MKTG 350: Ch. 4 - Test #2

B. actionable

A clothing retailer realizes that its customers desire the latest clothing designs and accordingly maintains selection. Which criteria for evaluating retail segments is seen in this example? A. identifiable B. actionable C. market size D. accessible E. flexible

B. demographic segmentation

A cruise ship service specializing in entertaining young adults would most likely be using ________________ as the segmentation method to attract business. A. a multi-attribute model B. demographic segmentation C. benefit segmentation D. geographic segmentation E. psychographic segmentation

D. extended problem solving

A purchase decision process in which customers devote considerable time and effort for analyzing alternatives is called A. attribution B. consumerism C. limited problem solving D. extended problem solving E. habitual decision making

B. substantiality

A retailer in Lincoln, Nebraska, who wants to open a store that will sell surfboards and surfing accessories finds that they local market is very small. He would be able to serve a national market better by means of internet marketing. Which factor for evaluating a market segment is seen in the given scenario? A. actionability B. substantiality C. identifiability D. competition E. reachability

D. stimulation

A retailer that sells designer clothes and accessories has a pop-up ad on Facebook that features their new collection. Which method for satisfying customers' hedonic needs has been used? A. status and power B. adventure C. consideration set D. stimulation E. conversion rate

E. is attempting to limit the customer information search to the retailer's offering

A retailer that uses an everyday low pricing (EDLP) strategy select one: A. focuses more on economy rather than assortments B. uses the multiattribute attitude model for fixing product prices C. creates low prices through the use of sales promotions D. relies on discount coupons to persuade customers to return to their stores E. is attempting to limit the customer information search to the retailer's offering

B. utilitarian needs

After many years of doing his laundry at a public laundromat, Brett was glad to move into an apartment with washer and dryer hookups. He planned to buy a washer and dryer to save time and money. Which of the following needs would the purchase satisfy? A. motivational needs B. utilitarian needs C. social needs D. psychological needs E. physiological needs

B. need recognition

After using her same car for 17 years, Tracey's mechanic told her that it would cost more to fix the transmission than what the car was worth. She decided it was time for a new car. In which stage of the buying process is Tracey involved? A. product selection B. need recognition C. information search D. product purchase E. product examination

A. benefit segmentation

All ' Essentials' stores stock Comfort, a private-label brand. Comfort provides relaxed, fashionable, and ready-to-wear clothing clothing that is more economical than similar clothing in other department stores. Essentials is looking at a market in which consumers are looking for similar advantages such as cost and comfort. Therefore, Essentials can use __________________ as the scheme to segment its market. A. benefit segmentation B. geographic segmentation C. composite segmentation D. geodemographic segmentation E. demographic segmentation

E. geodemographic segmentation.

Ashley's is a clothing retailer. It recently launched a new range of cotton and linen clothing aimed at women in the Middle East countries. Light fabrics are preferred in these countries owing to the hot climate. The segmentation approach used by Ashley's is: A. lifestyle segmentation. B. geographic segmentation. C. demographic segmentation. D. psychographic segmentation. E. geodemographic segmentation.

E. status and power

Catherine enjoys relaxing while getting a manicure and pedicure at the Mystique Resort and Spa. She enjoys the attention and respect given to her by the staff. Hence, Catherine's hedonic needs are satisfied by a sense of _____________ at the spa. A. motivation B. deliberation C. adventure D. stimulation E. status and power

D. retail market segment

Catherine's is a chain of retail stores having merchandise assortments for women over size 14. Women who meet this criterion form a A. subculture B. consideration set C. reference group D. retail market segment E. demographic set

E. external information

Consumer reports, a nonprofit organization that evaluates products, would serve as a source of ____________- as it provides Lewis with useful knowledge about available features, convenience of use, and machine quality of various table saws. A. rational information B. selective data C. motivational data D. primary data E. external information

A. when they haven't developed brand loyalty

Consumers engage in habitual decision making for all the following except A. when they haven't developed brand loyalty B. when they are loyal to a store C. for merchandise they have purchased in the past D. when they use little or no conscious effort to make their decision E. for purchases that aren't important to the consumers

A. the percentage of customers who enter a store and buy products from the same store

Conversion rate can be described as: A. the percentage of customers who enter a store and buy products from the same store B. the percentage of customers buying both premium and budget products C. the retailer's score when evaluated on the basis of attributes D. the time pressure under which the purchase must be made E. the percentage of customers buying only premium products

E. reference group

Diego began his first job out of college with a consulting firm. He wanted to make a good impression on his supervisors. He noticed the attire of the associates when he attended the interview and decided to dress in a similar manner. Which social factor has influenced Diego's dressing style? A. subculture B. consideration set C. culture D. peer group E. reference group

E. brand loyalty

Every morning, Peter goes to one of the nearby connivence stores and buys a carton of Levin's chocolate milk for breakfast. When the store is out of Levin's, Peter goes without milk rather than buying other popular brands of chocolate milk.. Therefore, Peter has a high A. retailer loyalty B. conversion rate C. extended decision-making capacity D. impulse buying tendency E. brand loyalty

A. internal information

Gabriella needs copper wire to make hanging candle lanterns out of antique glass canisters. Based on her previous craft projects, she feels she would find this particular type of wire at Michael's, a large arts and crafts store. Gabriella is relying on a(n) ____________ source for her buying situation. A. internal information B. selective data C. motivational data D. rational information E. primary data

C. impulse buying

Geraldo went to the supermarket to buy a bottle of chocolate syrup. While there, he saw the latest copy of National Enquirer at the checkout stand. He had not planned on buying the magazine, but on the spur on the moment he bought himself a copy. This decision by Geraldo is an example of A. convenience buying B. habitual solution C. impulse buying D. expected behavior E. extended problem solving

C. lifestyle segmentation

Harley-Davidson stores sell merchandise that attracts people who love motorcycles and the idea of an open road and freedom. Some are bikers and others are those who do not have a Harley-Davidson motorcycle but buy the HD logo apparel and accessories. Therefore, Harley-Davidson is using _______________- as the scheme for market segmentation. A. geographic segmentation B. benefit segmentation C. lifestyle segmentation D. composite segmentation E. demographic segmentation

E. the customer's age, education, and income levels

In order to develop a multiattribute attitude model of its customers, a retailer should gather information about all the following except: A. the alternative retailers that customers consider B. the benefits that customers consider when making their retailer choices C. customers' belief ratings of each retailer's performance on the characteristics when selecting a store D. the importance weights that customers attach to the features they consider when choosing a retailer E. the customer's age, education, and income levels

C. utilitarian needs

Parents shopping for their children's school uniforms and stationery are motivated by ____________-, which involve accomplishing a specific task. A. cultural requirements B. hedonic needs C. utilitarian needs D. emotional needs E. impulse buying desires

D. reachable

Resorts that specialize in massage and aromatherapy look to target health-conscious people. Hence, they place advertisements in health and fitness magazines. Which criterion for evaluating a market segment is seen in the example? A. substantial B. identifiable C. actionable D. reachable E. profitable

D. using prominent point-of-purchase displays

Retailers encourage impulse-buying behavior by A. encouraging cross-shopping B. concentrating on composite segmentation C. improving their performance on all benefits D. using prominent point-of-purchase displays E. readily providing information for making purchase decisions

A. satisfy customers' hedonic needs

Retailers use stimulation to A. satisfy customers' hedonic needs B. enable extended problem solving C. segment the market based on lifestyles D. promote cross-shopping E. satisfy customers' utilitarian needs

C. buying situation segmentation

Stacy's is a popular convenience store. It notices that most of its customers visit the store during the week to shop for products such as milk and fruit. Therefore, it maintains sufficient stock of these products. Which of the following segmentation methods is the store using? A. psychographic segmentation B. demographic segmentation C. buying situation segmentation D. personality segmentation E. geographic segmentation

A. retail market segment

The Tackle Box is a store that sells anything you may need to catch fish, including local information about what is running, where it's running, and what bait works best. The fishing enthusiasts who rely on the Tackle Box for reliable equipment and information constitute the retailer's A. retail market segment B. consideration set C. demographic set D. psychosocial segment E. media set

A. predict how a customer will evaluate a store based on its attributes and how important these attributes are to the customer.

The multiattribute attitude model is designed to A. predict how a customer will evaluate a store based on its attributes and how important these attributes are to the customer. B. forecast inventory needs based on a multiple regression model C. shorten the buying process by highlighting the attributes that will most likely affect the buying behavior of the targeted market D. stratify the target market by examining customers' attributes and determine the store's or products position in the market E. modify preexisting attitudes by providing customers with a list of benefits (attributes) for shopping at a particular store or buying a particular product

A. cross-shopping

The pattern of buying both premium and low-priced merchandise or patronizing both status-oriented retailers and price-oriented retailers is called A. cross-shopping B. cocooning C. comparison shopping D. cross-retailing E. retailer loyalty

A. demographic segmentation

The retail market segments for licensed World Wrestling Entertainment shirts, jackets, and hats are 6- to - 17- year old boys, 18 to 24 year old women, and 18 to 44 year old men. This segmentation scheme based on age groups is called A. demographic segmentation B. geographic segmentation C. cultural segmentation D. lifestyle segmentation E. psychographic segmentaiton

C. habitual decision making

What kind of consumer decision-making process is most closely associated with retailer loyalty? A. extended problem solving B. impulsive problem solving C. habitual decision making D. contemplation E. limited problem solving

E. habitual decision making

When a customer has brand loyalty for a specific brand of hot dogs, each purchase decision to buy that brand would be an example of A. contemplation B. attribution C. extended problem solving D. limited problem solving E. habitual decision making

E. hedonic needs

When consumers go shopping for pleasure, they are seeking to satisfy their A. impulse buying desires B. emotional needs C. utilitarian needs D. cultural requirements E. hedonic needs

A. utilitarian needs

When customers go shopping to accomplish a specific task, they are seeking to satisfy A. utilitarian needs B. emotional needs C. impulse buying desires D. cultural requirements E. hedonic needs

B. offering specific brands

When serving brand loyal customers, which of the following factors is most important for a retailer? A. offering suitable alternatives B. offering specific brands C. encouraging cross-shopping D. offering only national brands E. offering only private-label brands

D. past shopping experiences

Which of the following is an internal source of product information for a customer? A. product demonstrations B. website C. blogs D. past shopping experiences E. search engines

D. family lifecycle

Which of the following is not a criterion used to evaluate whether a retail segment is a viable target market? A. size B. actionability C. accessibility D. family lifecycle E. reachability

B. segmentation

Which of the following is not a stage in the buying process? A. evaluation B. segmentation C. making a selection D. Need recognition E. searching for information

D. consideration set

Which of the following is used by a customer when making a choice of a retailer to patronize? A. conversion rate B. habitual decision making C. multi attribute attitude model D. consideration set E. lifestyle segmentation

A. geographic segmentation

Which of the following segmentation methods would be most appropriate for a retailer selling beach apparel? A. geographic segmentation B. personality segmentation C. demographic segmentation D. buying situation segmentation E. benefit segmentation

C. lifestyle segmentation

Which of the following segmentation methods would be most appropriate for a retailer selling fishing tackle and bait? A. personality segmentation B. buying situation segmentation C. lifestyle segmentation D. demographic segmentation E. benefit segmentation

A. information search

Which of the following steps follows the recognition of a need? A. information search B. composite segmentation C. evaluation of consideration sets D. post purchase evaluation E. evaluation of alternatives

C. Impulse buying

While waiting in the checkout line as Essentials, Autumn spotted a nail care kit displayed among the candy and batteries. She liked it and asked the cashier to add it to her bill. Which form of limited problem solving did Autumn engage in? A. Psychological problem solvig B. Contemplation C. Impulse buying D. Planned purchasing E. Cross-shopping

C. satisfaction

_____________- is a post consumption evaluation of how well a store or product meets or exceeds customer expectations. A. analysis B. attribution C. satisfaction D. consideration set E. contemplation

A. culture

______________ forms the basis of the social factors influencing people's buying decisions. A. culture B. religion C. brand loyalty D. status E. segmentation

B. identifiable

______________ means that the retailer is able to determine which customers are in the market segment A. substantial B. identifiable C. actionable D. reachable E. sustainable

B. lifestyle

______________ refers to the way people live, how they spend their time and money, and what activities they pursue. A. demographics B. lifestyle C. market segmentation D. target marketing E. marketing mix

C. composite segmentation

_______________ is the segmentation method that uses multiple variables to identify customers in the target segment according to their benefits sought, lifestyles. and demographics. A. multiattribute model B. buying situation segmentation C. composite segmentation D. hedonic need identification E. trickle-down approach

B. limited problem solving

________________ is a purchase decision process involving a moderate amount of effort and time. A. extended problem solving B. limited problem solving C. psychological problem solving D. Habitual decision making E. Utilitarian shopping

A. geodemographic segmentation

________________ is the segmentation scheme which is based on the principle that "birds of a feather flock together." A. geodemographic segmentation B. benefit segmentation C. composite segmentation D. psychographic segmentation E. buying situation segmentation