MKGT300 - Ch.7 Quiz

Bailey's Burgers promotes the Bailey's Jumbo Burger as a fun snack for teens and young adults. In this instance, Bailey's Burgers is practicing ________ segmentation. Answers: geographic gender psychographic age and life-cycle benefit

age and life-cycle

Consumers who show their allegiance to brands, stores, or companies help marketers to segment consumers by their ________. Answers: benefit-seeking attitudes income degree of loyalty user status geographic location

degree of loyalty

A catalog retailer in the United States has identified African American professionals between the ages of 35 and 45 as a group of potential customers for its products. The retailer plans to direct its marketing efforts toward this group of consumers. Which of the following market segmentation variables did the catalog retailer most likely use? Answers: user status usage rate demographic loyalty status psychographic

demographic

Anchor Tractors focuses on selling its farm equipment in North America and Europe. It has not yet considered expanding into the Middle East. Which factor is likely most important in this decision regarding expansion? Answers: geographic personality cultural political demographic

geographic

A ________ refers to the way a product is defined by consumers on important attributes-the place the product occupies in consumers' minds relative to competing products. Answers: core competency product position value stream product specification value proposition

product position

An American cola-manufacturing company that primarily targets rebellious and adventurous people most likely uses ________ segmentation. Answers: occasion psychographic income geographic benefit

psychographic- dividing a market into different segments based on lifestyle or personality characteristics

Different soft drinks target different personalities. This is an example of ________ segmentation. Answers: life-cycle psychographic demographic benefits occasion

psychographic- dividing a market into different segments based on lifestyle or personality characteristics

Business information services such as Personicx Lifestage and Nielsen help marketers to ________. Answers: expand their product offerings to interested clients and provide high-quality service to them save significant amounts of money on shipping products learn more specific details from consumers about their products segment people and locations into marketable groups of like-minded consumers spend more time identifying potential customer

segment people and locations into marketable groups of like-minded consumers

A recent study conducted by Estelle Cosmetics Company showed that heavy users of Estelle's products comprise a small percentage of the market. The study indicated that less than 7 percent of all shoppers buy nearly 71 percent of Estelle's products in the United States. This is an example of ________. Answers: psychographic segmentation occasion segmentation benefit segmentation segmentation by usage rate segmentation by loyalty status

segmentation by usage rate

A segment is less attractive if it ________. Answers: is actionable contains weak suppliers already contains many strong and aggressive competitors is difficult for new entrants to enter is substantial

already contains many strong and aggressive competitors

Calypso Motors recently rolled out its Proteus hatchback. Proteus combines the attractiveness of a luxury car with the excellent agility of a sports car. Calypso Motors is confident that Proteus will appeal to both sports car enthusiasts as well as the luxury segment. Which of the following types of market segmentation is evident here? Answers: benefit segmentation geographic segmentation income segmentation age and life-cycle segmentation gender segmentation

benefit segmentation

Companies know they cannot appeal to all buyers in the marketplace, or at least not in the same way. Reasons for this include all of the following EXCEPT ________. Answers: buyers are widely scattered companies vary widely in their abilities to serve different market segments buyers are too numerous buyers are varied in their needs and buying practices companies need more information to offer the right products to the right customers

companies need more information to offer the right products to the right customers

Delta Motorworks markets its cars based on the age, gender, and income of its customers. Which of the following types of market segmentation is evident here? Answers: occasion segmentation geographic segmentation psychographic segmentation demographic segmentation benefit segmentation

demographic segmentation

A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each is known as ________. Answers: mass marketing individual marketing differentiated marketing cross-marketing concentrated marketing

differentiated marketing

GamaPix makes point-and-shoot cameras and handycams for amateur photographers and hobbyists. It also has a separate line of cameras dedicated to professional photographers. Additionally, it designs separate offers for each segment. Which of the following marketing strategies does GamaPix most likely use in this instance? Answers: local marketing individual marketing direct marketing differentiated marketing mass marketing

differentiated marketing- a market-coverage strategy in which a firm targets several market segments and designs separate offers for each

Double Drill Inc. segments its foreign markets by per capita income. This firm segments the international markets based on ________. Answers: political factors economic factors geographic location legal factors cultural factors

economic factors

Dunkin' has partnered with traffic navigation app Waze to allow drivers to find the nearest Dunkin' outlet. This practice is an example of________. Answers: demographic segmentation community-based marketing artificial intelligence psychographic segmentation hyperlocal social marketing

hyperlocal social marketing

Even when competing offers look the same, buyers may perceive a difference based on ________ differentiation. Answers: services people price channel image

image

A public relations firm tailors its advertising and promotional services according to the needs and preferences of specific customers. This exemplifies ________. Answers: trigger-based marketing individual marketing segmented marketing mass marketing concentrated marketing

individual marketing

Andrew Levitt runs a retail store in Norristown. Andrew's store stocks cold weather products as Norristown mostly has sub-zero temperatures. Which of the following is evident here? Answers: direct marketing local marketing segmented marketing concentrated marketing mass marketing

local marketing

Ferrari sports cars claim superior quality, performance, and style. Ferrari provides "perfection" at a premium price to keep its brand image intact. Which type of value proposition does Ferrari most likely position its products with? Answers: less for much less the same for less more for the same more for less more for more

more for more

An Irish company that manufactures umbrellas and ponchos primarily targeting consumers during the winter months is using ________ segmentation. Answers: geographic psychographic income benefit occasion

occasion

Business marketers use geographic, demographic, benefit, user status, usage rate, and loyalty status to segment their markets. They also use ________, customer operating characteristics, purchasing approaches, and situational factors. Answers: budgets and financial status weather patterns personal characteristics psychographics ethical traits

personal characteristics

"To busy multitaskers who need help remembering things, Evernote is a digital content management application that makes it easy to capture and remember moments and ideas from your everyday life using your computer, phone, tablet, and the Web." This is an example of a(n) ________. Answers: order-routine specification positioning statement statement of purpose product specification vision statement

positioning statement

Apex describes its clothing line as, "Elegance and attitude, now as one. For the daily office-goer, who takes pride in what he or she wears everyday, Apex makes sure you get noticed." This exemplifies a ________. Answers: general need description statement of purpose product specification vision statement positioning statement

positioning statement

All of the following are ways a company can differentiate itself or its product EXCEPT ________. Answers: price channels people image services

price

Chronos Inc. designs and markets different brands of cycling watches. Each brand has a single unique feature: the Chronos Cosmos has a heart rate monitor, the Chronos Acumen is designed for older cyclists who prefer a large display, and the Chronos Aegis has a GPS function. Which of the following is evident here? Answers: image differentiation product differentiation service differentiation channel differentiation people differentiation

product differentiation- brands can be differentiated on features, performance, or style and design

A company selling child-care products ran a television ad depicting women as being primarily responsible for childcare. Many women viewers considered this regressive, alleging that the ad failed to recognize the much more diversified role of women in today's world. This is an example of ________. Answers: niche marketing stereotyping scapegoating cause marketing positioning

stereotyping

A market segment that is large enough or profitable enough to serve is ________. Answers: differentiable profitable accessible substantial measurable

substantial measurable- the size, purchasing power, and profiles of the segments can be measured accessible- market segments can be effectively reached and served substantial- market segment that is large enough or profitable enough to serve differentiable- segments are conceptually distinguishable and respond differently to different marketing mix elements actionable- effective programs can be designed for attracting and serving the segments

A ________ consists of a set of buyers who share common needs or characteristics that the company decides to serve. Answers: customer franchise citizen-action group target market marketing channel distribution channel

target market