Chapter 6

Question 1

Organization you decide to sell

Answer 1

Target market

Question 2

Differentiate some aspect of marketing

Answer 2

Targeted marketing or differentiated marketing

Question 3

evolve along with mass product and involves Selling the same product to everybody

Answer 3

Mass marketing or undifferentiated marketing

Question 4

Is an idea proposed by don pepper and Martha Rogers

Answer 4

One-to-one marketing

Question 5

Criteria to classify buyers

Answer 5

Segmentation bases

Question 6

Types of segmentation bases

Answer 6

Behavioral segmentation and demographic segmentation

Question 7

Divides people and organization ito groups according to how they behave with of action

Answer 7

Behavioral segmentation

Question 8

Buyers by the benefits they want from product

Answer 8

Benefits segmentation

Question 9

Determine how you will measure your effort.

Answer 9

ESTABLISH SHORT-TERM MEASURES TO EVALUATE YOUR EFFORTS:

Question 10

Gather all the information you can about your current customers, including their buying patterns, likes, and dislikes.

Answer 10

IDENTIFY YOUR CUSTOMERS:

Question 11

Determine who your best customers are in terms of what they spend and will spend in the future, and how easy or difficult they are to serve.

Answer 11

DIFFERENTIATE AMONG YOUR CUSTOMERS

Question 12

Find ways and media in which to talk to customers about topics they’re interested in and enjoy.

Answer 12

INTERACT WITH YOUR CUSTOMERS, TARGETING YOUR BEST ONES

Question 13

Try to customize your marketing messages and products in order to give your customers exactly what they want.

Answer 13

CUSTOMIZE YOUR PRODUCTS AND MARKETING MESSAGES TO MEET THEIR NEEDS:

Question 14

TYPES OF SEGMENTATION BASES

Answer 14

• BEHAVIORAL SEGMENTATION:
• DEMOGRAPHIC SEGMENTATION:
• GEOGRAPHIC SEGMENTATION:
• PSYCHOGRAPHIC SEGMENTATION:

Question 15

• divides people and organization into groups according to how they behave with or act toward products.

Answer 15

BEHAVIORAL SEGMENTATION

Question 16

• : segmenting buyers by personal characteristics such as age, income, ethnicity and nationality, education, occupation, religion, social class, and family size.

Answer 16

DEMOGRAPHIC SEGMENTATION

Question 17

• divides the market into areas based on location and explains why the checkout clerks at stores sometimes ask for your zip code.

Answer 17

GEOGRAPHIC SEGMENTATION:

Question 18

• Psychographic information is frequently gathered via extensive surveys that ask people about their activities, interests, opinion, attitudes, values, and lifestyles.

Answer 18

PSYCHOGRAPHIC SEGMENTATION:

Question 19

old brands or products that companies “bring back” for a period of time.

Answer 19

Retro brands

Question 20

• electronic games sellers create to promote a product or service.

Answer 20

ADVERGAMES

Question 21

• stages families go through over time and how it affects people’s buying behavior.

Answer 21

FAMILY LIFE CYCLE

Question 22

• process that takes data such as this and plots it on a map.

Answer 22

GEOCODING

Question 23

– “neighborhood geography”, combining both demographic and geographic information.

Answer 23

GEODEMOGRAPHICS

Question 24

(the number of people per square mile) - used for segmentation purposes.

Answer 24

CITY SIZE AND POPULATION DENSITY

Question 25

interesting new technology firms are using to segment and target buyers geographically within a few hundred feet of their businesses using wireless technology.

Answer 25

PROXIMITY MARKETING -

Question 26

• : successful, sophisticated, take-charge people with high self-esteem.

Answer 26

INNOVATORS

Question 27

• : motivated by ideals. They are mature, satisfied, comfortable, and reflective people who value order, knowledge, and responsibility.

Answer 27

THINKERS

Question 28

• : motivated by the desire for achievement, have goal-oriented lifestyles and a deep commitment to career and family.

Answer 28

ACHIEVERS

Question 29

• : - motivated by self-expression. Young, enthusiastic, and impulsive consumers; they quickly become enthusiastic about new possibilities but are equally quick to cool.

Answer 29

EXPERIENCERS

Question 30

• : motivated by ideals. Conservative, conventional people with concrete beliefs based on traditional, established codes: family, religion, community, and the nation.

Answer 30

BELIEVERS

Question 31

• : trendy and fun loving. Motivated by achievement; concerned about the opinions and approval of others.

Answer 31

STRIVERS

Question 32

• : motivated by self-expression. They express themselves and experience the world by working on it.

Answer 32

MAKERS

Question 33

• : live narrowly focused lives. With few resources with which to cope, they often believe that the world is changing too quickly.

Answer 33

SURVIVORS

Question 34

- what results when you use both types of information (qualitative & quantitative info).

Answer 34

CONSUMER INSIGHT

Question 35

• : small companies that have low profit margins and regard the good or service being sold as not being strategically important to their operations.

Answer 35

PRICE-FOCUSED SEGMENT

Question 36

• composed of firms that want the best possible products and are prepared to pay for them.

Answer 36

QUALITY AND BRAND-FOCUSED SEGMENT:

Question 37

• : most firms tailor their offerings in one way or another to meet the needs of different segments of customers.

Answer 37

MULTISEGMENT MARKETING

Question 38

• : targeting a very select group of customers. Can be a risky strategy because companies really do have all their eggs in one basket.

Answer 38

CONCENTRATED MARKETING

Question 39

: targeting an even more select group of consumers. When engaging in niche marketing, a company’s goal is to be a big fish in a small pond instead of a small fish in a big pond.

Answer 39

Niche marketing

Question 40

: “narrowcasting”, is a new effort to isolate markets and target them. It involves gathering all kinds of data available on people, everything from their tax and phone records to the catalogs they receive.

Answer 40

Microtargeting

Question 41

Firms that compete in the global marketplace can use any combination of the segmenting strategies or none at all.

Answer 41

• TARGETING GLOBAL MARKETS:

Question 42

- how consumers perceive a product relative to the competition.

Answer 42

POSITIONING

Question 43

- two-dimensional graph that visually shows where your product stands, or should stand, relative to your competitors.

Answer 43

PERCEPTUAL MAP

Question 44

- a catchphrase designed to sum up the essence of a product.

Answer 44

TAGLINE

Question 45

- effort to “move” a product to a different place in the minds of consumers.

Answer 45

REPOSITIONING