Podcast
Questions and Answers
What is the primary focus of segmenting consumers by 'benefits sought'?
What is the primary focus of segmenting consumers by 'benefits sought'?
- The qualities and advantages consumers expect to receive. (correct)
- The geographic location of consumers.
- The demographic characteristics of consumers.
- The volume of product purchased.
How do marketers utilize 'product usage rate' in market segmentation?
How do marketers utilize 'product usage rate' in market segmentation?
- To categorize consumers into heavy, medium, and light users. (correct)
- To determine the most effective pricing strategy.
- To assess the environmental impact of product consumption.
- To identify consumer brand preferences.
What does the 80/20 principle state in the context of product usage rate?
What does the 80/20 principle state in the context of product usage rate?
- 80% of product development should focus on the top 20 most profitable products.
- 80% of a product's revenue comes from 20% of its buyers. (correct)
- 80% of a company's marketing budget should target 20% of its customer base.
- 80% of customer service inquiries come from 20% of customers.
How do marketers typically use insights gained from the 80/20 principle?
How do marketers typically use insights gained from the 80/20 principle?
What does product-related segmentation by brand loyalty involve?
What does product-related segmentation by brand loyalty involve?
What is a primary challenge associated with psychographic classifications, compared to demographic classifications?
What is a primary challenge associated with psychographic classifications, compared to demographic classifications?
What are AIO statements used for in marketing research?
What are AIO statements used for in marketing research?
What is the purpose of firms using the data generated from psychographic studies?
What is the purpose of firms using the data generated from psychographic studies?
What is the definition of 'lifestyle' in the context of marketing and consumer behavior?
What is the definition of 'lifestyle' in the context of marketing and consumer behavior?
How has the use of social media platforms influenced the relationship between music artists and their fans?
How has the use of social media platforms influenced the relationship between music artists and their fans?
What demographic trend is leading marketers in the travel and leisure industries to focus on baby boomers?
What demographic trend is leading marketers in the travel and leisure industries to focus on baby boomers?
How are retailers responding to the increasing number of children being raised in a gender-neutral manner?
How are retailers responding to the increasing number of children being raised in a gender-neutral manner?
Chris Pegula created 'Diaper Dude' bags primarily because he noticed what trend?
Chris Pegula created 'Diaper Dude' bags primarily because he noticed what trend?
What is the primary focus of demographic segmentation?
What is the primary focus of demographic segmentation?
Which of the following is classified as a demographic measure?
Which of the following is classified as a demographic measure?
What is the main idea behind geographic segmentation?
What is the main idea behind geographic segmentation?
Why might marketers increase the marketing of snow blowers to consumers living in winter areas?
Why might marketers increase the marketing of snow blowers to consumers living in winter areas?
Market segmentation is best described as:
Market segmentation is best described as:
Which of the criteria below is used by marketers to determine the types of product development?
Which of the criteria below is used by marketers to determine the types of product development?
When Amazon acquired Whole Foods, what was a key alignment in their market segmentation strategies?
When Amazon acquired Whole Foods, what was a key alignment in their market segmentation strategies?
Flashcards
Benefits Sought Segmentation
Benefits Sought Segmentation
Divides consumer market into groups based on qualities and benefits people look for in goods/services.
Product Usage Rate Segmentation
Product Usage Rate Segmentation
Categorizes consumers by the amount of the product they buy and use.
80/20 Principle
80/20 Principle
80% of product's revenues come from 20% of its buyers.
Brand Loyalty Segmentation
Brand Loyalty Segmentation
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Psychographic Segmentation
Psychographic Segmentation
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AIO Statements
AIO Statements
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Demographic Segmentation
Demographic Segmentation
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Geographic Segmentation
Geographic Segmentation
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Market Segmentation
Market Segmentation
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