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Exam 9: Identifying Market Segments and Targets

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Question 51

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If your assignment was to create a value proposition and product-price positioning strategy for each segment, based on the segment's unique customer needs and characteristics, you would be in which of the following steps of the segmentation process?

A) needs-based segmentation
B) segment identification
C) segment attractiveness
D) segment positioning
E) segment "acid-test"

F) B) and C)
G) C) and D)

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Question 52

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With respect to market offerings, if a marketer emphasizes a naked solution, he or she is emphasizing the product and service elements that all segment members value.

A) True
B) False

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Question 53

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Hard-core loyals can show the firm which brands are most competitive with its own.

Illustrations of personality segmentation would include culture-oriented, sports-centered, or outdoor-oriented subsegments.

List the threats posed by the five forces identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment.

The most attractive segment is one in which entry barriers are low and exit barriers are high.

According to the VALS segmentation system, ________ are considered to be trendy and fun-loving people who are resource-constrained. They favor stylish products that emulate the purchases of those with greater material wealth.

A company can be said to have used ________ if the company distinguished among customers buying on the basis of price, service, and quality.

A segment is unattractive if the company's suppliers are able to raise prices or reduce quantity supplied.

Door-to-door workers in a political campaign use attitude to determine how much time to spend with each voter.

An attractive niche consists of customers having a distinct set of needs.

Those who favor localized marketing see national advertising as wasteful because it ________.

During which step of the segmentation process would the marketer group customers into segments based on similar needs and benefits sought by the customer in solving a particular consumption problem?

The main dimensions of the VALS segmentation framework are consumer motivation and consumer resources.

People in the same demographic group generally exhibit similar psychographic profiles.

Regardless of the type of segmentation scheme used, the key is adjusting the marketing program to recognize ________.

The horizontal dimension in the VALS framework is ________.

The characteristic of useful market segments that relates to whether the segments can be effectively reached and served is whether the segment is ________.

If a marketer decides to segment a market based on neighborhoods, the marketer will have chosen the ________ method of segmentation.

According to PRIZM, the ________ cluster is characterized by educated, midscale, and multiethnic, urban couples in America's fast-growing cities. Concentrated in a handful of metropolitan areas such as Las Vegas, Miami, and Albuquerque, these households feature older home owners, empty nesters, and college graduates.