Question 1

VALS,a psychographic classification system,assigns consumers to one of eight groups based on two dimensions: primary motivation and resources.

Accepted Answer

Perhaps the best-known psychographic classification system is VALS, a product of SRI Consulting Business Intelligence (SRIC-BI). VALS assigns consumers to one of eight groups based on two dimensions: primary motivation and resources.

Question 2

In terms of user status,discount users choose one brand exclusively.

Accepted Answer

In terms of user status, sole users choose one brand exclusively.

Question 3

Marketers can obtain lists of companies in particular NAICS divisions for direct mailings.

Accepted Answer

The NAICS codes help companies segment markets and do research, and marketers can even obtain lists of companies in particular NAICS divisions for direct mailings.

Question 4

In volume segmentation,marketers rely on user-status variables to define consumers as light,medium,or heavy users of products.

Accepted Answer

In volume segmentation, marketers measure people's usage rates to define consumers as light, medium, or heavy users of products.

Question 5

Product concept refers to the way the marketer mixes and blends the 4 Ps to create the company's marketing strategy.

Accepted Answer

Marketing mix refers to the way the marketer mixes and blends the four Ps to create the company's marketing strategy.

Question 6

The product's package is a component of the promotion element of the marketing mix.

Accepted Answer

The product's package is a component of the product element of the marketing mix.

Question 7

Psychographics enables marketers to view people as individuals with feelings and inclinations.

Accepted Answer

Psychographics enables marketers to view people as individuals with feelings and inclinations.

Question 8

Differences between products that are readily apparent to the consumer are known as induced differences.

Accepted Answer

Perceptible differences between products are readily apparent to the consumer.

Question 9

In addition to tangible benefits,customers are often motivated by symbolism-what the brand name means to them,to associates,or to some social reference group.

Accepted Answer

In addition to tangible benefits, customers are often motivated by symbolism-what the brand name means to them, to associates, or to some social reference group.

Question 10

In the maturity stage of the product life cycle,prices tend to rise.

Accepted Answer

In the maturity stage, the marketplace becomes saturated with competing products and the number of new customers dwindles, so industry sales reach a plateau.

Question 11

The process of market segmentation is a three-step process that begins with planning and ends with market identification.

Accepted Answer

The process of market segmentation involves two steps: identifying groups of people (or organizations) with certain shared needs and aggregating (combining) these groups into larger market segments according to their interest in the product's utility.

Question 12

Brand equity refers to the totality of what consumers,distributors,dealers,and competitors feel and think about a brand over an extended period of time.

Accepted Answer

Brand equity refers to the totality of what consumers, distributors, dealers, and competitors feel and think about a brand over an extended period of time.

Question 13

When sales volume begins to rise rapidly,the product enters the maturity stage of the product life cycle.

Accepted Answer

When sales volume begins to rise rapidly, the product enters the growth stage of the product life cycle.

Question 14

Demographic segmentation is a way to define population groups by their statistical characteristics: sex,age,ethnicity,education,occupation,income,and other quantifiable factors.

Accepted Answer

Demographic segmentation is a way to define population groups by their statistical characteristics: sex, age, ethnicity, education, occupation, income, and other quantifiable factors.

Question 15

The target market for a company manufacturing dolls is most likely to be young children.

Accepted Answer

The target market refers to the group of segments the company wishes to appeal to, design products for, and tailor its marketing activities toward.

Question 16

Network marketing refers to a centrally managed distribution system that serves a group of stores or other businesses.

Accepted Answer

A method of direct distribution is network marketing (also called multilevel marketing), in which individuals act as independent distributors for a manufacturer or private-label marketer.

Question 17

The price of goods is not influenced by the costs of production and distribution.

Accepted Answer

The price of goods depends to some extent on the costs of production and distribution.

Question 18

VALS,a psychographic segmentation scheme,divides consumers into eight psychological categories,including "I am driven" (motto: nothing ventured,nothing gained)and "I measure twice" (motto: an ounce of prevention).

Accepted Answer

MindBase, a psychographic segmentation scheme, divides consumers into eight psychological categories, including "I am driven" (motto: nothing ventured, nothing gained) and "I measure twice" (motto: an ounce of prevention).

Question 19

Market concentration reduces the number of geographic targets for an advertiser.

Accepted Answer

Market concentration reduces the number of geographic targets for an advertiser.

Question 20

A manufacturer of a popular brand of orange juice introduces lemonade under the same brand name.This is known as private labeling.

Accepted Answer

A company uses a family brand by marketing different products under the same umbrella name.

Quiz 6: Market Segmentation and the Marketing Mix

VALS,a psychographic classification system,assigns consumers to one of eight groups based on two dimensions: primary motivation and resources.

In terms of user status,discount users choose one brand exclusively.

Marketers can obtain lists of companies in particular NAICS divisions for direct mailings.

In volume segmentation,marketers rely on user-status variables to define consumers as light,medium,or heavy users of products.

Product concept refers to the way the marketer mixes and blends the 4 Ps to create the company's marketing strategy.

The product's package is a component of the promotion element of the marketing mix.

Psychographics enables marketers to view people as individuals with feelings and inclinations.

Differences between products that are readily apparent to the consumer are known as induced differences.

In addition to tangible benefits,customers are often motivated by symbolism-what the brand name means to them,to associates,or to some social reference group.

In the maturity stage of the product life cycle,prices tend to rise.

The process of market segmentation is a three-step process that begins with planning and ends with market identification.

Brand equity refers to the totality of what consumers,distributors,dealers,and competitors feel and think about a brand over an extended period of time.

When sales volume begins to rise rapidly,the product enters the maturity stage of the product life cycle.

Demographic segmentation is a way to define population groups by their statistical characteristics: sex,age,ethnicity,education,occupation,income,and other quantifiable factors.

The target market for a company manufacturing dolls is most likely to be young children.

Network marketing refers to a centrally managed distribution system that serves a group of stores or other businesses.

The price of goods is not influenced by the costs of production and distribution.

VALS,a psychographic segmentation scheme,divides consumers into eight psychological categories,including "I am driven" (motto: nothing ventured,nothing gained)and "I measure twice" (motto: an ounce of prevention).

Market concentration reduces the number of geographic targets for an advertiser.

A manufacturer of a popular brand of orange juice introduces lemonade under the same brand name.This is known as private labeling.