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44 Cards in this Set
- Front
- Back
________ consists of the product and service elements that all segment members value, plus discretionary options that some members value.
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Flexible market offering
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Sellers that use mass marketing engage in the mass production, ________, and ________ of one product for all buyers.
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distribution; promotion
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Proponents of local marketing see ________ as wasteful because it fails to address local needs.
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national advertising
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________ combines operationally driven mass customization with customized marketing in a way that empowers consumers to design the product and services offering of their choice.
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Customerization
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What major segmentation variable for consumer markets is represented by buyers divided into different groups on the basis of lifestyles or values?
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psychographic segmentation
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All of the following are segments of user status EXCEPT ________.
potential users regular users first-time users ex-users none users |
none users
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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.
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novices
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A ________ is a set of segments sharing some exploitable similarity.
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supersegment
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The pattern of target market selection that attempts to serve all customer groups with all the products they might need is known as ________.
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full market coverage
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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 ________.
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ethical choice of market targets
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The active apparel retailer, lululemon, uses a rifle approach to focus on those buyers they have the greatest chance of satisfying.
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True
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A niche is a broadly defined customer group seeking a similar set of benefits.
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False
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Today's customers are taking more individual initiative in determining what and how to buy.
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True
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Two broad groups of variables are used to segment consumer markets.
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False
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Geographic segmentation divides the market into groups on the basis of age and the other variables.
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False
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Social class strongly influences preferences in cars, clothing, home furnishing, leisure activities, reading habits and retailers.
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True
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Buyers cannot be classified according to the benefits they seek.
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False
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Once the firm has identified its market-segment opportunities, it has to decide how many and which ones to target.
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True
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In undifferentiated marketing, the firm operates in several market segments and designs different programs for each segment.
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False
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A company should enter one segment at a time and avoid letting rivals know what segment(s) will be next.
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True
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Are business and consumer markets the same or different? Support your position.
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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.
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What is meant by market partitioning?
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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.
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To compete more effectively, companies such as lululemon are embracing ________.
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target marketing
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________ combines operationally driven mass customization with customized marketing in a way that empowers consumers to design the product and service offering of their choice.
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Customerization
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Consumer preferences that are scattered indicating great variance is called ________.
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diffused preferences
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________ 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
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Life stage
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Consumers are divided into groups on the basis of their knowledge of, attitude toward, and use of, or response to a product.
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behavioural segmentation
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All the following EXCEPT ________ are included in the attitude groups.
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enthusiastic
positive indifferent negative - apathetic |
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The following are purchasing approaches EXCEPT ________.
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purchasing-function organization
power structure nature of existing relationships general purchase policies - customer capabilities |
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In ________, the firm ignores segment differences and goes after the whole market with one market offer.
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Market specialization
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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 ________.
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Undifferentiated marketing
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A flexible market offering consists of the product and service elements that all segment members value, plus discretionary options that some segment members value.
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market partitioning
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A flexible market offering consists of the product and service elements that all segment members value, plus discretionary options that some segment members value.
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True
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Market segments can be built up in many ways. Three different patterns can emerge which include homogeneous patterns, diffused patterns, and clustered patterns.
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True
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Three broad groups of variables are used to segment the consumer markets.
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False
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Each generation is not influenced by the times in which they grew up in their cohort groups.
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False
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Generation X profile are often seen as being "edgy", style-conscious, and idealistic.
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False
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Markets can be segmented into nonusers, ex-users, potential users, first-time users and regular users of a product.
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True
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Business marketers generally identify segments through a sequential process.
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True
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After the firm has identified its market-segment opportunities, it has to decide how many and which ones to target.
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True
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Selective specialization is to specialize in making a certain product for several segments.
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False
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Market segmentation analysis is done periodically because segments change.
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True
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Describe a flexible market offering.
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A flexible market offering consists of the product and service elements that all segment members value, plus discretionary options that some members value.
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Two of the key criteria to effective segmentation criteria are measurable and substantial. Briefly describe which each represents.
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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.
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