A Framework For Marketing Management - Chapter 7

Front 1

________ consists of the product and service elements that all segment members value, plus discretionary options that some members value.

Back 1

Flexible market offering

Front 2

Sellers that use mass marketing engage in the mass production, ________, and ________ of one product for all buyers.

Back 2

distribution; promotion

Front 3

Proponents of local marketing see ________ as wasteful because it fails to address local needs.

Back 3

national advertising

Front 4

________ combines operationally driven mass customization with customized marketing in a way that empowers consumers to design the product and services offering of their choice.

Back 4

Customerization

Front 5

What major segmentation variable for consumer markets is represented by buyers divided into different groups on the basis of lifestyles or values?

Back 5

psychographic segmentation

Front 6

All of the following are segments of user status EXCEPT ________.

potential users
regular users
first-time users
ex-users
none users

Back 6

none users

Front 7

Business buyers seek different benefit bundles based on their stage of the purchase decision process. Which best describes the stage if the customers are starting their purchasing relationships and want hotlines, a high level of training and knowledgeable sales representatives.

Back 7

novices

Front 8

A ________ is a set of segments sharing some exploitable similarity.

Back 8

supersegment

Front 9

The pattern of target market selection that attempts to serve all customer groups with all the products they might need is known as ________.

Back 9

full market coverage

Front 10

Consumers become concerned when marketers take unfair advantage of vulnerable groups or disadvantaged groups or promote potentially harmful products. They are concerned about the marketer's ________.

Back 10

ethical choice of market targets

Front 11

The active apparel retailer, lululemon, uses a rifle approach to focus on those buyers they have the greatest chance of satisfying.

Back 11

True

Front 12

A niche is a broadly defined customer group seeking a similar set of benefits.

Back 12

False

Front 13

Today's customers are taking more individual initiative in determining what and how to buy.

Back 13

True

Front 14

Two broad groups of variables are used to segment consumer markets.

Back 14

False

Front 15

Geographic segmentation divides the market into groups on the basis of age and the other variables.

Back 15

False

Front 16

Social class strongly influences preferences in cars, clothing, home furnishing, leisure activities, reading habits and retailers.

Back 16

True

Front 17

Buyers cannot be classified according to the benefits they seek.

Back 17

False

Front 18

Once the firm has identified its market-segment opportunities, it has to decide how many and which ones to target.

Back 18

True

Front 19

In undifferentiated marketing, the firm operates in several market segments and designs different programs for each segment.

Back 19

False

Front 20

A company should enter one segment at a time and avoid letting rivals know what segment(s) will be next.

Back 20

True

Front 21

Are business and consumer markets the same or different? Support your position.

Back 21

Due to the inherent differences between consumer and business markets, marketers cannot use exactly the same variables to segment both. Instead, they use one broad group of variables as the basis of consumer segmentation and another broad group for business segmentation.

Front 22

What is meant by market partitioning?

Back 22

Market partitioning a process which helps discover new segments by investigating the hierarchy of attributes consumers examine in choosing a brand if they use phased decision strategies.

Front 23

To compete more effectively, companies such as lululemon are embracing ________.

Back 23

target marketing

Front 24

________ combines operationally driven mass customization with customized marketing in a way that empowers consumers to design the product and service offering of their choice.

Back 24

Customerization

Front 25

Consumer preferences that are scattered indicating great variance is called ________.

Back 25

diffused preferences

Front 26

________ defines a persons' major concern, such as going through a divorce, going into a second marriage, taking care of an older parent, deciding to cohabitate with another person or deciding to buy a new home

Back 26

Life stage

Front 27

Consumers are divided into groups on the basis of their knowledge of, attitude toward, and use of, or response to a product.

Back 27

behavioural segmentation

Front 28

All the following EXCEPT ________ are included in the attitude groups.

Back 28

enthusiastic
positive
indifferent
negative
- apathetic

Front 29

The following are purchasing approaches EXCEPT ________.

Back 29

purchasing-function organization
power structure
nature of existing relationships
general purchase policies
- customer capabilities

Front 30

In ________, the firm ignores segment differences and goes after the whole market with one market offer.

Back 30

Market specialization

Front 31

One way to discover new segments is to investigate the hierarchy of attributes consumers examine in choosing a brand if they use phased decision strategies, a process called ________.

Back 31

Undifferentiated marketing

Front 32

A flexible market offering consists of the product and service elements that all segment members value, plus discretionary options that some segment members value.

Back 32

market partitioning

Front 33

A flexible market offering consists of the product and service elements that all segment members value, plus discretionary options that some segment members value.

Back 33

True

Front 34

Market segments can be built up in many ways. Three different patterns can emerge which include homogeneous patterns, diffused patterns, and clustered patterns.

Back 34

True

Front 35

Three broad groups of variables are used to segment the consumer markets.

Back 35

False

Front 36

Each generation is not influenced by the times in which they grew up in their cohort groups.

Back 36

False

Front 37

Generation X profile are often seen as being "edgy", style-conscious, and idealistic.

Back 37

False

Front 38

Markets can be segmented into nonusers, ex-users, potential users, first-time users and regular users of a product.

Back 38

True

Front 39

Business marketers generally identify segments through a sequential process.

Back 39

True

Front 40

After the firm has identified its market-segment opportunities, it has to decide how many and which ones to target.

Back 40

True

Front 41

Selective specialization is to specialize in making a certain product for several segments.

Back 41

False

Front 42

Market segmentation analysis is done periodically because segments change.

Back 42

True

Front 43

Describe a flexible market offering.

Back 43

A flexible market offering consists of the product and service elements that all segment members value, plus discretionary options that some members value.

Front 44

Two of the key criteria to effective segmentation criteria are measurable and substantial. Briefly describe which each represents.

Back 44

Measurable: the size, purchasing power, and characteristics of the segment can be measured. Substantial: the segments are large and profitable enough to serve; each should be the largest possible homogeneous group worth going after with a tailored marketing program.