chapter 8 make your mark version 2
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TOP 10 Learning Questions for
Chapter 8: Identifying Market Segments and
Targets
Allan Ray C. EnriquezSeptember 24, 2010
A. SegmentB. NicheC. Local areaD. IndividualE. Firm
2
Question
1. is a more narrowly defined customer group seeking a distinctive mix of benefits.
There are four levels of Micromarketing
3
Concept
Segments Niches
Local areas Individuals
Markets can be targeted at four (4) levels: segments, niches, local areas and individuals.
4
Explanation of Concept
Segments Niches
Local areas Individuals
Segments: large and identifiable groups
Niche: more narrowly defined group with distinctive mix of benefits
Local area: local customer groups (i.e. neighborhoods, individual stores)
Individuals: particular customers with their customized needs and wants.
1. is a more narrowly defined customer group seeking a distinctive mix of benefits.
A. SegmentB. NicheC. Local areaD. IndividualE. Firm
5
Answer
A. AgeB. Family sizeC. Social classD. Life stageE. Race
6
Question
2. defines a person’s major concern.
Demographic Segmentation
7
Concept
Age and Life Cycle
Life Stage
Gender
Income
Generation
Social Class
Life stage defines a person’s major concern.
8
Explanation of Concept
Life stage may mean going through a divorce, going into a second marriage, taking care of an older parent, deciding to cohabit with another person, deciding to buy a new home and others.
Age and Life Cycle
Life Stage
Gender
Income
Generation
Social Class
2. defines a person’s major concern.
A. AgeB. Family sizeC. Social classD. Life stageE. Race
9
Answer
A. SegmentsB. GroupsC. NichesD. Local AreasE. Individuals
10
Question
3. Target markets are the following except:
There are four levels of Micromarketing
11
Concept
Segments Niches
Local areas Individuals
Four levels of Micromarketing
12
Explanation of Concept
Segments Niches
Local areas Individuals
As Kotler defined, there are four (4) levels of marketing.
3. Target markets are the following except:
A. SegmentsB. GroupsC. NichesD. Local AreasE. Individuals
13
Answer
A. measurableB. differentiableC. accessibleD. flexibleE. actionable
14
Question
4. Market segments, to be useful, must be ALL except:
Effective Segmentation Criteria
15
Concept
Measurable
Substantial
Accessible
Differentiable
Actionable
To be useful, market segments must rate on five (5) key criteria:
16
Explanation of Concept
Measurable
Substantial
Accessible
Differentiable
Actionable
Measurable: size, purchasing power and other characteristics should be measured.
Substantial: should be large and profitable to serve.
Accessible: can be effectively reached and served.
Differentiable: should be conceptually distinguishable.
Actionable: effective programs can be formulated.
4. Market segments, to be useful, must be ALL except:
A. measurableB. differentiableC. accessibleD. flexibleE. actionable
17
Answer
A. Men and women have different attitudes based partly on genetic makeup and socialization.
B. People in the same part of the life cycle may differ in their life stage.
C. Income always predict the best customers for a given product.
D. Each generation is influenced by the times in which it grows up.
E. Social class has a strong influence on preferences.
18
Question
5. Which of the following is FALSE?
Demographic Segmentation
19
Concept
Age and Life Cycle
Life Stage
Gender
Income
Generation
Social Class
In demographic segmentation, we divide market into groups and variables:
20
Explanation of Concept
Age, family size, family life cycle, gender income, occupation, education, religion, race, generation, nationality and social class.
Income segmentation is a long-standing practice in such categories such as automobiles, clothing, cosmetics, etc. However, income does not always predict the best customers for a given product.
Age and Life Cycle
Life Stage
Gender
Income
Generation
Social Class
5. Which of the following is FALSE?
A. Men and women have different attitudes based partly on genetic makeup and socialization.
B. People in the same part of the life cycle may differ in their life stage.
C. Income always predict the best customers for a given product.
D. Each generation is influenced by the times in which it grows up.
E. Social class has a strong influence on preferences.
21
Answer
A. Segments can be served when available.
B. The segments should be targeted to small groups for tailored marketing.
C. Segments are conceptually similar to each other.
D. Size and characteristics of the segments cannot be quantified.
E. Effective programs can be formulated for attracting and serving the segments. 22
Question
6. All statements for market segments to be useful are FALSE except:
Effective Segmentation Criteria
23
Concept
Measurable
Substantial
Accessible
Differentiable
Actionable
To be useful, market segments must rate on five (5) key criteria:
24
Explanation of Concept
Measurable
Substantial
Accessible
Differentiable
Actionable
Measurable: size, purchasing power and other characteristics should be measured.
Substantial: should be large and profitable to serve.
Accessible: can be effectively reached and served.
Differentiable: should be conceptually distinguishable.
Actionable: effective programs can be formulated.
6. All statements for market segments to be useful are FALSE except:
A. Segments can be served when available.
B. The segments should be targeted to small groups for tailored marketing.
C. Segments are conceptually similar to each other.
D. Size and characteristics of the segments cannot be quantified.
E. Effective programs can be formulated for attracting and serving the segments. 25
Answer
A. SegmentB. NicheC. Local D. IndividualE. Global
26
Question7. Manila Beer’s strategy is an example way of marketing.
There are four levels of Micromarketing
27
Concept
Segments Niches
Local areas Individuals
Manila Beer repackaged itself and reintroduced last June 2010*.
28
Explanation of Concept
Manila Beer was relaunched June 25, 2010 in celebration of Manila Day as well.Source: http://recyclebinofamiddlechild.blogspot.com/2010/06/manila-beer-rocks-manila-day.html
Target marketing leads to marketing programs tailored to the needs and wants of local customer groups.
7. Manila Beer’s strategy is an example way of marketing.
A. SegmentB. NicheC. Local D. IndividualE. Global
29
Answer
A. Age and Life-Cycle B. Life C. Gender D. Social ClassE. Generation
30
Question
8. RunRio’s marketing is focused to runners. This type of segmentation is focused primarily to stage.
Demographic Segmentation
31
Concept
Age and Life Cycle
Life Stage
Gender
Income
Generation
Social Class
Running has been dubbed as the “new badminton.” From merely 2,000 participants, races has increased to 10,000 this year.*
32
Explanation of Concept
Generations are influenced by the times in which it grows up but at times different generations influence other generations because of relationship (i.e., family).
Source: Rudy Biscocho, Runner’s World Philippines 2nd Issue, July 2010
8. RunRio’s marketing is focused to runners. This type of segmentation is focused primarily to stage.
A. Age and Life-Cycle B. Life C. Gender D. Social ClassE. Generation
33
Answer
A. Local marketingB. HypermarketingC. MegamarketingD. Mass marketingE. Niche marketing
34
Question
9. Colgate’s strategy of including sensitive teeth consumers in their market is a way of
.
Markets can be targeted at four (4) levels: segments, niches, local areas and individuals.
35
Explanation of Concept
Segments Niches
Local areas Individuals
Segments: large and identifiable groups
Niche: more narrowly defined group with distinctive mix of benefits
Local area: local customer groups (i.e. neighborhoods, individual stores)
Individuals: particular customers with their customized needs and wants.
Sensodyne has been known for its toothpaste customized for sensitive teeth until Colgate released its product this year.*
36
Explanation of Concept
Colgate, being a toothpaste company, added its product, Sensitive Pro-Relief to well understand its customers’ needs.
Source: http://www.123jump.com/market-update/Colgate-Palmolive-Q4-Earnings-Call-Transcript/36333/21
9. Colgate’s strategy of including sensitive teeth consumers in their market is a way of .
A. Local marketingB. HypermarketingC. MegamarketingD. Mass marketingE. Niche marketing
37
Answer
A. Segment B. Niche C. LocalD. Individual E. Mass
38
Question10. Sunsilk’s Co-creations’ strategy is this kind of marketing.
Markets can be targeted at four (4) levels: segments, niches, local areas and individuals.
39
Explanation of Concept
Segments Niches
Local areas Individuals
Segments: large and identifiable groups
Niche: more narrowly defined group with distinctive mix of benefits
Local area: local customer groups (i.e. neighborhoods, individual stores)
Individuals: particular customers with their customized needs and wants.
This year Sunsilk created Co-Creations by world-renowned international experts when it comes to haircare.*
40
Explanation of Concept
Customized marketing is empowering consumers by designing products and services of their choice.
Source http://mrsmartinezravesandrants.blogspot.com/2010/07/sunsilk-co-creations-media-launch.html
10. Sunsilk’s Co-creations’ strategy is this kind of marketing.
A. Segment B. Niche C. LocalD. Individual E. Mass
41
Answer
Chapter 8: Identifying Market Segments and
Targets
Allan Ray C. EnriquezSeptember 24, 2010
TOP 10 Learning Questions for
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