Scenario 4-5 Jay and Carrie Garrett Operate a Small Retail Store in Store

question 7

Multiple Choice

Scenario 4-5
Jay and Carrie Garrett operate a small retail store in a college town that sells only house plants and accessories called The Plantatarium. Their initial feeling when they went into business was that virtually everyone was a potential customer for house plants. Subsequent market research conducted for them painted a different picture. This research identified three particularly strong market segments. The first was college students ages 18-24. The next segment was retired seniors ages 65-80. The third segment was professional offices for doctors, accountants, and lawyers. The college students liked houseplants because they dressed up their living spaces. The senior liked them because they became the focus of a hobby. The professionals did not buy them for any other reason than décor.
-(Scenario 4-5) A few customers told the owners of the Plantatarium that they would like to see them carry a few varieties of cactus. The Garretts decided to devote a small corner of their store exclusively to cacti. These customers constitute an example of a ____.

• A) demographic segmentation
• B) psychographic segmentation
• C) market niche
• D) positioning

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Definitions:

Delphinium Nudicaule

A species of perennial flower in the buttercup family known for its vivid red-orange flowers, commonly referred to as the red larkspur.

Punctuated Equilibrium

Model of evolutionary change in a species which suggests that there are long periods of little or no change, followed by brief periods of rapid speciation.

Phyletic Gradualism

Phyletic gradualism is an evolutionary model suggesting that species evolve through a gradual change of populations over long periods of time.