Question 1

Which of the following is true of perceptual positioning maps?

Accepted Answer

A)  They are used to divide buyers into groups based on their perceived income and age. 
B)  They are used to analyze consumer perceptions of a brand relative to competing products. 
C)  They are used by marketers to identify supplier and retailer perceptions of a product. 
D)  They are used by marketers to divide a market into smaller groups with distinct characteristics. 
E)  They are used to plot the geographic segments that a company needs to target. 
A)  They are used to divide buyers into groups based on their perceived income and age. 
B)  They are used to analyze consumer perceptions of a brand relative to competing products. 
C)  They are used by marketers to identify supplier and retailer perceptions of a product. 
D)  They are used by marketers to divide a market into smaller groups with distinct characteristics. 
E)  They are used to plot the geographic segments that a company needs to target.

Question 2

How do businesses segment their markets?

Accepted Answer

Consumer and business marketers use many

Question 3

Target and Kohl's have opened smaller-format stores designed to fit the needs of densely packed urban neighbourhoods. This is an example of geographic segmentation.

Accepted Answer

A) True 
 B)False

Question 4

Atlantic Coast, a wholesale lobster distributor, groups its customers by regions in Canada, such as Central, Atlantic, Pacific and Prairies. For each region, Atlantic Coast tailors a different set of advertisements and promotions. The supplier is segmenting its market according to .

Accepted Answer

A)  personality characteristics 
B)  behavioural factors 
C)  geographic location 
D)  demographics 
E)  benefits sought 
A)  personality characteristics 
B)  behavioural factors 
C)  geographic location 
D)  demographics 
E)  benefits sought

Question 5

Cian, an automobile manufacturer, offers a new car model with features comparable to that of another popular brand. However, the Cian model is priced lower than its competitor and includes a longer warranty. Cian is most likely following a more-for-the-same strategy.

Accepted Answer

A) True 
 B)False

Question 6

Instead of going after a small share of a large market, Stance socks is an example of a company that is going after a large share of one smaller segment. This is an example of .

Accepted Answer

A)  differentiated marketing 
B)  concentrated marketing 
C)  extreme marketing 
D)  segmented marketing 
E)  local marketing 
A)  differentiated marketing 
B)  concentrated marketing 
C)  extreme marketing 
D)  segmented marketing 
E)  local marketing

Question 7

Brand differences are worth promoting if they satisfy certain criteria. What are these criteria?

Accepted Answer

A brand difference is worth establishing

Question 8

Cupcake Gourmet, a high-end bakery in Manhattan, segments its customers according to those who frequent their store regularly, those who visit infrequently, and those who have never visited. This is an example of usage-rate segmentation.

Accepted Answer

A) True 
 B)False

Question 9

Zeal is a popular automobile brand, and its positioning statement is: "For upscale Canadian families who require large vehicles, Zeal is the automobile of choice." Which of the following mandatory elements is missing from the positioning statement?

Accepted Answer

A)  brand name 
B)  target audience 
C)  point of difference 
D)  need 
E)  product category 
A)  brand name 
B)  target audience 
C)  point of difference 
D)  need 
E)  product category

Question 10

Even if a segment has the right size and growth and is structurally attractive, a company must consider its own objectives and resources before targeting that segment.

Accepted Answer

A) True 
 B)False

Question 11

Using a differentiated marketing strategy, a company is likely to design a product and a marketing program that will appeal to the largest number of buyers.

Accepted Answer

A) True 
 B)False

Question 12

Developing separate marketing plans for separate segments requires very little marketing research or channel management.

Accepted Answer

A) True 
 B)False

Question 13

Canadian office furniture manufacturer Krug positions its products as superior in style, aesthetics and functionality. This is an example of differentiation.

Accepted Answer

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

Question 14

Describe age and life-cycle segmentation with examples. What are the precautions that marketers should take when using age and life-cycle segmentation?

Accepted Answer

Consumer needs and wants change with age

Question 15

The surge in popularity of Canadian Craft Breweries like Beau's All Natural Brewing Co., Coulee Brew Co., Foghorn Brewing Company, and Persephone Brewing Co are primarily designed to meet the needs and wants of specific cities or regions. These are examples of marketing.

Accepted Answer

A)  differentiated 
B)  local 
C)  niche 
D)  mass 
E)  individual 
A)  differentiated 
B)  local 
C)  niche 
D)  mass 
E)  individual

Question 16

Household Storez, a local retail store, claims to offer better products at lower prices than other retail stores. In this case, the firm's positioning reflects a value proposition.

Accepted Answer

A)  same-for-less 
B)  more-for-more 
C)  more-for-less 
D)  same-for-more 
E)  more-for-the same 
A)  same-for-less 
B)  more-for-more 
C)  more-for-less 
D)  same-for-more 
E)  more-for-the same

Question 17

Explain the four major steps in designing a customer-driven marketing strategy.

Accepted Answer

The four major steps in designing a cust

Question 18

Compare and contrast local and individual marketing.

Accepted Answer

Local marketing involves tailoring brand

Question 19

Which of the following is true of product positioning?

Accepted Answer

A)  Consumers cannot position products with or without the help of marketers. 
B)  Consumers generally reevaluate products every time they make a buying decision. 
C)  To simplify the buying process, consumers are likely to position products in their minds. 
D)  A product's position is defined by the number of competitors in a market. 
E)  Product positioning has little influence on the design of marketing mixes. 
A)  Consumers cannot position products with or without the help of marketers. 
B)  Consumers generally reevaluate products every time they make a buying decision. 
C)  To simplify the buying process, consumers are likely to position products in their minds. 
D)  A product's position is defined by the number of competitors in a market. 
E)  Product positioning has little influence on the design of marketing mixes.

Question 20

The practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as .

Accepted Answer

A)  niche marketing 
B)  micromarketing 
C)  global marketing 
D)  segmented marketing 
E)  undifferentiated marketing 
A)  niche marketing 
B)  micromarketing 
C)  global marketing 
D)  segmented marketing 
E)  undifferentiated marketing

Which of the following is true of perceptual positioning maps?

How do businesses segment their markets?

Target and Kohl's have opened smaller-format stores designed to fit the needs of densely packed urban neighbourhoods. This is an example of geographic segmentation.

Atlantic Coast, a wholesale lobster distributor, groups its customers by regions in Canada, such as Central, Atlantic, Pacific and Prairies. For each region, Atlantic Coast tailors a different set of advertisements and promotions. The supplier is segmenting its market according to .

Cian, an automobile manufacturer, offers a new car model with features comparable to that of another popular brand. However, the Cian model is priced lower than its competitor and includes a longer warranty. Cian is most likely following a more-for-the-same strategy.

Instead of going after a small share of a large market, Stance socks is an example of a company that is going after a large share of one smaller segment. This is an example of .

Brand differences are worth promoting if they satisfy certain criteria. What are these criteria?

Cupcake Gourmet, a high-end bakery in Manhattan, segments its customers according to those who frequent their store regularly, those who visit infrequently, and those who have never visited. This is an example of usage-rate segmentation.

Zeal is a popular automobile brand, and its positioning statement is: "For upscale Canadian families who require large vehicles, Zeal is the automobile of choice." Which of the following mandatory elements is missing from the positioning statement?

Even if a segment has the right size and growth and is structurally attractive, a company must consider its own objectives and resources before targeting that segment.

Using a differentiated marketing strategy, a company is likely to design a product and a marketing program that will appeal to the largest number of buyers.

Developing separate marketing plans for separate segments requires very little marketing research or channel management.

Canadian office furniture manufacturer Krug positions its products as superior in style, aesthetics and functionality. This is an example of differentiation.

Describe age and life-cycle segmentation with examples. What are the precautions that marketers should take when using age and life-cycle segmentation?

The surge in popularity of Canadian Craft Breweries like Beau's All Natural Brewing Co., Coulee Brew Co., Foghorn Brewing Company, and Persephone Brewing Co are primarily designed to meet the needs and wants of specific cities or regions. These are examples of marketing.

Household Storez, a local retail store, claims to offer better products at lower prices than other retail stores. In this case, the firm's positioning reflects a value proposition.

Explain the four major steps in designing a customer-driven marketing strategy.

Compare and contrast local and individual marketing.

Which of the following is true of product positioning?

The practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as .

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

Understanding Consumer and Business Buyer Behaviour

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 6: Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Which of the following is true of perceptual positioning maps?

How do businesses segment their markets?

Target and Kohl's have opened smaller-format stores designed to fit the needs of densely packed urban neighbourhoods. This is an example of geographic segmentation.

Atlantic Coast, a wholesale lobster distributor, groups its customers by regions in Canada, such as Central, Atlantic, Pacific and Prairies. For each region, Atlantic Coast tailors a different set of advertisements and promotions. The supplier is segmenting its market according to .

Cian, an automobile manufacturer, offers a new car model with features comparable to that of another popular brand. However, the Cian model is priced lower than its competitor and includes a longer warranty. Cian is most likely following a more-for-the-same strategy.

Instead of going after a small share of a large market, Stance socks is an example of a company that is going after a large share of one smaller segment. This is an example of .

Brand differences are worth promoting if they satisfy certain criteria. What are these criteria?

Cupcake Gourmet, a high-end bakery in Manhattan, segments its customers according to those who frequent their store regularly, those who visit infrequently, and those who have never visited. This is an example of usage-rate segmentation.

Zeal is a popular automobile brand, and its positioning statement is: "For upscale Canadian families who require large vehicles, Zeal is the automobile of choice." Which of the following mandatory elements is missing from the positioning statement?

Even if a segment has the right size and growth and is structurally attractive, a company must consider its own objectives and resources before targeting that segment.

Using a differentiated marketing strategy, a company is likely to design a product and a marketing program that will appeal to the largest number of buyers.

Developing separate marketing plans for separate segments requires very little marketing research or channel management.

Canadian office furniture manufacturer Krug positions its products as superior in style, aesthetics and functionality. This is an example of differentiation.

Describe age and life-cycle segmentation with examples. What are the precautions that marketers should take when using age and life-cycle segmentation?

The surge in popularity of Canadian Craft Breweries like Beau's All Natural Brewing Co., Coulee Brew Co., Foghorn Brewing Company, and Persephone Brewing Co are primarily designed to meet the needs and wants of specific cities or regions. These are examples of marketing.

Household Storez, a local retail store, claims to offer better products at lower prices than other retail stores. In this case, the firm's positioning reflects a value proposition.

Explain the four major steps in designing a customer-driven marketing strategy.

Compare and contrast local and individual marketing.

Which of the following is true of product positioning?

The practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as .

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

Understanding Consumer and Business Buyer Behaviour

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters