Chapter 9

Question 1

Mission and objectives

Answer 1

lets everyone know what the marketing plan will accomplish

Question 2

Situation analysis (SWOT)

Answer 2

studies of internal/external factors that effect marketing

Question 3

Segmentation, targeting, positioning (STP)

Answer 3

1) strategy or objectives
2) segmentation methods
3) evaluate segment attractiveness
4) select target market
5) identify/develop positioning

Question 4

Micromarketing

Answer 4

tailors a product or service to suit an individuals wants or needs

Question 5

Undifferentiated

Answer 5

used when product provided some benefits for every consumer

Question 6

Differentiated

Answer 6

firm targets several market segments w/ a diff offering for each

Question 7

Concentrated

Answer 7

a marketing strategy of selecting a single, primary target market and focusing all energies on providing products to fit market’s needs

Question 8

Demographic segmentation

Answer 8

age, gender, marital status, household type/size, income, geographical location

Question 9

Benefit segmentation

Answer 9

benefits: satisfy unmet needs, important for positioning

Question 10

Psychographics

Answer 10

self-values, lifestyles, how consumers describe themselves

Question 11

Values and lifestyles segments (VALS)

Answer 11

innovators, thinkers, believers, achievers, strivers, experiencers, makers or survivors

Question 12

Geodemographic segmentation

Answer 12

grouping of customers on basis of a combo of geographic, demographic, and lifestyle characteristics