Question 1

Explain the philosophy of customer relationship management (CRM).

Accepted Answer

Customer relationship management (CRM)pr...

Question 2

CRM stands for ________.

Accepted Answer

A)  consumer relationship marketing
B)  consumer retention management
C)  customer relationship management
D)  customer retention marketing
E)  consumer response management

Question 3

The final stage in one-to-one marketing is to identify customers in terms of both their needs and their value to the company.

Accepted Answer

A) True 
 B)False

Question 4

Tropicana Essentials Healthy Heart targets consumers who like orange juice and who also want extra vitamins but no sodium.Explain how Tropicana uses behavioral segmentation in this example.

Accepted Answer

Behavioral segmentation categorizes cons...

Question 5

Average collectors of an artist's miniatures will buy four new ones each year.The collectibles are available at a number of retail locations and from several catalog retailers.To ensure she gets a greater ________,the owner of The Door Gift Shop sends her customers who are collectors a postcard every time the store adds a new one to her store's inventory.

Accepted Answer

A)  share of communication
B)  segment profile
C)  customer allocation
D)  share of customer
E)  brand perception

Question 6

The direct cause of market fragmentation is the large number of new products introduced annually.

Accepted Answer

A) True 
 B)False

Question 7

In one-to-one marketing,after a marketer has identified customers and knows them in as much detail as possible,the next step is for the marketer to ________.

Accepted Answer

A)  interact with the customers and find ways to improve cost efficiency
B)  make efficiency of interactions with customers the priority
C)  differentiate these customers in terms of both their needs and their value to the company
D)  customize some aspects of the products or services offered to each customer
E)  implement a mass customization program

Question 8

Magazines targeted to people who love to in-line skate,to people who enjoy cooking,and to people who prefer a simpler lifestyle use ________ segmentation variables.

Accepted Answer

A)  demographic
B)  ethnographic
C)  geodemographic
D)  socioeconomic
E)  psychographic

Question 9

The term share of customer is synonymous with share of market.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following best defines demographics?

Accepted Answer

A)  statistics that can be used to segment populations on the basis of what people do with a product
B)  statistics that can be used to segment populations on the basis of when people use a product
C)  qualitative data that can be used to explain why seemingly homogeneous consumer groups do not share core characteristics
D)  statistics that can be used to segment populations on the basis of shared attitudes,opinions,and interests
E)  statistics that measure observable aspects of a population

Question 11

Explain the major steps in the target marketing process.

Accepted Answer

The first step is market segmentation: d...

Question 12

If Sam described Coca-Cola as an all-American,Pepsi-Cola as a young daredevil,and Dr.Pepper as a nonconformist,he would be describing the sodas' ________.

Accepted Answer

A)  VALS2 profiles
B)  target markets
C)  brand personalities
D)  NAICS classifications
E)  trade promotions

Question 13

The owner of a pet grooming salon wants to calculate customer equity.Which of the following would be a step the owner of this pet grooming salon should complete?

Accepted Answer

A)  Compare investments made by the salon owner in acquiring the customer to the total amount of purchases made by the customer.
B)  Compare investments made by the salon owner to retain this customer to the total amount of taxes the salon owner pays.
C)  Ask the customer if she is planning on getting any new pets.
D)  Investigate how many other pet grooming salons are within five miles to determine the likelihood of this pet owner returning to this salon.
E)  Determine the age of the pet to estimate how much longer this customer may need the services of the salon.

Question 14

How might a marketer benefit most from using PRIZM?

Accepted Answer

People and locations can be se...

Question 15

Many marketing experts advocate ________ programs that allow a company to talk to individual customers and adjust elements of the marketing mix to satisfy the specific needs of each customer.

Accepted Answer

A)  customer relationship management
B)  psychographic segmentation
C)  transactional management
D)  B2B marketing
E)  C2C marketing

Question 16

Perceptual maps are tools for identifying the positions of brands in consumers' minds.

Accepted Answer

A) True 
 B)False

Question 17

You work for a travel agency.Business has been slow,and you want to suggest some promotions targeted to specific market segments.What three psychographic segmentation variables would you recommend using?

Accepted Answer

Students' answers will vary.Many student...

Question 18

The VALS2 system is a crucial part of geodemographic segmentation.

Accepted Answer

A) True 
 B)False

Question 19

CRM firms focus on increasing their ________,not share of market.

Accepted Answer

A)  share of profit
B)  share of audience
C)  share of segment
D)  share of usage
E)  share of customers

Question 20

When marketers at Procter & Gamble selected Generation Y,a demographic that includes college students,as an untapped group of potential customers for their Febreze line of products,they were executing which of the following?

Accepted Answer

A)  market segmenting
B)  undifferentiated targeting
C)  differentiation
D)  targeting
E)  positioning

Exam 7: Sharpen the Focus: Target Marketing Strategies and Customer Relationship Management

You work for a travel agency.Business has been slow,and you want to suggest some promotions targeted to specific market segments.What three psychographic segmentation variables would you recommend using?

Correct Answer
verified
Students' answers will vary.Many student...
View Answer

Perceptual maps are tools for identifying the positions of brands in consumers' minds.

Correct Answer
verified

Correct Answer
verified

Many marketing experts advocate ________ programs that allow a company to talk to individual customers and adjust elements of the marketing mix to satisfy the specific needs of each customer.

Correct Answer
verified

Tropicana Essentials Healthy Heart targets consumers who like orange juice and who also want extra vitamins but no sodium.Explain how Tropicana uses behavioral segmentation in this example.

Correct Answer
verified
Behavioral segmentation categorizes cons...
View Answer

The VALS2 system is a crucial part of geodemographic segmentation.

Correct Answer
verified

When marketers at Procter & Gamble selected Generation Y,a demographic that includes college students,as an untapped group of potential customers for their Febreze line of products,they were executing which of the following?

Correct Answer
verified

In one-to-one marketing,after a marketer has identified customers and knows them in as much detail as possible,the next step is for the marketer to ________.

Correct Answer
verified

If Sam described Coca-Cola as an all-American,Pepsi-Cola as a young daredevil,and Dr.Pepper as a nonconformist,he would be describing the sodas' ________.

Correct Answer
verified

How might a marketer benefit most from using PRIZM?

Correct Answer
verified
People and locations can be se...
View Answer

Explain the philosophy of customer relationship management (CRM).

Correct Answer
verified
Customer relationship management (CRM)pr...
View Answer

Magazines targeted to people who love to in-line skate,to people who enjoy cooking,and to people who prefer a simpler lifestyle use ________ segmentation variables.

Correct Answer
verified

The direct cause of market fragmentation is the large number of new products introduced annually.

Correct Answer
verified

The final stage in one-to-one marketing is to identify customers in terms of both their needs and their value to the company.

Correct Answer
verified

Which of the following best defines demographics?

Correct Answer
verified

CRM stands for ________.

Correct Answer
verified

The owner of a pet grooming salon wants to calculate customer equity.Which of the following would be a step the owner of this pet grooming salon should complete?

Correct Answer
verified

CRM firms focus on increasing their ________,not share of market.

Correct Answer
verified

The term share of customer is synonymous with share of market.

Correct Answer
verified

Explain the major steps in the target marketing process.

Correct Answer
verified
The first step is market segmentation: d...
View Answer

Exam 7: Sharpen the Focus: Target Marketing Strategies and Customer Relationship Management

You work for a travel agency.Business has been slow,and you want to suggest some promotions targeted to specific market segments.What three psychographic segmentation variables would you recommend using?

Correct AnswerverifiedStudents' answers will vary.Many student...View AnswerShow Answer

Perceptual maps are tools for identifying the positions of brands in consumers' minds.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Many marketing experts advocate ________ programs that allow a company to talk to individual customers and adjust elements of the marketing mix to satisfy the specific needs of each customer.

Correct AnswerverifiedShow Answer

Tropicana Essentials Healthy Heart targets consumers who like orange juice and who also want extra vitamins but no sodium.Explain how Tropicana uses behavioral segmentation in this example.

Correct AnswerverifiedBehavioral segmentation categorizes cons...View AnswerShow Answer

The VALS2 system is a crucial part of geodemographic segmentation.

Correct AnswerverifiedShow Answer

When marketers at Procter & Gamble selected Generation Y,a demographic that includes college students,as an untapped group of potential customers for their Febreze line of products,they were executing which of the following?

Correct AnswerverifiedShow Answer

In one-to-one marketing,after a marketer has identified customers and knows them in as much detail as possible,the next step is for the marketer to ________.

Correct AnswerverifiedShow Answer

If Sam described Coca-Cola as an all-American,Pepsi-Cola as a young daredevil,and Dr.Pepper as a nonconformist,he would be describing the sodas' ________.

Correct AnswerverifiedShow Answer

How might a marketer benefit most from using PRIZM?

Correct AnswerverifiedPeople and locations can be se...View AnswerShow Answer

Explain the philosophy of customer relationship management (CRM).

Correct AnswerverifiedCustomer relationship management (CRM)pr...View AnswerShow Answer

Magazines targeted to people who love to in-line skate,to people who enjoy cooking,and to people who prefer a simpler lifestyle use ________ segmentation variables.

Correct AnswerverifiedShow Answer

The direct cause of market fragmentation is the large number of new products introduced annually.

Correct AnswerverifiedShow Answer

The final stage in one-to-one marketing is to identify customers in terms of both their needs and their value to the company.

Correct AnswerverifiedShow Answer

Which of the following best defines demographics?

Correct AnswerverifiedShow Answer

CRM stands for ________.

Correct AnswerverifiedShow Answer

The owner of a pet grooming salon wants to calculate customer equity.Which of the following would be a step the owner of this pet grooming salon should complete?

Correct AnswerverifiedShow Answer

CRM firms focus on increasing their ________,not share of market.

Correct AnswerverifiedShow Answer

The term share of customer is synonymous with share of market.

Correct AnswerverifiedShow Answer

Explain the major steps in the target marketing process.

Correct AnswerverifiedThe first step is market segmentation: d...View AnswerShow Answer

Correct Answer
verified
Students' answers will vary.Many student...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Behavioral segmentation categorizes cons...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
People and locations can be se...
View Answer

Correct Answer
verified
Customer relationship management (CRM)pr...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The first step is market segmentation: d...
View Answer