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MKT 571 FINAL EXAM 2023 WINTER SESSION NEW EXAM VERSION 1 (COMPLETE WITH SOLUTIONS)
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MKT 571 FINAL EXAM 2023 WINTER SESSION NEW EXAM VERSION 1 (COMPLETE WITH SOLUTIONS)
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MKT 571 FINAL EXAM 2023 WINTER SESSION NEWEXAM VERSION 1 (COMPLETE WITH SOLUTIONS)
Which of the following statements about market segmentation is TRUE?
A) It involves changing the identity of a product, relative to the identity of competing
products, in the collective minds of the target market.
B) It is a process of evaluating each segment's attractiveness and selecting one or
more to enter.
C) It is a process of creating an image or identity of the product in the minds of the
target market.
D) It is a process of identifying and profiling distinct groups of buyers who differ in
their needs and wants.
E) It is the quality of how marketers go to market with the goal of optimizing their
spending to achieve good results. - ANSWER: D
Establishing and communicating the distinctive benefit(s) of the company's market
offering for each target segment is called ________.
A) market research
B) market positioning
C) marketing effectiveness
D) market segmentation
E) market dominance - ANSWER: B
The process of selecting one or more market segments to enter is called market
________.
A) targeting
B) dominance
C) positioning
D) segmentation
E) research - ANSWER: A
When Nike attempts to get close to its customers at the local level by sponsoring
local school teams and providing shoes, equipment, and clothing to many of them,
Nike is using which of the following marketing formats?
A) differentiated marketing
B) affiliate marketing
C) guerrilla marketing
D) affinity marketing
E) grassroots marketing - ANSWER: E
When the Modern Museum of Art separated its consumers by whether they were
culture-oriented or outdoor-oriented for its new exhibit on art that used natural
materials, they were using ________ segmentation.
A) psychographic lifestyle
B) personality
C) behavioral occasions
, D) social class
E) demographic - ANSWER: A
Pampers divides its market demographically on the basis of ________ into prenatal,
new baby, baby, toddler, and preschooler.
A) life stage
B) gender
C) age
D) income
E) social class - ANSWER: C
The fact that Honda described its boxy Element as a "dorm room on wheels," but
then attracted so many baby boomers that the average age of the Element turned
out to be 42 illustrates what quality of baby boomers?
A) being willing to pay for price for valued offerings
B) being turned off by overt marketing practices
C) being pragmatic and prizing self-sufficiency
D) wanting to purchase online
E) wanting to turn back the hands of time - ANSWER: E
Newlyweds in the United States buy more in the first six months than an established
household does in five years. Newlyweds are an example of a(n) ________ segment.
A) life stage
B) age
C) behavior
D) user status
E) income - ANSWER: A
Which of the following statements about Gen Xers is TRUE?
A) Gen Xers are often willing to change brands.
B) Gen Xers are selective, confident, and impatient.
C) Gen Xers are socially conscious and concerned about the environment.
D) Gen Xers prize self-sufficiency and are pragmatic.
E) Technology is a barrier for Gen Xers. - ANSWER: D
________ is the science of using psychology and demographics to better understand
consumers.
A) Psychographics
B) Interactionism
C) Clustering
D) Demographic transition
E) Customerization - ANSWER: A
The dimensions in the VALS framework are consumer resources and ________.
A) marketer resources
B) product innovation
C) consumer maturity
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