Marketing Management (Segmentation, Targeting and Positioning)

Traditionally, mass marketing of a consumer product results in:

• the largest potential market for that product

  
  

• 
  increased product prices due to the lack of differentiation and decreased competition

• easier channel selections

  
  

• fewer competitors because there are fewer markets

  
  

A(n) ________ market is characterized by a fairly narrowly defined market with a complete and distinct set of needs, and a willingness to pay a premium to meet those needs.

• Niche

• Individual

• Derived

  
  

• Homogeneous

  
  

The opposite of a market with homogeneous preference is a market with a ______________ preference.

• Diffused

• Stratified

  
  

• Randomized

  
  

• Clustered

The first step in market segmentation is:

• Identifying the market and defining segmentation criteria
• Developing a marketing plan
• Setting pricing strategies
• Analyzing customer feedback

A small, private college advertises that, "Students will receive a Harvard quality education for a state university tuition." This is an example of _________________ positioning.

• academic positioning
• luxury positioning
• value positioning
• brand positioning

A ________analysis is based on a customers changes in attitudes, lifestyles, and opinions.

• psychographic
• geographic
• behavioral
• demographic

Which of the following statements is true about positioning strategies?

• Positioning strategies are only relevant for online marketing.
• Positioning strategies focus solely on pricing.
• Positioning strategies help define how a product is perceived relative to competitors.
• Positioning strategies eliminate the need for market research.

The change in climate of the city, where a product is being sold will affect the __________region of the marketing plan.

• Telepathic

• Psychographic

• Demographic

• Geographic

Which market segmentation method is selected when classifications of age, gender, income, or family size is utilized?

• Geographic segmentation
• Behavioral segmentation
• Psychographic segmentation
• Demographic segmentation

Which of these answer includes ONLY examples of demographics?

• Height, weight, shoe size
• Occupation, marital status, hobbies
• Location, favorite color, pet ownership
• Age, gender, income, education level, ethnicity