Exam 5: Customers,segmentation,and Target Marketing

Although a market segment can meet all criteria for viability,a firm may choose to not pursue the segment.Which of the following is a reason why this might occur?

Only the largest firms can execute __________,which involves the development of multiple marketing programs to serve all customer segments simultaneously.

What type of segmentation divides consumer markets into segments using individual factors such as gender,age,income,and education?

The consumer buying process begins when:

Firms engage in __________ when their intimate knowledge and expertise in one market allows them to offer customized marketing programs that not only deliver needed products but also provide needed solutions to customers' problems.

What is the key to using behavioral segmentation successfully in consumer markets?

__________ is/are the primary reason why the consumer buying process varies across customers,products,and situations.

From the viewpoint of the consumer buying process,what is the difference between a need and a want?

Which of the following IS NOT a typical basis used to segment business markets?

Advances in supply chain management now allow companies to customize products to meet the needs of individual customers on a mass scale.This individualized approach to market segmentation is called:

After enrolling in the MBA program at Minor State University,Sheri began having second thoughts.Although MSU seemed to be a good choice based on location,reputation,and price,Sheri was not convinced she had made the right choice.Sheri is suffering from:

The basic assumption of __________ is that all customers in the market have similar needs and wants that can be reasonably satisfied with a single marketing program.

The main advantage of __________ is specialization,as it allows the firm to focus its resources toward understanding and serving a single segment.

Describe how the business buying process differs from the consumer buying process.Include an explanation of the unique characteristics of business markets.

Explain the five different target marketing strategies and give examples of firms that use each one.Also,discuss how firms might approach the targeting of noncustomers.

One of the most successful and well-known tools of __________ segmentation is VALS^™ developed by Strategic Business Insights.

Firms that sell luxury products,custom-made products,and services often take the time to significantly modify their products in an effort to precisely match the needs of individual customers.These firms are pursuing what type of approach to market segmentation?

Which of the following IS NOT an example of mass customization?

If a researcher were to ask consumers to quickly name the top 3 brands of computers they might consider purchasing,the most common brands in the __________ would most likely be Dell,Apple,and HP.

__________ segmentation is the most powerful form of segmentation in consumer markets because it uses actual product usage to make distinctions among market segments.