Question 1

What are the primary requirements for effective market segmentation?

Accepted Answer

To be useful, market segments must be:
1

Question 2

Which of the following is NOT one of the major variables used in segmenting consumer markets?

Accepted Answer

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

Question 3

Several structural factors affect long-run segment attractiveness. These include all of the following EXCEPT ________.

Accepted Answer

A)  easy entry by new competitors 
B)  the segment does not match the company's long-run objectives 
C)  strong and aggressive competitors 
D)  many substitute products 
E)  power of buyers 
A)  easy entry by new competitors 
B)  the segment does not match the company's long-run objectives 
C)  strong and aggressive competitors 
D)  many substitute products 
E)  power of buyers

Question 4

A ________ consists of a set of buyers who share common needs or characteristics that the company decides to serve.

Accepted Answer

A)  marketing channel 
B)  citizen-action group 
C)  distribution channel 
D)  customer franchise 
E)  target market 
A)  marketing channel 
B)  citizen-action group 
C)  distribution channel 
D)  customer franchise 
E)  target market

Question 5

Geographic segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is true with regard to the same for less value proposition?

Accepted Answer

A)  Discount stores and "category killers" rarely use the same-for-less value proposition. 
B)  The same-for-less value proposition is mostly offered by marketers who sell higher quality upscale products or services. 
C)  The same-for-less value proposition cannot generate profits. 
D)  Offering the same for less can be a powerful value proposition because everyone likes a good deal. 
E)  The same-for-less positioning involves meeting consumers' lower performance or quality requirements at a much lower price. 
A)  Discount stores and "category killers" rarely use the same-for-less value proposition. 
B)  The same-for-less value proposition is mostly offered by marketers who sell higher quality upscale products or services. 
C)  The same-for-less value proposition cannot generate profits. 
D)  Offering the same for less can be a powerful value proposition because everyone likes a good deal. 
E)  The same-for-less positioning involves meeting consumers' lower performance or quality requirements at a much lower price.

Question 7

Why do international markets need to be segmented?

Accepted Answer

Different countries, even those that are

Question 8

Which of the following is a drawback of local marketing?

Accepted Answer

A)  Local marketing increases manufacturing costs by reducing the economies of scale. 
B)  Local marketing requires specialization that is difficult to identify. 
C)  Local marketing is not profitable for most small firms. 
D)  Local marketing cannot accommodate the needs of modern buyers who are technology savvy. 
E)  Local marketing almost always results in brand dilution. 
A)  Local marketing increases manufacturing costs by reducing the economies of scale. 
B)  Local marketing requires specialization that is difficult to identify. 
C)  Local marketing is not profitable for most small firms. 
D)  Local marketing cannot accommodate the needs of modern buyers who are technology savvy. 
E)  Local marketing almost always results in brand dilution.

Question 9

________ show(s) consumer perceptions of a company's brands versus competing products on important buying dimensions.

Accepted Answer

A)  Differentiation 
B)  Positioning 
C)  Market targeting 
D)  Perceptual positioning maps 
E)  Market segmentation 
A)  Differentiation 
B)  Positioning 
C)  Market targeting 
D)  Perceptual positioning maps 
E)  Market segmentation

Question 10

When the size, purchasing power, and profile of a market segment can be calculated, the market is ________.

Accepted Answer

A)  measurable 
B)  profitable 
C)  substantial 
D)  actionable 
E)  competitive 
A)  measurable 
B)  profitable 
C)  substantial 
D)  actionable 
E)  competitive

Question 11

Shine Enterprises mass produces an all-purpose floor cleaner that is aimed at the whole market. This firm uses a(n) ________ marketing strategy.

Accepted Answer

A)  segmented 
B)  undifferentiated 
C)  individual 
D)  niche 
E)  one-to-one 
A)  segmented 
B)  undifferentiated 
C)  individual 
D)  niche 
E)  one-to-one

Question 12

________ marketing is more suited for uniform products, such as grapefruit or steel.

Accepted Answer

A)  Niche 
B)  Undifferentiated 
C)  One-to-one 
D)  Trigger-based 
E)  Local 
A)  Niche 
B)  Undifferentiated 
C)  One-to-one 
D)  Trigger-based 
E)  Local

Question 13

Business information services such as Experian Marketing Services and Nielsen help marketers to ________.

Accepted Answer

A)  save significant amounts of money on shipping products 
B)  spend more time identifying potential customers 
C)  learn more specific details from consumers about their products 
D)  segment people and locations into marketable groups of like-minded consumers 
E)  expand their product offerings to interested clients and provide high-quality service to them 
A)  save significant amounts of money on shipping products 
B)  spend more time identifying potential customers 
C)  learn more specific details from consumers about their products 
D)  segment people and locations into marketable groups of like-minded consumers 
E)  expand their product offerings to interested clients and provide high-quality service to them

Question 14

With technology advances making it simple to contact many customers at once, companies have moved toward mass marketing over target marketing.

Accepted Answer

A) True 
 B)False

Question 15

How do companies identify attractive market segments? How do they choose a target marketing strategy?

Accepted Answer

To target the best market segments, the

Question 16

The full mix of benefits on which a brand is differentiated and positioned is known as the brand's ________.

Accepted Answer

A)  value proposition 
B)  service life 
C)  value stream 
D)  supply chain 
E)  demand chain 
A)  value proposition 
B)  service life 
C)  value stream 
D)  supply chain 
E)  demand chain

Question 17

Intermarket segmentation refers to forming segments of consumers who have different needs and buying behaviors in a given geographical region.

Accepted Answer

A) True 
 B)False

Question 18

________ segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product.

Accepted Answer

A)  Behavioral 
B)  Psychographic 
C)  Age and life cycle 
D)  Gender 
E)  Geographic 
A)  Behavioral 
B)  Psychographic 
C)  Age and life cycle 
D)  Gender 
E)  Geographic

Question 19

Briefly describe competitive advantage.

Accepted Answer

Competitive advantage refers t

Question 20

What are the major structural factors affecting long-run segment attractiveness?

Accepted Answer

The number and strength of com

What are the primary requirements for effective market segmentation?

Which of the following is NOT one of the major variables used in segmenting consumer markets?

Several structural factors affect long-run segment attractiveness. These include all of the following EXCEPT ________.

A ________ consists of a set of buyers who share common needs or characteristics that the company decides to serve.

Geographic segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Which of the following is true with regard to the same for less value proposition?

Why do international markets need to be segmented?

Which of the following is a drawback of local marketing?

________ show(s) consumer perceptions of a company's brands versus competing products on important buying dimensions.

When the size, purchasing power, and profile of a market segment can be calculated, the market is ________.

Shine Enterprises mass produces an all-purpose floor cleaner that is aimed at the whole market. This firm uses a(n) ________ marketing strategy.

________ marketing is more suited for uniform products, such as grapefruit or steel.

Business information services such as Experian Marketing Services and Nielsen help marketers to ________.

With technology advances making it simple to contact many customers at once, companies have moved toward mass marketing over target marketing.

How do companies identify attractive market segments? How do they choose a target marketing strategy?

The full mix of benefits on which a brand is differentiated and positioned is known as the brand's ________.

Intermarket segmentation refers to forming segments of consumers who have different needs and buying behaviors in a given geographical region.

________ segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product.

Briefly describe competitive advantage.

What are the major structural factors affecting long-run segment attractiveness?

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

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 7: Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

What are the primary requirements for effective market segmentation?

Which of the following is NOT one of the major variables used in segmenting consumer markets?

Several structural factors affect long-run segment attractiveness. These include all of the following EXCEPT ________.

A ________ consists of a set of buyers who share common needs or characteristics that the company decides to serve.

Geographic segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Which of the following is true with regard to the same for less value proposition?

Why do international markets need to be segmented?

Which of the following is a drawback of local marketing?

________ show(s) consumer perceptions of a company's brands versus competing products on important buying dimensions.

When the size, purchasing power, and profile of a market segment can be calculated, the market is ________.

Shine Enterprises mass produces an all-purpose floor cleaner that is aimed at the whole market. This firm uses a(n) ________ marketing strategy.

________ marketing is more suited for uniform products, such as grapefruit or steel.

Business information services such as Experian Marketing Services and Nielsen help marketers to ________.

With technology advances making it simple to contact many customers at once, companies have moved toward mass marketing over target marketing.

How do companies identify attractive market segments? How do they choose a target marketing strategy?

The full mix of benefits on which a brand is differentiated and positioned is known as the brand's ________.

Intermarket segmentation refers to forming segments of consumers who have different needs and buying behaviors in a given geographical region.

________ segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product.

Briefly describe competitive advantage.

What are the major structural factors affecting long-run segment attractiveness?

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

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters