FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 7: Segmentation, Targeting, and Positioning

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 21

Multiple Choice

Review LaterAdd Note

Review Later

The 80/20 rule is a theory that suggests that

A) 80 percent of a firm's profits is generated from 20 percent of its product line.
B) 20 percent of the total demand for products comes from 80 percent of the target market.
C) 20 percent of heavy users account for 80 percent of the total demand.
D) 20 percent of a firm's products are never marketed to 80 percent of consumers.
E) 80 percent of a firm's products are marketed to only 20 percent of the population.

Correct Answer

verified

Show Answer

Question 22

True/False

Review LaterAdd Note

Review Later

Global segmentation usually results in market segments made up of young people,those that have money to spend,or those with access to the Internet.

Correct Answer

verified

Show Answer

Question 23

Multiple Choice

Review LaterAdd Note

The first step marketers should take when deciding how best to position their product is to

According to your text,what tool provides an excellent framework to determine if a firm will be successful targeting a specific segment?

As it relates to marketing,segmenting and positioning are essentially the same thing.

Market segmentation helps firms in three ways: by helping to define the needs and wants of the customers most interested in buying the firm's products,by helping to design the specific marketing strategies for the specific segments,and by helping firms decide to allocate their marketing resources in a way that maximizes ______.

Market segmentation refers to

Which of the following is not characteristic of gathering the information needed to engage in international market segmentation?

The potential savings in developing and marketing the product is the major advantage of

A successful positioning statement should include the competitive advantages of the product.

A _____ _____ is a competitive analysis tool that creates a visual picture of where products are located in consumers' minds.

Repositioning refers to re-segmenting a target market that failed to produce enough buyers for a product.

When marketers segment based on psychographics,the market is divided into groups according to the reason the consumer made the purchase.

The VALS framework classifies adults into eight psychographic groups: Innovators,Thinkers,Believers,Achievers,Strivers,Experiencers,Makers,and

According to your text,when selecting a target market,firms should consider three important factors: growth potential,level of competition,and

When a firm is reasonably certain that its marketing mix can inform consumers about the product,how it adds value to the consumer,and ultimately how to purchase it,then the firm rates favorably on which market segment criteria?

Quentin is a realtor selling high-end homes priced over $750,000.Before showing a property to prospective clients,Quentin makes sure they are pre-qualified for a home loan commensurate with the price of the house.This pre-qualification is based mainly on the client's income,which is what type of segmentation variable?

The process of dividing a larger market into smaller groups based on meaningfully shared characteristics is called positioning.

Firms should consider three important factors during the targeting process: growth potential,level of competition and strategic fit.

The VALS framework identifies three primary motivations: ideals,self-expression,and _______.