Question 1

Which of the following occurs when sales of a new product cut into sales of a firm's existing products?

Accepted Answer

A) Cannibalization 
B) Product churning 
C) Backward invention 
D) Commodification 
A) Cannibalization 
B) Product churning 
C) Backward invention 
D) Commodification

Question 2

_____ is market segmentation on the basis of personality, motives, lifestyles, and geodemographics.

Accepted Answer

A) Benefit segmentation 
B) Family life cycle segmentation 
C) Usage-rate segmentation 
D) Psychographic segmentation 
A) Benefit segmentation 
B) Family life cycle segmentation 
C) Usage-rate segmentation 
D) Psychographic segmentation

Question 3

In the context of family life cycle segmentation, middle-aged married couples with or without children:

Accepted Answer

A) are hard to influence with advertising. 
B) are better off financially than young married couples with or without children. 
C) buy medical care products that aid health, sleep, and digestion. 
D) have the highest purchase rate. 
A) are hard to influence with advertising. 
B) are better off financially than young married couples with or without children. 
C) buy medical care products that aid health, sleep, and digestion. 
D) have the highest purchase rate.

Question 4

In the context of gender segmentation, which of the following statements is true?

Accepted Answer

A) Women are increasingly part of all-male markets. 
B) Women are an inexperienced purchasing group, unlike men. 
C) Men make 70 to 80 percent of purchases of consumer goods each year. 
D) Men tend to research investments in-depth more than women do. 
A) Women are increasingly part of all-male markets. 
B) Women are an inexperienced purchasing group, unlike men. 
C) Men make 70 to 80 percent of purchases of consumer goods each year. 
D) Men tend to research investments in-depth more than women do.

Question 5

The purpose of market segmentation is to:

Accepted Answer

A) change consumer attitudes and beliefs toward a product. 
B) divide a market into submarkets of equal size and equal number of customers. 
C) eliminate the need for defining marketing objectives. 
D) enable a marketer to tailor marketing mixes to meet the needs of one or more specific segments. 
A) change consumer attitudes and beliefs toward a product. 
B) divide a market into submarkets of equal size and equal number of customers. 
C) eliminate the need for defining marketing objectives. 
D) enable a marketer to tailor marketing mixes to meet the needs of one or more specific segments.

Question 6

Which of the following statements is true of product positioning?

Accepted Answer

A) It assumes that consumers compare products solely on the basis of price. 
B) There are two positioning bases, application and price. 
C) The quality of competing products does not influence product positioning. 
D) Consumer goods marketers are particularly concerned with positioning. 
A) It assumes that consumers compare products solely on the basis of price. 
B) There are two positioning bases, application and price. 
C) The quality of competing products does not influence product positioning. 
D) Consumer goods marketers are particularly concerned with positioning.

Question 7

Explain the steps involved in segmenting a market.

Accepted Answer

Answers will vary. The purpose of market

Question 8

Women tend to accumulate money for the sake of accumulation and rarely associate it with security, independence, or quality of life.

Accepted Answer

A) True 
 B)False

Question 9

A firm that adopts an undifferentiated targeting strategy assumes that:

Accepted Answer

A) a market is composed of narrowly defined market segments. 
B) small firms can compete effectively with large firms. 
C) concentrating all resources on understanding the needs of a single market results in cannibalization. 
D) individual customers have similar needs that can be met with a common marketing mix. 
A) a market is composed of narrowly defined market segments. 
B) small firms can compete effectively with large firms. 
C) concentrating all resources on understanding the needs of a single market results in cannibalization. 
D) individual customers have similar needs that can be met with a common marketing mix.

Question 10

Which of the following statements is true of market segmentation?

Accepted Answer

A) It helps marketers design marketing mixes that match the characteristics of one or more segments. 
B) It allows marketers to use an undifferentiated targeting strategy. 
C) It allows marketers to adopt a single marketing mix across all market segments. 
D) It helps marketers focus on satisfying customer needs rather than meeting the organization's objectives. 
A) It helps marketers design marketing mixes that match the characteristics of one or more segments. 
B) It allows marketers to use an undifferentiated targeting strategy. 
C) It allows marketers to adopt a single marketing mix across all market segments. 
D) It helps marketers focus on satisfying customer needs rather than meeting the organization's objectives.

Question 11

_____ refers to segmenting markets by region of a country or the world, market size, market density, or climate.

Accepted Answer

A) Geographic segmentation 
B) Benefit segmentation 
C) Demographic segmentation 
D) Usage-rate segmentation 
A) Geographic segmentation 
B) Benefit segmentation 
C) Demographic segmentation 
D) Usage-rate segmentation

Question 12

Which of the following is a similarity between a stock market and a labor market?

Accepted Answer

A) Both use a barter system to facilitate the exchange of products. 
B) Both are composed of people who are unwilling to spend large sums of money for products or services. 
C) Both are composed of people with specific wants that can be satisfied by particular product categories. 
D) Both deal in selling high-end, consumer durable products. 
A) Both use a barter system to facilitate the exchange of products. 
B) Both are composed of people who are unwilling to spend large sums of money for products or services. 
C) Both are composed of people with specific wants that can be satisfied by particular product categories. 
D) Both deal in selling high-end, consumer durable products.

Question 13

Volten Inc. is an apparel store. It has separate sections for casual wear, office wear, and party wear. It also has goods of varying prices to suit people of various income levels. In this way, it caters to different sections of the society. Volten Inc. demonstrates positioning by _____.

Accepted Answer

A) product class 
B) application 
C) competitor 
D) product user 
A) product class 
B) application 
C) competitor 
D) product user

Question 14

_____ helps marketers develop marketing programs tailored to prospective buyers who live in small regions or who have very specific lifestyle.

Accepted Answer

A) Benefit segmentation 
B) Family life cycle segmentation 
C) Ethnic segmentation 
D) Geodemographic segmentation 
A) Benefit segmentation 
B) Family life cycle segmentation 
C) Ethnic segmentation 
D) Geodemographic segmentation

Question 15

_____ involves dividing a market into groups such as newborns, infants, young children, tweens, Millennials, Generation X, baby boomers, and seniors.

Accepted Answer

A) Ethnic segmentation 
B) Family life cycle segmentation 
C) Age segmentation 
D) Psychographic segmentation 
A) Ethnic segmentation 
B) Family life cycle segmentation 
C) Age segmentation 
D) Psychographic segmentation

Question 16

In the context of product positioning, the distinctions between products can be either real or perceived.

Accepted Answer

A) True 
 B)False

Question 17

According to family life cycle segmentation, consumption patterns among people of the same age and gender differ because they are in different stages of the family life cycle.

Accepted Answer

A) True 
 B)False

Question 18

Ethnic segmentation involves segmenting potential customers into neighborhood lifestyle categories.

Accepted Answer

A) True 
 B)False

Question 19

Mass-marketing efforts will continue to be used by marketers:

Accepted Answer

A) because consumers have more time to make purchase decisions. 
B) to gather detailed information on customers, which is not possible in direct marketing. 
C) to remind consumers of a product. 
D) because they allow marketers to target customers with extremely relevant offerings. 
A) because consumers have more time to make purchase decisions. 
B) to gather detailed information on customers, which is not possible in direct marketing. 
C) to remind consumers of a product. 
D) because they allow marketers to target customers with extremely relevant offerings.

Question 20

A concentrated strategy can be disastrous for a firm that is not successful in its narrowly defined target market.

Accepted Answer

A) True 
 B)False

Which of the following occurs when sales of a new product cut into sales of a firm's existing products?

_____ is market segmentation on the basis of personality, motives, lifestyles, and geodemographics.

In the context of family life cycle segmentation, middle-aged married couples with or without children:

In the context of gender segmentation, which of the following statements is true?

The purpose of market segmentation is to:

Which of the following statements is true of product positioning?

Explain the steps involved in segmenting a market.

Women tend to accumulate money for the sake of accumulation and rarely associate it with security, independence, or quality of life.

A firm that adopts an undifferentiated targeting strategy assumes that:

Which of the following statements is true of market segmentation?

_____ refers to segmenting markets by region of a country or the world, market size, market density, or climate.

Which of the following is a similarity between a stock market and a labor market?

Volten Inc. is an apparel store. It has separate sections for casual wear, office wear, and party wear. It also has goods of varying prices to suit people of various income levels. In this way, it caters to different sections of the society. Volten Inc. demonstrates positioning by _____.

_____ helps marketers develop marketing programs tailored to prospective buyers who live in small regions or who have very specific lifestyle.

_____ involves dividing a market into groups such as newborns, infants, young children, tweens, Millennials, Generation X, baby boomers, and seniors.

In the context of product positioning, the distinctions between products can be either real or perceived.

According to family life cycle segmentation, consumption patterns among people of the same age and gender differ because they are in different stages of the family life cycle.

Ethnic segmentation involves segmenting potential customers into neighborhood lifestyle categories.

Mass-marketing efforts will continue to be used by marketers:

A concentrated strategy can be disastrous for a firm that is not successful in its narrowly defined target market.

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising, Public Relations, and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters

Exam 8: Segmenting and Targeting Markets

Which of the following occurs when sales of a new product cut into sales of a firm's existing products?

_____ is market segmentation on the basis of personality, motives, lifestyles, and geodemographics.

In the context of family life cycle segmentation, middle-aged married couples with or without children:

In the context of gender segmentation, which of the following statements is true?

The purpose of market segmentation is to:

Which of the following statements is true of product positioning?

Explain the steps involved in segmenting a market.

Women tend to accumulate money for the sake of accumulation and rarely associate it with security, independence, or quality of life.

A firm that adopts an undifferentiated targeting strategy assumes that:

Which of the following statements is true of market segmentation?

_____ refers to segmenting markets by region of a country or the world, market size, market density, or climate.

Which of the following is a similarity between a stock market and a labor market?

Volten Inc. is an apparel store. It has separate sections for casual wear, office wear, and party wear. It also has goods of varying prices to suit people of various income levels. In this way, it caters to different sections of the society. Volten Inc. demonstrates positioning by _____.

_____ helps marketers develop marketing programs tailored to prospective buyers who live in small regions or who have very specific lifestyle.

_____ involves dividing a market into groups such as newborns, infants, young children, tweens, Millennials, Generation X, baby boomers, and seniors.

In the context of product positioning, the distinctions between products can be either real or perceived.

According to family life cycle segmentation, consumption patterns among people of the same age and gender differ because they are in different stages of the family life cycle.

Ethnic segmentation involves segmenting potential customers into neighborhood lifestyle categories.

Mass-marketing efforts will continue to be used by marketers:

A concentrated strategy can be disastrous for a firm that is not successful in its narrowly defined target market.

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising, Public Relations, and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters