Question 1

Combiners

Accepted Answer

A)  look at various submarkets for differences rather than similarities. 
B)  try to increase the size of their target markets by merging two or more segments. 
C)  aim at one or more market segments and offer each different marketing mixes. 
D)  have decided to sacrifice profits for sales volume. 
E)  aim at one submarket with a specialized marketing mix. 
A)  look at various submarkets for differences rather than similarities. 
B)  try to increase the size of their target markets by merging two or more segments. 
C)  aim at one or more market segments and offer each different marketing mixes. 
D)  have decided to sacrifice profits for sales volume. 
E)  aim at one submarket with a specialized marketing mix.

Question 2

Marketing-oriented managers see segmenting as a process of aggregating people with similar needs into a group.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is LEAST LIKELY to compete in the same generic market as the others?

Accepted Answer

A)  Ice cream. 
B)  Apple pie. 
C)  Fruit salad. 
D)  Chocolate chip cookie. 
E)  Pretzel. 
A)  Ice cream. 
B)  Apple pie. 
C)  Fruit salad. 
D)  Chocolate chip cookie. 
E)  Pretzel.

Question 4

A ______________ market is a market with broadly similar needs and sellers offering various-and often diverse-ways of satisfying those needs.

Accepted Answer

A)  homogeneous 
B)  product 
C)  relevant 
D)  generic 
E)  target 
A)  homogeneous 
B)  product 
C)  relevant 
D)  generic 
E)  target

Question 5

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 6

Target marketers create marketing mixes for:

Accepted Answer

A)  all customer needs. 
B)  some generic market. 
C)  multiple generic markets. 
D)  one broad product market. 
E)  homogeneous product-market segments. 
A)  all customer needs. 
B)  some generic market. 
C)  multiple generic markets. 
D)  one broad product market. 
E)  homogeneous product-market segments.

Question 7

A "market" consists of:

Accepted Answer

A)  customers who are willing to exchange something of value. 
B)  a group of potential customers with similar needs. 
C)  sellers offering various ways of satisfying customer needs. 
D)  all of these are correct. 
A)  customers who are willing to exchange something of value. 
B)  a group of potential customers with similar needs. 
C)  sellers offering various ways of satisfying customer needs. 
D)  all of these are correct.

Question 8

Clustering techniques applied to segmenting markets

Accepted Answer

A)  usually require computers to group people based on data from market research. 
B)  remove the need for managerial judgment. 
C)  eliminate the need for marketing managers to specify in advance what dimensions might be relevant for grouping consumers. 
D)  All of these alternatives about clustering techniques are true. 
A)  usually require computers to group people based on data from market research. 
B)  remove the need for managerial judgment. 
C)  eliminate the need for marketing managers to specify in advance what dimensions might be relevant for grouping consumers. 
D)  All of these alternatives about clustering techniques are true.

Question 9

Segmenting a broad product-market usually requires using several segmenting dimensions at the same time.

Accepted Answer

A) True 
 B)False

Question 10

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 is a good choice for Quality Ceramic. 
A)  combined target market approach. 
B)  single target market approach. 
C)  multiple target market approach. 
D)  mass marketing approach. 
E)  None of these is a good choice for Quality Ceramic.

Question 11

The process of marketing strategy planning is about:

Accepted Answer

A)  identifying as many market opportunities as can be imagined. 
B)  narrowing down possible market opportunities to the most attractive ones. 
C)  creating products that managers like. 
D)  choosing the most profitable market opportunity, regardless of the firm's current abilities and resources. 
E)  figuring out how to offer products at the lowest possible price. 
A)  identifying as many market opportunities as can be imagined. 
B)  narrowing down possible market opportunities to the most attractive ones. 
C)  creating products that managers like. 
D)  choosing the most profitable market opportunity, regardless of the firm's current abilities and resources. 
E)  figuring out how to offer products at the lowest possible price.

Question 12

A complete product-market definition includes a four-part description comprising all of the following except

Accepted Answer

A)  geographic area. 
B)  customer needs. 
C)  customer types. 
D)  product type. 
E)  marketing mix. 
A)  geographic area. 
B)  customer needs. 
C)  customer types. 
D)  product type. 
E)  marketing mix.

Question 13

Which of the following statements about positioning is FALSE? Positioning techniques:

Accepted Answer

A)  position products on a graph based on price level and quantity demanded. 
B)  require a firm to collect data about consumer perceptions of products. 
C)  are sometimes called "perceptual mapping" techniques. 
D)  typically rely on a "product space" diagram to show the relationship among various products. 
E)  may use information about consumers' "ideal" products, so that the preferences of different segments of consumers can be considered. 
A)  position products on a graph based on price level and quantity demanded. 
B)  require a firm to collect data about consumer perceptions of products. 
C)  are sometimes called "perceptual mapping" techniques. 
D)  typically rely on a "product space" diagram to show the relationship among various products. 
E)  may use information about consumers' "ideal" products, so that the preferences of different segments of consumers can be considered.

Question 14

When Procter and Gamble offers both Pantene and Vidal Sassoon shampoos to its customers, which target market approach is Procter and Gamble using?

Accepted Answer

A)  Multiple 
B)  Single 
C)  Combined 
D)  Generic 
E)  Clustering 
A)  Multiple 
B)  Single 
C)  Combined 
D)  Generic 
E)  Clustering

Question 15

Customer type

Accepted Answer

A)  should be defined by identifying the buyer instead of the user. 
B)  should be assigned a nickname that describes all potential types of customers. 
C)  must always consider intermediaries even if they are not final users. 
D)  refers to the final consumer or user of a product type. 
E)  none of these alternatives is correct. 
A)  should be defined by identifying the buyer instead of the user. 
B)  should be assigned a nickname that describes all potential types of customers. 
C)  must always consider intermediaries even if they are not final users. 
D)  refers to the final consumer or user of a product type. 
E)  none of these alternatives is correct.

Question 16

CRM approaches are based on information from detailed customer databases.

Accepted Answer

A) True 
 B)False

Question 17

James is a prospective car buyer. In his context, which of the following statements would reflect a determining dimension?

Accepted Answer

A)  He must have enough money, or credit, to buy a car and insure it. 
B)  He needs to have a valid driver's license. 
C)  He has kids who have to be carpooled. 
D)  He needs a safe car. 
E)  His office is 2.5 miles from home. 
A)  He must have enough money, or credit, to buy a car and insure it. 
B)  He needs to have a valid driver's license. 
C)  He has kids who have to be carpooled. 
D)  He needs a safe car. 
E)  His office is 2.5 miles from home.

Question 18

Which of the following would be a determining dimension for a customer who needs to buy a marketing textbook for school?

Accepted Answer

A)  Avid reader 
B)  Status as college student 
C)  Income level 
D)  Traveler 
E)  Age 
A)  Avid reader 
B)  Status as college student 
C)  Income level 
D)  Traveler 
E)  Age

Question 19

When deciding how far to carry the segmenting process,

Accepted Answer

A)  profit should be the balancing point-determining how unique a marketing mix the firm can offer to some target market. 
B)  it is easier to develop effective marketing mixes for larger, more heterogeneous segments. 
C)  cost considerations encourage less aggregating. 
D)  the threat of potential competitors suggests more aggregating. 
E)  All of these alternatives are true. 
A)  profit should be the balancing point-determining how unique a marketing mix the firm can offer to some target market. 
B)  it is easier to develop effective marketing mixes for larger, more heterogeneous segments. 
C)  cost considerations encourage less aggregating. 
D)  the threat of potential competitors suggests more aggregating. 
E)  All of these alternatives are true.

Question 20

"Good" market segments are those that are:

Accepted Answer

A)  homogeneous between. 
B)  heterogeneous within. 
C)  operational and substantial. 
D)  international in nature. 
E)  All of these choices are correct. 
A)  homogeneous between. 
B)  heterogeneous within. 
C)  operational and substantial. 
D)  international in nature. 
E)  All of these choices are correct.

Combiners

Marketing-oriented managers see segmenting as a process of aggregating people with similar needs into a group.

Which of the following is LEAST LIKELY to compete in the same generic market as the others?

A ______________ market is a market with broadly similar needs and sellers offering various-and often diverse-ways of satisfying those needs.

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.

Target marketers create marketing mixes for:

A "market" consists of:

Clustering techniques applied to segmenting markets

Segmenting a broad product-market usually requires using several segmenting dimensions at the same time.

The process of marketing strategy planning is about:

A complete product-market definition includes a four-part description comprising all of the following except

Which of the following statements about positioning is FALSE? Positioning techniques:

When Procter and Gamble offers both Pantene and Vidal Sassoon shampoos to its customers, which target market approach is Procter and Gamble using?

Customer type

CRM approaches are based on information from detailed customer databases.

James is a prospective car buyer. In his context, which of the following statements would reflect a determining dimension?

Which of the following would be a determining dimension for a customer who needs to buy a marketing textbook for school?

When deciding how far to carry the segmenting process,

"Good" market segments are those that are:

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

Promotion-Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

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

Filters

Exam 4: Focusing Marketing Strategy With Segmentation and Positioning

Combiners

Marketing-oriented managers see segmenting as a process of aggregating people with similar needs into a group.

Which of the following is LEAST LIKELY to compete in the same generic market as the others?

A ______________ market is a market with broadly similar needs and sellers offering various-and often diverse-ways of satisfying those needs.

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.

Target marketers create marketing mixes for:

A "market" consists of:

Clustering techniques applied to segmenting markets

Segmenting a broad product-market usually requires using several segmenting dimensions at the same time.

The process of marketing strategy planning is about:

A complete product-market definition includes a four-part description comprising all of the following except

Which of the following statements about positioning is FALSE? Positioning techniques:

When Procter and Gamble offers both Pantene and Vidal Sassoon shampoos to its customers, which target market approach is Procter and Gamble using?

Customer type

CRM approaches are based on information from detailed customer databases.

James is a prospective car buyer. In his context, which of the following statements would reflect a determining dimension?

Which of the following would be a determining dimension for a customer who needs to buy a marketing textbook for school?

When deciding how far to carry the segmenting process,

"Good" market segments are those that are:

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

Promotion-Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

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

Filters