ch8 identifying market segments and targets yabut
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TOP 10 Learning Questions for
Chapter 08: Identifying Market Segments and
Targets
Arvin YabutDecember 15, 2011
1. Which of the following best describes what a market segment is?
A. A market segment consists of different groups of customers who share a similar set of needs and wants
B. A market segment consists of a group of customers who share a similar set of needs and wants
C. A market segment consists of a group of customers who share different sets of needs and wants
D. A market segment is a group of people who have a defined range of standards of living.
E. A market segment consists of different groups of customers who share different sets of needs and wants.
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Book Definition
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Source: Kotler’s Marketing Book – 13th edition
Page 248 A market segment consists of a group of customers who
share a similar set of needs and wants.
Book Definition
4
Source: Kotler’s Marketing Book – 13th edition
Page 248 A market segment consists of a group of customers who
share a similar set of needs and wants. Keywords:
Group of customers Similar set Needs and wants
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1. Which of the following best describes what a market segment is?
A. A market segment consists of different groups of customers who share a similar set of needs and wants
B. A market segment consists of a group of customers who share a similar set of needs and wants
C. A market segment consists of a group of customers who share different sets of needs and wants
D. A market segment is a group of people who have a defined range of standards of living.
E. A market segment consists of different groups of customers who share different sets of needs and wants.
2. Which of the following is not a level of micromarketing?
A. Individual MarketingB. Segment MarketingC. Criterion MarketingD. Local MarketingE. Niche Marketing
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4 Levels of Micromarketing
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4 Levels of Micromarketing
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Process of elimination tells usthat there’s no such thing as “Criterion Marketing”
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2. Which of the following is not a level of micromarketing?
A. Individual MarketingB. Segment MarketingC. Criterion MarketingD. Local MarketingE. Niche Marketing
3. In psychometric segmentation, which group with higher resources tend to seek durability, functionality, and value in products?
A. ThinkersB. ExperiencerC. ScholarsD. InnovatorsE. Achievers
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VALS Framework
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VALS Framework
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Innovators: reflect cultivated tastes for relatively upscale products & services Thinkers: seek durability, functionality, and value in products Achievers: favor premium products for success Experiencer: spend for fashion, entertainment, and socializing Scholars: does not exist; trick choice
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A. ThinkersB. ExperiencerC. ScholarsD. InnovatorsE. Achievers
3. In psychometric segmentation, which group with higher resources tend to seek durability, functionality, and value in products?
4. What is the loyalty status of consumers who are loyal to two or three brands?
A. Shifting loyalsB. SwitchersC. Split loyalsD. Hard-core loyalsE. Major loyals
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Brand Loyalty
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Hard-core Loyals
Split LoyalsShifting Loyals
Switchers
Brand Loyalty
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Hard-core Loyals - who buy the brand all the time. Split Loyals - loyal to two or three brands. Shifting Loyals - moving from one brand to another. Switchers - with no loyalty
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4. What is the loyalty status of consumers who are loyal to two or three brands?
A. Shifting loyalsB. SwitchersC. Split loyalsD. Hard-core loyalsE. Major loyals
5. In evaluating and selecting the market segments, which of the following refers to serving many needs of a particular customer group?
A. Single-Segment ConcentrationB. Selective SpecializationC. Product SpecializationD. Market SpecializationE. Full-Market Coverage
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Book Definition
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Source: Kotler’s Marketing Book – 13th edition
Page 268 Evaluating and Selecting the Market
Segments
Book Definition
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Market Specialization
The firm concentrates on serving many needs of a particular customer group.
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5. In evaluating and selecting the market segments, which of the following refers to serving many needs of a particular customer group?
A. Single-Segment ConcentrationB. Selective SpecializationC. Product SpecializationD. Market SpecializationE. Full-Market Coverage
6. What approach can be done to broaden the customer base in case of oversegmenting the market?
A. MegamarketingB. ResegmentationC. Segment ReviewD. CustomerizationE. Countersegmentation
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Book Definition
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Source: Kotler’s Marketing Book – 13th edition
Page 270 Evaluating and Selecting the Market
Segments
Book Definition
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Companies should be cautious about oversegmenting their markets. They may
wantto turn to countersegmentation to
broaden the customer base.
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6. What approach can be done to broaden the customer base in case of oversegmenting the market?
A. MegamarketingB. ResegmentationC. Segment ReviewD. CustomerizationE. Countersegmentation
7. What are the three activities for target marketing?
A. Market Targeting, Market Segmentation, Market Niching
B. Market Positioning, Market Segmentation, Market Localization
C. Market Segmentation, Market Penetration, Market Positioning
D. Market Customization, Market Segmentation, Market Targeting
E. Market Positioning, Market Targeting, Market Segmentation
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Book Definition
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Book Definition
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S.T.P.SegmentationTargetingPositioning
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7. What are the three activities for target marketing?
A. Market Targeting, Market Segmentation, Market Niching
B. Market Positioning, Market Segmentation, Market Localization
C. Market Segmentation, Market Penetration, Market Positioning
D. Market Customization, Market Segmentation, Market Targeting
E. Market Positioning, Market Targeting, Market Segmentation
8. What is the strategic coordination of economic, psychological, political, and public relations skills, to gain the cooperation of a number of parties in order to enter or operate in a given market.
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A. MegamarketingB. ResegmentationC. Segment ReviewD. CustomerizationE. Countersegmentation
External environment + Marketing Variables
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Manage these elements!
External environment + Marketing Variables
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Megamarketing• economic• psychological• political• public relations
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A. MegamarketingB. ResegmentationC. Segment ReviewD. CustomerizationE. Countersegmentation
8. What is the strategic coordination of economic, psychological, political, and public relations skills, to gain the cooperation of a number of parties in order to enter or operate in a given market.
9. What type of preference segment results when natural market segments emerge from groups of consumers with shared preferences?
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A. Homogeneous preferencesB. Diffused preferencesC. Clustered preferencesD. Heterogeneous preferencesE. None of the above
Book Definition
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Source: Kotler’s Marketing Book – 13th edition
Page 249 Market Segmentation
Book Definition
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Homogenous Preference: when all consumers have the same preferences Diffused Preference: vary greatly in their preferences Clustered Preference: when natural market segments
emergefrom groups of consumers with shared preferences
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9. What type of preference segment results when natural market segments emerge from groups of consumers with shared preferences?
A. Homogeneous preferencesB. Diffused preferencesC. Clustered preferencesD. Heterogeneous preferencesE. None of the above
10. The following effective segmentation criteria would be measureable, substantial, accessible, differentiable, and __________.
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A. AttainableB. ActionableC. ArguableD. AchievableE. None of the above
5-Key Criteria
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5-Key Criteria
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“Actionable” is the last criterion!
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10. The following effective segmentation criteria would be measureable, substantial, accessible, differentiable, and __________.
A. AttainableB. ActionableC. ArguableD. AchievableE. None of the above
TOP 10 Learning Questions for
Chapter 08: Identifying Market Segments and
Targets
Arvin YabutDecember 15, 2011
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