UTA chp 8 segmenting and targeting

Consumption patterns among people of the same age & gender vary because they may be in different stages of HLC

Business customers who consider numerous suppliers, solicit bids and study all proposals carefully before selecting one

Things marketers use or highlight to position themselves uniquely (select all that apply)

Income level influences consumers wants and determines their buying power

To meet the needs & wants of expanding ethnic populations, some companies have campaigns for specific ethnic groups

The process of grouping customers based on the behaviors they exhibit, including what they buy, where they buy, and how

Women contribute to 37% of the GDP and in the US they drive 80% of the purchases of consumer goods each year

The process of grouping customers into market segments according to the benefits they seek from the product

Individuals & Organizations that buy goods & incorporate them inro the product they produce for sale to consumers

Marketing goods and services to individuals & organizations for purposes other than personal consumption

A series of stages determined by a combination of age, marital status and the presence or absence of children

Relationship marketing does not entail seeking & establishing ongoing partnerships with customers

People or organizations with needs or wants and the ability and willingness to buy

Segmenting markets by age, gender, income, ethnic background and household life cycle

Which one of these categories is NOT one of the four major categories of business customers

Accessibility means: The firm must be able to reach members of targeted segments with customized marketing mixes

A positioning strategy that some firms use to distinguish their products from those of competitors

A product bought to satisfy an individual's personal wants or needs

The process of dividing a market into meaningful, relatively similar and identifiable segments or groups

Which one of these terms is not a metric used to increasing the effectiveness of social media campaigns

80/20 principle says 20% of customers generate 80% of the demand

Marketers segment markets because:

A segment must be large enough to warrant developing & maintaining a special marketing mix

Segmenting markets by regions or country or the world, market size, market densisity or climates

Which one of these items is not a psychographic variable

Changing consumer's perceptions of a brand in relation to competing brands

A strategic marketing approach that focuses on creating & distributing content that is valuable, relevant & consistent

Strategic alliances/ strategic partnerships can take the form of joint ventures, distribution or licensing agreements

Own 51% of all the wealth in the country with $2.6 trillion in buying power

Segmenting markets based on personality, motives, lifestyles and geodemographics

If a marketer wishes to appeal to more than 1 segment of the market, it must develop different marketing mixes

A situation that occurs when sales of a new product cut into sales of a firm's existing products

Relationship marketing and strategic alliances are new concepts

This demographic segmentation is the "most technology-proficient generation ever". social media & online shopping matter

Trends that will lead to the continued growth of CRM (select all that apply)

Select all of the items that are a type of business product

Business customers who place an order with the first familiar supplier to satisfy product and delivery requirements

Successful alliances are not built on commitment and trust

Developing a specific marketing mix to influence potential customers' overall perception of a brand, product line or org