Marketing Chapter 7 Warm-Up and Quiz
Which of the following statements regarding demographic segmentation is correct?
Consumer needs, wants, and usage rates vary closely with demographic variables
Which of the following statements about segmentation is true?
Different segments might require different marketing strategies or mixes
__________ segmentation divides buyers into different segments based on lifestyle or personality characteristics.
Psychographic
Fitbit makes health and fitness tracking devices. Some buyers want very basic fitness tracking such as steps taken and calories consumed. Others are focused on high performance and want heart rate and sleep monitoring, text notification, and wireless sync to their smart phone. In serving these two very different groups, Fitbit is using __________ segmentation.
benefits sought
Amazon and GEICO set themselves apart with their smooth-functioning direct delivery strategy referred to as __________ differentiation.
channel
When segmenting international markets, markets can be grouped according to language, religion, customs, and values. This type of segmentation is based on __________ factors.
cultural
If men and women respond similarly to the same marketing mix, they do not constitute distinct, identifiable segments. Gender would not be an effective base for segmentation in this example because the segments are not __________.
differentiable
Choosing a differentiated targeting strategy has many benefits, but a potential downside is that __________.
it can increase costs
The process of evaluating each market segment's attractiveness and selecting one or more market segments to enter is called __________.
market targeting
Which targeting strategy focuses on common consumer needs, as opposed to different needs?
mass marketing
The step in designing a customer value-driven marketing strategy in which a company divides a market into distinct groups of buyers is known as market __________.
segmentation
Market __________ evaluates each market segment's attractiveness and selects one or more segments to serve.
targeting
Using a(n) __________ marketing strategy, a firm might decide to ignore market segment differences.
undifferentiated
A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your colleague?
carefully consider the degree of competition and ease of entry into the segment
Which value proposition is the most difficult to sustain in the long run?
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