Question 1

One reason demographic variables are the most popular bases for segmenting customer groups is because they .

Accepted Answer

A)  create smaller segments 
B)  involve fewer attributes to consider 
C)  are easier to measure than other variables 
D)  create more easily accessible segments 
E)  do not involve stereotypes

Question 2

Concentrated marketing can market more effectively by fine-tuning its products, prices, and programs to the needs of carefully defined segments.

Accepted Answer

A) True 
 B)False

Question 3

Bass Pro Shops recognizes that outdoors enthusiasts are a diverse group. Likely segments include hunters, campers, and boaters. What is this segmentation method called?

Accepted Answer

A)  usage rate 
B)  benefit 
C)  behavioural 
D)  psychographic 
E)  user status

Question 4

At the extreme, micromarketing becomes insofar as products and marketing programs are tailored to the needs and preferences of customers.

Accepted Answer

A)  local marketing 
B)  individual marketing 
C)  mass marketing 
D)  differentiated marketing 
E)  multi-segmented marketing

Question 5

Marketers typically limit their market segmentation analysis to a single variable in order to simplify the process.

Accepted Answer

A) True 
 B)False

Question 6

The distinctive yellow and blue "hands held high" logo of a local daycare distinguishes it from other establishments. The logo is prominently displayed on its building, t-shirts worn by the children, and at fundraising events. The daycare has differentiated itself through .

Accepted Answer

A)  people 
B)  services 
C)  positioning 
D)  channels 
E)  image

Question 7

Demographic factors are the most popular bases for segmenting customer groups.

Accepted Answer

A) True 
 B)False

Question 8

Creating market offerings that best serve targeted customers is called differentiation.

Accepted Answer

A) True 
 B)False

Question 9

Harry's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged men, and the other line targets younger, up-and-coming professionals. Harry's most likely segments the consumer market based on variables.

Accepted Answer

A)  universal 
B)  psychographic 
C)  behavioural 
D)  demographic 
E)  geographic

Question 10

Using a positioning strategy, companies can attack the more-for-more strategy of another firm by offering a brand of comparable quality at a lower price.

Accepted Answer

A)  less-for-more 
B)  more-for-the-same 
C)  same-for-less 
D)  less-for-much-less 
E)  more-for-less

Question 11

Which of the following types of differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage, expertise, and performance?

Accepted Answer

A)  services differentiation 
B)  people differentiation 
C)  product differentiation 
D)  channel differentiation 
E)  price differentiation

Question 12

Unilever's Dove brand, Nivea, Sephora and Canadian clothing brand Lululemon are developing new products in an effort to grow sales in a market they have previously paid little attention to. Lululemon expects to reach $1billion in sales by targeting which previously untapped market?

Accepted Answer

A)  children 
B)  low income 
C)  senior citizens 
D)  medical professionals 
E)  men

Question 13

Explain with examples how marketers segment markets based on occasions, benefits sought, and user status.

Accepted Answer

The answer of Explain with examples how marketers segment markets...

Question 14

is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviour.

Accepted Answer

A)  Market segmentation 
B)  Mass marketing 
C)  Differentiation 
D)  Market targeting 
E)  Positioning

Question 15

Which of the following includes the target segment of a product, the category to which the product belongs, and the product's point of difference from other members in the category?

Accepted Answer

A)  mission statement 
B)  inventory statement 
C)  vision statement 
D)  positioning statement 
E)  profit statement

Question 16

Geographic segmentation assumes that nations close to one another will have many common traits and behaviours.

Accepted Answer

A) True 
 B)False

Question 17

consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Accepted Answer

A)  Market segmentation 
B)  Differentiation 
C)  Market targeting 
D)  Positioning 
E)  Mass marketing

Question 18

A market segment is less attractive when _ .

Accepted Answer

A)  it is difficult for new entrants to enter the segment 
B)  there are few aggressive competitors in the segment 
C)  substitute products are unavailable in the segment 
D)  buyers in the market segment have weak bargaining powers 
E)  it contains powerful suppliers who can control prices

Question 19

Business marketers use variables such as customer operating characteristics, purchasing approaches, situational factors, and personal characteristics.

Accepted Answer

A) True 
 B)False

Question 20

Bakeries and coffee bistros that offer pumpkin-flavoured items only during the autumn season target their consumers primarily through segmentation.

Accepted Answer

A)  demographic 
B)  age and life-cycle 
C)  psychographic 
D)  income 
E)  occasion

Exam 6: Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

One reason demographic variables are the most popular bases for segmenting customer groups is because they .

Concentrated marketing can market more effectively by fine-tuning its products, prices, and programs to the needs of carefully defined segments.

Bass Pro Shops recognizes that outdoors enthusiasts are a diverse group. Likely segments include hunters, campers, and boaters. What is this segmentation method called?

At the extreme, micromarketing becomes insofar as products and marketing programs are tailored to the needs and preferences of customers.

Marketers typically limit their market segmentation analysis to a single variable in order to simplify the process.

The distinctive yellow and blue "hands held high" logo of a local daycare distinguishes it from other establishments. The logo is prominently displayed on its building, t-shirts worn by the children, and at fundraising events. The daycare has differentiated itself through .

Demographic factors are the most popular bases for segmenting customer groups.

Creating market offerings that best serve targeted customers is called differentiation.

Using a positioning strategy, companies can attack the more-for-more strategy of another firm by offering a brand of comparable quality at a lower price.

Which of the following types of differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage, expertise, and performance?

Unilever's Dove brand, Nivea, Sephora and Canadian clothing brand Lululemon are developing new products in an effort to grow sales in a market they have previously paid little attention to. Lululemon expects to reach $1billion in sales by targeting which previously untapped market?

Explain with examples how marketers segment markets based on occasions, benefits sought, and user status.

is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviour.

Which of the following includes the target segment of a product, the category to which the product belongs, and the product's point of difference from other members in the category?

Geographic segmentation assumes that nations close to one another will have many common traits and behaviours.

consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

A market segment is less attractive when _ .

Business marketers use variables such as customer operating characteristics, purchasing approaches, situational factors, and personal characteristics.

Bakeries and coffee bistros that offer pumpkin-flavoured items only during the autumn season target their consumers primarily through segmentation.