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Exam 6: Segmentation, Targeting, and Positioning

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Question 41

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Demographic variables are used for segmenting the markets very often because it is the most effective way of segmentation.

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Question 42

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A company makes packaged juices for the Canadian market, and different flavours are developed for specific regions.In this case, the segmentation approach used by the company is:

A) geographic segmentation.
B) benefit segmentation.
C) demographic segmentation.
D) occasion segmentation.
E) psychographic segmentation.

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Question 43

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A crane manufacturing company that solely manufactures and sells salvage cranes for salvage companies is using which strategy?

A company launches a wide range of perfumes.Customers can go to the company's store and combine the perfumes in different ways to create unique scents.This is an example of:

Self-respect, self-fulfillment, or a sense of belonging are typically examples of:

Customer lifetime value (CLV) refers to the:

Value is a popular positioning method that focuses on those attributes that are most important to the target market.

For a segmentation strategy to be successful, the customers in a segment must react differently to a firm's offering.

Revolve Inc., a car manufacturing company, launched a new car in the market. It promoted the car as a high-price, high-quality, and high-performance vehicle. The car was aimed at high-income customers. The tagline read, "Suite on Wheels" emphasizing the luxury and comfort provided by the car while travelling. Despite all the promotions, the car did not attract the kind of customers the company had hoped to attract. Therefore, to revive interest in the car, Revolve started offering the vehicle at a lower price, aiming it at the middle-income segment. Revolve came up with a new tagline: "A jet at a cab's price." -The car was initially targeted at customers in the high-income bracket.This kind of segmentation is called:

From a marketing point of view, self-values help determine the benefits the target market may be looking for from a product.

A toothpaste manufacturer segments its target population based on the four characteristics of toothpaste that it believes a customer requires: economic worth, medicinal value, cosmetic value, and taste.In this case, the segmentation approach used by the manufacturer is:

The degree to which firms should segment their markets depends on the balance the firms want to achieve between the added perceived customer value that segmentation can offer and its cost.

Discuss the use of value as a positioning method with examples.

Rick, a neighbourhood tailor, makes clothes according to the requirements of each of his individual customers.This is an example of:

The government of Ontario, like other provincial governments, charge the same fee to issue driver license.Any citizen who is eligible with get the same card and has to pay the same cost.This is an example of a(n) :

Tinfol Inc. manufactured perfumes and makeup for women. Its products catered to all age groups. Because of the entry of other players into the market, the market share of Tinfol registered a drastic fall. Hence, Tinfol decided to change its strategy and segmented its consumers into categories such as middle-aged moms, young and fashion-forward consumers, and baby boomers. It offered products fulfilling the needs of each of the segments. It also set up a website where customers could mix more than 20 varieties of perfumes to create a personalized scent. -In the beginning, Tinfol offered its products to women of all age groups.This is an example of a(n) :

Ace Inc.is a company that sells clothes.It has two brand names, Ace 1 and Ace Kid.Each of these brands caters to the needs of two dissimilar market segments.There are varied strategies and products for the dissimilar groups.In this case, which targeting strategy is the company using?

Benefit segmentation refers to the segmentation of consumers based on:

Geographic segmentation refers to the segmentation of consumers based on:

A lifestyle store deals with expensive and aesthetic products.Most of its target customers belong to the elite class of society who want to make a style statement associated with exclusivity.In this case, the segmentation approach used by the store is: