Chapter 7: Segmentation, Targeting, and Positioning

Question 1

Organizing customers based on how they interact with products

Answer 1

Behavioral Segmentation

Question 2

The division of markets based on consumer characteristics such as , age , gender, income, education, and family size.

Answer 2

Demographic Segmentation

Question 3

Pursuing multiple market segments with a different strategy for each

Answer 3

Differentiated Targeting

Question 4

20% of heavy users account for 80% of the total demand

Answer 4

80/20 Rule

Question 5

Divides markets into groups based on states, nations, regions, and neighborhoods

Answer 5

Geographic Segmentation

Question 6

Groups consumers with common needs and wants across the world

Answer 6

Global Segmentation

Question 7

Dividing people into groups based on opinions, interests, and activities

Answer 7

Lifestyle Segmentation

Question 8

Dividing a existing market into smaller segments with similar characteristics

Answer 8

Market Segmentation

Question 9

Consumers with shared wants, needs, and characteristics

Answer 9

Market Segments

Question 10

Pursuing a large portion of a small market

Answer 10

Niche Marketing

Question 11

Visualizes product locations relative to customers minds

Answer 11

Perceptual Map

Question 12

Influencing a target markets perception of a product

Answer 12

Positioning

Question 13

Describes the target market a product is for along with a image of how the firm wants others to see it.

Answer 13

Positioning Statement

Question 14

Dividing markets using demographics, psychology, and personality traits.

Answer 14

Psychographic segmentation

Question 15

Dividing consumers into groups based on needs and wants of a specific region or group of countries.

Answer 15

Regional Segmentation

Question 16

Reestablishing a product’s position based on the current market

Answer 16

Repositioning

Question 17

A group of consumers that a company directs its marketing towards

Answer 17

Target Market

Question 18

Evaluating each market segments to determine which maxes out sales.

Answer 18

Targeting

Question 19

Viewing the marketplace as a single segment

Answer 19

Undifferentiated Targeting

Question 20

Targets consumers within a single country

Answer 20

Unique Segmentation

Question 21

Market segmentation helps businesses by..

Answer 21

Defining the needs of their customers, designing specific strategies, and deciding how to allocate resources to gain a profit.

Question 22

Market Segments must be

Answer 22

Substantial, Measurable, Differentiable, Accessible, and Actionable

Question 23

Age, Gender, Income, Family / Marital Status

Answer 23

Demographics

Question 24

Nations, States, Regions, Neighborhoods

Answer 24

Geographic

Question 25

Psychological traits, motivations, and attiudes

Answer 25

Psychographic

Question 26

Loyalty, Price Sensitivity, Occasions, Usage Rate

Answer 26

Behavioral

Question 27

Why do population shifts occur?

Answer 27

Retirement, Natural Disasters, or Economic issues

Question 28

A segment of current customers that makes up a firms core profit

Answer 28

Heavy Users

Question 29

Demographic, Geographic, Behavioral

Answer 29

Types of B2B segmentation

Question 30

Industry, Size of Firm, Ownership structure

Answer 30

B2B Demographic Variables

Question 31

Global, Regional, Unique

Answer 31

International Segmentation

Question 32

Growth Potental, Level of Competition, and Strategic Fit

Answer 32

Factors used to select target markets

Question 33

Analyze competitors positions, define advantages, evaluate feedback

Answer 33

Steps of Marketing Postiotning

Question 34

How can a firms highlight their goods or services advantages?

Answer 34

Though the relationship between price and quality, product attributes, and application.