Question 1

Which of the following statements about the steps in the target marketing process is true?

Accepted Answer

The target marketing process typically involves segmenting the market, targeting specific segments, and then positioning the product or service to meet the needs of those segments. Positioning is the final step in this process.

Question 2

The dentist's office calling to remind you of your scheduled appointment for the next day is an example of _ _.

Accepted Answer

CRM (Customer Relationship Management) involves managing a company's interactions with current and potential customers, often using data analysis to improve business relationships, which includes reminders for appointments.

Question 3

The first step in customer relationship management (CRM)for a company is to .

Accepted Answer

The first step in customer relationship management (CRM) for a company is to identify customers and get to know them in as much detail as possible. This includes understanding their needs, wants, and preferences. Once a company has a good understanding of its customers, it can develop strategies to meet their needs and build long-term relationships.

Question 4

segmentation variables classify consumers on the basis of how they act toward,feel about,or use a product.

Accepted Answer

Behavioral segmentation variables classify consumers based on their actions, feelings, or usage of a product.

Question 5

A viable target market should .

Accepted Answer

A viable target market should be reachable, have distinct and homogeneous needs, be measurable, and be large enough to ensure profitability.

Question 6

helps firms communicate with and serve individual customers by better understanding their needs.

Accepted Answer

CRM (Customer Relationship Management) helps firms communicate with and serve individual customers by better understanding their needs.

Question 7

A(n)would probably include customer demographics,location,lifestyle information,and a description of how frequently the customer buys the product.

Accepted Answer

A segment profile typically includes detailed information about customer demographics, location, lifestyle, and purchasing behavior to better understand and target specific market segments.

Question 8

facilitates one- to- one marketing and allows the firm to talk to individual customers and adjust elements of their marketing strategy based on how each customer reacts.

Accepted Answer

CRM (Customer Relationship Management) facilitates one-to-one marketing by allowing firms to interact with individual customers and tailor marketing strategies based on customer responses and behaviors.

Question 9

means developing a marketing strategy aimed at influencing how a particular market segment perceives a good or service in comparison to the competition.

Accepted Answer

Positioning involves creating a specific image or perception of a product in the minds of the target market, distinguishing it from competitors.

Question 10

is a well- known system based on psychological traits that correlate with consumer behavior; it divides the entire U.S.population into segments and then sells pieces of this information to clients for specific strategic applications.

Accepted Answer

VALS2 (Values and Lifestyles 2) is a well-known system that segments the U.S. population based on psychological traits and consumer behavior, which is then used for strategic marketing applications.

Question 11

Optimistic rebels looking for a blank canvas for self expression are the segment.

Accepted Answer

Generation Y, also known as Millennials, are often characterized as optimistic and seeking self-expression.

Question 12

The VALS system categorizes consumers as .

Accepted Answer

The VALS (Values and Lifestyles) system categorizes consumers based on their values and lifestyles into groups such as principle-oriented, status-oriented, or action-oriented.

Question 13

An important aspect of customer relationship management (CRM)is that it .

Accepted Answer

CRM focuses on building long-term relationships with customers by treating them as partners, which helps in understanding their needs and improving customer satisfaction.

Question 14

Which of the following statements about customer relationship management (CRM)programs is true?

Accepted Answer

CRM programs encompass any touchpoint that serves as an interface between the customer and the company, facilitating better customer relationships and personalized interactions.

Question 15

If Reebok began marketing to the world's soccer and track athletes in addition to basketball players,it would add two .

Accepted Answer

Reebok is currently targeting basketball players. If it began marketing to the world's soccer and track athletes, it would be adding two target markets.

Question 16

With a marketing strategy,a company develops one or more products for each of several customer groups with different product needs.

Accepted Answer

Differentiated marketing strategy involves creating different products or marketing approaches for different customer groups, each with distinct needs.

Question 17

PRIZM is _ _.

Accepted Answer

PRIZM is a database that classifies every U.S. zip code according to demographic and lifestyle characteristics, helping marketers understand consumer behaviors and preferences.

Question 18

A _ strategy allows a company to identify its best customers,stay on top of their needs,and increase their satisfaction.

Accepted Answer

CRM (Customer Relationship Management) is a strategy that helps companies manage interactions with current and potential customers, focusing on improving customer satisfaction and retention.

Question 19

Recognizing that some people eat cereal because of its nutritional value,that some people eat cereal because it is easy to prepare,and some eat cereal because it tastes good is part of the process.

Accepted Answer

Segmentation involves dividing a market into distinct groups of buyers with different needs or behaviors, such as nutritional value, ease of preparation, or taste preferences.

Question 20

Many marketing experts advocate _ programs that allow companies to talk to individual customers and adjust elements of the marketing mix to satisfy the specific needs of each customer.

Accepted Answer

Customer Relationship Management (CRM) programs are designed to allow companies to interact with individual customers and tailor marketing efforts to meet their specific needs.

Quiz 7: Sharpening the Focus: Target Marketing Strategies and Cus-Tomer Relationship Management