Exam 5: Customers, Segmentation, and Target Marketing

A common tool ​used in permission marketing is the opt-in email approach.

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 concept of reciprocity is a significant factor in the consumer buying decision process.​

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.

The evoked set is a key part of the purchase stage of the consumer buying decision process.

Identify and discuss the various traditional market segmentation strategies. Include in your answer a discussion of the relative advantages and disadvantages of each strategy.

Institutional markets buy raw materials for use in producing finished goods.

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?

Ethnography is a qualitative research technique designed to understand cultural phenomena such as communication, shared meanings, and personal interests.

With respect to the consumer buying process, __________ is perhaps the most important factor that affects the time, effort, and expense dedicated to the search for information.

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

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

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:

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

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

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

The two key issues for marketers during the purchase stage are product availability and form utility.

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

Consumers are more likely to be impacted by social influences than are businesses.