Question 1

Personality and lifestyle are both variables used to employ ________ segmentation.

Accepted Answer

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

Question 2

Hallmark places its scrapbook materials, photo albums, and related supplies into one product group because

Accepted Answer

A)  it was easier to forecast future sales since there were fewer market-product combinations. 
B)  customers could buy in quantity and take advantage of quantity discounts. 
C)  their suppliers provided free displays and shelving to highlight Hallmark's products. 
D)  it helped buyers relate to the products and make decisions in a more meaningful way. 
E)  it allowed customers to compare price and quality with competitors who displayed their products in a similar manner. 
A)  it was easier to forecast future sales since there were fewer market-product combinations. 
B)  customers could buy in quantity and take advantage of quantity discounts. 
C)  their suppliers provided free displays and shelving to highlight Hallmark's products. 
D)  it helped buyers relate to the products and make decisions in a more meaningful way. 
E)  it allowed customers to compare price and quality with competitors who displayed their products in a similar manner.

Question 3

Which of these is collected from consumers to develop a product's perceptual map?

Accepted Answer

A)  consumer judgments about the important attributes for a product or brand class 
B)  a listing of all prospective brands and products 
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)  consumer judgments about the important attributes for a product or brand class 
B)  a listing of all prospective brands and products 
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 4

Retail store type and usage rate are both variables used to employ ________ segmentation.

Accepted Answer

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

Question 5

Define mass customization and build-to-order.

Accepted Answer

Mass customization involves tailoring go

Question 6

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer which of these?

Accepted Answer

A)  Is this product useful on a global scale? 
B)  Is it possible to reposition this product? 
C)  Is there too much competition for this product? 
D)  Is the market loyal to the product? 
E)  Would segmentation be worth doing and is it possible? 
A)  Is this product useful on a global scale? 
B)  Is it possible to reposition this product? 
C)  Is there too much competition for this product? 
D)  Is the market loyal to the product? 
E)  Would segmentation be worth doing and is it possible?

Question 7

Figure 9-9
-Figure 9-9 above is a depiction of a ________ for beverages in the minds of adults.

Accepted Answer

A)  hierarchy of needs 
B)  perceptual map 
C)  marketing matrix 
D)  growth-share matrix 
E)  acuity matrix 
A)  hierarchy of needs 
B)  perceptual map 
C)  marketing matrix 
D)  growth-share matrix 
E)  acuity matrix

Question 8

Customer lifetime ________ represents the financial worth of a customer to a company over the course of their relationship.

Accepted Answer

A)  revenue 
B)  usage 
C)  profitability 
D)  value 
E)  exchange 
A)  revenue 
B)  usage 
C)  profitability 
D)  value 
E)  exchange

Question 9

Product repositioning is

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 a consumer's mind relative to competitive products. 
D)  the practice of selling 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 a consumer's mind relative to competitive products. 
D)  the practice of selling 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 10

The axes on a perceptual map are

Accepted Answer

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

Question 11

Hotel programs that encourage passengers to repeatedly stay at their collections of properties focus on usage rate and employ ________ strategy.

Accepted Answer

A)  a rate of recurrence 
B)  a product utilization 
C)  an incidence 
D)  a frequency marketing 
E)  a consumption index 
A)  a rate of recurrence 
B)  a product utilization 
C)  an incidence 
D)  a frequency marketing 
E)  a consumption index

Question 12

Jordan Lewis owns a company that makes Triangle BBQ Sauce. She wants to target local people who like the special blend of flavors found only in North Carolina barbecue sauce. In developing a marketing strategy to sell the sauce, Lewis decided to join Goodness Grows in North Carolina, a specialty food association that advertises local products and distributes them to local supermarkets and gourmet shops. Lewis has just

Accepted Answer

A)  formed a market segment using critical product features. 
B)  formed products to be sold into groups. 
C)  developed a market-product grid and estimating size of markets. 
D)  taken a marketing action to reach a target market segment. 
E)  formed prospective buyers into segments. 
A)  formed a market segment using critical product features. 
B)  formed products to be sold into groups. 
C)  developed a market-product grid and estimating size of markets. 
D)  taken a marketing action to reach a target market segment. 
E)  formed prospective buyers into segments.

Question 13

A basic test of the usefulness of the market segmentation process is whether it leads to tangible marketing actions that can

Accepted Answer

A)  increase sales and profitability. 
B)  stand up to legal scrutiny. 
C)  be socially responsible. 
D)  create sustainable demand. 
E)  produce product differentiation. 
A)  increase sales and profitability. 
B)  stand up to legal scrutiny. 
C)  be socially responsible. 
D)  create sustainable demand. 
E)  produce product differentiation.

Question 14

Building open and honest relationships with communication is an example of one of Zappos's

Accepted Answer

A)  target markets. 
B)  best practices being adapted from its new owner, Amazon.com. 
C)  ten core values. 
D)  supplier requirements. 
E)  long-term goals. 
A)  target markets. 
B)  best practices being adapted from its new owner, Amazon.com. 
C)  ten core values. 
D)  supplier requirements. 
E)  long-term goals.

Question 15

ExxonMobil targets consumers that fill up their gas tanks more than once a week with its Chase Visa fuel card. Here, ExxonMobil is using which segmentation variable?

Accepted Answer

A)  needs 
B)  lifestyle 
C)  behavioral 
D)  psychographic 
E)  demographic 
A)  needs 
B)  lifestyle 
C)  behavioral 
D)  psychographic 
E)  demographic

Question 16

Google's Pixel 4 smartphone has advanced motion sensors that allow a user to skip songs, snooze alarms and silence phone calls by waving rather than touching. This sets the smartphone apart from its competitors and is part of Google's ________ strategy.

Accepted Answer

A)  product segmentation 
B)  market expansion 
C)  product differentiation 
D)  usage segmentation 
E)  psychographic segmentation 
A)  product segmentation 
B)  market expansion 
C)  product differentiation 
D)  usage segmentation 
E)  psychographic segmentation

Question 17

Why would an organization produce a single product or service and then attempt to sell it to two or more market segments?

Accepted Answer

An organization would produce a single p

Question 18

Explain the 80/20 rule.

Accepted Answer

Usage rate is sometimes referred to in t

Question 19

Wendy's should consider the competitive potential of not only Burger King and McDonald's, but also "fast-casual" establishments and even

Accepted Answer

A)  meals at golf and country clubs. 
B)  dormitory meal plans at surrounding colleges and universities. 
C)  items for sale at gas stations, coffee shops, and convenience stores. 
D)  local farmer's markets that sell produce. 
E)  nearly every food item sold at local grocery stores. 
A)  meals at golf and country clubs. 
B)  dormitory meal plans at surrounding colleges and universities. 
C)  items for sale at gas stations, coffee shops, and convenience stores. 
D)  local farmer's markets that sell produce. 
E)  nearly every food item sold at local grocery stores.

Question 20

Segmentation based on what product features are important to different customers is a form of

Accepted Answer

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

Exam 9: Market Segmentation, Targeting, and Positioning

Personality and lifestyle are both variables used to employ ________ segmentation.

Hallmark places its scrapbook materials, photo albums, and related supplies into one product group because

Which of these is collected from consumers to develop a product's perceptual map?

Retail store type and usage rate are both variables used to employ ________ segmentation.

Define mass customization and build-to-order.

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer which of these?

Figure 9-9 -Figure 9-9 above is a depiction of a ________ for beverages in the minds of adults.

Customer lifetime ________ represents the financial worth of a customer to a company over the course of their relationship.

Product repositioning is

The axes on a perceptual map are

Hotel programs that encourage passengers to repeatedly stay at their collections of properties focus on usage rate and employ ________ strategy.

A basic test of the usefulness of the market segmentation process is whether it leads to tangible marketing actions that can

Building open and honest relationships with communication is an example of one of Zappos's

ExxonMobil targets consumers that fill up their gas tanks more than once a week with its Chase Visa fuel card. Here, ExxonMobil is using which segmentation variable?

Google's Pixel 4 smartphone has advanced motion sensors that allow a user to skip songs, snooze alarms and silence phone calls by waving rather than touching. This sets the smartphone apart from its competitors and is part of Google's ________ strategy.

Why would an organization produce a single product or service and then attempt to sell it to two or more market segments?

Explain the 80/20 rule.

Wendy's should consider the competitive potential of not only Burger King and McDonald's, but also "fast-casual" establishments and even

Segmentation based on what product features are important to different customers is a form of

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

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

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multi-Channel Marketing

Pulling It All Together: the Strategic Marketing Proces

Building an Effective Marketing Plan

Financial Aspects of Marketing

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