Question 1

The marketer ________ the segments; the marketer's task is to identify the segments and decide which one(s)to target.

Accepted Answer

A)  plans 
B)  creates 
C)  does not create 
D)  rarely controls 
E)  controls 
A)  plans 
B)  creates 
C)  does not create 
D)  rarely controls 
E)  controls

Question 2

In ________ marketing,the seller engages in the mass production,mass distribution,and mass promotion of one product for all buyers.

Accepted Answer

A)  group 
B)  mass 
C)  general 
D)  segmented 
E)  differentiated 
A)  group 
B)  mass 
C)  general 
D)  segmented 
E)  differentiated

Question 3

To be useful,market segments must rate favorably on five key criteria.What are those criteria

Accepted Answer

The five criteria are: (1)meas

Question 4

The chief disadvantage to a firm that decides to follow a product specialization strategy in selecting target markets is that ________.

Accepted Answer

A)  no synergy exists 
B)  logistics can become a nightmare 
C)  the product may be supplanted by an entirely new technology 
D)  competitors can easily copy any new product introductions 
E)  e-commerce becomes difficult for the company 
A)  no synergy exists 
B)  logistics can become a nightmare 
C)  the product may be supplanted by an entirely new technology 
D)  competitors can easily copy any new product introductions 
E)  e-commerce becomes difficult for the company

Question 5

________ are products such as Kiehl's skin care and Kendall-Jackson wines that are priced between average middle-market and superpremium Old Luxury brands.

Accepted Answer

A)  Old Luxury brand extensions 
B)  Accessible superpremium products 
C)  Deluxury items 
D)  Hourglass products 
E)  Masstige goods 
A)  Old Luxury brand extensions 
B)  Accessible superpremium products 
C)  Deluxury items 
D)  Hourglass products 
E)  Masstige goods

Question 6

The key to attracting potential users,or even possibly nonusers,is ________.

Accepted Answer

A)  understanding the reasons they are not using 
B)  offering financial incentives for first-time use 
C)  increasing the usage rate of existing users 
D)  developing a new product that better meets their needs 
E)  increasing advertising expenditures 
A)  understanding the reasons they are not using 
B)  offering financial incentives for first-time use 
C)  increasing the usage rate of existing users 
D)  developing a new product that better meets their needs 
E)  increasing advertising expenditures

Question 7

To meet the ________ criterion of useful market segments,it must be possible to formulate effective programs for attracting and serving the segments.

Accepted Answer

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

Question 8

People in the same demographic group generally exhibit similar psychographic profiles.

Accepted Answer

A) True 
 B)False

Question 9

A snack chip manufacturer is concerned about consumers leaving its brand and going to competitive alternatives.Which of the following groups (based on strength of commitment)would be most likely to leave the company's offering and go somewhere else for snack products

Accepted Answer

A)  Convertible 
B)  Shallow 
C)  Average 
D)  Entrenched 
E)  Hard rocks 
A)  Convertible 
B)  Shallow 
C)  Average 
D)  Entrenched 
E)  Hard rocks

Question 10

Volkswagen concentrates on the small-car market and Porsche on the sports car market.These would be examples of what is called ________.

Accepted Answer

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

Question 11

PRIZM was developed by Claritas Inc.Explain what PRIZM is intended to do.

Accepted Answer

PRIZM stands for Potential Rating Index

Question 12

An attractive niche is characterized as having a distinct set of needs.

Accepted Answer

A) True 
 B)False

Question 13

Each person involved in a buying decision plays only one of five roles: Initiator,Influencer,Decider,Buyer,or User.

Accepted Answer

A) True 
 B)False

Question 14

There are several major segmentation variables that might be used by a marketer to address a consumer market.If the marketer were to use social class,psychographic lifestyle,and readiness stage to segment its market,identify possible segmentation subcategories under each of the three.

Accepted Answer

First,social class would yield the subca

Question 15

If a marketer is seeking to segment a business market,which of the following variables is generally felt to be the most important

Accepted Answer

A)  Personal characteristics 
B)  Demographic variables 
C)  Situational factors 
D)  Operating variables 
E)  Purchasing approaches 
A)  Personal characteristics 
B)  Demographic variables 
C)  Situational factors 
D)  Operating variables 
E)  Purchasing approaches

Question 16

According to the VALS segmentation system,the Strivers are at bottom of the typology with the lowest resources and lowest with respect to innovation.

Accepted Answer

A) True 
 B)False

Question 17

A flexible market offering consists of two parts.Identify and describe these two parts.

Accepted Answer

A flexible market offering consists of t

Question 18

With respect to loyalty status,if a consumer is loyal to two or three brands,he or she is called shifting loyal.

Accepted Answer

A) True 
 B)False

Question 19

Hilton Hotels customizes rooms and lobbies according to location.Northeastern hotels are sleeker and more cosmopolitan.Southwestern hotels are more rustic.This is an example of ________ segmentation.

Accepted Answer

A)  demographic 
B)  behavioral 
C)  psychographic 
D)  geographic 
E)  user status 
A)  demographic 
B)  behavioral 
C)  psychographic 
D)  geographic 
E)  user status

Question 20

The ultimate level of segmentation leads to "segments of one," "customized marketing," or "one-to-one marketing."

Accepted Answer

A) True 
 B)False

Exam 8: Identifying Market Segments and Targets

The marketer ________ the segments; the marketer's task is to identify the segments and decide which one(s)to target.

In ________ marketing,the seller engages in the mass production,mass distribution,and mass promotion of one product for all buyers.

To be useful,market segments must rate favorably on five key criteria.What are those criteria

The chief disadvantage to a firm that decides to follow a product specialization strategy in selecting target markets is that ________.

________ are products such as Kiehl's skin care and Kendall-Jackson wines that are priced between average middle-market and superpremium Old Luxury brands.

The key to attracting potential users,or even possibly nonusers,is ________.

To meet the ________ criterion of useful market segments,it must be possible to formulate effective programs for attracting and serving the segments.

People in the same demographic group generally exhibit similar psychographic profiles.

A snack chip manufacturer is concerned about consumers leaving its brand and going to competitive alternatives.Which of the following groups (based on strength of commitment)would be most likely to leave the company's offering and go somewhere else for snack products

Volkswagen concentrates on the small-car market and Porsche on the sports car market.These would be examples of what is called ________.

PRIZM was developed by Claritas Inc.Explain what PRIZM is intended to do.

An attractive niche is characterized as having a distinct set of needs.

Each person involved in a buying decision plays only one of five roles: Initiator,Influencer,Decider,Buyer,or User.

There are several major segmentation variables that might be used by a marketer to address a consumer market.If the marketer were to use social class,psychographic lifestyle,and readiness stage to segment its market,identify possible segmentation subcategories under each of the three.

If a marketer is seeking to segment a business market,which of the following variables is generally felt to be the most important

According to the VALS segmentation system,the Strivers are at bottom of the typology with the lowest resources and lowest with respect to innovation.

A flexible market offering consists of two parts.Identify and describe these two parts.

With respect to loyalty status,if a consumer is loyal to two or three brands,he or she is called shifting loyal.

Hilton Hotels customizes rooms and lobbies according to location.Northeastern hotels are sleeker and more cosmopolitan.Southwestern hotels are more rustic.This is an example of ________ segmentation.

The ultimate level of segmentation leads to "segments of one," "customized marketing," or "one-to-one marketing."

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Creating Customer Value, Satisfaction, and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Creating Brand Equity

Crafting the Brand Positioning

Dealing with Competition

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Introducing New Market Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization

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