Question 1

What is product position? What functions do perceptual positioning maps serve?

Accepted Answer

A product position is the way a product

Question 2

________ segmentation has long been used in clothing, cosmetics, toiletries, and magazines.

Accepted Answer

A)  Behavioral 
B)  Gender 
C)  Benefit 
D)  Occasion 
E)  Geographic 
A)  Behavioral 
B)  Gender 
C)  Benefit 
D)  Occasion 
E)  Geographic

Question 3

Which of the following is NOT a benefit of using multivariable segmentation systems?

Accepted Answer

A)  help companies identify key customer segments 
B)  help companies reach key customer segments more efficiently 
C)  help companies more accurately price their products to appeal to key customer segments 
D)  help companies better understand key customer segments 
E)  help companies tailor market offering to the needs of the key customer segments 
A)  help companies identify key customer segments 
B)  help companies reach key customer segments more efficiently 
C)  help companies more accurately price their products to appeal to key customer segments 
D)  help companies better understand key customer segments 
E)  help companies tailor market offering to the needs of the key customer segments

Question 4

Briefly describe geographic segmentation.

Accepted Answer

Geographic segmentation calls for dividi

Question 5

________ positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs.

Accepted Answer

A)  More for the same 
B)  More for less 
C)  Same for less 
D)  Less for much less 
E)  More for more 
A)  More for the same 
B)  More for less 
C)  Same for less 
D)  Less for much less 
E)  More for more

Question 6

All of the following are ways a company can differentiate itself or its product EXCEPT ________.

Accepted Answer

A)  services 
B)  channels 
C)  price 
D)  people 
E)  image 
A)  services 
B)  channels 
C)  price 
D)  people 
E)  image

Question 7

In the context of behavioral segmentation, who among the following is a potential user?

Accepted Answer

A)  Anita, who recently had a baby 
B)  Peter, who recently changed his job 
C)  Mary, who enrolled as a graduate student in a university last year 
D)  Gina, who opened a dental clinic in Orange County 
E)  Raj, who is planning a trip to Hawaii with friends 
A)  Anita, who recently had a baby 
B)  Peter, who recently changed his job 
C)  Mary, who enrolled as a graduate student in a university last year 
D)  Gina, who opened a dental clinic in Orange County 
E)  Raj, who is planning a trip to Hawaii with friends

Question 8

Why are demographic factors the most popular bases for segmenting customer groups?

Accepted Answer

One reason is that consumer needs, wants

Question 9

Geographic segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Accepted Answer

A) True 
 B)False

Question 10

________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Accepted Answer

A)  Geographic 
B)  Benefit 
C)  Occasion 
D)  Psychographic 
E)  Demographic 
A)  Geographic 
B)  Benefit 
C)  Occasion 
D)  Psychographic 
E)  Demographic

Question 11

Which of the following is NOT one of the major variables used in segmenting consumer markets?

Accepted Answer

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

Question 12

Orion Inc. markets luxury watches. It targets the wealthy global elite segment, regardless of their geographic location. Orion most likely uses ________ segmentation.

Accepted Answer

A)  income 
B)  age-group 
C)  occasion 
D)  benefit 
E)  cross-market 
A)  income 
B)  age-group 
C)  occasion 
D)  benefit 
E)  cross-market

Question 13

________ segmentation assumes that nations close to one another will have many common traits and behaviors.

Accepted Answer

A)  Geographic 
B)  Occasion 
C)  Psychographic 
D)  Benefit 
E)  Demographic 
A)  Geographic 
B)  Occasion 
C)  Psychographic 
D)  Benefit 
E)  Demographic

Question 14

How do companies identify attractive market segments? How do they choose a target marketing strategy?

Accepted Answer

To target the best market segments, the

Question 15

A recent study conducted by Estelle Cosmetics Company showed that heavy users of Estelle's products comprise a small percentage of the market. The study indicated that less than 7 percent of all shoppers buy nearly 71 percent of Estelle's products in the United States. This is an example of ________.

Accepted Answer

A)  benefit segmentation 
B)  segmentation by loyalty status 
C)  segmentation by usage rate 
D)  psychographic segmentation 
E)  occasion segmentation 
A)  benefit segmentation 
B)  segmentation by loyalty status 
C)  segmentation by usage rate 
D)  psychographic segmentation 
E)  occasion segmentation

Question 16

Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods. This is an example of ________.

Accepted Answer

A)  geographic segmentation 
B)  product diversification 
C)  branding 
D)  psychographic segmentation 
E)  demographic segmentation 
A)  geographic segmentation 
B)  product diversification 
C)  branding 
D)  psychographic segmentation 
E)  demographic segmentation

Question 17

List some important factors that companies need to consider when choosing a market-targeting strategy.

Accepted Answer

The availability of resources, the degre

Question 18

A public relations firm tailors its advertising and promotional services according to the needs and preferences of specific customers. This exemplifies ________.

Accepted Answer

A)  trigger-based marketing 
B)  mass marketing 
C)  segmented marketing 
D)  individual marketing 
E)  concentrated marketing 
A)  trigger-based marketing 
B)  mass marketing 
C)  segmented marketing 
D)  individual marketing 
E)  concentrated marketing

Question 19

A ________ refers to the way a product is defined by consumers on important attributes-the place the product occupies in consumers' minds relative to competing products.

Accepted Answer

A)  core competency 
B)  value stream 
C)  value proposition 
D)  product position 
E)  product specification 
A)  core competency 
B)  value stream 
C)  value proposition 
D)  product position 
E)  product specification

Question 20

Which of the following is true about the concentrated marketing strategy?

Accepted Answer

A)  Companies that rely on a few segments for all of their business will suffer if a segment turns sour. 
B)  Concentrated marketing is not profitable for most firms. 
C)  Niche marketing involves few risks for most firms. 
D)  Concentrated marketing involves going after a small share of a large market. 
E)  The Internet has limited the use and benefits of niche marketing. 
A)  Companies that rely on a few segments for all of their business will suffer if a segment turns sour. 
B)  Concentrated marketing is not profitable for most firms. 
C)  Niche marketing involves few risks for most firms. 
D)  Concentrated marketing involves going after a small share of a large market. 
E)  The Internet has limited the use and benefits of niche marketing.

What is product position? What functions do perceptual positioning maps serve?

________ segmentation has long been used in clothing, cosmetics, toiletries, and magazines.

Which of the following is NOT a benefit of using multivariable segmentation systems?

Briefly describe geographic segmentation.

________ positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs.

All of the following are ways a company can differentiate itself or its product EXCEPT ________.

In the context of behavioral segmentation, who among the following is a potential user?

Why are demographic factors the most popular bases for segmenting customer groups?

Geographic segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Which of the following is NOT one of the major variables used in segmenting consumer markets?

Orion Inc. markets luxury watches. It targets the wealthy global elite segment, regardless of their geographic location. Orion most likely uses ________ segmentation.

________ segmentation assumes that nations close to one another will have many common traits and behaviors.

How do companies identify attractive market segments? How do they choose a target marketing strategy?

Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods. This is an example of ________.

List some important factors that companies need to consider when choosing a market-targeting strategy.

A public relations firm tailors its advertising and promotional services according to the needs and preferences of specific customers. This exemplifies ________.

A ________ refers to the way a product is defined by consumers on important attributes-the place the product occupies in consumers' minds relative to competing products.

Which of the following is true about the concentrated marketing strategy?

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 7: Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

What is product position? What functions do perceptual positioning maps serve?

________ segmentation has long been used in clothing, cosmetics, toiletries, and magazines.

Which of the following is NOT a benefit of using multivariable segmentation systems?

Briefly describe geographic segmentation.

________ positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs.

All of the following are ways a company can differentiate itself or its product EXCEPT ________.

In the context of behavioral segmentation, who among the following is a potential user?

Why are demographic factors the most popular bases for segmenting customer groups?

Geographic segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Which of the following is NOT one of the major variables used in segmenting consumer markets?

Orion Inc. markets luxury watches. It targets the wealthy global elite segment, regardless of their geographic location. Orion most likely uses ________ segmentation.

________ segmentation assumes that nations close to one another will have many common traits and behaviors.

How do companies identify attractive market segments? How do they choose a target marketing strategy?

Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods. This is an example of ________.

List some important factors that companies need to consider when choosing a market-targeting strategy.

A public relations firm tailors its advertising and promotional services according to the needs and preferences of specific customers. This exemplifies ________.

A ________ refers to the way a product is defined by consumers on important attributes-the place the product occupies in consumers' minds relative to competing products.

Which of the following is true about the concentrated marketing strategy?

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters