TEST BANK For Marketing: Real People, Real Choices
11th Edition by Solomon; Marshall; Stuart
Explain the following terms as used in marketing:
Segmentation - ANSWER: Process of dividing a larger market into smaller pieces
based on one or more meaningfully shared characteristics
Segmentation variables - ANSWER: Dimensions that divide the total market into
fairly homogeneous groups, each with different needs and preferences
Generation y - ANSWER: Groups of consumers born between 1979 and 1994
Generation x - ANSWER: Group of consumers born between 1965 and 1978. They are
known as the slackers and busters for "baby bust")
Baby Boomers - ANSWER: The group of people born between 1946.
Metrosexual - ANSWER: Straight, urban male who is keenly interested in fashion,
home design, gourmet cooking, and personal care
Psychographics - ANSWER: The use of psychological, sociological, and
anthropological factors to construct market segments. Link to the Vals strategy
Behavioral Segmention - ANSWER: Technique that divides consumers into segments
on the basis of how they act toward, feel about, or use a good or service
Positioning - ANSWER: Developing a marketing strategy to influence how a particular
market segment perceives a good or service in comparison to the competition. 4
stage of position: competitor's position, competitor's advantage, finalize marketing
mix, evaluate responses and modify as need.
Core Product - ANSWER: The benefits the product will provide for consumers or
business customers.
Actual Product - ANSWER: The physical good or the delivered service that supplier
the desired benefit.
Augmented Product - ANSWER: The actual product plus other supporting features
such as a warranty, credit, delivery, installation, and repair service after the sale.
11th Edition by Solomon; Marshall; Stuart
Explain the following terms as used in marketing:
Segmentation - ANSWER: Process of dividing a larger market into smaller pieces
based on one or more meaningfully shared characteristics
Segmentation variables - ANSWER: Dimensions that divide the total market into
fairly homogeneous groups, each with different needs and preferences
Generation y - ANSWER: Groups of consumers born between 1979 and 1994
Generation x - ANSWER: Group of consumers born between 1965 and 1978. They are
known as the slackers and busters for "baby bust")
Baby Boomers - ANSWER: The group of people born between 1946.
Metrosexual - ANSWER: Straight, urban male who is keenly interested in fashion,
home design, gourmet cooking, and personal care
Psychographics - ANSWER: The use of psychological, sociological, and
anthropological factors to construct market segments. Link to the Vals strategy
Behavioral Segmention - ANSWER: Technique that divides consumers into segments
on the basis of how they act toward, feel about, or use a good or service
Positioning - ANSWER: Developing a marketing strategy to influence how a particular
market segment perceives a good or service in comparison to the competition. 4
stage of position: competitor's position, competitor's advantage, finalize marketing
mix, evaluate responses and modify as need.
Core Product - ANSWER: The benefits the product will provide for consumers or
business customers.
Actual Product - ANSWER: The physical good or the delivered service that supplier
the desired benefit.
Augmented Product - ANSWER: The actual product plus other supporting features
such as a warranty, credit, delivery, installation, and repair service after the sale.
