Question 1

How do marketers use geographic factors? Give examples.

Accepted Answer

Given societal differences, international tourist destinations can wreak havoc with logistics.For example, while Brits and Germans tend to be orderly in queuing, customers from many other countries and cultures are more unruly.There can be cultural differences within a country-a spicy salsa in the U.S.Southwest is very hot, whereas it is formulated to be milder for wimpier customer palates in the Northeast.Urban living affords certain elements of entertainment, and smaller town living is different.Climate offers still another consideration; snow-blowers tend to sell better in the North than in the South, whereas the reverse is true for chlorine.

Question 2

In marketing, we deal with customer differences through segmentation.

Accepted Answer

A) True 
 B)False  True

Question 3

Since most marketplaces are international, country and cultural differences can be tremendous.

Accepted Answer

A) True 
 B)False  True

Question 4

Marketers segmenting their business clients most frequently use "size." Explain what this means and what the limitations are.

Accepted Answer

Size can mean several things: company sa

Question 5

The ideal goal for the marketer is to find an untapped (or at least relatively underserved) group of customers whose needs can easily and profitably be met.

Accepted Answer

A) True 
 B)False

Question 6

Coupons that are printed at grocery checkouts are a function of items the customer just purchased.

Accepted Answer

A) True 
 B)False

Question 7

On a continuum from mass marketing to one-to-one marketing, market segmentation is in the middle.

Accepted Answer

A) True 
 B)False

Question 8

A popular tool for segmenting that uses psychographic data, and that is based on the belief that one's attitudes and value system determine one's orientation to certain products and/or brands is called

Accepted Answer

A)  Experian. 
B)  VALS. 
C)  Mals. 
D)  Prizm. 
A)  Experian. 
B)  VALS. 
C)  Mals. 
D)  Prizm.

Question 9

Age is an easily identifiable demographic variable.

Accepted Answer

A) True 
 B)False

Question 10

Businesses treat all clients the same way-whether large or small.

Accepted Answer

A) True 
 B)False

Question 11

Some customers are currently using a competitor's brand or don't purchase a certain type of product.It is __________ for marketers to identify, obtain information on, and woo these people.

Accepted Answer

A)  easy 
B)  moderately difficult 
C)  challenging 
D)  impossible 
A)  easy 
B)  moderately difficult 
C)  challenging 
D)  impossible

Question 12

Collectively, a marketplace of consumers is homogeneous.

Accepted Answer

A) True 
 B)False

Question 13

Gender, age and income are all qualities of what segmentation base?

Accepted Answer

A)  geographic 
B)  psychological 
C)  education 
D)  demographic 
A)  geographic 
B)  psychological 
C)  education 
D)  demographic

Question 14

It's not unusual to see a segmentation study comprised of some usage variable (e.g., heavy vs.light users) or some attitudinal variable (e.g., positively inclined toward our brand vs.loyal to a competitor).What type of variable is it usually cross-tabbed with?

Accepted Answer

A)  demographic 
B)  geographic 
C)  psychological 
D)  physical 
A)  demographic 
B)  geographic 
C)  psychological 
D)  physical

Question 15

There is a rule of thumb that says it costs _____ times more to acquire a new customer compared to maintaining a loyal one.

Accepted Answer

A)  3 
B)  6 
C)  9 
D)  12 
A)  3 
B)  6 
C)  9 
D)  12

Question 16

Which of the following is a geographic factor?

Accepted Answer

A)  price 
B)  income 
C)  market size 
D)  media 
A)  price 
B)  income 
C)  market size 
D)  media

Question 17

The goal of homogeneity in customers' likes or dislikes is more achievable as the segment size gets smaller, but if the segment is too small, it might not be profitable to serve.

Accepted Answer

A) True 
 B)False

Question 18

Entrepreneurs may need to approximate Prizm and VALS data, because they are

Accepted Answer

A)  not available to the public. 
B)  difficult to understand. 
C)  expensive. 
D)  not interesting to consumers. 
A)  not available to the public. 
B)  difficult to understand. 
C)  expensive. 
D)  not interesting to consumers.

Question 19

Marketers identify segments best when iterating between two approaches.What are the two approaches?

Accepted Answer

A)  customer, market 
B)  managerial, customer 
C)  managerial, company 
D)  market, company 
A)  customer, market 
B)  managerial, customer 
C)  managerial, company 
D)  market, company

Question 20

Sometimes segments appear small only because the clustering was done too finely.

Accepted Answer

A) True 
 B)False

How do marketers use geographic factors? Give examples.

In marketing, we deal with customer differences through segmentation.

Since most marketplaces are international, country and cultural differences can be tremendous.

Marketers segmenting their business clients most frequently use "size." Explain what this means and what the limitations are.

The ideal goal for the marketer is to find an untapped (or at least relatively underserved) group of customers whose needs can easily and profitably be met.

Coupons that are printed at grocery checkouts are a function of items the customer just purchased.

On a continuum from mass marketing to one-to-one marketing, market segmentation is in the middle.

A popular tool for segmenting that uses psychographic data, and that is based on the belief that one's attitudes and value system determine one's orientation to certain products and/or brands is called

Age is an easily identifiable demographic variable.

Businesses treat all clients the same way-whether large or small.

Some customers are currently using a competitor's brand or don't purchase a certain type of product.It is __________ for marketers to identify, obtain information on, and woo these people.

Collectively, a marketplace of consumers is homogeneous.

Gender, age and income are all qualities of what segmentation base?

It's not unusual to see a segmentation study comprised of some usage variable (e.g., heavy vs.light users) or some attitudinal variable (e.g., positively inclined toward our brand vs.loyal to a competitor).What type of variable is it usually cross-tabbed with?

There is a rule of thumb that says it costs _____ times more to acquire a new customer compared to maintaining a loyal one.

Which of the following is a geographic factor?

The goal of homogeneity in customers' likes or dislikes is more achievable as the segment size gets smaller, but if the segment is too small, it might not be profitable to serve.

Entrepreneurs may need to approximate Prizm and VALS data, because they are

Marketers identify segments best when iterating between two approaches.What are the two approaches?

Sometimes segments appear small only because the clustering was done too finely.

Why Is Marketing Management Important

Customer Behavior

Targeting

Positioning

Products Goods and Services

Brands

New Products and Innovation

Pricing

Channels of Distribution

Advertising Messages and Marketing Communications

Integrated Marketing Communications and Media Choices

Social Media

Customer Satisfaction and Customer Relationships

Marketing Research Tools

Marketing Strategy

Marketing Plans

Filters

Exam 3: Segmentation

How do marketers use geographic factors? Give examples.

In marketing, we deal with customer differences through segmentation.

Since most marketplaces are international, country and cultural differences can be tremendous.

Marketers segmenting their business clients most frequently use "size." Explain what this means and what the limitations are.

The ideal goal for the marketer is to find an untapped (or at least relatively underserved) group of customers whose needs can easily and profitably be met.

Coupons that are printed at grocery checkouts are a function of items the customer just purchased.

On a continuum from mass marketing to one-to-one marketing, market segmentation is in the middle.

A popular tool for segmenting that uses psychographic data, and that is based on the belief that one's attitudes and value system determine one's orientation to certain products and/or brands is called

Age is an easily identifiable demographic variable.

Businesses treat all clients the same way-whether large or small.

Some customers are currently using a competitor's brand or don't purchase a certain type of product.It is __________ for marketers to identify, obtain information on, and woo these people.

Collectively, a marketplace of consumers is homogeneous.

Gender, age and income are all qualities of what segmentation base?

It's not unusual to see a segmentation study comprised of some usage variable (e.g., heavy vs.light users) or some attitudinal variable (e.g., positively inclined toward our brand vs.loyal to a competitor).What type of variable is it usually cross-tabbed with?

There is a rule of thumb that says it costs _____ times more to acquire a new customer compared to maintaining a loyal one.

Which of the following is a geographic factor?

The goal of homogeneity in customers' likes or dislikes is more achievable as the segment size gets smaller, but if the segment is too small, it might not be profitable to serve.

Entrepreneurs may need to approximate Prizm and VALS data, because they are

Marketers identify segments best when iterating between two approaches.What are the two approaches?

Sometimes segments appear small only because the clustering was done too finely.

Why Is Marketing Management Important

Customer Behavior

Targeting

Positioning

Products Goods and Services

Brands

New Products and Innovation

Pricing

Channels of Distribution

Advertising Messages and Marketing Communications

Integrated Marketing Communications and Media Choices

Social Media

Customer Satisfaction and Customer Relationships

Marketing Research Tools

Marketing Strategy

Marketing Plans

Filters