Exam 7: Segmenting and Targeting Markets

Firms can be categorized by the type of purchasing strategy they use._____ usually contact familiar suppliers and place an order with the first that can meet product and delivery requirements.

Pharmaceutical firms have introduced new over-the-counter antacids that block the production of stomach acids while still marketing traditional antacids.Traditional antacids treat heartburn by neutralizing stomach acid.If sales of the new acid blockers reduce sales of the traditional antacids,then _____ has occurred.

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 Turkey Hunting Equipment.Segmenting a market based on the fact that people who enjoy hunting typically exhibit a particular lifestyle is an example of _____ segmentation.

A(n)_____ strategy entails selecting one segment of a market to target,and focuses on understanding the needs,motives,and satisfactions of the members of that segment,as well as on developing a highly specialized marketing mix.

Which of the following statements is NOT a reason why consumer goods companies take a regional approach to marketing,rather than a national approach?

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

NASCAR racing fans are some of the most diverse and loyal fans in the world.They will stand in the pouring rain,the freezing cold,or the blistering heat for hours to shake the hand and get the autograph of a NASCAR super driver.These fans are not concentrated in any one area,but are dispersed throughout the U.S.A Web site designed to market NASCAR memorabilia would be most likely to be successful if it used _____ segmentation to determine its target market.

_____ is a method that clusters potential customers into neighborhood lifestyle categories and is a combination of geographic,demographic,and lifestyle segmentation.

The difference between one-to-one marketing and customer relationship marketing can be compared to the difference between:

When Procter & Gamble (P&G)introduced Liquid Tide to a new segment,consumers in the traditional powdered detergent segment switched to the liquid product.Rather than real sales growth,P&G simply experienced the shifting of existing customers to a new product.This exemplifies a drawback of multisegment targeting strategy called:

The advertisements for Torengos tortilla chips that come in cans like Pringles deliberately compares the product to Frito-Lay's Tostitos tortilla chips and asks if you really prefer broken chips.Torengos is being positioned by:

Discuss why market segmentation is important to the well-being of most companies..

Most consumers understand the existing privacy laws and regulations.

Your firm is producing a car battery that is safe to discard in normal household trash.All other batteries on the market contain chemicals that are harmful and that can pollute underground water supplies and should be discarded with caution.Which of the following marketing segmentation options might you choose?

E&V Bridal Studios is a wedding consulting business targeted to East Asians.It accommodates the various cultures by providing services to appeal to Koreans,Vietnamese,Chinese,and Japanese customers.E&V Bridal Studies markets its services to its customers by using ethnicity to divide its customers into segments.Ethnicity is its primary:

What is benefit segmentation? For toothpaste,list six benefits that might be sought by consumers.For each benefit,give an existing brand name that best exemplifies segmentation according to that benefit.

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.BWTC's appeal to those who want to help preserve the environment indicates that the company was using a _____ base.

To position a product,a manufacturer must develop a marketing mix to influence potential consumers' overall image of that product.

All of the following environmental forces influence one-to-one marketing EXCEPT:

Companies that adopt a concentrated marketing strategy violate which of the following old sayings?