[Solved] MRKT 310 Week 5 Quiz 5

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MRKT 310 Week 5 Quiz 5 MRKT 310 - Week 4B Quiz 15/15 – 100% Question 1 (1 point) When a marketer breaks down consumers into groups of possible buyers that have similar characteris... tics he is engaging in __________. Question 1 options: a) market differentiation. b) market segmentation. c) target marketing. d) mass marketing. Question 2 (1 point) Why are many companies choosing to target marketing instead of mass marketing? Question 2 options: a) because they can find a larger base of customers among like-minded consumers b) because their products only appeal to certain types of consumers c) because they do not have the resources to advertise to mass markets d) because the marketing consultants have convinced them to do so Question 3 (1 point) John Deere, marketers of farm equipment, would be primary concerned with which major segmentation basis? Question 3 options: a) geographic b) psychographic c) behavioral d) demographics Question 4 (1 point) A market segment of 50-60 year old women, making more than $70,000 annually, college educated, who loves to travel, would describe a market segment using which two segmentation bases? Question 4 options: a) demographics and psychographics b) demographics and geographics c) behaviors and geographics d) behaviors and demographics Question 5 (1 point) Why would a marketer be interested in knowing about the stages of a family's life cycle? Question 5 options: a) To help the marketer predict the family's buying behavior over time and match offerings with those buying behaviors b) To help the marketer understand the ups and downs the family encounters over the course of a single year c) To understand the transportation needs of the family over time. d) To help the marketer isolate the buying behaviors of each member of the family and market products unique to each family member. Question 6 (1 point) Does a customer's ethnicity impact their buying decisions? Question 6 options: a) Ethnicity has only a minor impact on purchasing decisions. b) No, consumer diversity is a social other than a marketing concern. c) Ethnicity is a marketing communications issue only. d) Yes, ethnicity has a major impact on purchasing decisions. Question 7 (1 point) The attached ad for fashion retailer Benetton is an example of the company trying to capture the consumer's attention by trying to make them more perceptive to their product by using __________________. Question 7 options: a) shock advertising b) subliminal advertising c) selective perception d) marketing stimuli Question 8 (1 point) Who is the target market the Coffee Mate product line extension advertised in the attached image? Question 8 options: a) This ad is targeted to anyone who likes to drink coffee with a chocolate flavor. b) This ad is targeted toward the Mexican-American population who desire the spicy chocolate flavor. c) This ad is targeted toward Hispanics who speak English as their primary language d) This ad is targeted toward Mexican-American women who make the majority of buying decisions in Hispanic households. Question 9 (1 point) Which bases of segmentation can cross many of the criteria from multiple market segments? Question 9 options: a) Demographic b) Psychographic c) Behaviors d) Geographic Question 10 (1 point) What might be among the benefits for companies to engage in effective market segmentation? Question 10 options: a) There are no benefits to be gained by segmenting customers unless the competition is doing so as well. b) Marketing department will be allocated more resources for more advertising to reach even more potential customers. c) The number of possible competitors decreases in a well-defined segmented market. d) Customer messages are more difficult to compose for segmented customers. Question 11 (1 point) What do marketers call the cogent reason why a customer should buy their product and not the competitors? Question 11 options: a) rationale b) positioning c) unique selling proposition d) competitive parity Question 12 (1 point) Which of the following is the best approach to repositioning a company's products and/or brands? Question 12 options: a) The company must significantly increase the focus on its marketing messages to new target markets. b) Eliminating the product or brand from the company's holdings and relaunching it under a new name at a later date is the only way to reposition an existing product. c) Change market perceptions about the product from its original use to a new use or a different value for a different market, generally through promotional messages d) Product repositioning is impossible to achieve once a product's brand has been established in the minds of the consumers. Question 13 (1 point) All of the following are characteristics of a good market segment EXCEPT: Question 13 options: a) it is large enough to make money for the company. b) the market segment's needs are not already met by multiple competitors. c) the company can compile a mailing list of all members of the target market. d) the company has the resources to compete in the selected market segment. Question 14 (1 point) The Better Mouse Trap Company wants to sell its mouse trap to people who live in older multi-unit dwellings in urban areas where mice tend to be a big problem. What type of target market strategy would you recommend to The Better Mouse Trap Company? Question 14 options: a) concentrated b) niche c) multisegmented d) differentiated Question 15 (1 point) Mary Jane opened a new boutique store in the heart of an historic city. Mary Jane will only sell art produced by local artists as she noted other galleries were selling artwork from artists located across the country. Mary Jane is engaged in what target market strategy? Question 15 options: a) undifferentiated b) differentiated c) niche d) multisegment [Show More]

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