ADM 2320 Lecture : ADM2320C Chapter 8 - Segmentation, Targeting, and Positioning

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crimsonpug330

3 Feb 2012

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Document Summary

Adm2320c chapter 8 - segmentation, targeting, and positioning. Develop appropriate marketing programs: demographic segmentation, most common method. Divide market into groups based on: gender, age, ethnic group, family lifecycle stage, household type, income, other, ex. Consensus excellent source of segmentation data: psychographic segmentation: how consumers describe themselves. Self-values: goals for life, not just the goals one wants to accomplish in a day. In this context, they refer to overriding desires that drive how a person lives his or her life. Lifestyles: the way a person lives his or her life to achieve goals. Benefit segmentation: the grouping of consumers on the basis of the benefits they derive from products or services. Loyalty segmentation: strategy of investing in loyalty initiatives to retain the firm"s most profitable customers. Geo-demographic segmentation: the grouping of consumers on the basis of a combination of geographic, demographic, and lifestyle characteristics.

Related Questions

Over the past decade, brands that were once available exclusively to the wealthiest among us have created more affordable product extensions, giving a far broader range of consumers a taste of the good life. Jaguar, for instance, recently launched its X-type sedan, which starts at $30,000 and is meant for the "almost rich" consumer who aspires to live in luxury. By marketing to people who desire a luxurious lifestyle, Jaguar is using:

1.Demographic segmentation 2.Psychographic segmentation 3.Geodemographic segmentation 4.Attitudinal positioning 5.Lifestyle positioning

The combination of demographics, lifestyles, and geographiccategories leads to ______________.

	A.	geodemographic segmentation
	B.	benefit segmentation
	C.	usage-rate segmentation
	D.	psychographic segmentation

A concentrated targeting strategy differs from anundifferentiated targeting strategy in that a concentratedtargeting strategy:

	A.	results in cannibalization of products.
	B.	involves the selection of a market niche to target the marketingefforts of a firm.
	C.	views the market as one big market with no individualsegments.
	D.	reduces the production and marketing costs of a firm.

QUESTION 47

Apple saw a huge drop in the sales of its iPhone 6s when theylaunched the iPhone 7. This situation exemplifies_________________, that is, when a new product cuts into the salesof existing products within the same company.

A.
cannibalization

B.
repositioning

C.
competition

D.
positioning