Lecture Quiz 7-8

Question 1

Gilron Holidays runs a premium membership club that caters to customers whose annual salary exceeds $100,000. Members of this club are offered seasonal discounts on select luxury hotels in select cities worldwide. Gilron Holidays most likely follows a(n) ________ segmentation approach.

Answer 1

Income

Question 2

_______ segmentation refers to dividing the market into segments according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item.

Answer 2

occasion

Question 3

________ are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.

A) Shopping products
B) Line extensions
C) Industrial products
D) Specialty products
E) Unsought products

Answer 3

D) Specialty products

Question 4

Service ________ means that services cannot be stored for later sale or use.

Answer 4

Perishability

Question 5

Which of the following is true with regard to products?

A) The quality of products is far more difficult to measure than that of services.
B) Products do not include experiences, organizations, persons, places, and ideas.
C) Products are not meant for sale in the market.
D) Products include services, events, persons, places, organizations, ideas, or a mixture of
these.
E) Products refer to only those activities that are essentially intangible.

Answer 5

D) Products include services, events, persons, places, organizations, ideas, or a mixture of
these.

Question 6

A ________ consists of a set of buyers who share common needs or characteristics that the company decides to serve.

Answer 6

Definition target

Question 7

________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Answer 7

demographic segmentation

Question 8

________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Answer 8

positioning

Question 9

________ segments are conceptually distinguishable and respond differently to different marketing mix elements and programs.

Answer 9

Differentiable

Question 10

________ consists of evaluating each market segment’s attractiveness and selecting one or more segments to enter.

Answer 10

Market Targeting

Question 11

________ segmentation has long been used in clothing, cosmetics, toiletries, and magazines.

Answer 11

Gender

Question 12

________ products are those products purchased for further processing or for use in conducting a business.

A) Unsought products
B) Specialty products
C) Shopping products
D) Industrial products
E) Accessories

Answer 12

D) Industrial products

Question 13

________ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.

Answer 13

Services

Question 14

________ segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product.

Answer 14

Demographic segmentation

Question 15

________ involves actually distinguishing the firm’s market offering to create superior customer value.

Answer 15

Differentiation