Question 1

Which of the following refers to a cultural factor in the context of segmenting international markets?
A) receptivity of foreign firms
B) economic development of the country
C) population income levels
D) stability of the government
E) values and attitudes

Accepted Answer

Values and attitudes are examples of cultural factors that can influence consumer behavior and market segmentation in international markets. These factors include beliefs, customs, and social norms that may vary across different countries and cultures. Understanding these differences is crucial for companies seeking to successfully enter and compete in foreign markets. The other options (A, B, C, and D) may also be important factors in market segmentation, but they are not specifically related to cultural factors.

Question 2

________ segmentation assumes that nations close to one another will have many common traits and behaviors.
A) Geographic
B) Occasion
C) Psychographic
D) Benefit
E) Demographic

Accepted Answer

Geographic segmentation assumes that nations close to one another will have many common traits and behaviors, as they share similar environments, lifestyles, and cultures. Demographic segmentation is based on variables such as age, gender, income, and education level. Occasion segmentation is based on specific events or situations that motivate consumer behavior. Psychographic segmentation focuses on personality traits, values, attitudes, and interests. Benefit segmentation divides consumers based on the benefits they seek from a product or service.

Question 3

Papillon, a popular retailer of chic women's clothing, segments its market according to consumer lifestyles. Papillon most likely uses ________ segmentation for segmenting its market.
A) geographic
B) psychographic
C) benefit
D) age and life-cycle
E) occasion

Accepted Answer

Psychographic segmentation involves dividing a market into different groups based on consumer lifestyles, values, and personality characteristics. Since Papillon segments its market according to consumer lifestyles, it is most likely using psychographic segmentation. Geographic segmentation is based on where consumers live or work, benefit segmentation groups consumers based on the benefits they seek from products, age and life-cycle segmentation divides consumers based on their age and life stage, and occasion segmentation targets consumers based on specific occasions or events.

Question 4

Pacific Fisheries divides its customers into different regional units, such as Asia, Australia, and the Americas. This is an example of ________ segmentation.
A) demographic
B) psychographic
C) geographic
D) occasion
E) benefit

Accepted Answer

Pacific Fisheries is dividing its customers based on geographic segmentation, which involves dividing a market into different geographical units, such as nations, states, regions, and cities, to better target marketing efforts and tailor products and services to the unique needs and preferences of each region.

Question 5

A market segment that is large enough or profitable enough to serve is ________.
A) measurable
B) accessible
C) substantial
D) profitable
E) differentiable

Accepted Answer

A market segment that is substantial refers to a group of consumers that is large enough or profitable enough to serve.

Question 6

Venus Inc., a company designing and marketing branded diamond jewelry, targets wealthy consumers with similar needs and buying behaviors, even though the consumers are located in different countries. This is an example of ________ segmentation.
A) intermarket
B) loyalty
C) life-cycle
D) income
E) psychographic

Accepted Answer

Intermarket segmentation is the process of grouping consumers with similar needs and buying behaviors in different countries, in order to target them with the same marketing mix. In this case, Venus Inc. is targeting the same wealthy consumers with similar needs and behaviors in different countries, indicating that they are using intermarket segmentation. Loyalty segmentation refers to the process of targeting consumers based on their loyalty to a certain brand or company. Life-cycle segmentation is based on the stage of life a consumer is in, such as college students or retirees. Income segmentation targets consumers based on their income level. Psychographic segmentation targets consumers based on their personality traits and values. None of these options are the best fit for the scenario described in the question.

Question 7

When the size, purchasing power, and profile of a market segment can be calculated, the market is ________.
A) measurable
B) profitable
C) substantial
D) actionable
E) competitive

Accepted Answer

When a market segment can be measured in terms of its size, purchasing power, and profile, it is considered measurable. This information is important for marketers to determine if it is a viable target market and to develop effective marketing strategies.

Question 8

Anchor Tractors focuses on selling its farm equipment in North America and Europe. It has not yet considered expanding into the Middle East. Which factor is likely most important in this decision regarding expansion?
A) geographic
B) political
C) demographic
D) personality
E) cultural

Accepted Answer

Political factors are likely the most important in deciding whether to expand into the Middle East due to geopolitical tensions and instability in the region.

Question 9

An Irish company that manufactures umbrellas and ponchos primarily targeting consumers during the winter months is using ________ segmentation.
A) psychographic
B) income
C) geographic
D) occasion
E) benefit

Accepted Answer

The answer of An Irish company that manufactures umbrellas and...

Question 10

Double Drill Inc. segments its foreign markets by per capita income. This firm segments the international markets based on ________.
A) political factors
B) legal factors
C) geographic location
D) economic factors
E) cultural factors

Accepted Answer

Double Drill Inc. segments its foreign markets by per capita income, which is an economic factor.

Question 11

Orion Inc. markets luxury watches. It targets the wealthy global elite segment, regardless of their geographic location. Orion most likely uses ________ segmentation.
A) income
B) age-group
C) occasion
D) benefit
E) cross-market

Accepted Answer

The answer of Orion Inc. markets luxury watches. It targets...

Question 12

When an effective program can be designed for attracting and serving a particular segment, the segment is best described as ________.
A) accessible
B) measurable
C) competitive
D) actionable
E) differentiable

Accepted Answer

The answer of When an effective program can be designed...

Question 13

Using ________ segmentation, marketers form segments of consumers who have similar needs and buying behaviors even though they are located in different countries.
A) psychographic
B) demographic
C) occasion
D) benefit
E) intermarket

Accepted Answer

Intermarket segmentation is the process of forming segments of consumers who have similar needs and buying behaviors even though they are located in different countries. This allows marketers to effectively target and appeal to consumers in different regions of the world with customized marketing strategies. Psychographic segmentation is based on personality traits, values, and beliefs, while demographic segmentation uses characteristics such as age, gender, and income. Occasion segmentation groups consumers by their behavior during different occasions or events, and benefit segmentation divides consumers based on the benefits they seek in a product or service.

Question 14

________ segments are conceptually distinguishable and respond differently to different marketing mix elements and programs.
A) Complex
B) Measurable
C) Competitive
D) Differentiable
E) Homogeneous

Accepted Answer

Differentiable segments are those that are distinct from one another and respond differently to marketing mix elements and programs. This allows for targeted and effective marketing strategies to be developed for each segment.

Question 15

Business information services such as Experian Marketing Services and Nielsen help marketers to ________.
A) save significant amounts of money on shipping products
B) spend more time identifying potential customers
C) learn more specific details from consumers about their products
D) segment people and locations into marketable groups of like-minded consumers
E) expand their product offerings to interested clients and provide high-quality service to them

Accepted Answer

Business information services such as Experian Marketing Services and Nielsen help marketers to segment people and locations into marketable groups of like-minded consumers. They provide data analysis and insights on consumer behavior, preferences, and demographics, which can be used to create targeted marketing campaigns and improve customer engagement.

Question 16

Marketers often segment international markets according to the type and stability of government. In such instances, they segment markets based on ________.
A) geographic location
B) economic factors
C) cultural factors
D) political factors
E) sociocultural factors

Accepted Answer

Marketers use government stability as a criteria to segment international markets, which falls under the category of political factors.

Question 17

Bailey's Burgers promotes the Bailey's Jumbo Burger as a fun snack for teens and young adults. In this instance, Bailey's Burgers is practicing ________ segmentation.
A) benefit
B) age and life-cycle
C) psychographic
D) geographic
E) gender

Accepted Answer

Bailey's Burgers is using age and life-cycle segmentation by promoting the jumbo burger as a fun snack for teens and young adults.

Question 18

An American cola-manufacturing company that primarily targets rebellious and adventurous people most likely uses ________ segmentation.
A) occasion
B) geographic
C) income
D) benefit
E) psychographic

Accepted Answer

Psychographic segmentation involves dividing the market into groups based on personality traits, values, interests, and lifestyles. By targeting rebellious and adventurous people, the cola-manufacturing company is using psychographic segmentation.

Question 19

Market segments that can be effectively reached and served are ________.
A) measurable
B) accessible
C) substantial
D) actionable
E) profitable

Accepted Answer

The answer of Market segments that can be effectively reached...

Question 20

Teen Mania Inc., a company marketing adventure sports merchandise for teenagers, targets the world's teenagers, who have similar needs and buying behavior even though they are located in different countries. Which market segmentation is evident here?
A) income segmentation
B) psychographic segmentation
C) gender segmentation
D) intermarket segmentation
E) occasion segmentation

Accepted Answer

Intermarket segmentation is evident here as the company is targeting teenagers from different countries who have similar needs and buying behavior. This is different from demographic or psychographic segmentation, which would focus on characteristics such as age or personality traits, respectively. Income, gender, and occasion segmentation are not mentioned as factors in this scenario.

Quiz 7: Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Which of the following refers to a cultural factor in the context of segmenting international markets?

________ segmentation assumes that nations close to one another will have many common traits and behaviors.

Papillon, a popular retailer of chic women's clothing, segments its market according to consumer lifestyles. Papillon most likely uses ________ segmentation for segmenting its market.

Pacific Fisheries divides its customers into different regional units, such as Asia, Australia, and the Americas. This is an example of ________ segmentation.

A market segment that is large enough or profitable enough to serve is ________.

Venus Inc., a company designing and marketing branded diamond jewelry, targets wealthy consumers with similar needs and buying behaviors, even though the consumers are located in different countries. This is an example of ________ segmentation.

When the size, purchasing power, and profile of a market segment can be calculated, the market is ________.

Anchor Tractors focuses on selling its farm equipment in North America and Europe. It has not yet considered expanding into the Middle East. Which factor is likely most important in this decision regarding expansion?

An Irish company that manufactures umbrellas and ponchos primarily targeting consumers during the winter months is using ________ segmentation.

Double Drill Inc. segments its foreign markets by per capita income. This firm segments the international markets based on ________.

Orion Inc. markets luxury watches. It targets the wealthy global elite segment, regardless of their geographic location. Orion most likely uses ________ segmentation.

When an effective program can be designed for attracting and serving a particular segment, the segment is best described as ________.

Using ________ segmentation, marketers form segments of consumers who have similar needs and buying behaviors even though they are located in different countries.

________ segments are conceptually distinguishable and respond differently to different marketing mix elements and programs.

Business information services such as Experian Marketing Services and Nielsen help marketers to ________.

Marketers often segment international markets according to the type and stability of government. In such instances, they segment markets based on ________.

Bailey's Burgers promotes the Bailey's Jumbo Burger as a fun snack for teens and young adults. In this instance, Bailey's Burgers is practicing ________ segmentation.

An American cola-manufacturing company that primarily targets rebellious and adventurous people most likely uses ________ segmentation.

Market segments that can be effectively reached and served are ________.

Teen Mania Inc., a company marketing adventure sports merchandise for teenagers, targets the world's teenagers, who have similar needs and buying behavior even though they are located in different countries. Which market segmentation is evident here?