Exam 8: Segmenting and Targeting Markets

Tennot Inc. sells used cars. It focuses solely on low-income customers who prefer to buy an old car rather than a new one. Therefore, it develops one marketing mix that targets the low-income group. In this scenario, Tennot Inc. most likely uses a(n)_____.

Dynamic segmentation approaches adjust to fit the changes that occur in customers' lives.

Trower Inc. has launched a new smartphone in two different variants. Both variants of the smartphone have a similar design but have different hardware specifications. The company uses this strategy so that the smartphone can be afforded by most people. In this scenario, Trower Inc. most likely uses _____.

What is geographic segmentation? Briefly explain why consumer goods companies take a geographic approach to marketing.

Laelle is a confectionery company that manufactures candies. It does not use specific strategies to target children while marketing its products. Instead, it uses the same strategies to promote its candies among all consumers in the market. In this scenario, Laelle uses a(n) _____.

Single-variable segmentation has the advantage of being more precise than multiple-variable segmentation.

In the context of family life cycle segmentation, which of the following statements is true?

Which of the following statements is true of markets?

To be useful, a segmentation scheme must produce segments that:

A market is people or organizations with needs or wants and with the ability and the willingness to buy.

Starlight Jewelry sends Lauren a birthday card along with a pendant as a token of appreciation for shopping frequently at its store. The trend portrayed in this customer relationship management technique is _____.

In the context of the strategies for selecting target markets, which of the following is a disadvantage of an undifferentiated targeting strategy?

Discuss the importance of market segmentation.

_____ is a positioning base that focuses on a personality or type of consumer.

In the context of customer relationship management (CRM), _____ offers marketers a more cost-effective way to reach customers and enables businesses to personalize their messages.

With the personal and targeted nature of customer relationship management (CRM), consumers spend more time making purchase decisions.

Which of the following is an advantage of a multisegment targeting strategy?

The editorial board of Gamers' Page, a magazine that primarily caters to people who are enthusiastic about sports and gaming, targets people who enjoy games. In this scenario, Gamers' Page uses _____.

Prisly Inc. is a multinational company that specializes in manufacturing and selling high-end cars. It launches a new car Gwen 2.0 that becomes highly successful in the market because of its cheap price and excellent specifications. However, this leads to a significant decline in the sales of Sanders Inc.'s other cars. This scenario exemplifies _____.

Kirksand Airlines is well known for providing excellent customer service to its flyers. The staff members enquire and listen carefully to each flyer's wants and needs. If a flyer has any specific requests, the staff members ensure that they are immediately attended to. In this scenario, Kirksand Airlines has based its customer relationship management on the trend of _____.