Exercises

1. Give synonyms to the following words

Universe, to tailor, overall, affluent, to shrink, flourishing, significant, bearing, disposable, shelter, estimate, diverse, breed, affordable, decline, merchandise, modest, to gear, an inn, reluctant.

2. Explain the meaning of the following words and word combinations

Freight, allowance, wage, living expenses, luxuries, spending habits, mortgage, life expectancy, jogging, premium, vendor.

3. Make and practise short dialogues using the following word combinations

To identify target markets, to concentrate efforts on a product line and sales, to group potential customers according to some useful characteristic, to segment the market geographically, to be at a clear disadvantage, to launch advertising campaign, to run a household and raise a family, economic and social force, to create new demands for goods and services, to receive a plenty of marketing attention, to account for an increasing share of the population, to flood the market, to classify the customers on the basis of their attitude to products, to develop a marketing approach aimed at competitor’s possible weaknesses.

4. Answer the following questions

- How can market segmentation help company to boost its sales?

- What are the main approaches to market segmentation?

- What are the benefits of geographic segmentation for industrial markets?

- What factors does demographic segmentation include?

- Why is disposable personal income of a particular interest to marketers?

- What is brand loyalty?

- What companies are aimed at teenagers as a market segment?

- What type of advertising do marketers use in order to attract baby boomers?

- What products do baby boomers prefer?

- What is the main difference between baby boomers and over 50s generations?

- What advertising strategy is used by cosmetics company?

- What aspects are studied by behavioristic segmentation?

- What is psychological makeup?

5. List specific characteristics of market segmentation

6. Choose any market (product or service) and analyze all approaches to its segmentation

7. Group work. If you were a marketer, what product would you launch for your target market?

Group 1 - target market – teenagers;

Group 2 – target market – baby boomers;

Group 3 – target market – over 50s.

8. Put all possible questions to the following sentence from the text:

„ An industrial market might also be segmented geographically if custom­ers' needs were affected by their location.”

Date: 2015-01-29; view: 1092