14 Aug Question 1The first level of customer relationship marketing is a ________ strat

Question 1The first level of customer relationship marketing is a ________ strategy that recognizes individual customers by name and buying behavior.mass-personalizationdecentralizationmass-marketcore-segmentsub-segment2 pointsQuestion 2When differences in customer needs are small or demographics are not distinctive, a business may elect to use a ________ strategy.small-segmentvertical integrationhorizontal integrationmass-marketniche-segment2 pointsQuestion 3Niche-segment strategies differ from mass-market strategy in that niche-market strategies ________.address one set of core customer needs of a large market segmenthave no segment focusare used when demographics are not distinctiveare used when the company markets to a closely related attractive segment firstinvolve highly refined marketing effort directed at an overlooked, small group of customers2 pointsQuestion 4Karen is interested in assessing a market segment’s attractiveness by analyzing the market demand. Which of the following would be a variable should she assess?number of companiesease of entrycustomer familiarity with her companymarket sizeaccess to channels that reach target customers2 pointsQuestion 5Which of the following is true about database marketing?It is at the core of customer relationship marketing.It assumes that all customers have the same needs.It avoids building a more personal relationship between the business and the customer.It treats all customers as the same, instead of assuming that each customer is unique.It prioritizes creating efficiency through technological advances over building customer relationships.2 pointsQuestion 6A large-segment strategy differs from a mass-market strategy in that a large-segment strategy ________.addresses one set of core customer needshas no segment focusis used when demographics are not distinctiveis used when differences in customer needs are smallallows customers to build their own products2 pointsQuestion 7Which of the following is true of needs-based market segments?Relevant demographics that cause differences in needs include investments, size of investment portfolio, and portfolio diversification.To make the segments actionable, the observable demographics and behaviors have to be determined.The main advantage is that individual customers who fall into each segment can be identified.The main disadvantage is that the segments are not directly based on specific customer needs.The usage behaviors that cause differences in needs include income and assets.2 pointsQuestion 8Differences in values, attitudes, and interests are examples of ________ forces shaping consumer needs.demographiclifestyleusage behaviorgeographicfirmographic2 pointsQuestion 9Mass-customization differs from mass-personalization in that mass-customization ________.is a customer relationship marketing strategyassumes that all customers have the same needsallows each customer to build a custom product to meet that customer’s specific needsinvolves pursuing a large-segment strategyrecognizes individual customers by name, needs, and buying behavior.2 pointsQuestion 10Which of the following forces that shape segment attractiveness include market size, growth rate, and growth potential?competitive intensitymarket accessmarket demandprofitabilityfeasibility2 pointsQuestion 11When a market is segmented and marketing resources are limited, a business could elect to pursue a large-segment strategy.TrueFalse1 pointsQuestion 12When pursuing a large-segment strategy, a business presents a generic value proposition built around the core customer need and the business’s generic positioning strategy to the entire market.TrueFalse1 pointsQuestion 13Common to most assessments of segment attractiveness are measurements of market demand, competitive intensity, and market access.TrueFalse1 pointsQuestion 14In order to implement a mass-personalization strategy, a business’s database marketing system must be able to track individual customers and their buying history.TrueFalse1 pointsQuestion 15Both consumers and businesses have market needs, and the factors influencing their needs are essentially the same.TrueFalse2 points2 points2 points2 points2 points2 points2 points2 points2 points2 pointsTrueFalse1 pointsTrueFalse1 pointsTrueFalse1 pointsTrueFalse1 pointsTrueFalse

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