Exam 5: Customers, Segmentation, and Target Marketing

Little ​Gym focuses on highly customized workout experiences for children between the ages of 4 months and 12 years. This is an example of niche marketing.

Nielsen's PRIZM segmentation system is a useful ___________ tool.

Firms focused on a single market segment use which of the following approaches? ​

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

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

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

When the product's performance falls short of the customer's expectations, the customer experiences cognitive dissonance.​

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.

A market segment meets all criteria for viability. However, what else is necessary for a firm to successfully pursue that segment?

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.

When your sister expresses her desire for a car, you know that her real need is transportation.

Which of the following is ​a type of individualized segmentation?

The consumer buying process begins when:

Identify and explain the five stages of the consumer buying process. Give examples of marketing activities designed to influence each stage.

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

What is a big difference between the marketing of today versus marketing products 50 years ago?

What must a firm have to use selective targeting successfully? ​

Although the stages of the consumer buying process are typically discussed in a linear fashion, consumers do not always follow the stages in sequence. Explain why this often occurs.

Each of the following statements describes a unique characteristic of the business buying process EXCEPT:

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?