Question 1

Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as

Accepted Answer

A) product placement. 
B) perceptual mapping. 
C) product positioning. 
D) product repositioning. 
E) product differentiation. 
A) product placement. 
B) perceptual mapping. 
C) product positioning. 
D) product repositioning. 
E) product differentiation.

Question 2

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

Accepted Answer

A) a listing of all prospective brands and products 
B) consumer judgments about the important attributes for a product or brand class 
C) managerial judgments about how consumers perceive products 
D) rank order of the ratings of an existing brand's preference relative to its competitors 
E) detailed explanations of why consumers make the choices they do 
A) a listing of all prospective brands and products 
B) consumer judgments about the important attributes for a product or brand class 
C) managerial judgments about how consumers perceive products 
D) rank order of the ratings of an existing brand's preference relative to its competitors 
E) detailed explanations of why consumers make the choices they do

Question 3

Which of the following is NOT 
a reason to segment a market?

Accepted Answer

A) The ability to assign buyers to a segment is simple and cost-effective. 
B) It would cause an increase in market share or profit. 
C) All the buyers in the entire market have similar wants and needs. 
D) There is a potential marketing action to reach it. 
E) There are different wants and needs of buyers in the entire market. 
A) The ability to assign buyers to a segment is simple and cost-effective. 
B) It would cause an increase in market share or profit. 
C) All the buyers in the entire market have similar wants and needs. 
D) There is a potential marketing action to reach it. 
E) There are different wants and needs of buyers in the entire market.

Question 4

ChoiceShirts is an online company that makes made-to-order T-shirts.Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch.This is an example of

Accepted Answer

A) family branding. 
B) mass customization. 
C) multiple products and multiple market segments. 
D) one product and multiple market segments. 
E) specialty customization. 
A) family branding. 
B) mass customization. 
C) multiple products and multiple market segments. 
D) one product and multiple market segments. 
E) specialty customization.

Question 5

Behavioral segmentation may be based on

Accepted Answer

A) lifestyles and demographics. 
B) retailer and wholesaler behaviors. 
C) geographic and demographic criteria. 
D) product features and usage rate. 
E) demand and supply. 
A) lifestyles and demographics. 
B) retailer and wholesaler behaviors. 
C) geographic and demographic criteria. 
D) product features and usage rate. 
E) demand and supply.

Question 6

Usage rate refers to

Accepted Answer

A) the percentage of total possible users divided by the total number of consumers who actually use a product or service. 
B) the average number of times a customer uses a product or service. 
C) quantity consumed or patronage (store visits)during a specific period. 
D) the maximum number of times a customer uses a product or service. 
E) the profits a firm earns from customers who consume a particular product or service. 
A) the percentage of total possible users divided by the total number of consumers who actually use a product or service. 
B) the average number of times a customer uses a product or service. 
C) quantity consumed or patronage (store visits)during a specific period. 
D) the maximum number of times a customer uses a product or service. 
E) the profits a firm earns from customers who consume a particular product or service.

Question 7

The best segmentation approach is the one that

Accepted Answer

A) makes it easiest to reach the segment. 
B) maximizes the opportunity for future profit and ROI. 
C) recognizes different needs of buyers among different segments. 
D) recognizes similarities of needs of potential buyers within a segment. 
E) is simplest and least costly in assigning potential buyers to segments. 
A) makes it easiest to reach the segment. 
B) maximizes the opportunity for future profit and ROI. 
C) recognizes different needs of buyers among different segments. 
D) recognizes similarities of needs of potential buyers within a segment. 
E) is simplest and least costly in assigning potential buyers to segments.

Question 8

When compared to a multiple products,multiple market segments strategy,a one product,multiple market segment strategy

Accepted Answer

A) is a much more effective means of meeting consumers' individual needs. 
B) creates greater savings in production costs. 
C) is a more effective way of meeting organizational objectives. 
D) has significantly higher distribution costs. 
E) is more profitable since a firm can charge the new segments higher prices without changing the product. 
A) is a much more effective means of meeting consumers' individual needs. 
B) creates greater savings in production costs. 
C) is a more effective way of meeting organizational objectives. 
D) has significantly higher distribution costs. 
E) is more profitable since a firm can charge the new segments higher prices without changing the product.

Question 9

The process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization's marketing program.

Accepted Answer

A) self-regulatory industry standards 
B) government regulations 
C) top-level management 
D) buyers' or market needs 
E) controllable environmental factors 
A) self-regulatory industry standards 
B) government regulations 
C) top-level management 
D) buyers' or market needs 
E) controllable environmental factors

Question 10

Product repositioning refers to

Accepted Answer

A) the place a product offering occupies in consumers' minds on important attributes. 
B) using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets. 
C) changing the place an offering occupies in consumers' minds relative to competitive products. 
D) the practice of selling off a firm's least successful product line and redirecting that revenue into a totally new product. 
E) the competitive advantage of one product over another. 
A) the place a product offering occupies in consumers' minds on important attributes. 
B) using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets. 
C) changing the place an offering occupies in consumers' minds relative to competitive products. 
D) the practice of selling off a firm's least successful product line and redirecting that revenue into a totally new product. 
E) the competitive advantage of one product over another.

Question 11

Alka-Seltzer was made originally as a hangover remedy that cured the headache and settled the stomach.Today,you can buy Original Alka-Seltzer,Extra Strength Alka-Seltzer,Alka-Seltzer Morning Relief (for morning headaches and fatigue),and Alka-Seltzer Heartburn Relief.Each Alka-Seltzer product has a different formulation to relieve a specific malady which makes them more specialized than competing products.The maker of Alka-Seltzer is using

Accepted Answer

A) product segmentation. 
B) market sectioning. 
C) product differentiation 
D) product segmentation., 
E) product base development. 
A) product segmentation. 
B) market sectioning. 
C) product differentiation 
D) product segmentation., 
E) product base development.

Question 12

About 3 percent of the population has some degree of allergic reaction,usually mild,to preservatives used in salad bars.Restaurants might consider people with these allergies as a separate segment.To implement this segmentation strategy,restaurants would have to prepare a regular salad bar and a special salad bar for the allergies segment.This multiple product and multiple market segment strategy would have the greatest difficulty meeting which of the following criteria used to form market segments?

Accepted Answer

A) different needs of buyers among different segments 
B) similarity of needs of potential buyers within a segment 
C) simplicity and cost of assigning potential buyers to segments 
D) potential for increased profit and ROI 
E) potential of a marketing action to reach a segment 
A) different needs of buyers among different segments 
B) similarity of needs of potential buyers within a segment 
C) simplicity and cost of assigning potential buyers to segments 
D) potential for increased profit and ROI 
E) potential of a marketing action to reach a segment

Question 13

The Nielsen PRIZM (part of Nielsen Claritas)lifestyle segmentation is based on the belief that "birds of a feather flock together." This type of consumer segmentation is referred to as

Accepted Answer

A) situational segmentation. 
B) socioeconomic segmentation. 
C) geographic segmentation. 
D) psychographic segmentation. 
E) behavioral segmentation. 
A) situational segmentation. 
B) socioeconomic segmentation. 
C) geographic segmentation. 
D) psychographic segmentation. 
E) behavioral segmentation.

Question 14

College dorm residents frequently want to keep and prepare their own food and snacks to save money or have a late night snack.However,their dorm rooms are often woefully short of space.MicroFridge understands this and markets a combination microwave,refrigerator,and freezer targeted to these students.MicroFridge is using which basis of segmentation?

Accepted Answer

A) demographic segmentation 
B) psychographic segmentation 
C) geographic segmentation 
D) behavioral segmentation 
E) socioeconomic segmentation 
A) demographic segmentation 
B) psychographic segmentation 
C) geographic segmentation 
D) behavioral segmentation 
E) socioeconomic segmentation

Question 15

Frequency marketing is a strategy that focuses on

Accepted Answer

A) demographics. 
B) benefits offered. 
C) usage rate. 
D) geography. 
E) lifestyle. 
A) demographics. 
B) benefits offered. 
C) usage rate. 
D) geography. 
E) lifestyle.

Question 16

A national car rental firm targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year.The company is using __________ segmentation.

Accepted Answer

A) geographic 
B) demographic 
C) loyalty 
D) psychographic 
E) behavioral 
A) geographic 
B) demographic 
C) loyalty 
D) psychographic 
E) behavioral

Question 17

Many companies have cut travel budgets so that very few business people are authorized to fly first class.Despite the shrinking pool of business-class travelers,British Airways has grown market share for its transatlantic business class by offering greater comfort.Promotions to frequent fliers stress that passengers can sleep in fully reclining seats and arrive refreshed to carry out a full day's schedule.The segmentation strategy of British Airways is an example of

Accepted Answer

A) life stage segmentation. 
B) lifestyle segmentation. 
C) social class segmentation. 
D) behavioral segmentation. 
E) psychographic segmentation. 
A) life stage segmentation. 
B) lifestyle segmentation. 
C) social class segmentation. 
D) behavioral segmentation. 
E) psychographic segmentation.

Question 18

Which of the following statements about market segmentation for organizational markets is most accurate?

Accepted Answer

A) Criteria for segmenting markets are the same whether the market is composed of consumers or organizations. 
B) Both consumer markets and organizational markets use demographic,geographic,and behavioral bases to segment markets. 
C) Psychographic criteria are just as important in segmenting organizational markets as they are in segmenting consumer markets. 
D) Organizational markets and consumer markets use identical selection criteria. 
E) The greatest difference in market segmentation strategies between consumer and organizational markets is the number of employees employed in the segmentation process. 
A) Criteria for segmenting markets are the same whether the market is composed of consumers or organizations. 
B) Both consumer markets and organizational markets use demographic,geographic,and behavioral bases to segment markets. 
C) Psychographic criteria are just as important in segmenting organizational markets as they are in segmenting consumer markets. 
D) Organizational markets and consumer markets use identical selection criteria. 
E) The greatest difference in market segmentation strategies between consumer and organizational markets is the number of employees employed in the segmentation process.

Question 19

More than half of all U.S.households are composed of only one or two persons,so Aunt Jemima offers one serving meals -such as its Ham & Egg Scramble and Oatmeal Pancakes.Aunt Jemima is using __________ as the basis to segment its market.

Accepted Answer

A) usage rates 
B) usage patterns 
C) behavior characteristics 
D) demographic characteristics 
E) psychographic characteristics 
A) usage rates 
B) usage patterns 
C) behavior characteristics 
D) demographic characteristics 
E) psychographic characteristics

Question 20

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Accepted Answer

A) pay attention to marketing messages. 
B) respond similarly to a marketing action. 
C) be responsive to marketing research. 
D) use the same payment methods. 
E) comply with the organization's core values. 
A) pay attention to marketing messages. 
B) respond similarly to a marketing action. 
C) be responsive to marketing research. 
D) use the same payment methods. 
E) comply with the organization's core values.

Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

Which of the following is NOT a reason to segment a market?

ChoiceShirts is an online company that makes made-to-order T-shirts.Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch.This is an example of

Behavioral segmentation may be based on

Usage rate refers to

The best segmentation approach is the one that

When compared to a multiple products,multiple market segments strategy,a one product,multiple market segment strategy

The process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization's marketing program.

Product repositioning refers to

The Nielsen PRIZM (part of Nielsen Claritas)lifestyle segmentation is based on the belief that "birds of a feather flock together." This type of consumer segmentation is referred to as

Frequency marketing is a strategy that focuses on

A national car rental firm targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year.The company is using __________ segmentation.

Which of the following statements about market segmentation for organizational markets is most accurate?

More than half of all U.S.households are composed of only one or two persons,so Aunt Jemima offers one serving meals -such as its Ham & Egg Scramble and Oatmeal Pancakes.Aunt Jemima is using __________ as the basis to segment its market.

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Creating Customer Relationships and Value Through Marketing

Developing Successful Marketing and Organizational Strategies

Scanning the Marketing Environment, Ethical Behavior and Social Responsibility

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Developing New Products and Services

Managing Successful Products, Services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Buildign an Effective Marketing Plan

Filters

Exam 8: Market Segmentation, Targeting, and Positioning

Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

Which of the following is NOT a reason to segment a market?

ChoiceShirts is an online company that makes made-to-order T-shirts.Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch.This is an example of

Behavioral segmentation may be based on

Usage rate refers to

The best segmentation approach is the one that

When compared to a multiple products,multiple market segments strategy,a one product,multiple market segment strategy

The process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization's marketing program.

Product repositioning refers to

The Nielsen PRIZM (part of Nielsen Claritas)lifestyle segmentation is based on the belief that "birds of a feather flock together." This type of consumer segmentation is referred to as

Frequency marketing is a strategy that focuses on

A national car rental firm targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year.The company is using __________ segmentation.

Which of the following statements about market segmentation for organizational markets is most accurate?

More than half of all U.S.households are composed of only one or two persons,so Aunt Jemima offers one serving meals -such as its Ham & Egg Scramble and Oatmeal Pancakes.Aunt Jemima is using __________ as the basis to segment its market.

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Creating Customer Relationships and Value Through Marketing

Developing Successful Marketing and Organizational Strategies

Scanning the Marketing Environment, Ethical Behavior and Social Responsibility

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Developing New Products and Services

Managing Successful Products, Services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Buildign an Effective Marketing Plan

Filters