Question 1

What questions can be answered using predictive analytics?

Accepted Answer

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Question 2

Consumers belonging to the VALS segment called Believers are motivated by desire for achievement and have moderate resources, so they are trendy and seek approval from others.

Accepted Answer

Believers are motivated by ideals, have fewer resources, and are conservative. They are not primarily driven by achievement or seeking approval through trends.

Question 3

What is showrooming? Provide an example of how a retailer might combat it.

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Question 4

Geofencing consists of sending promotional alerts to the smartphones of customers who are near or had entered the store.

Accepted Answer

Geofencing is a location-based service in which an app or other software uses GPS, RFID, Wi-Fi or cellular data to trigger a pre-programmed action when a mobile device or RFID tag enters or exits a virtual boundary set up around a geographical location, known as a geofence. This often includes sending promotional alerts or notifications to customers' smartphones when they enter or are near the store.

Question 5

List the reasons all segmentation programs include demographic data.

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Question 6

Identify and discuss the four criteria that make market segments effective targets.

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Question 7

Colgate, probably the world's most sophisticated marketer of personal care products, markets its offerings according to consumers' need in caring for their teeth and maintaining oral hygiene.

Accepted Answer

Colgate is indeed recognized as one of the world's leading marketers in personal care products, specifically focusing on oral hygiene products like toothpaste and toothbrushes, tailored to meet various consumer needs for dental care.

Question 8

Long stays and repeat visits to a product's website are not related to high levels of product and purchase involvement or purchase intentions.

Accepted Answer

Long stays and repeat visits to a product's website are often indicators of high levels of product and purchase involvement, suggesting that the visitor has a strong interest in the product and may be more likely to have higher purchase intentions.

Question 9

What are the four groups of sites that collect information for real-time bidding?

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Question 10

P$YCLE segments consumers based on the household's lifestage class.

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Question 11

Position a health club offering to one of the VALS segments. In your description of the positioning for the segment, please note the segment's primary motivation, level of resources, level of innovativeness, and values and consumption patterns.

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Question 12

What is the difference between behavioral data and cognitive data? Explain the difference in measurement and provide examples of consumer-intrinsic and consumption-based information associated with each type.

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Question 13

An impression is a customer that becomes available for real-time bidding.

Accepted Answer

An impression is an opportunity to show an ad to a potential customer, and it becomes available for real-time bidding when the customer visits a website or app that has partnered with an ad exchange.

Question 14

Showrooming sends promotional alerts to the smartphones of customers who opt-in when the customers enter or near the store.

Accepted Answer

Showrooming refers to the practice of visiting a store to examine a product before buying it online at a lower price, not to sending promotional alerts to smartphones.

Question 15

Absolut Vodka has introduced limited editions of flavored vodkas in major cities with the cities' names integrated into the brand and with well-recognized features of the city embedded in the ads.

Accepted Answer

Absolut Vodka has released limited edition flavors and bottle designs that are inspired by major cities around the world, incorporating city names and recognizable features of each city into the branding and advertising campaigns.

Question 16

Web crawlers are programs that capture content across the Internet and transmit it to the data broker's servers.

Accepted Answer

Web crawlers, also known as spiders or bots, are programs that systematically browse the World Wide Web to collect information from websites, which can then be used by search engines, data brokers, and other entities for various purposes, including indexing web content.

Question 17

Distinguish between targeting, positioning, and segmentation. In your response, please indicate the correct order for the three steps.

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Question 18

What is real-time bidding? What is an impression?

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Question 19

Provide an example of how a demographic variable has been used to position a product to a target market.

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Quiz 2: Market Segmentation and Real-Time Bidding