Chapter 8

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Chapter 8

  1. 1. TOP 10 Learning Questions for<br />Chapter 8:Identifying Market Segments and Targets<br />Alvin Tsoi<br />September 24, 2010<br />
  2. 2. 1. The _____ measures the loyalty of users to a certain brand and their tendency to switch brands<br />Segmentation process<br />Patterns of Target Market Selection<br />Brand Funnel<br />Conversion Model<br />Loyalty Status<br />2<br />
  3. 3. The conversion model measures the strength of consumer’s psychological commitment to brands and their openness to change.<br />
  4. 4.
  5. 5. 1. The _____ measures the loyalty of users to a certain brand and their tendency to switch brands<br />Segmentation process<br />Patterns of Target Market Selection<br />Brand Funnel<br />Conversion Model<br />Loyalty Status<br />5<br />
  6. 6. 2. _____ is not an effective segmentation criteria<br />Measurable<br />Substantial<br />Timely<br />Accessible<br />Differentiable<br />Actionable<br />6<br />
  7. 7. When segmenting the market, the criteria must be relevant and useful. Criteria must be measurable, substantial, accessible, differentiable and actionable.<br />
  8. 8. 2. _____ is not an effective segmentation criteria<br />Measurable<br />Substantial<br />Timely<br />Accessible<br />Differentiable<br />Actionable<br />8<br />
  9. 9. 3. These are the levels of Micromarketing except<br />Segments<br />Loyalty<br />Niches<br />Local Areas<br />Individuals<br />9<br />
  10. 10. Mass marketing is dying. A uniform approach for all consumers is not as effective as it used to be. Micromarketing is a more directed and accurate way of marketing.<br />
  11. 11. 3. These are the levels of Micromarketing except<br />Segments<br />Loyalty<br />Niches<br />Local Areas<br />Individuals<br />11<br />
  12. 12. 4. These are the decision roles in behavioral segmentation except<br />Initiator<br />Influencer<br />Decider<br />Buyer<br />Tester<br />User<br />12<br />
  13. 13. Different people are playing different roles, but all are crucial in the decision process and ultimate consumer satisfaction.<br />
  14. 14. 4. These are the decision roles in behavioral segmentation except<br />Initiator<br />Influencer<br />Decider<br />Buyer<br />Tester<br />User<br />14<br />
  15. 15. 5. Which of the following is true?<br />There are 3 behavioral variables<br />There are 4 behavioral variables <br />There are 5 behavioral variables<br />There are 6 behavioral variables<br />There are 7 behavioral variables<br />15<br />
  16. 16. Behavioral variables are the best starting points for constructing market segments. There are 7 behavioral variables:<br />Occasions<br />Benefits<br />User status<br />Buyer Readiness<br />Loyalty status<br />Usage rate<br />Attitude<br />
  17. 17. Occasions – Based on time e.x. holidays<br />Benefits – Based on benefits gained from the product<br />User status – Nonusers, ex-users, potential users etc<br />Usage rate – Rate of consumption of the product<br />Buyer readiness – Characterized by the brand funnel<br />Loyal status – Based on the degree to which a consumer will switch brands<br />Attitude – Outlook towards the product<br />
  18. 18. Combining different behavioral bases can help provide a more complete view of the market.<br />
  19. 19. 5. Which of the following is true?<br />There are 3 behavioral variables<br />There are 4 behavioral variables <br />There are 5 behavioral variables<br />There are 6 behavioral variables<br />There are 7 behavioral variables<br />19<br />
  20. 20. 6. Which of the following is true?<br /> Shifting loyals are at the bottom of the Loyalty pyramid<br /> Switchers are at the bottom of the Loyalty pyramid<br /> Hard Core are at the bottom of the Loyalty pyramid<br /> Split loyals are at the bottom of the Loyalty pyramid<br />20<br />
  21. 21. Loyalty status is a behavioral variable that defines the loyalty of a consumer to a product.<br />
  22. 22. Hard core loyals – buy one brand all the time<br />Split loyals – loyal to two or three brands<br />Shifting loyals – shift loyalty from one brand to another<br />Switchers – No loyalty to any brand<br />
  23. 23. 6. Which of the following is true?<br />Shifting loyals are at the bottom of the Loyalty pyramid<br />Switchers are at the bottom of the Loyalty pyramid<br />Hard Core are at the bottom of the Loyalty pyramid<br />Split loyals are at the bottom of the Loyalty pyramid<br />23<br />
  24. 24. 7. A consumer unswayed prices and competition is an example of<br />Shifting loyals<br />Split loyals<br />Hard core<br />Switchers<br />24<br />
  25. 25. Hard core loyals – buy one brand all the time<br />Split loyals – loyal to two or three brands<br />Shifting loyals – shift loyalty from one brand to another<br />Switchers – No loyalty to any brand<br />
  26. 26. 7. A consumer unswayed prices and competition is an example of<br />Shifting loyals<br />Split loyals<br />Hard core<br />Switchers<br />26<br />
  27. 27. 8. Salary is a this type of segmentation<br /> Geographic<br /> Demographic<br /> Psychographic<br /> Behavioral<br />27<br />
  28. 28. In demographic segmentation, we divide the market into groups of variables. They are easy to:<br />associate with needs and wants<br />measure <br />
  29. 29. Demographic segmentation<br />Age cycle<br />Life stage<br />Gender<br />Salary<br />Generation<br />Social class<br />
  30. 30. 8. Salary is a this type of segmentation<br /> Geographic<br /> Demographic<br /> Psychographic<br /> Behavioral<br />30<br />
  31. 31. 9. A friend who has a treadmill is a _____ to a husband who plans to buy a treadmill for his wife<br />Initiator<br />Influencer<br />Decider<br />Buyer<br />User<br />31<br />
  32. 32. People play 5 roles in a buying decision:<br />Initiator<br />Influencer<br />Decider<br />Buyer<br />User<br />
  33. 33. 9. A mother dictating the shampoo to be used by the child is a(an)<br />Initiator<br />Influencer<br />Decider<br />Buyer<br />User<br />33<br />
  34. 34. 10. Determining the population size is a type of segmentation criteria<br />Measurable<br />Substantial<br />Accessible<br />Differentiable<br />Actionable <br />34<br />
  35. 35. Effective segmentation criteria:<br />Measurable<br />Substantial<br />Accessible<br />Differentiable<br />Actionable<br />
  36. 36. Measurable – Size, purchasing power and characteristics of the segment can be measured<br />Substantial – Large and profitable enough to serve<br />Accessible – Effectively reached and served<br />Differentiable – Conceptually distinguishable<br />Actionable – Effective programs can be formulated<br />
  37. 37. 10. Determining the population size is a type of segmentation criteria<br />Measurable<br />Substantial<br />Accessible<br />Differentiable<br />Actionable <br />37<br />
  38. 38. TOP 10 Learning Questions for<br />Chapter 8:Identifying Market Segments and Targets<br />Alvin Tsoi<br />September 24, 2010<br />

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