PSU marketing 221 exam 2 CHAPTER 6
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15 terms
Terms | Definitions |
|---|---|
 When a company identifies the parts of the market it can serve best and most profitably, it is practicing ________. | marketing target |
| What are the four steps, in order, to designing a customer-driven marketing strategy? | market segmentation, targeting, differentiation, and positioning |
| Even though several options are available at any one time, there ________ to segment a market. | there is no single way |
| Pendergraff Pet Supplies divides the pet market according to the owners' race, occupation, income, and family life cycle. What type of segmentation does Pendergraff use? | demographic |
| Demographic variables are so frequently used in market segmentation because they ________. | are easy to measure |
| Marketers must be careful to guard against ________ when using age and life cycle segmentation. | sterotyping |
| Marketers of automobiles, financial services, and travel are most likely to use which of the following types of segmentation? | income |
| Which type of segmentation centers on the use of the word when, such as when consumers get the idea to buy, when they actually make their purchase, or when they use the purchased item? | occasion |
| Consumers can show their allegiance to brands, stores, or companies. Marketers can use this information to segment consumers by ________. | loyal status |
| Many firms make an effort to identify smaller, better-defined target groups by using ________. | multiple segmentation bases |
| As in consumer segmentation, many marketers believe that ________ and ________ segmentation provide the best basis for segmenting business markets. | benefits; buying behavior |
| Lexus targets wealthy consumers with similar needs and buying behaviors, even though the consumers are located in different countries. This is an example of ________. | intermarket segmentation |
| When a market segment is large or profitable enough to serve, it is termed ________. | substantial |
| The market segments your company is targeting are conceptually distinguishable and respond differently to different marketing mix elements and programs. Therefore, these segments are ________. | differentiable |
| Barney Hopkins has compiled a list of things that make segments more attractive. Which of the following items should NOT be on the list? | competition with superior resources |
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