Question 1

Generation Y represents those born in the late 1970s through the mid-1990s. What should marketers know about this particular age cohort?

Accepted Answer

They've been wired almost from birth.They have a sense of entitlement and abundance from growing up during the economic boom and being pampered by their boomer parents.Yet they are highly socially conscious and concerned abut environment issues.They are selective,confident,and impatient.Its members are often turned off by overt branding practices and a hard sell.It will take different approaches for marketers to reach and persuade them.

Question 2

What are some newly emerged media choices that make gender targeting easier for marketers?

Accepted Answer

Marketers can reach women more easily on Bravo,the Food Network,and HGTV television channels and through scores of women's magazines.Yahoo! Canada has launched a new lifestyle website aimed at women aged 24 to 54 and full of Canadian content organized into five categories that appeal to women.Men are more likely to be reached via Rogers Sportsnet,The Score,and Spike TV channels and through magazines such as Maxim and Men's Health.

Question 3

Two broad groups of variables are used to segment consumer markets. One method uses descriptive characteristics such as geography. The other method is to form segments by looking at ________ considerations.

Accepted Answer

A)  income 
B)  cultural 
C)  behavioural 
D)  gender 
E)  interest 
A)  income 
B)  cultural 
C)  behavioural 
D)  gender 
E)  interest C

Question 4

To be useful, market segments must have as one of their characteristics the ability to be measured.

Accepted Answer

A) True 
 B)False

Question 5

A marketer is interested in segmenting a business market based on technology and customer capabilities. Which of the following major segmentation variables would most likely be used by the marketer to assist with the task?

Accepted Answer

A)  purchasing approaches 
B)  personal characteristics 
C)  situational factors 
D)  demographic 
E)  operating variables 
A)  purchasing approaches 
B)  personal characteristics 
C)  situational factors 
D)  demographic 
E)  operating variables

Question 6

Increasingly, companies are finding that their markets are ________ as middle-market consumers migrate toward both discount and premium products.

Accepted Answer

A)  "hourglass-shaped" 
B)  "circular" 
C)  "triangle-shaped" 
D)  "inverted" 
E)  "linear" 
A)  "hourglass-shaped" 
B)  "circular" 
C)  "triangle-shaped" 
D)  "inverted" 
E)  "linear"

Question 7

When discussing the "long-tail thesis", Chris Anderson of Wired magazine says that if you aggregate enough minority taste, you'll often

Accepted Answer

A)  have to predict demand. 
B)  find a big new market. 
C)  be unable to tap into latent demand. 
D)  resort to traditional retail. 
E)  raise the cost of distribution. 
A)  have to predict demand. 
B)  find a big new market. 
C)  be unable to tap into latent demand. 
D)  resort to traditional retail. 
E)  raise the cost of distribution.

Question 8

To be useful, market segments must rate favourably on five key criteria. In the ________ criterion, effective programs can be formulated for attracting and serving the segments.

Accepted Answer

A)  actionable 
B)  accessible 
C)  measurable 
D)  differentiable 
E)  substantial 
A)  actionable 
B)  accessible 
C)  measurable 
D)  differentiable 
E)  substantial

Question 9

With respect to market offerings, if a marketer emphasizes a naked solution, he or she is emphasizing the product and service elements that all segment members value.

Accepted Answer

A) True 
 B)False

Question 10

As a brand manager you have decided to use the full market coverage approach in marketing to your customers. Within the full market coverage approach, you have selected a(n) ________ strategy whereby your firm will operate in several market segments and design different products for each segment.

Accepted Answer

A)  concentrated 
B)  differentiated 
C)  undifferentiated 
D)  introverted 
E)  parallel 
A)  concentrated 
B)  differentiated 
C)  undifferentiated 
D)  introverted 
E)  parallel

Question 11

According to the VALS 8-part typology segmentation system, ________ are successful, sophisticated, active, "take-charge" people with high self-esteem. Their purchases often reflect cultivated tastes for relatively upscale, niche-oriented products and services.

Accepted Answer

A)  thinkers 
B)  achievers 
C)  innovators 
D)  believers 
E)  experiencers 
A)  thinkers 
B)  achievers 
C)  innovators 
D)  believers 
E)  experiencers

Question 12

A retailer can resort to customer cloning if it is assumed that the best prospects live where most of his customers come from.

Accepted Answer

A) True 
 B)False

Question 13

Marketers would rather attract one heavy user than several light users.

Accepted Answer

A) True 
 B)False

Question 14

How would a marketer, such as Canon, go about segmenting by purchase criteria?

Accepted Answer

Within a given target industry and custo

Question 15

The low-budget, insurance-replacement market represents a(n) ________ market for Enterprise Car Rental.

Accepted Answer

A)  benefit 
B)  virtual 
C)  niche 
D)  experiential 
E)  viral 
A)  benefit 
B)  virtual 
C)  niche 
D)  experiential 
E)  viral

Question 16

Undifferentiated marketing goes after the whole market with one offer, so it typically creates more total sales than differentiated marketing.

Accepted Answer

A) True 
 B)False

Question 17

With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.

Accepted Answer

A)  selective specialization 
B)  full market coverage 
C)  market specialization 
D)  product specialization 
E)  single-segment concentration 
A)  selective specialization 
B)  full market coverage 
C)  market specialization 
D)  product specialization 
E)  single-segment concentration

Question 18

A marketing manager has decided to take a "purchasing approach" to segmenting a proposed business market. Which of the following would be a potential means sub-segments for segmenting under this approach?

Accepted Answer

A)  attitudes toward risk 
B)  purchasing-function organization 
C)  customer capabilities 
D)  size of order 
E)  specific application 
A)  attitudes toward risk 
B)  purchasing-function organization 
C)  customer capabilities 
D)  size of order 
E)  specific application

Question 19

To be useful, market segments must rate favourably on five key criteria. List and explain those criteria.

Accepted Answer

The five criteria are:(1)measu

Question 20

Walmart is likely more interested in appealing to the four groups belonging to the category that displays lower resources in the VALS Segmentation System. What are these four groups and which tendencies in each group are consistent with Walmart's current marketing strategy?

Accepted Answer

The four groups are:(1)believe

Exam 8: Identifying Market Segments and Targets

Generation Y represents those born in the late 1970s through the mid-1990s. What should marketers know about this particular age cohort?

What are some newly emerged media choices that make gender targeting easier for marketers?

Two broad groups of variables are used to segment consumer markets. One method uses descriptive characteristics such as geography. The other method is to form segments by looking at ________ considerations.

To be useful, market segments must have as one of their characteristics the ability to be measured.

A marketer is interested in segmenting a business market based on technology and customer capabilities. Which of the following major segmentation variables would most likely be used by the marketer to assist with the task?

Increasingly, companies are finding that their markets are ________ as middle-market consumers migrate toward both discount and premium products.

When discussing the "long-tail thesis", Chris Anderson of Wired magazine says that if you aggregate enough minority taste, you'll often

To be useful, market segments must rate favourably on five key criteria. In the ________ criterion, effective programs can be formulated for attracting and serving the segments.

With respect to market offerings, if a marketer emphasizes a naked solution, he or she is emphasizing the product and service elements that all segment members value.

As a brand manager you have decided to use the full market coverage approach in marketing to your customers. Within the full market coverage approach, you have selected a(n) ________ strategy whereby your firm will operate in several market segments and design different products for each segment.

According to the VALS 8-part typology segmentation system, ________ are successful, sophisticated, active, "take-charge" people with high self-esteem. Their purchases often reflect cultivated tastes for relatively upscale, niche-oriented products and services.

A retailer can resort to customer cloning if it is assumed that the best prospects live where most of his customers come from.

Marketers would rather attract one heavy user than several light users.

How would a marketer, such as Canon, go about segmenting by purchase criteria?

The low-budget, insurance-replacement market represents a(n) ________ market for Enterprise Car Rental.

Undifferentiated marketing goes after the whole market with one offer, so it typically creates more total sales than differentiated marketing.

With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.

A marketing manager has decided to take a "purchasing approach" to segmenting a proposed business market. Which of the following would be a potential means sub-segments for segmenting under this approach?

To be useful, market segments must rate favourably on five key criteria. List and explain those criteria.

Walmart is likely more interested in appealing to the four groups belonging to the category that displays lower resources in the VALS Segmentation System. What are these four groups and which tendencies in each group are consistent with Walmart's current marketing strategy?

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Creating Brand Equity

Crafting the Brand Position

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Marketing Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization

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