Question 1

In a generic market

Accepted Answer

A)  sellers offer various, often diverse, ways of satisfying broadly similar needs. 
B)  consumers are offered various close substitute ways of satisfying needs. 
C)  everything is the same as in a product-market. 
D)  customers have very diverse needs. 
E)  sellers produce unbranded products. 
A)  sellers offer various, often diverse, ways of satisfying broadly similar needs. 
B)  consumers are offered various close substitute ways of satisfying needs. 
C)  everything is the same as in a product-market. 
D)  customers have very diverse needs. 
E)  sellers produce unbranded products.

Question 2

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

Accepted Answer

A)  The adult "personal expression" market 
B)  The roller blade market 
C)  The female exercise shoes market 
D)  The sports drink market 
E)  The sporting goods market 
A)  The adult "personal expression" market 
B)  The roller blade market 
C)  The female exercise shoes market 
D)  The sports drink market 
E)  The sporting goods market

Question 3

A digital camera, a computer video-cam, and a computer scanner might compete in the same

Accepted Answer

A)  single target market. 
B)  generic market. 
C)  multiple target market. 
D)  combined target market. 
E)  product-market. 
A)  single target market. 
B)  generic market. 
C)  multiple target market. 
D)  combined target market. 
E)  product-market.

Question 4

A _____ is a relatively homogeneous group of customers who will respond to a marketing mix in a similar way.

Accepted Answer

A)  market segment 
B)  market grid 
C)  consumer network 
D)  market network 
E)  generic market 
A)  market segment 
B)  market grid 
C)  consumer network 
D)  market network 
E)  generic market

Question 5

A transistor radio, an MP3 player, and a portable CD player might compete in the same

Accepted Answer

A)  single target market. 
B)  multiple target market. 
C)  product-market. 
D)  combined target market. 
E)  generic market. 
A)  single target market. 
B)  multiple target market. 
C)  product-market. 
D)  combined target market. 
E)  generic market.

Question 6

The MOST USEFUL dimensions for segmenting markets are:

Accepted Answer

A)  geographic and demographic dimensions. 
B)  brand familiarity and consumption patterns. 
C)  social class. 
D)  benefits sought. 
E)  it depends on what product-market one is segmenting. 
A)  geographic and demographic dimensions. 
B)  brand familiarity and consumption patterns. 
C)  social class. 
D)  benefits sought. 
E)  it depends on what product-market one is segmenting.

Question 7

The disaggregating step in market segmentation involves

Accepted Answer

A)  brainstorming about very different solutions to various generic needs. 
B)  looking for similarities in needs. 
C)  selecting target markets. 
D)  developing suitable marketing mixes. 
E)  selecting a target marketing approach. 
A)  brainstorming about very different solutions to various generic needs. 
B)  looking for similarities in needs. 
C)  selecting target markets. 
D)  developing suitable marketing mixes. 
E)  selecting a target marketing approach.

Question 8

According to the text, segmenting should be viewed as a(n) ______________ process.

Accepted Answer

A)  assorting 
B)  mechanical, nonjudgmental 
C)  "clustering" or aggregating 
D)  "breaking apart" or disaggregating 
E)  combining 
A)  assorting 
B)  mechanical, nonjudgmental 
C)  "clustering" or aggregating 
D)  "breaking apart" or disaggregating 
E)  combining

Question 9

The marketing management team for Dada Motors brainstormed a variety of solutions to the problem of how to transport people in the world. This process came during the ____ step in the market segmentation process.

Accepted Answer

A)  disaggregating 
B)  market definition 
C)  segmenting 
D)  aggregating 
E)  approach selection 
A)  disaggregating 
B)  market definition 
C)  segmenting 
D)  aggregating 
E)  approach selection

Question 10

A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.

Accepted Answer

A)  generic market 
B)  standard market 
C)  target market 
D)  global market 
E)  product-market 
A)  generic market 
B)  standard market 
C)  target market 
D)  global market 
E)  product-market

Question 11

Unlike a generic market description, a product-market definition includes

Accepted Answer

A)  customer needs. 
B)  customer types. 
C)  geographic area. 
D)  product type. 
E)  organization chart. 
A)  customer needs. 
B)  customer types. 
C)  geographic area. 
D)  product type. 
E)  organization chart.

Question 12

Which of the following offers a firm the greatest potential for profit?

Accepted Answer

A)  Mass marketing 
B)  The multiple target market approach 
C)  The combined target market approach 
D)  The single target market approach 
E)  Any of these-depending on the situation 
A)  Mass marketing 
B)  The multiple target market approach 
C)  The combined target market approach 
D)  The single target market approach 
E)  Any of these-depending on the situation

Question 13

Customer relationship management (CRM) data is generally used by firms to:

Accepted Answer

A)  reduce their focus on local customers. 
B)  treat all submarkets as a single huge market. 
C)  develop a prediction score for each customer. 
D)  limit the need for customization. 
E)  deliver the same marketing mix to all customer segments. 
A)  reduce their focus on local customers. 
B)  treat all submarkets as a single huge market. 
C)  develop a prediction score for each customer. 
D)  limit the need for customization. 
E)  deliver the same marketing mix to all customer segments.

Question 14

Which of the following criteria should a marketing manager use when segmenting a broad product-market?

Accepted Answer

A)  The segments should be operational-i.e., only quantitative dimensions are useful. 
B)  The people in different segments should be as heterogeneous as possible with respect to their likely response to marketing mix variables. 
C)  The people within a market segment should be as heterogeneous as possible with respect to their likely response to marketing mix variables. 
D)  The market segments should be substantial-i.e., big enough to minimize the firm's costs. 
E)  All of these criteria would be useful. 
A)  The segments should be operational-i.e., only quantitative dimensions are useful. 
B)  The people in different segments should be as heterogeneous as possible with respect to their likely response to marketing mix variables. 
C)  The people within a market segment should be as heterogeneous as possible with respect to their likely response to marketing mix variables. 
D)  The market segments should be substantial-i.e., big enough to minimize the firm's costs. 
E)  All of these criteria would be useful.

Question 15

A "product-market" is a market in which:

Accepted Answer

A)  all sellers offer exactly the same product. 
B)  one firm has achieved a competitive advantage. 
C)  all sellers offer products that are unique and innovative. 
D)  sellers offer very close substitute ways of satisfying potential customers' needs. 
E)  sellers offer substitute products which are quite different physically or conceptually. 
A)  all sellers offer exactly the same product. 
B)  one firm has achieved a competitive advantage. 
C)  all sellers offer products that are unique and innovative. 
D)  sellers offer very close substitute ways of satisfying potential customers' needs. 
E)  sellers offer substitute products which are quite different physically or conceptually.

Question 16

A "substantial" market segment is one which is big enough to be profitable.

Accepted Answer

A) True 
 B)False

Question 17

A marketer will likely need to reposition a product if:

Accepted Answer

A)  very few competitors offer similar products. 
B)  customers see the product as distinct from other products in the market. 
C)  marketers see the product as distinct from other products in the market. 
D)  customers see the product as very similar to other products in the market. 
E)  marketers see the product as very similar to other products in the market. 
A)  very few competitors offer similar products. 
B)  customers see the product as distinct from other products in the market. 
C)  marketers see the product as distinct from other products in the market. 
D)  customers see the product as very similar to other products in the market. 
E)  marketers see the product as very similar to other products in the market.

Question 18

Effective market segmentation is a two-step process that starts with naming broad product-markets and then goes on to segmenting these broad product-markets into more homogeneous submarkets.

Accepted Answer

A) True 
 B)False

Question 19

Alpine Auto Repair keeps a record of customer oil changes and sends a reminder postcard to its customers when it's time for the next oil change. This is an example of a ______ system.

Accepted Answer

A)  customer relationship management 
B)  qualifying dimensions 
C)  a positioning matrix 
D)  geographic targeting 
E)  clustering 
A)  customer relationship management 
B)  qualifying dimensions 
C)  a positioning matrix 
D)  geographic targeting 
E)  clustering

Question 20

Sanders Beverages, Inc. is targeting non-juice drinkers with a new line of healthy fruit juices. Identify the segmenting dimension most likely being used by Sanders Beverages.

Accepted Answer

A)  Geographic 
B)  Behavioral 
C)  Geodemographic 
D)  Demographic 
E)  Urgency to get need satisfied 
A)  Geographic 
B)  Behavioral 
C)  Geodemographic 
D)  Demographic 
E)  Urgency to get need satisfied

In a generic market

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

A digital camera, a computer video-cam, and a computer scanner might compete in the same

A _____ is a relatively homogeneous group of customers who will respond to a marketing mix in a similar way.

A transistor radio, an MP3 player, and a portable CD player might compete in the same

The MOST USEFUL dimensions for segmenting markets are:

The disaggregating step in market segmentation involves

According to the text, segmenting should be viewed as a(n) ______________ process.

The marketing management team for Dada Motors brainstormed a variety of solutions to the problem of how to transport people in the world. This process came during the ____ step in the market segmentation process.

A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.

Unlike a generic market description, a product-market definition includes

Which of the following offers a firm the greatest potential for profit?

Customer relationship management (CRM) data is generally used by firms to:

Which of the following criteria should a marketing manager use when segmenting a broad product-market?

A "product-market" is a market in which:

A "substantial" market segment is one which is big enough to be profitable.

A marketer will likely need to reposition a product if:

Effective market segmentation is a two-step process that starts with naming broad product-markets and then goes on to segmenting these broad product-markets into more homogeneous submarkets.

Alpine Auto Repair keeps a record of customer oil changes and sends a reminder postcard to its customers when it's time for the next oil change. This is an example of a ______ system.

Sanders Beverages, Inc. is targeting non-juice drinkers with a new line of healthy fruit juices. Identify the segmenting dimension most likely being used by Sanders Beverages.

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

In a generic market

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

A digital camera, a computer video-cam, and a computer scanner might compete in the same

A _____ is a relatively homogeneous group of customers who will respond to a marketing mix in a similar way.

A transistor radio, an MP3 player, and a portable CD player might compete in the same

The MOST USEFUL dimensions for segmenting markets are:

The disaggregating step in market segmentation involves

According to the text, segmenting should be viewed as a(n) ______________ process.

The marketing management team for Dada Motors brainstormed a variety of solutions to the problem of how to transport people in the world. This process came during the ____ step in the market segmentation process.

A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.

Unlike a generic market description, a product-market definition includes

Which of the following offers a firm the greatest potential for profit?

Customer relationship management (CRM) data is generally used by firms to:

Which of the following criteria should a marketing manager use when segmenting a broad product-market?

A "product-market" is a market in which:

A "substantial" market segment is one which is big enough to be profitable.

A marketer will likely need to reposition a product if:

Effective market segmentation is a two-step process that starts with naming broad product-markets and then goes on to segmenting these broad product-markets into more homogeneous submarkets.

Alpine Auto Repair keeps a record of customer oil changes and sends a reminder postcard to its customers when it's time for the next oil change. This is an example of a ______ system.

Sanders Beverages, Inc. is targeting non-juice drinkers with a new line of healthy fruit juices. Identify the segmenting dimension most likely being used by Sanders Beverages.

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