Question 1

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

Accepted Answer

A)  Long-stem roses 
B)  A tomato 
C)  Champagne 
D)  A greeting card 
E)  A telegram 
A)  Long-stem roses 
B)  A tomato 
C)  Champagne 
D)  A greeting card 
E)  A telegram

Question 2

CRM is a variation of the positioning approach.

Accepted Answer

A) True 
 B)False

Question 3

A product-market is one

Accepted Answer

A)  in which exchanges are based on barter rather than money. 
B)  where one seller has a patent for a superior product and other firms try to imitate the leader the best they can. 
C)  where all of the customers want the same product but will consider a substitute if their preferred brand is not available. 
D)  in which competing sellers offer physically or conceptually similar products. 
E)  in which no intermediaries operate. 
A)  in which exchanges are based on barter rather than money. 
B)  where one seller has a patent for a superior product and other firms try to imitate the leader the best they can. 
C)  where all of the customers want the same product but will consider a substitute if their preferred brand is not available. 
D)  in which competing sellers offer physically or conceptually similar products. 
E)  in which no intermediaries operate.

Question 4

When doing "positioning," a marketing manager should:

Accepted Answer

A)  avoid targeting strategies. 
B)  focus on specific product features of all generic competitors. 
C)  rely on how customers think about proposed and/or existing brands in a market. 
D)  plan physical product changes rather than image changes. 
E)  None of these is a good choice. 
A)  avoid targeting strategies. 
B)  focus on specific product features of all generic competitors. 
C)  rely on how customers think about proposed and/or existing brands in a market. 
D)  plan physical product changes rather than image changes. 
E)  None of these is a good choice.

Question 5

Market segmentation:

Accepted Answer

A)  means the same thing as marketing strategy planning. 
B)  assumes that most submarkets can be satisfied by the same marketing mix. 
C)  is the same thing as positioning. 
D)  tries to identify homogeneous submarkets within a product-market. 
E)  None of these choices regarding market segmentation is true. 
A)  means the same thing as marketing strategy planning. 
B)  assumes that most submarkets can be satisfied by the same marketing mix. 
C)  is the same thing as positioning. 
D)  tries to identify homogeneous submarkets within a product-market. 
E)  None of these choices regarding market segmentation is true.

Question 6

According to the text, segmenting:

Accepted Answer

A)  is a disaggregating or "breaking down" process. 
B)  assumes that each person should be treated as a separate target market. 
C)  assumes that all customers can be clustered into profitable market segments. 
D)  is an aggregating process. 
E)  uses scientific rules to decide how many submarkets exist. 
A)  is a disaggregating or "breaking down" process. 
B)  assumes that each person should be treated as a separate target market. 
C)  assumes that all customers can be clustered into profitable market segments. 
D)  is an aggregating process. 
E)  uses scientific rules to decide how many submarkets exist.

Question 7

Which of the following is the BEST example of a "generic market?"

Accepted Answer

A)  The senior citizen recreation market 
B)  The designer shoes market 
C)  The frozen yogurt market 
D)  The transportation market 
E)  The Hispanic-American market 
A)  The senior citizen recreation market 
B)  The designer shoes market 
C)  The frozen yogurt market 
D)  The transportation market 
E)  The Hispanic-American market

Question 8

Which of the following statements about market-oriented strategy planning is Answer: True?

Accepted Answer

A)  	Segmenters aim at more heterogeneous markets than combiners. 
B)  	Both "segmenters" and "combiners" can be target marketers. 
C)  	All segmenters follow the single target market approach. 
D)  	Combiners follow a mass marketing strategy. 
E)  	None of these statements is Answer: True. 
A)  	Segmenters aim at more heterogeneous markets than combiners. 
B)  	Both "segmenters" and "combiners" can be target marketers. 
C)  	All segmenters follow the single target market approach. 
D)  	Combiners follow a mass marketing strategy. 
E)  	None of these statements is Answer: True.

Question 9

Which of the following statements about market segmentation is NOT

Accepted Answer

A)  	It starts by segmenting broad product-markets. 
B)  	It involves naming broad product-markets. 
C)  	A market grid with submarkets can be a visual aid to market segmentation. 
D)  	It segments broad product-markets in order to develop suitable marketing mixes. 
E)  	First-time market segmentation efforts often fail. 
A)  	It starts by segmenting broad product-markets. 
B)  	It involves naming broad product-markets. 
C)  	A market grid with submarkets can be a visual aid to market segmentation. 
D)  	It segments broad product-markets in order to develop suitable marketing mixes. 
E)  	First-time market segmentation efforts often fail.

Question 10

Deciding whether a group of customers should be included in a target market is the purpose of _____ dimensions.

Accepted Answer

A)  behavioral 
B)  demographic 
C)  determining 
D)  qualifying 
E)  geographic 
A)  behavioral 
B)  demographic 
C)  determining 
D)  qualifying 
E)  geographic

Question 11

Regarding segmenting, as opposed to combining:

Accepted Answer

A)  Segmenting is usually a riskier approach than combining. 
B)  Segmenters try to satisfy consumers "very well" instead of "pretty well." 
C)  Segmenting limits a firm to smaller sales potential and lower profits. 
D)  A segmenter with limited resources may have to use the multiple target market approach instead of the single target market approach. 
E)  All of these alternatives are true. 
A)  Segmenting is usually a riskier approach than combining. 
B)  Segmenters try to satisfy consumers "very well" instead of "pretty well." 
C)  Segmenting limits a firm to smaller sales potential and lower profits. 
D)  A segmenter with limited resources may have to use the multiple target market approach instead of the single target market approach. 
E)  All of these alternatives are true.

Question 12

When a company becomes aware that a new product is being test marketed by one of its competitors in St. Louis, it decides to create a similar product and rush it to market. This company can be described as a(n):

Accepted Answer

A)  copycat. 
B)  innovator. 
C)  me-too imitator. 
D)  first mover. 
A)  copycat. 
B)  innovator. 
C)  me-too imitator. 
D)  first mover.

Question 13

A ____ is a group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services.

Accepted Answer

A)  segment 
B)  market 
C)  product 
D)  consumer forum 
E)  generic industry 
A)  segment 
B)  market 
C)  product 
D)  consumer forum 
E)  generic industry

Question 14

Differentiating the marketing mix is important because:

Accepted Answer

A)  It can help the firm build a competitive advantage with a group of target customers. 
B)  It can help target customers to view the firm's position in the market as uniquely suited to their preferences and needs. 
C)  It can clarify the position the firm wants to achieve with customers. 
D)  It can contribute to better blending of marketing mix decisions to achieve desired objectives. 
E)  All of these alternatives are true. 
A)  It can help the firm build a competitive advantage with a group of target customers. 
B)  It can help target customers to view the firm's position in the market as uniquely suited to their preferences and needs. 
C)  It can clarify the position the firm wants to achieve with customers. 
D)  It can contribute to better blending of marketing mix decisions to achieve desired objectives. 
E)  All of these alternatives are true.

Question 15

BEHAVIORAL (rather than DEMOGRAPHIC) segmenting dimensions include:

Accepted Answer

A)  type of problem-solving. 
B)  kind of shopping. 
C)  brand familiarity. 
D)  benefits sought. 
E)  All of these are behavioral dimensions. 
A)  type of problem-solving. 
B)  kind of shopping. 
C)  brand familiarity. 
D)  benefits sought. 
E)  All of these are behavioral dimensions.

Question 16

Given its interest in the broad product-market for "ready-to-eat, health-conscious snack foods," which of the following should the GoodHealth Foods Co. do FIRST?

Accepted Answer

A)  Develop a plan for getting support from intermediaries. 
B)  Develop each of the four Ps at the same time. 
C)  Segment the product-market to try to identify homogeneous submarkets and select an attractive target market. 
D)  Determine whether to compete on a price basis. 
E)  Decide what low-fat product or products it will offer. 
A)  Develop a plan for getting support from intermediaries. 
B)  Develop each of the four Ps at the same time. 
C)  Segment the product-market to try to identify homogeneous submarkets and select an attractive target market. 
D)  Determine whether to compete on a price basis. 
E)  Decide what low-fat product or products it will offer.

Question 17

The more heterogeneous a firm's target market becomes, the more likely the firm will see competition from an innovative segmenter.

Accepted Answer

A) True 
 B)False

Question 18

A producer of electrical components combined electrical supply wholesalers and manufacturers of electrical equipment into the same market segment-one of several segments it was targeting. Soon it lost the manufacturers' business to a competitor. It seems that the firm failed to consider the risk of

Accepted Answer

A)  too much aggregating. 
B)  insulting the manufacturers by putting them in the same market segment with the wholesalers. 
C)  picking market segments based on qualifying dimensions. 
D)  selecting market segments that were not substantial. 
E)  using too many segmenting dimensions. 
A)  too much aggregating. 
B)  insulting the manufacturers by putting them in the same market segment with the wholesalers. 
C)  picking market segments based on qualifying dimensions. 
D)  selecting market segments that were not substantial. 
E)  using too many segmenting dimensions.

Question 19

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 20

Target market dimensions should influence all the following strategy decisions except:

Accepted Answer

A)  what product features and assortments will be offered. 
B)  what prices should be set. 
C)  where products will be available for purchase. 
D)  which types of advertising and promotion to be utilized. 
E)  which industry a firm should choose. 
A)  what product features and assortments will be offered. 
B)  what prices should be set. 
C)  where products will be available for purchase. 
D)  which types of advertising and promotion to be utilized. 
E)  which industry a firm should choose.

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

CRM is a variation of the positioning approach.

A product-market is one

When doing "positioning," a marketing manager should:

Market segmentation:

According to the text, segmenting:

Which of the following is the BEST example of a "generic market?"

Which of the following statements about market-oriented strategy planning is Answer: True?

Which of the following statements about market segmentation is NOT

Deciding whether a group of customers should be included in a target market is the purpose of _____ dimensions.

Regarding segmenting, as opposed to combining:

When a company becomes aware that a new product is being test marketed by one of its competitors in St. Louis, it decides to create a similar product and rush it to market. This company can be described as a(n):

A ____ is a group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services.

Differentiating the marketing mix is important because:

BEHAVIORAL (rather than DEMOGRAPHIC) segmenting dimensions include:

Given its interest in the broad product-market for "ready-to-eat, health-conscious snack foods," which of the following should the GoodHealth Foods Co. do FIRST?

The more heterogeneous a firm's target market becomes, the more likely the firm will see competition from an innovative segmenter.

A producer of electrical components combined electrical supply wholesalers and manufacturers of electrical equipment into the same market segment-one of several segments it was targeting. Soon it lost the manufacturers' business to a competitor. It seems that the firm failed to consider the risk of

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

Target market dimensions should influence all the following strategy decisions except:

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

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

CRM is a variation of the positioning approach.

A product-market is one

When doing "positioning," a marketing manager should:

Market segmentation:

According to the text, segmenting:

Which of the following is the BEST example of a "generic market?"

Which of the following statements about market-oriented strategy planning is Answer: True?

Which of the following statements about market segmentation is NOT

Deciding whether a group of customers should be included in a target market is the purpose of _____ dimensions.

Regarding segmenting, as opposed to combining:

When a company becomes aware that a new product is being test marketed by one of its competitors in St. Louis, it decides to create a similar product and rush it to market. This company can be described as a(n):

A ____ is a group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services.

Differentiating the marketing mix is important because:

BEHAVIORAL (rather than DEMOGRAPHIC) segmenting dimensions include:

Given its interest in the broad product-market for "ready-to-eat, health-conscious snack foods," which of the following should the GoodHealth Foods Co. do FIRST?

The more heterogeneous a firm's target market becomes, the more likely the firm will see competition from an innovative segmenter.

A producer of electrical components combined electrical supply wholesalers and manufacturers of electrical equipment into the same market segment-one of several segments it was targeting. Soon it lost the manufacturers' business to a competitor. It seems that the firm failed to consider the risk of

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

Target market dimensions should influence all the following strategy decisions except:

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