Question 1. 1. Why should marketers analyze the costs and benefits of whether to implement a segmentation approach or not? (Points : 1) |
[removed] To identify whether the targeted segment includes enough individuals to justify the segmentation approach.
[removed] To discover whether individuals in the target segment are likely to have similar responses to a specific marketing action.
[removed] To identify the need/desire of the target segment that creates demand for the offering for sale.
[removed] To deduce whether the value gained is sufficient to justify the increased marketing expense required by a segmentation strategy.
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Question 2. 2. Which answer BEST describes the foundational premise of relationship marketing? (Points : 1) |
[removed] Aligning a company around its product quality requires drawing on all available customer information.
[removed] Encouraging customization of products causes social bonds to form.
[removed] The only way to trigger new relationships to form is through reliance on pricing incentives.
[removed] Repeated contact between sellers and buyers creates relationships that can strengthen customer loyalty over time.
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Question 3. 3. Which statement BEST defines Customer Relationship Management? (Points : 1) |
[removed] An effective means of dealing with the reams of data that result from serving large customer markets.
[removed] A marketing approach designed to increase marketing campaign performance through more efficient use of resources.
[removed] A management philosophy centered on customers, supported by a data warehouse and analytic processes.
[removed] A tool for aggregating customers’ demographic, geographic, and behavioral traits into unified profiles for enhanced relationship management.
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Question 4. 4. Which answer BEST describes how marketers can trigger consumers’ emotional process and thus motivate them to buy. (Points : 1) |
[removed] By promising a benefit associated with a reduced negative emotion.
[removed] By promising a benefit associated with an increased positive emotion.
[removed] By promising a benefit associated with either an increased positive or a reduced negative emotion.
[removed] By promising a benefit associated with physiological, safety, belonging, esteem, or self- actualization.
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Question 5. 5. In 2010, the fertility rate among Hispanics was almost 40 percent higher than the national average. To which trend listed below does this statistic relate? (Points : 1) |
[removed] Increasingly diverse age/sex population distribution.
[removed] Increasing variety in U.S. household types.
[removed] Increasing complexity in America’s consumer population.
[removed] The danger of oversimplification in generalizing about a cohort, such as females.
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Question 6. 6. Which statement illustrates how the business buying decision process DIFFERS from the consumer purchase decision process? (Points : 1) |
[removed] Business buyers’ needs and desires arise from derived demand.
[removed] Reference groups influence the business buying process more than the consumer buying process.
[removed] Business buyers are more influenced by impersonal environmental factors.
[removed] The business buyer goes through fewer steps than the consumer.
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Question 7. 7. Which of the following BEST describes one goal of environmental scanning? (Points : 1) |
[removed] Monitoring publics that may be spreading good or bad word of mouth.
[removed] Providing a view of coming changes in the marketing environment, which are either under way or possible in the future.
[removed] Estimating the size of customer markets, which may be consumer, business, reseller, or government buyers.
[removed] Identifying technological innovation that could change demand for a company’s products.
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Question 8. 8. Which of the following BEST describes the process known as “data cleansing”? (Points : 1) |
[removed] Basic analytics performed on a data set to split addresses containing many consumers into separate records.
[removed] Reviewing individual records to detect and correct or delete inaccurate records to ensure a set of data is accurate and useful.
[removed] Augmenting a data set with demographic and other information to enhance direct marketing.
[removed] Removal of records from a data set because they are too long.
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Question 9. 9. Specific market segments are more likely to buy certain offerings than the general population. How does this insight assist marketers? (Points : 1) |
[removed] Marketers apply psychology to deliver customer value more efficiently and cost-effectively.
[removed] Marketers use segmentation to concentrate resources on the most likely buyers.
[removed] Marketers position their offerings on generic emotional benefits designed to appeal to a broad spectrum of consumers.
[removed] Marketers assign individuals to clusters by using reference groups, aspirations, and family roles.
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Question 10. 10. Which of the following was identified as an economic trend that is now significantly affecting U.S. consumers? (Points : 1) |
[removed] Increasing disparity in income
[removed] Persistent inflation
[removed] Depletion of nonrenewable resources
[removed] Anxiety about globalization
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11 years ago
bus330_week_3_quiz_all_correct.docx
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