Question 1

Demographic variables are popular because they are often associated with consumer needs and wants and they are easy to measure.

Accepted Answer

A) True 
 B)False

Question 2

Robert is the owner of an automobile manufacturing company.He calls for a board meeting and tells his directors that he wants to build a car that lets the users experience power and exhilaration.He tells them that the car must allow his users to soar from 0-60 mph in about 4 seconds.He also adds in that the price of the car must be affordable enough for any man making a good salary.In accordance with the given scenario,Robert is trying to segment the market on the basis of ________.

Accepted Answer

A)  occupation 
B)  family size 
C)  benefits 
D)  nationality 
E)  user status 
A)  occupation 
B)  family size 
C)  benefits 
D)  nationality 
E)  user status

Question 3

A market segment consists of a group of consumers who share a similar set of needs and wants.

Accepted Answer

A) True 
 B)False

Question 4

In ________ marketing,the firm ignores segment differences and goes after the whole market with one offer.

Accepted Answer

A)  niche 
B)  mass 
C)  guerrilla 
D)  segmented 
E)  differentiated 
A)  niche 
B)  mass 
C)  guerrilla 
D)  segmented 
E)  differentiated

Question 5

The sale of turkeys in the United States is highest in mid-to late November,as people buy turkeys to serve at Thanksgiving.Grocery stores who specifically advertise turkeys at this time of year are segmenting on the basis of ________.

Accepted Answer

A)  benefits 
B)  user status 
C)  buyer-readiness stage 
D)  demographics 
E)  occasion 
A)  benefits 
B)  user status 
C)  buyer-readiness stage 
D)  demographics 
E)  occasion

Question 6

All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs,a strong market presence,operating economies through specializing in production,distribution,and promotion.

Accepted Answer

A)  single-segment concentration 
B)  selective specialization 
C)  product specialization 
D)  market specialization 
E)  full market coverage 
A)  single-segment concentration 
B)  selective specialization 
C)  product specialization 
D)  market specialization 
E)  full market coverage

Question 7

Briefly describe product specialization and market specialization.

Accepted Answer

With product specialization,the firm sel

Question 8

When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes,equipment,and clothing to many of them,Nike is using which of the following marketing formats?

Accepted Answer

A)  differentiated marketing 
B)  affiliate marketing 
C)  guerrilla marketing 
D)  affinity marketing 
E)  grassroots marketing 
A)  differentiated marketing 
B)  affiliate marketing 
C)  guerrilla marketing 
D)  affinity marketing 
E)  grassroots marketing

Question 9

The norms,language nuances,buying habits,and business practices of multicultural markets need to be factored into the initial formulation of a marketing strategy,rather than added as an afterthought.

Accepted Answer

A) True 
 B)False

Question 10

Members of Generation Y are generally open to overt branding practices and a "hard sell," making product placements in computer and video games a popular way to reach this cohort.

Accepted Answer

A) True 
 B)False

Question 11

The key to attracting potential users,or even possibly nonusers,is ________.

Accepted Answer

A)  understanding the reasons they are not using 
B)  offering financial incentives for first-time use 
C)  increasing the usage rate of existing users 
D)  developing a new product that better meets their needs 
E)  increasing advertising expenditures 
A)  understanding the reasons they are not using 
B)  offering financial incentives for first-time use 
C)  increasing the usage rate of existing users 
D)  developing a new product that better meets their needs 
E)  increasing advertising expenditures

Question 12

Life stage defines a person's age.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following best represents the chief advantage of pursuing a selective specialization multisegment strategy?

Accepted Answer

A)  It makes the company almost bulletproof to competitors' actions. 
B)  It diversifies the firm's risk. 
C)  It creates synergy between markets. 
D)  It is a low-cost strategy. 
E)  It treats all buyers the same and, therefore, lowers promotion costs. 
A)  It makes the company almost bulletproof to competitors' actions. 
B)  It diversifies the firm's risk. 
C)  It creates synergy between markets. 
D)  It is a low-cost strategy. 
E)  It treats all buyers the same and, therefore, lowers promotion costs.

Question 14

If a marketer is seeking to segment a business market,which of the following variables is generally felt to be the most important?

Accepted Answer

A)  personal characteristics 
B)  demographic variables 
C)  situational factors 
D)  operating variables 
E)  purchasing approaches 
A)  personal characteristics 
B)  demographic variables 
C)  situational factors 
D)  operating variables 
E)  purchasing approaches

Question 15

In the ________ step of the market segmentation process,the marketer evaluates the segment using criteria such as market growth and market access.

Accepted Answer

A)  need-based segmentation 
B)  segment identification 
C)  segment attractiveness 
D)  segment profitability 
E)  segment "acid test" 
A)  need-based segmentation 
B)  segment identification 
C)  segment attractiveness 
D)  segment profitability 
E)  segment "acid test"

Question 16

The process of selecting one or more market segments to enter is called ________.

Accepted Answer

A)  market targeting 
B)  market dominance 
C)  market positioning 
D)  market segmentation 
E)  market research 
A)  market targeting 
B)  market dominance 
C)  market positioning 
D)  market segmentation 
E)  market research

Question 17

________ combines operationally driven mass customization with customized marketing in a way that empowers consumers to design the product service offering of their choice.

Accepted Answer

A)  Consumptionism 
B)  Viral marketing 
C)  Virtual marketing 
D)  Regionalization 
E)  Customerization 
A)  Consumptionism 
B)  Viral marketing 
C)  Virtual marketing 
D)  Regionalization 
E)  Customerization

Question 18

An attractive niche consists of customers having a distinct set of needs.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following statements about Gen Xers is true?

Accepted Answer

A)  Gen Xers are more optimistic and team-oriented. 
B)  Gen Xers are selective, confident, and impatient. 
C)  Gen Xers highly socially conscious and concerned about environmental issues. 
D)  Gen Xers feel self-sufficiency and the ability to handle any circumstance are key. 
E)  Technology is a barrier for Gen Xers. 
A)  Gen Xers are more optimistic and team-oriented. 
B)  Gen Xers are selective, confident, and impatient. 
C)  Gen Xers highly socially conscious and concerned about environmental issues. 
D)  Gen Xers feel self-sufficiency and the ability to handle any circumstance are key. 
E)  Technology is a barrier for Gen Xers.

Question 20

In evaluating different market segments,the firm must look at two factors: the segment's overall attractiveness and ________.

Accepted Answer

A)  the company's objectives and resources 
B)  the effectiveness of the suppliers 
C)  the flexibility of legal rules governing the business 
D)  the socio-economic infrastructure 
E)  the global nature of the product 
A)  the company's objectives and resources 
B)  the effectiveness of the suppliers 
C)  the flexibility of legal rules governing the business 
D)  the socio-economic infrastructure 
E)  the global nature of the product

Demographic variables are popular because they are often associated with consumer needs and wants and they are easy to measure.

A market segment consists of a group of consumers who share a similar set of needs and wants.

In ________ marketing,the firm ignores segment differences and goes after the whole market with one offer.

The sale of turkeys in the United States is highest in mid-to late November,as people buy turkeys to serve at Thanksgiving.Grocery stores who specifically advertise turkeys at this time of year are segmenting on the basis of ________.

All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs,a strong market presence,operating economies through specializing in production,distribution,and promotion.

Briefly describe product specialization and market specialization.

When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes,equipment,and clothing to many of them,Nike is using which of the following marketing formats?

The norms,language nuances,buying habits,and business practices of multicultural markets need to be factored into the initial formulation of a marketing strategy,rather than added as an afterthought.

Members of Generation Y are generally open to overt branding practices and a "hard sell," making product placements in computer and video games a popular way to reach this cohort.

The key to attracting potential users,or even possibly nonusers,is ________.

Life stage defines a person's age.

Which of the following best represents the chief advantage of pursuing a selective specialization multisegment strategy?

If a marketer is seeking to segment a business market,which of the following variables is generally felt to be the most important?

In the ________ step of the market segmentation process,the marketer evaluates the segment using criteria such as market growth and market access.

The process of selecting one or more market segments to enter is called ________.

________ combines operationally driven mass customization with customized marketing in a way that empowers consumers to design the product service offering of their choice.

An attractive niche consists of customers having a distinct set of needs.

Which of the following statements about Gen Xers is true?

In evaluating different market segments,the firm must look at two factors: the segment's overall attractiveness and ________.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Creating Long-term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Creating Brand Equity

Crafting the Brand Positioning and Competing Effectively

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Managing Marketing in the Global Economy

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Exam 7: Identifying Market Segments and Targets

Demographic variables are popular because they are often associated with consumer needs and wants and they are easy to measure.

A market segment consists of a group of consumers who share a similar set of needs and wants.

In ________ marketing,the firm ignores segment differences and goes after the whole market with one offer.

The sale of turkeys in the United States is highest in mid-to late November,as people buy turkeys to serve at Thanksgiving.Grocery stores who specifically advertise turkeys at this time of year are segmenting on the basis of ________.

All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs,a strong market presence,operating economies through specializing in production,distribution,and promotion.

Briefly describe product specialization and market specialization.

When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes,equipment,and clothing to many of them,Nike is using which of the following marketing formats?

The norms,language nuances,buying habits,and business practices of multicultural markets need to be factored into the initial formulation of a marketing strategy,rather than added as an afterthought.

Members of Generation Y are generally open to overt branding practices and a "hard sell," making product placements in computer and video games a popular way to reach this cohort.

The key to attracting potential users,or even possibly nonusers,is ________.

Life stage defines a person's age.

Which of the following best represents the chief advantage of pursuing a selective specialization multisegment strategy?

If a marketer is seeking to segment a business market,which of the following variables is generally felt to be the most important?

In the ________ step of the market segmentation process,the marketer evaluates the segment using criteria such as market growth and market access.

The process of selecting one or more market segments to enter is called ________.

________ combines operationally driven mass customization with customized marketing in a way that empowers consumers to design the product service offering of their choice.

An attractive niche consists of customers having a distinct set of needs.

Which of the following statements about Gen Xers is true?

In evaluating different market segments,the firm must look at two factors: the segment's overall attractiveness and ________.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Creating Long-term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Creating Brand Equity

Crafting the Brand Positioning and Competing Effectively

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Managing Marketing in the Global Economy

Filters