fall 10 quiz 3 - Yourlocation: ViewAttempt1of3 Title...

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Jump to Navigation Frame   Your location: Assessments  ›  View All Submissions  › View Attempt  View Attempt 1 of 3  Title: MAR 3023 Quiz03 Started: September 26, 2010 12:57 PM Submitted: September 26, 2010 1:24 PM Time spent: 00:27:07  Total score: 9/10 = 90%   Total score adjusted by 0.0  Maximum possible score: 10  1.   Bath Boutique is a small company that sells specialty bath products at a premium price. They do not have  much competition and are able to serve their small group of customers very well by providing excellent service.  Bath Boutique uses which kind of targeting strategy?    Student Response Value Correct Answer Feedback 1.  multisegment       2.  mass marketing  0%       3.  concentration       4.  segmentation       5.  mass customization       General Feedback: Lecture page 49  A) A multisegment approach focuses on serving multiple segments with products designed specifically to meet  the needs of consumers in each segment. For example, General Motors produces different types of  automobiles for different market segments.  B) Mass marketing involves targeting a product or service to every potential segment and is employed when the  market segments are not easily identifiable. Mass marketing is now rarely used as marketers have found  innovative ways to segment markets. A good example of mass marketing was the Ford Model T which only 
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came in one color and style.  C) Concentration is a targeting strategy that involves pursuing a particular segment within a market, and is also  known as niche marketing. Bath Boutique is employing a concentration strategy since they specialize in selling  bath products.  D) By definition market segmentation is the search for relatively homogeneous clusters in a heterogeneous  market.  E) Mass customization is a targeting strategy that attempts to effectively serve a segment of one. Each  individual consumer is seen as a segment and is generally given a menu of item from which to design or create  a customized product. Mass customization can also be defined as tailoring goods or services to the tastes of  individual customers on a high-volume scale. More companies are beginning to use this approach to targeting.  For example, Nike employs a mass customization strategy that allows its customers to create their own  personal tennis shoe.  Score: 0/1    2.   Build-A-Bear Workshop provides unique service to each individual customer. They are able to do this through  an efficient assembly line-like experience in which customers choose which features (bows, hats, accessories,  etc.) to add to their stuffed animal. Build-A-Bear's targeting strategy is: 
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