Question 1

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 2

Wonk is a unique furniture company that design, builds, and retails in Brooklyn, NY. You can customize your design with creative input, including personalizing items with wood and lacquer options or environmentally conscious materials and finishes, though the options are not unlimited. Wonk relies on

Accepted Answer

A)  order customization. 
B)  a one product, one market segment strategy. 
C)  build-to-order manufacturing. 
D)  specialty customization. 
E)  mass customization. 
A)  order customization. 
B)  a one product, one market segment strategy. 
C)  build-to-order manufacturing. 
D)  specialty customization. 
E)  mass customization.

Question 3

Determining the size of specific markets within a market-product grid is helpful in determining which target market segments to select and

Accepted Answer

A)  how to implement the 80/20 rule. 
B)  which products to group into meaningful categories. 
C)  how to implement a harvesting strategy. 
D)  which product groupings to offer. 
E)  which products to reposition. 
A)  how to implement the 80/20 rule. 
B)  which products to group into meaningful categories. 
C)  how to implement a harvesting strategy. 
D)  which product groupings to offer. 
E)  which products to reposition.

Question 4

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 5

In the athletic shoe market, Adidas AG and Nike, Inc. practice ________ positioning since both companies vie for the same customers with technologically advanced products.

Accepted Answer

A)  psychological 
B)  perceptual 
C)  differentiation 
D)  head-to-head 
E)  market 
A)  psychological 
B)  perceptual 
C)  differentiation 
D)  head-to-head 
E)  market

Question 6

There are five steps involved in segmenting and targeting markets. What should a marketer do after he or she has grouped products to be sold into categories?

Accepted Answer

A)  Create product groupings. 
B)  Identify market needs. 
C)  Take marketing actions to reach target markets. 
D)  Develop a market-product grid and estimate size of markets. 
E)  Form prospective buyers into market segments. 
A)  Create product groupings. 
B)  Identify market needs. 
C)  Take marketing actions to reach target markets. 
D)  Develop a market-product grid and estimate size of markets. 
E)  Form prospective buyers into market segments.

Question 7

Variables that are based on some objective physical (gender, ethnicity), measurable (age, income), or other classification attribute (occupation) of prospective customers are used in which segmentation basis?

Accepted Answer

A)  personality 
B)  usage 
C)  needs 
D)  demographic 
E)  behavioral 
A)  personality 
B)  usage 
C)  needs 
D)  demographic 
E)  behavioral

Question 8

Tony Hsieh, CEO of Zappos, offers up to $5,000 to anyone who

Accepted Answer

A)  identifies a completely new market segment with a product to match it. 
B)  finds a way of improving service to online customers. 
C)  takes its customer loyalty training class and decides to quit anyway. 
D)  finds a shoe-related product that Zappos does not already carry. 
E)  creates a humorous theme for one of the monthly company meetings. 
A)  identifies a completely new market segment with a product to match it. 
B)  finds a way of improving service to online customers. 
C)  takes its customer loyalty training class and decides to quit anyway. 
D)  finds a shoe-related product that Zappos does not already carry. 
E)  creates a humorous theme for one of the monthly company meetings.

Question 9

In the sneaker business, Heelys practiced ________ positioning when it introduced a line of Heelys sneakers that came with an imbedded, detachable wheel in the shoe's heel marketed to young teens.

Accepted Answer

A)  head-to-head 
B)  parallel market 
C)  reflexive 
D)  revised 
E)  differentiation 
A)  head-to-head 
B)  parallel market 
C)  reflexive 
D)  revised 
E)  differentiation

Question 10

Which of the following statements demonstrate the formation of a segment based on household size?

Accepted Answer

A)  Campbell's makes a spicier nacho cheese sauce for its distributors in Texas than it does in Maine. 
B)  GE built a smaller microwave oven to hang under kitchen cabinets. 
C)  Del Monte offers a line of canned fruit with no added sugar or artificial sweeteners. 
D)  A fast-food hamburger restaurant is only open for breakfast on weekdays and Saturdays but not Sundays. 
E)  A gourmet grocer advertises its services on a small-audience classical music station even though there is a much larger-audience rock station in the area. 
A)  Campbell's makes a spicier nacho cheese sauce for its distributors in Texas than it does in Maine. 
B)  GE built a smaller microwave oven to hang under kitchen cabinets. 
C)  Del Monte offers a line of canned fruit with no added sugar or artificial sweeteners. 
D)  A fast-food hamburger restaurant is only open for breakfast on weekdays and Saturdays but not Sundays. 
E)  A gourmet grocer advertises its services on a small-audience classical music station even though there is a much larger-audience rock station in the area.

Question 11

Manufacturing a product only when there is an order from a customer is referred to as

Accepted Answer

A)  order customization. 
B)  a one product, one market segment strategy. 
C)  synergistic marketing. 
D)  build-to-order. 
E)  specialty customization. 
A)  order customization. 
B)  a one product, one market segment strategy. 
C)  synergistic marketing. 
D)  build-to-order. 
E)  specialty customization.

Question 12

When a firm produces only a single product or service and attempts to sell it to two or more market segments, it avoids

Accepted Answer

A)  the extra cost of developing and producing additional versions of the product. 
B)  creating a customer service gap. 
C)  indirect distribution and logistics problems. 
D)  restructuring the firm's strategic planning. 
E)  amortization costs of product enhancements. 
A)  the extra cost of developing and producing additional versions of the product. 
B)  creating a customer service gap. 
C)  indirect distribution and logistics problems. 
D)  restructuring the firm's strategic planning. 
E)  amortization costs of product enhancements.

Question 13

Describe the market segmentation process.

Accepted Answer

Market segmentation first stresses the i

Question 14

The O3 technology refers to an innovative tennis racquet Prince Sports developed that simultaneously delivers faster racquet speed and a bigger sweet spot in the middle of the frame. Prince Sports has implemented a ________ strategy with its O3 innovative tennis racquet technology.

Accepted Answer

A)  competitive segmentation 
B)  head-to-head 
C)  product differentiation 
D)  usage segmentation 
E)  market segmentation 
A)  competitive segmentation 
B)  head-to-head 
C)  product differentiation 
D)  usage segmentation 
E)  market segmentation

Question 15

Custom Foot operates six retail locations. At first glance, none looks different from a typical boot store. But here the only boots on hand are display models. There is no inventory for sale and customers go home empty-handed, awaiting their orders. Customers browse the store, choosing style, color, and leather type, with about 100 displays to provide style guidelines. Custom Foot guarantees your boots will be ready within three weeks. This is an example of

Accepted Answer

A)  mass customization. 
B)  specialty customization. 
C)  virtual merchandising. 
D)  one product and multiple market segments. 
E)  multiple products and multiple market segments. 
A)  mass customization. 
B)  specialty customization. 
C)  virtual merchandising. 
D)  one product and multiple market segments. 
E)  multiple products and multiple market segments.

Question 16

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

Accepted Answer

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

Question 17

ChoiceShirts is an online company that makes made-to-order T-shirts. Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch. This is an example of

Accepted Answer

A)  family branding. 
B)  mass customization. 
C)  multiple products and multiple market segments. 
D)  one product and multiple market segments. 
E)  specialty customization. 
A)  family branding. 
B)  mass customization. 
C)  multiple products and multiple market segments. 
D)  one product and multiple market segments. 
E)  specialty customization.

Question 18

Todd Harris and Associates, a New York sales promotion agency, discovered from an analysis of its files that one-quarter (or 25 percent) of its clients generated more than three-quarters (or 75 percent) of its fees and commissions. This is an example of what classic concept?

Accepted Answer

A)  the two quarter gap 
B)  the 80/20 rule 
C)  the law of usage 
D)  the 75/25 exchange 
E)  Paget's Law 
A)  the two quarter gap 
B)  the 80/20 rule 
C)  the law of usage 
D)  the 75/25 exchange 
E)  Paget's Law

Question 19

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 20

Zappos' original target market customers consisted of people who wanted all of the following except which?

Accepted Answer

A)  to receive quick delivery of their merchandise 
B)  to buy sustainable shoes, accessories, and clothing 
C)  to shop online in the convenience of their own homes 
D)  to return goods for free if dissatisfied 
E)  to choose from a wide selection of shoes 
A)  to receive quick delivery of their merchandise 
B)  to buy sustainable shoes, accessories, and clothing 
C)  to shop online in the convenience of their own homes 
D)  to return goods for free if dissatisfied 
E)  to choose from a wide selection of shoes

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

Determining the size of specific markets within a market-product grid is helpful in determining which target market segments to select and

Organizational synergy is the increased customer value achieved through

In the athletic shoe market, Adidas AG and Nike, Inc. practice ________ positioning since both companies vie for the same customers with technologically advanced products.

There are five steps involved in segmenting and targeting markets. What should a marketer do after he or she has grouped products to be sold into categories?

Variables that are based on some objective physical (gender, ethnicity), measurable (age, income), or other classification attribute (occupation) of prospective customers are used in which segmentation basis?

Tony Hsieh, CEO of Zappos, offers up to $5,000 to anyone who

In the sneaker business, Heelys practiced ________ positioning when it introduced a line of Heelys sneakers that came with an imbedded, detachable wheel in the shoe's heel marketed to young teens.

Which of the following statements demonstrate the formation of a segment based on household size?

Manufacturing a product only when there is an order from a customer is referred to as

When a firm produces only a single product or service and attempts to sell it to two or more market segments, it avoids

Describe the market segmentation process.

The O3 technology refers to an innovative tennis racquet Prince Sports developed that simultaneously delivers faster racquet speed and a bigger sweet spot in the middle of the frame. Prince Sports has implemented a ________ strategy with its O3 innovative tennis racquet technology.

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

ChoiceShirts is an online company that makes made-to-order T-shirts. Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch. This is an example of

Todd Harris and Associates, a New York sales promotion agency, discovered from an analysis of its files that one-quarter (or 25 percent) of its clients generated more than three-quarters (or 75 percent) of its fees and commissions. This is an example of what classic concept?

Zappos' original target market customers consisted of people who wanted all of the following except which?

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

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

Determining the size of specific markets within a market-product grid is helpful in determining which target market segments to select and

Organizational synergy is the increased customer value achieved through

In the athletic shoe market, Adidas AG and Nike, Inc. practice ________ positioning since both companies vie for the same customers with technologically advanced products.

There are five steps involved in segmenting and targeting markets. What should a marketer do after he or she has grouped products to be sold into categories?

Variables that are based on some objective physical (gender, ethnicity), measurable (age, income), or other classification attribute (occupation) of prospective customers are used in which segmentation basis?

Tony Hsieh, CEO of Zappos, offers up to $5,000 to anyone who

In the sneaker business, Heelys practiced ________ positioning when it introduced a line of Heelys sneakers that came with an imbedded, detachable wheel in the shoe's heel marketed to young teens.

Which of the following statements demonstrate the formation of a segment based on household size?

Manufacturing a product only when there is an order from a customer is referred to as

When a firm produces only a single product or service and attempts to sell it to two or more market segments, it avoids

Describe the market segmentation process.

The O3 technology refers to an innovative tennis racquet Prince Sports developed that simultaneously delivers faster racquet speed and a bigger sweet spot in the middle of the frame. Prince Sports has implemented a ________ strategy with its O3 innovative tennis racquet technology.

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

ChoiceShirts is an online company that makes made-to-order T-shirts. Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch. This is an example of

Todd Harris and Associates, a New York sales promotion agency, discovered from an analysis of its files that one-quarter (or 25 percent) of its clients generated more than three-quarters (or 75 percent) of its fees and commissions. This is an example of what classic concept?

Zappos' original target market customers consisted of people who wanted all of the following except which?

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