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Exam 7: Segmentation, Targeting, and Positioning

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Question 41

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Marketers concerned about strategic fit when selecting a target market may use a ________ analysis to determine if the firm will be successful targeting a specific segment.

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Question 42

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An advantage to using a perceptual map is that it

A) shows the firms strengths, weaknesses, opportunities and threats.
B) shows which products of a firm are most profitable.
C) shows how other companies are marketing their products.
D) can highlight potential market positions that might be underserved.
E) it is the quickest way to determine market segments.

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Question 43

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The competitive analysis tool that creates a visual picture of where products are located in consumers' minds is called a

According to the VALS framework, why different consumer groups exhibit different behaviors or why different consumer groups exhibit the same behaviors for different reasons is based on

Brynn has always wanted to open a hair salon. While Brynn has experience in cutting and styling hair, she always gets amazing reviews for her specialty hair coloring abilities. So, rather than open a hair salon that offers a wide variety of cuts and styles, Brynn has decided to open a specialty hair salon solely devoted to the needs of individuals who regularly color their hair. This is an example of

Unique segmentation is used when the similarity in needs and wants only extends across the region or several countries.

Market ________ are the relatively homogenous groups of consumers that result from the segmentation process.

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

A defined in your text, market segmentation involves dividing a larger market into smaller market segments based on

Colin has opened up a new sports bar/restaurant in town. He has determined that his market segments are (1) students from the nearby college campus, (2) families with small children, and (3) young adult males. Colin now has to determine which of these segments will provide him with the best opportunity to maximize sales. The process of doing this is referred to as

The second step in deciding how to best position a product is to clearly define the firm's ________ ________.

It has been Tara's dream to open a bakery, and while she has experience in making all types of baked goods, she always gets rave reviews for her hand-decorated cakes. So, rather than open a bakery that offers a wide variety of baked goods, Tara has decided to open a specialty cake shop to cater to that market only. This is an example of

As it pertains to international segmentation, global segmentation refers to identifying

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

Which factor is a demographic segmentation variable?

Firms will often use a _________ segmentation strategy when they want to capitalize on the financial savings of global segmentation but still adjust for local customs and culture.

Which international segmentation base usually results in market segments made up of young people, those that have more money to spend, or those with access to the Internet?

Which statement best characterizes international market segmentation?

Which is considered to be a behavioral segmentation variable?

Maria's firm manufactures homemade salsa. Her product is sold around the country, but she adds extra jalapenos to her product sold in Texas, New Mexico, and Arizona because those customers prefer the extra heat and spice. Maria also markets the product differently based on the region of the country where it is sold. This represents what type of targeting strategy?