Question 1

Zappos offers value to its customers by

Accepted Answer

A)  offering the best selection of shoes and the best service to online shoppers. 
B)  designing shoes for every type of occasion. 
C)  dividing all their customers into two distinct segments: people shopping for low price and people shopping for style. 
D)  offering the best access to fashionable shoes through multiple channels of distribution. 
E)  maintaining the simplest method of pricing to make the purchase process easy. 
A)  offering the best selection of shoes and the best service to online shoppers. 
B)  designing shoes for every type of occasion. 
C)  dividing all their customers into two distinct segments: people shopping for low price and people shopping for style. 
D)  offering the best access to fashionable shoes through multiple channels of distribution. 
E)  maintaining the simplest method of pricing to make the purchase process easy.

Question 2

According to an Apple market-product grid for its personal computer line, Apple would most likely get the least product synergies from the

Accepted Answer

A)  The most expensive products, Mac Pro and MacBook Pro. 
B)  The most versatile products, Mac Pro and iMac. 
C)  The products with the most complimentary market segments, iMac and MacBook Air. 
D)  The products with the fewest complimentary market segments, Mac Pro and Mac Mini. 
E)  The least frequently updated products, MacBook Air and Mac Mini. 
A)  The most expensive products, Mac Pro and MacBook Pro. 
B)  The most versatile products, Mac Pro and iMac. 
C)  The products with the most complimentary market segments, iMac and MacBook Air. 
D)  The products with the fewest complimentary market segments, Mac Pro and Mac Mini. 
E)  The least frequently updated products, MacBook Air and Mac Mini.

Question 3

A nonprofit food bank was handing out food to anyone who requested it on a weekly basis. It now wants to give free food only to people who go hungry on a daily basis. This will be the market segment it targets. How does the formation of its market segments differ from the strategy used for a retail store?

Accepted Answer

There is one key difference between for-

Question 4

Which of the following is not a criterion that would support forming market segments?

Accepted Answer

A)  The ability to assign buyers to a segment is cost-effective and simple. 
B)  The result of segmenting will cause an increase in market share or profit. 
C)  There are significant similarities among buyers in the market segment. 
D)  There is a potential marketing action to reach the segment. 
E)  The cost to reach the segment exceeds the expected returns. 
A)  The ability to assign buyers to a segment is cost-effective and simple. 
B)  The result of segmenting will cause an increase in market share or profit. 
C)  There are significant similarities among buyers in the market segment. 
D)  There is a potential marketing action to reach the segment. 
E)  The cost to reach the segment exceeds the expected returns.

Question 5

Usage rate is

Accepted Answer

A)  the percentage of total possible users divided by the total number of consumers who actually use a product or service. 
B)  the number of times a customer uses or recommends a product or service annually. 
C)  quantity consumed or patronage (store visits) during a specific period. 
D)  the maximum number of times a customer has used a product or service historically. 
E)  the profits a firm earns from customers who consume a particular product or service. 
A)  the percentage of total possible users divided by the total number of consumers who actually use a product or service. 
B)  the number of times a customer uses or recommends a product or service annually. 
C)  quantity consumed or patronage (store visits) during a specific period. 
D)  the maximum number of times a customer has used a product or service historically. 
E)  the profits a firm earns from customers who consume a particular product or service.

Question 6

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 7

After establishing the market segments and product groupings on a market-product grid, the next step is to

Accepted Answer

A)  fill in the appropriate cells with precise statistical data from primary and/or secondary sources. 
B)  estimate, with intelligent guesstimates as necessary, the market size for each cell. 
C)  total the vertical columns to identify the greatest marketing synergies and efficiencies. 
D)  total the horizontal rows to identify greatest operations/production synergies and efficiencies. 
E)  identify a marketing action for every product-market combination in the grid. 
A)  fill in the appropriate cells with precise statistical data from primary and/or secondary sources. 
B)  estimate, with intelligent guesstimates as necessary, the market size for each cell. 
C)  total the vertical columns to identify the greatest marketing synergies and efficiencies. 
D)  total the horizontal rows to identify greatest operations/production synergies and efficiencies. 
E)  identify a marketing action for every product-market combination in the grid.

Question 8

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 9

Figure 8-2
-Consider Figure 8-2. My Pillow uses infomercials and product demonstrations at events such as state fairs to market its line of pillows that are guaranteed to be "the most comfortable pillow you'll ever own!" Based on the market research shown in Figure 8-2, which market-product combination should My Pillow target?

Accepted Answer

A)  stomach sleeper-firm pillow 
B)  back sleeper-medium pillow 
C)  side sleeper-firm pillow 
D)  stomach sleeper-soft pillow 
E)  side sleeper-soft pillow 
A)  stomach sleeper-firm pillow 
B)  back sleeper-medium pillow 
C)  side sleeper-firm pillow 
D)  stomach sleeper-soft pillow 
E)  side sleeper-soft pillow

Question 10

By dividing its tennis racquet market into three categories, which it labels Performance, Recreational, and Junior tennis players, Prince Sports is using a marketing strategy called

Accepted Answer

A)  product differentiation. 
B)  product innovation. 
C)  market delineation. 
D)  market segmentation. 
E)  product groupings. 
A)  product differentiation. 
B)  product innovation. 
C)  market delineation. 
D)  market segmentation. 
E)  product groupings.

Question 11

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the following question:

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 12

Recently, U.S. dairies, struggling to increase milk sales, tried to change the way adults thought about chocolate milk. The dairies wanted to ________ chocolate milk in the minds of adult consumers.

Accepted Answer

A)  segment 
B)  differentiate 
C)  explain 
D)  promote 
E)  reposition 
A)  segment 
B)  differentiate 
C)  explain 
D)  promote 
E)  reposition

Question 13

Airlines have developed frequent-flyer programs to encourage passengers to use the same airline repeatedly. This marketing strategy is based on

Accepted Answer

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

Question 14

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

Accepted Answer

Product differentiation involves a firm

Question 15

Marketers use perceptual maps as a means to display in two dimensions the location of products or brands

Accepted Answer

A)  against large market segments in a market-product grid. 
B)  against small market segments in a market-product grid. 
C)  in virtual space that represents the business or product's time in existence and growth. 
D)  in the minds of consumers. 
E)  against the revenues generated by other products or brands within the company. 
A)  against large market segments in a market-product grid. 
B)  against small market segments in a market-product grid. 
C)  in virtual space that represents the business or product's time in existence and growth. 
D)  in the minds of consumers. 
E)  against the revenues generated by other products or brands within the company.

Question 16

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 17

A marketing manager goes through several steps to put a market segmentation plan into effect. This includes forming market segments and then ________ without encountering excessive costs.

Accepted Answer

A)  eliminating potential nonbuyers 
B)  identifying segmentation variables 
C)  selecting the market segments to target 
D)  redirecting their purchase behaviors 
E)  ignoring any and all similarities 
A)  eliminating potential nonbuyers 
B)  identifying segmentation variables 
C)  selecting the market segments to target 
D)  redirecting their purchase behaviors 
E)  ignoring any and all similarities

Question 18

Figure 8-2
-The table in Figure 8-2 is known as a

Accepted Answer

A)  needs table. 
B)  cross-tabulation. 
C)  market-product grid. 
D)  growth-share matrix. 
E)  product differentiation table. 
A)  needs table. 
B)  cross-tabulation. 
C)  market-product grid. 
D)  growth-share matrix. 
E)  product differentiation table.

Question 19

Region and city size are both variables used to employ ________ segmentation.

Accepted Answer

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

Question 20

Which of the following is a consumer market demographic segmentation variable?

Accepted Answer

A)  personality 
B)  age 
C)  usage rate 
D)  needs 
E)  region 
A)  personality 
B)  age 
C)  usage rate 
D)  needs 
E)  region

Zappos offers value to its customers by

According to an Apple market-product grid for its personal computer line, Apple would most likely get the least product synergies from the

Which of the following is not a criterion that would support forming market segments?

Usage rate is

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

After establishing the market segments and product groupings on a market-product grid, the next step is to

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

By dividing its tennis racquet market into three categories, which it labels Performance, Recreational, and Junior tennis players, Prince Sports is using a marketing strategy called

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the following question:

Recently, U.S. dairies, struggling to increase milk sales, tried to change the way adults thought about chocolate milk. The dairies wanted to ________ chocolate milk in the minds of adult consumers.

Airlines have developed frequent-flyer programs to encourage passengers to use the same airline repeatedly. This marketing strategy is based on

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

Marketers use perceptual maps as a means to display in two dimensions the location of products or brands

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

A marketing manager goes through several steps to put a market segmentation plan into effect. This includes forming market segments and then ________ without encountering excessive costs.

Figure 8-2 -The table in Figure 8-2 is known as a

Region and city size are both variables used to employ ________ segmentation.

Which of the following is a consumer market demographic segmentation variable?

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

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

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Implementing Interactive and Multichannel Marketing

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

Filters

Exam 8: Market Segmentation, Targeting, and Positioning

Zappos offers value to its customers by

According to an Apple market-product grid for its personal computer line, Apple would most likely get the least product synergies from the

Which of the following is not a criterion that would support forming market segments?

Usage rate is

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

After establishing the market segments and product groupings on a market-product grid, the next step is to

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

By dividing its tennis racquet market into three categories, which it labels Performance, Recreational, and Junior tennis players, Prince Sports is using a marketing strategy called

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the following question:

Recently, U.S. dairies, struggling to increase milk sales, tried to change the way adults thought about chocolate milk. The dairies wanted to ________ chocolate milk in the minds of adult consumers.

Airlines have developed frequent-flyer programs to encourage passengers to use the same airline repeatedly. This marketing strategy is based on

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

Marketers use perceptual maps as a means to display in two dimensions the location of products or brands

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

A marketing manager goes through several steps to put a market segmentation plan into effect. This includes forming market segments and then ________ without encountering excessive costs.

Figure 8-2 -The table in Figure 8-2 is known as a

Region and city size are both variables used to employ ________ segmentation.

Which of the following is a consumer market demographic segmentation variable?

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

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

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Implementing Interactive and Multichannel Marketing

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

Filters