Chapter Six

Question 1

Geographic segmentation

Answer 1

Dividing a market into different geographical units, such as nations,regions, cities, even neighborhoods

Question 2

Demographic segmentation

Answer 2

Devises the market into segments based off of age gender income religion

Question 3

Age and life cycle segmentation

Answer 3

Dividing a market into different age and life cycle groups

Question 4

Gender segmentation

Answer 4

Dividing A market into different segments based on gender

Question 5

I come segmentation

Answer 5

Dividing a market into different income segments

Question 6

Psychographic segmentation

Answer 6

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

Question 7

Behavioral segmentation

Answer 7

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

Question 8

Occasion segmentation

Answer 8

Dividing a market into segments according to occasions when buyers get the idea to buy a certain product

Like Christmas tree

Question 9

Benefit segmentation

Answer 9

Dividing the market into segments according to the different benefits each consumer seeks from a product

Question 10

Intermarket segmentation

Answer 10

Forming segments of consumers who have similar needs and buying behavior even though they live in different countries

Question 11

Target market

Answer 11

A set of buyers sharing common needs or characteristics the company decides to serve

Question 12

Undifferentiated marketing

Answer 12

A strategy in which a company decides to ignore market segment differences and go after the whole market with one offer

Question 13

Differentiated marketing

Answer 13

A market coverage strategy in which a firm decides to target several market segments and design separate offers to each

Question 14

Concentrated marketing

Answer 14

A market strategy in which a company goes after a large share of one or more target markets

Question 15

Micro marketing

Answer 15

The practice of tailoring products and marketing programs to suit the taste of specific individual market

Question 16

Local marketing

Answer 16

Tailoring brands and marketing to meet the needs and wants of the locals in the area

Florida sell swim suite
Not in Michigan

Question 17

Individual marketing

Answer 17

Tailoring products and marketing programs to the needs and preferences of individuals

Question 18

Product Position

Answer 18

How a product is defined by the consumer the place it occupies in the consumers mind

Question 19

Competitive advantage

Answer 19

An advantage over competitors gained by offering greater customer value either by having lower prices or providing more benefits that justify higher prices

Question 20

Value proposition

Answer 20

The full positioning of a brand the list of benefits on which it is positioned

Answers why why should I buy your brand

Question 21

Positioning statement

Answer 21

A statement that summarizes a company or brand positioning using this form: to target market or brand helps you this way