Question 1

The process of market segmentation involves:

Accepted Answer

A)  identifying small target markets and expanding them into broad product markets. 
B)  identifying broad product markets and segmenting then into narrower target markets. 
C)  identifying target groups with the fewest potential customers. 
D)  selecting a marketing mix to reach everyone. 
E)  identifying target markets based on consumers' gender alone. 
A)  identifying small target markets and expanding them into broad product markets. 
B)  identifying broad product markets and segmenting then into narrower target markets. 
C)  identifying target groups with the fewest potential customers. 
D)  selecting a marketing mix to reach everyone. 
E)  identifying target markets based on consumers' gender alone.

Question 2

When segmenting markets, one should look at geographic location and demographic characteristics as well as customers' desire and willingness to compare and shop, but behavioral needs aren't important for this purpose.

Accepted Answer

A) True 
 B)False

Question 3

When a firm develops a marketing mix for teenage boys which is different from its marketing mix for teenage girls, which target market approach is it using?

Accepted Answer

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

Question 4

Target marketers who are "segmenters":

Accepted Answer

A)  increase the size of their target markets by combining two or more segments. 
B)  use one marketing mix to appeal to multiple submarkets, even though the submarkets have some distinct differences. 
C)  believe that one marketing mix works well enough with multiple submarkets, even though the target groups have some distinct differences. 
D)  use one single marketing mix to appeal to an individual market segment and do not attempt to combine or merge segments together. 
E)  are called mass marketers. 
A)  increase the size of their target markets by combining two or more segments. 
B)  use one marketing mix to appeal to multiple submarkets, even though the submarkets have some distinct differences. 
C)  believe that one marketing mix works well enough with multiple submarkets, even though the target groups have some distinct differences. 
D)  use one single marketing mix to appeal to an individual market segment and do not attempt to combine or merge segments together. 
E)  are called mass marketers.

Question 5

A firm is most likely to rely on customer relationship management (CRM) approaches when it does not have a database of information on individual customers.

Accepted Answer

A) True 
 B)False

Question 6

Benefits of focusing on a specific target market (with the aid of marketing segmentation) include all the following except:

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 7

A qualifying dimension for people who consider purchasing a pill for pain relief:

Accepted Answer

A)  the region of the country in which they live. 
B)  income level. 
C)  physiological need. 
D)  ethnicity. 
E)  occupation. 
A)  the region of the country in which they live. 
B)  income level. 
C)  physiological need. 
D)  ethnicity. 
E)  occupation.

Question 8

"Positioning":

Accepted Answer

A)  applies to new products-but not existing products. 
B)  helps strategy planners see how customers view competitors' offerings. 
C)  is concerned with obtaining the best shelf space in retail outlets. 
D)  is useful for combining but not for segmenting. 
E)  eliminates the need for judgment in strategy planning. 
A)  applies to new products-but not existing products. 
B)  helps strategy planners see how customers view competitors' offerings. 
C)  is concerned with obtaining the best shelf space in retail outlets. 
D)  is useful for combining but not for segmenting. 
E)  eliminates the need for judgment in strategy planning.

Question 9

Marketing managers for Mountain Dew used a positioning statement to help focus efforts and gain market share in a competitive environment.

Accepted Answer

A) True 
 B)False

Question 10

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 11

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

Accepted Answer

A) True 
 B)False

Question 12

Which of the following segmenting dimensions probably would be LEAST LIKELY to result in segments that would meet the criteria that product-market segments should be "operational?"

Accepted Answer

A)  Geographic region. 
B)  Personality. 
C)  Family size. 
D)  Age. 
E)  Income level. 
A)  Geographic region. 
B)  Personality. 
C)  Family size. 
D)  Age. 
E)  Income level.

Question 13

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

Accepted Answer

A)  The information storage market. 
B)  The recreation market. 
C)  The designer jeans market. 
D)  The home improvement market. 
E)  The entertainment market. 
A)  The information storage market. 
B)  The recreation market. 
C)  The designer jeans market. 
D)  The home improvement market. 
E)  The entertainment market.

Question 14

Which of the following is NOT one of the target marketing approaches for developing market-oriented strategies in a broad product-market?

Accepted Answer

A)  Multiple. 
B)  Single. 
C)  Exclusive. 
D)  Combined. 
E)  All of these are target marketing approaches. 
A)  Multiple. 
B)  Single. 
C)  Exclusive. 
D)  Combined. 
E)  All of these are target marketing approaches.

Question 15

Segmenting, in contrast to combining:

Accepted Answer

A)  tends to focus more on customer similarities than on differences. 
B)  tries to identify homogeneous submarkets and develop different marketing mixes for each submarket. 
C)  usually means settling for a smaller sales potential. 
D)  relies more on promotion appeals and minor product differences to create general customer appeal among several submarkets. 
E)  All of these are true statements except usually means settling for a smaller sales potential. 
A)  tends to focus more on customer similarities than on differences. 
B)  tries to identify homogeneous submarkets and develop different marketing mixes for each submarket. 
C)  usually means settling for a smaller sales potential. 
D)  relies more on promotion appeals and minor product differences to create general customer appeal among several submarkets. 
E)  All of these are true statements except usually means settling for a smaller sales potential.

Question 16

One of the difficult things about segmenting is that not every customer will neatly fit into some market segment.

Accepted Answer

A) True 
 B)False

Question 17

A market is a group of competitors selling similar products.

Accepted Answer

A) True 
 B)False

Question 18

A positioning analysis is a product-oriented approach.

Accepted Answer

A) True 
 B)False

Question 19

A "generic market" is a market in which sellers offer substitute products which are so similar that customers see them as "all the same."

Accepted Answer

A) True 
 B)False

Question 20

Customer relationship management (CRM) helps consumer marketers:

Accepted Answer

A)  limit their personalization efforts. 
B)  treat all submarkets as a single huge market. 
C)  reduce their focus on local customers. 
D)  deliver different marketing mix to different customer segments. 
E)  ignore the differences in the needs and preferences of target customers. 
A)  limit their personalization efforts. 
B)  treat all submarkets as a single huge market. 
C)  reduce their focus on local customers. 
D)  deliver different marketing mix to different customer segments. 
E)  ignore the differences in the needs and preferences of target customers.

The process of market segmentation involves:

When segmenting markets, one should look at geographic location and demographic characteristics as well as customers' desire and willingness to compare and shop, but behavioral needs aren't important for this purpose.

When a firm develops a marketing mix for teenage boys which is different from its marketing mix for teenage girls, which target market approach is it using?

Target marketers who are "segmenters":

A firm is most likely to rely on customer relationship management (CRM) approaches when it does not have a database of information on individual customers.

Benefits of focusing on a specific target market (with the aid of marketing segmentation) include all the following except:

A qualifying dimension for people who consider purchasing a pill for pain relief:

"Positioning":

Marketing managers for Mountain Dew used a positioning statement to help focus efforts and gain market share in a competitive environment.

Positioning analysis

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

Which of the following segmenting dimensions probably would be LEAST LIKELY to result in segments that would meet the criteria that product-market segments should be "operational?"

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

Which of the following is NOT one of the target marketing approaches for developing market-oriented strategies in a broad product-market?

Segmenting, in contrast to combining:

One of the difficult things about segmenting is that not every customer will neatly fit into some market segment.

A market is a group of competitors selling similar products.

A positioning analysis is a product-oriented approach.

A "generic market" is a market in which sellers offer substitute products which are so similar that customers see them as "all the same."

Customer relationship management (CRM) helps consumer marketers:

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

The process of market segmentation involves:

When segmenting markets, one should look at geographic location and demographic characteristics as well as customers' desire and willingness to compare and shop, but behavioral needs aren't important for this purpose.

When a firm develops a marketing mix for teenage boys which is different from its marketing mix for teenage girls, which target market approach is it using?

Target marketers who are "segmenters":

A firm is most likely to rely on customer relationship management (CRM) approaches when it does not have a database of information on individual customers.

Benefits of focusing on a specific target market (with the aid of marketing segmentation) include all the following except:

A qualifying dimension for people who consider purchasing a pill for pain relief:

"Positioning":

Marketing managers for Mountain Dew used a positioning statement to help focus efforts and gain market share in a competitive environment.

Positioning analysis

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

Which of the following segmenting dimensions probably would be LEAST LIKELY to result in segments that would meet the criteria that product-market segments should be "operational?"

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

Which of the following is NOT one of the target marketing approaches for developing market-oriented strategies in a broad product-market?

Segmenting, in contrast to combining:

One of the difficult things about segmenting is that not every customer will neatly fit into some market segment.

A market is a group of competitors selling similar products.

A positioning analysis is a product-oriented approach.

A "generic market" is a market in which sellers offer substitute products which are so similar that customers see them as "all the same."

Customer relationship management (CRM) helps consumer marketers:

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