Segmentation (3)

Question 1

Marketing segmentation is…

Answer 1

dividing the larger market into smaller segments based on meaningfully shared characteristics or needs

Question 2

The essence of segmentation is to _____ the population to market more effectively

Answer 2

divide

Question 3

Why is it important to divide the market?

Answer 3

Everyone in the population isn’t the same, and everyone doesn’t have the same needs.

Question 4

Segmenting the market allows a marketer to…

Answer 4

• to focus on those segments that most need the product.
• to adjust the marketing mix of a product to provide more value to a segment.
• market efficiently and thereby increase ROI

Question 5

Effective segmentation can bring more ____ to the customer, and, in turn, more customer ______ and long-term _______ for the company.

Answer 5

value, satisfaction, profitability

Question 6

Geographic location segmentation is simply dividing up the market according by consumer ______.

Answer 6

location

Question 7

a demographic is…

Answer 7

a vital or societal statistic of a human population

Question 8

Common ways to segment with demographics are…

Answer 8

• age
• gender
• ethnicity
• Income
• Marital status
• Number of children
• occupation

Question 9

Common ways to segment with geography are…

Answer 9

• Country
• City / Rural
• Zip Code
• Population Density
• Region within the Country
• Mountains, Desert, Tundra

Question 10

Examples of effective geographic segmentation are…

Answer 10

• target stores, for example, have a different mix of products for different regions. In the south, the stores sell more lightweight clothing items and flip flops.
• marketer who sells ski equipment, for example, can divide the market to focus on areas with, say, a mountainous terrain near ski resorts.
• Or, a small, local grocery store might only want to market to those consumers in the surrounding neighborhoods.

Question 11

Psychographic segmentation involves segmenting the market by consumer _____, ______, _____, and ______.

Answer 11

• activities
• values
• interests
• opinions/beliefs

Question 12

For psychographic information, marketers often need to ask customers about their _____, _____, or _____, which isn’t quite as clear cut as asking about customers’ ages or incomes.

Answer 12

• beliefs, values, attitudes

Question 13

Demographic data is usually ______, and data from sources such as the US Census Bureau make a wealth of demographic information readily available.

Answer 13

objective

Question 14

Common ways to segment with psychographic data are…

Answer 14

• Values
• Beliefs
• Attitudes
• Feelings
• Personality
• Lifestyle
• Activities and Interests
  Religious and Political Beliefs and Affiliations

Question 15

why is psychographic information to know?

Answer 15

it can serve as a strong driving force behind some product purchases.

Question 16

Segmenting the market by _____ ______ means that the population is divided based on how much they use (usage rate) or how they use (usage situation) a product.

Answer 16

usage behavior

Question 17

What is usage rate?

Answer 17

how much a consumer uses a product

Question 18

What is usage situation?

Answer 18

how a consumer uses a product