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Exam 9: Market Segmentation, Targeting, and Positioning

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Question 31

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Most magazines can be successfully marketed to consumers through mass marketing strategies.

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Question 32

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Married couples enter the "empty nest" stage once their children are grown.

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Question 33

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Cody stopped by Ferrari of Beverly Hills to look at the new Ferrari 488 Spider that just came in. Cody is obsessed with cars and would love to buy the 488, but there is a slight problem. Cody is a full-time student in his senior year of college and works part time at Olive Garden where he earns $7.75 an hour. The new 488 is listed for sale for $429,000! Cody really should not be considered part of the market for the Ferrari because he:

Market segmentation attempts to isolate traits that distinguish a certain group of consumers from the overall market.

The determination of whether pencils are consumer products or business products is based on:

Goods and services purchased by the ultimate consumer for personal use are called _____ products.

In the early 1900s, Ford Motor Company offered a single car for all customers - the Model T. Henry Ford is claimed to have said "Any customer can have a car painted any color that he wants so long as it is black." At that point, Ford took a(n) ______ approach.

In recent years, consumers have become increasingly concerned about the use of pesticide and other chemicals in the agricultural industry. Some are worried that the increased use of chemicals has led to higher incidences of disease such as cancer. Consumers who share these opinions will often purchase products labeled "organic" and "natural." Marketers who are utilizing these words on product packaging or in their promotions are implementing _______ segmentation.

A television commercial shows several enthusiastic teens smiling widely and speaking in turn directly to the camera. Using the featured skincare product has changed their lives! It costs more than what you find in the corner drugstore, but it is worth every penny! After weeks of trying one product after another, embarrassed by acne breakouts and shy about socializing with others, now they have clear faces with a healthy-looking glow! What form of product-related segmentation has driven the development of this marketing campaign?

The vast majority of firms today use an undifferentiated or mass marketing approach to segmentation.

Psychographic segmentation is the most common method of market segmentation.

A _____ marketing strategy focuses on producing several products and pricing, promoting, and distributing them with several marketing mixes designed to satisfy smaller segments.

Cecile, the chef at Chez Cecile, shops at the same farmers market that you do to buy fresh items for her restaurant. Cecile seems very knowledgeable about the vegetables she purchases, and you have started to buy the same items she does for your own consumption. When you buy vegetables for your own use, they would be considered:

Products bought by ultimate customers for personal use are known as consumer products.

Marketers use several different approaches to market segmentation. Which of these approaches is the most commonly used?

Undifferentiated marketing is also called _____.

​Market segmentation has interested you ever since your first marketing course, and you want to work for the type of organization that uses this technique. This means you should avoid pursuing a job with:

Recently a new product named Powerful Yogurt was introduced in the United States. This product is targeted toward men who often view yogurt as only for women. In fact, Powerful Yogurt is being referred to as "Brogurt" to emphasize its manliness. Powerful Yogurt is using:

Niche marketing is best suited for firms that offer highly specialized goods and services.

Geographic indicators such as job growth give useful guidance to marketers, depending on the type of products they sell.