Question 1

Give an example of how a company might target products to children in an ethical way.

Accepted Answer

The public is concerned when marketers t

Question 2

PRIZM was developed by Claritas Inc.Explain what PRIZM is intended to do.

Accepted Answer

PRIZM stands for Potential Rating Index

Question 3

Marketers usually identify niches by ________.

Accepted Answer

A) dividing a segment into subsegments 
B) conducting VALS tests 
C) allowing consumers to gravitate toward product brands 
D) examining the demographics section of The Handbook of Marketing 
E) producing products that can be used in a variety of ways 
A) dividing a segment into subsegments 
B) conducting VALS tests 
C) allowing consumers to gravitate toward product brands 
D) examining the demographics section of The Handbook of Marketing 
E) producing products that can be used in a variety of ways

Question 4

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 5

What is customer cloning and how is it used?

Accepted Answer

Customer cloning is a way of i

Question 6

A company can be said to have used ________ if the company distinguished among customers buying on the basis of price,service,and quality.

Accepted Answer

A) macrosegmentation 
B) microsegmentation 
C) strategic segmentation 
D) global segmentation 
E) short-term segmentation 
A) macrosegmentation 
B) microsegmentation 
C) strategic segmentation 
D) global segmentation 
E) short-term segmentation

Question 7

How are brands likely to position themselves if they are competing in a market that demonstrates diffused preferences?

Accepted Answer

Consumers with diffused preferences vary

Question 8

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 9

If a marketer decides to segment a market based on neighborhoods,the marketer will have chosen the ________ method of segmentation.

Accepted Answer

A) demographic 
B) psychographic 
C) geographic 
D) cultural 
E) social class 
A) demographic 
B) psychographic 
C) geographic 
D) cultural 
E) social class

Question 10

If a marketing researcher uses such names (categories)as Blue Blood Estates,Winner's Circle,Hometown Retired,or Shotguns and Pickups when doing segmentation research,the marketing researcher is using ________ clusters.

Accepted Answer

A) PRIZM 
B) geodemographic 
C) psychographic 
D) demographic 
E) VALS 
A) PRIZM 
B) geodemographic 
C) psychographic 
D) demographic 
E) VALS

Question 11

The Conversion Model measures the strength of consumers' psychological commitment to brands and their openness to change.Identify and describe the four segments of brand users and the four segments of nonusers.

Accepted Answer

Brand users can be divided into four seg

Question 12

Effective target marketing requires that marketers use market segmentation,market targeting,and market positioning to achieve success in the marketplace.

Accepted Answer

A) True 
 B)False

Question 13

________ 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) Consumptionization 
B) Viral marketing 
C) Virtual marketing 
D) Regionalization 
E) Customerization 
A) Consumptionization 
B) Viral marketing 
C) Virtual marketing 
D) Regionalization 
E) Customerization

Question 14

You have decided to take a purchasing approach to segmenting a proposed business market.All of the following would be potential means (subsegments)for segmenting under the "purchasing approach" EXCEPT ________.

Accepted Answer

A) purchasing-function organization 
B) power structure 
C) specific application 
D) nature of existing relationships 
E) purchasing criteria 
A) purchasing-function organization 
B) power structure 
C) specific application 
D) nature of existing relationships 
E) purchasing criteria

Question 15

Illustrations of personality segmentation would include culture-oriented,sports-centered,or outdoor-oriented subsegments.

Accepted Answer

A) True 
 B)False

Question 16

A local service company has decided to segment its market based on occupation;therefore,it has chosen a form of demographic segmentation for its approach.

Accepted Answer

A) True 
 B)False

Question 17

With ________ as a target market strategy,the firm concentrates on serving many needs of a particular customer group.

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 18

If a marketing manager observes that his or her market shows no natural segments and consumers seem to have roughly the same preferences,the marketing manager will most likely be faced with a ________ preferences pattern.

Accepted Answer

A) homogeneous 
B) heterogeneous 
C) diffused 
D) clustered 
E) scattered 
A) homogeneous 
B) heterogeneous 
C) diffused 
D) clustered 
E) scattered

Question 19

People in the same demographic group generally exhibit similar psychographic profiles.

Accepted Answer

A) True 
 B)False

Question 20

Users of a brand can be segmented into several groups based on the strength of commitment to the brand.If a brand manager is seeking to identify those users who are actively considering alternative brands,he or she should look for users that are labeled as ________.

Accepted Answer

A) convertible 
B) shallow 
C) average 
D) entrenched 
E) latent 
A) convertible 
B) shallow 
C) average 
D) entrenched 
E) latent

Exam 8: Identifying Market Segments and Targets

Give an example of how a company might target products to children in an ethical way.

PRIZM was developed by Claritas Inc.Explain what PRIZM is intended to do.

Marketers usually identify niches by ________.

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

What is customer cloning and how is it used?

A company can be said to have used ________ if the company distinguished among customers buying on the basis of price,service,and quality.

How are brands likely to position themselves if they are competing in a market that demonstrates diffused preferences?

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

If a marketer decides to segment a market based on neighborhoods,the marketer will have chosen the ________ method of segmentation.

If a marketing researcher uses such names (categories)as Blue Blood Estates,Winner's Circle,Hometown Retired,or Shotguns and Pickups when doing segmentation research,the marketing researcher is using ________ clusters.

The Conversion Model measures the strength of consumers' psychological commitment to brands and their openness to change.Identify and describe the four segments of brand users and the four segments of nonusers.

Effective target marketing requires that marketers use market segmentation,market targeting,and market positioning to achieve success in the marketplace.

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

You have decided to take a purchasing approach to segmenting a proposed business market.All of the following would be potential means (subsegments)for segmenting under the "purchasing approach" EXCEPT ________.

Illustrations of personality segmentation would include culture-oriented,sports-centered,or outdoor-oriented subsegments.

A local service company has decided to segment its market based on occupation;therefore,it has chosen a form of demographic segmentation for its approach.

With ________ as a target market strategy,the firm concentrates on serving many needs of a particular customer group.

If a marketing manager observes that his or her market shows no natural segments and consumers seem to have roughly the same preferences,the marketing manager will most likely be faced with a ________ preferences pattern.

People in the same demographic group generally exhibit similar psychographic profiles.

Users of a brand can be segmented into several groups based on the strength of commitment to the brand.If a brand manager is seeking to identify those users who are actively considering alternative brands,he or she should look for users that are labeled as ________.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Creating Customer Value, satisfaction, and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Creating Brand Equity

Crafting the Brand Positioning

Dealing With Competition

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Managing Retailing, wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Introducing New Market Offerings

Tapping Into Global Markets

Managing a Holistic Marketing Organization

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