Strategic Marketing E1 Ch. 6 – Flashcards
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1) Sociologists look for defining events such as wars, major economic upheaval, and social cultural revolution to create __________
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Generational gous for segmentation purposes
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2) A marketing manager using PRIZM is interested in ____________ segmentation.
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Geodemographic
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3) There are many variables in demographic segmentation, but _____________is the most accurate statement about demographic segmentation.
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Income, education, and occupation are very closely correlated.
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4) Customer satisfaction is defined as ________________.
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The level of liking an individual harbors for an offering
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5) Segmenting means _________.
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Identifying the market into meaningful smaller markets based upon common characteristics
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6) Positioning is not what the company does to the product but what the company does to ______________________.
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The mind of the customer
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7) An advergame is a video game that _______.
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Has been specifically designed to promote a brand
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8) Target marketing is the process by which __________.
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The company evaluates segments and decides which ones have the most potential for development
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9) The concept of being able to get either secondary and/or primary data on a market being considered for segmentation means ______
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The market is readily identifiable and can be measured
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11) _______________ is the second element in the process cycle for CRM.
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Marketing planning
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12) Some companies, like insurance and credit card, would like to target recent high school graduates as a segment but find them hard to capture. This is an example of a market lacking one of the criteria for segmentation called _______.
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Reachable—the ability to reach the segment in terms of communication
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13) Having a product whose value proposition is a well kept secret ________.
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Is not a good thing in marketing
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14) Apple Cora Anderson was born in 2001. She is a member of __________.
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The Millennial generation or Generation Z
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15) Baby boomers represent a huge segment of the population. There is some evidence that they, in their own minds, do not think they age. This is an example of _______.
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Difference between chronological age and attitudinal age
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16) Among the generations used for segmentation, one stands out as the largest and most affluent of all the generations. This generation is known as ______.
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Baby boomer generation
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17) There are conditions necessary that a market needs to be able to segment properly. The item below that is not necessary is _______.
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Market has to be bigger than 10,000 people
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18) Geographic segmentation is a useful but ________
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Insufficient criterion in and of itself
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19) Generation X is often referred to as the ________.
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Baby bust generation
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20) Social class has declined as a method of segmentation as a result of ______.
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Readily available credit flattening the classes
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21) Customer loyalty is defined as ______________.
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The degree to which an individual will resist switching from one offering to another
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22) Positioning relies on the communication of one or more sources of value to customers in a way that the customer can easily make the connection between ________.
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The customer's needs and wants and what the product has to offer
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23) When a company tries to make the product or service significantly easier to obtain than the competition, it is employing ______.
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Convenience leadership
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25) ___________ would not be a good product for using gender segmentation.
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Toothpaste
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26) When it is said that a market can be reached, it means that _______
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the market can be reached by transportation, language, technology, communication
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27) Most Hispanics in the United States live in __________________.
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California
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28) At one time, specialized companies catered to markets segmented by race. Today ______.
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The segments have become targets of mainstream businesses that offer specialized products
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29) Garrett is moving into retirement and wants to cut his client base in half so he can work part time. In deciding which customers to keep, Garrett should look at the monetary prediction called _______________.
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Customer lifetime value
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30) Positioning strategy is a process that often starts with ______.
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Focus groups
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31) Every zip code in the United States falls into profiles provided by Nielsen's Claritas in its database called _________.
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PRIZM
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32) The razor is an example of a product that appeals to both men and women but reveals that ___________.
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There are different needs and wants for the same product category based on gender
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33) Income segmentation is a commonly used segmentation technique. It has some problems, however, such as ___________.
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It is difficult to collect quality marketing research on income due to people purposely misstating or refusing to reveal their income.
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34) Family life cycle segmentation factors include all but ____________.
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Income
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35) A personnel leadership position implies that a company ________.
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Has employees who are more talented than the competition
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36) ______________ have a minority majority population.
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Hawaii, District of Columbia, California, New Mexico, and Texas
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37) CRM stands for _________________.
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Customer relationship management
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38) Companies often try to draw the attributes necessary to position a firm. The process of drawing two attributes at a time to visualize the market is called ________.
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Perceptual mapping
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40) Ads with messages like "Orange juice—It's not just for breakfast anymore!" or "Soup can be a delicious way to start a cold winter's day" are using _______ segmentation.
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Usage
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41) Marketers use geographic segmentation because ____________________.
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Consumers respond differently to marketing strategies and programs based on where they live
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42) When Walter, the brand manager for a consumer packaged good, says that a segment has sufficient size, he means _________.
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The market has an expected return on investment that is positive
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43) Differentiation strategy implies that a company is able to compete on a basis that is ________.
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Unique and where customers are willing to pay a premium
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44) The sequential steps to successful segmentation are _________________.
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Segmenting, targeting, and positioning
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45) Demographic segmentation is one of the most popular segmentation approaches because _________.
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It is easy to measure the variables like age or income
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46) Demographic segmentation is best described as _______.
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Using characteristics of virtual communities to segment the market
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47) The ____________ race and ethnicity market segment is not growing at a fast rate.
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African American
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48) Offering credit cards to high school seniors is an example of ________ segmentation.
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Education
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49) The benefit sought method of segmentation focuses on ______.
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The different benefits consumers seek
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50) AIOs are one way to measure consumer variables using the psychographic segmentation approach. AIO stands for _______.
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Activities, interests, and opinions
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51) Social class as a segmentation tool takes into account _______.
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Income, Education, Occupation
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52) Most Asians in the United States live in __________________.
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California
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53) _______________ is the fourth element in the process cycle for CRM.
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Analysis and refinement
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54) Differentiation is a concept that means _______.
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Communicating and delivering value in different ways to different customer groups
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55) The region, the density of the population, and the size of the population are terms for techniques to use in ________.
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Geographic segmentation
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56) _______________ is the first element in the process cycle for CRM.
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Knowledge discovery
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57) Firms considering their positioning statements frequently use perceptual maps. The simplest of these maps rank the firm on ____________ dimensions.
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Two
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58) A marketing manager using VALS is interested in ____________ segmentation.
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Psychographic
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59) When Target sells winter coats, it sends them to stores at different times of the year. This is an example of _______.
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Climate segmentation
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60) The CRM process cycle may be divided into _____ elements.
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Four
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61) Age is a commonly used method of segmentation. Age alone, however, may be dangerous because _________.
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Lumping older or younger customers together in one group may not truly reflect the market
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62) Approaches to geographic segmentation include all except _____.
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Sensitivity of population
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63) _____________ are the largest minority group with a total population of ______.
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Hispanics, 50 million
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64) Serenity was born in 1970. Her parents met at the famous Woodstock music festival. She is a member of _____________.
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Generation X
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65) _______________ is the third element in the process cycle for CRM.
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Customer interaction
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66) _______ segmentation focuses on why people buy what they buy.
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Benefits sought
