Question 1

Which of the following changes is seen as a result of a rise in households with only one person?

Accepted Answer

A)  Increase in apartment building developments 
B)  Decrease in the average size of new cars 
C)  Decrease in the marketing of vacations 
D)  Increase in single-serve food products 
A)  Increase in apartment building developments 
B)  Decrease in the average size of new cars 
C)  Decrease in the marketing of vacations 
D)  Increase in single-serve food products

Question 2

A product that is purchased for use in the production of other goods and services for resale is called a(n)_____.

Accepted Answer

A) target market 
B) market segmentation 
C) cohort effect 
D) primary metropolitan statistical area 
E) differentiated marketing
F)concentrated marketing
G)micromarketing
H)positioning map
I)VALS
J)AIO statement
K)core region
L)consumer product
M)demographic segmentation
N)Praedo's law
O)psychographic segmentation
P)geographic information systems
Q)positioning
R)geographic segmentation
S)business product
T)mass marketing 
A) target market 
B) market segmentation 
C) cohort effect 
D) primary metropolitan statistical area 
E) differentiated marketing
F)concentrated marketing
G)micromarketing
H)positioning map
I)VALS
J)AIO statement
K)core region
L)consumer product
M)demographic segmentation
N)Praedo's law
O)psychographic segmentation
P)geographic information systems
Q)positioning
R)geographic segmentation
S)business product
T)mass marketing

Question 3

As per the studies conducted by Roper,the segment of customers who value professional and material goals more than other groups is called:

Accepted Answer

A)  strivers. 
B)  devouts. 
C)  altruists. 
D)  fun seekers. 
A)  strivers. 
B)  devouts. 
C)  altruists. 
D)  fun seekers.

Question 4

Typically,a single marketing mix strategy attracts all sectors of a market.

Accepted Answer

A) True 
 B)False

Question 5

The tagline used by Walmart,"Save money.Live better" is an example of a positioning strategy that is based on _____.

Accepted Answer

A)  quality 
B)  attributes 
C)  product users 
D)  competitors 
A)  quality 
B)  attributes 
C)  product users 
D)  competitors

Question 6

Oscar Mayer,a marketer of a variety of meat products introduced Lunchables,a product specifically aimed at children.This is an example of:

Accepted Answer

A)  undifferentiated marketing. 
B)  differentiated marketing. 
C)  mass marketing. 
D)  micromarketing. 
A)  undifferentiated marketing. 
B)  differentiated marketing. 
C)  mass marketing. 
D)  micromarketing.

Question 7

Products bought by ultimate customers for personal use are known as consumer products.

Accepted Answer

A) True 
 B)False

Question 8

The 80/20 principle states that:

Accepted Answer

A)  market segmentation succeeds 80 percent of the time and fails the remaining 20 percent of the time. 
B)  roughly 80 percent of total product sales come from 20 percent of customers. 
C)  nearly 80 percent of the market segment is generally tapped within first 10 years of the introduction of the product, and 20 percent remains unreached. 
D)  80 percent of the market can be segmented, and 20 percent cannot. 
A)  market segmentation succeeds 80 percent of the time and fails the remaining 20 percent of the time. 
B)  roughly 80 percent of total product sales come from 20 percent of customers. 
C)  nearly 80 percent of the market segment is generally tapped within first 10 years of the introduction of the product, and 20 percent remains unreached. 
D)  80 percent of the market can be segmented, and 20 percent cannot.

Question 9

Engel observed that the percentage of income spent on household operations and clothing remains constant even when the household income increases.

Accepted Answer

A) True 
 B)False

Question 10

The product-related segmentation of consumers based on the strength of their attachment and allegiance to their preferred products is called _____ segmentation.

Accepted Answer

A)  values and lifestyles 
B)  business-to-business 
C)  psychographic 
D)  brand loyalty 
A)  values and lifestyles 
B)  business-to-business 
C)  psychographic 
D)  brand loyalty

Question 11

An undifferentiated marketing strategy is more suited for a firm that markets generic products rather than individual brand names.

Accepted Answer

A) True 
 B)False

Question 12

Psychographic segmentation divides a population into groups based on:

Accepted Answer

A)  their use of the product. 
B)  their income and expenditure patterns. 
C)  their geographic location. 
D)  their attitudes, values and lifestyles. 
A)  their use of the product. 
B)  their income and expenditure patterns. 
C)  their geographic location. 
D)  their attitudes, values and lifestyles.

Question 13

The number and size of the market segments chosen by a firm must match its marketing capabilities.

Accepted Answer

A) True 
 B)False

Question 14

Very few residents of a micropolitan statistical area commute outside the area.

Accepted Answer

A) True 
 B)False

Question 15

The Asian American population is more geographically distributed than either Hispanics or African Americans.

Accepted Answer

A) True 
 B)False

Question 16

Asian Americans are an attractive target to marketers as they have the fastest rising income.

Accepted Answer

A) True 
 B)False

Question 17

Define market segmentation.Discuss its role in developing an effective marketing strategy.

Accepted Answer

Market segmentation is the division of t

Question 18

Which of the following is a psychographic category created by the VALS system that categorizes consumers by characteristics that correlate with purchase behavior?

Accepted Answer

A)  Altruists 
B)  Achievers 
C)  Intimates 
D)  Devouts 
A)  Altruists 
B)  Achievers 
C)  Intimates 
D)  Devouts

Question 19

Describe the six psychographic consumer segments identified by Roper.

Accepted Answer

The six psychographic consumer segments

Question 20

The tendency of members of a generation with common characteristics to be influenced and bound together by significant events occurring during their key formative years is called the _____.

Accepted Answer

A) target market 
B) market segmentation 
C) cohort effect 
D) primary metropolitan statistical area 
E) differentiated marketing
F)concentrated marketing
G)micromarketing
H)positioning map
I)VALS
J)AIO statement
K)core region
L)consumer product
M)demographic segmentation
N)Praedo's law
O)psychographic segmentation
P)geographic information systems
Q)positioning
R)geographic segmentation
S)business product
T)mass marketing 
A) target market 
B) market segmentation 
C) cohort effect 
D) primary metropolitan statistical area 
E) differentiated marketing
F)concentrated marketing
G)micromarketing
H)positioning map
I)VALS
J)AIO statement
K)core region
L)consumer product
M)demographic segmentation
N)Praedo's law
O)psychographic segmentation
P)geographic information systems
Q)positioning
R)geographic segmentation
S)business product
T)mass marketing

Exam 9: Market Segmentation, Targeting, and Positioning

Which of the following changes is seen as a result of a rise in households with only one person?

A product that is purchased for use in the production of other goods and services for resale is called a(n)_____.

As per the studies conducted by Roper,the segment of customers who value professional and material goals more than other groups is called:

Typically,a single marketing mix strategy attracts all sectors of a market.

The tagline used by Walmart,"Save money.Live better" is an example of a positioning strategy that is based on _____.

Oscar Mayer,a marketer of a variety of meat products introduced Lunchables,a product specifically aimed at children.This is an example of:

Products bought by ultimate customers for personal use are known as consumer products.

The 80/20 principle states that:

Engel observed that the percentage of income spent on household operations and clothing remains constant even when the household income increases.

The product-related segmentation of consumers based on the strength of their attachment and allegiance to their preferred products is called _____ segmentation.

An undifferentiated marketing strategy is more suited for a firm that markets generic products rather than individual brand names.

Psychographic segmentation divides a population into groups based on:

The number and size of the market segments chosen by a firm must match its marketing capabilities.

Very few residents of a micropolitan statistical area commute outside the area.

The Asian American population is more geographically distributed than either Hispanics or African Americans.

Asian Americans are an attractive target to marketers as they have the fastest rising income.

Define market segmentation.Discuss its role in developing an effective marketing strategy.

Which of the following is a psychographic category created by the VALS system that categorizes consumers by characteristics that correlate with purchase behavior?

Describe the six psychographic consumer segments identified by Roper.

The tendency of members of a generation with common characteristics to be influenced and bound together by significant events occurring during their key formative years is called the _____.

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