Question 1

By analyzing the behaviors of ________,companies can learn about their marketing weaknesses and attempt to correct them.
A)hard-core loyals
B)split loyals
C)shifting loyals
D)switchers
E)ambivalents

Accepted Answer

Switchers are customers who frequently change brands, indicating a lack of loyalty. By analyzing their behaviors, companies can identify their marketing weaknesses, such as ineffective advertising or a lack of product differentiation, and attempt to correct them to retain these customers in the future.

Question 2

How are brands likely to position themselves if they are competing in a market that demonstrates diffused preferences?

Accepted Answer

The answer of How are brands likely to position themselves...

Question 3

________ are often a small percentage of the market but account for a high percentage of total consumption.
A)Light users
B)Medium users
C)Heavy users
D)Nonusers
E)None of the above

Accepted Answer

Heavy users are typically those who consume a product or service at a much higher rate than the average consumer. Although they may make up a small percentage of the market, their high level of consumption can account for a significant portion of total demand for the product or service. Identifying and targeting heavy users can be an effective marketing strategy to drive sales and increase revenue.

Question 4

Users of a brand can be segmented into several groups based on the strength of commitment to the brand.If a brand manager is seeking to identify those users who are actively considering alternative brands,he or she should look for users that are labeled as ________.
A)convertible
B)shallow
C)average
D)entrenched
E)latent

Accepted Answer

The answer of Users of a brand can be segmented...

Question 5

As a brand manager you have decided to use the ________ full market coverage approach in marketing to your customers,whereby your firm will operate in several market segments and design different products for each segment.
A)undifferentiated
B)differentiated
C)concentrated
D)introverted
E)parallel

Accepted Answer

The differentiated approach involves targeting multiple market segments and creating products that are tailored to each segment's needs and preferences. This approach allows for a more personalized and focused marketing strategy, which can lead to higher customer satisfaction and loyalty.

Question 6

Most companies today are turning to micromarketing at one of four levels.What are those levels?

Accepted Answer

The answer of Most companies today are turning to micromarketing...

Question 7

You have decided to take a purchasing approach to segmenting a proposed business market.All of the following would be potential means (subsegments)for segmenting under the "purchasing approach" EXCEPT ________.
A)purchasing-function organization
B)power structure
C)specific application
D)nature of existing relationships
E)purchasing criteria

Accepted Answer

The answer of You have decided to take a purchasing...

Question 8

Not everyone is in favor of local marketing.Identify two arguments made against local marketing.

Accepted Answer

The answer of Not everyone is in favor of local...

Question 9

Marketers use two broad groups of variables to segment consumer markets.Identify these groups and how they are used.

Accepted Answer

The answer of Marketers use two broad groups of variables...

Question 10

If your assignment was (for each segment)to create a value proposition and product-price positioning strategy based on the segment's unique customer needs and characteristics,you would be in which of the following steps of the segmentation process?
A)Needs-based segmentation
B)Segment identification
C)Segment attractiveness
D)Segment positioning
E)Segment "acid-test"

Accepted Answer

Developing a value proposition and product-price positioning strategy based on a segment's unique customer needs and characteristics is part of the segmentation process of segment positioning. This step involves determining how to position the product or service to appeal to the needs and wants of the identified segment.

Question 11

Explain the concept of the Long Tail and how consumers' embrace of the Internet as a shopping medium has changed consumer buying patterns.

Accepted Answer

The answer of Explain the concept of the Long Tail...

Question 12

If a marketing manager employs such marketing techniques as online buzz,student ambassadors,cool events,and street teams to reach target markets,the manager is most likely appealing to the ________ market.
A)pre-school
B)Generation X
C)Generation Y
D)Generation Z
E)latent baby boomers

Accepted Answer

Generation Y, also known as millennials, are the demographic born between the early 1980s and early 2000s. They are heavily influenced by technology and peer recommendations, making online buzz, student ambassadors, cool events, and street teams effective marketing techniques to reach this market.

Question 13

Assume that you have decided to use a niche strategy to advance your marketing goals.Characterize an attractive niche.

Accepted Answer

The answer of Assume that you have decided to use...

Question 14

Mature and reflective people who seek durability,functionality,and value in products are most likely to be categorized as ________ in the VALS system.
A)innovators
B)thinkers
C)achievers
D)experiencers
E)strivers

Accepted Answer

According to the VALS system, thinkers are characterized as mature and reflective individuals who prioritize durability, functionality and value in their products. Therefore, the best choice is B)thinkers.

Question 15

A starting point for discussing segmentation is mass marketing.Explain this concept.

Accepted Answer

The answer of A starting point for discussing segmentation is...

Question 16

What is customer cloning and how is it used?

Accepted Answer

The answer of What is customer cloning and how is...

Question 17

Local marketing reflects a growing trend called grassroots marketing.Characterize grassroots marketing.

Accepted Answer

The answer of Local marketing reflects a growing trend called...

Question 18

A flexible market offering consists of two parts.Identify and describe these two parts.

Accepted Answer

The answer of A flexible market offering consists of two...

Question 19

A hardware store is interested in reaching people who are characterized by the VALS system as being practical,down-to-earth,and self-sufficient who like to work with their hands,the ________ category.
A)believers
B)strivers
C)survivors
D)experiencers
E)makers

Accepted Answer

According to the VALS system, people who are practical, down-to-earth, and self-sufficient and like to work with their hands are categorized as "makers." This is the category that is most likely to be interested in a hardware store.

Question 20

The key to attracting potential users,or even possibly nonusers,is ________.
A)understanding the reasons they are not using
B)offering financial incentives for first-time use
C)increasing the usage rate of existing users
D)developing a new product that better meets their needs
E)increasing advertising expenditures

Accepted Answer

Understanding the reasons why potential users are not using a product or service is crucial in developing strategies to attract them. It allows companies to identify pain points and barriers to adoption, and address them to make their offering more appealing.

Quiz 8: Identifying Market Segments and Targets

By analyzing the behaviors of ________,companies can learn about their marketing weaknesses and attempt to correct them.

How are brands likely to position themselves if they are competing in a market that demonstrates diffused preferences?

________ are often a small percentage of the market but account for a high percentage of total consumption.

Users of a brand can be segmented into several groups based on the strength of commitment to the brand.If a brand manager is seeking to identify those users who are actively considering alternative brands,he or she should look for users that are labeled as ________.

As a brand manager you have decided to use the ________ full market coverage approach in marketing to your customers,whereby your firm will operate in several market segments and design different products for each segment.

Most companies today are turning to micromarketing at one of four levels.What are those levels?

You have decided to take a purchasing approach to segmenting a proposed business market.All of the following would be potential means (subsegments) for segmenting under the "purchasing approach" EXCEPT ________.

Not everyone is in favor of local marketing.Identify two arguments made against local marketing.

Marketers use two broad groups of variables to segment consumer markets.Identify these groups and how they are used.

If your assignment was (for each segment) to create a value proposition and product-price positioning strategy based on the segment's unique customer needs and characteristics,you would be in which of the following steps of the segmentation process?

Explain the concept of the Long Tail and how consumers' embrace of the Internet as a shopping medium has changed consumer buying patterns.

If a marketing manager employs such marketing techniques as online buzz,student ambassadors,cool events,and street teams to reach target markets,the manager is most likely appealing to the ________ market.

Assume that you have decided to use a niche strategy to advance your marketing goals.Characterize an attractive niche.

Mature and reflective people who seek durability,functionality,and value in products are most likely to be categorized as ________ in the VALS system.

A starting point for discussing segmentation is mass marketing.Explain this concept.

What is customer cloning and how is it used?

Local marketing reflects a growing trend called grassroots marketing.Characterize grassroots marketing.

A flexible market offering consists of two parts.Identify and describe these two parts.

A hardware store is interested in reaching people who are characterized by the VALS system as being practical,down-to-earth,and self-sufficient who like to work with their hands,the ________ category.

The key to attracting potential users,or even possibly nonusers,is ________.