Exam 5: Market Segmentation and Segmentation Strategies

Both consumers and businesses have market needs,and the factors influencing their needs are essentially the same.

The first level of customer relationship marketing is a ________ strategy that recognizes individual customers by name and buying behavior.

Vermont Home Builders conducted a study of the customers in the housing sector,which revealed that there are seven kinds of buyers,each a little different and each differently profitable.Vermont Home Builders decided to focus their attention on the three most profitable segments.In this example,Vermont Home Builders uses which of the following market segmentation strategies?

Which of the following forces that shape segment attractiveness include market size,growth rate,and growth potential?

A(n)________ strategy presents a generic value proposition built around the core customer need and the business's generic positioning strategy.

The purpose of needs-based segmentation is to offer product benefits that satisfy the needs of target customers.

Which of the following customer relationship marketing strategies allows customers to become their own individual market segments?

A(n)________ includes all the key elements of the situation and the benefits the target customer is looking for in a given purchase.

Which of the following is a lifestyle influence that shapes customer needs?

Dynamo Inc. ,a motor company,started by selling sturdy,affordable,low-maintenance motorcycles in the U.S.Initially the firm pursued a single-segment focus,and targeted the middle-income group.When the company reached the point of full market penetration of the middle-income group,it marketed to a closely related attractive segment by introducing a line of luxury motorcycles for the high-income group of consumers.Which of the following type of market segmentation strategy does Dynamo Inc.use when it targets the high-income group of consumers?

Number of employees,sales volume,number of locations,years in business,and financial situation are all examples of ________ forces shaping business market needs.

A key benefit of market segmentation is identifying segments that should not be pursued.

A business could elect to pursue a large-segment strategy when ________.

McEwan and Co. ,a commercial real estate brokerage firm,creates four storyboards,each of which delineates a different value proposition and segment positioning strategy.The firm recruits a group of executives from different industries,and assigns them to one of the four segments.The executives are asked to critique each segment's storyboard and select the one that most appeals to them.The firm aims to assess its understanding of segment needs and its ability to translate that understanding into a value proposition.In this example,which of the following methods is McEwan and Co.using?

In order to implement a mass-personalization strategy,a business's database marketing system must be able to track individual customers and their buying history.

Which of the following market segments is most likely to be considered attractive by a firm?

When a market is segmented and marketing resources are limited,a business could elect to pursue a large-segment strategy.

MyStyle Clothes Inc.is a women's fashion apparel firm that allows its customers to personalize their clothes.MyStyle Clothes Inc.has a web site where customers can choose from a range of fabrics,colors,buttons,fits,and designs to create clothes.Customers can place orders with their measurements,and the clothes are manufactured according to the customer's specifications and sent to her by courier.In this example,MyStyle Clothes Inc.uses which of the following strategies?

________ are tools that marketing managers use to assess the merits of a proposed marketing communication and the strategy behind it.

Common to most assessments of segment attractiveness are measurements of market demand,competitive intensity,and market access.