Advertising Chapter 2 - Josh Kelly Chapter 4 Review...

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Josh Kelly Chapter 4 Review Questions 1. The concept of Shared Characteristics is critical to market segmentation. Market Segmenting and advertising people know that, based on their needs, wants, and mental files, consumers leave “footprints in the sand” the telltale signs of where they live and work, what they buy, and how they spend their leisure time. 2. VALS is a process originated by Stanford Research Institute and it is used to segment U.S. consumers and predicting their purchase behavior. The VALS typology breaks consumers into eight groups based on the concept of primary motivation and resources. 3. Business markets are classified as manufactures, government agencies, wholesalers, retailers, banks, and institutions. These markets buy such items as raw materials electronic components, mechanical parts, office equipment, vehicles, or services used to conduct the business itself. These need to be segmented because business markets unlike a consumer market (items are purchased to be consumed) are used to run the business or
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Advertising Chapter 2 - Josh Kelly Chapter 4 Review...

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