Quiz 5: Market Segmenting,targeting,and Positioning

When Sally selected a group of upper income people living in Atlanta as her market,she was engaged in market segmentation.

Selling the same product to everyone is known as undifferentiated marketing.

Technology is making it more difficult for small companies and entrepreneurs to gather information about potential customers.

Google's AdSense and AdWords programs can be utilized by companies to aid in segmentation practices.

Companies often find that finding and attracting new customers is more difficult than retaining customers.

Information pertaining to customers is entered into a CDB system.

To firms,market segmentation means: meet my needs-give me what I want.

Which of the following types of marketing refers to selling the same product to all consumers? A)Mass marketing B)Niche marketing C)Differentiated marketing D)One-to-one marketing E)Psychographic marketing

Forming close,personal relationships with customers and giving them exactly what they want is known as _____. A)mass marketing B)niche marketing C)differentiated marketing D)one-to-one marketing E)psychographic marketing

Choosing select groups of people to sell to is called,_____. A)mass marketing A)niche marketing B)differentiated marketing C)one-to-one marketing D)psychographic marketing

To avoid head-on competition with other firms trying to capture the same customers,a firm may choose a _____ strategy. A)mass marketing B)targeted marketing C)niche marketing D)undifferentiated marketing E)benefit marketing

A benefit of utilizing a targeted marketing strategy is that a company may be able to: A)develop distribution efficiency through mass production. B)better understand the competition's customer. C)expand head-on competition with other firms. D)retain "at risk" customers in danger of defecting to a competitor. E)keep promotional costs low by sending the same message to all parties.

Which of the following is the first step in one-to-one marketing? A)Differentiate among your customers B)Better understand the competition's customer C)Identify your customers D)Create a marketing message that can be mass produced E)Establish short-term measures to evaluate your efforts

_____ refers to how much a customer will spend in the future. A)Lifetime value B)Projected rate of return C)Customer value D)Value proposition E)Customer profitability scale

Which of the following steps in one-to-one marketing involves determining who your best customers are in terms of what they spend and will spend in the future? A)Differentiate among your customers B)Better understand the competition's customer C)Identify your customers D)Create a marketing message that can be mass produced E)Establish short-term measures to evaluate your efforts

_____ entails selling the same product to all consumers.

_____ involves choosing select groups of people to sell to.

_____ involves forming close relationships with customers.

It is beneficial for a business to get to know and form close relationships with _____ because it is the goal to do as much business as possible with each one of them.

Information about customers is often kept in a _____ system.

Firms may deliberately "untarget" _____ customers.

_____ refers to how much a customer will spend in the future.

Explain the difference between a targeted marketing strategy and a mass marketing strategy.

What are the advantages of utilizing a targeted marketing strategy?

What methods do firms utilize to better understand their current customers so as to build stronger relationships?

What are the steps in one-to-one marketing?

A football team has decided to create a line of apparel geared towards women.The team is engaging in geographic segmentation.

Geodemographics combines geographic and demographic information for marketing purposes.

Behavioral segmentation may answer the question,"How do our customers use our product?"

Encouraging consumers to use your products for multiple purposes is a smart marketing strategy.

Psychographic segmentation is commonly utilized because relevant data is available for free at the U.S.Census Bureau's Web site.

One of the most well-known psychographic surveys is VALS.

Which of the following is a reason for a firm to use multiple segmentation bases? A)Because it is a good business practice B)To utilize market research C)To get a fuller picture of its customers and create real value for them D)Because marketers want to get as much value out of the customer as possible E)To gain information about the mass consumer

Which of the following segmentation categories answers the question,"How do my customers live their lives?" A)Demographic B)Behavioral C)Geographic D)Psychographic E)Geodemographic

_____ characteristics divides people and organizations into groups according to how they act toward products. A)Demographic B)Behavioral C)Geographic D)Psychographic E)Geodemographic

A company that produces laundry detergent offers one product with stain removing action while another is made for energy efficient washing machines.Which of the following segmentation strategies has the company used? A)Demographic segmentation B)Loyalty segmentation C)Benefits segmentation D)Psychographic segmentation E)Geodemographic segmentation

The generation that accounts for 50% of U.S.consumer spending is known as _____. A)seniors B)baby boomers C)Generation X D)Generation Y E)tweens

Family life cycle refers to: A)the stages families go through over time and how it affects people's buying behavior. B)the buying behavior of a family that results in a particular amount of buying power. C)how often the family purchases particular products in a month. D)how often a family travels together. E)the amount of time that passes between each having each child.

The sub-segment of the Hispanic market that is characterized as containing individuals who are English dominant,free thinkers,and multicultural is known as _____. A)accidental explorers B)the enlightened C)just moved in'rs D)SYLrs E)FOBrs

Which of the following types of segmentation strategies utilize city size and population density? A)Targeted segmentation B)Geographic segmentation C)Demographic segmentation D)Geodemographic segmentation E)Benefit segmentation

Customizing advertisements over the public address system on the subway based on the upcoming stop/destination is utilizing _____. A)benefit segmentation B)geographic marketing C)psychographic marketing D)behavioral segmentation E)proximity marketing

_____ do not show a strong primary motivation. A)Makers B)Thinkers C)Experiencers D)Survivors E)Innovators

_____ are characterized as being motivated by self-expression and tend to be young,enthusiastic,and compulsive consumers. A)Believers B)Achievers C)Experiencers D)Survivors E)Innovators

Segmenting buyers by personal characteristics is known as _____.

Old brands or products companies "bring back" for a period of time are known as _____.

Criteria used to classify buyers are known as _____.

Geocoding is the process of plotting _____ on a map.

_____ is the best segmentation strategy to answer the question,"What do our customers think about and value?"

Income is used as a segmentation variable because it indicates a group's _____.

_____ are characterized as exhibiting all three primary motivations in a varying degree and are successful,sophisticated people.

_____ are motivated by self-expression and have enough skills to carry out projects successfully.

_____ is the result of using both qualitative and quantitative data.

List and describe the four segmentation categories.

Explain how a company that produces shampoo can utilize a benefit segmentation strategy when developing their product offerings.

Explain why Generation Y is an enticing age group for marketers to target.

List and briefly describe the eight categories of consumers established by the VALS survey.

A market may be more attractive than others because it is already swamped with competitors,so it must be successful.

A market may be more attractive than others because it is growing.

Mass marketing is attractive because it is efficient,so it saves a firm from doing more work and spending more money.

A firm utilizing multisegment marketing is less vulnerable to competition.

A concentrated marketing strategy can decrease a company's risk.

When engaging in niche marketing,a company's goal is to be a small fish in a big pond.

Few companies tailor their offerings to meet the needs of different buyers around the world.

Targeting a very select group of customers is known as _____. A)concentrated marketing B)niche marketing C)geocoding D)targeted marketing E)demographic marketing

Which of the following refers to niche marketing? A)Targeting a very select group of customers. B)Targeting an extremely select group of customers. C)The process of gathering information on a select group of customers. D)Targeting multiple groups of consumers. E)The process of segmenting buyers geographically.

A small target market that purchases high-end goods can still be attractive to an expensive watch company because: A)it is a growing market. B)the company has the resources to compete in the market. C)it's sizeable enough to be profitable given the operating costs. D)there are currently no other companies providing this type of product. E)it is difficult to reach.

A _____ strategy can allow a firm to respond to demographic and other changes in the market. A)mass marketing B)benefits marketing C)concentrated marketing D)multisegment marketing E)niche marketing

_____ is a new effort to isolate markets and "super target" them by gathering all kinds of data available. A)Niche marketing B)Benefits marketing C)Concentrated marketing D)Multisegment marketing E)Narrowcasting

_____ involves targeting multiple groups of consumers.

_____ is the process of gathering multiple sources of data available on people.

An attractive market must be _____,or the company can find a way to reach it.

An attractive market must "fit in" with the firm's _____ and _____.

_____ involves targeting a very select group of customers.

_____ involves targeting an extremely select group of customers.

_____ is a company that engages in microtargeting.

Describe the six factors that could make some markets more attractive than others.

A two-dimensional graph that visually shows where a product should stand is known as a positioning map.

Repositioning is an effort to "move" a product to a different place in the minds of consumers.

Positioning is especially important for those businesses facing a lot of competition.

Firms appealing to a new target market should keep their current taglines,products,and marketing strategies in place because it is important to remain consistent in the minds of consumers.

Positioning can help answer the question,"Why should buyers purchase your offering versus another?"

As companies do not want their products to be another "face in the crowd",marketers should be sure to _____ their product. A)position B)target C)segment D)advertise E)collaborate

_____ is how consumers perceive a product relative to the competition. A)Targeting B)Positioning C)Marketing D)Communicating E)Competitive analysis

Rachel has plotted all sub shops in Bethesda on a graph based on price and menu selection.Which of the following did she utilize? A)Positioning strategy B)Segmentation strategy C)Perceptual map D)Marketing mix analysis E)Customer value analysis

A _____ is a two-dimensional graph that visually shows where a product stands relative to competitors. A)customer data analysis B)segmentation plot C)positioning strategy D)perceptual map E)marketing plan

A(n)_____ is a catchphrase designed to sum up the essence of a product. A)value statement B)advertisement C)brand position D)product extension E)tagline

A _____ is a two-dimensional graph that visually shows where a product stands relative to its competitors.

Positioning involves tailoring a product so that it stands out from the _____ and people want to buy it.

Many companies use _____in their advertising to try to position their products in the minds of the buyer.

The process of "moving" a product to a different place in the minds of consumers is known as _____.

A make-up company who has been associated with baby boomers wants to appeal to Generation Y,so it hired young celebrities as endorsers and launched a line of fun,new beauty products.The make-up company was engaging in ____.

Explain why a company may need to position its product(s).

Explain why companies utilize taglines.

In what circumstance would a company reposition its product?