Question 1

Determining the size of specific markets within a market-product grid is helpful in determining which target market segments to select and

Accepted Answer

A) how to implement the 80-20 rule. 
B) which products to group into meaningful categories. 
C) how to implement a harvesting strategy. 
D) which product groupings to offer. 
E) which products to reposition. 
A) how to implement the 80-20 rule. 
B) which products to group into meaningful categories. 
C) how to implement a harvesting strategy. 
D) which product groupings to offer. 
E) which products to reposition.

Question 2

You can go to your nearest Hallmark card store and buy a birthday greeting card for a friend and pay $4.50.Or,you can buy a Hallmark card from its new $0.99 line of greeting cards that is not quite as nice in terms of quality materials,but just as sentimental,that are sold at Barnes and Noble bookstores.This is an example of

Accepted Answer

A) mass customization. 
B) organizational synergy. 
C) one product and multiple market segments. 
D) price discrimination. 
E) a "Tiffany/Walmart" strategy. 
A) mass customization. 
B) organizational synergy. 
C) one product and multiple market segments. 
D) price discrimination. 
E) a "Tiffany/Walmart" strategy.

Question 3

To create a market-product grid for bed pillows,the most effective way to segment the market would be using

Accepted Answer

A) the age of the sleeper: less than 18 years of age,18 to 44 years of age,or 45 years and older. 
B) the sleeper's annual income: less than $25,000,$25,000 to $49,999,or $50,000 and over. 
C) the sleeper's gender: male or female. 
D) the time of sleep: day or night. 
E) how the sleeper sleeps: side,back,or stomach. 
A) the age of the sleeper: less than 18 years of age,18 to 44 years of age,or 45 years and older. 
B) the sleeper's annual income: less than $25,000,$25,000 to $49,999,or $50,000 and over. 
C) the sleeper's gender: male or female. 
D) the time of sleep: day or night. 
E) how the sleeper sleeps: side,back,or stomach.

Question 4

Chip-N-Dough Cookie Company will let you select cookies and put a photo of yourself on the tin.This is an example of

Accepted Answer

A) mass customization. 
B) multiple marketing. 
C) target marketing. 
D) product clustering. 
E) repositioning. 
A) mass customization. 
B) multiple marketing. 
C) target marketing. 
D) product clustering. 
E) repositioning.

Question 5

When a new product or a new retail chain steals customers and sales from older existing ones of an organization,it is referred to as

Accepted Answer

A) cannibalization. 
B) amortization. 
C) product appropriation. 
D) product pilfering. 
E) marketing Darwinism. 
A) cannibalization. 
B) amortization. 
C) product appropriation. 
D) product pilfering. 
E) marketing Darwinism.

Question 6

One approach to positioning a new product in a market is __________ positioning,which involves competing directly with competitors on similar product attributes in the same target market.

Accepted Answer

A) perceptual 
B) psychological 
C) differentiation 
D) head-to-head 
E) market 
A) perceptual 
B) psychological 
C) differentiation 
D) head-to-head 
E) market

Question 7

The axes on a perceptual map are

Accepted Answer

A) sales and profitability. 
B) two product attributes,ranging from high to low on that attribute. 
C) market share and market growth rate. 
D) customer perceptions of the firm's product versus the average of all brands in the industry. 
E) customer perceptions of the firm's product versus the brand of the firm's principal competitor. 
A) sales and profitability. 
B) two product attributes,ranging from high to low on that attribute. 
C) market share and market growth rate. 
D) customer perceptions of the firm's product versus the average of all brands in the industry. 
E) customer perceptions of the firm's product versus the brand of the firm's principal competitor.

Question 8

To be identified as a market segment,its members must

Accepted Answer

A) represent a large share of the entire market and have buying power. 
B) have common needs and respond similarly to a marketing action. 
C) have different needs and have potential for future growth. 
D) have different needs and respond similarly to market actions. 
E) have the potential for future growth and increased profit or ROI. 
A) represent a large share of the entire market and have buying power. 
B) have common needs and respond similarly to a marketing action. 
C) have different needs and have potential for future growth. 
D) have different needs and respond similarly to market actions. 
E) have the potential for future growth and increased profit or ROI.

Question 9

Which of the following statements regarding segmentation bases is most accurate?

Accepted Answer

A) The identification of demographic variables is more objective than the identification of psychographic variables,which is more subjective. 
B) Marketers should use segmentation bases in this order to reduce potential costs: behavioral,demographic,psychographic,and geographic. 
C) The identification of psychographic variables is more objective than the identification of demographic variables,which is more subjective. 
D) Behavioral segmentation is based primarily on personality. 
E) Psychographic segmentation is based primarily on product features. 
A) The identification of demographic variables is more objective than the identification of psychographic variables,which is more subjective. 
B) Marketers should use segmentation bases in this order to reduce potential costs: behavioral,demographic,psychographic,and geographic. 
C) The identification of psychographic variables is more objective than the identification of demographic variables,which is more subjective. 
D) Behavioral segmentation is based primarily on personality. 
E) Psychographic segmentation is based primarily on product features.

Question 10

The Zappos segmentation strategy is based on

Accepted Answer

A) offering the best selection of shoes and the best service to online shoppers. 
B) designing shoes for every type of occasion. 
C) dividing all their customers into two distinct segments: people shopping for low price and people shopping for style. 
D) offering the best selection of shoes through multiple channels of distribution. 
E) maintaining the simplest method of price points to make the purchase process as simple as possible for its customers. 
A) offering the best selection of shoes and the best service to online shoppers. 
B) designing shoes for every type of occasion. 
C) dividing all their customers into two distinct segments: people shopping for low price and people shopping for style. 
D) offering the best selection of shoes through multiple channels of distribution. 
E) maintaining the simplest method of price points to make the purchase process as simple as possible for its customers.

Question 11

Which marketing program strategy does a firm use to sell a single product or service to multiple market segments?

Accepted Answer

A) developing and producing another version of the product 
B) manufacturing different products that appeal to different markets 
C) developing separate promotional campaigns for each market 
D) acquiring another firm that has additional products that would appeal to multiple markets 
E) issuing stock to fund additional research and development for new products 
A) developing and producing another version of the product 
B) manufacturing different products that appeal to different markets 
C) developing separate promotional campaigns for each market 
D) acquiring another firm that has additional products that would appeal to multiple markets 
E) issuing stock to fund additional research and development for new products

Question 12

All of the following would be a logical way to group the products Wendy's sells at its restaurants EXCEPT:

Accepted Answer

A) dinner 
B) burgers 
C) breakfast 
D) between-meal snacks 
E) lunch 
A) dinner 
B) burgers 
C) breakfast 
D) between-meal snacks 
E) lunch

Question 13

All of the following are psychographic segmentation variables EXCEPT:

Accepted Answer

A) lifestyle 
B) needs 
C) birth era 
D) VALS 
E) personality 
A) lifestyle 
B) needs 
C) birth era 
D) VALS 
E) personality

Question 14

A recent study by the Aberdeen Group analyzed which segmentation bases were used by the 20 percent most profitable organizations of the 220 surveyed.Which segmentation base did these organizations use most?

Accepted Answer

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

Question 15

When Ann Taylor,a well-known retailer of sophisticated women's clothing,started losing sales to its own LOFT outlets that feature moderately priced casual clothes,Ann Taylor was dealing with the marketing phenomenon known as __________.

Accepted Answer

A) amortization 
B) guerrilla marketing 
C) shrinkage 
D) marketing Darwinism 
E) cannibalization 
A) amortization 
B) guerrilla marketing 
C) shrinkage 
D) marketing Darwinism 
E) cannibalization

Question 16

Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as __________.

Accepted Answer

A) competitive repositioning 
B) position downsizing 
C) differentiation positioning 
D) head-to-head positioning 
E) product distinction positioning 
A) competitive repositioning 
B) position downsizing 
C) differentiation positioning 
D) head-to-head positioning 
E) product distinction positioning

Question 17

Which of the following is an example of a multiple products and multiple market segments strategy?

Accepted Answer

A) College Football magazine selects different covers for essentially the same written content in order to appeal to different geographic markets in the U.S. 
B) A new movie used several different movie trailers.One set of previews showed the action scenes in order to attract one audience and the other set showed romantic scenes to attract another audience. 
C) Ford manufactures SUVs for those who wish to carry lots of people and pickup trucks for those who wish to carry lots of cargo. 
D) Arm and Hammer Baking Soda can be used for baking and to remove odors from refrigerators and litter boxes. 
E) Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women. 
A) College Football magazine selects different covers for essentially the same written content in order to appeal to different geographic markets in the U.S. 
B) A new movie used several different movie trailers.One set of previews showed the action scenes in order to attract one audience and the other set showed romantic scenes to attract another audience. 
C) Ford manufactures SUVs for those who wish to carry lots of people and pickup trucks for those who wish to carry lots of cargo. 
D) Arm and Hammer Baking Soda can be used for baking and to remove odors from refrigerators and litter boxes. 
E) Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.

Question 18

Small athletic shoe manufacturers such as Vans have targeted niche markets and make shoes designed to satisfy the needs of different specific groups of customers.This strategy is an example of

Accepted Answer

A) market segmentation. 
B) mass customization. 
C) customized manufacturing. 
D) single chain marketing. 
E) market specific selection. 
A) market segmentation. 
B) mass customization. 
C) customized manufacturing. 
D) single chain marketing. 
E) market specific selection.

Question 19

Name Maker is an online company that sells high-end gift wrapping that can have custom slogans or names printed on it,such as the name of a person celebrating a birthday or a couple who is getting married.This made-to-order gift wrapping is priced from $24.95 to $32.95 per 12-foot roll.This is an example of

Accepted Answer

A) family branding. 
B) mass customization. 
C) synergistic marketing. 
D) "Tiffany/Walmart" marketing. 
E) specialty customization. 
A) family branding. 
B) mass customization. 
C) synergistic marketing. 
D) "Tiffany/Walmart" marketing. 
E) specialty customization.

Question 20

When a firm produces only a single product or service and attempts to sell it to two or more market segments,it avoids __________.

Accepted Answer

A) the extra cost of developing and producing additional versions of the product 
B) creating a customer service gap 
C) indirect distribution and logistics problems 
D) restructuring the firm's strategic planning 
E) amortization costs of product enhancements 
A) the extra cost of developing and producing additional versions of the product 
B) creating a customer service gap 
C) indirect distribution and logistics problems 
D) restructuring the firm's strategic planning 
E) amortization costs of product enhancements

Determining the size of specific markets within a market-product grid is helpful in determining which target market segments to select and

To create a market-product grid for bed pillows,the most effective way to segment the market would be using

Chip-N-Dough Cookie Company will let you select cookies and put a photo of yourself on the tin.This is an example of

When a new product or a new retail chain steals customers and sales from older existing ones of an organization,it is referred to as

One approach to positioning a new product in a market is __________ positioning,which involves competing directly with competitors on similar product attributes in the same target market.

The axes on a perceptual map are

To be identified as a market segment,its members must

Which of the following statements regarding segmentation bases is most accurate?

The Zappos segmentation strategy is based on

Which marketing program strategy does a firm use to sell a single product or service to multiple market segments?

All of the following would be a logical way to group the products Wendy's sells at its restaurants EXCEPT:

All of the following are psychographic segmentation variables EXCEPT:

A recent study by the Aberdeen Group analyzed which segmentation bases were used by the 20 percent most profitable organizations of the 220 surveyed.Which segmentation base did these organizations use most?

When Ann Taylor,a well-known retailer of sophisticated women's clothing,started losing sales to its own LOFT outlets that feature moderately priced casual clothes,Ann Taylor was dealing with the marketing phenomenon known as __________.

Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as __________.

Which of the following is an example of a multiple products and multiple market segments strategy?

Small athletic shoe manufacturers such as Vans have targeted niche markets and make shoes designed to satisfy the needs of different specific groups of customers.This strategy is an example of

When a firm produces only a single product or service and attempts to sell it to two or more market segments,it avoids __________.

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

Determining the size of specific markets within a market-product grid is helpful in determining which target market segments to select and

To create a market-product grid for bed pillows,the most effective way to segment the market would be using

Chip-N-Dough Cookie Company will let you select cookies and put a photo of yourself on the tin.This is an example of

When a new product or a new retail chain steals customers and sales from older existing ones of an organization,it is referred to as

One approach to positioning a new product in a market is __________ positioning,which involves competing directly with competitors on similar product attributes in the same target market.

The axes on a perceptual map are

To be identified as a market segment,its members must

Which of the following statements regarding segmentation bases is most accurate?

The Zappos segmentation strategy is based on

Which marketing program strategy does a firm use to sell a single product or service to multiple market segments?

All of the following would be a logical way to group the products Wendy's sells at its restaurants EXCEPT:

All of the following are psychographic segmentation variables EXCEPT:

A recent study by the Aberdeen Group analyzed which segmentation bases were used by the 20 percent most profitable organizations of the 220 surveyed.Which segmentation base did these organizations use most?

When Ann Taylor,a well-known retailer of sophisticated women's clothing,started losing sales to its own LOFT outlets that feature moderately priced casual clothes,Ann Taylor was dealing with the marketing phenomenon known as __________.

Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as __________.

Which of the following is an example of a multiple products and multiple market segments strategy?

Small athletic shoe manufacturers such as Vans have targeted niche markets and make shoes designed to satisfy the needs of different specific groups of customers.This strategy is an example of

When a firm produces only a single product or service and attempts to sell it to two or more market segments,it avoids __________.

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