Question 1

The concept of being substantial and profitable as a prerequisite for market segmentation refers to the fact that:

Accepted Answer

A) the customers in a market segment should react similarly and positively to a firm's offering. 
B) market segments should be accessible to firms through persuasive communications and product distribution. 
C) market segments should be distinct from one another for a firm to be able to design products or services to meet their needs. 
D) the buying power of customers in a market segment should be high enough to generate substantial returns from the market. 
E) the preferences of customers in a market should overlap to a great extent. 
A) the customers in a market segment should react similarly and positively to a firm's offering. 
B) market segments should be accessible to firms through persuasive communications and product distribution. 
C) market segments should be distinct from one another for a firm to be able to design products or services to meet their needs. 
D) the buying power of customers in a market segment should be high enough to generate substantial returns from the market. 
E) the preferences of customers in a market should overlap to a great extent.

Question 2

Which of the following is true of the PSYTE system?

Accepted Answer

A) It refers to the display, in two or more dimensions, of the position of products or brands in the consumer's mind. 
B) It refers to the segmentation that tailors a product or service to suit an individual customer's wants or needs. 
C) It refers to the grouping of all neighbourhoods in Canada into 60 different lifestyles clusters with specific locations. 
D) It refers to a strategy in which marketers change a brand's focus to target new markets or realign the brand's core emphasis with changing market preferences. 
E) It refers to the practice of interacting on a one-to-one basis with many people to create custom-made products or services. 
A) It refers to the display, in two or more dimensions, of the position of products or brands in the consumer's mind. 
B) It refers to the segmentation that tailors a product or service to suit an individual customer's wants or needs. 
C) It refers to the grouping of all neighbourhoods in Canada into 60 different lifestyles clusters with specific locations. 
D) It refers to a strategy in which marketers change a brand's focus to target new markets or realign the brand's core emphasis with changing market preferences. 
E) It refers to the practice of interacting on a one-to-one basis with many people to create custom-made products or services.

Question 3

Explain why geodemographic segmentation can be particularly useful for retailers.

Accepted Answer

Geodemographic segmentation can be parti

Question 4

A graph shows consumer perceptions of various automobiles on the two dimensions of sportiness/conservative and classy/affordable.The graph would be called a:

Accepted Answer

A) brand map. 
B) positioning map. 
C) perceptual map. 
D) marketing map. 
E) conceptual map. 
A) brand map. 
B) positioning map. 
C) perceptual map. 
D) marketing map. 
E) conceptual map.

Question 5

A company uses a youth icon to endorse its new range of biker glasses.The commercial symbolizes youth and freedom.An individual who wants to live a life of freedom would be attracted to the ad.In the context of psychographic segmentation, the commercial is appealing to the individual's:

Accepted Answer

A) perceptual map. 
B) ideal point. 
C) positioning statement. 
D) lifestyle. 
E) self-moral. 
A) perceptual map. 
B) ideal point. 
C) positioning statement. 
D) lifestyle. 
E) self-moral.

Question 6

Tinfol Inc. manufactured perfumes and makeup for women. Its products catered to all age groups. Because of the entry of other players into the market, the market share of Tinfol registered a drastic fall. Hence, Tinfol decided to change its strategy and segmented its consumers into categories such as middle-aged moms, young and fashion-forward consumers, and baby boomers. It offered products fulfilling the needs of each of the segments. It also set up a website where customers could mix more than 20 varieties of perfumes to create a personalized scent.
-The website provided by Tinfol allowed customers to personalize the perfumes.This is an example of:

Accepted Answer

A) differentiated targeting. 
B) mass customization. 
C) perceptual mapping. 
D) undifferentiated customization. 
E) ideal positioning. 
A) differentiated targeting. 
B) mass customization. 
C) perceptual mapping. 
D) undifferentiated customization. 
E) ideal positioning.

Question 7

Jimmy's Own Inc.introduces different kinds of snacks for the Asian and European market.In the context of segmentation bases, this is an example of:

Accepted Answer

A) geographic segmentation. 
B) benefit segmentation. 
C) demographic segmentation. 
D) loyalty segmentation. 
E) psychographic segmentation. 
A) geographic segmentation. 
B) benefit segmentation. 
C) demographic segmentation. 
D) loyalty segmentation. 
E) psychographic segmentation.

Question 8

Explain the steps that marketers can follow to derive a perceptual map with examples.

Accepted Answer

To derive a perceptual map, marketers fo

Question 9

The concept of being identifiable as a prerequisite for market segmentation refers to the fact that:

Accepted Answer

A) the customers in a particular segment should react similarly and positively to a firm's offering. 
B) market segments should be accessible to firms through persuasive communications and product distribution. 
C) market segments should be distinct from one another for a firm to be able to design products or services to meet their needs. 
D) the buying power of consumers should be high enough to generate substantial profits. 
E) market segments should overlap to a great extent to facilitate marketing mix activities. 
A) the customers in a particular segment should react similarly and positively to a firm's offering. 
B) market segments should be accessible to firms through persuasive communications and product distribution. 
C) market segments should be distinct from one another for a firm to be able to design products or services to meet their needs. 
D) the buying power of consumers should be high enough to generate substantial profits. 
E) market segments should overlap to a great extent to facilitate marketing mix activities.

Question 10

A credit card company issues a special card only to those customers who spend more than $100,000 a year on its other cards.In this case, the segmentation approach used by the company is:

Accepted Answer

A) geographic segmentation. 
B) benefit segmentation. 
C) occasion segmentation. 
D) demographic segmentation. 
E) behavioural segmentation. 
A) geographic segmentation. 
B) benefit segmentation. 
C) occasion segmentation. 
D) demographic segmentation. 
E) behavioural segmentation.

Question 11

Consumers buy many products and services because of their primary motivations-that is, how they see themselves in the world and how that self-image governs their activities.

Accepted Answer

A) True 
 B)False

Question 12

Entrepreneurial startup ventures often benefit from using a differentiated strategy, which allows them to employ their limited resources more efficiently.

Accepted Answer

A) True 
 B)False

Question 13

Cyclic Inc.launches a new bike in the market.Although it maintains the same quality as other bikes in the market, it offers a much lower price.Which of the following strategies is used by the company to create an image of a low-cost, high-quality brand among its consumers?

Accepted Answer

A) Undifferentiated targeting 
B) Positioning 
C) Perceptual mapping 
D) Mass marketing 
E) Micromarketing 
A) Undifferentiated targeting 
B) Positioning 
C) Perceptual mapping 
D) Mass marketing 
E) Micromarketing

Question 14

Which of the following is true of mass customization?

Accepted Answer

A) It refers to the display, in two or more dimensions, of the position of products or brands in the consumer's mind. 
B) It refers to a marketing strategy a firm can use if a product or service is perceived to provide the same benefits to everyone. 
C) It refers to the mental picture that people have about a company and its products or services relative to competitors. 
D) It refers to a strategy in which marketers change a brand's focus to target new markets or realign the brand's core emphasis with changing market preferences. 
E) It refers to the practice of interacting on a one-to-one basis with many people to create custom-made products or services. 
A) It refers to the display, in two or more dimensions, of the position of products or brands in the consumer's mind. 
B) It refers to a marketing strategy a firm can use if a product or service is perceived to provide the same benefits to everyone. 
C) It refers to the mental picture that people have about a company and its products or services relative to competitors. 
D) It refers to a strategy in which marketers change a brand's focus to target new markets or realign the brand's core emphasis with changing market preferences. 
E) It refers to the practice of interacting on a one-to-one basis with many people to create custom-made products or services.

Question 15

Tinfol Inc. manufactured perfumes and makeup for women. Its products catered to all age groups. Because of the entry of other players into the market, the market share of Tinfol registered a drastic fall. Hence, Tinfol decided to change its strategy and segmented its consumers into categories such as middle-aged moms, young and fashion-forward consumers, and baby boomers. It offered products fulfilling the needs of each of the segments. It also set up a website where customers could mix more than 20 varieties of perfumes to create a personalized scent.
-The entry of other players in the market persuaded Tinfol to divide its customer base into a variety of segments.The products offered to each of the segments varied.This is an example of a(n):

Accepted Answer

A) differentiated targeting strategy. 
B) ideal positioning strategy. 
C) geodemographic targeting strategy. 
D) mass customization strategy. 
E) undifferentiated customization strategy. 
A) differentiated targeting strategy. 
B) ideal positioning strategy. 
C) geodemographic targeting strategy. 
D) mass customization strategy. 
E) undifferentiated customization strategy.

Question 16

Pete's is a car rental company.It promotes itself with the line "Pete's is second to the best.So, we strive harder." When Pete's tries to create an image in the mind of the customer that it tries harder than the No.1 rental company to fulfil the demands of customers, it is using:

Accepted Answer

A) brand repositioning. 
B) positioning. 
C) perceptual mapping. 
D) mass marketing. 
E) micromarketing. 
A) brand repositioning. 
B) positioning. 
C) perceptual mapping. 
D) mass marketing. 
E) micromarketing.

Question 17

Which of the following strategies refers to the marketing strategy a firm can use if the product or service it provides is perceived to provide the same benefits to everyone and there is no need to develop separate strategies for different groups?

Accepted Answer

A) Distinguished targeting strategy 
B) Behavioural targeting strategy 
C) Perceptual mapping strategy 
D) Undifferentiated targeting strategy 
E) Ideal point strategy 
A) Distinguished targeting strategy 
B) Behavioural targeting strategy 
C) Perceptual mapping strategy 
D) Undifferentiated targeting strategy 
E) Ideal point strategy

Question 18

Makers Shoes often has interesting offers for regular customers.These customers are the first to be informed about a new collection.Also, when shoes are on sale, they receive a newsletter in which they are given the opportunity to be the first to avail themselves of the special discounts available.In this case, the segmentation approach used by the company is:

Accepted Answer

A) geographic segmentation. 
B) benefit segmentation. 
C) demographic segmentation. 
D) loyalty segmentation. 
E) psychographic segmentation. 
A) geographic segmentation. 
B) benefit segmentation. 
C) demographic segmentation. 
D) loyalty segmentation. 
E) psychographic segmentation.

Question 19

As a positioning strategy, symbolism refers to the:

Accepted Answer

A) attributes that are most important to the target market. 
B) relationship of price to quality. 
C) psychological meaning of a brand to its consumers. 
D) positioning of a product or service against a specific competitor. 
E) position of a product in the market. 
A) attributes that are most important to the target market. 
B) relationship of price to quality. 
C) psychological meaning of a brand to its consumers. 
D) positioning of a product or service against a specific competitor. 
E) position of a product in the market.

Question 20

Self-value is the image people have of themselves.

Accepted Answer

A) True 
 B)False

The concept of being substantial and profitable as a prerequisite for market segmentation refers to the fact that:

Which of the following is true of the PSYTE system?

Explain why geodemographic segmentation can be particularly useful for retailers.

A graph shows consumer perceptions of various automobiles on the two dimensions of sportiness/conservative and classy/affordable.The graph would be called a:

A company uses a youth icon to endorse its new range of biker glasses.The commercial symbolizes youth and freedom.An individual who wants to live a life of freedom would be attracted to the ad.In the context of psychographic segmentation, the commercial is appealing to the individual's:

Jimmy's Own Inc.introduces different kinds of snacks for the Asian and European market.In the context of segmentation bases, this is an example of:

Explain the steps that marketers can follow to derive a perceptual map with examples.

The concept of being identifiable as a prerequisite for market segmentation refers to the fact that:

A credit card company issues a special card only to those customers who spend more than $100,000 a year on its other cards.In this case, the segmentation approach used by the company is:

Consumers buy many products and services because of their primary motivations-that is, how they see themselves in the world and how that self-image governs their activities.

Entrepreneurial startup ventures often benefit from using a differentiated strategy, which allows them to employ their limited resources more efficiently.

Cyclic Inc.launches a new bike in the market.Although it maintains the same quality as other bikes in the market, it offers a much lower price.Which of the following strategies is used by the company to create an image of a low-cost, high-quality brand among its consumers?

Which of the following is true of mass customization?

Pete's is a car rental company.It promotes itself with the line "Pete's is second to the best.So, we strive harder." When Pete's tries to create an image in the mind of the customer that it tries harder than the No.1 rental company to fulfil the demands of customers, it is using:

Which of the following strategies refers to the marketing strategy a firm can use if the product or service it provides is perceived to provide the same benefits to everyone and there is no need to develop separate strategies for different groups?

As a positioning strategy, symbolism refers to the:

Self-value is the image people have of themselves.

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Analyzing the Marketing Environment

Consumer Behaviour

Business-To-Business Marketing

Marketing Research

Developing New Products

Product, Branding, and Packaging Decisions

Services: The Intangible Product

Pricing Concepts and Strategies: Establishing Value

Distribution Channels

Retailing and Omni-Channel Marketing

Integrated Marketing Communications

Advertising, Sales Promotions, and Personal Selling

Social and Mobile Marketing

Global Marketing

Ethics and Socially Responsible Marketing

Filters

Exam 6: Segmentation, Targeting, and Positioning

The concept of being substantial and profitable as a prerequisite for market segmentation refers to the fact that:

Which of the following is true of the PSYTE system?

Explain why geodemographic segmentation can be particularly useful for retailers.

A graph shows consumer perceptions of various automobiles on the two dimensions of sportiness/conservative and classy/affordable.The graph would be called a:

A company uses a youth icon to endorse its new range of biker glasses.The commercial symbolizes youth and freedom.An individual who wants to live a life of freedom would be attracted to the ad.In the context of psychographic segmentation, the commercial is appealing to the individual's:

Jimmy's Own Inc.introduces different kinds of snacks for the Asian and European market.In the context of segmentation bases, this is an example of:

Explain the steps that marketers can follow to derive a perceptual map with examples.

The concept of being identifiable as a prerequisite for market segmentation refers to the fact that:

A credit card company issues a special card only to those customers who spend more than $100,000 a year on its other cards.In this case, the segmentation approach used by the company is:

Consumers buy many products and services because of their primary motivations-that is, how they see themselves in the world and how that self-image governs their activities.

Entrepreneurial startup ventures often benefit from using a differentiated strategy, which allows them to employ their limited resources more efficiently.

Cyclic Inc.launches a new bike in the market.Although it maintains the same quality as other bikes in the market, it offers a much lower price.Which of the following strategies is used by the company to create an image of a low-cost, high-quality brand among its consumers?

Which of the following is true of mass customization?

Pete's is a car rental company.It promotes itself with the line "Pete's is second to the best.So, we strive harder." When Pete's tries to create an image in the mind of the customer that it tries harder than the No.1 rental company to fulfil the demands of customers, it is using:

Which of the following strategies refers to the marketing strategy a firm can use if the product or service it provides is perceived to provide the same benefits to everyone and there is no need to develop separate strategies for different groups?

As a positioning strategy, symbolism refers to the:

Self-value is the image people have of themselves.

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Analyzing the Marketing Environment

Consumer Behaviour

Business-To-Business Marketing

Marketing Research

Developing New Products

Product, Branding, and Packaging Decisions

Services: The Intangible Product

Pricing Concepts and Strategies: Establishing Value

Distribution Channels

Retailing and Omni-Channel Marketing

Integrated Marketing Communications

Advertising, Sales Promotions, and Personal Selling

Social and Mobile Marketing

Global Marketing

Ethics and Socially Responsible Marketing

Filters