Question 1

Which of the following is the most accurate generalization of members of Generation Y?

Accepted Answer

A) Many people in this segment seem determined to have stable families after growing up as latchkey children. 
B) Members of this generation are currently responsible for the majority of new start-up businesses in the United States. 
C) Members of this generation were born in the years immediately following the end of World War II. 
D) Members of this generation are willing to spend money to stay young,healthy,and attractive. 
E) Members of this generation are more difficult to reach through television advertising than members of older generations are. 
A) Many people in this segment seem determined to have stable families after growing up as latchkey children. 
B) Members of this generation are currently responsible for the majority of new start-up businesses in the United States. 
C) Members of this generation were born in the years immediately following the end of World War II. 
D) Members of this generation are willing to spend money to stay young,healthy,and attractive. 
E) Members of this generation are more difficult to reach through television advertising than members of older generations are.

Question 2

________ means developing a marketing strategy aimed at influencing how a particular market segment perceives a good or service in comparison to the competition.

Accepted Answer

A) Concentrated targeting 
B) Positioning 
C) Benefit segmentation 
D) Mass customization 
E) Customerization 
A) Concentrated targeting 
B) Positioning 
C) Benefit segmentation 
D) Mass customization 
E) Customerization

Question 3

An industrial manufacturer that works with one or a few large clients and develops products that only these clients will use is most likely to implement a(n)________ strategy.

Accepted Answer

A) undifferentiated targeting 
B) homogeneous 
C) custom marketing 
D) bottom-of-pyramid 
E) differentiated targeting 
A) undifferentiated targeting 
B) homogeneous 
C) custom marketing 
D) bottom-of-pyramid 
E) differentiated targeting

Question 4

Which of the listed choices is NOT a positioning task?

Accepted Answer

A) identifying a set of possible competitive advantages 
B) surveying frequent uses of the product 
C) analyzing competitors' positions 
D) finalizing the marketing mix 
E) evaluating responses to the marketing mix 
A) identifying a set of possible competitive advantages 
B) surveying frequent uses of the product 
C) analyzing competitors' positions 
D) finalizing the marketing mix 
E) evaluating responses to the marketing mix

Question 5

The group of American consumers born between 1979 and 1994 are often called ________.

Accepted Answer

A) baby busters 
B) the silent majority 
C) Generation Y 
D) tweens 
E) Generation X 
A) baby busters 
B) the silent majority 
C) Generation Y 
D) tweens 
E) Generation X

Question 6

The ________ is the potential profit generated by a single customer's purchase of a firm's products over the customer's lifetime.

Accepted Answer

A) lifetime value of a customer 
B) priority of a customer 
C) segmentation of a customer 
D) share of a customer 
E) equity of a customer 
A) lifetime value of a customer 
B) priority of a customer 
C) segmentation of a customer 
D) share of a customer 
E) equity of a customer

Question 7

Once a(n)________ is set,the next step in positioning is for marketers to finalize the marketing mix.

Accepted Answer

A) segmentation variable 
B) positioning strategy 
C) demographic strategy 
D) customer relationship management system 
E) concentrated target 
A) segmentation variable 
B) positioning strategy 
C) demographic strategy 
D) customer relationship management system 
E) concentrated target

Question 8

Explain the relationship between one-to-one marketing and CRM.

Accepted Answer

One-to-one marketing is the concept of t

Question 9

When a firm offers one or more products to a single segment,it is using a ________ strategy.

Accepted Answer

A) fragmented 
B) homogeneous 
C) custom marketing 
D) mass customization 
E) concentrated targeting 
A) fragmented 
B) homogeneous 
C) custom marketing 
D) mass customization 
E) concentrated targeting

Question 10

Why do marketers segment the market and use a target marketing strategy?

Accepted Answer

Marketers divide heterogeneous markets i

Question 11

A CRM strategy allows a company to identify its best customers,stay on top of their needs,and increase their satisfaction.

Accepted Answer

A) True 
 B)False

Question 12

In developing a new shoe,Reebok targeted the youth market.It used ________ segmentation to define its target market.

Accepted Answer

A) lifestyle 
B) behavioral 
C) socioeconomic 
D) demographic 
E) psychographic 
A) lifestyle 
B) behavioral 
C) socioeconomic 
D) demographic 
E) psychographic

Question 13

Which of the following best explains why a company would adopt an undifferentiated targeting strategy when there is so much evidence of the benefits of a differentiated strategy?

Accepted Answer

A) to more efficiently focus on its CRM strategy 
B) to remove the need for disintermediation 
C) to move a product to the next stage of its product life cycle 
D) to take advantage of economies of scale 
E) to reach the underserved "bottom-of-pyramid" consumers 
A) to more efficiently focus on its CRM strategy 
B) to remove the need for disintermediation 
C) to move a product to the next stage of its product life cycle 
D) to take advantage of economies of scale 
E) to reach the underserved "bottom-of-pyramid" consumers

Question 14

Companies that successfully practice customer relationship management measure success by ________.

Accepted Answer

A) share of market and market growth rate 
B) business potential and industry potential 
C) share of customer and lifetime value of the customer 
D) PRIZM and VALS2 
E) cost of customer and duration of relationship with customer 
A) share of market and market growth rate 
B) business potential and industry potential 
C) share of customer and lifetime value of the customer 
D) PRIZM and VALS2 
E) cost of customer and duration of relationship with customer

Question 15

A retailer that wanted to target prospective grooms between the ages of 21 and 40 who are within six months of their marriage is using ________ segmentation to define its target market.

Accepted Answer

A) lifestyle 
B) behavioral 
C) socioeconomic 
D) demographic 
E) ethnicity 
A) lifestyle 
B) behavioral 
C) socioeconomic 
D) demographic 
E) ethnicity

Question 16

When the size and purchasing power of a target segment can be determined,it possesses the requirement of being ________.

Accepted Answer

A) measurable 
B) accessible 
C) substantial 
D) differentiable 
E) profitable 
A) measurable 
B) accessible 
C) substantial 
D) differentiable 
E) profitable

Question 17

Demographic variables are so frequently used in market segmentation because they ________.

Accepted Answer

A) create smaller segments than other methods do 
B) create more easily reached segments than other methods do 
C) do not involve stereotypes 
D) are easy to measure in comparison to many other methods 
E) involve fewer attributes to consider than other methods do 
A) create smaller segments than other methods do 
B) create more easily reached segments than other methods do 
C) do not involve stereotypes 
D) are easy to measure in comparison to many other methods 
E) involve fewer attributes to consider than other methods do

Question 18

To market Suave shampoo,Unilever used PRIZM to identify neighborhoods with high concentrations of young working women.These women responded best to advertisements conveying the message that Suave is inexpensive,yet will make their hair "look like they spend a fortune on it." What segmentation tool did Unilever use in this example?

Accepted Answer

A) geocoding 
B) geodemography 
C) the hierarchy of needs 
D) projective techniques 
E) ethnography 
A) geocoding 
B) geodemography 
C) the hierarchy of needs 
D) projective techniques 
E) ethnography

Question 19

To evaluate the different target segments your company is considering,you would look at all of the following factors EXCEPT which one?

Accepted Answer

A) segment size 
B) segment growth 
C) segment reachability 
D) company culture 
E) company resources 
A) segment size 
B) segment growth 
C) segment reachability 
D) company culture 
E) company resources

Question 20

Age and gender are examples of segmentation variables .

Accepted Answer

A) True 
 B)False

Which of the following is the most accurate generalization of members of Generation Y?

________ means developing a marketing strategy aimed at influencing how a particular market segment perceives a good or service in comparison to the competition.

An industrial manufacturer that works with one or a few large clients and develops products that only these clients will use is most likely to implement a(n)________ strategy.

Which of the listed choices is NOT a positioning task?

The group of American consumers born between 1979 and 1994 are often called ________.

The ________ is the potential profit generated by a single customer's purchase of a firm's products over the customer's lifetime.

Once a(n)________ is set,the next step in positioning is for marketers to finalize the marketing mix.

Explain the relationship between one-to-one marketing and CRM.

When a firm offers one or more products to a single segment,it is using a ________ strategy.

Why do marketers segment the market and use a target marketing strategy?

A CRM strategy allows a company to identify its best customers,stay on top of their needs,and increase their satisfaction.

In developing a new shoe,Reebok targeted the youth market.It used ________ segmentation to define its target market.

Which of the following best explains why a company would adopt an undifferentiated targeting strategy when there is so much evidence of the benefits of a differentiated strategy?

Companies that successfully practice customer relationship management measure success by ________.

A retailer that wanted to target prospective grooms between the ages of 21 and 40 who are within six months of their marriage is using ________ segmentation to define its target market.

When the size and purchasing power of a target segment can be determined,it possesses the requirement of being ________.

Demographic variables are so frequently used in market segmentation because they ________.

To evaluate the different target segments your company is considering,you would look at all of the following factors EXCEPT which one?

Age and gender are examples of segmentation variables .

Welcome to the World of Marketing: Create and Deliver Value

Strategic Market Planning: Take the Big Picture

Thrive in the Marketing Environment: the World Is Flat

Marketing Research: Gather, analyze, and Use Information

Consumer Behavior: How and Why We Buy

Business-To-Business Markets: How and Why Organizations Buy

Create the Product

Manage the Product

Services and Other Intangibles: Marketing the Product That Isnt There

Price the Product

Old and New Media: From One-To-Many to Many-To-Many

One to Many: Advertising, public Relations, and Consumer Sales Promotions

Many to Many: Trade Promotion, direct Marketing, and Personal Selling

Deliver Value Through Supply Chain Management, channels of Distribution, and Logistics

Retailing: Bricks and Clicks

Filters

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

Which of the following is the most accurate generalization of members of Generation Y?

________ means developing a marketing strategy aimed at influencing how a particular market segment perceives a good or service in comparison to the competition.

An industrial manufacturer that works with one or a few large clients and develops products that only these clients will use is most likely to implement a(n)________ strategy.

Which of the listed choices is NOT a positioning task?

The group of American consumers born between 1979 and 1994 are often called ________.

The ________ is the potential profit generated by a single customer's purchase of a firm's products over the customer's lifetime.

Once a(n)________ is set,the next step in positioning is for marketers to finalize the marketing mix.

Explain the relationship between one-to-one marketing and CRM.

When a firm offers one or more products to a single segment,it is using a ________ strategy.

Why do marketers segment the market and use a target marketing strategy?

A CRM strategy allows a company to identify its best customers,stay on top of their needs,and increase their satisfaction.

In developing a new shoe,Reebok targeted the youth market.It used ________ segmentation to define its target market.

Which of the following best explains why a company would adopt an undifferentiated targeting strategy when there is so much evidence of the benefits of a differentiated strategy?

Companies that successfully practice customer relationship management measure success by ________.

A retailer that wanted to target prospective grooms between the ages of 21 and 40 who are within six months of their marriage is using ________ segmentation to define its target market.

When the size and purchasing power of a target segment can be determined,it possesses the requirement of being ________.

Demographic variables are so frequently used in market segmentation because they ________.

To evaluate the different target segments your company is considering,you would look at all of the following factors EXCEPT which one?

Age and gender are examples of segmentation variables .

Welcome to the World of Marketing: Create and Deliver Value

Strategic Market Planning: Take the Big Picture

Thrive in the Marketing Environment: the World Is Flat

Marketing Research: Gather, analyze, and Use Information

Consumer Behavior: How and Why We Buy

Business-To-Business Markets: How and Why Organizations Buy

Create the Product

Manage the Product

Services and Other Intangibles: Marketing the Product That Isnt There

Price the Product

Old and New Media: From One-To-Many to Many-To-Many

One to Many: Advertising, public Relations, and Consumer Sales Promotions

Many to Many: Trade Promotion, direct Marketing, and Personal Selling

Deliver Value Through Supply Chain Management, channels of Distribution, and Logistics

Retailing: Bricks and Clicks

Filters