HFT 2500 Ch 8 – Flashcards
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The degree to which effective programs can be designed for attracting and serving segments is the ______________of the market segment.
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Actionability
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The increasing fragmentation of the mass market into hundreds of smaller markets is called:
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Mircromarketing
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A product's _________ is the way the product is defined by consumers on important attributes.
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position
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T/F To an economist, a market is all the buyers and sellers who transact for a good or service.
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True
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Evaluating each segment's attractiveness and selecting one or more of the market segments is one of the major steps in the target marketing process, which is called:
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Market targeting
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T/F The process of marketers choosing to position their products based on specific product attributes can actually be dangerous.
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True
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T/F A "typical" male or female does not exist.
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True
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Which of the following is not a part of the psychographic variable? 1) Personality 2) Loyalty 3) Social class 4) Lifestyle
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2) Loyalty
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Formulating competitive positioning for a product and a detailed marketing mix is called:
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Market positioning
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T/F Using an undifferentiated marketing strategy, a company ignores market segmentation differences and goes after the entire market with one market offer.
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True
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Overpositioning is defined as:
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Giving buyers too narrow a picture of the company
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T/F Income and occupation are psychographic segmentation variables
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False
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The degree to which segments can be assessed and served is the ____________ of the market segment.
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accessibility
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Undifferentiated marketing is more suited for ____________ products
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homogenous
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Dividing a market into groups based on consumers' knowledge, attitude, use, or response to a product is called:
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Behavioral segmentation
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In using a(n) _____________ marketing strategy, a company ignores market segmentation and goes after the entire market with one market offer.
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Undifferentiated
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T/F A segment may have desirable size and growth and still not offer attractive profits.
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True
