HFT 2500 Ch 8

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