Question 1



    1. The first level of customer relationship marketing is a ________ strategy that recognizes individual customers by name and buying behavior.




















      mass-personalization

      decentralization

      mass-market

      core-segment

      sub-segment

 

2 points




Question 2





    1. When differences in customer needs are small or demographics are not distinctive, a business may elect to use a ________ strategy.




















      small-segment

      vertical integration

      horizontal integration

      mass-market

      niche-segment

2 points

 


Question 3





    1. Niche-segment strategies differ from mass-market strategy in that niche-market strategies ________.




















      address one set of core customer needs of a large market segment

      have no segment focus

      are used when demographics are not distinctive

      are used when the company markets to a closely related attractive segment first

      involve highly refined marketing effort directed at an overlooked, small group of customers

2 points

 


Question 4





    1. Karen is interested in assessing a market segment's attractiveness by analyzing the market demand. Which of the following would be a variable should she assess?




















      number of companies

      ease of entry

      customer familiarity with her company

      market size

      access to channels that reach target customers

2 points

 


Question 5





    1. Which of the following is true about database marketing?




















      It is at the core of customer relationship marketing.

      It assumes that all customers have the same needs.

      It avoids building a more personal relationship between the business and the customer.

      It treats all customers as the same, instead of assuming that each customer is unique.

      It prioritizes creating efficiency through technological advances over building customer relationships.

2 points

 


Question 6





    1. A large-segment strategy differs from a mass-market strategy in that a large-segment strategy ________.




















      addresses one set of core customer needs

      has no segment focus

      is used when demographics are not distinctive

      is used when differences in customer needs are small

      allows customers to build their own products

2 points

 


Question 7





    1. Which of the following is true of needs-based market segments?




















      Relevant demographics that cause differences in needs include investments, size of investment portfolio, and portfolio diversification.

      To make the segments actionable, the observable demographics and behaviors have to be determined.

      The main advantage is that individual customers who fall into each segment can be identified.

      The main disadvantage is that the segments are not directly based on specific customer needs.

      The usage behaviors that cause differences in needs include income and assets.

2 points

 


Question 8





    1. Differences in values, attitudes, and interests are examples of ________ forces shaping consumer needs.




















      demographic

      lifestyle

      usage behavior

      geographic

      firmographic

2 points

 


Question 9





    1. Mass-customization differs from mass-personalization in that mass-customization ________.




















      is a customer relationship marketing strategy

      assumes that all customers have the same needs

      allows each customer to build a custom product to meet that customer's specific needs

      involves pursuing a large-segment strategy

      recognizes individual customers by name, needs, and buying behavior.

2 points

 


Question 10





    1. Which of the following forces that shape segment attractiveness include market size, growth rate, and growth potential?




















      competitive intensity

      market access

      market demand

      profitability

      feasibility

2 points

 


Question 11





    1. When a market is segmented and marketing resources are limited, a business could elect to pursue a large-segment strategy.

      True


      False


1 points

 


Question 12





    1. When pursuing a large-segment strategy, a business presents a generic value proposition built around the core customer need and the business's generic positioning strategy to the entire market.

      True


      False


1 points

 


Question 13





    1. Common to most assessments of segment attractiveness are measurements of market demand, competitive intensity, and market access.

      True


      False


1 points

 


Question 14





    1. In order to implement a mass-personalization strategy, a business's database marketing system must be able to track individual customers and their buying history.

      True


      False


1 points

 

Question 15





Both consumers and businesses have market needs, and the factors influencing their needs are essentially the same.

 

True

 

False

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