Describing segments is the second step in the Segmentation-Targeting-Positioning process. In this step, firms break down the entiremarket into segments with similar qualities, using a variety of methods and tools.There is no single best way to segment a market. Firms choose methods based on the type of goods/services they offer and on theirgoals. For instance, if the firm wants to identify its customers easily, geographic or demographic segmentation likely will work best. Butif it wishes to dig deeper into why customers might buy its offering, then lifestyle, benefits, or loyalty segmentation are moreappropriate. Geodemographic segmentation provides a blend f geographic, demographic, and psychographic approaches. Typically,a combination of several segmentation methods is most effective.Read and match each statement to the segmentation method it exemplifies.BoomtownSinglesHybrid CarMetro GearDeodorantThinkers (VALSsegment)SnowblowersCollege MalesNew MomsNortheastVideos for BabiesMethodGeographicDemographicPsychographicBenefitGeodemographicProductSnowblowersTargeted segment

Segmentation helps in better targeting of the resources of an organization. It helps in effectively…

Answered: Boomtown Singles Hybrid Car Metro Gear…

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter6: Target Markets: Segmentation And Evaluation

Section: Chapter Questions

Problem 2DYMP

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Explain in detail Helene is the Marketing VP for The Ultimate Shoe Company. The Company wants to expand sales in the women's occupational footwear market (shoes women wear to work in construction, food service, healthcare, etc). A research firm has identified five different segments in the market. Which of the below should Helene consider when deciding which of the five segments will make the best ones for the firm to target? Multiple answers are right: O segment growth potentialO values and lifestyles of segment membersO the segment's psychographic profileO accessibility of the segmentO segment profit potentialO whether the segment is actionable
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This is for a online tutoring business hypothetical that is starting out at small college and then expanding. Fill out the market analysis: Market Segmentation: This section is where you will define the main market segments as well as the one or two you will be targeting. Begin with the Total Available Market (TAM) within the industry you plan to compete for. This includes all types of customers that have an interest in or need for your particular products or services. Total Available Market (TAM): After defining the industry, provide some data on the total number of prospects in the industry or your more narrowly defined market. Is it the number of people above a certain income or households? Is it all businesses between $50 and $150 million? Is it all mothers? Is it all teenagers that drive cars? Serviceable Available Market (SAM):
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Marketing

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9780357033791

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Pride, William M

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South Western Educational Publishing

Marketing

ISBN:

9780357033791

Author:

Pride, William M

Publisher:

South Western Educational Publishing

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Boomtown Singles Hybrid Car Metro Gear Deodorant Thinkers (VALS segment) Snowblowers College Males New Moms Northeast Videos for Babies Method Geographic Demographic Psychographic Benefit Geodemographic Product Snowblowers Targeted segment