Unit 2 Marketing

Geographic segmentation

___is the segmenting of markets based on the region of the country or the world, market size, market density (number of people within a certain unit of land), or climate.

Concentrated Targeting

. A(n) _____ strategy entails selecting one segment of a market to target, and focuses on understanding the needs, motives, and satisfactions of the members of that segment, as well as on developing a highly specialized marketing mix

Benefit

. Karry-Lite, the manufacturer of lightweight suitcases with wheels, uses as its slogan, "Takes the 'lug' out of luggage." This slogan illustrates the use of _____ segmentation.

Nonprobability

A ______ sample is any sample in which little or no attempt is made to obtain a representative cross section of the population.

Needs and wants and an ability and willingness to buy

A market is people or organizations that have:

Target Market

A(n) ____ is a group of people or organizations for whom an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting is mutually satisfying exchanges.

Compiled

A(n) _____ list generally includes names and addresses gleaned from directories or membership rosters.

Extensive Decision Making

Alanna is looking into purchasing a scooter as gas prices continue to rise. She needs a reasonably-priced, comfortable, and safe scooter with room to store her books. She is not familiar with these products and this is a major purchase for her. Purchasing a scooter will probably involve

Benefits

All of the following are bases for psychographic segmentation EXCEPT:

Family

All of the following are individual factors influencing consumer buying decisions EXCEPT:

Value

An enduring belief that a specific mode of conduct is personally preferable to an alternative mode of conduct is called a(n):

Cognitive Dissonance

Andrea just purchased a trip to Jamaica as a present to her husband for their tenth wedding anniversary. Andrea is anxious about the trip, afraid Bill will not like her choice of location and worried she spent too much money. Andrea is experiencing:

Is useful for lifestyle distinctions between groups

As a marketing tool in the United States, social class:

Customer-centric

Best Buy instituted a system in all of its stores that customizes their product offerings for the five key customer segments it has identified: affluent professional males, young entertainment enthusiasts, upscale suburban moms, families who are practical technology adopters, and small businesses with less than 20 employees. This focus implies that Best Buy is:

Demographic

Colgate manufacturers a fruit-flavored SpongeBob Squarepants toothpaste for kids. The age-based variable that distinguishes the market for this product is an example of a(n) _____ segmentation.

Customs

Danny and Ron are coworkers in an office. When they have a conversation about work, they stand about 2-3 feet from each other as they chat. The amount of personal space people expect to have when interacting with a coworker is an example of which cultural component?

Data warehouse

Delta Airlines has a system that captures information on everything from flight schedules, seat inventories, and customer profiles that is accessible by 35 departments and 1,300 employees. Delta's system is an example of a(n):

Safety Needs

Dennis Haysbert stars in Allstate ads reminding consumers that they could be in a car crash or another event requiring insurance. Hence the slogan "You are in Good Hands with All State." These ads focus on which of Maslow's needs?

Routine response behavior

Each week Jess comes to the supermarket with a list of essential items: milk, bread, peanut butter, and chocolate. This is an example of:

Selective Distortion

Families of police officers often alter information they hear about officers who die in the line of duty. This ____ allows them to live and function without constraint anxiety while their loved one is engaged in a potentially dangerous job.

Product Differentiation

For years, fryer chickens sold in grocery stores were perceived to be a rather generic product—one brand of chicken was much like another. Then Frank Perdue began an advertising campaign to tell consumers his brand of chicken was tenderer and a better choice. Perdue brought ____ to the marketing of fryer chickens.

Market Segmentation

Ford Motor Company produces passenger cars, commercial trucks and specialty vehicles, performance vehicles, and race cars. Ford uses a procedure called _____ to divide its large market.

Gender

H&M plans to open a new store in Saudi Arabia. It will be staffed completely by women. Saudi Arabia has strict laws about women interacting with men other than their husbands so only women will be permitted to shop there. Which type of demographic segmentation is H&M using?

Primary

Information collected for the first time for the purpose of solving a particular problem under investigation is called ____ data.

Family Life Cycle

Jane graduated from high school in 1978, is married, and has two teenaged children. Most of Jane's friends from high school have children who have already graduated from college, gotten married, and some with grandchildren. Jane and her former classmates are at different stages of the:

Descriptive, diagnostic, and predictive

Marketing research has three functional roles. These roles are

One-to-one marketing

Mirage Resorts in Las Vegas has a system that allows hotel clerks instantaneous access to a client's gambling history to determine what sort of room or complimentary services will provide the guests with the highest level of service. The resort is practicing:

Usage-Rate

Most airline frequent flyer programs reward the most frequent flyers with business class upgrades and flight lounge privileges. Airlines are using these rewards as a means of implementing ____ segmentation.

Observational Research

Mystery shoppers engage in a form of:

People who influence others

Opinion leaders are:

Stimulus Discrimination

Rayshawn's favorite soft drink is Coca-Cola. If he orders a Coke at a restaurant and is told that the restaurant serves only Pepsi products, he will often just order water rather than order a Pepsi. He insists that he can tell the difference between the two brands. Which learning concept is Rayshawn demonstrating?

Marketing Research

The owner of a small chain of local coffeehouses could use ____ to determine why customers do not seem to like her coffeehouse's new location.

Need recognition, information search, evaluation of alternatives, purchase, and postpurchase behavior

The steps of the consumer decision-making process in order are:

Frequently purchased, low-cost items

The types of products people purchase using only an internal search are typically:

Activities, interests, and opinions

To analyze consumer lifestyles, marketers look at consumers':

Cross-selling

Using customer database information to offer related products to customers is called:

Undifferentiated targeting

When Henry Ford first made the Model T, he said consumers "can have any color they want as long as it is black." This was a case of _____.

Perceptual Mapping

Which of the following is a means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customers' minds?

Executive Interviews

Which of the following is a type of survey that involves interviewing businesspeople at their offices concerning individual products or services?

Stimulus

Which of the following is any unit of input affecting one or more of the fice senses: sight, smell, taste, touch, and hearing?

"Birds of a feather flock together"

Which of the following statements best describes the reason marketers find geodemographic segmentation so effective?

Recency-frequency-monetary analysis (RFM)

Which of the following techniques used to analyze marketing databases considers whether a customer has made a purchase recently as well as how often that customer makes a purchase?

An open-ended question

Which type of interview question encourages an answer phrased in the respondent's own words?

Rifle

While many catalog retailers send out a standard catalog to all potential customers, Land's End uses information it has gathered about customers in its CRM system to target the catalog to the individual. This approach used by Land's End is an example of the _____ approach

Segmentation Bases

_____ are characteristics of individuals, groups, or organizations that marketers use to divide a total market into segments.

Customer Relationship Management (CRM)

_____ is a company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer segments.

The family Life cycle

_____ is an orderly series of stages in which consumers' attitudes and behavioral tendencies change through maturity, experience, and changing income and status.

Psychographics

_____ is the analytical technique used to examine consumer lifestyles and to categorize consumers.

Knowledge Management

_____ is the process by which learned information from customers is centralized and shared in order to enhance the relationship between customers and the organization.

Cross-Tabulations

_____ permit the analyst to relate the responses to one question to the responses to one or more other questions when assessing marketing research data.