Chapter8LearningQuestions

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Chapter8LearningQuestions

  1. 1. 1<br />TOP 10 Learning Questions for<br /> Chapter 10<br />Identifying Market Segments &Targets<br />Sheilanor C. Turingan<br />April 14, 2011<br />http://sheilanorturingan.blogspot.com<br />
  2. 2. 1. Market Segmentation means_______________________.<br />Identifying distinct group of buyers.<br />Selecting market segment/s to enter.<br />Communicating the benefits of the company’s market offering.<br />Connecting with all customers in large, broad or diverse market.<br />All of the above<br />2<br />http://sheilanorturingan.blogspot.com<br />
  3. 3. 3<br />To compete more effectively:TARGET MARKETING<br />Market Segmentation<br />>identify distinct groups<br />Market Targeting<br />>select segment to enter<br />Market Positioning<br />>communicate offering<br />http://sheilanorturingan.blogspot.com<br />
  4. 4. 4<br />Market Segmentation defined as:<br />> identifying distinct groups of buyers who differ in their needs and preferences<br />http://sheilanorturingan.blogspot.com<br />
  5. 5. Identifying consumers throughSegment Marketing<br />Market segment<br />Group based on<br />similar needs &wants<br />Decide which to target<br />http://sheilanorturingan.blogspot.com<br />
  6. 6. 1. Market Segmentation means:<br />Identifying distinct group of buyers.<br />Selecting one or more market segments to enter.<br />Communicating the benefits of the company’s market offering.<br />Connecting with all customers in large, broad or diverse market.<br />All of the above<br />6<br />http://sheilanorturingan.blogspot.com<br />
  7. 7. 7<br />2. The following are levels of target marketing, except?<br />Individual<br />Segment<br />Local<br />Niche<br />Mass<br />http://sheilanorturingan.blogspot.com<br />
  8. 8. 4 Levels of Target Marketing<br />Segment Marketing<br />Local Marketing<br />Niche Marketing<br />Individual Marketing<br />http://sheilanorturingan.blogspot.com<br />
  9. 9. 9<br />4 Levels of Target Marketing<br />1. Individual – one-to-one/customized marketing<br />2. Segment – customers with similar needs<br />3. Local – tailored to needs of customers in trading areas, neighborhoods<br />4. Niche – customers with distinct set of needs<br />http://sheilanorturingan.blogspot.com<br />
  10. 10. 10<br />The following are levels of target marketing, except?<br />Individual<br />Segment<br />Local<br />Niche<br />Mass<br />http://sheilanorturingan.blogspot.com<br />
  11. 11. 11<br />3. Effective market segmentation must have the following criteria, except:<br />Measurable<br />Universal<br />Substantial<br />Accessible<br />Differentiable<br />http://sheilanorturingan.blogspot.com<br />
  12. 12. How to segment market effectively? <br /><ul><li>Measurable
  13. 13. Substantial
  14. 14. Accessible
  15. 15. Differentiable
  16. 16. Actionable</li></ul>http://sheilanorturingan.blogspot.com<br />
  17. 17. 5 Criteria for effective market segmentation<br />The size and characteristics of the segments must be measured.<br />The segments are large and profitable to serve.<br />The segments can be effectively reached and served.<br />The segments are distinguishable.<br />Effective programs can be formulated to attract and serve the segments.<br />http://sheilanorturingan.blogspot.com<br />
  18. 18. 14<br />3. Effective market segmentation must have the following criteria, except:<br />Measurable<br />Universal<br />Substantial<br />Accessible<br />Differentiable<br />http://sheilanorturingan.blogspot.com<br />
  19. 19. 15<br />4. __________ involves determining which variables make the segment distinct & identifiable.<br />Marketing Mix Strategy<br />Segment Acid Test<br />Segment Identification<br />Needs-based Segmentation<br />Segment Positioning<br />http://sheilanorturingan.blogspot.com<br />
  20. 20. Steps in the Segmentation Process<br /> identify needs<br /> determine variables<br /> test attractiveness<br />calculate profitability<br />develop strategy<br />determine viability<br />Include marketing mix strategy<br /> (product, price promotion, place)<br />http://sheilanorturingan.blogspot.com<br />
  21. 21. 17<br />Segment Identification<br />> Process which involves determining which demographics, lifestyles and usage behaviors make the segment distinct and identifiable for each needs-based segment<br />http://sheilanorturingan.blogspot.com<br />
  22. 22. 18<br />4. __________ involves determining which variables make the segment distinct & identifiable<br />Marketing Mix Strategy<br />Segment Acid Test<br />Segment Identification<br />Needs-based Segmentation<br />Segment Positioning<br />http://sheilanorturingan.blogspot.com<br />
  23. 23. 19<br />5. Which of the ff statements is true:<br />The key to consumer market segmentation is recognizing customer differences.<br />Behavioral segmentation divides buyers based on traits, values or lifestyle.<br />Psychographic variables include religion, education, race and social class.<br />Demographic variables are seldom associated with consumer needs and wants.<br />All of the above<br />http://sheilanorturingan.blogspot.com<br />
  24. 24. Bases for segmenting consumer markets:<br />by country<br />Geographic<br />by region<br />by continent<br />by cities<br /> Psychographic<br />lifestyle<br />activities<br />http://sheilanorturingan.blogspot.com<br />20<br />
  25. 25. 21<br />5. Which of the ff statements is true:<br />The key to consumer market segmentation is recognizing customer differences.<br />Behavioral segmentation divides buyers based on traits, values or lifestyle.<br />Psychographic variables include religion, education, race and social class.<br />Demographic variables are seldom associated with consumer needs and wants.<br />All of the above<br />http://sheilanorturingan.blogspot.com<br />
  26. 26. 22<br />6. Which of the following statements is true:<br />Achievers favor products which demonstrate success to family or peers.<br />Experiencers seek durability, functionality and value.<br />Thinkers spend income on fashion, entertainment and socializing.<br />Innovators are sophisticated, active people with high-self esteem.<br />All of the above<br />http://sheilanorturingan.blogspot.com<br />
  27. 27. Psychographic<br />How to divide a market into segments?<br />Lifestyle<br />Activities<br />Values<br />http://sheilanorturingan.blogspot.com<br />
  28. 28. How to better understand consumers?PSYCHOGRAPHIC SEGMENTATION<br />Innovators<br />Thinkers<br />Achievers<br />Experiencer<br />http://sheilanorturingan.blogspot.com<br />
  29. 29. 25<br />How to better understand consumers?PSYCHOGRAPHIC SEGMENTATION<br />4 GROUPS<br />Achievers favor products which demonstrate success to family or peers<br />Thinkers seek durability, functionality and value.<br />Experiencers spend income on fashion, entertainment and socializing.<br />Innovators are sophisticated, active people with high self-esteem.<br />http://sheilanorturingan.blogspot.com<br />
  30. 30. 26<br />6. Which of the following statements is true:<br />Achievers favor products which demonstrate success to family or peers.<br />Experiencers seek durability, functionality and value.<br />Thinkers spend income on fashion, entertainment and socializing.<br />Innovators are sophisticated, active people with high-self esteem.<br />All of the above<br />http://sheilanorturingan.blogspot.com<br />
  31. 31. 27<br />7. Brand Loyalty is an example of<br />Demographic Segmentation<br />Psychographic Segmentation<br />Behavioral Segmentation<br />Geographic Segmentation<br />Regional Segmentation<br />Individual Segmentation<br />http://sheilanorturingan.blogspot.com<br />
  32. 32. Identifying Behavioral VariablesBEHAVIORAL SEGMENTATION <br />Buyer-readiness<br />Occasions<br />Benefits<br />Loyalty Status<br />User status<br />Attitude<br />Usage rate<br />http://sheilanorturingan.blogspot.com<br />
  33. 33. Behavioral SegmentationAssessing Brand Loyalty<br />Hard-core Loyals - can help identify strengths<br />Split Loyals –can help identify competitors<br />Shifting Loyals – can help identify weaknesses<br />Switchers – can help correct weaknesses<br />http://sheilanorturingan.blogspot.com<br />
  34. 34. 30<br />7. Brand Loyalty is an example of<br />Demographic Segmentation<br />Psychographic Segmentation<br />Behavioral Segmentation<br />Geographic Segmentation<br />Regional Segmentation<br />Individual Segmentation<br />http://sheilanorturingan.blogspot.com<br />
  35. 35. 31<br />8. Procter & Gamble’s PANTENE HAIR FALL CONTROL SHAMPOO is an example of:<br />Mass Marketing<br />Local Marketing<br />Individual Marketing<br />Segment Marketing<br />Niche Marketing<br />http://sheilanorturingan.blogspot.com<br />
  36. 36. Levels of Target Marketing<br />Segment Marketing<br />Local Marketing<br />Niche Marketing<br />Individual Marketing<br />http://sheilanorturingan.blogspot.com<br />
  37. 37. 33<br />Niche Marketing<br />Customers with distinct needs<br />http://sheilanorturingan.blogspot.com<br />
  38. 38. 34<br />8. Procter & Gamble’s PANTENE HAIR FALL CONTROL SHAMPOO is an example of:<br />Mass Marketing<br />Local Marketing<br />Individual Marketing<br />Segment Marketing<br />Niche Marketing<br />http://sheilanorturingan.blogspot.com<br />
  39. 39. 35<br />9. Quality, service, economy, speed are examples of:<br />Psychographic Variables<br />Demographic Variables<br />Behavioral Variables<br />Geographic Variables<br />Segmentation Variables<br />
  40. 40. Identifying Behavioral VariablesBEHAVIORAL SEGMENTATION <br />Buyer-readiness<br />Occasions<br />Benefits<br />Loyalty Status<br />User status<br />Attitude<br />Usage rate<br />http://sheilanorturingan.blogspot.com<br />
  41. 41. Identifying Behavioral VariablesBEHAVIORAL SEGMENTATION <br />Benefits<br />http://sheilanorturingan.blogspot.com<br />
  42. 42. 38<br />9. Quality, service, economy, speed are examples of:<br />Psychographic Variables<br />Demographic Variables<br />Behavioral Variables<br />Geographic Variables<br />Segmentation Variables<br />http://sheilanorturingan.blogspot.com<br />
  43. 43. 39<br />10. Creating value proposition and product-price strategy is an example:<br />Segment Identification<br />Segment Acid Test<br />Segment Positioning<br />Needs-based Segmentation<br />Marketing Mix Strategy<br />http://sheilanorturingan.blogspot.com<br />
  44. 44. Steps in the Segmentation Process<br /> identify needs<br /> determine variables<br /> test attractiveness<br />calculate profitability<br />develop strategy<br />determine viability<br />Include marketing mix strategy<br /> (product, price promotion, place)<br />http://sheilanorturingan.blogspot.com<br />
  45. 45. 41<br />Segment Positioning<br />> Process which involves creating a “value proposition” and product-price positioning strategy based on customer needs and characteristics<br />http://sheilanorturingan.blogspot.com<br />
  46. 46. 42<br />10. Creating value proposition and product-price strategy is an example of:<br />Segment Identification<br />Segment Acid Test<br />Segment Positioning<br />Needs-based Segmentation<br />Marketing Mix Strategy<br />http://sheilanorturingan.blogspot.com<br />
  47. 47. Source:<br />Marketing Management by Philip Kotler<br />http://sheilanorturingan.blogspot.com<br />
  48. 48. 44<br />TOP 10 Learning Questions for<br /> Chapter 10<br />Identifying Market Segments &Targets<br />Sheilanor C. Turingan<br />April 14, 2011<br />http://sheilanorturingan.blogspot.com<br />

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