Question 1

Assume that you went to a shopping mall to determine people's attitudes toward a new peanut butter and pickle flavoured ice cream.You would be collecting ________ data.

Accepted Answer

The survey at the shopping mall would collect primary data because it is being collected firsthand by the researcher for the specific purpose of evaluating people's attitudes toward the new ice cream flavour.

Question 2

A company that sells environmentally-friendly,zero-impact products would likely use ________ segmentation to reach out to people that match their lifestyle approach and attitudes towards nature.

Accepted Answer

Psychographic segmentation is based on lifestyle, attitudes, and values, which are relevant to a company selling environmentally-friendly products.

Question 3

Multicultural marketing is part of market segmentation by

Accepted Answer

Multicultural marketing is a form of market segmentation based on demographics, specifically targeting different ethnic and cultural groups. Psychographics, geography, product use, and attitudes may also be used for market segmentation, but they do not specifically target multicultural audiences.

Question 4

What is a target market?

Accepted Answer

A target market is a group of people with similar wants and needs who are expected to show interest in the same products. It is a specific segment of the overall market that a company focuses on with its marketing efforts.

Question 5

Which segmentation approach considers consumer characteristics such as their attitudes,interests,and opinions?

Accepted Answer

Psychographic segmentation focuses on consumer characteristics like attitudes, interests, and opinions.

Question 6

________ are particularly important to marketers because marketers can,through marketing efforts,sway consumers' likes and dislikes.

Accepted Answer

Psychographics are particularly important to marketers because they provide information about consumers' personality traits, values, attitudes, interests, and lifestyles. This information can help marketers better understand their target audience and tailor their marketing efforts to appeal to their specific psychographic profile. By understanding consumers' likes and dislikes, marketers can create messaging and campaigns that are more likely to resonate with them and prompt them to take action, such as making a purchase.

Question 7

The Chevrolet Spark is promoted to consumers based on fuel-efficiency and economy,while a Porsche is promoted based on high performance.This is an example of

Accepted Answer

Product positioning is the process of creating a unique image for a product in the minds of consumers. This is done by highlighting the product's unique features and benefits, and by positioning it in a way that differentiates it from competitors. In the case of the Chevrolet Spark and the Porsche, the Spark is positioned as a fuel-efficient and economical car, while the Porsche is positioned as a high-performance car.

Question 8

Which of the following should be considered in the demographic variables for market segmentation?

Accepted Answer

Income levels and marital status are demographic variables that are commonly used in market segmentation. Choice A is more related to psychographic variables, choice B is related to behavioral variables, choice D is related to geographic variables, and choice E is also related to geographic variables but may not be as relevant for all products.

Question 9

When Reader's Digest identified and classified its readers into young adults,computer owners,and professionals/managers,it was using

Accepted Answer

The classification of readers into young adults, computer owners, and professionals/managers is an example of market segmentation, which involves dividing the total market into smaller groups of consumers with similar needs, interests, or characteristics. This approach allows companies to tailor their marketing mix (product, price, promotion, and place) to meet the specific needs of each target segment more effectively.

Question 10

When is market research used most frequently?

Accepted Answer

Market research is most frequently used when a new or altered product is being considered. It helps businesses to understand their target audience and the demand for their product or service, as well as identify any potential issues or improvements that can be made.

Question 11

Groups of people with similar wants and needs that can be expected to show interest in the same products are called

Accepted Answer

Target markets refers to groups of people with similar wants and needs that a company specifically targets with their marketing efforts. Customers are those who have already purchased a product or service, prospects are potential customers who have expressed some level of interest, homogeneous segments is a term used in market segmentation to refer to groups with similar characteristics, and potential customers are those who have not yet purchased but may be interested in the product or service.

Question 12

________ is segmentation by such traits as age,income,gender,ethnicity,and marital status.

Accepted Answer

Demographics are segmentation variables based on characteristics or traits of a population, such as age, income, gender, ethnicity, and marital status. This type of segmentation is commonly used in marketing to help businesses tailor their products, services, and communications to specific groups of consumers.

Question 13

The study of what buyers need and how best to meet those needs is known as

Accepted Answer

The study of what buyers need and how best to meet those needs is known as market research. Marketing involves various activities such as promotion, pricing, and distribution, whereas market research specifically focuses on understanding the needs and preferences of customers in order to make informed business decisions. Psychographics and market segmentation are both components of market research, but not synonyms for it. Market stimulation is not a recognized term in marketing or market research.

Question 14

The best way to segment the market for umbrellas is probably by

Accepted Answer

Umbrellas are a product that is affected by weather conditions, which can vary based on location. Therefore, it makes sense to segment the market based on geographic variables such as climate, weather patterns, and regional differences in rainfall levels. This will help companies tailor their marketing strategies and products to meet the specific needs of customers in different regions.

Question 15

The best segmentation for small drug stores or dry cleaners would be

Accepted Answer

Small drug stores and dry cleaners mainly serve a local geographic area, and thus, geographic segmentation is the most appropriate method for them to identify and target their specific consumer base within their immediate vicinity.

Question 16

The importance of ________ in marketing can be seen in the example of the introduction of "Crayola IQ" colour pencils because crayons were seen as too "babyish" by 8 to 12-year olds.

Accepted Answer

The example of "Crayola IQ" colour pencils shows the importance of understanding demographics, specifically the age range and preferences of the target market. The marketing strategy was to appeal to older children who may have outgrown traditional crayons but still wanted creative expression.

Question 17

Primary data are

Accepted Answer

Primary data refers to data that is newly collected for a specific research purpose, rather than information that has already been published or gathered for another purpose. Therefore, option C is the correct answer, as it accurately describes what primary data is. The other options may be types of data as well, but they do not fully capture the concept of primary data.

Question 18

Purple Moon markets adventure software to pre-teen girls.This is an example of

Accepted Answer

Purple Moon is dividing the overall market into smaller groups based on age and gender, which is market segmentation. They are targeting a specific segment of the market (pre-teen girls) with their adventure software.

Question 19

What does the process of "positioning" involve?

Accepted Answer

The process of positioning involves designing a company's products or services to appeal to a specific target customer group. This involves analyzing the needs and wants of the target market and creating a unique marketing mix that differentiates the company's offerings from those of competitors. Positioning also involves developing a brand identity and communication strategy that resonates with the target audience. Therefore, option B is the correct answer.

Question 20

People with similar wants and needs constitute ________,which clearly requires ________.

Accepted Answer

People with similar wants and needs constitute a target market, which clearly requires market segmentation to effectively reach and cater to their specific needs. The other options are not as accurate or do not require segmentation.

Quiz 12: Understanding Marketing Principles and Developing Products