Question 1

A new trend in marketing is toward customerization.Describe what customerization is and how marketers are using it.

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Question 2

To be useful,market segments must rate favorably on five key criteria.What are those criteria?

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Question 3

Identify the four market segment groups based on brand loyalty status and list what a company can learn from analyzing the degrees of brand loyalty.

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Question 4

The recipe for Internet niching success is to ________.
A)find a need and fill it
B)choose a hard-to-find product that customers do not need to see and touch
C)choose a low-budget product that is heavily demanded by Gen Y
D)choose an exclusive product sold primarily to seniors
E)find a product that has some attraction to a health-conscious market

Accepted Answer

The answer of The recipe for Internet niching success is...

Question 5

There are several major segmentation variables that might be used by a marketer to address a consumer market.If the marketer were to use social class,psychographic lifestyle,and readiness stage to segment its market,identify possible segmentation subcategories under each of the three.

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Question 6

Marketing to Generation Y is a challenge because of their size and characteristics.Because they are often turned off by overt branding practices and a "hard sell," marketers have tried many different approaches to reach and persuade Gen Y.List and briefly discuss four of those methods for reaching this group.

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Question 7

The VALS segmentation system has evolved into an eight-part typology.List and briefly describe any four categories of that eight-part typology.

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Question 8

Hilton Hotels customizes rooms and lobbies according to location.Northeastern hotels are sleeker and more cosmopolitan.Southwestern hotels are more rustic.This is an example of ________ segmentation.
A)demographic
B)behavioral
C)psychographic
D)geographic
E)user status

Accepted Answer

The example given is related to geographic segmentation, which involves dividing the market into different geographical units, such as nations, regions, states, counties, cities, or neighborhoods. As Hilton Hotels customizes rooms and lobbies according to the location, this is a clear example of geographic segmentation.

Question 9

Which of the following statements accurately describes what demographers are calling the "boom-boom effect"?
A)Consumers are demanding more "bang for their buck."
B)Baby boomers still rule the marketplace.
C)Generation X and its taste for violence will dominate the market in the future.
D)Products that appeal to 20-somethings also appeal to baby boomers.
E)Companies must have success quickly or go bust.

Accepted Answer

The "boom-boom effect" refers to the phenomenon where products and marketing campaigns that target younger generations, particularly 20-somethings, also have success with baby boomers. This is because baby boomers are now living longer and staying more active, which causes them to seek out products that keep them feeling youthful and relevant.

Question 10

Newlyweds in the United States buy more in the first six months than an established household does in five years.Newlyweds are an example of a(n)________ segment.
A)life stage
B)gender
C)behavior
D)user status
E)income

Accepted Answer

The statement describes how newlyweds behave as a segment, meaning a group of customers who share similar needs and characteristics. In this case, the shared characteristic is that they are in the same life stage. Life stage segmentation is a common demographic segmentation method, which groups customers based on major events or changes in their life, such as getting married, having a baby or retiring.

Question 11

The text describes five possible patterns for target market selection.Describe the pattern called selective specialization.

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Question 12

Market segments can be defined in many different ways.One way to carve up a market is to identify preference segments.List and briefly characterize three preference segments cited in the text.

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Question 13

The marketer ________ the segments;the marketer's task is to identify the segments and decide which one(s)to target.
A)plans
B)creates
C)does not create
D)rarely controls
E)controls

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Question 14

Anderson and Narus have urged marketers to present flexible market offerings to all members of a segment.A flexible market offering consists of two parts.Which part contains the product and service elements that all segment members value?
A)Naked solution
B)Discretionary solution
C)Maximum solution
D)Pseudo solution
E)Virtual solution

Accepted Answer

The part of the flexible market offering that contains the product and service elements that all segment members value is called the naked solution.

Question 15

Increasingly,companies are finding that their markets are ________ as middle-market Americans migrate toward more premium products.
A)"triangle shaped"
B)"inverted"
C)"hourglass shaped"
D)"circular"
E)"linear"

Accepted Answer

The phrase "hourglass shaped" typically refers to a market in which there is a shrinking middle class and a growing divide between high-end and low-end products, creating an hourglass shape. In this scenario, companies are finding that their markets are shifting toward more premium products, indicating that the high-end of the market is growing and the low-end is shrinking, which is consistent with an hourglass-shaped market.

Question 16

Pampers divides its market demographically on the basis of ________ into prenatal,new baby,baby,toddler,and preschooler.
A)life stage
B)gender
C)age
D)income
E)social class

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The answer of Pampers divides its market demographically on the...

Question 17

Thanks to the trading-up trend,New Luxury goods sell at higher volumes than traditional luxury goods.Identify and describe the three main types of New Luxury products.

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The answer of Thanks to the trading-up trend,New Luxury goods...

Question 18

If a marketing researcher uses such names (categories)as Blue Blood Estates,Winner's Circle,Hometown Retired,or Shotguns and Pickups when doing segmentation research,the marketing researcher is using ________ clusters.
A)PRIZM
B)geodemographic
C)psychographic
D)demographic
E)VALS

Accepted Answer

The answer of If a marketing researcher uses such names...

Question 19

The Conversion Model measures the strength of consumers' psychological commitment to brands and their openness to change.Identify and describe the four segments of brand users and the four segments of nonusers.

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Question 20

When Coca-Cola sold only one kind of Coke in a 6.5-ounce bottle,it was practicing what is called ________.
A)primary marketing
B)micromarketing
C)macromarketing
D)segmented marketing
E)mass marketing

Accepted Answer

Mass marketing involves selling a product to a large audience with no customization or segmentation. Coca-Cola only selling one kind of Coke in a small size bottle indicates they were targeting a broad mass market rather than specific segments.

Quiz 8: Identifying Market Segments and Targets

A new trend in marketing is toward customerization.Describe what customerization is and how marketers are using it.

To be useful,market segments must rate favorably on five key criteria.What are those criteria?

Identify the four market segment groups based on brand loyalty status and list what a company can learn from analyzing the degrees of brand loyalty.

The recipe for Internet niching success is to ________.

There are several major segmentation variables that might be used by a marketer to address a consumer market.If the marketer were to use social class,psychographic lifestyle,and readiness stage to segment its market,identify possible segmentation subcategories under each of the three.

The VALS segmentation system has evolved into an eight-part typology.List and briefly describe any four categories of that eight-part typology.

Hilton Hotels customizes rooms and lobbies according to location.Northeastern hotels are sleeker and more cosmopolitan.Southwestern hotels are more rustic.This is an example of ________ segmentation.

Which of the following statements accurately describes what demographers are calling the "boom-boom effect"?

Newlyweds in the United States buy more in the first six months than an established household does in five years.Newlyweds are an example of a(n) ________ segment.

The text describes five possible patterns for target market selection.Describe the pattern called selective specialization.

Market segments can be defined in many different ways.One way to carve up a market is to identify preference segments.List and briefly characterize three preference segments cited in the text.

The marketer ________ the segments;the marketer's task is to identify the segments and decide which one(s) to target.

Anderson and Narus have urged marketers to present flexible market offerings to all members of a segment.A flexible market offering consists of two parts.Which part contains the product and service elements that all segment members value?

Increasingly,companies are finding that their markets are ________ as middle-market Americans migrate toward more premium products.

Pampers divides its market demographically on the basis of ________ into prenatal,new baby,baby,toddler,and preschooler.

Thanks to the trading-up trend,New Luxury goods sell at higher volumes than traditional luxury goods.Identify and describe the three main types of New Luxury products.

If a marketing researcher uses such names (categories) as Blue Blood Estates,Winner's Circle,Hometown Retired,or Shotguns and Pickups when doing segmentation research,the marketing researcher is using ________ clusters.

The Conversion Model measures the strength of consumers' psychological commitment to brands and their openness to change.Identify and describe the four segments of brand users and the four segments of nonusers.

When Coca-Cola sold only one kind of Coke in a 6.5-ounce bottle,it was practicing what is called ________.