Deck 5: Market Segmenting, Targeting, and Positioning

Question 1

Information about customers is often kept in a _____ system.

Answer 1

customer relationship management (CRM)

Question 2

It is beneficial for a business to get to know and form close relationships with _____ because it is the goal to do as much business as possible with each one of them.

Answer 2

current customers

Question 3

Selling the same product to everyone is known as undifferentiated marketing.

Answer 3

True

Question 4

A benefit of utilizing a targeted marketing strategy is that a company may be able to:

A) develop distribution efficiency through mass production.
B) better understand the competition's customer.
C) expand head-on competition with other firms.
D) retain "at risk" customers in danger of defecting to a competitor.
E) keep promotional costs low by sending the same message to all parties.

Question 5

Forming close,personal relationships with customers and giving them exactly what they want is known as _____.

A) mass marketing
B) niche marketing
C) differentiated marketing
D) one-to-one marketing
E) psychographic marketing

Question 6

Which of the following is the first step in one-to-one marketing?

A) Differentiate among your customers
B) Better understand the competition's customer
C) Identify your customers
D) Create a marketing message that can be mass produced
E) Establish short-term measures to evaluate your efforts

Question 7

Which of the following types of marketing refers to selling the same product to all consumers?

A) Mass marketing
B) Niche marketing
C) Differentiated marketing
D) One-to-one marketing
E) Psychographic marketing

Question 8

Information pertaining to customers is entered into a CDB system.

Question 9

Choosing select groups of people to sell to is called,_____.

A) mass marketing
B) niche marketing
C) differentiated marketing
D) one-to-one marketing
E) psychographic marketing

Question 10

_____ involves choosing select groups of people to sell to.

Question 11

Which of the following steps in one-to-one marketing involves determining who your best customers are in terms of what they spend and will spend in the future?

A) Differentiate among your customers
B) Better understand the competition's customer
C) Identify your customers
D) Create a marketing message that can be mass produced
E) Establish short-term measures to evaluate your efforts

Question 12

To firms,market segmentation means: meet my needs-give me what I want.

Question 13

_____ refers to how much a customer will spend in the future.

A) Lifetime value
B) Projected rate of return
C) Customer value
D) Value proposition
E) Customer profitability scale

Question 14

To avoid head-on competition with other firms trying to capture the same customers,a firm may choose a _____ strategy.

A) mass marketing
B) targeted marketing
C) niche marketing
D) undifferentiated marketing
E) benefit marketing

Question 15

Technology is making it more difficult for small companies and entrepreneurs to gather information about potential customers.

Question 16

_____ entails selling the same product to all consumers.

Question 17

Companies often find that finding and attracting new customers is more difficult than retaining customers.

Question 18

_____ involves forming close relationships with customers.

Question 19

Google's AdSense and AdWords programs can be utilized by companies to aid in segmentation practices.

Question 20

When Sally selected a group of upper income people living in Atlanta as her market,she was engaged in market segmentation.

Question 21

Encouraging consumers to use your products for multiple purposes is a smart marketing strategy.

Question 22

Geodemographics combines geographic and demographic information for marketing purposes.

Question 23

What are the steps in one-to-one marketing?

Question 24

Firms may deliberately "untarget" _____ customers.

Question 25

Which of the following segmentation categories answers the question,"How do my customers live their lives?"

A) Demographic
B) Behavioral
C) Geographic
D) Psychographic
E) Geodemographic

Question 26

The sub-segment of the Hispanic market that is characterized as containing individuals who are English dominant,free thinkers,and multicultural is known as _____.

A) accidental explorers
B) the enlightened
C) just moved in'rs
D) SYLrs
E) FOBrs

Question 27

Which of the following types of segmentation strategies utilize city size and population density?

A) Targeted segmentation
B) Geographic segmentation
C) Demographic segmentation
D) Geodemographic segmentation
E) Benefit segmentation

Question 28

Behavioral segmentation may answer the question,"How do our customers use our product?"

Question 29

The generation that accounts for 50% of U.S.consumer spending is known as _____.

A) seniors
B) baby boomers
C) Generation X
D) Generation Y
E) tweens

Question 30

Family life cycle refers to:

A) the stages families go through over time and how it affects people's buying behavior.
B) the buying behavior of a family that results in a particular amount of buying power.
C) how often the family purchases particular products in a month.
D) how often a family travels together.
E) the amount of time that passes between each having each child.

Question 31

Which of the following is a reason for a firm to use multiple segmentation bases?

A) Because it is a good business practice
B) To utilize market research
C) To get a fuller picture of its customers and create real value for them
D) Because marketers want to get as much value out of the customer as possible
E) To gain information about the mass consumer

Question 32

_____ refers to how much a customer will spend in the future.

Question 33

Psychographic segmentation is commonly utilized because relevant data is available for free at the U.S.Census Bureau's Web site.

Question 34

_____ characteristics divides people and organizations into groups according to how they act toward products.

A) Demographic
B) Behavioral
C) Geographic
D) Psychographic
E) Geodemographic

Question 35

One of the most well-known psychographic surveys is VALS.

Question 36

What methods do firms utilize to better understand their current customers so as to build stronger relationships?

Question 37

A company that produces laundry detergent offers one product with stain removing action while another is made for energy efficient washing machines.Which of the following segmentation strategies has the company used?

A) Demographic segmentation
B) Loyalty segmentation
C) Benefits segmentation
D) Psychographic segmentation
E) Geodemographic segmentation

Question 38

What are the advantages of utilizing a targeted marketing strategy?

Question 39

Explain the difference between a targeted marketing strategy and a mass marketing strategy.

Question 40

A football team has decided to create a line of apparel geared towards women.The team is engaging in geographic segmentation.

Question 41

List and briefly describe the eight categories of consumers established by the VALS survey.

Question 42

_____ are characterized as exhibiting all three primary motivations in a varying degree and are successful,sophisticated people.

Question 43

Explain why Generation Y is an enticing age group for marketers to target.

Question 44

A market may be more attractive than others because it is growing.

Question 45

A market may be more attractive than others because it is already swamped with competitors,so it must be successful.

Question 46

Segmenting buyers by personal characteristics is known as _____.

Question 47

Geocoding is the process of plotting _____ on a map.

Question 48

Income is used as a segmentation variable because it indicates a group's _____.

Question 49

Explain how a company that produces shampoo can utilize a benefit segmentation strategy when developing their product offerings.

Question 50

_____ are motivated by self-expression and have enough skills to carry out projects successfully.

Question 51

Criteria used to classify buyers are known as _____.

Question 52

_____ do not show a strong primary motivation.

A) Makers
B) Thinkers
C) Experiencers
D) Survivors
E) Innovators

Question 53

_____ are characterized as being motivated by self-expression and tend to be young,enthusiastic,and compulsive consumers.

A) Believers
B) Achievers
C) Experiencers
D) Survivors
E) Innovators

Question 54

Mass marketing is attractive because it is efficient,so it saves a firm from doing more work and spending more money.

Question 55

A firm utilizing multisegment marketing is less vulnerable to competition.

Question 56

Customizing advertisements over the public address system on the subway based on the upcoming stop/destination is utilizing _____.

A) benefit segmentation
B) geographic marketing
C) psychographic marketing
D) behavioral segmentation
E) proximity marketing

Question 57

Old brands or products companies "bring back" for a period of time are known as _____.

Question 58

List and describe the four segmentation categories.

Question 59

_____ is the result of using both qualitative and quantitative data.

Question 60

_____ is the best segmentation strategy to answer the question,"What do our customers think about and value?"

Question 61

Targeting a very select group of customers is known as _____.

A) concentrated marketing
B) niche marketing
C) geocoding
D) targeted marketing
E) demographic marketing

Question 62

_____ is a new effort to isolate markets and "super target" them by gathering all kinds of data available.

A) Niche marketing
B) Benefits marketing
C) Concentrated marketing
D) Multisegment marketing
E) Narrowcasting

Question 63

_____ involves targeting multiple groups of consumers.

Question 64

An attractive market must be _____,or the company can find a way to reach it.

Question 65

Positioning is especially important for those businesses facing a lot of competition.

Question 66

Repositioning is an effort to "move" a product to a different place in the minds of consumers.

Question 67

Describe the six factors that could make some markets more attractive than others.

Question 68

_____ is the process of gathering multiple sources of data available on people.

Question 69

Firms appealing to a new target market should keep their current taglines,products,and marketing strategies in place because it is important to remain consistent in the minds of consumers.

Question 70

A small target market that purchases high-end goods can still be attractive to an expensive watch company because:

A) it is a growing market.
B) the company has the resources to compete in the market.
C) it's sizeable enough to be profitable given the operating costs.
D) there are currently no other companies providing this type of product.
E) it is difficult to reach.

Question 71

_____ is a company that engages in microtargeting.

Question 72

A concentrated marketing strategy can decrease a company's risk.

Question 73

An attractive market must "fit in" with the firm's _____ and _____.

Question 74

A _____ strategy can allow a firm to respond to demographic and other changes in the market.

A) mass marketing
B) benefits marketing
C) concentrated marketing
D) multisegment marketing
E) niche marketing

Question 75

When engaging in niche marketing,a company's goal is to be a small fish in a big pond.

Question 76

_____ involves targeting an extremely select group of customers.

Question 77

A two-dimensional graph that visually shows where a product should stand is known as a positioning map.

Question 78

Which of the following refers to niche marketing?

A) Targeting a very select group of customers.
B) Targeting an extremely select group of customers.
C) The process of gathering information on a select group of customers.
D) Targeting multiple groups of consumers.
E) The process of segmenting buyers geographically.

Question 79

_____ involves targeting a very select group of customers.

Question 80

Few companies tailor their offerings to meet the needs of different buyers around the world.