Question 1

For a business-to-consumer company, it is possible to get demographic information about target customers using postal codes.

Accepted Answer

A) True 
 B)False  True

Question 2

As described in the Chapter 4 case study, what did Elizabeth Wood use to get started in her own business?

Accepted Answer

A)   B2B profiling
B)   customer surveying
C)   outsourcing and partnering
D)   psychographics B

Question 3

A one-to-one marketing strategy begins with a customer profile.

Accepted Answer

A) True 
 B)False  True

Question 4

According to the textbook, two major advantages of the federal census are that it is comprehensive and timely.

Accepted Answer

A) True 
 B)False

Question 5

According to the Chapter 4 opening case study, Lands' End was a target customer of My Virtual Model.

Accepted Answer

A) True 
 B)False

Question 6

Your secondary research should include an analysis of current census data.

Accepted Answer

A) True 
 B)False

Question 7

Outsourcing functions such as accounting and payroll can help a small business owner to have more time to focus on the target customer.

Accepted Answer

A) True 
 B)False

Question 8

Which type of profiling is used for CRM?

Accepted Answer

A)   segmentation
B)   customer
C)   industry
D)   competitor

Question 9

A target customer can be either a person or a business.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following provides secondary research data on target customers?

Accepted Answer

A)   focus groups
B)   census taking
C)   interviews
D)   documentaries

Question 11

How often are federal census data gathered?

Accepted Answer

A)   every 2 years
B)   every 4 years
C)   every 5 years
D)   every 10 years

Question 12

According to the textbook, the three customer groups that entrepreneurs should be looking for are primary, secondary, and indirect.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is the LEAST important question when interviewing potential customers?

Accepted Answer

A)   What did you need, but could not find?
B)   How far do you drive to shop here?
C)   How often do you shop here?
D)   I am opening a better store close by. Can I count on you to shop there?

Question 14

According to the text, you should focus your business start-up as a B2C company and expand into the B2B market once you are established.

Accepted Answer

A) True 
 B)False

Question 15

The term Nexus generation refers to the 50+ age group.

Accepted Answer

A) True 
 B)False

Question 16

What is SRI International's acronym VALS used to describe?

Accepted Answer

A)   value and livelihood model
B)   value and lifestyle model
C)   visible and long-term consumer model
D)   virtual and linked systems model

Question 17

My Virtual Model (Chapter 4 case study) was successful because of its B2C strategy.

Accepted Answer

A) True 
 B)False

Question 18

Which type of marketing involves the process of identifying the specific needs of each customer, repeatedly satisfying those needs, and creating a long-term, value-added relationship?

Accepted Answer

A)   consumer
B)   end-user
C)   benefit
D)   one-to-one

Question 19

What is the term for the mental picture of your business, product, or service at some point in time?

Accepted Answer

A)   mission
B)   objective
C)   vision
D)   concept

Question 20

Which kind of customer does Louise Guay of MVM call a "follower"?

Accepted Answer

A)   target customer
B)   secondary customer
C)   invisible customer
D)   primary customer

Exam 4: Profiling Your Target Customer

For a business-to-consumer company, it is possible to get demographic information about target customers using postal codes.

As described in the Chapter 4 case study, what did Elizabeth Wood use to get started in her own business?

A one-to-one marketing strategy begins with a customer profile.

According to the textbook, two major advantages of the federal census are that it is comprehensive and timely.

According to the Chapter 4 opening case study, Lands' End was a target customer of My Virtual Model.

Your secondary research should include an analysis of current census data.

Outsourcing functions such as accounting and payroll can help a small business owner to have more time to focus on the target customer.

Which type of profiling is used for CRM?

A target customer can be either a person or a business.

Which of the following provides secondary research data on target customers?

How often are federal census data gathered?

According to the textbook, the three customer groups that entrepreneurs should be looking for are primary, secondary, and indirect.

Which of the following is the LEAST important question when interviewing potential customers?

According to the text, you should focus your business start-up as a B2C company and expand into the B2B market once you are established.

The term Nexus generation refers to the 50+ age group.

What is SRI International's acronym VALS used to describe?

My Virtual Model (Chapter 4 case study) was successful because of its B2C strategy.

Which type of marketing involves the process of identifying the specific needs of each customer, repeatedly satisfying those needs, and creating a long-term, value-added relationship?

What is the term for the mental picture of your business, product, or service at some point in time?

Which kind of customer does Louise Guay of MVM call a "follower"?