Question 1

A segment is unattractive if the company's suppliers are able to raise prices or reduce quantity supplied.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following statements about Gen Yers is true?

Accepted Answer

A)  They are selective, confident, and impatient. 
B)  They are more likely to associate retirement with "the beginning of the end." 
C)  They are more pragmatic and individualistic. 
D)  They were born between 1964 and 1978. 
E)  They were the first generation to find surpassing their parents' standard of living a serious challenge. 
A)  They are selective, confident, and impatient. 
B)  They are more likely to associate retirement with "the beginning of the end." 
C)  They are more pragmatic and individualistic. 
D)  They were born between 1964 and 1978. 
E)  They were the first generation to find surpassing their parents' standard of living a serious challenge.

Question 3

A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can help identify the products' strengths.

Accepted Answer

A)  switchers 
B)  split loyals 
C)  antiloyals 
D)  shifting loyals 
E)  hard-core loyals 
A)  switchers 
B)  split loyals 
C)  antiloyals 
D)  shifting loyals 
E)  hard-core loyals

Question 4

All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs, a strong market presence, operating economies through specializing in production, distribution, and promotion.

Accepted Answer

A)  single-segment concentration 
B)  selective specialization 
C)  product specialization 
D)  market specialization 
E)  full market coverage 
A)  single-segment concentration 
B)  selective specialization 
C)  product specialization 
D)  market specialization 
E)  full market coverage

Question 5

When a symphony orchestra targets people who have broad cultural interests, rather than only those who regularly attend concerts, the orchestra is targeting ________.

Accepted Answer

A)  market mavens 
B)  strategic segments 
C)  supersegments 
D)  occasion segments 
E)  psychodemographic segments 
A)  market mavens 
B)  strategic segments 
C)  supersegments 
D)  occasion segments 
E)  psychodemographic segments

Question 6

Which of the following statements about Gen Xers is true?

Accepted Answer

A)  Gen Xers are more optimistic and team-oriented. 
B)  Gen Xers are selective, confident, and impatient. 
C)  Gen Xers are highly socially conscious and concerned about environmental issues. 
D)  Gen Xers feel self-sufficiency and the ability to handle any circumstance are key. 
E)  Technology is a barrier for Gen Xers. 
A)  Gen Xers are more optimistic and team-oriented. 
B)  Gen Xers are selective, confident, and impatient. 
C)  Gen Xers are highly socially conscious and concerned about environmental issues. 
D)  Gen Xers feel self-sufficiency and the ability to handle any circumstance are key. 
E)  Technology is a barrier for Gen Xers.

Question 7

Which of the following statements is true about the five forces identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment?

Accepted Answer

A)  A segment is unattractive if the company's suppliers are unable to raise prices or reduce quantity supplied. 
B)  A segment is unattractive if buyers possess strong or growing bargaining power. 
C)  A segment is attractive when there are actual or potential substitutes for the product. 
D)  A segment is attractive if it already contains numerous, strong, or aggressive competitors. 
E)  The most attractive segment is one in which entry barriers are low and exit barriers are high. 
A)  A segment is unattractive if the company's suppliers are unable to raise prices or reduce quantity supplied. 
B)  A segment is unattractive if buyers possess strong or growing bargaining power. 
C)  A segment is attractive when there are actual or potential substitutes for the product. 
D)  A segment is attractive if it already contains numerous, strong, or aggressive competitors. 
E)  The most attractive segment is one in which entry barriers are low and exit barriers are high.

Question 8

Although we can make distinctions between them, different generational cohorts also influence each other. Give an example of this.

Accepted Answer

Many members of Generation Y a

Question 9

In ________ marketing, the firm ignores segment differences and goes after the whole market with one offer.

Accepted Answer

A)  niche 
B)  mass 
C)  guerrilla 
D)  segmented 
E)  differentiated 
A)  niche 
B)  mass 
C)  guerrilla 
D)  segmented 
E)  differentiated

Question 10

Robert is the owner of an automobile manufacturing company. He calls for a board meeting and tells his directors that he wants to build a car that lets the users experience power and exhilaration. He tells them that the car must allow his users to soar from 0-60 mph in about 4 seconds. He also adds in that the price of the car must be affordable enough for anybody making a good salary. In accordance with the given scenario, Robert is trying to segment the market on the basis of ________.

Accepted Answer

A)  occupation 
B)  family size 
C)  benefits 
D)  nationality 
E)  user status 
A)  occupation 
B)  family size 
C)  benefits 
D)  nationality 
E)  user status

Question 11

A market segment consists of a group of consumers who share a similar set of needs and wants.

Accepted Answer

A) True 
 B)False

Question 12

Briefly describe product specialization and market specialization.

Accepted Answer

With product specialization, the firm se

Question 13

Companies following a market specialization strategy offer one product to as many markets as possible.

Accepted Answer

A) True 
 B)False

Question 14

Beltway Boomers are the nation's tech-savvy singles and couples living in fashionable neighborhoods on the urban fringe.

Accepted Answer

A) True 
 B)False

Question 15

When Amy goes shopping for clothes, she goes into every store in the mall looking for the best deal. She is very price conscious. On the basis of loyalty status, Amy can be described as a(n) ________.

Accepted Answer

A)  switcher 
B)  split loyal 
C)  shifting loyal 
D)  hard-core loyal 
E)  anti-loyal 
A)  switcher 
B)  split loyal 
C)  shifting loyal 
D)  hard-core loyal 
E)  anti-loyal

Question 16

Baby boomers are less likely to associate retirement with "the beginning of the end" and see it instead as a new chapter in their lives with new activities, interests, careers, or even relationships.

Accepted Answer

A) True 
 B)False

Question 17

With respect to market offerings, if a marketer emphasizes a naked solution, he or she is emphasizing the product and service elements that all segment members value.

Accepted Answer

A) True 
 B)False

Question 18

The VALS segmentation system has evolved into an eight-part typology. List the categories of the eight-part typology.

Accepted Answer

The eight parts of the VALS se

Question 19

Jose and Erika have just divorced. Which of the following demographic segmentation subsegment formats might be used by marketers to reach Jose or Erika?

Accepted Answer

A)  life stage 
B)  benefits 
C)  age segment 
D)  personality type 
E)  social class 
A)  life stage 
B)  benefits 
C)  age segment 
D)  personality type 
E)  social class

Question 20

Situational factor segmentation variables in the business marketplace include urgency, specific application, and size of order.

Accepted Answer

A) True 
 B)False

Exam 9: Identifying Market Segments and Targets

A segment is unattractive if the company's suppliers are able to raise prices or reduce quantity supplied.

Which of the following statements about Gen Yers is true?

A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can help identify the products' strengths.

All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs, a strong market presence, operating economies through specializing in production, distribution, and promotion.

When a symphony orchestra targets people who have broad cultural interests, rather than only those who regularly attend concerts, the orchestra is targeting ________.

Which of the following statements about Gen Xers is true?

Which of the following statements is true about the five forces identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment?

Although we can make distinctions between them, different generational cohorts also influence each other. Give an example of this.

In ________ marketing, the firm ignores segment differences and goes after the whole market with one offer.

A market segment consists of a group of consumers who share a similar set of needs and wants.

Briefly describe product specialization and market specialization.

Companies following a market specialization strategy offer one product to as many markets as possible.

Beltway Boomers are the nation's tech-savvy singles and couples living in fashionable neighborhoods on the urban fringe.

When Amy goes shopping for clothes, she goes into every store in the mall looking for the best deal. She is very price conscious. On the basis of loyalty status, Amy can be described as a(n) ________.

Baby boomers are less likely to associate retirement with "the beginning of the end" and see it instead as a new chapter in their lives with new activities, interests, careers, or even relationships.

With respect to market offerings, if a marketer emphasizes a naked solution, he or she is emphasizing the product and service elements that all segment members value.

The VALS segmentation system has evolved into an eight-part typology. List the categories of the eight-part typology.

Jose and Erika have just divorced. Which of the following demographic segmentation subsegment formats might be used by marketers to reach Jose or Erika?

Situational factor segmentation variables in the business marketplace include urgency, specific application, and size of order.

Defining Marketing for the New Realities

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Tapping Into Global Markets

Crafting the Brand Positioning

Creating Brand Equity

Addressing Competition and Driving Growth

Setting Product Strategy

Designing and Managing Services

Introducing New Market Offerings

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Managing a Holistic Marketing Organization for the Long Run

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