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Exam 8: Segmentation, Targeting, and Positioning

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Question 51

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How do you create and use a perceptual map? What positioning criteria might toothpaste manufacturers use in creating a perceptual map?

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Creating a perceptual map involves five ...

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Question 52

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Assume you are the marketing consultant for your university,which wants to focus its marketing efforts on retention of current students.You have a choice of segmenting the undergraduate student market on either a geographic or psychographic basis.What is the difference between the two? Which would you recommend,and why?

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Answers will vary by the type of institu...

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Question 53

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Why must a firm's STP strategy be consistent with and derived from the firm's mission and objectives?

Education marketers have learned that the primary motivations of most nontraditional college students are self-respect and self-fulfillment.Understanding the values of this market segment allows marketers to:

Sally is in the new marketing department of a midsized lawn and garden company.She is working on the first marketing plan the firm has ever used.She has defined the mission and objectives,and she just finished a situation analysis for the firm.The next step is to:

Abigail wants to sell a local advertising calendar.She knows there are 2000 households in her community,and estimates 30 percent will buy a calendar.The printing company will charge a $400 setup fee and calendars will cost $4.00 each to print.What price will she need to charge to cover all costs and make a $2,000 total profit? Show your calculations.

Many companies use the Internet to allow consumers to design customized products; for example,Nike allows customers to order shoes with custom color combinations.This is a form of:

Firms use a differentiated targeting strategy because:

Innovators,Thinkers,Achievers,and Experiencers are VALS classifications based on:

Retail store chains often use __________ data to identify other locations with similar demographics and purchasing behavior where it might make sense to open additional stores.

When evaluating the attractiveness of the segment,if a segment is expected to react positively to the firm's offering,we say that the segment is:

Beverage companies often use television commercials with images of young people laughing and enjoying themselves on a beach or in a club.These images are designed to appeal to consumers' __________,suggesting "be like me."

The manager of Plantation River Country Club wanted members of the very upscale club to use the bar and dining facilities more frequently.He offered a two-for-one "happy hour" special but few members showed up.The manager did not have a grasp of what would make his target market:

Talbots,an upscale women's clothing store,targets college-educated women between 35 and 55 years old with average household income of $75,000 or more.This is a form of __________ segmentation.

__________ involves defining the firm's marketing mix variables so that target customers have a clear,distinctive,and desirable understanding of the firm's offerings relative to competitors' offerings.

__________ segmentation is the most common basis of consumer market segmentation because these segments are easy to define and usually easy to reach.

When selecting a target market,firms should attempt to:

VALS is the most widely used __________ segmentation tool.

Rick's Computer and Copying Center has decided to target students at a newly opened satellite campus of the university.Which of the marketing mix variables will Rick use when developing a positioning strategy for his firm? Offer specific examples.

In theory,why is micromarketing the ultimate in STP strategy? What is the weakness associated with micromarketing?