14 Aug 81. Research has shown that income is a highly accurate predictor of the best cu

81. Research
has shown that income is a highly accurate predictor of the best customers
for a given product.

82. If
you went to college in the late 1960s, you are most
likely to be in a cohort shaped by the Viet Nam War.

83. The largest American generation
of the twentieth century (78 million people) is considered to be the GI
Generation that fought in World War
II.

84. A sixty
year-old man is coping with his advancing hair loss; therefore, he is dealing
with what is called physiographics.

85. Psychographics
is the science of using psychology
and demographics to better
understand consumers.

86.
Generation Xis considered to be a hot market
because of their size, consumer savvy, and their ability to be wired-in to
contemporary trends.

87. Forty-seven percent of 21-year-olds own a
mobile phone.

88. In the VALS segmentation system, Thinkers are characterized as being
successful, sophisticated, active, take-charge people with high self-esteem.

89. According to the VALS segmentation system, the Strivers are at bottom of the typology
with the lowest resources and lowest with respect to innovation.

90. When Mobil
Oil Company researched its market
based on benefit expectations, it found that the largest segment (Price Shoppers) with a 27 percent share wanted fast fuel, branded
products, and convenience.

91. An organization that could
benefit from using User Status as a means for segmenting its market would be a
local blood bank.

92. Marketers would rather attract
one heavy user than several light users.

93. With respect to loyalty status, if
a consumer is loyal to two or three brands, he or she is called shifting loyal.

94. The most important variable in segmenting a business market is
demographics.

95. Typical categories that would
appear under the heading of situational factor segmentation variables in the
business marketplace would be urgency, specific application, and size of order.

96. The last step in the seven-step marketing
segmentation process would be to develop a marketing-mix strategy
reflective of segment positioning strategies.

97. To be
useful, market segments must have as one of their characteristics the ability
to be measured.

98. As a pattern
found in target market selection, market
specialization means that the company
offers one product to as many markets as possible.

99. If a
marketer is blocked from entering a market, the strategy of megamarketing can
be used to assist in breaking into that market.

100. Market
partitioning is process of focusing on a desired position in the
marketplace and then accumulating the resources to protect and defend that
position.

Essay

101.
Market segments can be defined
in many different ways. One way to carve up a market is to identify preference segments. List and briefly
characterize three preference segments cited in the text.

102.
Columbia Universitys Bernd Schmitt
believes that marketers can provide experiences for customers through a set of
experience providers. List and briefly discuss the seven experience providers
recommended by Schmitt.

103. A new
trend in marketing is toward customerization. Describe what customerization is
and how marketers are using it.

104. There are several major segmentation
variables that might be used by a marketer to address a consumer market. If the
marketer were to use social class, psychographic
lifestyle, and readiness stage to segment its market, identify possible
segmentation subcategories under each of the three. For example, if we were to segment based on usage rate,
subcategories would be light user, medium user, and heavy user.

105. Briefly
profile the American generations labeled as Baby boomers, Generation X,
Generation Y, and Millennials.

106. Marketing to Generation Y is a challenge
because of their size and characteristics. Because they are often turned off by
overt branding practices and a hard sell, marketers have tried many different
approaches to reach and persuade Gen Y. The text mentions seven methods for
accomplishing this task. List and
briefly discuss four of those methods.

.

107. The
VALS segmentation system has evolved into an 8-part typology. List and briefly
describe any four categories of that 8-part typology.

108. If a
marketer were to segment a business market on the basis of demographics, what three subcategory segmentation
variables would probably be used to assist with this form of segmentation? What
questions would be asked in each of the three categories to advance the
segmentation effort?

109. To be
useful, market segments must rate favorably on five key criteria. What are
those criteria?

110.
The text describes five possible patterns for target market selection.
Describe the pattern called selective
specialization.

APPLICATION
QUESTIONS

Multiple
Choice

111. According
one expert from J. Walter Thompsons
Mature Marketing Group, everyone over 45 is lumped
into a category called old. However,
the expert points out that this strategy is faulty. Seniors, particularly boomers-turned-seniors, often make buying
decisions based on ________.
a.
price, not quality
b.lifestyle, not age
c.
age perception
d.
what their children buy
e.
dreams, not realities

112. When
Coca-Cola sold only one kind of Coke in a 6.5-ounce bottle, it was practicing
what is called ________.
a.
primary marketing
b. micromarketing
c.
macromarketing
d.
segmented marketing
e.
mass marketing

113. The marketer ________ the segments; the
marketers task is to identify the segments and decide which one(s) to target.
a.
plans
b.
creates
c.
does not create
d.
rarely controls
e.
controls

114. Anderson
and Narus have urged marketers to present flexible market offerings to all
members of a segment. A flexible market offering consists of two parts. Which
of those parts contains the product and service elements that all segment
members value?
a.
Naked solution
b.
Discretionary solution
c.
Maximum solution
d.
Pseudo solution
e.
Virtual solution

115. Enterprise Rent-A-Car has challenged Hertzs supremacy in the
rental car market by tailoring its marketing program to a relatively neglected
target market. Which of the following would be the most
accurate description of that market?
a. The singles market.
b. The soccer mom
market.
c. The business traveler market.
d. The low-budget,
insurance-replacement market.
e. The vacationer market.

116. The recipe for Internet
niching success is to ________.
a.
find a need and fill it
b.
choose a hard-to-find product
that customers do not need to see and touch
c.
choose a low-budget product
that is heavily demanded by Gen Y
d.
choose an exclusive product
sold primarily to seniors
e.
find a product that has some
attraction to a health-conscious market

117. One marketing commentator said, The idea is not to sell
something, but to demonstrate how a
brand can enrich a customers life.
Which of the following forms of marketing was the commentator
describing?
a. Experiential marketing
b. Niche marketing
c. Benefit marketing
d. Viral marketing
e. Virtual marketing

118. If you were a marketing
manager that was considering implementing
the concept of customer experience management (CEM), you would follow all of
the following steps EXCEPT ________.

a. analyzing the experiential world of the customer
b. building the experiential platform
c. designing the segmentation
portfolio
d. structuring the customer interface
e. engaging in continuous innovation

119. Home furnishing retailer
Bed Bath & Beyonds ability to cater to local tastes has fueled its
phenomenal growth. Bed Bath & Beyonds managers pick ________ of their own
merchandise, and this local focus has helped the chain evolve from one that
began selling little more than bed
linens to the beyond partproducts ranging from picture frames and pot
holders to imported olive oil and
designer door mats.
a. 40 percent
b. 50 percent
c. 25 percent
d. 70 percent
e. 90 percent

120. If a marketing researcher
saw such names (categories) Blue Blood
Estates, Winners Circle, Hometown Retired, or Shotguns and Pickupswhen doing segmentation research, the
marketing researcher would most
likely be dealing with ________ clusters.
a.PRIZM
b.geodemographic

c.psychographic
d. demographic
e.VALS81. Research
has shown that income is a highly accurate predictor of the best customers
for a given product. 82. If
you went to college in the late 1960s, you are most
likely to be in a cohort shaped by the Viet Nam War. 83. The largest American generation
of the twentieth century (78 million people) is considered to be the GI
Generation that fought in World War
II. 84. A sixty
year-old man is coping with his advancing hair loss; therefore, he is dealing
with what is called physiographics. 85. Psychographics
is the science of using psychology
and demographics to better
understand consumers. 86.
Generation Xis considered to be a hot market
because of their size, consumer savvy, and their ability to be wired-in to
contemporary trends.87. Forty-seven percent of 21-year-olds own a
mobile phone. 88. In the VALS segmentation system, Thinkers are characterized as being
successful, sophisticated, active, take-charge people with high self-esteem. 89. According to the VALS segmentation system, the Strivers are at bottom of the typology
with the lowest resources and lowest with respect to innovation. 90. When Mobil
Oil Company researched its market
based on benefit expectations, it found that the largest segment (Price Shoppers) with a 27 percent share wanted fast fuel, branded
products, and convenience. 91. An organization that could
benefit from using User Status as a means for segmenting its market would be a
local blood bank. 92. Marketers would rather attract
one heavy user than several light users. 93. With respect to loyalty status, if
a consumer is loyal to two or three brands, he or she is called shifting loyal. 94. The most important variable in segmenting a business market is
demographics. 95. Typical categories that would
appear under the heading of situational factor segmentation variables in the
business marketplace would be urgency, specific application, and size of order.
96. The last step in the seven-step marketing
segmentation process would be to develop a marketing-mix strategy
reflective of segment positioning strategies. 97. To be
useful, market segments must have as one of their characteristics the ability
to be measured. 98. As a pattern
found in target market selection, market
specialization means that the company
offers one product to as many markets as possible. 99. If a
marketer is blocked from entering a market, the strategy of megamarketing can
be used to assist in breaking into that market. 100. Market
partitioning is process of focusing on a desired position in the
marketplace and then accumulating the resources to protect and defend that
position. 101.
Market segments can be defined
in many different ways. One way to carve up a market is to identify preference segments. List and briefly
characterize three preference segments cited in the text. 102.
Columbia Universitys Bernd Schmitt
believes that marketers can provide experiences for customers through a set of
experience providers. List and briefly discuss the seven experience providers
recommended by Schmitt. 103. A new
trend in marketing is toward customerization. Describe what customerization is
and how marketers are using it. 104. There are several major segmentation
variables that might be used by a marketer to address a consumer market. If the
marketer were to use social class, psychographic
lifestyle, and readiness stage to segment its market, identify possible
segmentation subcategories under each of the three. For example, if we were to segment based on usage rate,
subcategories would be light user, medium user, and heavy user. 105. Briefly
profile the American generations labeled as Baby boomers, Generation X,
Generation Y, and Millennials. 106. Marketing to Generation Y is a challenge
because of their size and characteristics. Because they are often turned off by
overt branding practices and a hard sell, marketers have tried many different
approaches to reach and persuade Gen Y. The text mentions seven methods for
accomplishing this task. List and
briefly discuss four of those methods. . 107. The
VALS segmentation system has evolved into an 8-part typology. List and briefly
describe any four categories of that 8-part typology. 108. If a
marketer were to segment a business market on the basis of demographics, what three subcategory segmentation
variables would probably be used to assist with this form of segmentation? What
questions would be asked in each of the three categories to advance the
segmentation effort? 109. To be
useful, market segments must rate favorably on five key criteria. What are
those criteria? 110.
The text describes five possible patterns for target market selection.
Describe the pattern called selective
specialization. APPLICATION
QUESTIONSMultiple
Choice111. According
one expert from J. Walter Thompsons
Mature Marketing Group, everyone over 45 is lumped
into a category called old. However,
the expert points out that this strategy is faulty. Seniors, particularly boomers-turned-seniors, often make buying
decisions based on ________. a.
price, not qualityb.lifestyle, not agec.
age perceptiond.
what their children buye.
dreams, not realities 112. When
Coca-Cola sold only one kind of Coke in a 6.5-ounce bottle, it was practicing
what is called ________. a.
primary marketingb. micromarketingc.
macromarketingd.
segmented marketing e.
mass marketing 113. The marketer ________ the segments; the
marketers task is to identify the segments and decide which one(s) to target. a.
plansb.
createsc.
does not created.
rarely controlse.
controls114. Anderson
and Narus have urged marketers to present flexible market offerings to all
members of a segment. A flexible market offering consists of two parts. Which
of those parts contains the product and service elements that all segment
members value? a.
Naked solutionb.
Discretionary solutionc.
Maximum solutiond.
Pseudo solutione.
Virtual solution 115. Enterprise Rent-A-Car has challenged Hertzs supremacy in the
rental car market by tailoring its marketing program to a relatively neglected
target market. Which of the following would be the most
accurate description of that market? a. The singles market.b. The soccer mom
market.c. The business traveler market.d. The low-budget,
insurance-replacement market.e. The vacationer market. 116. The recipe for Internet
niching success is to ________. a.
find a need and fill itb.
choose a hard-to-find product
that customers do not need to see and touchc.
choose a low-budget product
that is heavily demanded by Gen Yd.
choose an exclusive product
sold primarily to seniorse.
find a product that has some
attraction to a health-conscious market 117. One marketing commentator said, The idea is not to sell
something, but to demonstrate how a
brand can enrich a customers life.
Which of the following forms of marketing was the commentator
describing? a. Experiential marketingb. Niche marketingc. Benefit marketingd. Viral marketinge. Virtual marketing 118. If you were a marketing
manager that was considering implementing
the concept of customer experience management (CEM), you would follow all of
the following steps EXCEPT ________.
a. analyzing the experiential world of the customerb. building the experiential platformc. designing the segmentation
portfoliod. structuring the customer interfacee. engaging in continuous innovation 119. Home furnishing retailer
Bed Bath & Beyonds ability to cater to local tastes has fueled its
phenomenal growth. Bed Bath & Beyonds managers pick ________ of their own
merchandise, and this local focus has helped the chain evolve from one that
began selling little more than bed
linens to the beyond partproducts ranging from picture frames and pot
holders to imported olive oil and
designer door mats.a. 40 percentb. 50 percentc. 25 percentd. 70 percente. 90 percent 120. If a marketing researcher
saw such names (categories) Blue Blood
Estates, Winners Circle, Hometown Retired, or Shotguns and Pickupswhen doing segmentation research, the
marketing researcher would most
likely be dealing with ________ clusters. a.PRIZMb.geodemographic
c.psychographicd. demographice.VALS

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