Question 1

Concentrated marketing strategy ties a firm's growth to a specific market segment.

Accepted Answer

A) True 
 B)False

Question 2

During the process of market segmentation,finalizing the marketing strategy and tactics helps firms to determine the costs of marketing and the expected level of resources it must commit.

Accepted Answer

A) True 
 B)False

Question 3

Baby Boomers are decreasing in popularity as a market segment due to their declining disposable income.

Accepted Answer

A) True 
 B)False

Question 4

A geographic area that generates 40 percent to 80 percent of a company's sales 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 5

While researching on the idea of opening his own health club,Tom learned that there are 11 million health club members in the United States,and 90 percent of them are between the ages of 18 and 49.They prefer to exercise with people of their own sex and majority of them are urban dwellers.During the process of market segmentation,this information is most likely to be used by Tom for:

Accepted Answer

A)  observational analysis. 
B)  marketing research. 
C)  forecasting total market potential. 
D)  developing a market segment profile. 
A)  observational analysis. 
B)  marketing research. 
C)  forecasting total market potential. 
D)  developing a market segment profile.

Question 6

Once the total market potential has been estimated by a firm,the next step in the market segmentation process is to forecast the probable market share.

Accepted Answer

A) True 
 B)False

Question 7

Goods and services purchased by the ultimate consumer for personal use are called _____ products.

Accepted Answer

A)  business 
B)  primary 
C)  consumer 
D)  secondary 
A)  business 
B)  primary 
C)  consumer 
D)  secondary

Question 8

The latest ad of Crest toothpaste says "Crest is a cavity fighter." This is an example of a positioning strategy based on:

Accepted Answer

A)  product price/quality. 
B)  product homogeneity. 
C)  product application. 
D)  product users. 
A)  product price/quality. 
B)  product homogeneity. 
C)  product application. 
D)  product users.

Question 9

Micromarketing may cause a company to lose sight of other,larger markets.

Accepted Answer

A) True 
 B)False

Question 10

Consolidated metropolitan statistical areas (CMSA)are limited to the same state,making it difficult for marketers to tap into similar product-use patterns among populations in neighboring states.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

Which of the following segmentation approaches is most likely to help marketers quantify aspects of consumers' personalities and lifestyles to create goods and services for a target market?

Accepted Answer

A)  Psychographic segmentation 
B)  Demographic segmentation 
C)  Geographic segmentation 
D)  Product-based segmentation 
A)  Psychographic segmentation 
B)  Demographic segmentation 
C)  Geographic segmentation 
D)  Product-based segmentation

Question 13

The tagline used by Blue Jet cleaners,"Pay for Performance." is an example of a positioning strategy that is based on _____.

Accepted Answer

A)  product homogeneity 
B)  product users 
C)  price/quality 
D)  competitors 
A)  product homogeneity 
B)  product users 
C)  price/quality 
D)  competitors

Question 14

Targeting a large number of small markets can produce an expensive,complex,and inefficient marketing strategy.

Accepted Answer

A) True 
 B)False

Question 15

The target market for a product is the specific segment of consumers most likely to purchase that particular product.

Accepted Answer

A) True 
 B)False

Question 16

The determination of whether pencils are consumer products or business products is based on:

Accepted Answer

A)  the purpose for which the pencils are purchased. 
B)  the number of pencils purchased. 
C)  the place where the pencils are purchased. 
D)  the total price paid for the pencils. 
A)  the purpose for which the pencils are purchased. 
B)  the number of pencils purchased. 
C)  the place where the pencils are purchased. 
D)  the total price paid for the pencils.

Question 17

A(n)_____ is an urbanized county or set of counties with social and economic ties to nearby areas.

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 18

In the context of the VALS framework,"devouts" are consumers who emphasize on social issues and societal well-being.

Accepted Answer

A) True 
 B)False

Question 19

List out the different positioning approaches followed by marketers.Give an example for each.

Accepted Answer

To achieve the goal of positioning,marke

Question 20

A firm that promotes numerous products with several marketing mixes designed to satisfy smaller target segments is said to practice _____.

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

Concentrated marketing strategy ties a firm's growth to a specific market segment.

During the process of market segmentation,finalizing the marketing strategy and tactics helps firms to determine the costs of marketing and the expected level of resources it must commit.

Baby Boomers are decreasing in popularity as a market segment due to their declining disposable income.

A geographic area that generates 40 percent to 80 percent of a company's sales is called a(n)_____.

Once the total market potential has been estimated by a firm,the next step in the market segmentation process is to forecast the probable market share.

Goods and services purchased by the ultimate consumer for personal use are called _____ products.

The latest ad of Crest toothpaste says "Crest is a cavity fighter." This is an example of a positioning strategy based on:

Micromarketing may cause a company to lose sight of other,larger markets.

Consolidated metropolitan statistical areas (CMSA)are limited to the same state,making it difficult for marketers to tap into similar product-use patterns among populations in neighboring states.

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

Which of the following segmentation approaches is most likely to help marketers quantify aspects of consumers' personalities and lifestyles to create goods and services for a target market?

The tagline used by Blue Jet cleaners,"Pay for Performance." is an example of a positioning strategy that is based on _____.

Targeting a large number of small markets can produce an expensive,complex,and inefficient marketing strategy.

The target market for a product is the specific segment of consumers most likely to purchase that particular product.

The determination of whether pencils are consumer products or business products is based on:

A(n)_____ is an urbanized county or set of counties with social and economic ties to nearby areas.

In the context of the VALS framework,"devouts" are consumers who emphasize on social issues and societal well-being.

List out the different positioning approaches followed by marketers.Give an example for each.

A firm that promotes numerous products with several marketing mixes designed to satisfy smaller target segments is said to practice _____.

Marketing: The Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-to-Business (B2B)Marketing

Global Marketing

Marketing Research and Sales Forecasting

Relationship Marketing and Customer Relationship Management (CRM)

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Your Career in Marketing

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters