Ag Marketing Quiz 2
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?
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_____________.
differentiated marketing
Suppose a product has the characteristics of high involvement and few differences between products. A first-time user of that product might experience doubts about having made the right decision under those particular conditions. If so, which "buying behavior type" should the marketing professional be prepared to deal with?
dissonance reducing
Sanguine Services is a small company that practices a marketing strategy in which its limited resources are used to go after a large share of two small niches. Sanguine practices which one of these strategies?
concentrated marketing
___________ means that cunsumers are likely to remember good points made about a brand they favor and forget good points made about competing brands.
selective retention
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.
product position
Certain things that are marketed are intangible (hard to evaluate with the senses) and cannot be produced and stored in advance. Yet the principles of marketing can still be applied to them. What are these things?
services
________ is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations.
Micromarketing
Which of the following is true with regard to the same for less value proposition?
Offering the same for less can be a powerful value proposition because everyone likes a good deal.
With a(n) ________ marketing strategy, a firm goes after a large share of one or a few smaller niches.
concentrated
Which of the following is NOT part of the business market?
Maria Theresa shops for her family's groceries at the local Whole Foods store.
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.
age and life-cycle
Differences between business markets and consumer markets include__________.
all of the above
In the theory of the adoption of innovations, which is the second group to adopt a new product?
early adopters
Robert has taken up cycling as a hobby and as a way to maintain his physical fitness. He wants to buy a hydration system since he will need a lot of water as he cycles. Having gathered a great deal of information, he has finally narrowed down his choices to three systems: Waterbags for Roadies, Supertanker Hydropacks, and Fast Water. Robert is in the ________ stage of the buyer decision process.
evaluation of alternatives
All of the following are B2C Buying Roles except:
gatekeepers
If a company localizes its products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods. This is an example of______________.
geographic segmentation
Symbols such as the McDonald's golden arches, the colorful Google logo, the Nike swoosh, or Apple's "bite mark" logo provide strong company or brand recognition and are indicative of ________ differentiation.
image
Cameron loves to own and be up-to-date on the latest technological gadgets available in the market. Among his friends, he is always the first to own the latest electronic gadgets. He loves trying out new products before others. Cameron most likely belongs to the ________ adopter group.
innovator
Using ________ segmentation, marketers form segments of consumers who have similar needs and buying behaviors even though they are located in different countries.
intermarket
Pierre's Mart, a grocery store in New Orleans, Louisiana, offers less merchandise selection and fairly low levels of service. Despite the lackluster service and limited selection of merchandise, customers still flock to Pierre's because it charges rock-bottom prices. Pierre's Mart most likely uses the ________ positioning.
less for much less
A current trend in the United States involves rediscovering the benefits of home-cooked food and the use of organic ingredients. People are choosing to spend hours in the kitchen using only the freshest ingredients to cook healthy and nutritious meals. This change in ________ is one of the reasons for the increasing demand for organic ingredients.
lifestyle
Making more sales to current customers without changing a firm's products is known as__________.
market penetration
Which of the following marketing strategies is most suitable for smaller firms with limited resources?
niche marketing
In the theory of the adoption of innovations, which is the first group to adopt a new product?
none of the above
Tropicana promotes drinking orange juice at any time of day as a cool, refreshing drink. The market segmentation approach Tropicana is using is ________.
occasion segmentaion
________ shows consumer perceptions of a company's brands versus competing products on important buying dimensions.
perceptual positioning maps
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?
political
Through ________ differentiation, brands can be differentiated on features, performance, or style and design.
product
Which of the following marketing orientations holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?
the market concept
