In the needs-based segmentation approach proposed by Roger Best, what is the first step in the seven-step process?
Explanation
This question assesses knowledge of the sequential process for needs-based market segmentation as outlined by Roger Best and presented in Table 9.6.
Other questions
Effective target marketing requires marketers to follow a three-step process. What are the three steps, often referred to as the 'STP' of marketing?
What is the primary characteristic of the geoclustering approach called PRIZM (Potential Rating Index by Zip Markets) developed by Nielsen Claritas?
According to the examples of PRIZM Clusters, which segment is described as the nation’s tech-savvy singles and couples living in fashionable neighborhoods on the urban fringe?
In demographic segmentation, what is a key reason that age and life-cycle stage can be tricky variables for marketers?
What is the average amount a U.S. couple spends on their wedding reception, based on the May 2012 survey from Brides magazine?
What is the total amount that newlyweds in the United States spend on their households in the first year after marriage?
Based on research into gender-based shopping behavior, what is a key difference between how men and women typically interact with products?
Gillette's consumer research for its Venus razor identified a key behavioral insight about how women shave. What did Gillette discover?
What market trend has led companies to find that their markets are 'hourglass-shaped'?
Which generational cohort, also known as 'digital natives,' is described as having been wired almost from birth and is more likely to broadcast their thoughts and experiences online?
In PNC Bank's development of its 'Virtual Wallet', what two key findings from its research on the Gen Y cohort drove the product's design?
Which experiential tactic is described as a long-time sponsor of the U.S. Open of Surfing and the Warped tour to appeal to Millennials?
How are Gen X consumers generally characterized in contrast to the more optimistic, team-oriented Gen Yers?
What is the approximate annual spending power of the Baby Boomer generation, who were born between 1946 and 1964?
According to a survey of the Silent Generation, what percentage of respondents over 65 said they felt younger than their actual age?
Based on the Multicultural Market Profile table, what was the estimated population of Hispanic Americans in 2012?
What is the forecasted population for Asian Americans in the year 2060, according to the Multicultural Market Profile table?
What was the median household income for African Americans in 2011, as listed in the Multicultural Market Profile table?
Based on the research showing that more Hispanic consumers base purchase decisions on packaging, what was the sales increase for Kleenex at participating retailers after its 'Con Kleenex, Expresa Tu Hispanidad' campaign?
Psychographics, the science of using psychology and demographics to better understand consumers, is used to divide buyers into groups. The VALS framework is a popular classification system that is based on what two main dimensions?
Within the VALS framework, consumers are inspired by one of three primary motivations. What are these three motivations?
In the example of benefit segmentation in the U.S. premium wine market, which segment is the only one that skews male, has an average age of 35, and uses wine as a badge?
In the U.S. premium wine market, the 'Overwhelmed' segment finds purchasing wine confusing. What percentage of the market does this potentially attractive target market represent?
People play five roles in a buying decision: Initiator, Influencer, Decider, Buyer, and User. In the example of a wife requesting a new treadmill for her birthday, who is described as the key 'Influencer'?
Heavy users of a product are often a small slice of the market but account for a high percentage of total consumption. What percentage of total beer consumption is accounted for by heavy beer drinkers?
According to the marketing funnel example for two hypothetical brands, what percentage of people who ever tried Brand A became recent users?
Which group of consumers is defined as buying only one brand all the time, and can help a company identify its product's strengths?
What are the most important variables for segmenting business markets, followed by the operating variables?
What are the two parts of a flexible market offering that business-to-business marketers James C. Anderson and James A. Narus have urged marketers to present to all members of a segment?
Which of the following is NOT one of the five key criteria for useful and effective market segmentation?
According to Michael Porter, which scenario represents the most attractive segment in terms of entry and exit barriers?
When a firm attempts to serve all customer groups with all the products they might need, like Microsoft in the software market or Coca-Cola in the nonalcoholic beverage market, what is this strategy called?
In differentiated marketing, a firm sells different products to all the different segments of the market. Which company is cited as a prime example of practicing this strategy with its various lines of greeting cards like Fresh Ink, Mahogany, and Tree of Life?
When a firm selects a subset of all possible segments where each segment is objectively attractive and promises to be a moneymaker, it is practicing which type of segmentation strategy?
What is a 'supersegment'?
A niche is a more narrowly defined customer group seeking a distinctive mix of benefits. Which company is given as an example of a niche marketer that attacked the low-budget, insurance-replacement car rental market?
Chris Anderson's 'long-tail theory' is based on three premises. What is the effect of having more products available for sale, according to the second premise?
What is mass customization?
Market targeting can generate public controversy and ethical concerns when marketers are perceived to take unfair advantage of which groups?
What is the primary purpose of the Children’s Online Privacy Protection Act (COPPA)?
According to the Multicultural Market Profile table, what was the estimated population of Asian Americans in 2012?
What percentage of the population over age 25 had at least a high school education in 2012 among African Americans, according to the Multicultural Market Profile table?
The text discusses how life stage segmentation presents opportunities for marketers. Not everyone goes through life stages at a certain time, and the text notes that more than a quarter of all U.S. households now consist of how many people?
In the discussion of gender segmentation, a Yahoo survey revealed a shift in household roles. What did more than half of men identify themselves as in this survey?
What is grassroots marketing?
A study of kids ages 8 to 12 found that they have significant influence on family purchases. What percentage of these kids decided or influenced grocery purchases?
According to research on multicultural markets, which ethnic group is described as the most fashion-conscious, more likely to be influenced by their children when selecting a product, and heavy users of mobile data?
What is the primary reason that demographic variables are so popular with marketers for segmenting consumer markets?
What is the key criterion for a segment to be considered 'differentiable'?