Question 1

The concept of being "substantial and profitable" as a prerequisite for market segmentation refers to the fact that:

Accepted Answer

A) the customers in the segment should react similarly and positively to the firm's offering. 
B) segments should be accessible to the firms through persuasive communications and product distribution. 
C) segments should be distinct from one another for the firm to be able to design products or services to meet their needs. 
D) segments and their buying power should be high enough to generate substantial returns from the market. 
E) segments should overlap each other to a great extent to facilitate the easy support of
Marketing mix activities. 
A) the customers in the segment should react similarly and positively to the firm's offering. 
B) segments should be accessible to the firms through persuasive communications and product distribution. 
C) segments should be distinct from one another for the firm to be able to design products or services to meet their needs. 
D) segments and their buying power should be high enough to generate substantial returns from the market. 
E) segments should overlap each other to a great extent to facilitate the easy support of
Marketing mix activities. D

Question 2

A strategy through which a firm targets several market segments with a varied offering for each is called:

Accepted Answer

A) differentiated segmentation. 
B) behavioural segmentation. 
C) geodemographic segmentation. 
D) undifferentiated segmentation. 
E) concentrated segmentation. 
A) differentiated segmentation. 
B) behavioural segmentation. 
C) geodemographic segmentation. 
D) undifferentiated segmentation. 
E) concentrated segmentation. A

Question 3

A company sells used cars.It established itself in the market as a competitor of low-price car manufacturers.It was able to establish itself in the mind of the consumer as a low-cost, high- quality used cars alternative to low-cost, low-quality new cars.This is an example of:

Accepted Answer

A) brand repositioning. 
B) positioning. 
C) perceptual mapping. 
D) mass marketing. 
E) micro marketing. 
A) brand repositioning. 
B) positioning. 
C) perceptual mapping. 
D) mass marketing. 
E) micro marketing. B

Question 4

Self-values help determine the benefits the target market may be looking for from a product.

Accepted Answer

A) True 
 B)False

Question 5

A graph shows consumer perceptions of various automobiles on the two dimensions of sportiness/conservative and classy/affordable.This sample of consumers felt Porsche was the sportiest and classiest of the cars in the study.They felt Plymouth was the most practical and conservative.Porsche is the ideal product when it came to classiness and sportiness, which is represented on the graph as a(n):

Accepted Answer

A) self-concept. 
B) ideal point. 
C) self-value. 
D) lifestyle. 
E) self-moral. 
A) self-concept. 
B) ideal point. 
C) self-value. 
D) lifestyle. 
E) self-moral.

Question 6

Suppose a company sells a subscription service.Customers typically remain customers for 3 years, and they pay $20.00 per month for the service, which means $240.00 ($20.00 × 12 months) per year or $720.00 ($240.00 × 3 years) potential revenue from the customer.This is an example of:

Accepted Answer

A) business intelligence. 
B) customer intelligence. 
C) customer relationship management. 
D) customer value proposition. 
E) customer lifetime value. 
A) business intelligence. 
B) customer intelligence. 
C) customer relationship management. 
D) customer value proposition. 
E) customer lifetime value.

Question 7

Goals for life, not just the goals one wants to accomplish in a day, are called:

Accepted Answer

A) self-concepts. 
B) ideal points. 
C) self-values. 
D) lifestyles. 
E) self-morals. 
A) self-concepts. 
B) ideal points. 
C) self-values. 
D) lifestyles. 
E) self-morals.

Question 8

Value is a popular positioning method because the relationship of price to quality is among the most important considerations for consumers when they make a purchase decision.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following holds true for the term brand repositioning?

Accepted Answer

A) It refers to the display, in two or more dimensions, of the position of products or brands in the consumer's mind. 
B) It refers to the segmentation that tailors a product or service to suit an individual customer's wants or needs. 
C) It refers to the mental picture that people have about a company and its products or services relative to competitors. 
D) It refers to a strategy in which marketers change a brand's focus to target new markets. 
E) It refers to the practice of interacting on a one-to-one basis with many people to create custom-made products or services. 
A) It refers to the display, in two or more dimensions, of the position of products or brands in the consumer's mind. 
B) It refers to the segmentation that tailors a product or service to suit an individual customer's wants or needs. 
C) It refers to the mental picture that people have about a company and its products or services relative to competitors. 
D) It refers to a strategy in which marketers change a brand's focus to target new markets. 
E) It refers to the practice of interacting on a one-to-one basis with many people to create custom-made products or services.

Question 10

Explain loyalty segmentation.

Accepted Answer

Firms have long known that it pays to re

Question 11

Which of the following holds true for loyalty segmentation?

Accepted Answer

A) It refers to the segmentation of consumers based on the worth they get from products or services. 
B) It refers to the segmentation of consumers on the basis of where they live. 
C) It refers to the segmentation of consumers on the basis of how consumers describe themselves. 
D) It refers to the strategy of investing in retention and initiatives to retain the firm's most profitable customers. 
E) It refers to the segmentation of consumers on the basis of easily measured, objective
Characteristics such as age, gender, income, and education. 
A) It refers to the segmentation of consumers based on the worth they get from products or services. 
B) It refers to the segmentation of consumers on the basis of where they live. 
C) It refers to the segmentation of consumers on the basis of how consumers describe themselves. 
D) It refers to the strategy of investing in retention and initiatives to retain the firm's most profitable customers. 
E) It refers to the segmentation of consumers on the basis of easily measured, objective
Characteristics such as age, gender, income, and education.

Question 12

A juice packaging company develops packaged juices for the Canadian market, each targeted to a specific region.This is an example of:

Accepted Answer

A) geographic segmentation. 
B) benefit segmentation. 
C) demographic segmentation. 
D) occasion segmentation. 
E) psychographic segmentation. 
A) geographic segmentation. 
B) benefit segmentation. 
C) demographic segmentation. 
D) occasion segmentation. 
E) psychographic segmentation.

Question 13

Cecilia grew up in a poor neighbourhood, so her main concerns are security and safety.She believes in conserving every penny and diligently collects coupons and discount vouchers.She does not indulge in luxuries and is a cautious consumer.Cecilia is uncomfortable with new technologies and is loyal to her favourite brands.Under the VALS classification, Cecelia would be a(n):

Accepted Answer

A) survivor. 
B) believer. 
C) thinker. 
D) striver. 
E) experiencer. 
A) survivor. 
B) believer. 
C) thinker. 
D) striver. 
E) experiencer.

Question 14

Kooky is a company that sells clothes.It has two brand names, Kooky and Kooky Kid.Each of these brands caters to the needs of two dissimilar market segments.There are varied strategies and products for the dissimilar groups.This is called:

Accepted Answer

A) differentiated segmentation. 
B) behavioural segmentation. 
C) geodemographic segmentation. 
D) undifferentiated segmentation. 
E) concentrated segmentation. 
A) differentiated segmentation. 
B) behavioural segmentation. 
C) geodemographic segmentation. 
D) undifferentiated segmentation. 
E) concentrated segmentation.

Question 15

Explain the concentrated segmentation strategy.

Accepted Answer

When an organization selects a single, p

Question 16

An automobile ad appeals to the rebel that is a part of every individual.It is aimed at a personality group.This is an example of:

Accepted Answer

A) geographic segmentation. 
B) benefit segmentation. 
C) demographic segmentation. 
D) occasion segmentation. 
E) psychographic segmentation. 
A) geographic segmentation. 
B) benefit segmentation. 
C) demographic segmentation. 
D) occasion segmentation. 
E) psychographic segmentation.

Question 17

Self-value is the image people have of themselves.

Accepted Answer

A) True 
 B)False

Question 18

Entrepreneurial start-up ventures often benefit from using a concentrated strategy, which allows them to employ their limited resources more efficiently.

Accepted Answer

A) True 
 B)False

Question 19

The concept of being "identifiable" as a prerequisite for market segmentation refers to the fact that:

Accepted Answer

A) the customers in the segment should react similarly and positively to the firm's offering. 
B) segments should be accessible to the firms through persuasive communications and product distribution. 
C) segments should be distinct from one another for the firm to be able to design products or services to meet their needs. 
D) segments and their buying power should be high enough to generate substantial profits. 
E) segments should overlap each other to a great extent to facilitate the easy support of marketing mix activities. 
A) the customers in the segment should react similarly and positively to the firm's offering. 
B) segments should be accessible to the firms through persuasive communications and product distribution. 
C) segments should be distinct from one another for the firm to be able to design products or services to meet their needs. 
D) segments and their buying power should be high enough to generate substantial profits. 
E) segments should overlap each other to a great extent to facilitate the easy support of marketing mix activities.

Question 20

In the beginning, the company offered its products to women of all age groups.This is an example of:

Accepted Answer

A) differentiated segmentation. 
B) micro marketing. 
C) geodemographic segmentation. 
D) undifferentiated segmentation. 
E) concentrated segmentation. 
A) differentiated segmentation. 
B) micro marketing. 
C) geodemographic segmentation. 
D) undifferentiated segmentation. 
E) concentrated segmentation.

The concept of being "substantial and profitable" as a prerequisite for market segmentation refers to the fact that:

A strategy through which a firm targets several market segments with a varied offering for each is called:

A company sells used cars.It established itself in the market as a competitor of low-price car manufacturers.It was able to establish itself in the mind of the consumer as a low-cost, high- quality used cars alternative to low-cost, low-quality new cars.This is an example of:

Self-values help determine the benefits the target market may be looking for from a product.

Suppose a company sells a subscription service.Customers typically remain customers for 3 years, and they pay $20.00 per month for the service, which means $240.00 ($20.00 × 12 months) per year or $720.00 ($240.00 × 3 years) potential revenue from the customer.This is an example of:

Goals for life, not just the goals one wants to accomplish in a day, are called:

Value is a popular positioning method because the relationship of price to quality is among the most important considerations for consumers when they make a purchase decision.

Which of the following holds true for the term brand repositioning?

Explain loyalty segmentation.

Which of the following holds true for loyalty segmentation?

A juice packaging company develops packaged juices for the Canadian market, each targeted to a specific region.This is an example of:

Kooky is a company that sells clothes.It has two brand names, Kooky and Kooky Kid.Each of these brands caters to the needs of two dissimilar market segments.There are varied strategies and products for the dissimilar groups.This is called:

Explain the concentrated segmentation strategy.

An automobile ad appeals to the rebel that is a part of every individual.It is aimed at a personality group.This is an example of:

Self-value is the image people have of themselves.

Entrepreneurial start-up ventures often benefit from using a concentrated strategy, which allows them to employ their limited resources more efficiently.

The concept of being "identifiable" as a prerequisite for market segmentation refers to the fact that:

In the beginning, the company offered its products to women of all age groups.This is an example of:

Developing a Marketing Strategies and a Marketing Plan

Analyzing the Marketing Environment

Understanding the Marketplace Consumer Behaviour

Business-To-Business Marketing

Targeting the Marketplace Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Services the Intangible Product

Transacting Value Pricing Concepts and Strategies : Establishing Value

Value Delivery : Designing the Distribution Channel and Supply Chain Marketing Channels

Retailing and Multichanneled Marketing

Value Communication Integrated Marketing Communications

Advertising, Sales Promotions, and Personal Selling

Social and Mobile Marketing

Marketing in the Global Environment Global Marketing

Ethics and Socially Responsible Marketing

Filters

Exam 7: Value Creation Developing New Products

The concept of being "substantial and profitable" as a prerequisite for market segmentation refers to the fact that:

A strategy through which a firm targets several market segments with a varied offering for each is called:

A company sells used cars.It established itself in the market as a competitor of low-price car manufacturers.It was able to establish itself in the mind of the consumer as a low-cost, high- quality used cars alternative to low-cost, low-quality new cars.This is an example of:

Self-values help determine the benefits the target market may be looking for from a product.

Suppose a company sells a subscription service.Customers typically remain customers for 3 years, and they pay $20.00 per month for the service, which means $240.00 ($20.00 × 12 months) per year or $720.00 ($240.00 × 3 years) potential revenue from the customer.This is an example of:

Goals for life, not just the goals one wants to accomplish in a day, are called:

Value is a popular positioning method because the relationship of price to quality is among the most important considerations for consumers when they make a purchase decision.

Which of the following holds true for the term brand repositioning?

Explain loyalty segmentation.

Which of the following holds true for loyalty segmentation?

A juice packaging company develops packaged juices for the Canadian market, each targeted to a specific region.This is an example of:

Kooky is a company that sells clothes.It has two brand names, Kooky and Kooky Kid.Each of these brands caters to the needs of two dissimilar market segments.There are varied strategies and products for the dissimilar groups.This is called:

Explain the concentrated segmentation strategy.

An automobile ad appeals to the rebel that is a part of every individual.It is aimed at a personality group.This is an example of:

Self-value is the image people have of themselves.

Entrepreneurial start-up ventures often benefit from using a concentrated strategy, which allows them to employ their limited resources more efficiently.

The concept of being "identifiable" as a prerequisite for market segmentation refers to the fact that:

In the beginning, the company offered its products to women of all age groups.This is an example of:

Developing a Marketing Strategies and a Marketing Plan

Analyzing the Marketing Environment

Understanding the Marketplace Consumer Behaviour

Business-To-Business Marketing

Targeting the Marketplace Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Services the Intangible Product

Transacting Value Pricing Concepts and Strategies : Establishing Value

Value Delivery : Designing the Distribution Channel and Supply Chain Marketing Channels

Retailing and Multichanneled Marketing

Value Communication Integrated Marketing Communications

Advertising, Sales Promotions, and Personal Selling

Social and Mobile Marketing

Marketing in the Global Environment Global Marketing

Ethics and Socially Responsible Marketing

Filters