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?

more for less