Question 1

________ are products such as the Mercedes Benz C-class and the American Express Blue card, that extend historically high-priced brands down-market while retaining their cachet.
A) Hourglass products
B) Mass market products
C) Old Luxury brand extensions
D) Masstige goods
E) Accessible superpremium products

Accepted Answer

The answer of ________ are products such as the Mercedes...

Question 2

Newlyweds in the United States buy more in the first six months than an established household does in five years. Newlyweds are an example of a(n) ________ segment.
A) life stage
B) age
C) behavior
D) user status
E) income

Accepted Answer

The fact that newlyweds are buying more in the first six months than an established household does in five years suggests that they are in a unique life stage, making A) life stage the best choice. Age, behavior, user status, and income may all be factors that contribute to this segment, but life stage is the driving force behind the behavior.

Question 3

________ are products such as Kiehl's skin care and Kendall-Jackson wines that are priced between average middle-market and superpremium Old Luxury brands and are also based on emotions.
A) Old Luxury brand extensions
B) Accessible superpremium products
C) Luxury items
D) Hourglass products
E) Masstige goods

Accepted Answer

Masstige goods are products that are positioned between mass-market and luxury goods, offering consumers higher quality and more prestige at accessible prices. Examples of masstige brands include Kiehl's and Kendall-Jackson wines.

Question 4

Jose and Erika have just divorced. Which of the following demographic segmentation subsegment formats might be used by marketers to reach Jose or Erika?
A) life stage
B) benefits
C) age segment
D) personality type
E) social class

Accepted Answer

Life stage segmentation would be the best choice as it considers major life events like divorce which can influence consumer behavior and needs. This subsegment format would allow marketers to target Jose and Erika based on their unique needs and preferences during this period of transition.

Question 5

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.
A) Generation Z
B) Generation X
C) Generation Y
D) Silent generation
E) Baby boomers

Accepted Answer

The answer of If a marketing manager employs such marketing...

Question 6

According to the VALS segmentation system, ________ are successful, goal-oriented people who focus on career and family. They favor premium products that demonstrate success to their peers.
A) Thinkers
B) Innovators
C) Achievers
D) Believers
E) Experiencers

Accepted Answer

The VALS segmentation system defines "Achievers" as individuals who prioritize personal and professional success and value high-quality, status-oriented products that demonstrate their success to others. This aligns with the description given in the question, which emphasizes a focus on career and family, as well as a preference for premium products that signal success to peers.

Question 7

As part of an antismoking crusade, the American Legacy Foundation hires teens as the "Truth Squad" to hand out T-shirts, bandanas, and dog tags at teen-targeted events. The American Legacy Foundation is using ________ to reach Generation Y.
A) computer games
B) street teams
C) unconventional sports
D) online buzz
E) videos

Accepted Answer

The American Legacy Foundation is using street teams to reach Generation Y by hiring teens as the "Truth Squad" to hand out promotional items at teen-targeted events.

Question 8

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, or the ________ category.
A) Believers
B) Strivers
C) Survivors
D) Experiencers
E) Makers

Accepted Answer

The category described fits the "Makers" segment of the VALS system, which represents individuals who enjoy hands-on work and value self-sufficiency.

Question 9

According to the VALS segmentation system, ________ are successful, sophisticated, active, "take-charge" people with high self-esteem. Their purchases often reflect cultivated tastes for relatively upscale, niche-oriented products and services.
A) Innovators
B) Thinkers
C) Achievers
D) Experiencers
E) Believers

Accepted Answer

Innovators are described by the VALS segmentation system as successful, sophisticated, and active individuals with high self-esteem, who prefer upscale, niche-oriented products and services, reflecting their cultivated tastes.

Question 10

Mature and reflective people who seek durability, functionality, and value in products are most likely to be categorized as ________ in the VALS system.
A) Innovators
B) Thinkers
C) Achievers
D) Experiencers
E) Strivers

Accepted Answer

The VALS system describes Thinkers as mature, reflective, and concerned with functionality and value in products. These individuals are also interested in educational and intellectual pursuits, making them the best fit for this scenario. Innovators are typically the first to adopt new products, Achievers are focused on success and status, Experiencers seek variety and stimulation, and Strivers are also focused on success but are more impulsive in their decision-making.

Question 11

The ________ segment of the US premium wine market skews male, has an average age of 35, and uses wine as a badge to say who they are, so they are willing to pay more to make sure they're getting the right bottle.
A) Savvy Shoppers
B) Image Seekers
C) Satisfied Sippers
D) Enthusiast
E) Overwhelmed

Accepted Answer

The Image Seekers segment fits the description given as they use wine as a badge to say who they are and are willing to pay more to ensure they're getting the right bottle. The Enthusiast segment may also be a possibility, but the age of 35 seems too low for this group.

Question 12

Rock band Foo Fighters created a digital street team that sends targeted e-mail messages to members who receive exclusive news, previews, and opportunities to win prizes. The Foo Fighters are using ________ to reach Generation Y.
A) student ambassadors
B) unconventional sports
C) cool events
D) computer games
E) online buzz

Accepted Answer

The use of a digital street team and targeted e-mail messages is an example of utilizing online buzz to reach Generation Y. This generation heavily relies on technology and digital platforms for communication and entertainment, making it a strategic approach for the Foo Fighters to connect with their target audience.

Question 13

According to the VALS segmentation framework, consumers primarily motivated by ideals are guided by ________.
A) knowledge
B) social activity
C) products that demonstrate success to their peers
D) variety
E) risk

Accepted Answer

Consumers primarily motivated by ideals are driven by knowledge, principles, and beliefs. They are motivated by a desire for self-expression, social responsibility, and a sense of belonging. They seek products and services that align with their values and beliefs.

Question 14

When consumers use Tide TOTALCARE laundry detergent, which is used by consumers who want to obtain dry-cleaning type results at home, it is an example of ________, or switching spending from one category to another while preserving a desired experience.
A) trading up
B) trading down
C) trading over
D) being trapped in the middle
E) treasure hunting

Accepted Answer

Trading over refers to the process where consumers switch their spending from one category to another while still seeking to maintain a desired experience or outcome. In this case, consumers are moving their spending from professional dry-cleaning services to a premium laundry detergent that promises similar results, which is an example of trading over.

Question 15

Which of the following statements accurately describes what demographers are calling the "boom-boom effect"?
A) Consumers are demanding more "bang for their buck."
B) Baby boomers still rule the marketplace.
C) Generation Y and their concern about environmental issues will dominate the market in the future.
D) Products that appeal to 21-year-olds also appeal to baby boomers.
E) Companies must gain success quickly.

Accepted Answer

The "boom-boom effect" refers to the trend that products or marketing campaigns that appeal to young adults (generally, 21-year-olds) also appeal to baby boomers, leading to increased sales for those products.

Question 16

Which of the following statements about Gen Yers is true?
A) They are selective, confident, and impatient.
B) They are more likely to associate retirement with "the beginning of the end."
C) They are more pragmatic and individualistic.
D) They were born between 1964 and 1978.
E) They were the first generation to find surpassing their parents' standard of living a serious challenge.

Accepted Answer

This statement accurately describes the characteristics commonly attributed to Gen Yers, also known as Millennials. They are often described as selective in their purchasing and career choices, confident in their abilities, and impatient for success.

Question 17

Which of the following statements about Gen Xers is true?
A) Gen Xers are more optimistic and team-oriented.
B) Gen Xers are selective, confident, and impatient.
C) Gen Xers are highly socially conscious and concerned about environmental issues.
D) Gen Xers feel self-sufficiency and the ability to handle any circumstance are key.
E) Technology is a barrier for Gen Xers.

Accepted Answer

Gen Xers are known for valuing self-sufficiency and independence, often preferring to handle situations on their own.

Question 18

________ is the science of using psychology and demographics to better understand consumers.
A) Psychographics
B) Interactionism
C) Clustering
D) Demographic transition
E) Customerization

Accepted Answer

Psychographics is the science of using psychology (such as values, attitudes, and lifestyles) in combination with demographic data (such as age, gender, and income) to better understand and segment consumers. It helps marketers and businesses tailor their products, services, and marketing messages to specific groups of consumers with similar psychographic profiles.

Question 19

The horizontal dimension in the VALS framework is ________.
A) resources
B) innovation
C) maturity
D) impulsiveness
E) consumer motivation

Accepted Answer

The VALS framework's horizontal dimension is consumer motivation. This dimension represents the primary psychological driver shaping a person's behavior and attitudes. VALS uses three consumer motivation groups: ideals, achievement, and self-expression. Each group is further divided into two types based on resources: high and low. Therefore, the horizontal dimension is crucial in understanding the consumer behavior of different groups.

Question 20

Kim is a young professional who enjoys snowboarding and going to rock concerts with her friends. According to the VALS eight-part typology segmentation system, Kim is best described as a(n) ________.
A) thinker
B) achiever
C) experiencer
D) striver
E) survivor

Accepted Answer

Experiencers are young, enthusiastic, and impulsive consumers who are looking for new and exciting experiences. They enjoy being social, taking risks, and trying new things, which aligns with Kim's interests in snowboarding and going to rock concerts. They tend to have low to moderate incomes and are heavy users of social media and other forms of digital technology. Thinkers and achievers are more practical and goal-oriented, while strivers and survivors have more limited resources and priorities.

Quiz 9: Identifying Market Segments and Targets

________ are products such as the Mercedes Benz C-class and the American Express Blue card, that extend historically high-priced brands down-market while retaining their cachet.

Newlyweds in the United States buy more in the first six months than an established household does in five years. Newlyweds are an example of a(n) ________ segment.

________ are products such as Kiehl's skin care and Kendall-Jackson wines that are priced between average middle-market and superpremium Old Luxury brands and are also based on emotions.

Jose and Erika have just divorced. Which of the following demographic segmentation subsegment formats might be used by marketers to reach Jose or Erika?

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.

According to the VALS segmentation system, ________ are successful, goal-oriented people who focus on career and family. They favor premium products that demonstrate success to their peers.

As part of an antismoking crusade, the American Legacy Foundation hires teens as the "Truth Squad" to hand out T-shirts, bandanas, and dog tags at teen-targeted events. The American Legacy Foundation is using ________ to reach Generation Y.

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, or the ________ category.

According to the VALS segmentation system, ________ are successful, sophisticated, active, "take-charge" people with high self-esteem. Their purchases often reflect cultivated tastes for relatively upscale, niche-oriented products and services.

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

The ________ segment of the US premium wine market skews male, has an average age of 35, and uses wine as a badge to say who they are, so they are willing to pay more to make sure they're getting the right bottle.

Rock band Foo Fighters created a digital street team that sends targeted e-mail messages to members who receive exclusive news, previews, and opportunities to win prizes. The Foo Fighters are using ________ to reach Generation Y.

According to the VALS segmentation framework, consumers primarily motivated by ideals are guided by ________.

When consumers use Tide TOTALCARE laundry detergent, which is used by consumers who want to obtain dry-cleaning type results at home, it is an example of ________, or switching spending from one category to another while preserving a desired experience.

Which of the following statements accurately describes what demographers are calling the "boom-boom effect"?

Which of the following statements about Gen Yers is true?

Which of the following statements about Gen Xers is true?

________ is the science of using psychology and demographics to better understand consumers.

The horizontal dimension in the VALS framework is ________.

Kim is a young professional who enjoys snowboarding and going to rock concerts with her friends. According to the VALS eight-part typology segmentation system, Kim is best described as a(n) ________.