1. The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as Show
2. The purpose of market segmentation is to respond more effectively to the wants of groups of potential buyers in order to 3. A basic test of the usefulness of the market segmentation process is whether it leads to
tangible marketing actions that can 4. Market segmentation refers to 5. To be identified as a market segment, its members must 7. The phrase "relatively homogeneous collections of
prospective buyers" is most descriptive of 8. A marketing strategy that involves a firm using different marketing mix activities to help consumers perceive the product as being different and better than competing products is referred to as __________. 9. When Procter & Gamble introduced Crest toothpaste, the first fluoride toothpaste, it was intended for use by children and was
therefore given a child-appealing bubblegum flavor. Sometime later the same basic formula was given a fresh, minty flavor to appeal to adults. What is this marketing strategy called? 10. Alka-Seltzer was made originally as a hangover remedy that cured the headache and settled the stomach. Today you can buy Original Alka-Seltzer, Extra Strength Alka-Seltzer, Alka-Seltzer Morning Relief (for morning headaches and fatigue), and Alka-Seltzer
Heartburn Relief. Each Alka-Seltzer product is targeted to a slightly different market segment. The maker of Alka-Seltzer is using 11. The process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization's marketing program. 12. The process of segmenting a market and selecting specific segments as targets is the link between the
various buyers' needs and 13. Small athletic shoe manufacturers such as Vans have targeted niche markets and made shoes designed to satisfy the needs of different specific groups of customers. This strategy is an example of 14. Which of the following statements regarding market segmentation is most accurate? 15. Time magazine publishes 200 different U.S. editions each targeted at unique geographic and demographic segments using a special mix of advertisements. Time is using which of the following segmentation strategies? 16. When compared to a multiple-products-multiple-market segments strategy,
a one-product-and-multiple-market-segments strategy 17. Which of the following is an example of a multiple products and multiple markets strategy? 18. Kellogg's different types of cereals, each targeted at a different type of user, are an example
of multiple products aimed at multiple markets. Manufacturing these different cereals is clearly more expensive than producing one but seems worthwhile if it adds to the manufacturer's sales revenues and profits, doesn't reduce quality or increase price, and 20. Which of the following is an example of a "Tiffany/Wal-Mart" strategy? 21.You can go to your nearest Hallmark card store and buy a birthday greeting card for a friend and pay $4.50, or you can buy a card that's not quite as nice but just as sentimental from the store's new $.99 line of greeting cards. This is an example of 22. Tailoring goods or services to the tastes of individual customers on a high-volume scale is
referred to as 23. Custom Foot runs six retail locations. At first glance none looks any different from your basic old-fashioned shoe store, but the only boots on hand are display models. There's no inventory for sale, and customers go home empty-handed—at least initially. Customers browse the store, mixing and matching design components such as style, color, and leather type. About 100 display boots provide style guidelines. Once you choose
a boot style, you select materials, colors, and textures. Custom Foot guarantees your boots will be ready within three weeks. This is an example of 24. To create a __________ strategy, nikeid.com allows customers to visit its Web site and design a sneaker to their own personal specifications. 25. Manufacturing a product only when there is an order from a customer is referred to
as 26. The increased customer value achieved through performing organizational functions like marketing or manufacturing more efficiently is referred to as __________. 27. When new products or a new chain steals customers and sales from older existing ones it is referred to as 28. The purpose of the five key steps in segmenting and
targeting markets is to 29. The second step in segmenting and targeting markets is to 30. The third step in segmenting and targeting markets is to 32. Criteria for forming segments involve both similarities and
differences. Which of the following statements is most accurate? 33. Neilsen Claritas' PRIZM is used to classify every household into one of 66 demographical and __________ distinct neighborhood segments to identify lifestyles and purchase behavior within a defined geographic market area, such as zip code. 34.Four general categories used to segment consumer markets are geographic segmentation, demographic segmentation, __________, and behavioral segmentation. 35.Which of the following statements demonstrates the formation of a segment based on region? 36. Universal Concerts is planning on
bringing a series of concerts to Canada next year. In general, Western Canadians much prefer country music, yet in Eastern Canada a country music event is very likely to have lots of empty seats. If they can have only one venue, Universal Concerts should segment its Canadian market according to __________, if it hopes to have a sold-out concert. 37. Which of the following is a consumer demographic variable? 38. Procter & Gamble Co. (P & G) decided to skip a generation of consumers when it began to market Old Spice deodorant. The target market is men aged 18 to 34, who don't remember the Old Spice brand sold to their grandfathers many years ago. P & G is using which type of segmentation variable? 39. Which of the following statements demonstrates the formation of a segment based on household size? 40. Which of the following statements regarding segmentation bases is most accurate? 42. Magazines like Fitness, Field & Stream, Golf Digest, and Health all use a __________ segmentation strategy. 48.
People who might become users of the type of good or service your firm sells are referred to as 49. A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as __________. 50. Market-product grid refers to 51. A market-product grid is a framework to relate the market segments of potential buyers to 53.After establishing the markets and product groupings on a market-product grid the next step is to 54. One advantage of a market-product grid is that it can be used to 55. Which of the following statements regarding market segmentation is most accurate? 56.
Which of the following is a criterion for selecting a target market? 57. Which of the following is a criterion used for selecting a target segment? 59.Which of the following is a criterion used for selecting a target segment? 60. Five general criteria are often used to pick target
segments. They include the size of the market, expected growth of the market, competitive position of the firm with respect to the market, and cost of reaching the segment. What is the fifth criterion? 61.In developing a marketing strategy for the recently released Nike Air Jordan XVII with a price tag of $200, Nike decided to concentrate on affluent teens rather than members of high school
basketball teams. This is an example of 62. Doris Lewis owns Lewis Edibles, Inc., a company that makes Tongue Tinglin' B.B.Q. Sauce. She wants to target local people who like the special blend of flavors found only in North Carolina barbecue sauce. In developing a marketing strategy to sell the sauce, Lewis decided to join Goodness Grows in North Carolina, a specialty food association that advertises local products and
distributes them to local supermarkets and gourmet shops. Lewis has just 64. If a firm cannot afford to do both, it will often favor _________ over __________ because a single customer segment will likely require a variety of products, each of which will have to be designed and manufactured. 65.
The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as 66. Product positioning refers to 67. Product repositioning refers to 68.
Motts Applesauce used an advertising campaign to change the way consumers thought about applesauce from a dinnertime side dish to a replacement for cooking oil in baking. The advertising message was that using applesauce in baking cuts calories and also makes the resulting baked good healthier. Motts was using a __________ strategy. 69. Positioning that involves competing directly with competitors on similar product attributes in the same target
market is referred to as __________. 70. In the sneaker market, Reebok and Nike practice __________ positioning since both manufacturers compete in the same target market with similar product attributes. 71. Positioning that involves seeking a less competitive, smaller market niche in which to locate a brand is referred to as __________. 72. Some Timex wristwatches can be purchased for less than $30; some Rolex wristwatches carry a price tag of several thousand dollars. In general, consumers view Timex watches as being dependable, relatively accurate, and inexpensive. The Rolex brand tends to be perceived as an expensive status symbol. Timex watches can be purchased in drug stores, discount stores, and department stores in all sizes of communities. Rolex watches are distributed more selectively, and are often
available only in fine jewelry stores or specialty shops. By using distinctly different pricing and distribution strategies, the marketers of Timex and Rolex watches have attempted to 73. To avoid cannibalization within company product lines, firms often use 74. A perceptual map can be used to identify a firm's product in terms of how closely it fits the
"ideal" and where it fits in relationship to competitors. The map is based on perceptions of 75. A key to positioning a product or brand effectively is discovering the perceptions of its potential customers. In determining its positioning in the minds of customers, companies take four steps: (1) __________, (2) discover how target customers rate competing products or brands with respect to these attributes, (3) discover where the company's product or
brand is on these attributes in the minds of potential customers, and (4) act to reposition the company's product or brand in the minds of potential customers 76. A means of displaying or graphing in two dimensions, the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand, is
referred to as __________. 77. A graph displaying consumers' perceptions of product attributes in two dimensions is referred to as a? 78. Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands 79. The axes on a perceptual map are Neilsen Claritas' PRIZM is used to classify every household into one of 66 demographical and __________ distinct neighborhood segments to identify lifestyles and purchase behavior within a defined geographic market area, such as zip code. What is the place the product occupies in consumers minds relative to competing products?Product positioning refers tp the place a product occupies in consumers' minds on important attributes relative to competitive products.
Which of the following is the place a product occupies in the consumer's mind relative to competition quizlet?Product positioning refers to the place a product occupies in consumers' minds based on important attributes relative to competitive products.
Is the place a product occupies in consumers minds based on important attributes relative to competitive?Answer: Product positioning refers to the place a product occupies in consumers' minds based on important attributes relative to competitive products. Product repositioning involves changing the place a product occupies in a consumer's mind relative to competitive products.
What is the difference between product positioning and repositioning of products?A product's positioning involves what customers think about its features and how they compare it to competing products. Therefore, repositioning involves completely altering how the target market perceives the product. Repositioning is often a challenge, especially for brands that are well known to the public.
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Changing the place an offering occupies in consumers minds relative to competitive products
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