Psychographics is the segmentation method that delves into how consumers
Select one:
a. value their livelihoods.
b. allocate scarce incomes to a variety of goods and services.
c. adjust to demographic changes.
d. describe themselves.
e. believe other people see them.
answer
Feedback
Psychographics is related to the way we describe ourselves—our self-concept, values, and lifestyle.
The correct answer is: describe themselves.
question
Marketers often employ a combination of segmentation methods, using __________ to identify and target their customers, and __________ to design products and messages to appeal to them.
Select one:
a. geodemographic segmentation; lifestyle or benefit segmentation
b. lifestyle segmentation; geographic segmentation
c. loyalty segmentation; demographics
d. loyalty segmentation; geodemographics
e. undifferentiated targeting; differentiated targeting
answer
Feedback
Marketers may start with a segmentation method such as geodemographic segment to identify a segment to target; after that, lifestyle or benefits may be considered when designing the marketing mix to make sure that it meets customers' needs.
The correct answer is: geodemographic segmentation; lifestyle or benefit segmentation
question
For products like clothespins, which provide the same benefit for all consumers, marketers should probably use aNo ________ strategy.
Select one:
a. undifferentiated targeting
b. benefit segmentation
c. lifestyle segmentation
d. concentrated targeting
e. differentiated segmentation
answer
Feedback
An undifferentiated targeting strategy is appropriate for products for which almost anyone can be a target customer, and where customer needs and wants are similar across all groups. In this strategy, a single marketing mix is designed for all customers.
The correct answer is: undifferentiated targeting
question
Four frequently used targeting strategies are the micromarketing, undifferentiated, differentiated, and __________ targeting strategies.
Select one:
a. global
b. benefit-based
c. concentrated
d. geographic
e. economic
answer
Feedback
The four targeting strategies are micromarketing, undifferentiated, differentiated, and concentrated.
The correct answer is: concentrated
question
Paula is trying to determine whether the segments she is considering for her day care center will be profitable. Which of the following will NOT specifically help her in this analysis?
Select one:
a. The percentage of parents in the area who can both afford to send their child or children to day care and who are willing to do so.
b. The price she would charge minus the variable cost of providing service to each child.
c. The fixed costs of operating the center.
d. The average number of school-age children in families sending a child to the day care center.
e. The number of children needing day care in the immediate area.
answer
Feedback
The number of children needing day care and the percentage of parents able and willing to send a child to day care are factors that will help to determine the segment size. The fixed costs and price minus variable cost will help to determine costs and profit margin. School-age siblings of day care center children are not relevant to the calculation unless the day care center also has an after-school program of some sort, and the question does not mention any such program.
The correct answer is: The average number of school-age children in families sending a child to the day care center.
question
Karen has identified four potential market segments for her Rent-A-Chef home meal catering service. She will now evaluate whether each segment is attractive relative to all of the following EXCEPT
Select one:
a. reachable.
b. responsive.
c. realistic.
d. profitable.
e. substantial.
answer
Feedback
When evaluating a segment's attractiveness, we consider whether the segment is substantial, responsive, profitable, reachable, and identifiable.
The correct answer is: realistic.
question
Karen has identified four potential market segments for her Rent-A-Chef home meal catering service. The next step is to
Select one:
a. develop a positioning strategy.
b. establish her overall objectives.
c. decide on a targeting strategy.
d. evaluate the attractiveness of each segment.
e. categorize each market segment by consumer demographics.
answer
Feedback
After identifying potential market segments, the next step is to evaluate the attractiveness of each segment.
The correct answer is: evaluate the attractiveness of each segment.
question
Godiva Chocolates produces specially decorated boxes of candies for Valentine's Day, Easter, and Christmas. This is an example of ________ segmentation.
Select one:
a. loyalty
b. psychographic
c. geographic
d. demographic
e. occasion
answer
Feedback
Behavioral segmentation based on when a product or service is purchased or consumed is called occasion segmentation.
The correct answer is: occasion
question
Firms use a differentiated targeting strategy because
Select one:
a. it helps to obtain a bigger share of the market.
b. it is easier than mass marketing.
c. it is better than focusing on individual or small groups of potential customers.
d. banks are more willing to extend credit to companies with this strategic approach.
e. most market segments are too small to be profitable.
answer
Feedback
A differentiated targeting strategy builds a different marketing mix for each of several market segments. This allows the firm to target a larger portion of the market and gain a greater market share.
The correct answer is: it helps to obtain a bigger share of the market.
question
Beer marketers know that high school educated, working-class males from the ages of 25 to 40 make an attractive market for their products. This is a __________ segment of the beer market.
Select one:
a. geographic
b. psychographic
c. demographic
d. benefits
e. behavioral
answer
Feedback
Age, education, social class, and gender are demographic variables.
The correct answer is: demographic
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