0% found this document useful (0 votes)
423 views4 pages

Chapter 4 Worksheet - Instructor Resources - Answer Key

Stukent Mod Marketing

Uploaded by

steinhad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
0% found this document useful (0 votes)
423 views4 pages

Chapter 4 Worksheet - Instructor Resources - Answer Key

Stukent Mod Marketing

Uploaded by

steinhad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 4

Worksheet

CHAPTER 4 WORKSHEET: Targeting and Segmentation

This assignment supports the following learning objectives:


● Define a target market
● Define market segmentation and understand major market segments
● Recognize the process of evaluating and selecting a target market

Notes
This assignment can be completed in class or given as take-home work.

The student version of this assignment is located in the chapter’s Student Resources
section in Edify. A sample answer key is provided on the page below.

Considerations
While there are 15 matching questions, much of this worksheet consists of open-ended
questions. Plan accordingly as you consider how to provide feedback and the amount
of time required to do so.

The combination of open- and closed-ended prompts on this worksheet may provide an
opportunity for in-class discussion, tying concepts to what is presented in the chapter.
CHAPTER 4 WORKSHEET: TARGETING AND SEGMENTATION
Answer Key
Name: Class Period: Date:

Instructions
Follow the directions.

PART A: TARGET MARKET


1. Briefly explain what a target market is and why it is important in a marketing strategy.
Answers will vary. Example: A target market is a group of people who are most likely
to purchase a company’s product. Target markets are important because they allow
companies to make their marketing efforts more efficient in order to get the highest
return on investment.

PART B: MARKET SEGMENTATION


1. Briefly explain what market segmentation is and why it is important in a marketing
strategy.
Answers will vary. Example: Market segmentation is the process companies use to
identify specific groups of customers they feel are most likely to purchase their
products. It is important because it allows companies to select the specific group(s)
they want to invest time and money in marketing to.

PART C: KEY TERMS


Match the following concepts with the correct example or definition
1. N multi-segment strategy money invested and the money
generated or returned by the investment
2. F generational segmentation B. a form of segmentation that divides the
market based on customer location
3. D target market
C. a form of segmentation that
4. I ideal customer divides the market based on the
benefit that is most important to
5. G psychographic segmentation the prospective customers

6. J demographic segmentation
7. O decision maker
A. a metric businesses use to judge
financial gains or losses based on the 8. K market segmentation
9. M behavior segmentation

10. L influencer
D. the group of people most likely to
11. C benefits segmentation purchase a product and to whom you
should focus your marketing efforts
12. B geographic segmentation E. the person who makes the actual
purchase
13. H purchasing pattern segmentation
F. baby boomers, millennials, etc.
14. A return on investment G. a form of segmentation that divides the
market based on data like geography
15. E buyer and demographics and then includes
even more purchasing factors: values,
lifestyle, social class, individual
personalities, etc.
H. a form of segmentation that divides the
market based on their buying habits
I. the person in a target market who is
most likely to be a repeat purchaser and
product evangelist
J. occupation, religion, age, etc.
K. the process a company takes to identify
specific groups of customers they feel
are most likely to purchase their
products
L. anyone whose opinion or approval will
affect the decision to purchase a
product
M. a form of segmentation that divides the
market based on the past behavior of a
customer or potential customer
N. the act of targeting two or more
segments with a unique marketing mix
for each segment
O. the person who gives the approval to put
funds toward the purchase
PART D: HOW TO CHOOSE A MARKET SEGMENT
The chapter presents four factors you must consider when selecting your target market.
Using your own words, describe the importance of each of the three presented below in
one sentence.

1. Measuring Success: Answers will vary. Example: Companies must measure success
in order to determine the performance of their choice of target market and the
performance of their marketing efforts.

2. Target Market Access: Answers will vary. Example: Target market access is
important because it helps companies save money on advertising.

3. Maintainable Marketing: Answers will vary. Example: Maintainable marketing is


important because it helps sustain budget and resources over a realistic period of
time.

PART E: DETERMINING THE IDEAL CUSTOMER


Provide a short answer for each of the following.

1. How is an ideal customer identified?


Answers will vary. Example: Ideal customers can be identified by tracking past buying
trends.

2. What company are you an ideal customer for?


Answers will vary. Example: Nike

3. Why are you an ideal customer for that company?


Answers will vary. Example: I am an ideal customer for Nike because I purchase a new
pair of Nike cleats for every football season.

You might also like