Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

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 3

Electro Technologies,Inc.(ETI)has limited capital and wants to reduce the risk of competitors taking customers if it invests in a new product-market.Its broad product-market consists of three reasonably distinct submarkets.To identify a target market,ETI should probably focus on using the __________ approach.

Accepted Answer

A)  combined target market 
B)  mass marketing 
C)  multiple target market 
D)  single target market 
E)  none of these is a good choice for Electro Technologies. 
A)  combined target market 
B)  mass marketing 
C)  multiple target market 
D)  single target market 
E)  none of these is a good choice for Electro Technologies.

Question 4

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)  The market should always be homogenous in nature. 
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)  The market should always be homogenous in nature.

Question 5

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 6

____ dimensions actually affect the customer's purchase of a specific product or brand in a product-market.

Accepted Answer

A)  Behavioral 
B)  Demographic 
C)  Determining 
D)  Qualifying 
E)  Geographic 
A)  Behavioral 
B)  Demographic 
C)  Determining 
D)  Qualifying 
E)  Geographic

Question 7

______ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.

Accepted Answer

A)  Market segmentation 
B)  Strategic planning 
C)  Mass marketing 
D)  Market positioning 
E)  Implementation 
A)  Market segmentation 
B)  Strategic planning 
C)  Mass marketing 
D)  Market positioning 
E)  Implementation

Question 8

Making a very specific marketing mix for a particular group is always less profitable than a more general marketing mix that appeals to a larger segment.

Accepted Answer

A) True 
 B)False

Question 9

When Hallmark stores offer a product line that includes everything you need to have a Spiderman theme birthday party,what is the primary segmenting dimension that Hallmark is using?

Accepted Answer

A)  Gender 
B)  Family size 
C)  Benefits sought 
D)  Rate of use 
E)  Size of city 
A)  Gender 
B)  Family size 
C)  Benefits sought 
D)  Rate of use 
E)  Size of city

Question 10

A positioning analysis is a product-oriented approach.

Accepted Answer

A) True 
 B)False

Question 11

A product-market is one in which

Accepted Answer

A)  demand is inelastic. 
B)  products that are close substitutes for each other compete for customers by trying to satisfy very similar needs. 
C)  breakthrough opportunities are no longer possible. 
D)  one seller has a patent for a superior product and other competitors try to imitate the leader. 
E)  All of these alternatives are true. 
A)  demand is inelastic. 
B)  products that are close substitutes for each other compete for customers by trying to satisfy very similar needs. 
C)  breakthrough opportunities are no longer possible. 
D)  one seller has a patent for a superior product and other competitors try to imitate the leader. 
E)  All of these alternatives are true.

Question 12

Which of the following product-market "names" refers to where a firm competes,or plans to compete,for customers?

Accepted Answer

A)  Product type 
B)  User Needs 
C)  Customer types 
D)  Geographic area 
E)  Warranty period 
A)  Product type 
B)  User Needs 
C)  Customer types 
D)  Geographic area 
E)  Warranty period

Question 13

A target marketer who uses two different marketing mix strategies to make two separate appeals to office tablet computer users and home tablet computer users is applying the ______.

Accepted Answer

A)  broad market approach 
B)  single target market approach 
C)  multiple target market approach 
D)  combined target market approach 
E)  generic market approach 
A)  broad market approach 
B)  single target market approach 
C)  multiple target market approach 
D)  combined target market approach 
E)  generic market approach

Question 14

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 15

The correct number of submarkets in a broad product-market is usually obvious,so the likelihood of managerial error is small.

Accepted Answer

A) True 
 B)False

Question 16

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.

Question 17

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 18

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 19

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 20

CRM approaches are based on information from detailed customer databases.

Accepted Answer

A) True 
 B)False

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

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

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

BEHAVIORAL (rather than DEMOGRAPHIC)segmenting dimensions include:

____ dimensions actually affect the customer's purchase of a specific product or brand in a product-market.

______ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.

Making a very specific marketing mix for a particular group is always less profitable than a more general marketing mix that appeals to a larger segment.

When Hallmark stores offer a product line that includes everything you need to have a Spiderman theme birthday party,what is the primary segmenting dimension that Hallmark is using?

A positioning analysis is a product-oriented approach.

A product-market is one in which

Which of the following product-market "names" refers to where a firm competes,or plans to compete,for customers?

A target marketer who uses two different marketing mix strategies to make two separate appeals to office tablet computer users and home tablet computer users is applying the ______.

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

The correct number of submarkets in a broad product-market is usually obvious,so the likelihood of managerial error is small.

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

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

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

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.

CRM approaches are based on information from detailed customer databases.

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

Exam 6: Focusing Marketing Strategy With Segmentation and Positioning

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

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

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

BEHAVIORAL (rather than DEMOGRAPHIC)segmenting dimensions include:

____ dimensions actually affect the customer's purchase of a specific product or brand in a product-market.

______ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.

Making a very specific marketing mix for a particular group is always less profitable than a more general marketing mix that appeals to a larger segment.

When Hallmark stores offer a product line that includes everything you need to have a Spiderman theme birthday party,what is the primary segmenting dimension that Hallmark is using?

A positioning analysis is a product-oriented approach.

A product-market is one in which

Which of the following product-market "names" refers to where a firm competes,or plans to compete,for customers?

A target marketer who uses two different marketing mix strategies to make two separate appeals to office tablet computer users and home tablet computer users is applying the ______.

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

The correct number of submarkets in a broad product-market is usually obvious,so the likelihood of managerial error is small.

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

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

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

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.

CRM approaches are based on information from detailed customer databases.

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