MKT 311 Chp 7
The group of American consumers born between 1979 and 1994 are often called ________.
Generation Y
Which of the following is the most accurate generalization of members of Generation Y?
Members of this generation are more difficult to reach through television advertising than members of older generations are.
Which of the following is the best example of the long tail approach to selling?
Nearly 20% of the videos delivered by Netflix are older or obscure titles from its vast collection of videos.
Which of the following statements about the steps in the target marketing process is true?
The final step in the target marketing process is positioning.
Markets can be segmented into group of nonusers, ex-users, potential users, heavy users, and moderate users of a product. This is an example of ________ segmentation.
behavioral
The 80/20 rule is most directly related to ________ segmentation.
behavioral
Generation Z
born after 1994
The management practice of ________ involves actively seeking people of different races, sexes, ethnic groups, and religions in an organization's employees, customers, suppliers, and distribution channel partners.
cultural diversity
Marketers must balance the ________ of mass marketing with the ________ of offering each individual customer exactly what he wants.
efficiency; effectiveness
content marketing
establishing thought leadership in the form of bylines, blogs, commenting videos, infographics, etc.
Phases of targeting
evaluate market segments, develop segment profiles, choose a target strategy
concentrated target strategy
focusing a firm's efforts on offering one or more products to a single segment
The supermarket sells boxes of pink diapers and blue diapers. This is an example of segmenting by ________.
gender
When Positive Image, Inc. caters to clothing and cosmetics markets, it most likely uses which type of segmentation?
gender
Companies can customize Web advertising by ________ so that people who log on in different places will see ad banners for local businesses.
geocoding
Few people can afford the best in everything they buy. At times everyone needs a product with less quality or performance with a correspondingly lower price. In this case a consumer would purchase a product positioned with a ________ strategy.
less-for-much-less
When Walmart customizes its merchandise store by store to meet shopper needs, it is practicing ________.
local marketing
Which of the following is the narrowest marketing strategy?
local marketing
People's diverse interests and backgrounds divide them into numerous groups with distinct needs and wants, a condition most accurately described as ________.
market fragmentation
long tail
new approach based on how companies can make money by selling small amounts of items that only a few people want
The division of buyers into groups based on lifestyle or personality characteristics is ________ segmentation.
psychographic
segment profile
typical customer
Developing a strong position within several segments creates more total sales than ________ marketing across all segments.
undifferentiated
When competitors use differentiated or concentrated marketing, ________ marketing can be disastrous.
undifferentiated
During tax season, you're likely to see more TurboTax ads on Google pages, even if you aren't searching for tax software. This is an example of ________ segmentation.
usage occassion
Shampoo marketers rate buyers as light, medium, or heavy product users. This is ________ segmentation.
usage rate
Markets can be segmented into groups of nonusers, ex-users, potential users, first-time users, and regular users of a product. This method of segmentation is called ________.
user status
The answer to the customer's question "Why should I buy your brand?" is found in the ________.
value proposition
Using concentrated marketing, the marketer goes after a ________ share of ________.
large; one or a few niches
80/20 rule
20% of purchasers account for 80% of a products sales
Which of the following is the most logical reason for P&G offering products that compete with one another on the same supermarket shelves?
Different people want different mixes of benefits from the products they buy.
mass customization
an approach that modifies a basic good or service to meet the needs of an individual
customized marketing strategy
an approach that tailors specific products and the messages about them to individual customers
positioning statement
an expression of a products positioning that is internally developed in order to support the development of marketing communication that articulates the specific value of a product
undifferentiated targeting strategy
appealing to a broad spectrum of people
Demographic variables are frequently used in market segmentation because they ________.
are easy to measure in comparison to many other methods
target marketing strategy
dividing markets into different segments, selecting segments, and developing products for them
geodemography
combines location with demos
According to the long tail approach to selling, ________.
companies can make money by selling small amounts of items that only a few people want
A company or store gains a(n) ________ by differentiating its products and delivering more value.
competitive advantage
Jay Bee Promotions tailors its advertising and promotional services to the needs and preferences of individual customers. Which of the following terms does NOT apply to this type of marketing?
concentrated
Which of the following is NOT one of the reasons a segment would be less attractive to a company?
concentrated market
buying power
concept in segmentation that can help marketers match products to customers
market fragmentation
creation of many consumer groups due to a diversity of distinct needs and wants in modern society
Pendergraff Pet Supplies divides the pet market according to the owners' race, occupation, income, and family life cycle. What type of segmentation does Pendergraff use?
demographic
positioning
developing a marketing strategy to influence how a particular market segment perceives a good or service in comparison to the competition
differentiated target strategy
developing one or more products for several distinct customer groups and making sure these offerings are kept separate in the market place
If men and women respond similarly to marketing efforts for computers, they do not constitute separate segments. In this sense, these segments are not _____.
differentiable
segmentation variables
dimensions that divide the total market into fairly homogeneous groups, each with different names and preferences
In target marketing, the issue of social responsibility is not really who is targeted, but rather ________ and for ________.
how; what
Which three primary consumer motivations are key to the VALS system?
ideals, achievement, and self-expression
micromarketing
identify and target very small geographic segments that sometimes amount to individuals
Marketers of automobiles, financial services, and travel are most likely to use which of the following types of segmentation?
income
P&G sells six brands of laundry detergent in the United States, each designed for one of six laundry segments P&G has identified. Together, these six brands take 62% of market share. Which of the following is a disadvantage of P&G's differentiated marketing strategy?
increased costs for separate marketing plans for each brand
ByWay Ventures chose a differentiated marketing strategy. The company had to weigh ________ against ________ when selecting this strategy.
increased sales, increased costs
What are the four steps, in order, to designing a customer-driven marketing strategy?
market segmentation, targeting, differentiation, and positioning
An organic farmer has identified three distinct groups who might be interested in his products: vegetarians, people who are concerned about chemicals in their foods, and people who consider themselves innovators and trendsetters. These three groups are examples of ________.
market segments
geographic segmentation
marketing based on wear people live (ex. southern food)
usage occasions
marketing when people will use a product most (ex peppermint ice cream in winter)
When the size, purchasing power, and profiles of a market segment can be determined, it possesses the requirement of being ________.
measurable
As You Like It, Inc. customizes its offers to each individual consumer. This practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as ________ marketing.
micro
retro brands
once popular brand that revives itself
There are several different sports watches for cyclists. When compared to its competitors, the Bike Nashbar watch is the least expensive. The Acumen Basic is the only one designed for older cyclists who prefer a larger display. Sports Instrument is the most comfortable of all the available watches. This describes the ________ of the three sports watches.
positions
usage rate
quantity purchased or frequency of use
repositioning
redoing a products position to respond to marketplace changes
Which positioning strategy offers consumers a "good deal" by offering equivalent-quality products or services at a lower price?
same-for-less
Which of the following is the process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics?
segmentation
What are the steps, in order, of the target marketing process?
segmentation, targeting, and positioning
