MarketSegment
- 1. TOP 10 Learning Questions for Chapter 08: Identifying Market Segments and Targets Arvin Yabut December 15, 2011
- 2. 1. Which of the following best describes what a market segment is? A market segment consists of different groups of customers who share a similar set of needs and wants A market segment consists of a group of customers who share a similar set of needs and wants A market segment consists of a group of customers who share different sets of needs and wants A market segment is a group of people who have a defined range of standards of living. A market segment consists of different groups of customers who share different sets of needs and wants.
- 3. Book Definition Source: Kotler’s Marketing Book – 13 th edition Page 248 A market segment consists of a group of customers who share a similar set of needs and wants.
- 4. Book Definition Source: Kotler’s Marketing Book – 13 th 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
- 5. 1. Which of the following best describes what a market segment is? A market segment consists of different groups of customers who share a similar set of needs and wants A market segment consists of a group of customers who share a similar set of needs and wants A market segment consists of a group of customers who share different sets of needs and wants A market segment is a group of people who have a defined range of standards of living. A market segment consists of different groups of customers who share different sets of needs and wants.
- 6. 2. Which of the following is not a level of micromarketing? Individual Marketing Segment Marketing Criterion Marketing Local Marketing Niche Marketing
- 7. 4 Levels of Micromarketing
- 8. 4 Levels of Micromarketing Process of elimination tells us that there’s no such thing as “Criterion Marketing”
- 9. 2. Which of the following is not a level of micromarketing? Individual Marketing Segment Marketing Criterion Marketing Local Marketing Niche Marketing
- 10. 3. In psychometric segmentation, which group with higher resources tend to seek durability, functionality, and value in products? Thinkers Experiencer Scholars Innovators Achievers
- 11. VALS Framework
- 12. VALS Framework 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
- 13. Thinkers Experiencer Scholars Innovators Achievers 3. In psychometric segmentation, which group with higher resources tend to seek durability, functionality, and value in products?
- 14. 4. What is the loyalty status of consumers who are loyal to two or three brands? Shifting loyals Switchers Split loyals Hard-core loyals Major loyals
- 15. Brand Loyalty Hard-core Loyals Split Loyals Shifting Loyals Switchers
- 16. Brand Loyalty 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
- 17. 4. What is the loyalty status of consumers who are loyal to two or three brands? Shifting loyals Switchers Split loyals Hard-core loyals Major loyals
- 18. 5. In evaluating and selecting the market segments, which of the following refers to serving many needs of a particular customer group? Single-Segment Concentration Selective Specialization Product Specialization Market Specialization Full-Market Coverage
- 19. Book Definition Source: Kotler’s Marketing Book – 13 th edition Page 268 Evaluating and Selecting the Market Segments
- 20. Book Definition Market Specialization The firm concentrates on serving many needs of a particular customer group.
- 21. 5. In evaluating and selecting the market segments, which of the following refers to serving many needs of a particular customer group? Single-Segment Concentration Selective Specialization Product Specialization Market Specialization Full-Market Coverage
- 22. 6. What approach can be done to broaden the customer base in case of oversegmenting the market? Megamarketing Resegmentation Segment Review Customerization Countersegmentation
- 23. Book Definition Source: Kotler’s Marketing Book – 13 th edition Page 270 Evaluating and Selecting the Market Segments
- 24. Book Definition Companies should be cautious about oversegmenting their markets. They may want to turn to countersegmentation to broaden the customer base.
- 25. 6. What approach can be done to broaden the customer base in case of oversegmenting the market? Megamarketing Resegmentation Segment Review Customerization Countersegmentation
- 26. 7. What are the three activities for target marketing? Market Targeting, Market Segmentation, Market Niching Market Positioning, Market Segmentation, Market Localization Market Segmentation, Market Penetration, Market Positioning Market Customization, Market Segmentation, Market Targeting Market Positioning, Market Targeting, Market Segmentation
- 27. Book Definition
- 28. Book Definition S.T.P. S egmentation T argeting P ositioning
- 29. 7. What are the three activities for target marketing? Market Targeting, Market Segmentation, Market Niching Market Positioning, Market Segmentation, Market Localization Market Segmentation, Market Penetration, Market Positioning Market Customization, Market Segmentation, Market Targeting Market Positioning, Market Targeting, Market Segmentation
- 30. 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. Megamarketing Resegmentation Segment Review Customerization Countersegmentation
- 31. External environment + Marketing Variables Manage these elements!
- 32. External environment + Marketing Variables Megamarketing economic psychological political public relations
- 33. Megamarketing Resegmentation Segment Review Customerization 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.
- 34. 9. What type of preference segment results when natural market segments emerge from groups of consumers with shared preferences? Homogeneous preferences Diffused preferences Clustered preferences Heterogeneous preferences None of the above
- 35. Book Definition Source: Kotler’s Marketing Book – 13 th edition Page 249 Market Segmentation
- 36. Book Definition Homogenous Preference: when all consumers have the same preferences Diffused Preference: vary greatly in their preferences Clustered Preference: when natural market segments emerge from groups of consumers with shared preferences
- 37. 9. What type of preference segment results when natural market segments emerge from groups of consumers with shared preferences? Homogeneous preferences Diffused preferences Clustered preferences Heterogeneous preferences None of the above
- 38. 10. The following effective segmentation criteria would be measureable, substantial, accessible, differentiable, and __________. Attainable Actionable Arguable Achievable None of the above
- 39. 5-Key Criteria
- 40. 5-Key Criteria “ Actionable” is the last criterion!
- 41. 10. The following effective segmentation criteria would be measureable, substantial, accessible, differentiable, and __________. Attainable Actionable Arguable Achievable None of the above
- 42. TOP 10 Learning Questions for Chapter 08: Identifying Market Segments and Targets Arvin Yabut December 15, 2011