midterm questions
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Chapter 8- Identifying Market Segments and TargetsTRANSCRIPT
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TOP 10 Learning Questions for
(Chapter 8- Identifying Market Segments and
Targets)
Nailah P. CristobalDecember 16, 2011
Marketing Management Class of Prof. Remigio Joseph De Ungria
http://nailah08.blogspot.comColorful Me
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1. A ______ is a more narrowly defined customer group
seeking a distinctive mix of benefits.
A. SegmentB. Local AreaC. PlaceD. NicheE. Individual
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Four Levels of Micromarketing
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Segments
Local Areas
Niches
Individuals
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What does an attractive niche look like?
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• fairly small but has size, profit, and growth potential
• unlikely to attract many other competitors
• gains certain economies through specialization
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1. A ______ is a more narrowly defined customer group
seeking a distinctive mix of benefits.
A. SegmentB. Local AreaC. PlaceD. NicheE. Individual
5http://nailah08.blogspot.com
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2. Which is not a part of segmenting consumer
markets?
A. BehavioralB. GeographicC. PsychographicD. DemographicE. Cultural
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Segmenting Consumer Markets
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Geographic
Demographic
Psychographic
Behavioral
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Segmenting Consumer Markets
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Geographic
Demographic
Psychographic
Behavioral
divide the market intogeographical units such as nations
states, regions, countries, cities
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divide the market into variables such as age and life cycle,life stage, gender, income,
generation, social class
divide the market into groupson the basis of psychological/
personality traits, lifestyle,or values
divide the market on the basisof their knowledge, attitude &
response to a product
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2. Which is not a part of segmenting consumer
markets?
A. BehavioralB. GeographicC. PsychographicD. DemographicE. Cultural
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3. How many roles do people play in a buying decision?
A. FourB. FiveC. SixD. ThreeE. Two
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Behavioral Segmentation
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5 Decision Roles
• Initiator
• Influencer
• Decider
• Buyer
• User
Behavioral Variables
• Occasions
• Benefits
• User Status
• Usage Rate
• Buyer Readiness
• Loyalty Status
• Attitude
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Decision Roles
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5 Decision Roles
• Initiator
• Influencer
• Decider
• Buyer
• User
Assume a wife initiates a request that she wants a new macbook on her birthday. The husband may then seek advice from his best friend who has a macbook and is a key influencer in what models to consider. After presenting the alternative choices to his wife , he then purchases her preferred model which, as it turns out, ends up being used by the entire family .
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3. How many roles do people play in a buying decision?
A. FourB. FiveC. SixD. ThreeE. Two
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4. ___________ are consumers who buy only one brand all the time.
A. Split LoyalsB. SwitchersC. Hard-core LoyalsD. Shifting LoyalsE. Loyalists
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Loyalty Status
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Hard-coreLoyals
Split Loyals
Shifting Loyals
Switchers
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4 Groups based on Loyalty Status
Hard-core loyals-Consumers who buy only one brand all the time.
Split loyals-Consumers who are loyal to two or three brands.
Shifting loyals-Consumers who shift loyalty from one brand to another.
Switchers-Consumers who show no loyalty to any brand.
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4. ___________ are consumers who buy only one brand all the time.
A. Split LoyalsB. SwitchersC. Hard-core LoyalsD. Shifting LoyalsE. Loyalists
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5. Which statement is false?
A. The size, purchasing power, and characteristics of the segments can be measured.
B. The segments are small and profitable enough to serve.
C. The segments can be effectively reached and served.
D. The segments are conceptually distinguishable.
E. Effective programs can be formulated for attracting and serving the segments.
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Effective Segmentation Criteria
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Measurable
Substantial
Accessible
Differentiable
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Actionable
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Effective Segmentation Criteria
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Measurable
Substantial
Accessible
Differentiable
http://nailah08.blogspot.com
Actionable
• size, purchasing power & characteristics can be measured
• should be large and profitable enough to serve
• can be effectively reached and served
• can be distinguishable and responsive to marketing mix
• Should formulate effective programs to attract and serve
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5. Which statement is false?
A. The size, purchasing power, and characteristics of the segments can be measured.
B. The segments are small and profitable enough to serve.
C. The segments can be effectively reached and served.
D. The segments are conceptually distinguishable.
E. Effective programs can be formulated for attracting and serving the segments. 21http://nailah08.blogspot.com
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6. The ____________ Model measures the strength of consumers' psychological commitment to brands and their openness to change.
A. AdaptationB. InnovationC. ConversionD. ModificationE. Qualification
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The Conversion Model
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Convertible Shallow Average
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Entrenched
Users Non-Users
Strongly Unavailable
Weakly Unavailable Ambivalent Available
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The Conversion Model
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Convertible
Shallow
Average
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Entrenched
• most likely to defect
• uncommitted to the brand and could switch
• committed to the brand and unlikely to switch (short term)
• highly unlikely to switch in foreseeable future
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6. The ____________ Model measures the strength of consumers' psychological commitment to brands and their openness to change.
A. AdaptationB. InnovationC. ConversionD. ModificationE. Qualification
25http://nailah08.blogspot.com
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7. __________ determines which demographics, lifestyles, and usage behaviors make the segment distinct.
A. Segment IdentificationB. Segment AttractivenessC. Segment ProfitabilityD. Segment PositioningE. Segment “Acid Test”
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Steps in Segmentation Process
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Needs-based Segmentation
Segment Identification
Segment Attractiveness
Segment Profitability
Segment Positioning
Segment Acid Test
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For each needs-based segment, determine which demographics, lifestyles, and usage behaviors make the segment distinct and identifiable (actionable) .
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Segment Identification
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7. __________ determines which demographics, lifestyles, and usage behaviors make the segment distinct.
A. Segment IdentificationB. Segment AttractivenessC. Segment ProfitabilityD. Segment PositioningE. Segment “Acid Test”
29http://nailah08.blogspot.com
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8. To what particular segment does this question relate to, “What geographical area should we serve?”
A. Operating VariableB. Purchasing ApproachesC. Personal CharacteristicsD. DemographicE. Situational Factors
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Segmenting for Business Markets
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Demographic
Operating Variable
Purchasing Approaches
Situational Factors
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Personal Characteristics
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Segmenting for Business Markets
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Demographic
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1. Industry: Which industries should we serve? 2. Company size: What size companies should we serve? 3. Location-What geographical areas should we serve?
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8. To what particular segment does this question relate to, “What geographical area should we serve?”
A. Operating VariableB. Purchasing ApproachesC. Personal CharacteristicsD. DemographicE. Situational Factors
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9. ________ can be defined in terms of the time of day, week, month, year, or in terms of other well-defined temporal aspects of a consumer's life.
A. OccasionsB. BenefitsC. User StatusD. Usage RateE. Buyer- Readiness
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Behavioral Segmentation
35
5 Decision Roles
• Initiator
• Influencer
• Decider
• Buyer
• User
Behavioral Variables
• Occasions
• Benefits
• User Status
• Usage Rate
• Buyer Readiness
• Loyalty Status
• Attitude
http://nailah08.blogspot.com
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Behavioral Segmentation
36
During the 1960’s-70’s, cranberry was just consumed as a side-dish during thanksgiving. Because of pesticide scare, growers thought of a way to diversify and create a year round market by producing cranberry juice.
Behavioral Variable
• Occasions
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9. ________ can be defined in terms of the time of day, week, month, year, or in terms of other well-defined temporal aspects of a consumer's life.
A. OccasionsB. BenefitsC. User StatusD. Usage RateE. Buyer- Readiness
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10. What type of non-users are most likely to be acquired based on the Conversion Model?
A. Strongly UnavailableB. Weakly UnavailableC. AmbivalentD. UnavailableE. Available
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The Conversion Model
39
Convertible Shallow Average
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Entrenched
Users Non-Users
Strongly Unavailable
Weakly Unavailable Ambivalent Available
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Non Users
Strongly unavailable (unlikely to switch to the brand-their preference lies strongly with their current brands)
Weakly unavailable (not available to the brand because their preference lies with their current brand, although not strongly)
Ambivalent (as attracted to the brand as they are to their current brands)
Available (most likely to be acquired in the short run)
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10. What type of non-users are most likely to be acquired in the short-run based on the Conversion Model?
A. Strongly UnavailableB. Weakly UnavailableC. AmbivalentD. UnavailableE. Available
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TOP 10 Learning Questions for
(Chapter 8- Identifying Market Segments and
Targets)
Nailah P. CristobalDecember 16, 2011
Marketing Management Class of Prof. Remigio Joseph De Ungria
http://nailah08.blogspot.comColorful Me