general business data bank

Question # 00003288 Posted By: spqr Updated on: 11/09/2013 12:52 AM Due on: 11/29/2013
Subject Marketing Topic Marketing Tutorials:
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121. The Scion by Toyota has a hip look and feel—and an industrial strength stereo—and is sold in chrome and black showrooms tucked inside Toyota dealerships. According to Toyota, to which of the following audiences is the Scion positioned? a. Wealthy baby boomers. b. African American Generation X members. c. Hispanic American millennials. d. Generation Y. e. The silent majority. 122. Increasingly, companies are finding that their markets are ________ as middle-market Americans migrate toward more premium products. a. “triangle-shaped” b. “inverted” c. “hourglass-shaped” d. “circular” e. “linear” 123. Which of the following statements accurately describes what demographers are calling the “boom-boom effect”? a. Consumers are demanding more “bang for their buck.” b. Baby boomers still rule the marketplace. c. Generation X and their taste for violence will dominate the market in the future. d. Products that appeal to 20-somethings also appeal to baby boomers. e. Companies must have success quickly or go bust. 124. If a marketing manager employs such marketing techniques as online buzz, student ambassadors, cool events, and street teams to reach target markets, the manager is most likely appealing to the ________ market. a. pre-school b. Generation X c. Generation Y d. Generation Z e. latent baby boomers 125. A hardware store has decided to use the VALS segmentation system to target consumers. The store is particularly interested in reaching people who are characterized by the VALS system as being practical, down-to-earth, and self-sufficient who like to work with their hands. Which of the following VALS categories most likely matches to the hardware store’s segment of interest? a. Believers b. Strivers c. Survivors d. Experiencers e. Makers 126. Users of a brand can be segmented into several groups based on the strength of commitment to the brand. If a brand manager is seeking to identify those users who are most likely to defect to another brand, he or she should look for users that are labeled as being ________. a. convertible b. shallow c. average d. entrenched e. latent 127. A purchasing manager has decided to take a “purchasing approach” to segmenting a proposed business market. All of the following would be potential means (sub-segments) for segmenting under the “purchasing approach” EXCEPT ________. a. purchasing-function organization b. power structure c. specific application d. nature of existing relationships e. purchasing criteria 128. If your assignment was (for each segment) to create a “value proposition” and product-price positioning strategy based on the segment’s unique customer needs and characteristics, you would be in which of the following steps of the segmentation process? a. Needs-based segmentation b. Segment identification c. Segment attractiveness d. Segment positioning e. Segment “acid-test” 129. As a brand manager you have decided to use the full market coverage approach in marketing to your customers. Within the full market coverage approach, you have selected a(n) ________ strategy whereby your firm will operate in several market segments and design different products for each segment. a. undifferentiated b. differentiated c. concentrated d. introverted e. parallel 130. In the past, most car buyers first decided on the manufacturer and then on one of its car divisions. This type of buying strategy has been labeled as a ________. a. brand-dominant hierarchy b. nation-dominant hierarchy c. promotional hierarchy d. geographic hierarchy e. service-value hierarchy Short Answer 131. A starting point for discussing segmentation is mass marketing. Explain this concept. 132. Most companies today are turning to micromarketing at one of four levels. What are those levels? 133. Assume that you have decided to use a niche strategy to advance your marketing goals. Characterize an attractive niche. . 134. Local marketing reflects a growing trend called grassroots marketing. Characterize grassroots marketing. 135. According to one marketing expert, “The idea is not to sell something, but to demonstrate how a brand can enrich a customer’s life.” What form of marketing is this expert referring to? 136. Pine and Gilmore have argued that we are on the brink of what might be called the “Experience Economy.” What are the four varieties of experiences that Pine and Gilmore assert will be salable in the future? 137. When a marketer attempts to segment a consumer market, two broad groups of variables may be used. What are those two broad groups of variables? Give an example of each broad group. . 138. PRIZM was developed by Claritas, Inc. Explain what PRIZM is intended to do. 139. Silverstein and Fiske say that Panera bakery cafes are a good illustration of luxury good-oriented establishments that deliver three benefits that are common to new luxury good organizations. What are the three benefits listed by Silverstein and Fiske? 140. Meredith, Schewe, and Karlovich developed a framework called The Lifestage Analytic Matrix. What does this matrix do and what are the variables that might be contained in such a matrix? 141. Characterize psychographic segmentation. 142. According to the VALS Segmentation System, what four groups belong in the category that displays lower resources? 143. People play five roles in a buying decision. What are those roles? . 144. Buyers can be classified according to the benefits they seek. Even car drivers who what to stop for gas may seek different benefits. Through its research, Mobil identified five different benefit segments. What are those segments and what benefits are associated with each segment? 145. Consumer attitude(s) is(are) an interesting way to segment a market. Research has shown that five attitude groups can be found in the market. What are those five attitude groups? 146. A Conversion Model is proposed in the text. What is the purpose of a conversion model in assessing behavioral segmentation? 147. Assuming you were a marketing manager that was interested in segmenting business buyers’ benefit bundles based on their stage in the purchase decision process, what three categories would be appropriate? 148. One proposed segmentation scheme classifies business buyers into three groups, each warranting a different type of selling. The groups are (1) price-oriented customers, (2) solution-oriented customers, and (3) strategic-value customers. What types of selling (specific selling type name) would be associated with these three groups? 149. Differentiated marketing typically creates more total sales than undifferentiated marketing. However, it also increases the costs of doing business. Assume that you are a marketing manager that is considering using differentiated marketing. What five costs that you encounter on a rather regular basis would most likely be higher because of your decision to pursue differentiated marketing? . 150. As a marketing manager, you have decided to update your segmentation scheme. In the process of doing this, you have decided to use a process called market partitioning. Explain what market portioning is.
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