FINANCE

8.  Market segmentation can be carried out at several different levels.  Which of the

following WOULD NOT BE among these levels?

a.  micromarketing

b.  segment marketing

c.  competition marketing

d.  niche marketing

 

9.  Another word for complete segmentation is:

a.  macromarketing.

b.  micromarketing.

c.  niche marketing.

d.  mass marketing.

 

10. For most of the 20th century, firms practiced which of the following forms of

marketing?

a.  mass marketing

b.  micromarketing

c.  niche marketing

d.  segment marketing

 

11. Which of the following marketers epitomized the mass marketing strategy?

a.   Henry Ford

b.   Bill Gates

c.   F.W. Woolworth

d.   Thomas A. Edison

 

12.Which of the following statements is closest to the traditional argument for mass marketing?

a.   Find a need and fill it.

b.   The largest potential market can lead to the lowest costs, which translates into either lower prices or higher margins.

c.   The rifle approach rarely hits what it is aiming at.

d.   The consumer is king.  Long live the king.

 

13.Isolating broad segments that make up a market and adapting the marketing to match the needs of one or more segments is called _________________.

a.   niche marketing

b.   mass marketing

c.   segment marketing

d.   micromarketing

 

14.When General Motors designs specific models for different income and age groups, it is practicing which of the following marketing formats?

a.   micromarketing

b.   macromarketing

c.   mass marketing

d.   segment marketing

 

15.Segment marketing offers several benefits over mass marketing.  All of the following would be among those benefits EXCEPT:

a.   the company can market more efficiently and target its programs toward only those consumers that it can serve best.

b.   the company can fine-tune its programs to meet the needs of carefully defined segments.

c.   the company can reduce costs because of the ability to sell to customers one-on-one.

d.   the company may face fewer competitors if fewer competitors are focusing on the company’s chosen market segment.

 

16.A company is practicing ________________ if it focuses on subsegments with distinctive traits that may seek a special combination of benefits.

a.   micromarketing

b.   niche marketing

c.   mass marketing

d.   segment marketing

 

17.As an example of _______________, a company could build sport utility vehicles and direct marketing efforts towards the luxury SUV market (as does Lexus).

a.   micromarketing

b.   niche marketing

c.   mass marketing

d.   segment marketing

 

18. American Express offers not only its traditional green cards but also gold cards,

corporate cards, and even a black card, called the Centurian, with a $1,000 annual

fee aimed at a small group of “superpremium customers.”  Which of the following

marketing efforts is American Express following with their credit card policies?

a.  macromarketing

b.  segment marketing

c.  niche marketing

d.  self-marketing

 

 

19._________________ is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations.

a.   Niche marketing

b.   Micromarketing

c.   Segment marketing

d.   Mass marketing

 

20. Micromarketing includes:

a.  segment marketing and niche marketing.

b.  mass marketing and demographic marketing.

c.  local marketing and individual marketing.

d.  individual marketing and self-marketing.

 

21. ______________ involves tailoring brands and promotions to the needs and wants of specific small groups such as cities, neighborhoods, and even specific stores.

a.   Niche marketing

b.   Local marketing

c.   Detail marketing

d.   Individual marketing

 

22.All of the following are considered to be drawbacks of local marketing EXCEPT:

a.   it can drive up manufacturing and marketing costs by reducing economies of scale.

b.   it can create logistical problems when the company tries to meet varied requirements.

c.   it can attract unwanted competition.

d.   it can dilute the brand’s overall image.

 

23.________________ is tailoring products and marketing programs to the needs and preferences of individual customers.

a.   Niche marketing

b.   Local marketing

c.   Self-marketing marketing

d.   Individual marketing

 

 

24. Individual marketing is known by a variety of names.  All of the following would

appropriately be called individual marketing EXCEPT:

a.  mono-marketing.

b.  one-to-one marketing.

c.  customized marketing.

d.  markets-of-one marketing.

 

 

25.______________ is the process through which firms interact one-to-one with

masses of customers to create customer-unique value by designing products and

services tailor-made to individual needs.

a.   Mass marketing

b.   Detail marketing

c.   Mass globalization

d.   Mass customization

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