Week 2 Quiz

MKT/571 Week 2 Quiz

Which of the following is known as the process of creating a segment storyboard to test the attractiveness of each segment?

Marketing-mix strategy

Segment attractiveness

Segment acid test

Needs-based segmentation

Which of the following is used to determine a competitive frame of reference for brands to compete against other brands due to their closeness as substitutes?

Product membership

Industry membership

Market membership

Category membership

Which of the following marketing strategies does not concentrate on recognizing differences in customers’ needs in the organization?

Undifferentiated

Niche

Concentrated

Direct

Which of the following is known in marketing as attributes of a product or service that may not be unique to the product or service?

Points-of-difference

Points-of-parity

Points-of-reference

Brand reference

Which market is known as the invisible market segment?

Caucasian American

Hispanic American

Asian American

African American

When purchasing, in which state does the consumer set a minimum acceptable cutoff level for each attribute and then makes a buying decision?

Lexicographic heuristic

Elimination-by-aspects heuristic

Conjunctive heuristic

Indirect heuristic

When searching for a supplier, which of the following provides the broadest reach of possible suppliers in today’s competitive market environment?

Internet

Business associates

Trade directories

Standard & Poor’s

How many primary groups does VALS classify U.S. adults into based on personality traits and key demographics?

Eight

Two

Nine

Seven

What other dimension helps market segments be measurable, substantial, accessible, and differentiable?

Actionable

Obtainable

Functional

Reasonable