STP

Question 1

major steps in the market segmentation process

Answer 1

• Market segmentation : identify bases to segment the market, develop profiles of resulting segments
• market targeting : develop measures of segment attractiveness, select the target segment(s)
• market positioning : develop positioning for each target segment, develop marketing mix for each target segment

Question 2

segmentation bases

Answer 2

behavior, psychographics, demographics, geodemographics

Question 3

behavior segmentation

Answer 3

• how people behave with respect to a particular product category or class of related products
• best predictor of future behavior is past behavior

Question 4

online behavioral targeting

Answer 4

tracks the online site-selection behavior of users so as to enable advertisers to serve targeted ads

Question 5

online ad process flows

Question 6

psychographics

Answer 6

aspects of consumers’ psychological make-ups and lifestyles as they relate to buying behavior in a particular product category (ATTITUDES, VALUES, MOTIVATION)

Question 7

types of psychographic profiles

Answer 7

1. customized : contain questionnaire related to the unique characteristics of the product category, customized to the client’s specific product category
   2.general purpose : can be purchase “off-the-shelf”, may not-up to date/relevant

Question 8

mindbase segments

Answer 8

1.expressive : try new things and experiment
2.connected : connection with families and friends
3.driven : confident
4.at capacity : pessimist about future
5.rock steady : know the right thing to do
6.down to earth : balance life
7.sophisticated : put a lot of thought into purchase
8.measure twice :active, dilligent planner
9.devoted : faith and health

Question 9

8 VALS SEGMENTS

Answer 9

1. innovators
2. thinkers
3. believers
4. achievers
5. strivers
6. experiencers
7. makers
8. survivors

Question 10

geodemographic segmentation

Answer 10

consumers who reside within geographic clusters such as zip codes or neighborhoods and also share demographic and lifestyle similarities (PRIZM NE)

Question 11

demographic segmentation

Answer 11

age, change in household composition, ethnic

Question 12

5 criteria for effective segmentation

Answer 12

1. measurable M
2. substantial S
3. accessible A
4. differentiable D
5. actionable A

Question 13

Attribute positioning

Answer 13

1. product-related
2. non-product related : usage and user imagery