Question 1

What can sometimes drive a company from undifferentiated to differentiated marketing?

Accepted Answer

A)  competitive pressures 
B)  efficient production 
C)  homogeneous products 
D)  lower promotional costs 
A)  competitive pressures 
B)  efficient production 
C)  homogeneous products 
D)  lower promotional costs

Question 2

After a company develops a profile for its market segment and a forecast of market potential, the next step is to estimate market share.

Accepted Answer

A) True 
 B)False

Question 3

The geographic segmentation is useful because consumers in a specific geographic location will make the same buying decisions.

Accepted Answer

A) True 
 B)False

Question 4

A market comprises any person or entity that has the willingness, authority, and purchasing power to buy a product.

Accepted Answer

A) True 
 B)False

Question 5

Explain Engle's three laws.Why are they of interest to marketers?

Accepted Answer

According to Engle's three laws, as inco

Question 6

Explain why the cohort effect is important to marketers.

Accepted Answer

The cohort effect is the tendency of mem

Question 7

What does the family life cycle refer to?

Accepted Answer

A)  a way to apply psychographic segmentation 
B)  the process of family formation and dissolution 
C)  insights into relationships among age, occupation, income, and housing 
D)  the 11 stages of personal growth from infancy to retirement 
A)  a way to apply psychographic segmentation 
B)  the process of family formation and dissolution 
C)  insights into relationships among age, occupation, income, and housing 
D)  the 11 stages of personal growth from infancy to retirement

Question 8

Which of the following is a characteristic of a Geographic Information Systems (GIS)?

Accepted Answer

A)  It is very expensive to use because of the high cost of leasing the technology from the military. 
B)  It is complicated to use because the data is produced using logarithmic displays that most small computer systems cannot handle. 
C)  It has very sophisticated digital readouts that require three-dimensional colour coding to read. 
D)  It assembles, stores, and displays data by location. 
A)  It is very expensive to use because of the high cost of leasing the technology from the military. 
B)  It is complicated to use because the data is produced using logarithmic displays that most small computer systems cannot handle. 
C)  It has very sophisticated digital readouts that require three-dimensional colour coding to read. 
D)  It assembles, stores, and displays data by location.

Question 9

Marketers are increasingly shying away from children and teen market segments because of pressures calling for social responsibility on the part of advertisers.

Accepted Answer

A) True 
 B)False

Question 10

Ford Motor Company surveyed 10 000 customers to analyze their needs and preferences in automobiles.At the end of the survey, respondents were asked to provide demographic information, including age.Responses concerning preferences were strikingly similar for each group within a specific five-year age range.What effect is this a result of?

Accepted Answer

A)  the income effect 
B)  the life-cycle effect 
C)  the cohort effect 
D)  the global-generation effect 
A)  the income effect 
B)  the life-cycle effect 
C)  the cohort effect 
D)  the global-generation effect

Question 11

Which of the following basic requirements must market segmentation meet to be effective?

Accepted Answer

A)  The firm must avoid focusing on non-variables, such as profitability and volume. 
B)  The market segment must reflect the population's changing attitudes and lifestyles. 
C)  The company must expand beyond its marketing capabilities to capture growing markets. 
D)  The market segment must have measurable purchasing power and size. 
A)  The firm must avoid focusing on non-variables, such as profitability and volume. 
B)  The market segment must reflect the population's changing attitudes and lifestyles. 
C)  The company must expand beyond its marketing capabilities to capture growing markets. 
D)  The market segment must have measurable purchasing power and size.

Question 12

Applying a micromarketing strategy will allow companies to reach larger and more lucrative markets.

Accepted Answer

A) True 
 B)False

Question 13

What does the cohort effect describe?

Accepted Answer

A)  why members of the same psychographic group decide to vote the same way 
B)  how Generation X uses its financial power to influence product trends 
C)  the predictability of demographic characteristics in analyzing purchase habits, as well as product-usage rates, and brand preference 
D)  the tendency of members of a generation to be influenced and bound together by events occurring during the key formative years 
A)  why members of the same psychographic group decide to vote the same way 
B)  how Generation X uses its financial power to influence product trends 
C)  the predictability of demographic characteristics in analyzing purchase habits, as well as product-usage rates, and brand preference 
D)  the tendency of members of a generation to be influenced and bound together by events occurring during the key formative years

Question 14

What is a commonly used basis for segmenting consumer markets?

Accepted Answer

A)  geographic segmentation based on locations 
B)  career segmentation based on industry affiliation 
C)  national segmentation based on citizenship 
D)  institutional segmentation based on membership 
A)  geographic segmentation based on locations 
B)  career segmentation based on industry affiliation 
C)  national segmentation based on citizenship 
D)  institutional segmentation based on membership

Question 15

BMW wanted to move beyond its yuppie image in order to attract buyers from the affluent car market, 75 percent of whom were not considering a BMW purchase.The new advertising campaign emphasizes that BMW is a "company of ideas" and its cars are built for the "creative class." This repositioning moves BMW from an attributes position strategy to an applications position strategy.

Accepted Answer

A) True 
 B)False

Question 16

Even though there is a make, model, and colour of car for virtually every taste and budget, automobile manufacturers must still adjust their messages for different market segments.

Accepted Answer

A) True 
 B)False

Question 17

Singles, families, and retirees could be considered market segments for a company promoting travel packages.

Accepted Answer

A) True 
 B)False

What can sometimes drive a company from undifferentiated to differentiated marketing?

After a company develops a profile for its market segment and a forecast of market potential, the next step is to estimate market share.

The geographic segmentation is useful because consumers in a specific geographic location will make the same buying decisions.

A market comprises any person or entity that has the willingness, authority, and purchasing power to buy a product.

Explain Engle's three laws.Why are they of interest to marketers?

Explain why the cohort effect is important to marketers.

What does the family life cycle refer to?

Which of the following is a characteristic of a Geographic Information Systems (GIS)?

Marketers are increasingly shying away from children and teen market segments because of pressures calling for social responsibility on the part of advertisers.

Which of the following basic requirements must market segmentation meet to be effective?

Applying a micromarketing strategy will allow companies to reach larger and more lucrative markets.

What does the cohort effect describe?

What is a commonly used basis for segmenting consumer markets?

Even though there is a make, model, and colour of car for virtually every taste and budget, automobile manufacturers must still adjust their messages for different market segments.

Singles, families, and retirees could be considered market segments for a company promoting travel packages.

Marketing: The Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Consumer Behaviour

Business-to-Business (B2B) Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers Wholesalers and Direct Marketers

Integrated Marketing Communications

Advertising and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

TB Boone 3Ce final

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Exam 8: Market Segmentation, Targeting, and Positioning

What can sometimes drive a company from undifferentiated to differentiated marketing?

After a company develops a profile for its market segment and a forecast of market potential, the next step is to estimate market share.

The geographic segmentation is useful because consumers in a specific geographic location will make the same buying decisions.

A market comprises any person or entity that has the willingness, authority, and purchasing power to buy a product.

Explain Engle's three laws.Why are they of interest to marketers?

Explain why the cohort effect is important to marketers.

What does the family life cycle refer to?

Which of the following is a characteristic of a Geographic Information Systems (GIS)?

Marketers are increasingly shying away from children and teen market segments because of pressures calling for social responsibility on the part of advertisers.

Which of the following basic requirements must market segmentation meet to be effective?

Applying a micromarketing strategy will allow companies to reach larger and more lucrative markets.

What does the cohort effect describe?

What is a commonly used basis for segmenting consumer markets?

Even though there is a make, model, and colour of car for virtually every taste and budget, automobile manufacturers must still adjust their messages for different market segments.

Singles, families, and retirees could be considered market segments for a company promoting travel packages.

Marketing: The Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Consumer Behaviour

Business-to-Business (B2B) Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers Wholesalers and Direct Marketers

Integrated Marketing Communications

Advertising and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

TB Boone 3Ce final

Filters