Question 1

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.

Accepted Answer

Online buzz, student ambassadors, cool events, and street teams are all tactics that would appeal to the younger generation, also known as Generation Y. This group is typically more tech-savvy and seeks out unique experiences and authentic connections with brands, which these marketing techniques can provide. Pre-schoolers would not be targeted with these tactics, and Generation Z may be too young to participate in some of the activities. Generation X and latent baby boomers are not the primary target for these marketing tactics.

Question 2

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

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Question 3

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

Accepted Answer

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Question 4

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.

Accepted Answer

The differentiated full market coverage approach involves operating in multiple market segments and designing different products for each segment. This allows the brand to tailor its offerings to the specific needs and preferences of each segment, maximizing its appeal to a wider range of customers. The undifferentiated full market coverage approach involves offering a single product to the entire market, while the concentrated approach focuses on a single segment. The introverted and parallel options are not recognized marketing approaches.

Question 5

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

Accepted Answer

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Question 6

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

Accepted Answer

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Question 7

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 ________.

Accepted Answer

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

Question 8

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

Accepted Answer

Switchers are customers who switch between brands or companies, and by analyzing their behavior, companies can identify weaknesses in their marketing strategy that led them to lose those customers to competitors.

Question 9

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.

Accepted Answer

The VALS system category that describes individuals who are practical, down-to-earth, self-sufficient and enjoy working with their hands is the Maker category. Therefore, the correct answer is E) Makers. The other categories are not as closely aligned with this specific set of characteristics.

Question 10

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

Accepted Answer

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Question 11

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

Accepted Answer

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Question 12

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

Accepted Answer

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Question 13

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

Accepted Answer

The VALS system categorizes people based on their primary motivations and resources. Thinkers are characterized as mature, reflective individuals who are motivated by a desire for durability, functionality, and value in products. This matches the characteristics given in the question, making B) thinkers the best choice. Innovators are motivated by change and excitement, achievers by success and status, experiencers by fun and excitement, and strivers by achieving success and social acceptance. These motivations do not match the characteristics given in the question.

Question 14

What is customer cloning and how is it used

Accepted Answer

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Question 15

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 ________.

Accepted Answer

The "specific application" is not directly related to the purchasing approach, which focuses on how purchases are made, who makes them, and the criteria used, rather than the application of the product or service.

Question 16

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

Accepted Answer

This step is referred to as segment positioning, where the value proposition and product-price positioning strategy are developed based on the unique customer needs and characteristics of each segment identified in the previous steps (segment identification and segment attractiveness). This step involves crafting a clear and compelling positioning statement that communicates the benefits of the product or service to the target customers in each segment.

Question 17

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

Accepted Answer

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Question 18

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

Accepted Answer

Heavy users are known to account for a high percentage of total consumption, even though they make up only a small percentage of the market. This is known as the 80/20 rule or Pareto Principle, which states that roughly 20% of customers account for 80% of the sales.

Question 19

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

Accepted Answer

Understanding the reasons why potential users or non-users are not using the product or service is essential in order to address their concerns and develop solutions that will appeal to them. This can involve conducting market research, gathering feedback from current users, and analyzing competitors to determine areas where improvements can be made. Without this understanding, any efforts to attract these users may be ineffective or even counterproductive.

Question 20

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

Accepted Answer

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Quiz 8: Identifying Market Segments and Targets