Chapter 8 Make Your Mark version 2
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This document contains 10 learning questions about market segmentation from Chapter 8. It discusses the four levels of micromarketing - segments, niches, local areas, and individuals. Question 1 asks about niches, which are more narrowly defined customer groups. Question 2 asks about life stage defining a person's major concern in demographic segmentation. Question 3 asks about the exception to target markets. Question 4 asks about the criteria market segments must be, with the exception being flexible. Question 5 asks about a false statement in demographic segmentation. Question 6 asks about the exception in criteria for useful market segments. Question 7 asks about Manila Beer's local area marketing strategy. Question 8 asks about life stage segmentation in RunRio's marketing. Question 9 asks
Chapter 8 Make Your Mark version 2
- 1. TOP 10 Learning Questions forChapter 8: Identifying Market Segments and TargetsAllan Ray C. EnriquezSeptember 24, 2010
- 2. SegmentNicheLocal areaIndividualFirm2Question1. is a more narrowly defined customer group seeking a distinctive mix of benefits.
- 3. There are four levels of Micromarketing3ConceptSegmentsNichesLocal areasIndividuals
- 4. Markets can be targeted at four (4) levels: segments, niches, local areas and individuals.4Segments: large and identifiable groupsNiche: more narrowly defined group with distinctive mix of benefitsLocal area: local customer groups (i.e. neighborhoods, individual stores)Individuals: particular customers with their customized needs and wants.SegmentsNichesLocal areasIndividualsExplanation of Concept
- 5. Answer1. is a more narrowly defined customer group seeking a distinctive mix of benefits.SegmentNicheLocal areaIndividualFirm5
- 6. Age Family size Social class Life stage Race6Question2. defines a person’s major concern.
- 7. Demographic Segmentation7ConceptAge and Life CycleLife StageGenderIncomeGenerationSocial Class
- 8. Life stage defines a person’s major concern.8Life 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 CycleLife StageGenderIncomeGenerationSocial ClassExplanation of Concept
- 9. Answer2. defines a person’s major concern. Age Family size Social classLife stage Race9
- 10. SegmentsGroupsNichesLocal AreasIndividuals10Question3. Target markets are the following except:
- 11. There are four levels of Micromarketing11ConceptSegmentsNichesLocal areasIndividuals
- 12. Four levels of Micromarketing12SegmentsNichesAs Kotler defined, there are four (4) levels of marketing.Local areasIndividualsExplanation of Concept
- 13. Answer3. Target markets are the following except:SegmentsGroupsNichesLocal AreasIndividuals13
- 14. measurable differentiable accessible flexible actionable14Question4. Market segments, to be useful, must be ALL except:
- 16. To be useful, market segments must rate on five (5) key criteria:16Measurable: 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.MeasurableSubstantialAccessibleDifferentiableActionableExplanation of Concept
- 17. Answer4. Market segments, to be useful, must be ALL except: measurable differentiable accessibleflexible actionable17
- 18. Men and women have different attitudes based partly on genetic makeup and socialization.People in the same part of the life cycle may differ in their life stage. Income always predict the best customers for a given product.Each generation is influenced by the times in which it grows up.Social class has a strong influence on preferences.18Question5. Which of the following is FALSE?
- 19. Demographic Segmentation19ConceptAge and Life CycleLife StageGenderIncomeGenerationSocial Class
- 20. In demographic segmentation, we divide market into groups and variables:20Age, 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 CycleLife StageGenderIncomeGenerationSocial ClassExplanation of Concept
- 21. Answer5. Which of the following is FALSE?Men and women have different attitudes based partly on genetic makeup and socialization.People in the same part of the life cycle may differ in their life stage. Income always predict the best customers for a given product.Each generation is influenced by the times in which it grows up.Social class has a strong influence on preferences.21
- 22. Segments can be served when available.The segments should be targeted to small groups for tailored marketing. Segments are conceptually similar to each other.Size and characteristics of the segments cannot be quantified.Effective programs can be formulated for attracting and serving the segments.22Question6. All statements for market segments to be useful are FALSE except:
- 24. To be useful, market segments must rate on five (5) key criteria:24Measurable: 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.MeasurableSubstantialAccessibleDifferentiableActionableExplanation of Concept
- 25. Answer6. All statements for market segments to be useful are FALSE except:Segments can be served when available.The segments should be targeted to small groups for tailored marketing. Segments are conceptually similar to each other.Size and characteristics of the segments cannot be quantified.Effective programs can be formulated for attracting and serving the segments.25
- 26. SegmentNicheLocal IndividualGlobal26Question7. Manila Beer’s strategy is an example way of marketing.
- 27. There are four levels of Micromarketing27ConceptSegmentsNichesLocal areasIndividuals
- 28. Manila Beer repackaged itself and reintroduced last June 2010*.28Target marketing leads to marketing programs tailored to the needs and wants of local customer groups.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.htmlExplanation of Concept
- 29. Answer7. Manila Beer’s strategy is an example way of marketing. SegmentNicheLocal IndividualGlobal29
- 30. Age and Life-Cycle Life Gender Social ClassGeneration30Question8. RunRio’s marketing is focused to runners. This type of segmentation is focused primarily to stage.
- 31. Demographic Segmentation31ConceptAge and Life CycleLife StageGenderIncomeGenerationSocial Class
- 32. Running has been dubbed as the “new badminton.” From merely 2,000 participants, races has increased to 10,000 this year.*32Generations 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 2010Explanation of Concept
- 33. Answer8. RunRio’s marketing is focused to runners. This type of segmentation is focused primarily to stage.Age and Life-Cycle Life Gender Social ClassGeneration33
- 34. Local marketingHypermarketingMegamarketing Mass marketing Niche marketing34Question9. Colgate’s strategy of including sensitive teeth consumers in their market is a way of .
- 35. Markets can be targeted at four (4) levels: segments, niches, local areas and individuals.35Segments: large and identifiable groupsNiche: more narrowly defined group with distinctive mix of benefitsLocal area: local customer groups (i.e. neighborhoods, individual stores)Individuals: particular customers with their customized needs and wants.SegmentsNichesLocal areasIndividualsExplanation of Concept
- 36. Sensodyne has been known for its toothpaste customized for sensitive teeth until Colgate released its product this year.*36Colgate, 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/36333/21Explanation of Concept
- 37. Answer9. Colgate’s strategy of including sensitive teeth consumers in their market is a way of . Local marketingHypermarketingMegamarketing Mass marketingNiche marketing37
- 38. Segment Niche LocalIndividual Mass 38Question10. Sunsilk’s Co-creations’ strategy is this kind of marketing.
- 39. Markets can be targeted at four (4) levels: segments, niches, local areas and individuals.39Segments: large and identifiable groupsNiche: more narrowly defined group with distinctive mix of benefitsLocal area: local customer groups (i.e. neighborhoods, individual stores)Individuals: particular customers with their customized needs and wants.SegmentsNichesLocal areasIndividualsExplanation of Concept
- 40. This year Sunsilk created Co-Creations by world-renowned international experts when it comes to haircare.* 40Customized marketing is empowering consumers by designing products and services of their choice.Source http://mrsmartinezravesandrants.blogspot.com/2010/07/sunsilk-co-creations-media-launch.htmlExplanation of Concept
- 41. Answer10. Sunsilk’s Co-creations’ strategy is this kind of marketing.Segment Niche LocalIndividual Mass 41
- 42. TOP 10 Learning Questions forChapter 8: Identifying Market Segments and TargetsAllan Ray C. EnriquezSeptember 24, 2010