ADV 3310 Exam 2
Identifying groups of people with shared needs and characteristics and combining these
groups into larger market segments according to their interest in a product's utility are
the two steps involved in
market segmentation
What are the categories of shared characteristics that marketers use to identify and
segment consumer markets?
1. demographic
2. psychographic
3. behavioristic
4. geographic
T/F: one of the best ways to segment markets is to group consumers by purchase
behavior
True
Symbolism- what a brand name means to the consumer, their friends, or to some social
reference group is an aspect of ______ segmentation
Benefit
Young-As-You-Feel Fitness uses ______ segmentation to target women over 50 who
can afford its in-home personal training and lifestyle coaching services
demographic
Select the steps involved in the market segmentation process
1. identifying groups of people or organizations with mutual needs and characteristics
2. joining groups into larger market segments based on their interest in the utility of a
product
For certain products, some advertisers use _______ to define consumer markets
because appealing to consumers' emotions and cultural values may be persuasive
psychographic segmentation
The goal of using shared characteristics in market segmentation is to allow marketers to
find the niche in which the company's product or service will fit
Organizations that buy natural resources, component products, and services that they
resell, use to conduct their business, or use to manufacture another product are
included in ______ markets
business