MKTG Test 3 T/F
T/F Because Cruise Ships International currently had limited financial and personnel resources, it should avoid concentrated or niche marketing until resources are again substantial.
FALSE
T/F Demographic segmentation uses different marketing approaches for different time periods of people's lives and different family situations
FALSE
T/F Mass marketing is becoming the marketing principle for the 21st century.
FALSE
T/F Your company wants to move away from mass marketing and engage in customer-driven marketing. The four steps to take, in order, are market segmentation, marketing positioning, differentiation, and targeting.
FALSE
T/F Shopping For The Rich and Famous is buying service that helps wealthy clients find the best buys in exclusive clothing, high-end cars, travel, and financial services. This firm would use income segmentation.
TRUE
T/F When a company chooses a target marketing strategy, its choices are influenced by factors related to company resources, the degree of product variability, and the product's life cycle stage
TRUE
T/F Bombay Gifts divides its markets into units of nations, regions, and cities. Bombay uses geographic segmentation.
TRUE
T/F Developing a stronger position within several segments creates more total sales than undifferentiated marketing across all segments
TRUE
T/F In evaluating different market segments, a firm must look at 3 factors: segment size and growth, segment structural attractiveness, and company objectives and resources
TRUE
T/F Your assignment at work is to divide buyers into different groups based on social class, lifestyle, and personality characteristics. After a planning session with the marketing and sales staff, you issue a memo to upper management recommending psychographic segmentation. You are right on target.
TRUE
T/F Today, most companies have moved away from mass marketing and are being choosier about the customers with whom they wish to build relationships.
TRUE
T/F A market rarely exists for products that offer less and therefore cost less
FALSE
T/F A product's position is the way the product is defined by the retailers who sell it to target markets. It is how it is defined on important attributes- the place the product occupies in the retailers' minds relative to competing products
FALSE
T/F Consumers position products in their minds in order to simplify the buying process.
TRUE
T/F User status segmentation involves finding the major advantages or features people look for in the product class, the kinds of people who look for each advantage or feature, and the major brands that deliver each advantage or feature.
FALSE
T/F When Kia offers a new model of car with the same features as a comparable Toyota or Ford and provides a longer warranty, Kia is following a more for less strategy.
FALSE
T/F Because there is such variation among the economies of countries around the world, it is not practical to segment international markets on the basis of economic factors.
FALSE
T/F Business and consumer marketers use the same set of variables to segment their markets.
FALSE
T/F For simplicity's sake, most marketers generally limit their segmentation analysis to one or a few variables.
FALSE
T/F LaGrange Florists segments markets into groups of nonusers, ex users, potential users, first time users, and regular users of its flowers and services. This firm uses usage rate as the segmentation approach.
FALSE
T/F Research about and planning for loyalty status as a segmentation approach is generally not useful or practical for most firms.
FALSE
T/F The majority of US based companies have developed the resources and the will to operate in multiple foreign countries
FALSE
T/F At a recent marketing seminar, the featured speaker stated that a target market consists of a set of buyers who share common needs or characteristics that the company decided to serve. This is a correct definition.
TRUE
T/F Clusters of marketable groups of customers with similar likes, dislikes, lifestyles, and purchase behaviors can be identified by multivariable segmentation systems that merge and analyze geographic, demographic, lifestyle, and behavioral data.
TRUE
T/F For market segments to be useful they must be measureable, accessible, substantial, differentiable, and actionable.
TRUE
T/F Gender segmentation has long been used in clothing, cosmetics, toiletries, and magazines
TRUE
T/F Most marketing targeted at children, minorities, or other special segments provides benefits to targeted consumers
TRUE
T/F Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger companies
TRUE
T/F There are many expectations to the geographic segmentation assumption that consumers in nations close to one another will have many common behaviors and traits.
TRUE
T/F Through the use of mass marketing has been widespread in the past 100 years, for centuries consumers were served as individuals as businesses practiced individual marketing.
TRUE