MKTG mini test 6 – Flashcards

In Marketing in the News, we heard about TVision, a research company that measures:

In class, we looked at the strategy that the Gap, Inc. uses to satisfy consumers' needs, wants, and desires. Which of their brands target consumers who are interested in classic "great fashion at great prices?"

In class, we looked at Spyder, a company that specializes in paintball sports equipment. What target market strategy has Spyder selected?

In class, we considered a variety of positioning errors that companies can make. Which of these involves failing to position the brand very well.

It is common to hold potluck meals during holidays or special events. Participants bring casseroles, vegetables, breads, beverages, and desserts to share. It is easy to forget to take the bowl that you brought to the dinner home with you. Reynolds responded to this problem by creating PotLux cookware, attractive and inexpensive disposable dishes for transporting food. Reynolds has recognized how to use __________ segmentation to segment its market.

Information technology refers to

During its market segmentation process for the Nike LeBron X basketball shoe, which sells for $200+ a pair, Nike decided to concentrate on affluent teens rather than members of high school basketball teams. This is an example of

Procter & Gamble (P&G) decided to skip a generation of consumers when it began to market Old Spice deodorant. The target market consists of men aged 18 to 34 years old (Generation Y) who don't remember the Old Spice brand sold to their grandfathers (pre baby boomer) many years ago. P&G is using which type of segmentation variable?

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as

In class, we saw part of the video "The Merchants of Cool." They did research to solve a particular problem. Based on their results, what did they call their target audience?

According to class, which "traditional" target market strategy involves selecting one segment within the total market and using one marketing mix to target that defined group of consumers?

In Marketing in the News, we heard that brands may be missing the links between consumers' purchases. For example, consumers who are looking to buy large appliances for their homes are 8 times more likely than the average consumer to also:

In class, we noted that the Gap, Inc. operates several brands in order to make it easy for people to express their personal style. Their brands include the Gap, Banana Republic, Old Navy, and Piperlime. What approach to segmentation is the Gap, Inc. using?

"For upscale American families who desire a carefree driving experience, Volvo is a premium-priced automobile that offers the utmost in safety and dependability" is a __________ statement for Volvo in North America.

Which of the following statements demonstrate the formation of a segment based on household size?

In evaluating whether its Facebook and Twitter social media programs are working well, Carmex considered using various marketing metrics. One metric it chose was __________, which quantifies the number of Carmex mentions on the Internet as a percentage of all mentions of major lip balm brands.

In the Apple market-product grid shown above for its personal computer line, the "iMac" is popular among all the segments Apple can target. This allows Apple to enjoy __________.

At a Hallmark store you can find several different product lines of greeting cards, likely including Fresh Ink, Nature's Sketchbook, Shoebox, Maxine, Mahogany, and Tree of Life cards—all made by Hallmark for sale in its stores and intended to appeal to different target markets. The Mahogany line is designed to appeal to African-Americans. This is an example of __________ segmentation.

Airlines have developed frequent-flier programs to encourage passengers to use the same airline repeatedly. This marketing strategy is based on

In class, we hear from Dan Muller as he discussed segmentation at Timken. Which of the following was not one of the industries that they were targeting?

In Marketing in the News, we heard that Stouffer's brand is generating buzz using consumers/influencers by:

Based on the lecture, a marketer might use the information gained from an analysis of Claritas/PRIZM data:

MyTwinn makes dolls that look like young girls. For $119, the firm will make a doll that looks just like a photograph. So, if you send in the money and a photo of your young niece, she could have a doll that is her twin! This is an example of

A basic test of the usefulness of the market segmentation process is whether it leads to tangible marketing actions that can

__________ involves operating computer networks that can store and process data to extract hidden information from large databases such as households' product purchases, TV viewing behavior, and responses to coupon or free-sample promotions.

The aggregation of prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marketing action is referred to as __________.

The company name Zappos was chosen because it

Zappos' original target market customers consisted of people who wanted all of the following EXCEPT:

In class, we looked at various "traditional" target market strategies. Which strategy uses a single marketing strategy in an attempt to appeal to "everyone?"

According to lecture, which "traditional" target market strategy offers the advantage of lower costs (through long production runs and minimal inventory costs)?

In class, we talked about Hewlett Packard's success. We noted that HP has been successful by finding ____________________ and targeting them with appropriate products and services!

Selling a product to a different market segment usually requires a different marketing action that in turn means greater costs. If increased revenues don't offset extra costs of this action, a marketer should __________.

A test market for a new Kellogg's cereal is an example of

Figure 9-9 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus. Marketing synergies and efficiencies run __________ because a single kind of marketing action can reach customers that buy different product groupings.

Kellogg's has several cereals targeted at different types of users. This is an example of multiple products aimed at multiple markets. Manufacturing these different cereals is clearly more expensive than producing one, but seems worthwhile if it adds to the manufacturer's sales revenues and profits, serves customers' needs better, and

The Walt Disney Company carefully markets two distinct Winnie-the-Poohs; one is the original line-drawn figures on fine china sold at Nordstrom and the other is a cartoon-like Pooh on polyester bed sheets sold at Target. This is an example of

Evaluating the results of a marketing decision involves

In class, we heard about the segmentation approach used by Bayer Consumer Products. We learned that Bayer has actually targeted two segments WITHIN the Aspirin market. These segments are:

In class, we thought about what people want on their vacations. One group of consumers has pets that they want to take with them on vacation. They want to have their pets stay with them in their hotel room. What do we call this group of consumers?

Which of the following statements about market segmentation for organizational markets is MOST ACCURATE?

A market-product grid is a framework to relate the market segments of potential buyers to

Todd Harris and Associates, a New York sales promotion agency, discovered from an analysis of its files that one-quarter (or 25 percent) of its clients generated more than three-quarters (or 75 percent) of its fees and commissions. This is an example of what classic concept?

As an owner of a Wendy's fast-food restaurant, the information in Figure 9-6 above suggests

In class, we saw part of the video "The Merchants of Cool." What type of data collection technique did we see them use?

When considering the quick-service restaurant competition, it will be most important for Wendy's to consider not only the offerings of Burger King, McDonald's, Five Guys Burgers, and other hamburger chains but also the

The extraction of hidden predictive information from large databases to find statistical links between consumer purchasing patterns and marketing actions is referred to as

A disadvantage of a __________ is that the marketing research firm needs to recruit new members continually to replace those who drop out.

A method of presenting and analyzing data involving two or more variables to discover relationships in the data is referred to as

Magazines like Fitness, Field & Stream, Golf Digest, and Health focus on how people live their lives, and thus all use a __________ segmentation strategy.

In evaluating whether its Facebook and Twitter social media programs are working well, Carmex considered using various marketing metrics. One metric it chose was __________, which provides the percentages the percentage of Internet Carmex share of voice mentions that are positive, neutral, or negative.

In class, we noted several guidelines for selecting a target market. Which of the following was NOT one of those guidelines?

In class, we looked at a variety of possible positioning platforms that you might use for your brand. Which of the following is NOT a positioning platform that we thought about?

In class, we considered a variety of positioning errors that companies can make. Which of these involves claiming two or more contradicting benefits?

In class, we heard about the segmentation approach used by Bayer Consumer Products. From what we heard, how many major consumer care segments does Bayer have?

A market-product grid is a framework to relate the __________ to products offered or potential marketing actions by an organization.

Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as

All of the following are downsides to data mining EXCEPT:

Which of the following is NOT a reason to segment a market?

ChoiceShirts is an online company that makes made-to-order T-shirts. Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch. This is an example of

Market segmentation helps business firms to respond more effectively to the wants of groups of potential buyers in order to

In Marketing in the News, we heard about the company TVision, which collects data for advertisers, agencies and television networks. From what we heard, what TVision data is of most interest to advertisers?

In Marketing in the News, we heard about TVision, a research company that measures:

In class, we looked at the case of Best Buy, where 20% of their customers generate a significant amount of profits by purchasing high margin items without bothering to use rebates. According to the lecture, what type of segmentation base is this?

The first step in segmenting and targeting markets that links customer needs to marketing actions is to

According Figure 9-5 above, heavy users are the most important segment to a fast-food restaurant because

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

All of the following are examples of increased customer value from organizational synergy EXCEPT:

Alamo, a car rental firm, targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year. Alamo likely segments its market by

In class, we heard from Dan Muller as he discussed segmentation at Timken. He noted that after doing an initial segmentation, they move on to "mico-segmentation." Which of the following was NOT one of the "mico segmentation" variables he mentioned?

In class, we thought about vacationing and found that many in the class wanted a restful vacation, while others want an activity filled vacation, and a few people wanted a vacation where they could take their pet. The students in our class appear to group together and to have different wants and preferences when it comes to vacations. This is a good example of:

In class, we looked at the case of Best Buy, where 20% of their customers generate a significant amount of profits by purchasing high margin items without bothering to use rebates. According to the lecture, what did Best Buy call these consumers?

A market-product grid relates the market segments to the products offered or potential marketing actions. With respect to pillows, the most effective way to segment the pillow market would be based on __________.

In conducting marketing research on Facebook, Carmex is considering using a marketing metric that measures how active its Facebook audience is with Carmex, such as when consumers post a comment on the Carmex wall or reply to one of the Carmex posts. This metric is called Carmex

By dividing its tennis racquet market into three categories, which it labels Performance, Recreational, and Junior tennis players, Prince Sports is using a marketing strategy called

A key to positioning a product or brand effectively is discovering the perceptions of its potential customers. In determining its positioning in the minds of customers, companies take four steps: (1) identify the important attributes for the product or brand class; (2) discover how target customers rate competing products or brands with respect to these attributes; (3) ___________; and (4) reposition the company's product or brand in the minds of potential customers.

In class, we talked about an example of Hewlett Packard and their position as a world leader in printers. We noted that they provide solutions for which segment?

In class, we looked at two ads for Crest spinning toothbrush. One focused on the benefits of visiting a dentist twice a year and of having a "dentist-clean feeling" twice a day by using their spinning toothbrush. The other ad, for a very similar product, used a popular cartoon character, Dora, to advertise the Kid's SpinBrush. This is a good example of targeting based on:

In class we heard about Sensodyne toothpaste, which uses a name, flavor, and ads that helped to:

Behavioral segmentation encompasses

Evergreen Air Center in Marana, Arizona, is the world's biggest parking lot for unwanted commercial aircraft. Airlines pay from $750 to $5,000 a month for its storage service. The warm, dry air where the operation is located serves as a cheap and effective airplane preservative. Which organizational segmentation variable might Evergreen use to segment the market?

A market-product grid refers to

A market-product grid is a framework to relate

Linear trend extrapolation is a form of trend extrapolation in which

The process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization's marketing program.

In class we discussed the jeans market in the context of segmentation strategies. Which brand most likely targets those who want "the best' in high fashion and who are not concerned about the price tag?

All of the following are criteria used for forming market segments EXCEPT:

Segmentation based on some observable actions or attitudes by prospective customers, such as what benefits they seek, as well as where, how frequently, and why they buy, is referred to as

Five general criteria are often used to select target segments. They include: (1) the size of the market; (2) expected growth of the market; (3) competitive position of the firm with respect to the market; (4) cost of reaching the segment; and __________.