Which of the following is the process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics? What are the steps, in order, of the... Which of the following is the process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics? What are the steps, in order, of the target marketing process? Which of the following is NOT an example of a demographic segmentation variable? The supermarket sells boxes of pink diapers and blue diapers. This is an example of segmenting by ________. Because family needs and expenditures change over time, marketers may segment consumers by ________. Your firm has decided to tailor its products and services to meet local market demands. A good approach to use would be ________ segmentation. The division of buyers into groups based on lifestyle or personality characteristics is ________ segmentation. Mass marketers such as Walmart often ignore market segment differences and target the whole market with one offer. What is this approach to targeting? The ________ for a guest paying for a night's stay at a hotel is the use of a bed, bathroom, towels, dresser, light, and closet. ________ include convenience products, shopping products, specialty products, and unsought products. Consumers usually know a good deal about ________ and are loyal to specific brands. ________ are consumer products for which a consumer either has little awareness or interest until a need arises. These products require a lot of advertising, personal selling, and other marketing efforts. Nondurable goods are more likely than durable goods to be purchased under conditions of high involvement. A consumer doesn't have to learn anything new to use a ________. ________ are the last in the population to adopt a new product. The most appropriate strategy for a firm that wants consumers to see it as a specialist with a clear, specific position in the market is a(n) ________. Which stage in the product life cycle is characterized by rapidly increasing sales and increasing profits? In which stage of the product life cycle will promotional expenditures be especially high in an attempt to create consumer awareness? Arm & Hammer began as a producer of baking soda. Now the company manufactures detergents, deodorants, and fabric softeners under the Arm & Hammer brand name. Arm & Hammer uses a ________ strategy.
Understand the Problem
The user is presenting a series of questions related to marketing concepts, specifically targeting and segmentation in marketing. The questions also cover topics such as product life cycles and various types of consumer products. These concepts are fundamental to understanding market strategies and consumer behavior in business.
Answer
Market segmentation is the process of dividing a larger market into smaller pieces based on shared characteristics.
The process of dividing a larger market into smaller pieces based on shared characteristics is market segmentation. The steps of the target marketing process are market segmentation, market targeting, and market positioning. Demographic segmentation variables do not include lifestyle or personality (psychographic). The supermarket selling pink and blue diapers segments by gender. Marketers may use life cycle segmentation to address changing family needs and expenditures. Tailoring products to meet local demands can be done through geographic segmentation. Segmentation by lifestyle or personality characteristics is psychographic segmentation. The approach ignoring segment differences is mass marketing. The core product for a hotel guest includes essential services like bed and towels. Consumer products classification includes convenience, shopping, specialty, and unsought products. Specialty products have familiar loyal consumers. Unsought products require significant marketing efforts. Low involvement purchases suit existing products or line extensions requiring no new learning. Laggards are the last group to adopt a new product. A firm wanting a specialist position uses a niche strategy. The growth stage is characterized by rapidly increasing sales and profits. High promotional expenditures are needed in the introduction stage of the product life cycle. Arm & Hammer's strategy of expanding product lines is brand extension.
Answer for screen readers
The process of dividing a larger market into smaller pieces based on shared characteristics is market segmentation. The steps of the target marketing process are market segmentation, market targeting, and market positioning. Demographic segmentation variables do not include lifestyle or personality (psychographic). The supermarket selling pink and blue diapers segments by gender. Marketers may use life cycle segmentation to address changing family needs and expenditures. Tailoring products to meet local demands can be done through geographic segmentation. Segmentation by lifestyle or personality characteristics is psychographic segmentation. The approach ignoring segment differences is mass marketing. The core product for a hotel guest includes essential services like bed and towels. Consumer products classification includes convenience, shopping, specialty, and unsought products. Specialty products have familiar loyal consumers. Unsought products require significant marketing efforts. Low involvement purchases suit existing products or line extensions requiring no new learning. Laggards are the last group to adopt a new product. A firm wanting a specialist position uses a niche strategy. The growth stage is characterized by rapidly increasing sales and profits. High promotional expenditures are needed in the introduction stage of the product life cycle. Arm & Hammer's strategy of expanding product lines is brand extension.
More Information
Market segmentation is key for businesses to identify and target specific groups effectively, allowing for tailored marketing strategies. This approach enhances product relevance and customer satisfaction.
Tips
Confusing psychographic variables with demographic ones is common. It's important to distinguish between characteristics like age or income (demographic) and lifestyle or personality (psychographic).
