Exam 7: Sharpen the Focus: Target Marketing Strategies and Customer Relationship Management

Honor,a market researcher for a packaged goods company,is segmenting a population of consumers based on how frequently they buy different types of packaged goods.Honor is using behavioral segmentation.

Which of the following most accurately describes VALS2?

BMW allows customers to design their own vehicles from a set of options at BMW's Web site.What is this called?

The Wright Bros.Collection is a catalog retailer that sells clothing and collectibles to aviation enthusiasts.Its ________ might be men and women between the ages of 25 and 55 who are risk takers.They belong to organizations such as the American Legion,the VFW,and the National Rifle Association of America.They are either pilots themselves or have close ties to a pilot.They prefer camping to taking a luxury cruise.Annually,they spend $900 on items purchased from nonstore retailers.

Superior image,unique product features,and better service are all examples of ________.

Which of the following statements about the lifetime value of a customer is true?

Airlines have developed frequent-flyer programs to encourage passengers to use the same airlines repeatedly.These programs and other similar ones use ________ segmentation to target their markets.

Which of the following most accurately describes PRIZM?

The division of buyers into groups based on lifestyle or personality characteristics is ________ segmentation.

The 80/20 rule is most directly related to ________ segmentation.

The cosmetics giant L'Oreal offers several product lines at a variety of prices.It targets the luxury market with its brand Helena Rubinstein,while less expensive offerings such as Elseve are targeted to large department stores and discounters.Is this practice a differentiated targeting strategy or an undifferentiated targeting strategy? Explain your answer.

According to the long tail approach to selling,________.

Which of the following is true of perceptual maps?

Hispanic Americans tend to be brand loyal,especially to products made in their country of origin.

Which of the following statements about customer relationship management (CRM)programs is true?

How do marketers use the assumption that "birds of a feather flock together"?

The first step in developing a positioning strategy is to ________.

Which of the following best explains why marketers do not consider social class segments as strictly as they once did?

What are the steps,in order,of the target marketing process?

Explain how a computer company might use mass customization to meet the needs of its customers.