Marketing Real People, Real Choices Exam #7
SOLVED
Segmentation - correct answer Process of dividing a larger market into smaller pieces
based on one or more meaningfully shared characteristics
Segmentation variables - correct answer Dimensions that divide the total market into
fairly homogeneous groups, each with different needs and preferences
Generation y - correct answer Groups of consumers born between 1979 and 1994
Generation x - correct answer Group of consumers born between 1965 and 1978. They
are known as the slackers and busters for "baby bust")
Baby Boomers - correct answer The group of people born between 1946.
Metrosexual - correct answer Straight, urban male who is keenly interested in fashion,
home design, gourmet cooking, and personal care
Psychographics - correct answer The use of psychological, sociological, and
anthropological factors to construct market segments. Link to the Vals strategy
Behavioral Segmention - correct answer Technique that divides consumers into
segments on the basis of how they act toward, feel about, or use a good or service
Positioning - correct 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 - correct answer The benefits the product will provide for consumers or
business customers.
Actual Product - correct answer The physical good or the delivered service that supplier
the desired benefit.
Augmented Product - correct answer The actual product plus other supporting features
such as a warranty, credit, delivery, installation, and repair service after the sale.
Convenience Product - correct answer A consumer good and service that is usually low
priced, widely available, and purchased frequently with a minimum of comparison and
effort.
SOLVED
Segmentation - correct answer Process of dividing a larger market into smaller pieces
based on one or more meaningfully shared characteristics
Segmentation variables - correct answer Dimensions that divide the total market into
fairly homogeneous groups, each with different needs and preferences
Generation y - correct answer Groups of consumers born between 1979 and 1994
Generation x - correct answer Group of consumers born between 1965 and 1978. They
are known as the slackers and busters for "baby bust")
Baby Boomers - correct answer The group of people born between 1946.
Metrosexual - correct answer Straight, urban male who is keenly interested in fashion,
home design, gourmet cooking, and personal care
Psychographics - correct answer The use of psychological, sociological, and
anthropological factors to construct market segments. Link to the Vals strategy
Behavioral Segmention - correct answer Technique that divides consumers into
segments on the basis of how they act toward, feel about, or use a good or service
Positioning - correct 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 - correct answer The benefits the product will provide for consumers or
business customers.
Actual Product - correct answer The physical good or the delivered service that supplier
the desired benefit.
Augmented Product - correct answer The actual product plus other supporting features
such as a warranty, credit, delivery, installation, and repair service after the sale.
Convenience Product - correct answer A consumer good and service that is usually low
priced, widely available, and purchased frequently with a minimum of comparison and
effort.
