Question 1

When a firm introduces a new product, it may be practical to launch only one version, so ________ marketing makes the most sense.

Accepted Answer

A)   Undifferentiated or homogeneous
B)   Homogeneous or concentrated
C)   Undifferentiated or concentrated
D)   Differentiated or dilutedE) None of the above
F) C) and D)

Question 2

Marketers in hospitality companies need to work to establish images that differentiate their company from competitors.

Accepted Answer

A) True 
 B)False  True

Question 3

Which of the following is NOT a part of the psychographic variable?

Accepted Answer

A)   Social class
B)   Lifestyle
C)   Loyalty
D)   PersonalityE) All of the above
F) None of the above

Question 4

With ________, the seller identifies market segments, selects one or more, and develops products and services tailored to each selected segment.

Accepted Answer

A)   Differentiation marketing
B)   Target marketing
C)   Product-variety marketing
D)   Mass marketingE) A) and D)
F) A) and C)

Question 5

The degree to which segments can be assessed and served is the ________ of the market segment.

Accepted Answer

A)   Measurability
B)   Accessibility
C)   Substantiality
D)   ActionabilityE) A) and B)
F) A) and C)

Question 6

Over-positioning is defined as:

Accepted Answer

A)   Giving buyers a too-broad picture of the company
B)   Positioning the company on a level above its par
C)   Giving buyers a too-narrow picture of the company
D)   Failing to ever positioning the company at allE) None of the above
F) A) and B)

Question 7

The effectiveness of frequent-flyer and frequent-guest programs is clearly enormous.

Accepted Answer

A) True 
 B)False

Question 8

Instead of going for a small share of a large market, the firm pursues a large share of one or a few small markets. This marketing strategy is called:

Accepted Answer

A)   Selective marketing
B)   Elective marketing
C)   Concentrated marketing
D)   Concentric marketingE) B) and C)
F) B) and D) C

Question 9

Evaluating each market segment's attractiveness and selecting one or more of the market segments to enter is called:

Accepted Answer

A)   Market targeting
B)   Market segmentation
C)   Market mixing
D)   Market positioningE) A) and D)
F) B) and C) A

Question 10

To an economist, a market is all the buyers and sellers who transact for a good or service.

Accepted Answer

A) True 
 B)False

Question 11

The lodging industry is particularly effective in using income segmentation.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following do NOT contribute to a company's product differentiation efforts?

Accepted Answer

A)   Physical attributes
B)   Service
C)   Personnel
D)   ProfitabilityE) B) and C)
F) A) and B)

Question 13

Loyal customers are price ________ compared to brand-shifting patrons.

Accepted Answer

A)   Sensitive
B)   Insensitive
C)   Economic elastic
D)   Economic inelasticE) A) and B)
F) A) and C)

Question 14

Actionability is the degree to which the segment's size and purchasing power can be measured.

Accepted Answer

A) True 
 B)False

Question 15

The increasing fragmentation of the mass market into hundreds of smaller markets is called:

Accepted Answer

A)   Macromarketing
B)   Deindividualized marketing
C)   Mass marketing
D)   MicromarketingE) B) and C)
F) None of the above

Question 16

Describe the basis for geographic segmentation.

Accepted Answer

Geographic segmentation is a marketing s...

Question 17

Formulating competitive positioning for a product and a detailed marketing mix is called:

Accepted Answer

A)   Market evaluation
B)   Market positioning
C)   Market targeting
D)   Market competitive advantageE) A) and D)
F) A) and C)

Question 18

Offering consumers greater value either through lower prices or by providing more benefits that justify higher prices, is called:

Accepted Answer

A)   Smart marketing
B)   Effective market positioning
C)   Bifurcation marketing
D)   Competitive advantageE) A) and B)
F) A) and C)

Question 19

Which of the following is a psychographic segmentation variable?

Accepted Answer

A)   Age
B)   Social class
C)   Income
D)   GenderE) All of the above
F) A) and D)

Question 20

Explain the four major segmenting variables for consumer markets.

Accepted Answer

The answer of Explain the four major segmenting variables for...

Exam 8: Customer Driven Marketing Strategy: Creating Value for Target Customers

When a firm introduces a new product, it may be practical to launch only one version, so ________ marketing makes the most sense.

Correct AnswerverifiedShow Answer

Marketers in hospitality companies need to work to establish images that differentiate their company from competitors.

Correct AnswerverifiedTrue

Which of the following is NOT a part of the psychographic variable?

Correct AnswerverifiedShow Answer

With ________, the seller identifies market segments, selects one or more, and develops products and services tailored to each selected segment.

Correct AnswerverifiedShow Answer

The degree to which segments can be assessed and served is the ________ of the market segment.

Correct AnswerverifiedShow Answer

Over-positioning is defined as:

Correct AnswerverifiedShow Answer

The effectiveness of frequent-flyer and frequent-guest programs is clearly enormous.

Correct AnswerverifiedShow Answer

Instead of going for a small share of a large market, the firm pursues a large share of one or a few small markets. This marketing strategy is called:

Correct AnswerverifiedC

Evaluating each market segment's attractiveness and selecting one or more of the market segments to enter is called:

Correct AnswerverifiedA

To an economist, a market is all the buyers and sellers who transact for a good or service.

Correct AnswerverifiedShow Answer

The lodging industry is particularly effective in using income segmentation.

Correct AnswerverifiedShow Answer

Which of the following do NOT contribute to a company's product differentiation efforts?

Correct AnswerverifiedShow Answer

Loyal customers are price ________ compared to brand-shifting patrons.

Correct AnswerverifiedShow Answer

Actionability is the degree to which the segment's size and purchasing power can be measured.

Correct AnswerverifiedShow Answer

The increasing fragmentation of the mass market into hundreds of smaller markets is called:

Correct AnswerverifiedShow Answer

Describe the basis for geographic segmentation.

Correct AnswerAnswered by ExamLex AIGeographic segmentation is a marketing s...View AnswerShow Answer

Formulating competitive positioning for a product and a detailed marketing mix is called:

Correct AnswerverifiedShow Answer

Offering consumers greater value either through lower prices or by providing more benefits that justify higher prices, is called:

Correct AnswerverifiedShow Answer

Which of the following is a psychographic segmentation variable?

Correct AnswerverifiedShow Answer

Explain the four major segmenting variables for consumer markets.

Correct AnswerverifiedShow Answer

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True

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C

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A

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Answered by ExamLex AI
Geographic segmentation is a marketing s...
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