Question 1

To determine customer equity,firms ________.

Accepted Answer

A) analyse the investments they make in acquiring customers 
B) compare relationship enhancements with the financial returns on those investments 
C) analyse the investments they make to retain customers 
D) A and B 
E) A,B,and C 
A) analyse the investments they make in acquiring customers 
B) compare relationship enhancements with the financial returns on those investments 
C) analyse the investments they make to retain customers 
D) A and B 
E) A,B,and C

Question 2

Recognising that some people eat cereal because of its nutritional value,some because it is easy to prepare,and some because it tastes good,is part of the ________ process.

Accepted Answer

A) acculturation 
B) market aggregation 
C) segmentation 
D) positioning 
E) customisation 
A) acculturation 
B) market aggregation 
C) segmentation 
D) positioning 
E) customisation

Question 3

Which of the following groups is a prime market for resort-style developments?

Accepted Answer

A) seniors 
B) families with children 
C) teens 
D) newlyweds 
E) young bachelors 
A) seniors 
B) families with children 
C) teens 
D) newlyweds 
E) young bachelors

Question 4

Why are marketers concerned about market fragmentation? How have marketers responded? Give an example of how market fragmentation has influenced your life.

Accepted Answer

Market fragmentation refers to how socie

Question 5

Positioning is the second step in the target marketing process and targeting is the third step.

Accepted Answer

A) True 
 B)False

Question 6

The Wright Bros.

Accepted Answer

A) value analysis 
B) internal market audit 
C) segment profile 
D) customer potential assessment 
E) customer guide 
A) value analysis 
B) internal market audit 
C) segment profile 
D) customer potential assessment 
E) customer guide

Question 7

Modifying a product's position in response to market place changes is called repositioning.

Accepted Answer

A) True 
 B)False

Question 8

You work for a company that manufactures surfboards.How would the products it offers,prices it charges,distribution strategy it pursues and promotional campaigns it uses differ if it chooses an undifferentiated,differentiated,concentrated or customised targeting strategy?

Accepted Answer

With an undifferentiated targeting strat

Question 9

The average collector of 'It's a small world' collectible miniatures will buy four new ones each year.

Accepted Answer

A) synergistic feedback 
B) economic share 
C) customer allocation 
D) share of communication 
E) share of customer 
A) synergistic feedback 
B) economic share 
C) customer allocation 
D) share of communication 
E) share of customer

Question 10

How can marketers make use of the concept that 'birds of a feather flock together'?

Accepted Answer

The expression 'birds of a feather flock

Question 11

When men in the baby boomer generation started getting grey hair,many were reluctant to use hair dyes made for women even though they are just as eager as women to fight the aging process.

Accepted Answer

A) socioeconomic 
B) lifestyle 
C) demographic 
D) behavioural 
E) psychographic 
A) socioeconomic 
B) lifestyle 
C) demographic 
D) behavioural 
E) psychographic

Question 12

________ segmentation variables classify consumers on the basis of how they act toward,feel about,or use a product.

Accepted Answer

A) Psychographic 
B) Socioeconomic 
C) Behavioural 
D) Geodemographic 
E) Demographic 
A) Psychographic 
B) Socioeconomic 
C) Behavioural 
D) Geodemographic 
E) Demographic

Question 13

Select a product or service and explain how its marketer can calculate the lifetime value of a customer.

Accepted Answer

The product or service mentioned by each

Question 14

VALS is ________.

Accepted Answer

A) a method of confirming that the chosen target market is representative of the ideal market segment 
B) a system used for psychographic segmentation 
C) a database of people who have purchased similar products 
D) a method of removing heterogeneous variables from a target market 
E) a strategy used for implementing geodemographic segmentation 
A) a method of confirming that the chosen target market is representative of the ideal market segment 
B) a system used for psychographic segmentation 
C) a database of people who have purchased similar products 
D) a method of removing heterogeneous variables from a target market 
E) a strategy used for implementing geodemographic segmentation

Question 15

A target market is not viable unless marketing communications can reach the segment and the company can serve it better than competitors.

Accepted Answer

A) True 
 B)False

Question 16

A company selling athletic shoes has asked you to advise them as to how it could use insights gained from VALS in its product range and its advertising.

Accepted Answer

The three primary consumer motivations a

Question 17

Which of the following statements is not true about metrosexuals?

Accepted Answer

A) Physical appearance is important to them. 
B) They are homosexual. 
C) They are in touch with their feminine side. 
D) They are educated urban dwellers. 
E) They are heterosexual. 
A) Physical appearance is important to them. 
B) They are homosexual. 
C) They are in touch with their feminine side. 
D) They are educated urban dwellers. 
E) They are heterosexual.

Question 18

A goal of CRM is to reap a high return on the investments made in customer relationships and maximise the value of a firm's ________.

Accepted Answer

A) customer equity 
B) brand personality 
C) target market 
D) VALS 
E) positioning 
A) customer equity 
B) brand personality 
C) target market 
D) VALS 
E) positioning

Question 19

Explain how a company can identify its best customers.

Accepted Answer

Companies can use their databases to det

Question 20

Which one of the following statements about the steps in the target marketing process is true?

Accepted Answer

A) The second step in the target marketing process is the identification of all segmentation variables. 
B) There are four steps in the target marketing process. 
C) The final step in the target marketing process is positioning. 
D) The first step in the target marketing process is to set marketing objectives. 
E) All of the above 
A) The second step in the target marketing process is the identification of all segmentation variables. 
B) There are four steps in the target marketing process. 
C) The final step in the target marketing process is positioning. 
D) The first step in the target marketing process is to set marketing objectives. 
E) All of the above

To determine customer equity,firms ________.

Recognising that some people eat cereal because of its nutritional value,some because it is easy to prepare,and some because it tastes good,is part of the ________ process.

Which of the following groups is a prime market for resort-style developments?

Why are marketers concerned about market fragmentation? How have marketers responded? Give an example of how market fragmentation has influenced your life.

Positioning is the second step in the target marketing process and targeting is the third step.

The Wright Bros.

Modifying a product's position in response to market place changes is called repositioning.

You work for a company that manufactures surfboards.How would the products it offers,prices it charges,distribution strategy it pursues and promotional campaigns it uses differ if it chooses an undifferentiated,differentiated,concentrated or customised targeting strategy?

The average collector of 'It's a small world' collectible miniatures will buy four new ones each year.

How can marketers make use of the concept that 'birds of a feather flock together'?

When men in the baby boomer generation started getting grey hair,many were reluctant to use hair dyes made for women even though they are just as eager as women to fight the aging process.

________ segmentation variables classify consumers on the basis of how they act toward,feel about,or use a product.

Select a product or service and explain how its marketer can calculate the lifetime value of a customer.

VALS is ________.

A target market is not viable unless marketing communications can reach the segment and the company can serve it better than competitors.

A company selling athletic shoes has asked you to advise them as to how it could use insights gained from VALS in its product range and its advertising.

Which of the following statements is not true about metrosexuals?

A goal of CRM is to reap a high return on the investments made in customer relationships and maximise the value of a firm's ________.

Explain how a company can identify its best customers.

Which one of the following statements about the steps in the target marketing process is true?

Welcome to the World of Marketing: Creating and Delivering Value

Strategic Market Planning: Taking the Big Picture

Thriving in the Marketing Environment: The World Is Flat

Marketing Research: Gathering,analysing and Using Information

Consumer Behaviour: How and Why We Buy

Business-To-Business Markets: How and Why Organisations Buy

Creating and Managing Products

Services and Other Intangibles: Marketing a Product That Isnt There

Pricing the Product

One-To-Many: Advertising,consumer Sales Promotion and Public Relations

One-To-One: Trade Promotion,data-Driven Marketing and Personal Selling

Many-To-Many: Online Marketing Communication and New Media

Delivering Value Through Supply Chains and Logistics

Filters

Exam 7: Sharpening the Focus: Target Marketing Strategies and Customer Relationship Management

To determine customer equity,firms ________.

Recognising that some people eat cereal because of its nutritional value,some because it is easy to prepare,and some because it tastes good,is part of the ________ process.

Which of the following groups is a prime market for resort-style developments?

Why are marketers concerned about market fragmentation? How have marketers responded? Give an example of how market fragmentation has influenced your life.

Positioning is the second step in the target marketing process and targeting is the third step.

The Wright Bros.

Modifying a product's position in response to market place changes is called repositioning.

You work for a company that manufactures surfboards.How would the products it offers,prices it charges,distribution strategy it pursues and promotional campaigns it uses differ if it chooses an undifferentiated,differentiated,concentrated or customised targeting strategy?

The average collector of 'It's a small world' collectible miniatures will buy four new ones each year.

How can marketers make use of the concept that 'birds of a feather flock together'?

When men in the baby boomer generation started getting grey hair,many were reluctant to use hair dyes made for women even though they are just as eager as women to fight the aging process.

________ segmentation variables classify consumers on the basis of how they act toward,feel about,or use a product.

Select a product or service and explain how its marketer can calculate the lifetime value of a customer.

VALS is ________.

A target market is not viable unless marketing communications can reach the segment and the company can serve it better than competitors.

A company selling athletic shoes has asked you to advise them as to how it could use insights gained from VALS in its product range and its advertising.

Which of the following statements is not true about metrosexuals?

A goal of CRM is to reap a high return on the investments made in customer relationships and maximise the value of a firm's ________.

Explain how a company can identify its best customers.

Which one of the following statements about the steps in the target marketing process is true?

Welcome to the World of Marketing: Creating and Delivering Value

Strategic Market Planning: Taking the Big Picture

Thriving in the Marketing Environment: The World Is Flat

Marketing Research: Gathering,analysing and Using Information

Consumer Behaviour: How and Why We Buy

Business-To-Business Markets: How and Why Organisations Buy

Creating and Managing Products

Services and Other Intangibles: Marketing a Product That Isnt There

Pricing the Product

One-To-Many: Advertising,consumer Sales Promotion and Public Relations

One-To-One: Trade Promotion,data-Driven Marketing and Personal Selling

Many-To-Many: Online Marketing Communication and New Media

Delivering Value Through Supply Chains and Logistics

Filters