Ch 7 quiz marketing quiz

Columbia Properties is in the business of building homes. It has acquired land large enough to make 10 large and 10 medium-sized homes in the suburbs of Portland, Oregon. Columbia Properties has also made the required arrangements with prospective investors for financial capital. However, the local authorities are not permitting Columbia Properties to build the large houses due to certain permit issues. In this case, Columbia Properties is unable to serve its customer segments because they are not

accessible.

Which of the following is a demographic variable used in segmentation?

age.

Marketers should follow three major steps to decide how to best position their product. The first step is to

analyze competitors' positions.

Business-to-business firms generally use three types of segmentation. What is one of them?

behavioral segmentation

A pen manufacturing company has designed a range of new pens by segmenting its consumers on the basis of gender and age. The strategy is has turned out to be ineffective for the company. From the information provided, it can be derived that the marketers have failed to make their segments

differentiable.

World Spice Salsa, a manufacturer of salsa, sells its product throughout the United States and all over the world. The company has developed region-specific salsas like Five Spice Salsa for its customers in China, saffron and cumin salsa for customers in India, and even red beans and rice salsa for its customers in New Orleans. World Spice Salsa has employed ________ segmentation in this case.

geographic

Stride Inc. is an athletic shoe-making company in the United States. It successfully sells the same range of shoes in all its international outlets and specifically targets young people. This is an example of

global segmentation.

Be Healthy, a vitamin manufacturer, has divided its huge consumer base into smaller groups based on age: children, adults, and the elderly. This is an example of

market segmentation.

Barat, the marketing manager at Teelock Inc., is in the process of market positioning. He has finished analyzing competitors' positions. What should he do next?

He should clearly define the firm's competitive advantage.

________ is the most commonly used psychographic segmentation tool that classifies adults into eight psychographic groups: Innovators, Thinkers, Believers, Achievers, Strivers, Experiencers, Makers, and Survivors.

The VALS framework

________ consists of a succinct description of the core target market to which a product is directed and a compelling picture of how the firm wants that core market to view the product.

A positioning statement

Which statement characterizes market segmentation?

It helps firms design specific marketing strategies suited for specific market segments.

As an international segmentation base, regional segmentation is used when a firm wants to

capitalize on the similarity in needs and wants extends across only the region.

A cereal manufacturer has different products for children and adults. It applies a different marketing strategy for each of these customer groups. Which segmentation base is the company using to divide its market in this case?

demographic

The term mass affluent is used to describe

households that have between $100,000 and $250,000 in investible assets.

Get-away Inc. is a vacation planning company. It provides various holiday packages, such as camping outdoors, adventure sports, island getaways, countryside wine tasting, cruises, and trekking, based on the vacation activities that its consumers prefer. Which of the following types of segmentation does this represent?

lifestyle

Uniquely, a successful lotion manufacturer, sells luxury lotions exclusively for women under the brands Uniquely Lavish, Uniquely Luxurious, and Uniquely Glorious. It has now added Uniquely Dignified to target a specialized segment of urban men who are particular about their grooming practices. The introduction of Uniquely Dignified represents

niche marketing.

In order for market segmentation to be effective, market segments must be large enough for a firm to make a profit by serving them. This means that segments must be

substantial.

SuperBrite is a brand of toothpaste. In its earlier campaign, SuperBrite was advertised as an effective whitening toothpaste. However, due to declining sales, its parent company has decided to rethink its marketing strategy. In its new campaign, SuperBrite is still portrayed as whitening toothpaste, but it also features a research study where other familiar brands in the market fail to make the grade. In this campaign, SuperBrite has tried to reposition

the competition.

A target market can best be defined as

the group of customers toward which an organization has decided to direct its marketing efforts.