Question 1

A firm utilizing multisegment marketing is less vulnerable to competition.

Accepted Answer

TRUE

Question 2

Few companies tailor their offerings to meet the needs of different buyers around the world.

Accepted Answer

FALSE

Question 3

Selling the same product to everyone is known as undifferentiated marketing.

Accepted Answer

TRUE

Question 4

Technology is making it more difficult for small companies and entrepreneurs to gather information about potential customers.

Accepted Answer

FALSE

Question 5

Companies often find that finding and attracting new customers is more difficult than retaining customers.

Accepted Answer

TRUE

Question 6

A football team has decided to create a line of apparel geared towards women. The team is engaging in geographic segmentation.

Accepted Answer

FALSE

Question 7

Behavioral segmentation may answer the question, \"How do our customers use our products?\"

Accepted Answer

TRUE

Question 8

Psychographic segmentation is commonly utilized because relevant data is available for free at U.S. Census Bureau\'s Web site.

Accepted Answer

FALSE

Question 9

One of the most well-known psychographic surveys is VALS.

Accepted Answer

TRUE

Question 10

A market may be more attractive than others because it is growing.

Accepted Answer

TRUE

Question 11

Repositioning is an effort to \"move\" a product to a different place in the minds of consumers.

Accepted Answer

TRUE

Question 12

Positioning is especially important for those businesses facing a lot of competition.

Accepted Answer

TRUE

Question 13

Positioning can help answer the question, \"Why should buyers purchase your offering versus another?\"

Accepted Answer

TRUE

Question 14

Forming close, personal relationships with customers and giving them exactly what they want is known as _____.

Accepted Answer

One-to-one marketing

Question 15

Choosing select groups of people to sell to is called, _____.

Accepted Answer

Differentiated marketing

Question 16

Which of the following steps in one-to-one marketing involves determining who your best customers are in terms of what they spend and will spend in the future?

Accepted Answer

Differentiate among your customers

Question 17

Which of the following segmentation categories answers the question, \"How do my customers live their lives?\"

Accepted Answer

Psychographic

Question 18

A company that produces laundry detergent offers one product with stain removing action while another is made for energy efficient washing machines. The company has utilized a _____ strategy.

Accepted Answer

BENEFITS SEGMENTATION

Question 19

The generation that accounts for 50% of U.S. consumer spending is known as _____.

Accepted Answer

BABY BOOMERS

Question 20

Family life cycle refers to:

Accepted Answer

The stage families go through over time and how it affects people\'s buying behavior.

Question 21

Which of the following types of segmentation strategies utilize city size and population density?

Accepted Answer

Geographical segmentation

Question 22

Customizing advertisements over the public address system on the subway based on the upcoming stop/destination is utilizing ____.

Accepted Answer

Proximity marketing

Question 23

Which of the following refers to niche marketing?

Accepted Answer

Targeting an extremely select group of consumers.

Question 24

A small target market that purchases high-end goods can still be attractive to an expensive watch company because:

Accepted Answer

It\'s sizeable enough to be profitable given the operating costs.

Question 25

_____ is a new effort to isolate markets and \"super target\" them by gathering all kinds of data available.

Accepted Answer

Narrowcasting

Question 26

A(n) _____ is a catchphrase designed to sum up the essence of a product.

Accepted Answer

TAGLINE

Question 27

A _____ is a two-dimensional graph that visually shows where a product stands relative to competitors.

Accepted Answer

PERCEPTUAL MAP

Question 28

A _____ strategy can allow a firm to respond to demographic and other changes in the market.

Accepted Answer

multisegment marketing

Question 29

A benefit of utilizing a targeted marketing strategy is that a company may be able to:

Accepted Answer

Retain \"at risk\" customers in danger of defecting to a competitor.

Question 30

A concentrated marketing strategy can decrease a company\'s risk.

Accepted Answer

FALSE

Question 31

A market may be more attractive than others because it is already swamped with competitors, so it must be successful.

Accepted Answer

FALSE

Question 32

As companies do not want their products to be another \"face in the crowd\", marketer should be able to _____ their product.

Accepted Answer

POSITION

Question 33

Encouraging consumers to use your products for multiple purposes is a smart marketing strategy.

Accepted Answer

TRUE

Question 34

Firms appealing to a new target market should keep their current taglines, products, and marketing strategies in place because it is important to remain consistent in the minds of consumers.

Accepted Answer

FALSE

Question 35

Geodemographics combines geographic and demographic information for marketing purposes.

Accepted Answer

FALSE

Question 36

Google\'s AdSense and AdWords programs can be utilized by companies to aid in segmentation practices

Accepted Answer

TRUE

Question 37

Information pertaining to customers is entered into a CDB system.

Accepted Answer

FALSE

Question 38

Mass marketing is attractive because it is efficient, so it saves a firm from doing more work and spending more money.

Accepted Answer

TRUE

Question 39

Rachel has plotted all sub shops in Bethesda on a graph based on price and menu selection. Which of the following did she utilize?

Accepted Answer

PERCEPTUAL MAP

Question 40

Targeting a very select group of customers is known as

Accepted Answer

Concentrate marketing

Question 41

The sub-segment of the Hispanic market that is characterized as containing individuals who are English dominant, free thinkers, and multicultural is known as _____.

Accepted Answer

SYLrs

Question 42

To avoid head-on competition with other firms trying to capture the same customers, a firm may choose a ____ strategy.

Accepted Answer

Targeted marketing

Question 43

To firms, market segmentation means: meet my needs-give me what I want.

Accepted Answer

FALSE

Question 44

When Sally selected a group of upper income people living in Atlanta as her market, she was engaged in market segmentation.

Accepted Answer

FALSE

Question 45

When engaging in niche marketing, a company\'s goal is to be a small fish in a big pond.

Accepted Answer

FALSE

Question 46

Which of the following is a reason for a firm to use multiple segmentation bases?

Accepted Answer

To get a fuller picture of its customers and create real value for them

Question 47

Which of the following is the first step in one-to-one marketing?

Accepted Answer

Establish short-term measures to evaluate your efforts

Question 48

Which of the following types of marketing refers to selling the same product to all consumers?

Accepted Answer

Mass marketing

Question 49

_____ are characterized as being motivated by self-expression and tend to be young, enthusiastic, and compulsive consumers.

Accepted Answer

Experiencers

Question 50

_____ characteristics divides people and organizations into groups according to how they act toward products.

Accepted Answer

Behavioral

Question 51

_____ do not show a strong primary motivation.

Accepted Answer

Survivors

Question 52

_____ is how consumers perceive a product relative to the competition.

Accepted Answer

Positioning

Question 53

_____ refers to how much a customer will spend in the future.

Accepted Answer

Lifetime value

MKT 201 CH. 5 Market Segmenting, Targeting, and Positioning – Flashcards

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