Question 1

Organizational synergy is the increased customer value achieved through

Accepted Answer

A)  performing organizational functions more efficiently. 
B)  more discounts or larger rebates at the point of sale. 
C)  involvement of the ultimate consumer in product design. 
D)  an increase in the knowledge of competitors. 
E)  shared ownership of the organization through publicly traded stock. 
A)  performing organizational functions more efficiently. 
B)  more discounts or larger rebates at the point of sale. 
C)  involvement of the ultimate consumer in product design. 
D)  an increase in the knowledge of competitors. 
E)  shared ownership of the organization through publicly traded stock.

Question 2

Figure 9-7
-Figure 9-7 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus. The best way to describe how the student market is segmented is

Accepted Answer

A)  the level of discretionary income the student has. 
B)  whether the student pays in-state or out-of-state tuition. 
C)  whether the student has the disposable income to eat at Wendy's. 
D)  combining where the student lives, if on campus, or what time the student commutes. 
E)  the meals eaten at the Wendy's restaurant. 
A)  the level of discretionary income the student has. 
B)  whether the student pays in-state or out-of-state tuition. 
C)  whether the student has the disposable income to eat at Wendy's. 
D)  combining where the student lives, if on campus, or what time the student commutes. 
E)  the meals eaten at the Wendy's restaurant.

Question 3

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 4

A positioning approach that involves seeking a less-competitive, smaller market niche in which to locate a brand is referred to as

Accepted Answer

A)  competitive repositioning. 
B)  head-to-head positioning. 
C)  differentiation positioning. 
D)  downsize positioning. 
E)  product repositioning. 
A)  competitive repositioning. 
B)  head-to-head positioning. 
C)  differentiation positioning. 
D)  downsize positioning. 
E)  product repositioning.

Question 5

The 80/20 rule suggests that

Accepted Answer

A)  around 80 percent of a firm's inventory should be readily available while 20 percent should be reserved for emergency demand. 
B)  nearly 80 percent of a firm's first-time users will become brand loyal while only 20 percent will use the product only once and then abandon it. 
C)  about 80 percent of a firm's sales are obtained from about 20 percent of its customers. 
D)  80 percent of a firm's marketing program expenses are tax deductible while 20 percent are not. 
E)  about 80 percent of a firm's products will be sold to ultimate consumers while 20 percent go to organizational buyers. 
A)  around 80 percent of a firm's inventory should be readily available while 20 percent should be reserved for emergency demand. 
B)  nearly 80 percent of a firm's first-time users will become brand loyal while only 20 percent will use the product only once and then abandon it. 
C)  about 80 percent of a firm's sales are obtained from about 20 percent of its customers. 
D)  80 percent of a firm's marketing program expenses are tax deductible while 20 percent are not. 
E)  about 80 percent of a firm's products will be sold to ultimate consumers while 20 percent go to organizational buyers.

Question 6

The Walt Disney Co. carefully markets two distinct Winnie-the-Poohs; one is the original line-drawn figure on fine china sold at Nordstrom and the other is a cartoon-like Pooh on polyester bed sheets sold at Target. This is an example of

Accepted Answer

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

Question 7

Two key types of synergies related to segmentation and targeting are

Accepted Answer

A)  supplier and distributor synergies. 
B)  marketing and product synergies. 
C)  industry-dominated and consumer-dominated. 
D)  product and production synergies. 
E)  consumer and market synergies. 
A)  supplier and distributor synergies. 
B)  marketing and product synergies. 
C)  industry-dominated and consumer-dominated. 
D)  product and production synergies. 
E)  consumer and market synergies.

Question 8

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

Lands' End will custom-fit a Marinac jacket and make it with additional features such as thumb loops, underarm ventilation slits, and a key clip when you order from LandsEnd.com. This is an example of

Accepted Answer

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

Question 10

A rehabilitation center wants to target women in their 20s who have received some permanent disability as the result of a skiing accident. In terms of the criteria used for selecting a target segment, this market may

Accepted Answer

A)  have no expected growth. 
B)  not be compatible with the company's current resources. 
C)  not be worth targeting since its market size is very small. 
D)  not be readily accessible to the firm's marketing programs. 
E)  be relatively expensive to reach. 
A)  have no expected growth. 
B)  not be compatible with the company's current resources. 
C)  not be worth targeting since its market size is very small. 
D)  not be readily accessible to the firm's marketing programs. 
E)  be relatively expensive to reach.

Question 11

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is

Accepted Answer

A)  consumer differentiation. 
B)  psychographics. 
C)  market segmentation. 
D)  market delineation. 
E)  aggregation marketing. 
A)  consumer differentiation. 
B)  psychographics. 
C)  market segmentation. 
D)  market delineation. 
E)  aggregation marketing.

Question 12

One marketing action that can be taken to sell a single product or service to multiple market segments is to

Accepted Answer

A)  develop and produce another version of the product. 
B)  manufacture products that appeal to different markets. 
C)  develop a new channel of distribution. 
D)  purchase another firm that has additional products that would appeal to multiple markets. 
E)  issue stock to fund additional research and development for new products. 
A)  develop and produce another version of the product. 
B)  manufacture products that appeal to different markets. 
C)  develop a new channel of distribution. 
D)  purchase another firm that has additional products that would appeal to multiple markets. 
E)  issue stock to fund additional research and development for new products.

Question 13

Campbell Soup Co. found that its canned nacho cheese sauce, which could be heated and poured directly onto nacho chips, was too spicy for Americans in the East and not spicy enough for those in the West and Southwest. Today, Campbell's plants in Texas and California produce a spicier nacho cheese sauce than what is produced in the other plants. Campbell's is using ________ segmentation.

Accepted Answer

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

Question 14

Changing the place an offering occupies in a consumer's mind 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 15

Samsung sells a variety of TVs, from simple and small ones to large smart TVs with Internet connectivity and 3-D technology. Customers prefer different features, so Samsung uses which type of segmentation variable based on their viewing preferences?

Accepted Answer

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

Question 16

Kellogg's has several cereals targeted at different types of users. This is an example of multiple products aimed at multiple markets. Manufacturing these different cereals is clearly more expensive than producing only one but seems worthwhile if it adds to the manufacturer's profits and

Accepted Answer

A)  meets standards for new product testing. 
B)  uses the same promotion and packaging for all segments. 
C)  cannibalizes the earlier products. 
D)  stabilizes competition. 
E)  better serves customers' needs. 
A)  meets standards for new product testing. 
B)  uses the same promotion and packaging for all segments. 
C)  cannibalizes the earlier products. 
D)  stabilizes competition. 
E)  better serves customers' needs.

Question 17

Today, marketers are increasingly emphasizing a Tiffany/Walmart strategy, which is to offer

Accepted Answer

A)  a low-priced product to a high-income or high net worth segment. 
B)  a high-priced product to a low-income or low net worth segment. 
C)  different variations of the same basic offering to high-end and low-end segments. 
D)  a high-priced and a low-priced offering to a single market segment. 
E)  entirely different offerings to high-end and low-end segments. 
A)  a low-priced product to a high-income or high net worth segment. 
B)  a high-priced product to a low-income or low net worth segment. 
C)  different variations of the same basic offering to high-end and low-end segments. 
D)  a high-priced and a low-priced offering to a single market segment. 
E)  entirely different offerings to high-end and low-end segments.

Question 18

In an Apple market-product grid for its personal computer line, the professional segment of medium/large businesses seems willing to purchase all of the items in Apple's product line. This allows Apple to enjoy cost savings due to

Accepted Answer

A)  segment differentiation. 
B)  marketing synergies. 
C)  product synergies. 
D)  segment repositioning. 
E)  product differentiation. 
A)  segment differentiation. 
B)  marketing synergies. 
C)  product synergies. 
D)  segment repositioning. 
E)  product differentiation.

Question 19

A marketing manager should develop segments for a market that meet five principal criteria. List these important factors in forming market segments.

Accepted Answer

The five criteria are: (1) simplicity an

Question 20

Magazines such as Condé Nast Traveler, Field & Stream, Golf Digest, and Fitness focus on how people live their lives, and thus all use a ________ segmentation strategy.

Accepted Answer

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

Exam 9: Market Segmentation, Targeting, and Positioning

Organizational synergy is the increased customer value achieved through

Figure 9-7 -Figure 9-7 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus. The best way to describe how the student market is segmented is

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

A positioning approach that involves seeking a less-competitive, smaller market niche in which to locate a brand is referred to as

The 80/20 rule suggests that

The Walt Disney Co. carefully markets two distinct Winnie-the-Poohs; one is the original line-drawn figure on fine china sold at Nordstrom and the other is a cartoon-like Pooh on polyester bed sheets sold at Target. This is an example of

Two key types of synergies related to segmentation and targeting are

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

Lands' End will custom-fit a Marinac jacket and make it with additional features such as thumb loops, underarm ventilation slits, and a key clip when you order from LandsEnd.com. This is an example of

A rehabilitation center wants to target women in their 20s who have received some permanent disability as the result of a skiing accident. In terms of the criteria used for selecting a target segment, this market may

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is

One marketing action that can be taken to sell a single product or service to multiple market segments is to

Changing the place an offering occupies in a consumer's mind relative to competitive products is referred to as

Samsung sells a variety of TVs, from simple and small ones to large smart TVs with Internet connectivity and 3-D technology. Customers prefer different features, so Samsung uses which type of segmentation variable based on their viewing preferences?

Kellogg's has several cereals targeted at different types of users. This is an example of multiple products aimed at multiple markets. Manufacturing these different cereals is clearly more expensive than producing only one but seems worthwhile if it adds to the manufacturer's profits and

Today, marketers are increasingly emphasizing a Tiffany/Walmart strategy, which is to offer

In an Apple market-product grid for its personal computer line, the professional segment of medium/large businesses seems willing to purchase all of the items in Apple's product line. This allows Apple to enjoy cost savings due to

A marketing manager should develop segments for a market that meet five principal criteria. List these important factors in forming market segments.

Magazines such as Condé Nast Traveler, Field & Stream, Golf Digest, and Fitness focus on how people live their lives, and thus all use a ________ segmentation strategy.

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

Filters