Chapter 8

Question 1

Market segmentation = ________ markets into ______ of consumers with ______ needs

Answer 1

divide
subsets
common

Question 2

Targeting = select segments of _________ consumers

Answer 2

prospective

Question 3

Positioning = Communicate _________ that product/service provides

Answer 3

benefits

Question 4

Segmentation steps

Answer 4

1. Strategy or objective
2. segmentation methods
   - Geographic
   - Demographic
   - Psychographic
   - Benefit
   - Behavioral

Question 5

Geographic

Answer 5

Continent, places

Question 6

Demographic

Answer 6

Age, gender, income, marital status, household type and size

Question 7

Psychographic

Answer 7

Lifestyle, self-concept, self-values

Question 8

Benefit

Answer 8

Convenience, economy, prestige; satisfy unmet consumer needs

Customer know what they’re getting

Question 9

Behavioral

Answer 9

Occasion and loyalty

Question 10

Targeting steps

Answer 10

3. Evaluate segment attractiveness

4. Select a target market

Question 11

Segment attractiveness

Answer 11

• Substantial:
• Reachable:
• Responsive:
• Profitable:
• Identifiable:

Question 12

Target markets

Answer 12

• Differentiated
• Concentrated
• Micromarketing
• Undifferentiated/Mass

Question 13

Positioning steps

Answer 13

5. Positioning statement

Question 14

Positioning statement

Answer 14

value, symbol, competition

Question 15

Gender positioning (discussed in class)

Answer 15

lens crafters, coke and diet coke, protein powder

Question 16

• Values and Lifestyles Segments (VALS)
• Innovators (High Resources)
• Thinkers (Ideals)
• Believers (Ideals)
• Achievers (Achievement)
• Strivers (Achievement)
• Experiencers (Self-Expression)
• Makers (Self-Expression)
• Survivors (low resources)

Answer 16

• Innovators:
• Thinkers:
• Believers:
• Achievers:
• Strivers:
• Experiencers:
• Makers:
• Survivors: