1. 1 TOP 10 Learning Questions for Chapter 10 Identifying Market Segments &Targets Sheilanor C. Turingan April 14, 2011 http://sheilanorturingan.blogspot.com

2. 1. Market Segmentation means_______________________. Identifying distinct group of buyers. Selecting market segment/s to enter. Communicating the benefits of the company’s market offering. Connecting with all customers in large, broad or diverse market. All of the above 2 http://sheilanorturingan.blogspot.com

3. 3 To compete more effectively:TARGET MARKETING Market Segmentation >identify distinct groups Market Targeting >select segment to enter Market Positioning >communicate offering http://sheilanorturingan.blogspot.com

4. 4 Market Segmentation defined as: > identifying distinct groups of buyers who differ in their needs and preferences http://sheilanorturingan.blogspot.com

5. Identifying consumers throughSegment Marketing Market segment Group based on similar needs &wants Decide which to target http://sheilanorturingan.blogspot.com

6. 1. Market Segmentation means: Identifying distinct group of buyers. Selecting one or more market segments to enter. Communicating the benefits of the company’s market offering. Connecting with all customers in large, broad or diverse market. All of the above 6 http://sheilanorturingan.blogspot.com

7. 7 2. The following are levels of target marketing, except? Individual Segment Local Niche Mass http://sheilanorturingan.blogspot.com

8. 4 Levels of Target Marketing Segment Marketing Local Marketing Niche Marketing Individual Marketing http://sheilanorturingan.blogspot.com

9. 9 4 Levels of Target Marketing 1. Individual – one-to-one/customized marketing 2. Segment – customers with similar needs 3. Local – tailored to needs of customers in trading areas, neighborhoods 4. Niche – customers with distinct set of needs http://sheilanorturingan.blogspot.com

10. 10 The following are levels of target marketing, except? Individual Segment Local Niche Mass http://sheilanorturingan.blogspot.com

11. 11 3. Effective market segmentation must have the following criteria, except: Measurable Universal Substantial Accessible Differentiable http://sheilanorturingan.blogspot.com

13. Substantial

14. Accessible

15. Differentiable

16. Actionablehttp://sheilanorturingan.blogspot.com

17. 5 Criteria for effective market segmentation The size and characteristics of the segments must be measured. The segments are large and profitable to serve. The segments can be effectively reached and served. The segments are distinguishable. Effective programs can be formulated to attract and serve the segments. http://sheilanorturingan.blogspot.com

18. 14 3. Effective market segmentation must have the following criteria, except: Measurable Universal Substantial Accessible Differentiable http://sheilanorturingan.blogspot.com

19. 15 4. __________ involves determining which variables make the segment distinct & identifiable. Marketing Mix Strategy Segment Acid Test Segment Identification Needs-based Segmentation Segment Positioning http://sheilanorturingan.blogspot.com

20. Steps in the Segmentation Process identify needs determine variables test attractiveness calculate profitability develop strategy determine viability Include marketing mix strategy (product, price promotion, place) http://sheilanorturingan.blogspot.com

21. 17 Segment Identification > Process which involves determining which demographics, lifestyles and usage behaviors make the segment distinct and identifiable for each needs-based segment http://sheilanorturingan.blogspot.com

22. 18 4. __________ involves determining which variables make the segment distinct & identifiable Marketing Mix Strategy Segment Acid Test Segment Identification Needs-based Segmentation Segment Positioning http://sheilanorturingan.blogspot.com

23. 19 5. Which of the ff statements is true: The key to consumer market segmentation is recognizing customer differences. Behavioral segmentation divides buyers based on traits, values or lifestyle. Psychographic variables include religion, education, race and social class. Demographic variables are seldom associated with consumer needs and wants. All of the above http://sheilanorturingan.blogspot.com

24. Bases for segmenting consumer markets: by country Geographic by region by continent by cities Psychographic lifestyle activities http://sheilanorturingan.blogspot.com 20

25. 21 5. Which of the ff statements is true: The key to consumer market segmentation is recognizing customer differences. Behavioral segmentation divides buyers based on traits, values or lifestyle. Psychographic variables include religion, education, race and social class. Demographic variables are seldom associated with consumer needs and wants. All of the above http://sheilanorturingan.blogspot.com

26. 22 6. Which of the following statements is true: Achievers favor products which demonstrate success to family or peers. Experiencers seek durability, functionality and value. Thinkers spend income on fashion, entertainment and socializing. Innovators are sophisticated, active people with high-self esteem. All of the above http://sheilanorturingan.blogspot.com

27. Psychographic How to divide a market into segments? Lifestyle Activities Values http://sheilanorturingan.blogspot.com

28. How to better understand consumers?PSYCHOGRAPHIC SEGMENTATION Innovators Thinkers Achievers Experiencer http://sheilanorturingan.blogspot.com

29. 25 How to better understand consumers?PSYCHOGRAPHIC SEGMENTATION 4 GROUPS Achievers favor products which demonstrate success to family or peers Thinkers seek durability, functionality and value. Experiencers spend income on fashion, entertainment and socializing. Innovators are sophisticated, active people with high self-esteem. http://sheilanorturingan.blogspot.com

30. 26 6. Which of the following statements is true: Achievers favor products which demonstrate success to family or peers. Experiencers seek durability, functionality and value. Thinkers spend income on fashion, entertainment and socializing. Innovators are sophisticated, active people with high-self esteem. All of the above http://sheilanorturingan.blogspot.com

31. 27 7. Brand Loyalty is an example of Demographic Segmentation Psychographic Segmentation Behavioral Segmentation Geographic Segmentation Regional Segmentation Individual Segmentation http://sheilanorturingan.blogspot.com

32. Identifying Behavioral VariablesBEHAVIORAL SEGMENTATION Buyer-readiness Occasions Benefits Loyalty Status User status Attitude Usage rate http://sheilanorturingan.blogspot.com

33. Behavioral SegmentationAssessing Brand Loyalty Hard-core Loyals - can help identify strengths Split Loyals –can help identify competitors Shifting Loyals – can help identify weaknesses Switchers – can help correct weaknesses http://sheilanorturingan.blogspot.com

34. 30 7. Brand Loyalty is an example of Demographic Segmentation Psychographic Segmentation Behavioral Segmentation Geographic Segmentation Regional Segmentation Individual Segmentation http://sheilanorturingan.blogspot.com

35. 31 8. Procter & Gamble’s PANTENE HAIR FALL CONTROL SHAMPOO is an example of: Mass Marketing Local Marketing Individual Marketing Segment Marketing Niche Marketing http://sheilanorturingan.blogspot.com

36. Levels of Target Marketing Segment Marketing Local Marketing Niche Marketing Individual Marketing http://sheilanorturingan.blogspot.com

37. 33 Niche Marketing Customers with distinct needs http://sheilanorturingan.blogspot.com

38. 34 8. Procter & Gamble’s PANTENE HAIR FALL CONTROL SHAMPOO is an example of: Mass Marketing Local Marketing Individual Marketing Segment Marketing Niche Marketing http://sheilanorturingan.blogspot.com

39. 35 9. Quality, service, economy, speed are examples of: Psychographic Variables Demographic Variables Behavioral Variables Geographic Variables Segmentation Variables

40. Identifying Behavioral VariablesBEHAVIORAL SEGMENTATION Buyer-readiness Occasions Benefits Loyalty Status User status Attitude Usage rate http://sheilanorturingan.blogspot.com

41. Identifying Behavioral VariablesBEHAVIORAL SEGMENTATION Benefits http://sheilanorturingan.blogspot.com

42. 38 9. Quality, service, economy, speed are examples of: Psychographic Variables Demographic Variables Behavioral Variables Geographic Variables Segmentation Variables http://sheilanorturingan.blogspot.com

43. 39 10. Creating value proposition and product-price strategy is an example: Segment Identification Segment Acid Test Segment Positioning Needs-based Segmentation Marketing Mix Strategy http://sheilanorturingan.blogspot.com

44. Steps in the Segmentation Process identify needs determine variables test attractiveness calculate profitability develop strategy determine viability Include marketing mix strategy (product, price promotion, place) http://sheilanorturingan.blogspot.com

45. 41 Segment Positioning > Process which involves creating a “value proposition” and product-price positioning strategy based on customer needs and characteristics http://sheilanorturingan.blogspot.com

46. 42 10. Creating value proposition and product-price strategy is an example of: Segment Identification Segment Acid Test Segment Positioning Needs-based Segmentation Marketing Mix Strategy http://sheilanorturingan.blogspot.com

47. Source: Marketing Management by Philip Kotler http://sheilanorturingan.blogspot.com

48. 44 TOP 10 Learning Questions for Chapter 10 Identifying Market Segments &Targets Sheilanor C. Turingan April 14, 2011 http://sheilanorturingan.blogspot.com