Question 1

________ variables segment markets in terms of shared activities,interests,and opinions.

Accepted Answer

A) Demographic 
B) Ethnographic 
C) Geodemographic 
D) Socioeconomic 
E) Psychographic 
A) Demographic 
B) Ethnographic 
C) Geodemographic 
D) Socioeconomic 
E) Psychographic

Question 2

Which of the following most accurately describes PRIZM?

Accepted Answer

A) a method of removing heterogeneous variables from a target market 
B) a method of data mining used to implement market development strategies 
C) a database that classifies the U.S.population into segments based on socioeconomic data and lifestyle attributes 
D) a database that classifies the international population into segments based on demographic and geographic characteristics 
E) a positioning strategy used in the introduction of new consumer products 
A) a method of removing heterogeneous variables from a target market 
B) a method of data mining used to implement market development strategies 
C) a database that classifies the U.S.population into segments based on socioeconomic data and lifestyle attributes 
D) a database that classifies the international population into segments based on demographic and geographic characteristics 
E) a positioning strategy used in the introduction of new consumer products

Question 3

Perceptual maps are tools for identifying the positions of brands in consumers' minds.

Accepted Answer

A) True 
 B)False

Question 4

________ is a term for men who are keenly interested in fashion,home design,gourmet cooking,and personal care.

Accepted Answer

A) Tween 
B) Buster 
C) Metrosexual 
D) Bachelor 
E) Slacker 
A) Tween 
B) Buster 
C) Metrosexual 
D) Bachelor 
E) Slacker

Question 5

________ is a well-known system based on psychological traits that correlate with consumer behavior.It divides the entire U.S.population into segments and then sells pieces of this information to clients for specific strategic applications.

Accepted Answer

A) VALS™ 
B) Decitica 
C) AIO 
D) PRIZM 
E) NAICS 
A) VALS™ 
B) Decitica 
C) AIO 
D) PRIZM 
E) NAICS

Question 6

Holiday Inn has divided the total customer market into smaller segments and selected the most promising segments.Deciding what position it wants to occupy in these segments is called targeting.

Accepted Answer

A) True 
 B)False

Question 7

The elements of the marketing mix must match the ________.

Accepted Answer

A) competitive advantage 
B) perceptual map 
C) selected segment 
D) indirect competition 
E) direct competition 
A) competitive advantage 
B) perceptual map 
C) selected segment 
D) indirect competition 
E) direct competition

Question 8

Of the following generations,which has the youngest members?

Accepted Answer

A) baby boomers 
B) echo boomers 
C) Generation X 
D) Generation Y 
E) Generation Z 
A) baby boomers 
B) echo boomers 
C) Generation X 
D) Generation Y 
E) Generation Z

Question 9

The majority of Generation Y consumers are unmarried.

Accepted Answer

A) True 
 B)False

Question 10

A perceptual map is used to ________.

Accepted Answer

A) compare and contrast consumer psychographic segments 
B) create consumer cross-tabulations for marketing research 
C) locate consumers within a geographic information system 
D) determine how consumers position products in relation to one another 
E) identify the critical stage of the targeting process for the marketer 
A) compare and contrast consumer psychographic segments 
B) create consumer cross-tabulations for marketing research 
C) locate consumers within a geographic information system 
D) determine how consumers position products in relation to one another 
E) identify the critical stage of the targeting process for the marketer

Question 11

Companies can customize online advertising by ________ so that people who log on in different places will see ad banners for local businesses.

Accepted Answer

A) geotargeting 
B) geodemography 
C) geodiversity 
D) psychographics 
E) profiling 
A) geotargeting 
B) geodemography 
C) geodiversity 
D) psychographics 
E) profiling

Question 12

Differentiated marketing can involve connecting the same product with different market segments by communicating differently to each segment.

Accepted Answer

A) True 
 B)False

Question 13

Marketers must balance the ________ of mass marketing with the ________ of offering each individual customer exactly what he wants.

Accepted Answer

A) efficiency;effectiveness 
B) effectiveness;efficiency 
C) investment;cost 
D) cost;investment 
E) positioning;scale 
A) efficiency;effectiveness 
B) effectiveness;efficiency 
C) investment;cost 
D) cost;investment 
E) positioning;scale

Question 14

Age,gender,place of residence,and income are all examples of ________.

Accepted Answer

A) segmentation variables 
B) positioning strategies 
C) market fragment strategies 
D) psychographics 
E) targeting strategies 
A) segmentation variables 
B) positioning strategies 
C) market fragment strategies 
D) psychographics 
E) targeting strategies

Question 15

Explain why correctly segmenting and then targeting consumers will help a company target its marketing dollars more effectively.

Accepted Answer

Instead of using mass advertis

Question 16

Why might a marketer of laundry detergent be interested in viewing a perceptual map?

Accepted Answer

Perceptual maps show consumer perception

Question 17

A large chain amusement park sells tickets at its main gate for guests who are visiting the park for just that one day.The park also sells seasonal passes that can only be used on weekdays.What market segmentation is being implemented by the amusement park?

Accepted Answer

The amusement park is using be

Question 18

Which of the following is the most accurate generalization of Millennials?

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 have more leisure time than members of other generations do. 
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 have more leisure time than members of other generations do. 
E) Members of this generation are more difficult to reach through television advertising than members of older generations are.

Question 19

Which of the following would be the best source for information about the size and number of companies operating in a particular industry in the United States?

Accepted Answer

A) PRIZM 
B) AIO 
C) VALS™ 
D) NAICS 
E) ISP 
A) PRIZM 
B) AIO 
C) VALS™ 
D) NAICS 
E) ISP

Question 20

A mass marketing approach involves more advertising costs than a target marketing approach does.

Accepted Answer

A) True 
 B)False

________ variables segment markets in terms of shared activities,interests,and opinions.

Which of the following most accurately describes PRIZM?

Perceptual maps are tools for identifying the positions of brands in consumers' minds.

________ is a term for men who are keenly interested in fashion,home design,gourmet cooking,and personal care.

________ is a well-known system based on psychological traits that correlate with consumer behavior.It divides the entire U.S.population into segments and then sells pieces of this information to clients for specific strategic applications.

Holiday Inn has divided the total customer market into smaller segments and selected the most promising segments.Deciding what position it wants to occupy in these segments is called targeting.

The elements of the marketing mix must match the ________.

Of the following generations,which has the youngest members?

The majority of Generation Y consumers are unmarried.

A perceptual map is used to ________.

Companies can customize online advertising by ________ so that people who log on in different places will see ad banners for local businesses.

Differentiated marketing can involve connecting the same product with different market segments by communicating differently to each segment.

Marketers must balance the of mass marketing with the of offering each individual customer exactly what he wants.

Age,gender,place of residence,and income are all examples of ________.

Explain why correctly segmenting and then targeting consumers will help a company target its marketing dollars more effectively.

Why might a marketer of laundry detergent be interested in viewing a perceptual map?

A large chain amusement park sells tickets at its main gate for guests who are visiting the park for just that one day.The park also sells seasonal passes that can only be used on weekdays.What market segmentation is being implemented by the amusement park?

Which of the following is the most accurate generalization of Millennials?

Which of the following would be the best source for information about the size and number of companies operating in a particular industry in the United States?

A mass marketing approach involves more advertising costs than a target marketing approach does.

Welcome to the World of Marketing

Global, ethical, and Sustainable Marketing

Strategic Market Planning

Market Research

Marketing Analytics: Welcome to the Era of Big Data

Understand Consumer and Business Markets

Innovation and New Product Development

Product II: Product Strategy,branding,and Product Management

Price: What Is the Value Proposition Worth

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

Delivering the Customer Experience: Bricks and Clicks

Promotion I: Advertising and Sales Promotion

Promotion II: Social Media, directdatabase Marketing, personal Selling, and Public Relations

Filters

Exam 7: Segmentation,target Marketing,and Positioning

________ variables segment markets in terms of shared activities,interests,and opinions.

Which of the following most accurately describes PRIZM?

Perceptual maps are tools for identifying the positions of brands in consumers' minds.

________ is a term for men who are keenly interested in fashion,home design,gourmet cooking,and personal care.

________ is a well-known system based on psychological traits that correlate with consumer behavior.It divides the entire U.S.population into segments and then sells pieces of this information to clients for specific strategic applications.

Holiday Inn has divided the total customer market into smaller segments and selected the most promising segments.Deciding what position it wants to occupy in these segments is called targeting.

The elements of the marketing mix must match the ________.

Of the following generations,which has the youngest members?

The majority of Generation Y consumers are unmarried.

A perceptual map is used to ________.

Companies can customize online advertising by ________ so that people who log on in different places will see ad banners for local businesses.

Differentiated marketing can involve connecting the same product with different market segments by communicating differently to each segment.

Marketers must balance the ________ of mass marketing with the ________ of offering each individual customer exactly what he wants.

Age,gender,place of residence,and income are all examples of ________.

Explain why correctly segmenting and then targeting consumers will help a company target its marketing dollars more effectively.

Why might a marketer of laundry detergent be interested in viewing a perceptual map?

A large chain amusement park sells tickets at its main gate for guests who are visiting the park for just that one day.The park also sells seasonal passes that can only be used on weekdays.What market segmentation is being implemented by the amusement park?

Which of the following is the most accurate generalization of Millennials?

Which of the following would be the best source for information about the size and number of companies operating in a particular industry in the United States?

A mass marketing approach involves more advertising costs than a target marketing approach does.

Welcome to the World of Marketing

Global, ethical, and Sustainable Marketing

Strategic Market Planning

Market Research

Marketing Analytics: Welcome to the Era of Big Data

Understand Consumer and Business Markets

Innovation and New Product Development

Product II: Product Strategy,branding,and Product Management

Price: What Is the Value Proposition Worth

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

Delivering the Customer Experience: Bricks and Clicks

Promotion I: Advertising and Sales Promotion

Promotion II: Social Media, directdatabase Marketing, personal Selling, and Public Relations

Filters

Marketers must balance the of mass marketing with the of offering each individual customer exactly what he wants.