MKTG 201 Exam 2 Study Guide (A+ Guaranteed)

Love, Swing, Hate Groups correct answers • Firm helps the swing group see the issues/benefits via the eyes of the love group • Don't turn back from the love group • Swing group brings the biggest opportunity to the brand Geographic Segmentation correct answers • Regions, population, size, density Demographic Segmentation correct answers • Age, gender, income, education Psychographic Segmentation correct answers • Personality, lifestyle, motive Behavioral Segmentation correct answers • Brand-loyal: high brand sensitivity, low price sensitivity ex. cigarette, coffee, soda • Deal: high brand sensitivity, high price sensitivity. Only buy at a discount price ex. diapers, hand and body soap, pet food • Price: low brand sensitivity, high price sensitivity. lowest price product first. Ex. plastic food bags, frozen pizzas, detergents • Convenience: low brand sensitivity, low price sensitivity. Ex. energy drinks, eggs, over the counter medications Measurable Segmentation Criteria correct answers # of the individuals are countable Accessible Segmentation Criteria correct answers • individuals can be reached via company's promotion and distribution channels Durable Segmentation Criteria correct answers • Membership and size are constant increase over time Substantial Segmentation Criteria correct answers segments large enough to make profit Unique needs Segmentation Criteria correct answers • needs/benefits of membership are similar within each segments, but differ across the segments Targeting Criteria correct answers • Market size: is the marker large enough to deliver expected profits for the company? • Expected growth: is the market growing? • Competitive position: What is the level of competitive rivalry or intensity in the segment? Is your company's differentiated product offering valued by the segment? • Cost to reach: is the economy accessible? • Maximize company profit: can the profit being maximized and sustain for a long time? • Positioning correct answers • Eliminate "me too" positioning, because same product and size don't change • pay more for more benefits. Ex. Rolls Royce, Rolex