Chapter 6

Question 1

four market segmentation strategies

Answer 1

1. mass marketing - broad appeal to entire market
2. segment marketing
3. niche marketing - limited product line to a narrow but profitable segment
4. individualized marketing - customizing offers to adjust to individualized needs

Question 1

four variables for target market

Answer 1

1. geographics- where target market lives
2. demographics- identity of target consumers
3. psychographics- understanding consumers attitude to life
4. behaviouristics- why a consumer buys a product

Question 2

6 steps in marketing segmentation

Answer 2

1. indentifying customer needs
   2.creating meaningful segments
2. estimating size and feasibility
3. identifying target segment
4. targeting market actions
5. monitoring and evaluating success

Question 3

product positioning

Answer 3

the image of a branded product in a consumers mind relative to competition

Question 4

repositioning

Answer 4

shifting of the product image and adjusting its market mix

Question 5

positioning statement

Answer 5

clearly and simply outline the positioning of a product

Question 6

positioning maps

Answer 6

visually represent how products or product groups are positioned within category to consumers