Question 1

A market in which sellers offer various,often diverse,ways of satisfying needs is called a ________ market.

Accepted Answer

A) product 
B) diverse 
C) general 
D) relevant 
E) generic 
A) product 
B) diverse 
C) general 
D) relevant 
E) generic

Question 2

"Too much" aggregating in market segmenting

Accepted Answer

A) ignores the criterion that product-market segments should be substantial. 
B) leaves the firm vulnerable to competitors. 
C) is usually not a very serious error because it results in economies of scale. 
D) usually makes segments more homogeneous. 
E) always tends to make the segments heterogeneous. 
A) ignores the criterion that product-market segments should be substantial. 
B) leaves the firm vulnerable to competitors. 
C) is usually not a very serious error because it results in economies of scale. 
D) usually makes segments more homogeneous. 
E) always tends to make the segments heterogeneous.

Question 3

Why is it not always possible for marketing managers to keep their offerings unique?

Accepted Answer

A) The market segment is quite broad. 
B) There are too many competitors. 
C) The customers do not care. 
D) The market is in "segments of one." 
E) The customer is a copycat. 
A) The market segment is quite broad. 
B) There are too many competitors. 
C) The customers do not care. 
D) The market is in "segments of one." 
E) The customer is a copycat.

Question 4

A firm's "relevant market for finding opportunities" should be bigger than the present product-market but not so large that it couldn't expand and still be an important competitor.

Accepted Answer

A) True 
 B)False

Question 5

The benefits of focusing on a specific target market (with the aid of marketing segmentation)do NOT include which of the following?

Accepted Answer

A) Marketers can finetune their marketing mixes,thus providing superior value to customers. 
B) Marketers can build a competitive advantage by effectively meeting customers' needs. 
C) Customers will view the firm's offerings as uniquely suited to their preferences and needs. 
D) Managers can identify the best technology for improving production methods. 
E) Managers will gain a clear,shared vision for how to proceed with marketing mix decisions. 
A) Marketers can finetune their marketing mixes,thus providing superior value to customers. 
B) Marketers can build a competitive advantage by effectively meeting customers' needs. 
C) Customers will view the firm's offerings as uniquely suited to their preferences and needs. 
D) Managers can identify the best technology for improving production methods. 
E) Managers will gain a clear,shared vision for how to proceed with marketing mix decisions.

Question 6

What purpose does a positioning statement serve?

Accepted Answer

A) to provide focus for a marketing mix 
B) to find patterns within sets of data 
C) to identify segmenting dimensions 
D) to set out a firm's basis purpose for being 
E) to compare marketing strategies among competitors 
A) to provide focus for a marketing mix 
B) to find patterns within sets of data 
C) to identify segmenting dimensions 
D) to set out a firm's basis purpose for being 
E) to compare marketing strategies among competitors

Question 7

Positioning analysis

Accepted Answer

A) helps managers understand the actual characteristics of their products. 
B) is not a product-oriented approach. 
C) is a visual aid to understanding a product-market. 
D) shows that managers and customers usually view present brands similarly. 
E) always leads a firm to segmenting and not combining. 
A) helps managers understand the actual characteristics of their products. 
B) is not a product-oriented approach. 
C) is a visual aid to understanding a product-market. 
D) shows that managers and customers usually view present brands similarly. 
E) always leads a firm to segmenting and not combining.

Question 8

The customer type component of the product-market should include

Accepted Answer

A) the buyer of the product. 
B) the type of good and service. 
C) the user of the product. 
D) the geographic area in which customers live. 
E) the guarantees offered. 
A) the buyer of the product. 
B) the type of good and service. 
C) the user of the product. 
D) the geographic area in which customers live. 
E) the guarantees offered.

Question 9

How can the current location of target customers help marketing managers?

Accepted Answer

A) It helps decide whether the customer should be served. 
B) It helps describe their market in terms of the products they sell. 
C) It helps identify a group of customers with similar needs. 
D) It helps in making offers to visit the store and make a purchase. 
E) It helps marketers gather demographic information. 
A) It helps decide whether the customer should be served. 
B) It helps describe their market in terms of the products they sell. 
C) It helps identify a group of customers with similar needs. 
D) It helps in making offers to visit the store and make a purchase. 
E) It helps marketers gather demographic information.

Question 10

Positioning is a marketing management aid that refers to

Accepted Answer

A) how closely existing products match customers' ideal preferences. 
B) how customers think about proposed and/or present brands in a market. 
C) whether some products are viewed as very similar. 
D) All these answers are correct. 
A) how closely existing products match customers' ideal preferences. 
B) how customers think about proposed and/or present brands in a market. 
C) whether some products are viewed as very similar. 
D) All these answers are correct.

Question 11

Market segmentation applies only to consumer goods and services; it cannot be applied to business products.

Accepted Answer

A) True 
 B)False

Question 12

Quality Ceramic,Inc.(QCI)defined five submarkets within its broad product-market.To obtain some economies of scale,QCI decided not to offer each of the submarkets a different marketing mix.Instead,it selected two submarkets whose needs are fairly similar,and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets.QCI is using the

Accepted Answer

A) combined target market approach. 
B) single target market approach. 
C) multiple target market approach. 
D) mass marketing approach. 
E) None of these answers is correct. 
A) combined target market approach. 
B) single target market approach. 
C) multiple target market approach. 
D) mass marketing approach. 
E) None of these answers is correct.

Question 13

International marketing typically requires less segmenting than domestic markets.

Accepted Answer

A) True 
 B)False

Question 14

A product-market is a market in which

Accepted Answer

A) all sellers offer exactly the same product. 
B) one firm has achieved a competitive advantage. 
C) all sellers offer products that are unique and innovative. 
D) sellers offer very close substitute ways of satisfying potential customers' needs. 
E) sellers offer substitute products that are quite different,physically or conceptually. 
A) all sellers offer exactly the same product. 
B) one firm has achieved a competitive advantage. 
C) all sellers offer products that are unique and innovative. 
D) sellers offer very close substitute ways of satisfying potential customers' needs. 
E) sellers offer substitute products that are quite different,physically or conceptually.

Question 15

A determining dimension for segmenting markets actually affects the purchase of a specific brand in a product-market.

Accepted Answer

A) True 
 B)False

Question 16

The combined target market approach involves segmenting the market and choosing two or more segments,then treating each as a separate target market needing a different marketing mix.

Accepted Answer

A) True 
 B)False

Question 17

A "good" market segment should be composed of people who are as homogeneous as possible with respect to their likely responses to marketing mix variables.

Accepted Answer

A) True 
 B)False

Question 18

Marketing managers want market segments to have each of the following characteristics EXCEPT

Accepted Answer

A) as similar as possible within segments. 
B) as different as possible between segments. 
C) as numerous as possible. 
D) useful for identifying marketing mix variables. 
E) large enough to be profitable. 
A) as similar as possible within segments. 
B) as different as possible between segments. 
C) as numerous as possible. 
D) useful for identifying marketing mix variables. 
E) large enough to be profitable.

Question 19

The qualifying dimensions help identify the "core benefits" that must be offered to everyone in a product-market.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following criteria should a marketing manager use when segmenting a broad product-market?

Accepted Answer

A) The segments should be substantial (big enough to be profitable)and operational (useful for identifying customers and deciding on marketing mix variables). 
B) The people within a market segment should be as homogeneous as possible with respect to the segmenting dimensions and their likely response to marketing mix variables. 
C) The people in different market segments should be as heterogeneous as possible with respect to the segmenting dimensions and their likely response to marketing mix variables. 
D) All these answers are correct. 
A) The segments should be substantial (big enough to be profitable)and operational (useful for identifying customers and deciding on marketing mix variables). 
B) The people within a market segment should be as homogeneous as possible with respect to the segmenting dimensions and their likely response to marketing mix variables. 
C) The people in different market segments should be as heterogeneous as possible with respect to the segmenting dimensions and their likely response to marketing mix variables. 
D) All these answers are correct.

A market in which sellers offer various,often diverse,ways of satisfying needs is called a ________ market.

"Too much" aggregating in market segmenting

Why is it not always possible for marketing managers to keep their offerings unique?

A firm's "relevant market for finding opportunities" should be bigger than the present product-market but not so large that it couldn't expand and still be an important competitor.

The benefits of focusing on a specific target market (with the aid of marketing segmentation)do NOT include which of the following?

What purpose does a positioning statement serve?

Positioning analysis

The customer type component of the product-market should include

How can the current location of target customers help marketing managers?

Positioning is a marketing management aid that refers to

Market segmentation applies only to consumer goods and services; it cannot be applied to business products.

International marketing typically requires less segmenting than domestic markets.

A product-market is a market in which

A determining dimension for segmenting markets actually affects the purchase of a specific brand in a product-market.

The combined target market approach involves segmenting the market and choosing two or more segments,then treating each as a separate target market needing a different marketing mix.

A "good" market segment should be composed of people who are as homogeneous as possible with respect to their likely responses to marketing mix variables.

Marketing managers want market segments to have each of the following characteristics EXCEPT

The qualifying dimensions help identify the "core benefits" that must be offered to everyone in a product-market.

Which of the following criteria should a marketing manager use when segmenting a broad product-market?

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Market Environment

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising and Sales Promotion

Publicity: Promotion Using Earned Media, Owned Media, and Social Media

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Filters

Exam 4: Focusing Marketing Strategy With Segmentation and Positioning

A market in which sellers offer various,often diverse,ways of satisfying needs is called a ________ market.

"Too much" aggregating in market segmenting

Why is it not always possible for marketing managers to keep their offerings unique?

A firm's "relevant market for finding opportunities" should be bigger than the present product-market but not so large that it couldn't expand and still be an important competitor.

The benefits of focusing on a specific target market (with the aid of marketing segmentation)do NOT include which of the following?

What purpose does a positioning statement serve?

Positioning analysis

The customer type component of the product-market should include

How can the current location of target customers help marketing managers?

Positioning is a marketing management aid that refers to

Market segmentation applies only to consumer goods and services; it cannot be applied to business products.

International marketing typically requires less segmenting than domestic markets.

A product-market is a market in which

A determining dimension for segmenting markets actually affects the purchase of a specific brand in a product-market.

The combined target market approach involves segmenting the market and choosing two or more segments,then treating each as a separate target market needing a different marketing mix.

A "good" market segment should be composed of people who are as homogeneous as possible with respect to their likely responses to marketing mix variables.

Marketing managers want market segments to have each of the following characteristics EXCEPT

The qualifying dimensions help identify the "core benefits" that must be offered to everyone in a product-market.

Which of the following criteria should a marketing manager use when segmenting a broad product-market?

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Market Environment

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising and Sales Promotion

Publicity: Promotion Using Earned Media, Owned Media, and Social Media

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Filters