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Scott, MIT Graduate
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1. CVS drugstores used both lifestyle and demographic segmentation

Customer Question

1. CVS drugstores used both lifestyle and demographic segmentation to

A. close unprofitable stores, or stores that would become unprofitable in the near future.

B. determine what stores in what cities should carry lifestyle products like birth control.

C. develop a product mix and set of promotion messages to reach their most frequent and regular shoppers.
D. assist federal drug enforcement agents to track down illegal use of over-the-counter drugs.

2. If the results of marketing research provide information that's used in making management decisions, marketing research will

A. become an executive staff function.

B. become an important profit center in its own right.
C. replace the need for detailed planning exercises.

D. create value.

4. _______ segmentation is the most common basis of consumer market segmentation because these segments are easy to define and usually easy to reach.

A. Demographic

B. Geographic

C. Psychographic
D. Self-value

5. Benefit-cost analysis in market research weighs the

A. benefit of primary data research versus the benefit of secondary data research.

B. benefit of a MkIS versus the cost of syndicated data.

C. potential benefit of exploratory research against the exact benefit of conclusive research.
D. benefits of answering questions against the cost of the research.

6. If a firm has geodemographic and purchasing information about its customers, the firm can effectively use data mining techniques to

A. quantify unstructured survey question responses using geographic statistical simulations.
B. tailor separate marketing programs for different geodemographic segments.

C. understand psychographic motivations.

D. create new customer surveys.

7. The many incidents of identity theft and scams presented to consumers as market research surveys have made

A. it more difficult for market researchers to gain cooperation from respondents.
B. government regulations covering market research more flexible.

C. consumers more sympathetic to the plight of market researchers.

D. data mining easier.

8. Marketing researchers (both ethical and not) have found it more and more difficult to get quality information, especially about sensitive topics. Responsible marketers know they must _______ to get reluctant respondents to provide honest information.

A. assure consumers that their individual responses will be kept confidential
B. use either focus group or in-depth interviews

C. deconstruct unstructured questions

D. choose only extroverts and other marketing researchers

9. One of the most important factors in creating solid, actionable recommendations is that market researchers must collect, record, analyze, and interpret data in a(n) _______ fashion.

A. systematic

B. opportunistic

C. synchronous rather than asynchronous

D. entrepreneurial

10. If detailed customer information is kept over a period of time, a company may be able to construct an important measure of a customer's profitability known as

A. primary customer profit.

B. customer net worth.

C. customer lifetime value.

D. customer earning potential.

11. Which of the following is a correct statement about segmentation schemes?

A. Firms are likely to use a different segmentation scheme depending on whether they're production, sales, or marketing oriented.
B. Firms are likely to use one or rarely two segmentation schemes as an economic convenience.

C. Firms are likely to use selected segmentation schemes to enter into undifferentiated markets.

D. Firms are likely to use multiple segmentation methods to leverage the capacities of each.

12. Company sales invoices, census data, and trade association statistics are examples of _______ data.

A. outdated

B. secondary

C. simplistic

D. primary

13. From charitable giving, to medical records, to Internet tracking, consumers are more anxious than ever about

A. exploitation of resources by unscrupulous global marketers.
B. the use of data mining by dating services.

C. the use of secondary data retrieval systems.

D. preserving their fundamental right to privacy.

14. Within a perceptual map, an ideal point represents where

A. the lifestyle symbolism matches the consumer's self-idealization perception.
B. the marketing mix is established as a base-line.

C. a particular market segment's desired product would lie.

D. costs and benefits equal each other.

15. Because marketing is all about creating value for customers, dividing the market based on _______ segmentation can be quite useful.

A. psychographic

B. geographic

C. self-actualization

D. benefit

16. For each target market, General Imaging Corporation, a manufacturer of imaging equipment, should engage in positioning, adjusting their marketing mix variables to give customers

A. a psychographic consultation based on value-enhanced manufacturing.

B. a clear, distinctive, and desirable understanding of their products relative to competing products.
C. better Medicaid and Medicare payments.

D. a virtual perceptual map of the imaging landscape.

17. When the market research problem isn't clearly defined, a researcher should engage in _______ research.

A. data mining

B. exploratory

C. conclusive

D. syndicated marketing surveys

18. Through analysis of sales data, Price-Cutters retail store found that customers who bought peanut butter tended to also buy bananas. Price-Cutters was engaged in

A. syndicated surveying.

B. behavioral analysis.

C. focus group analysis.

D. data mining.

19. Victor's custom auctioneering service provides online auction selling assistance. Victor wants to determine which auction site is best for his customers. To address this question, Victor should next

A. outline the presentation format he will use.

B. collect data.

C. identify the type of data he needs to have.

D. determine which statistical procedures he will use.

20. In the classic example of segmentation strategy, years ago Swift Meat Company transformed turkey meat into "Butterball" turkeys. In the process, the company

A. differentiated its product.

B. raised consumers' self-concepts.

C. created a new class of micromarketing.
D. avoided the SARS virus.

21. Greta is concerned that one of the potential market segments she has identified for her dog grooming service is too small and doesn't contain sufficient buying power. Greta is concerned with whether the segment is

A. substantial.

B. profitable.

C. responsive.
D. reachable.

22. If a marketing researcher is ready to move beyond preliminary insights, he or she is ready to engage in

A. data warehousing.

B. syndicated marketing surveys.

C. exploratory research.

D. conclusive research.
23. Alex has found that investment real estate buyers and residential real estate buyers both respond positively to his marketing communication message. Alex has identified _______ that respond similarly to his marketing efforts.

A. geographic segments

B. market segments

C. mass-customization consumers

D. self-concept customers

24. McDonald's used marketing research to develop a store redesign program worldwide. Among the recommendations from the marketing research were efforts for McDonald's to

A. create a quiet, more-private area for customers who wanted a more intimate meeting space.

B. eliminate drive-throughs in all future new restaurants.

C. identify three actionable segments, each with specific design needs.

D. abandon its traditional red-and-yellow color scheme for a more patriotic red, white, and blue.

25. Psychographics is the segmentation method that delves into how consumers

A. describe themselves.

B. watch television.

C. adjust to demographic changes.

D. allocate scarce incomes on a variety of goods and services.
Submitted: 5 years ago.
Category: Homework

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