Questions:
Question 1.1.Why should marketers analyze the costs and benefits of whether to implement a segmentation approach or not?
To identify whether the targeted segment includes enough individuals to justify the segmentation approach.
To discover whether individuals in the target segment are likely to have similar responses to a specific marketing action.
To identify the need/desire of the target segment that creates demand for the offering for sale.
To deduce whether the value gained is sufficient to justify the increased marketing expense required by a segmentation strategy.
Question 2.2. Which answer BEST captures the fundamental insight for marketers related to the changes in U.S. demographics described in Chapter 8?
An increase in niches in the population makes it harder to create cost-efficient marketing campaigns.
The largest population segment will be the Mature Market by 2025, bringing new product opportunities.
Overall population growth will lead to overcrowding and anxiety about ecological impact.
Segmentation that categorizes consumers by behavior leads to more effective marketing.
Question 3.3. As discussed in Chapter 7, what do marketers' study as they examine purchasing behavior?
Marketers hope to quantify the purchasing power of the 112 million consumer households in the U.S.
Marketers seek deeper understanding of how environmental, cultural, group, and individual factors influence purchasing behavior.
Marketers focus predominantly on research data that can be found within a company's internal records, such as sales transactions.
Marketers hope to control or exert influence on more factors influencing purchase behavior.
Question 4.4. What factor was described in Chapter 7 as being crucial for campaigns that are designed to generate recommendations?
A proactive approach to customer satisfaction.
Monitoring social media to deduce what matters most to customers.
Avoiding intrusive or overly commercial marketing touchpoints.
Placing the greatest value on supplier relationships.
Question 5.5. Which answer BEST conveys how technological and ecological concerns are related?
When federal regulations mandating recycling of technology wastes are passed, firms should look for ways to circumvent these policies.
As each new technology replaces an older technology, the solitary focus should be on driving greater sales.
A "cradle to cradle" technology design philosophy allows materials to be continually repurposed, reducing demands on nonrenewable resources.
The resource requirements of technology products throughout their lifecycle can affect the natural environment and vice versa.
Question 6.6. Which definition best describes the term "foundation segment"?
A segment based on foundational experiences during a generation's formative years.
A segment based on the foundation of demographic data obtained in a U.S. census.
A segment based on findings about consumers' locations and demographics.
A segment based on customer/transaction records already in a company's database.
Question 7.7. Specific market segments are more likely to buy certain offerings than the general population. How does this insight assist marketers?
Marketers apply psychology to deliver customer value more efficiently and cost-effectively.
Marketers use segmentation to concentrate resources on the most likely buyers.
Marketers position their offerings on generic emotional benefits designed to appeal to a broad spectrum of consumers.
Marketers assign individuals to clusters by using reference groups, aspirations, and family roles.
Question 8.8. Consider a typical consumer search for a new pair of casual slacks. Which answer best describes the degree of involvement required, based upon the purchase category?
Extended problem solving, typical of specialty products.
Limited problem solving, typical of convenience products.
Routine problem solving, typical of convenience products.
Limited problem solving, typical of shopping products.
Question 9.9. Which factor was NOT listed in Chapter 8 as affecting social and cultural trends in the marketing environment?
Growth in the population aged 55+.
Overall population growth.
Increased racial and ethnic diversity.
Increasing overall political involvement.
Question 10.10. Why should companies scan the environment for trends reflecting changes in consumers' cultural values?
Because core beliefs and values are resistant to change and thus form reliable predictors.
Because cultural values reveal important intelligence for strategic decision makers.
Because competitors share product information through online websites, which requires
monitoring.
Because purchasing behavior typically reflects individuals' cultural values.