Chapter 8

Mass-marketing efforts are used by marketers because

Of the need to create brand awareness or to remind consumers of a product

Consumers have their own unique sets of needs and wants

The time consumers spend on making purchase decisions has increased in recent times

The importance of rewarding individual consumers for their loyalty has declined in the recent years

Kirksand Airlines is well-known for providing excellent service and personalized attention to its flyers. The staff listen carefully to the flyers' wants and needs. If a flyer had any specific requests, the staff member would see to it that the flyer's needs are immediately attended to. In this scenario, on which of the following trends has Kirksand Airlines based its customer relationship management?

Personalization

Time Savings

Loyalty

Technology

In the context of a buying process, which of the following statements is true of satisficers

They select the best supplier who satisfies their product and delivery requirements

They study numerous proposals carefully before selecting one.

They contact new and unfamiliar suppliers when they need to purchase a product

They contact familiar suppliers and place orders with the first one that fulfills their requirements

Nalpas Inc., an apparel company, manufactures clothes for men, women, and children. It further divides its core customers on the basis of demographic variables such as income, ethnic background, and family life cycle. These divisions are known as _____.

Positioning Bases

Market Segments

Perceptual Maps

Market Positions

The editorial board of Gamers' Page, a magazine that primarily caters to people who are enthusiastic about sports and gaming, targets people who enjoy games. This type of market segmentation used by the editorial board of Gamers' Page is an example of _____.

Benefit segmentation

Usage-rate segmentation

Psychographic segmentation

Geographic segmentation

Wesley Electronics Inc. Is a company that manufactures electronic gadgets. The marketing managers of the company spend a great deal of money on advertising in order to create awareness of the company's products among potential customers. They employ various methods of advertising, such as print, broadcast, and online advertising. According to the steps of market segmentation, Wesley Electronics Inc. Is most likely:

Selecting a market or product category for study

Designing and implementing marketing mixes

Profiling and analyzing market segments

Selecting segmentation descriptors for a market

Which of the following is a similarity between a stock market and a labor market?

Both are composed of people with specific wants that can be satisfied by particular product categories

Both deal in selling high-end, expensive products

Both are composed of people who are unwilling to spend large sums of money for products or services.

Both adopt a barter system to facilitate the exchange of products

In the context of purchasing profiles, _____ are business customers who consider numerous suppliers, solicit bids, and study all proposals carefully before selecting one.

Satisficers

Laggards

Innovators

Optimizers

Which of the following is a similarity between a stock market and a labor market?

Both adopt a barter system to facilitate the exchange of products

Both are composed of people with specific wants that can be satisfied by particular product categories

Both are composed of people who are unwilling to spend large sums of money for products or services.

Both deal in selling high-end, expensive products

Terra Corp. Produces a wide range of furniture, such as cabinets, book cases, and wardrobes. It divides its consumer market into several groups of people who have similar interests in wooden furniture. In this case, dividing its consumer market:

Eliminates the need for defining marketing objectives

Enables Terra Corp. To meet the markets’ need with a single marketing mix.

Enables Terra Corp. To define customer needs and wants precisely

Chapter 8

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