Question 1

Pete always buys Purina dog food for his dog because he believes that it is the best value for the nutritional content. Pete's loyalty status is best described as ________.

Accepted Answer

Pete's loyalty status is best described as "hard-core loyal" because he consistently buys the same brand, Purina, due to his belief in its value and nutritional content.

Question 2

Local marketing reflects a growing trend called macromarketing.

Accepted Answer

Local marketing focuses on tailoring products and marketing strategies to suit local tastes and preferences, whereas macromarketing looks at marketing strategies and their impact on society and the economy at large, reflecting broader trends and issues.

Question 3

Customer cloning is the practice of identifying the key characteristics of a market segment and then identifying multiple geographic areas where the majority of the population possesses those characteristics.

Accepted Answer

The answer of Customer cloning is the practice of identifying...

Question 4

According to the VALS segmentation system, ________ are conservative, conventional, and traditional people with concrete beliefs. They prefer familiar, US-made products and are loyal to established brands.

Accepted Answer

According to the VALS segmentation system, Believers are exactly described as conservative, conventional, and traditional people with concrete beliefs. They prefer familiar, US-made products and are loyal to established brands.

Question 5

The sale of turkeys in the United States is highest in mid- to late November, as people buy turkeys to serve at Thanksgiving. Grocery stores that specifically advertise turkeys at this time of year are segmenting on the basis of ________.

Accepted Answer

Grocery stores are segmenting their market on the basis of occasion - the occasion being Thanksgiving.

Question 6

According to the VALS segmentation system, ________ are considered to be trendy and fun-loving people who are resource-constrained. They favor stylish products that emulate the purchases of those with greater material wealth.

Accepted Answer

According to the VALS segmentation system, Strivers are characterized as trendy and fun-loving people who are constrained in terms of resources. They aspire to emulate those with greater material wealth and thus favor stylish products.

Question 7

Effective target marketing requires that marketers use market segmentation, market targeting, and market positioning to achieve success in the marketplace.

Accepted Answer

Market segmentation involves dividing a larger market into smaller groups of consumers with distinct needs and characteristics, market targeting involves selecting one or more of these segments to focus on, and market positioning involves creating a unique image and identity for the product or brand in the minds of the target market. Together, these strategies help marketers effectively reach and appeal to specific groups of consumers.

Question 8

Dennis requests his father to buy him a PlayStation^® for his birthday. With respect to consumer decision roles, which role is Dennis currently playing?

Accepted Answer

Dennis is the one who first came up with the idea and request for the PlayStation, making him the initiator in the decision-making process. The influencer may be someone who influences Dennis to want the PlayStation, the decider may be the person who ultimately buys it, the buyer may be Dennis's father, and the gatekeeper may be a parent or guardian who controls access to resources or information.

Question 9

If a buyer is loyal to two or three different brands of soap, this buyer's loyalty status can be described as being among the ________.

Accepted Answer

A split loyal is a buyer who is loyal to two or three different brands of a product, such as soap.

Question 10

A market segment consists of a group of consumers who share a similar set of needs and wants.

Accepted Answer

A market segment is defined as a group of consumers who share similar needs and wants. This is a fundamental concept in marketing, and it allows companies to tailor their products, services, and marketing messaging to appeal to specific groups of consumers. By understanding the unique needs of different market segments, companies can improve their customer satisfaction and increase their sales and profits.

Question 11

Mothers-to-be are potential users who will turn into heavy users of infant products and services. By targeting mothers-to-be as future heavy users, producers of these products and services are segmenting consumers on the basis of ________.

Accepted Answer

The statement indicates that producers of infant products and services are segmenting consumers based on their user status, specifically targeting mothers-to-be who will become heavy users of these products and services once they give birth.

Question 12

A local service company has decided to segment its market based on occupation; therefore, it has chosen a form of demographic segmentation for its approach.

Accepted Answer

The company is segmenting its market based on occupation, which is a form of demographic segmentation that groups people based on characteristics such as age, gender, education, income, occupation, etc.

Question 13

A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can show the firm which brands are most competitive with its own.

Accepted Answer

Split loyals are consumers who are loyal to two or more brands, indicating which brands are competitive with each other.

Question 14

Linda was buying all her groceries from Home Needs supermarket for the past 5 years. She recently came across The Convenience Store, another supermarket just a few miles away from her place and started buying her groceries from them. Linda can be best described as a(n) ________.

Accepted Answer

Linda was loyal to Home Needs supermarket for 5 years but then shifted her loyalty to The Convenience Store. Hence, she is a shifting loyal customer.

Question 15

Beltway Boomers are the nation's tech-savvy singles and couples living in fashionable neighborhoods on the urban fringe.

Accepted Answer

The answer of Beltway Boomers are the nation's tech-savvy singles...

Question 16

A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can help identify the products' strengths.

Accepted Answer

Hard-core loyals are the customers who stick with a brand regardless of the circumstances such as a better price or promotion by competitors. Analyzing their behavior can help identify the products' strengths that are preferred by these highly loyal customers.

Question 17

Illustrations of personality segmentation would include culture-oriented, sports-centered, or outdoor-oriented subsegments.

Accepted Answer

The answer of Illustrations of personality segmentation would include culture-oriented,...

Question 18

When Amy goes shopping for clothes, she goes into every store in the mall looking for the best deal. She is very price conscious. On the basis of loyalty status, Amy can be described as a(n) ________.

Accepted Answer

Amy's behavior of going into every store in the mall to find the best deal indicates that she is not loyal to any one particular store or brand. She is a switcher, meaning she is not attached to any particular brand or store and may switch her purchases based on which one offers the best deal at the moment.

Question 19

The key to attracting potential users of a product or service, or even possibly nonusers, is ________.

Accepted Answer

Understanding the reasons why potential users are not using a product or service is crucial in addressing their concerns and needs, and eventually attracting them to try or use it. This enables companies to tailor their marketing efforts and product development strategies, ensuring that they provide solutions that resonate with their target audience. Offering financial incentives (B) may attract some users, but this approach may not be sustainable in the long run. Increasing the usage rate of existing users (C) is important, but it does not necessarily attract new users. Developing a new product (D) may be effective, but it requires extensive market research and development resources. Increasing advertising expenditures (E) may raise awareness, but it does not address the actual reasons why potential users are not using the product or service.

Question 20

According to the VALS segmentation system, ________ are considered to be elderly, passive people who are concerned about change and are loyal to their favorite brands.

Accepted Answer

Survivors are characterized as elderly, passive individuals who are cautious about change and tend to be brand loyal, according to the VALS segmentation system.

Quiz 9: Identifying Market Segments and Targets