Market Segmentation and Target Marketing

Complete the worksheet handed out on 2/27.  The same questions are listed below.  This will serve as a great review for the quiz and test for this chapter.

1.       Define the Term “MARKET”.

 

2.       Define the Term “TARGET MARKET”.

 

3.       Give me three examples of a CONSUMER product and three examples of a BUSINESS product.

 

 

4.       What is MARKET SEGMENTATION?

 

5.       What are TWO criteria for EFFECTIVE Market Segmentation?

 

 

6.       Name 4 ways in which you could segment a Consumer Market.

 

 

7.       What is DEMOGRAPHIC SEGMENTATION?  List four categories of Demographic Segmentation.

 

 

 

8.       Give me one fact about “TEENS and TWEENS”, “GENERATION X”, “BABY BOOMERS”, “SENIORS”.

 

 

 

 

 

9.       What is a characteristic of Empty Nesters?

 

10.   What is a “boomerang” in the Family Life Cycle?

 

11.   Describe ENGEL’S Law.

 

 

12.   What is Product Related Segmentation?

 

 

13.   Describe the 80/20 principle.

 

 

14.   What is UNDIFFERENTIATED MARKETING?

 

 

15.   What is DIFFERENTIATED MARKETING?

 

16.   What is another term for “CONCENTRATED MARKETING”?

 

17.   What is POSITIONING?