Question 1

Explain psychographic segmentation.

Accepted Answer

The answer of Explain psychographic segmentation....

Question 2

A furniture manufacturer deals in furniture with antique designs.Its products have qualities that represent all that its customers aspire to be.The furniture mimics the designs used in royal households and provides customers with a means of self-expression.This is an example of:

Accepted Answer

A) geographic segmentation. 
B) behavioural segmentation. 
C) demographic segmentation. 
D) geodemographic segmentation. 
E) psychographic segmentation.

Question 3

A company that deals in sprays, creams, and perfumes uses promotional coupons to entice people to buy and try its product.This is an example of:

Accepted Answer

A) differentiated segmentation. 
B) behavioural segmentation. 
C) geodemographic segmentation. 
D) undifferentiated segmentation. 
E) concentrated segmentation.

Question 4

Which of the following holds true for the term perceptual maps?

Accepted Answer

A) It refers to the display, in two or more dimensions, of the position of products or brands in the consumer's mind. 
B) It refers to the segmentation that tailors a product or service to suit an individual customer's wants or needs. 
C) It refers to the mental picture that people have about a company and its products or services relative to competitors. 
D) It refers to a strategy in which marketers change a brand's focus to target new markets or realign the brand's core emphasis with changing market preferences. 
E) It refers to the practice of interacting on a one-to-one basis with many people to create
Custom-made products or services.

Question 5

People who are primarily motivated by ideals look for products and services that demonstrate success to their peers.

Accepted Answer

A) True 
 B)False

Question 6

How we live our lives to achieve goals is called:

Accepted Answer

A) self-concept. 
B) ideal point. 
C) self-value. 
D) lifestyle. 
E) self-morals.

Question 7

Magas is a business information service provider that helps companies by dividing the consumer market into different consumer segments.One such segment consists of neighbourhoods that are populated by super-rich families.People in this segment are more likely to take cruise ship vacations and store money in offshore banks.This is an example of:

Accepted Answer

A) differentiated segmentation. 
B) behavioural segmentation. 
C) geodemographic segmentation. 
D) undifferentiated segmentation. 
E) concentrated segmentation.

Question 8

A company develops a variety of exotic breads targeted at suburban areas where large families reside and the demand for easy breakfast options is high.This is an example of:

Accepted Answer

A) geographic segmentation. 
B) behavioural segmentation. 
C) demographic segmentation. 
D) geodemographic segmentation. 
E) psychographic segmentation.

Question 9

A company that sells shoes has a website with a make-your-own-shoe feature.It makes a vast number of styles in every major performance category available to the customer for personalization.This is an example of:

Accepted Answer

A) mass customization. 
B) brand repositioning. 
C) perceptual mapping. 
D) positioning. 
E) brand extension.

Question 10

Consumers buy many products and services because of their primary motivations-that is, how they see themselves in the world and how that self-image governs their activities.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following best describes a maker under the VALS classification?

Accepted Answer

A) Jeremy scouts the local papers for good deals and is loyal to his favourite brands. 
B) Jane is the successful, sophisticated vice-president of a corporate company. 
C) Sean is a sports enthusiast, loves trendy designer clothes, and spends generously on entertainment. 
D) Paul prides himself on his lack of attachment to material possessions and prefers value over luxury. 
E) Dana is deeply religious, is committed to her family, and buys only familiar products and
Established brands.

Question 12

The entry of other players in the market forced the company to divide its customer base into a variety of segments.The products offered to each of the segments varied.This is an example of:

Accepted Answer

A) differentiated segmentation. 
B) micro marketing. 
C) geodemographic segmentation. 
D) undifferentiated segmentation. 
E) concentrated segmentation.

Question 13

A company sells baseball bats.It has a website where customers can log in and choose from out of 50 variations with regard to the weight, length, thickness, and design of the bat.The customers get a bat based on their own specifications.This is an example of:

Accepted Answer

A) mass customization. 
B) brand repositioning. 
C) perceptual mapping. 
D) positioning. 
E) mass marketing.

Question 14

A company launches a new bike in the market.Although it maintains the same quality as other bikes in the market, it offers a much lower price.This is an example of:

Accepted Answer

A) brand repositioning. 
B) positioning. 
C) perceptual mapping. 
D) mass marketing. 
E) micro marketing.

Question 15

A company has launched a milk beverage containing chocolate.It has attracted children, teenagers, and adults alike.This is an example of:

Accepted Answer

A) differentiated segmentation. 
B) behavioural segmentation. 
C) geodemographic segmentation. 
D) undifferentiated segmentation. 
E) concentrated segmentation.

Question 16

Stella makes a living by knitting sweaters for customers.She interviews each customer to understand his or her specific needs and then designs the sweater accordingly.Each sweater is unique.This is an example of:

Accepted Answer

A) brand repositioning. 
B) positioning. 
C) perceptual mapping. 
D) mass marketing. 
E) micro marketing.

Question 17

Which of the following constitutes a benefit for undifferentiated marketing strategy?

Accepted Answer

A) It helps firms to obtain a bigger share of the market and increase the market for their products overall. 
B) It appeals to more customer segments. 
C) It helps to diversify the business, thereby lowering the company's overall risk. 
D) It is much easier to plan promotional strategies for different products being offered to different segments of the market. 
E) It does away with the need to develop separate strategies for different groups.

Question 18

A company primarily marketing cartoon strips to children created the concept of "forgotten joy" through advertisements to attract the adult segment.This is an example of:

Accepted Answer

A) brand repositioning. 
B) positioning. 
C) perceptual mapping. 
D) mass marketing. 
E) micro marketing.

Question 19

Skincare Co.offers skin-care products for men.This is an example of:

Accepted Answer

A) geographic segmentation. 
B) behavioural segmentation. 
C) demographic segmentation. 
D) geodemographic segmentation. 
E) psychographic segmentation.

Question 20

Explain "value" as a positioning method.

Accepted Answer

The answer of Explain "value" as a positioning method....

Exam 7: Value Creation Developing New Products

Explain psychographic segmentation.

A furniture manufacturer deals in furniture with antique designs.Its products have qualities that represent all that its customers aspire to be.The furniture mimics the designs used in royal households and provides customers with a means of self-expression.This is an example of:

A company that deals in sprays, creams, and perfumes uses promotional coupons to entice people to buy and try its product.This is an example of:

Which of the following holds true for the term perceptual maps?

People who are primarily motivated by ideals look for products and services that demonstrate success to their peers.

How we live our lives to achieve goals is called:

A company develops a variety of exotic breads targeted at suburban areas where large families reside and the demand for easy breakfast options is high.This is an example of:

A company that sells shoes has a website with a make-your-own-shoe feature.It makes a vast number of styles in every major performance category available to the customer for personalization.This is an example of:

Consumers buy many products and services because of their primary motivations-that is, how they see themselves in the world and how that self-image governs their activities.

Which of the following best describes a maker under the VALS classification?

The entry of other players in the market forced the company to divide its customer base into a variety of segments.The products offered to each of the segments varied.This is an example of:

A company sells baseball bats.It has a website where customers can log in and choose from out of 50 variations with regard to the weight, length, thickness, and design of the bat.The customers get a bat based on their own specifications.This is an example of:

A company launches a new bike in the market.Although it maintains the same quality as other bikes in the market, it offers a much lower price.This is an example of:

A company has launched a milk beverage containing chocolate.It has attracted children, teenagers, and adults alike.This is an example of:

Stella makes a living by knitting sweaters for customers.She interviews each customer to understand his or her specific needs and then designs the sweater accordingly.Each sweater is unique.This is an example of:

Which of the following constitutes a benefit for undifferentiated marketing strategy?

A company primarily marketing cartoon strips to children created the concept of "forgotten joy" through advertisements to attract the adult segment.This is an example of:

Skincare Co.offers skin-care products for men.This is an example of:

Explain "value" as a positioning method.