MKTG Unit Test. Test 4

customer relationship management

A marketing method that tracks interaction with customers to optimize customer satisfaction and long-term company profits is referred to as:

cannibalization

A potential disadvantage of multi-segment targeting is _______, which occurs when sales of a new product cut into sales of a firm's existing products.

market segment

A(n) _______ is a subgroup of individuals or organizations sharing one or more characteristics that cause them to have similar product needs.

No, they do not have the ability to purchase at this time.

A group of middle school students stop by a bicycle store. The store has just received a new shipment of high-end racing bicycles. The bicycles range in price from $1,200 to $3,000. All of the students want one of these new bikes, but none has the means to buy one. Is this group of consumers a potential market for the expensive bikes?

Responsiveness

A health club has a new fitness program for expectant mothers. After flyers were placed at the offices of area obstetricians, classes filled up within two days. Which segmentation success criterion was most influential in the success of this promotion?

market

A is a group of people or organizations that has wants and needs that can be satisfied by particular product categories, has the ability to purchase these products, and is willing to exchange resources for the products.

geographic

A manufacturer of blankets knows heavy 100 percent wool blankets sell better in the New England area where the winters are harsh and that lighter-weight blankets sell better in the Southeast market where mild winters require fewer and lighter covers for the bed. Segmenting the market according to climate is an example of ________ segmentation.

family life cycle.

A series of stages determined by a combination of age, marital status, and the presence or absence of children is known as the:

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.

target market

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

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.

substantiality

According to the criterion of ______, a selected segment must be large enough to warrant developing and maintaining a special marketing mix. Serving the specific needs of this segment must be commercially viable, even if the number of potential customers is small.

re-positioning

Changing consumers' perceptions of a brand in relation to competing brands is known as:

demographic

Coca-Cola launched a new Black History television commercial on BET to coincide with the Martin Luther King Jr. holiday. The ad is just one element of a strategy for connecting with African American consumers. CocaCola's segmentation plan for this promotional campaign is based on _______ segmentation.

demographic

Colgate manufactures a fruit-flavored SpongeBob Squarepants toothpaste for kids. The age-based variable that distinguishes the market for this product is an example of _______ segmentation.

position

Elaine perceives Cadillac automobiles to be for older men, not for young professional women such as herself. Elaine's perception represents Cadillac's _______ in her mind.

Family life cycle

Evenflo makes baby gates to keep toddlers away from stairs. What demographic segmentation variable will Evenflo use to identify its target market?

age

Fisher-Price developed a rugged, waterproof camera for children. This product uses _______ segmentation.

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.

multi-segment

When a firm serves two or more well-defined market segments with a distinct marketing mix for each, it is using a(n) _______ targeting strategy.

ethnic

In Miami, several radio stations broadcast in Spanish and play Latin music for the Hispanic people living in South Florida. The radio stations are using _______ segmentation.

demographic

Income, ethnic background, gender, and age are all examples of ________ segmentation bases.

family life cycle.

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

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.

Accessibility

Which criterion of useable market segments means the firm must be able to reach members of targeted segments with customized marketing mixes?

niche

One segment of a market is called a:

repositioning

The Southern Company is the largest provider of utilities in the southeastern United States. It has also been accused of being the biggest source of industrial air pollution in the area. Southern is trying to change consumers' perceptions of the company by sponsoring a series of television programs on how to preserve our environment. The Southern Company is hoping the programming will lead to:

emotion

The advertisements for Kay Jewelers usually show a man presenting a woman with a ring or necklace and receiving a kiss in return. The ad then shows the slogan "Every Kiss Begins with Kay." This is an example of _______ positioning.

is large enough to permit a profitable market effort toward its members

The marketing researcher for Bubastis Cat Treats has noticed a growing number of cat owners purchasing organic treats for their pets. The researcher thinks there is a market for organic cat treats, but she's not sure if the segment is substantial. In this case, substantiality means the segment:

80/20 principle

The proposes that a minority of a firm's customers purchase a majority of the volume of the product.

Un-differentiated targeting.

When Henry Ford made the Model T, he said that consumers "can have their car in any color they want, as long as it's 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?

Undifferentiated

Which target marketing strategy views the market as one big market with no individual segments and thus uses a single marketing mix?

Usage-rate segmentation

Which type of segmentation divides a market by the amount of product bought or consumed?

Lifestyle segmentation

_______ divides individuals into groups according to the way they spend their time, the importance of items in their surroundings, their beliefs, and socioeconomic characteristics.

Positioning

_______ is the development of a specific marketing mix to influence potential customers' overall perception of a brand, product line, or organization in general and is related to the place a product occupies in consumers' minds relative to competing offerings.

Psychographic

_______ segmentation is based on personality, motives, and lifestyles.

Segmentation bases

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

Geodemographic segmentation

________ is a method that clusters potential customers into neighborhood lifestyle categories and is a combination of geographic, demographic, and lifestyle segmentations.

Benefit segmentation

________ is the process of grouping customers into market segments according to the benefits sought from the product.