-priced designer shoes for children up to the age of twelve.Its target market is parents with annual incomes greater than $75,000.Elefanten uses demographic segmentation variables.

ProtecTV is a product that selectively mutes words and phrases that some people find objectionable.It can be connected to a television,VCR,DVD player,or a satellite TV system.The manufacturer of ProtecTV targeted parents who did not want their children exposed to what they consider to be offensive language.The primary market segment for ProtecTV is:

Chandler Kumar owns two antique stores.One is in an upscale neighborhood,and its merchandise is artfully arranged and priced to indicate product rarity.The other is in a run-down strip mall and contains some of the same type of merchandise,but the items are left in open boxes and placed haphazardly on shelves.Customers of either store have entirely different perceptions of the stores and would be surprised to know that Kumar operates each of them because he uses such differing _____ strategies.

What is PRIZM?