Question 1

Hard-core loyals can show the firm which brands are most competitive with its own.

Accepted Answer

A) True 
 B)False  False

Question 2

To be useful, a market segment should be ________, which means the largest possible homogeneous group worth going after with a tailored marketing program.

Accepted Answer

A)  measurable 
B)  substantial 
C)  accessible 
D)  differentiable 
E)  actionable 
A)  measurable 
B)  substantial 
C)  accessible 
D)  differentiable 
E)  actionable B

Question 3

A local service company has decided to segment its market based on occupation; therefore, it has chosen a form of demographic segmentation for its approach.

Accepted Answer

A) True 
 B)False  True

Question 4

Identify the four market segment groups based on brand loyalty status, and list what a company can learn from analyzing the degrees of brand loyalty.

Accepted Answer

Marketers usually envision four groups b

Question 5

Newlyweds in the United States buy more in the first six months than an established household does in five years. Newlyweds are an example of a(n) ________ segment.

Accepted Answer

A)  life stage 
B)  age 
C)  behavior 
D)  user status 
E)  income 
A)  life stage 
B)  age 
C)  behavior 
D)  user status 
E)  income

Question 6

A flexible market offering consists of two parts. Identify and describe these two parts.

Accepted Answer

A flexible market offering consists of t

Question 7

During which step of the needs-based segmentation process would the marketer group customers into segments based on similar needs and benefits sought by the customer in solving a particular consumption problem?

Accepted Answer

A)  Step 2-segment identification 
B)  Step 3-segment attractiveness 
C)  Step 6-segment "acid test" 
D)  Step 1-needs-based segmentation 
E)  Step 7-marketing-mix strategy 
A)  Step 2-segment identification 
B)  Step 3-segment attractiveness 
C)  Step 6-segment "acid test" 
D)  Step 1-needs-based segmentation 
E)  Step 7-marketing-mix strategy

Question 8

If your assignment was to create a value proposition and product-price positioning strategy for each segment, based on the segment's unique customer needs and characteristics, you would be in which of the following steps of the segmentation process?

Accepted Answer

A)  needs-based segmentation 
B)  segment identification 
C)  segment attractiveness 
D)  segment positioning 
E)  segment "acid-test" 
A)  needs-based segmentation 
B)  segment identification 
C)  segment attractiveness 
D)  segment positioning 
E)  segment "acid-test"

Question 9

A segment is unattractive if the company's suppliers are able to raise prices or reduce quantity supplied.

Accepted Answer

A) True 
 B)False

Question 10

When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes, equipment, and clothing to many of them, Nike is using which of the following marketing formats?

Accepted Answer

A)  differentiated marketing 
B)  affiliate marketing 
C)  guerrilla marketing 
D)  affinity marketing 
E)  grassroots marketing 
A)  differentiated marketing 
B)  affiliate marketing 
C)  guerrilla marketing 
D)  affinity marketing 
E)  grassroots marketing

Question 11

Briefly describe product specialization and market specialization.

Accepted Answer

With product specialization, the firm se

Question 12

In evaluating different market segments, the firm must look at two factors: the segment's overall attractiveness and the ________.

Accepted Answer

A)  company's objectives and resources 
B)  effectiveness of the suppliers 
C)  flexibility of legal rules governing the business 
D)  socio-economic infrastructure 
E)  global nature of the product 
A)  company's objectives and resources 
B)  effectiveness of the suppliers 
C)  flexibility of legal rules governing the business 
D)  socio-economic infrastructure 
E)  global nature of the product

Question 13

Explain the concept of mass marketing.

Accepted Answer

In mass marketing, the firm ignores segm

Question 14

The ultimate level of segmentation leads to "segments of one," "customized marketing," or "one-to-one marketing."

Accepted Answer

A) True 
 B)False

Question 15

The process of selecting one or more market segments to enter is called market ________.

Accepted Answer

A)  targeting 
B)  dominance 
C)  positioning 
D)  segmentation 
E)  research 
A)  targeting 
B)  dominance 
C)  positioning 
D)  segmentation 
E)  research

Question 16

Which of the following statements about market segmentation is True?

Accepted Answer

A)  It involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market. 
B)  It is a process of evaluating each segment's attractiveness and selecting one or more to enter. 
C)  It is a process of creating an image or identity of the product in the minds of the target market. 
D)  It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants. 
E)  It is the quality of how marketers go to market with the goal of optimizing their spending to achieve good results. 
A)  It involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market. 
B)  It is a process of evaluating each segment's attractiveness and selecting one or more to enter. 
C)  It is a process of creating an image or identity of the product in the minds of the target market. 
D)  It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants. 
E)  It is the quality of how marketers go to market with the goal of optimizing their spending to achieve good results.

Question 17

All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs, a strong market presence, operating economies through specializing in production, distribution, and promotion.

Accepted Answer

A)  single-segment concentration 
B)  selective specialization 
C)  product specialization 
D)  market specialization 
E)  full market coverage 
A)  single-segment concentration 
B)  selective specialization 
C)  product specialization 
D)  market specialization 
E)  full market coverage

Question 18

List the threats posed by the five forces identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment.

Accepted Answer

The threats posed by the five forces are

Question 19

Door-to-door workers in a political campaign use attitude to determine how much time to spend with each voter.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following best represents the chief advantage of pursuing a strategy of multiple segment specialization?

Accepted Answer

A)  It makes the company almost bulletproof to competitors' actions. 
B)  It diversifies the firm's risk. 
C)  It creates synergy between markets. 
D)  It is a low-cost strategy. 
E)  It treats all buyers the same and, therefore, lowers promotion costs. 
A)  It makes the company almost bulletproof to competitors' actions. 
B)  It diversifies the firm's risk. 
C)  It creates synergy between markets. 
D)  It is a low-cost strategy. 
E)  It treats all buyers the same and, therefore, lowers promotion costs.

Hard-core loyals can show the firm which brands are most competitive with its own.

To be useful, a market segment should be ________, which means the largest possible homogeneous group worth going after with a tailored marketing program.

A local service company has decided to segment its market based on occupation; therefore, it has chosen a form of demographic segmentation for its approach.

Identify the four market segment groups based on brand loyalty status, and list what a company can learn from analyzing the degrees of brand loyalty.

Newlyweds in the United States buy more in the first six months than an established household does in five years. Newlyweds are an example of a(n) ________ segment.

A flexible market offering consists of two parts. Identify and describe these two parts.

During which step of the needs-based segmentation process would the marketer group customers into segments based on similar needs and benefits sought by the customer in solving a particular consumption problem?

If your assignment was to create a value proposition and product-price positioning strategy for each segment, based on the segment's unique customer needs and characteristics, you would be in which of the following steps of the segmentation process?

A segment is unattractive if the company's suppliers are able to raise prices or reduce quantity supplied.

When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes, equipment, and clothing to many of them, Nike is using which of the following marketing formats?

Briefly describe product specialization and market specialization.

In evaluating different market segments, the firm must look at two factors: the segment's overall attractiveness and the ________.

Explain the concept of mass marketing.

The ultimate level of segmentation leads to "segments of one," "customized marketing," or "one-to-one marketing."

The process of selecting one or more market segments to enter is called market ________.

Which of the following statements about market segmentation is True?

All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs, a strong market presence, operating economies through specializing in production, distribution, and promotion.

List the threats posed by the five forces identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment.

Door-to-door workers in a political campaign use attitude to determine how much time to spend with each voter.

Which of the following best represents the chief advantage of pursuing a strategy of multiple segment specialization?

Defining Marketing for the New Realities

Developing and Implementing Marketing Strategies and Plans

Capturing Marketing Insights and Forecasting Demand

Creating Long-Term Loyalty Relationships

Analyzing Consumer and Business Markets

Crafting the Brand Positioning and Competing Effectively

Creating Brand Equity and Driving Growth

Setting Product Strategy and Introducing New Offerings

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Tapping Into Global Markets

Filters

Exam 6: Identifying Market Segments and Targets

Hard-core loyals can show the firm which brands are most competitive with its own.

To be useful, a market segment should be ________, which means the largest possible homogeneous group worth going after with a tailored marketing program.

A local service company has decided to segment its market based on occupation; therefore, it has chosen a form of demographic segmentation for its approach.

Identify the four market segment groups based on brand loyalty status, and list what a company can learn from analyzing the degrees of brand loyalty.

Newlyweds in the United States buy more in the first six months than an established household does in five years. Newlyweds are an example of a(n) ________ segment.

A flexible market offering consists of two parts. Identify and describe these two parts.

During which step of the needs-based segmentation process would the marketer group customers into segments based on similar needs and benefits sought by the customer in solving a particular consumption problem?

If your assignment was to create a value proposition and product-price positioning strategy for each segment, based on the segment's unique customer needs and characteristics, you would be in which of the following steps of the segmentation process?

A segment is unattractive if the company's suppliers are able to raise prices or reduce quantity supplied.

When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes, equipment, and clothing to many of them, Nike is using which of the following marketing formats?

Briefly describe product specialization and market specialization.

In evaluating different market segments, the firm must look at two factors: the segment's overall attractiveness and the ________.

Explain the concept of mass marketing.

The ultimate level of segmentation leads to "segments of one," "customized marketing," or "one-to-one marketing."

The process of selecting one or more market segments to enter is called market ________.

Which of the following statements about market segmentation is True?

All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs, a strong market presence, operating economies through specializing in production, distribution, and promotion.

List the threats posed by the five forces identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment.

Door-to-door workers in a political campaign use attitude to determine how much time to spend with each voter.

Which of the following best represents the chief advantage of pursuing a strategy of multiple segment specialization?

Defining Marketing for the New Realities

Developing and Implementing Marketing Strategies and Plans

Capturing Marketing Insights and Forecasting Demand

Creating Long-Term Loyalty Relationships

Analyzing Consumer and Business Markets

Crafting the Brand Positioning and Competing Effectively

Creating Brand Equity and Driving Growth

Setting Product Strategy and Introducing New Offerings

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Tapping Into Global Markets

Filters