Question 1

A firm's "relevant market for finding opportunities" should:

Accepted Answer

A)  be limited to products the firm already produces. 
B)  be bigger than the firm's present product-market-but not so big that the firm could not be an important competitor. 
C)  have no geographic boundaries. 
D)  be as large a possible. 
E)  be no larger than the firm's present product-market. 
A)  be limited to products the firm already produces. 
B)  be bigger than the firm's present product-market-but not so big that the firm could not be an important competitor. 
C)  have no geographic boundaries. 
D)  be as large a possible. 
E)  be no larger than the firm's present product-market. B

Question 2

A combined target market approach

Accepted Answer

A)  sacrifices possible economies of scale. 
B)  requires more investment than a multiple target market approach. 
C)  may not satisfy customers as well as the multiple target market approach. 
D)  trades off sales volume to provide a small market superior value. 
E)  aims at two or more segments with multiple marketing mixes. 
A)  sacrifices possible economies of scale. 
B)  requires more investment than a multiple target market approach. 
C)  may not satisfy customers as well as the multiple target market approach. 
D)  trades off sales volume to provide a small market superior value. 
E)  aims at two or more segments with multiple marketing mixes. C

Question 3

A firm involved in international marketing should pay even more attention to segmenting than a firm that sells only in the United States.

Accepted Answer

A) True 
 B)False  True

Question 4

Which of the following statements about positioning is FALSE?

Accepted Answer

A)  Positioning often makes use of techniques such as perceptual mapping. 
B)  Positioning refers to how customers think about proposed or present brands in a market. 
C)  Positioning issues are especially important when competitors in a market are highly dissimilar. 
D)  Positioning helps marketing managers know how customers view the firm's offering. 
E)  Managers make graphs for positioning decisions by asking consumers to make judgments about different brands. 
A)  Positioning often makes use of techniques such as perceptual mapping. 
B)  Positioning refers to how customers think about proposed or present brands in a market. 
C)  Positioning issues are especially important when competitors in a market are highly dissimilar. 
D)  Positioning helps marketing managers know how customers view the firm's offering. 
E)  Managers make graphs for positioning decisions by asking consumers to make judgments about different brands.

Question 5

Which of the following possible segmenting dimensions is a "demographic" dimension?

Accepted Answer

A)  Benefits sought 
B)  Social class 
C)  Purchase relationship 
D)  Brand familiarity 
E)  Rate of use 
A)  Benefits sought 
B)  Social class 
C)  Purchase relationship 
D)  Brand familiarity 
E)  Rate of use

Question 6

Which of the following statements about the combined target market approach is True?

Accepted Answer

A)  Combiners feel that two or more segments are similar enough that-together-they can be treated as one large target market. 
B)  Combiners try to extend their basic offering to satisfy customers from multiple segments with a single marketing mix. 
C)  Combiners may fall victim to an innovative segmenter that offers a more attractive marketing mix to a segment of the combined target market. 
D)  All of these statements about the combined target market approach are true. 
A)  Combiners feel that two or more segments are similar enough that-together-they can be treated as one large target market. 
B)  Combiners try to extend their basic offering to satisfy customers from multiple segments with a single marketing mix. 
C)  Combiners may fall victim to an innovative segmenter that offers a more attractive marketing mix to a segment of the combined target market. 
D)  All of these statements about the combined target market approach are true.

Question 7

If a company plans to sell its products to a market segment consisting of "outgoing personalities," this would NOT be a good market segment primarily because of which of the following criteria?

Accepted Answer

A)  Homogeneous within 
B)  Heterogeneous between 
C)  Generic 
D)  Operational 
E)  Substantial 
A)  Homogeneous within 
B)  Heterogeneous between 
C)  Generic 
D)  Operational 
E)  Substantial

Question 8

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 9

In a generic market,

Accepted Answer

A)  diverse types of products may compete for customers. 
B)  customers have broadly similar needs. 
C)  there may be many ways to satisfy customers' needs. 
D)  sellers may compete in different product-markets. 
E)  All of these are correct for a generic market. 
A)  diverse types of products may compete for customers. 
B)  customers have broadly similar needs. 
C)  there may be many ways to satisfy customers' needs. 
D)  sellers may compete in different product-markets. 
E)  All of these are correct for a generic market.

Question 10

Segmenting in international markets can be more challenging than segmenting in domestic markets because ______.

Accepted Answer

A)  there is less diversity in the key segmenting dimensions 
B)  there is often more data available about key segmenting dimensions 
C)  critical data is often less available and less dependable 
D)  profit is the balancing point that determines the marketing mix. the markets are homogenous in between and heterogeneous within 
A)  there is less diversity in the key segmenting dimensions 
B)  there is often more data available about key segmenting dimensions 
C)  critical data is often less available and less dependable 
D)  profit is the balancing point that determines the marketing mix. the markets are homogenous in between and heterogeneous within

Question 11

By differentiating the marketing mix to do a better job meeting customers' needs,the firm builds a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 12

A food processor considering snack-food opportunities identified three possible market segments and gave them "nicknames": the dieters,health faddists,and nutrition-conscious parents.It developed a marketing mix around a line of good tasting,nutritious children's snacks.The firm is apparently

Accepted Answer

A)  relying on cluster analysis techniques. 
B)  using a multiple target market approach. 
C)  using a single target market approach. 
D)  using a combined target market approach. 
E)  ignoring the criteria that good market segments should be operational. 
A)  relying on cluster analysis techniques. 
B)  using a multiple target market approach. 
C)  using a single target market approach. 
D)  using a combined target market approach. 
E)  ignoring the criteria that good market segments should be operational.

Question 13

Which of the following tasks should asegmenter be involved in?

Accepted Answer

A)  Assume a whole market with similar set of customers. 
B)  Fine-tune the marketing mix for each target market. 
C)  Merge various submarkets together to satisfy more easily.
).. 
D)  Select a marketing mix that works fairly well with each segment. 
E)  Provide a unique brand name that does not become common. 
A)  Assume a whole market with similar set of customers. 
B)  Fine-tune the marketing mix for each target market. 
C)  Merge various submarkets together to satisfy more easily.
).. 
D)  Select a marketing mix that works fairly well with each segment. 
E)  Provide a unique brand name that does not become common.

Question 14

Planning marketing strategies for international markets:

Accepted Answer

A)  is usually most effective when the marketing manager uses the same marketing strategy for all markets. 
B)  is often easier than planning domestic strategies because economic, political, and other uncontrollable variables are less important. 
C)  is "easy" because each country should be treated as one target market. 
D)  None of these alternatives is true. 
A)  is usually most effective when the marketing manager uses the same marketing strategy for all markets. 
B)  is often easier than planning domestic strategies because economic, political, and other uncontrollable variables are less important. 
C)  is "easy" because each country should be treated as one target market. 
D)  None of these alternatives is true.

Question 15

Merging two or more submarkets into one larger target market as a basis for one strategy is known as the ____ target market approach.

Accepted Answer

A)  particular 
B)  multiple 
C)  combined 
D)  compound 
E)  blended 
A)  particular 
B)  multiple 
C)  combined 
D)  compound 
E)  blended

Question 16

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 17

Using one or two demographic dimensions to describe market segments usually does not provide enough detail for planning a marketing strategy.

Accepted Answer

A) True 
 B)False

Question 18

A complete product-market definition includes all the following descriptions except:

Accepted Answer

A)  what is the product type. 
B)  who are the firm's competitors. 
C)  what customers' needs will be satisfied. 
D)  which customer types will desire the product. 
E)  in which geographic region will the firm compete for customers. 
A)  what is the product type. 
B)  who are the firm's competitors. 
C)  what customers' needs will be satisfied. 
D)  which customer types will desire the product. 
E)  in which geographic region will the firm compete for customers.

Question 19

The first step in segmenting international markets is to:

Accepted Answer

A)  develop a marketing mix. 
B)  treat all the countries in the "foreign market" as one segment. 
C)  segment by country or region-looking at demographic, cultural, and other characteristics. 
D)  list the suppliers who serve the market. 
E)  consider the number, size, kind, and location of business and organizational customers. 
A)  develop a marketing mix. 
B)  treat all the countries in the "foreign market" as one segment. 
C)  segment by country or region-looking at demographic, cultural, and other characteristics. 
D)  list the suppliers who serve the market. 
E)  consider the number, size, kind, and location of business and organizational customers.

Question 20

Firms that operate on the Internet are at a disadvantage when it comes to using approaches like CRM.

Accepted Answer

A) True 
 B)False

Exam 6: Focusing Marketing Strategy With Segmentation and Positioning

A firm's "relevant market for finding opportunities" should:

A combined target market approach

A firm involved in international marketing should pay even more attention to segmenting than a firm that sells only in the United States.

Which of the following statements about positioning is FALSE?

Which of the following possible segmenting dimensions is a "demographic" dimension?

Which of the following statements about the combined target market approach is True?

If a company plans to sell its products to a market segment consisting of "outgoing personalities," this would NOT be a good market segment primarily because of which of the following criteria?

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

In a generic market,

Segmenting in international markets can be more challenging than segmenting in domestic markets because ______.

By differentiating the marketing mix to do a better job meeting customers' needs,the firm builds a competitive advantage.

A food processor considering snack-food opportunities identified three possible market segments and gave them "nicknames": the dieters,health faddists,and nutrition-conscious parents.It developed a marketing mix around a line of good tasting,nutritious children's snacks.The firm is apparently

Which of the following tasks should asegmenter be involved in?

Planning marketing strategies for international markets:

Merging two or more submarkets into one larger target market as a basis for one strategy is known as the ____ target market approach.

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

Using one or two demographic dimensions to describe market segments usually does not provide enough detail for planning a marketing strategy.

A complete product-market definition includes all the following descriptions except:

The first step in segmenting international markets is to:

Firms that operate on the Internet are at a disadvantage when it comes to using approaches like CRM.

Marketings Value to Consumers, Firms, and Society

Implementing and Controlling Marketing Plans: Evolution and Revolution

Marketing Strategy Planning

Managing Marketings Link With Other Functional Areas

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 and Sales Promotion

Publicity: Promotion Using Earned Media, Owned Media, and Social Media

Pricing Objectives and Policies

Price Setting in the Business World

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

Filters