MKT 311 Chp 7

The group of American consumers born between 1979 and 1994 are often called ________.

Generation Y

Which of the following is the most accurate generalization of members of Generation Y?

Members of this generation are more difficult to reach through television advertising than members of older generations are.

Which of the following is the best example of the long tail approach to selling?

Nearly 20% of the videos delivered by Netflix are older or obscure titles from its vast collection of videos.

Which of the following statements about the steps in the target marketing process is true?

The final step in the target marketing process is positioning.

Markets can be segmented into group of nonusers, ex-users, potential users, heavy users, and moderate users of a product. This is an example of ________ segmentation.

behavioral

The 80/20 rule is most directly related to ________ segmentation.

behavioral

Generation Z

born after 1994

The management practice of ________ involves actively seeking people of different races, sexes, ethnic groups, and religions in an organization's employees, customers, suppliers, and distribution channel partners.

cultural diversity

Marketers must balance the ________ of mass marketing with the ________ of offering each individual customer exactly what he wants.

efficiency; effectiveness

content marketing

establishing thought leadership in the form of bylines, blogs, commenting videos, infographics, etc.

Phases of targeting

evaluate market segments, develop segment profiles, choose a target strategy

concentrated target strategy

focusing a firm's efforts on offering one or more products to a single segment

The supermarket sells boxes of pink diapers and blue diapers. This is an example of segmenting by ________.

gender

When Positive Image, Inc. caters to clothing and cosmetics markets, it most likely uses which type of segmentation?

gender

Companies can customize Web advertising by ________ so that people who log on in different places will see ad banners for local businesses.

geocoding

Few people can afford the best in everything they buy. At times everyone needs a product with less quality or performance with a correspondingly lower price. In this case a consumer would purchase a product positioned with a ________ strategy.

less-for-much-less

When Walmart customizes its merchandise store by store to meet shopper needs, it is practicing ________.

local marketing

Which of the following is the narrowest marketing strategy?

local marketing

People's diverse interests and backgrounds divide them into numerous groups with distinct needs and wants, a condition most accurately described as ________.

market fragmentation

long tail

new approach based on how companies can make money by selling small amounts of items that only a few people want

The division of buyers into groups based on lifestyle or personality characteristics is ________ segmentation.

psychographic

segment profile

typical customer

Developing a strong position within several segments creates more total sales than ________ marketing across all segments.

undifferentiated

When competitors use differentiated or concentrated marketing, ________ marketing can be disastrous.

undifferentiated

During tax season, you're likely to see more TurboTax ads on Google pages, even if you aren't searching for tax software. This is an example of ________ segmentation.

usage occassion

Shampoo marketers rate buyers as light, medium, or heavy product users. This is ________ segmentation.

usage rate

Markets can be segmented into groups of nonusers, ex-users, potential users, first-time users, and regular users of a product. This method of segmentation is called ________.

user status

The answer to the customer's question "Why should I buy your brand?" is found in the ________.

value proposition

Using concentrated marketing, the marketer goes after a ________ share of ________.

large; one or a few niches

80/20 rule

20% of purchasers account for 80% of a products sales

Which of the following is the most logical reason for P&G offering products that compete with one another on the same supermarket shelves?

Different people want different mixes of benefits from the products they buy.

mass customization

an approach that modifies a basic good or service to meet the needs of an individual

customized marketing strategy

an approach that tailors specific products and the messages about them to individual customers

positioning statement

an expression of a products positioning that is internally developed in order to support the development of marketing communication that articulates the specific value of a product

undifferentiated targeting strategy

appealing to a broad spectrum of people

Demographic variables are frequently used in market segmentation because they ________.

are easy to measure in comparison to many other methods

target marketing strategy

dividing markets into different segments, selecting segments, and developing products for them

geodemography

combines location with demos

According to the long tail approach to selling, ________.

companies can make money by selling small amounts of items that only a few people want

A company or store gains a(n) ________ by differentiating its products and delivering more value.

competitive advantage

Jay Bee Promotions tailors its advertising and promotional services to the needs and preferences of individual customers. Which of the following terms does NOT apply to this type of marketing?

concentrated

Which of the following is NOT one of the reasons a segment would be less attractive to a company?

concentrated market

buying power

concept in segmentation that can help marketers match products to customers

market fragmentation

creation of many consumer groups due to a diversity of distinct needs and wants in modern society

Pendergraff Pet Supplies divides the pet market according to the owners' race, occupation, income, and family life cycle. What type of segmentation does Pendergraff use?

demographic

positioning

developing a marketing strategy to influence how a particular market segment perceives a good or service in comparison to the competition

differentiated target strategy

developing one or more products for several distinct customer groups and making sure these offerings are kept separate in the market place

If men and women respond similarly to marketing efforts for computers, they do not constitute separate segments. In this sense, these segments are not _____.

differentiable

segmentation variables

dimensions that divide the total market into fairly homogeneous groups, each with different names and preferences

In target marketing, the issue of social responsibility is not really who is targeted, but rather ________ and for ________.

how; what

Which three primary consumer motivations are key to the VALS system?

ideals, achievement, and self-expression

micromarketing

identify and target very small geographic segments that sometimes amount to individuals

Marketers of automobiles, financial services, and travel are most likely to use which of the following types of segmentation?

income

P&G sells six brands of laundry detergent in the United States, each designed for one of six laundry segments P&G has identified. Together, these six brands take 62% of market share. Which of the following is a disadvantage of P&G's differentiated marketing strategy?

increased costs for separate marketing plans for each brand

ByWay Ventures chose a differentiated marketing strategy. The company had to weigh ________ against ________ when selecting this strategy.

increased sales, increased costs

What are the four steps, in order, to designing a customer-driven marketing strategy?

market segmentation, targeting, differentiation, and positioning

An organic farmer has identified three distinct groups who might be interested in his products: vegetarians, people who are concerned about chemicals in their foods, and people who consider themselves innovators and trendsetters. These three groups are examples of ________.

market segments

geographic segmentation

marketing based on wear people live (ex. southern food)

usage occasions

marketing when people will use a product most (ex peppermint ice cream in winter)

When the size, purchasing power, and profiles of a market segment can be determined, it possesses the requirement of being ________.

measurable

As You Like It, Inc. customizes its offers to each individual consumer. This practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as ________ marketing.

micro

retro brands

once popular brand that revives itself

There are several different sports watches for cyclists. When compared to its competitors, the Bike Nashbar watch is the least expensive. The Acumen Basic is the only one designed for older cyclists who prefer a larger display. Sports Instrument is the most comfortable of all the available watches. This describes the ________ of the three sports watches.

positions

usage rate

quantity purchased or frequency of use

repositioning

redoing a products position to respond to marketplace changes

Which positioning strategy offers consumers a "good deal" by offering equivalent-quality products or services at a lower price?

same-for-less

Which of the following is the process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics?

segmentation

What are the steps, in order, of the target marketing process?

segmentation, targeting, and positioning