ch 6

Question 1

demographic segmentation

Answer 1

marketers divide the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation

Question 2

market targeting

Answer 2

evaluating each market segment’s attractiveness and selecting one or more segments to enter

Question 3

positioning

Answer 3

arranging for a market offering to occupy a clear, distinctive, and desirable place

Question 4

geographic segmentation

Answer 4

dividing a market into different units such as nations, states, regions, counties, cities, or even neighborhoods

Question 5

micromarketing

Answer 5

tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments

Question 6

concentrated marketing

Answer 6

market-coverage strategy in which a firm goes after a large share of one or a few segments or niches

Question 7

local marketing

Answer 7

tailoring brands and marketing to the needs and wants of local customer segments—cities, neighborhoods, and even specific stores

Question 8

individual marketing

Answer 8

tailoring products and marketing programs to the needs and preferences of individual customers

Question 9

unique selling proposition

Answer 9

a specific attribute that a company chooses about a brand and touts as “number one” in regards to that attribute

Question 10

value proposition

Answer 10

full mix of benefits on which a brand is positioned

Question 11

competitive advantage

Answer 11

gained by offering greater customer value, either by having lower prices or providing more benefits that justifies higher prices

Question 12

product position

Answer 12

consumers on important attributes—the place the product occupies in consumers’ minds relative to competing products

Question 13

psychographic segmentation

Answer 13

dividing a market into different segments based on social class, lifestyle, or personality characteristics

Question 14

behavioral segmentation

Answer 14

dividing a market into segments based on consumer knowledge, attitudes, uses, or response to a product

Question 15

occasion segmentation

Answer 15

dividing a market into segments according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item

Question 16

market segmentation

Answer 16

dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes

Question 17

differentiation

Answer 17

distinguishing a market offering from other offerings in order to create superior customer value

Question 18

value proposition

Answer 18

the full mix of benefits on which a brand is positioned

Question 19

product differentiation

Answer 19

brands can be differentiated on features, performance, or style and design

Question 20

intermarket segmentation

Answer 20

marketers form segments of consumers who have similar needs and buying behaviors even though they are located in different countries

Question 21

Segmenting by political and legal factors involves segmenting by __________.

Answer 21

the type and stability of government, receptivity to foreign companies, monetary regulations, and amount of bureaucracy

Question 22

Cultural factors group markets according to __________.

Answer 22

common languages, religions, values and attitudes, customs, and behavioral patterns