mktg chapter 9 quizzes

An urban area that includes two or more primary metropolitan statistical areas (PMSA) is called a _____.

CMSA

_____ are computer systems that help marketers analyze marketing information by assembling, storing, manipulating, and displaying data by their location.

GIS

"The Millennial Generation" is also known as _____.

Generation Next

The Fayetteville-Springdale-Rogers region of Arkansas has approximately 340,000 people. Fayetteville is an urban center and it alone has a population of 60,000. The Fayetteville-Springdale-Rogers region would be classified as a:

MSA

Developing a relevant user profile is the first step in the market segmentation process. How are segment profiles used to identify the typical customer in each segment?​

Segment profiles are used to describe similarities among members of a market segment, and to explain differences among members in separate market segments.

To remain competitive, marketers must accurately gauge their customers and adapt to changing consumer sentiment. Sometimes this adaptation calls for repositioning a product or service. Why might a product or service be repositioned?​

The company is aiming for a greater share of the current market.

AIO statements describe which of the following?

activities, interests, opinions

When a product is used in the production of another good that is destined for resale, the product is considered as a(n):

business product.

American Express, a large firm with many financial products, recently introduced two new credit cards designed for very specific markets: The Knot, for engaged couples, and The Nest, for newlyweds. This is an example of _____ marketing.

concentrated

Which of the following factors falls under the resource dimension of the VALS system?

eagerness to buy

Marketers applying a positioning strategy want to:

emphasize a product's unique advantages and differentiate it from competitors' options.

Compared to undifferentiated marketing, the firm that practices differentiated marketing may generally expect:

greater promotional costs.

The four basic determinants of a market-specific segmentation strategy include company resources, competitors' strategies, stage in the product lifecycle, and:

product homogenity

​Bill wants to use VALS to segment the market for his firm's costly but cutting-edge gaming software. He knows that his potential customers are likely to be:

innovators

​Cadillac has strategically sought to become known as a prestige brand among 30 to 50 year olds and routinely uses television advertising to showcase the high quality and luxury attributes of the new models. It seeks to use _______ to separate the brand from other US brands and be perceived more similarly to European models such as Audi and BMW.

positioning

A _____ is an urbanized county or set of counties with social and economic ties to nearby areas.

primary metropolitan statistical area

The latest ad of Crest toothpaste says "Crest is a cavity fighter." This is an example of a positioning strategy based on:

product application

Which of the following changes is seen as a result of a rise in households with only one person?

single serve meals

A present-day marketer is reviewing data attempting to differentiate a target group of consumers that meets the four basic requirements of effective segmentation. One group stands out above the rest, and he will direct his marketing efforts toward that group. Toward what group will he direct his marketing efforts?​

women

Income is a common demographic variable for segmenting the consumer market, and expenditure patterns vary with income. Engel's laws are three general statements based on Ernst Engel's statistical study of the impact of changes in household income on consumer spending behavior. These statements were valid over 100 years ago and with a few exceptions, still appear to be valid today. Choose the statement below that best summarizes Engel's laws.​

​As income increases: a smaller percentage is spent on food; the percentage spent on housing and clothing remains constant; the percentage spent on other items like recreation increases.