Question 1

James is a prospective car buyer.In his context,which of the following statements would reflect a determining dimension?

Accepted Answer

A)  He must have enough money, or credit, to buy a car and insure it. 
B)  He needs to have a valid driver's license. 
C)  He has kids who have to be carpooled. 
D)  He needs a safe car. 
E)  His office is 2.5 miles from home. 
A)  He must have enough money, or credit, to buy a car and insure it. 
B)  He needs to have a valid driver's license. 
C)  He has kids who have to be carpooled. 
D)  He needs a safe car. 
E)  His office is 2.5 miles from home.

Question 2

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 3

Which of the following is NOT true of a product-market?

Accepted Answer

A)  Competing suppliers offer close substitutes to satisfy needs. 
B)  Customers in a product-market have very similar needs. 
C)  Very different types of products may compete for consumer dollars. 
D)  Naming product-markets includes consideration of where the customers are. 
E)  None of these alternatives is true. 
A)  Competing suppliers offer close substitutes to satisfy needs. 
B)  Customers in a product-market have very similar needs. 
C)  Very different types of products may compete for consumer dollars. 
D)  Naming product-markets includes consideration of where the customers are. 
E)  None of these alternatives is true.

Question 4

Market segmentation applies only to consumer goods and services; it cannot be applied to business products.

Accepted Answer

A) True 
 B)False

Question 5

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 6

Segmenting dimensions

Accepted Answer

A)  are useful for segmenting consumer markets, but not business markets. 
B)  help guide marketing mix planning. 
C)  are always demographic or geographic. 
D)  fall into two general categories: qualifying and purchasing. 
E)  may be called qualifying or non-qualifying. 
A)  are useful for segmenting consumer markets, but not business markets. 
B)  help guide marketing mix planning. 
C)  are always demographic or geographic. 
D)  fall into two general categories: qualifying and purchasing. 
E)  may be called qualifying or non-qualifying.

Question 7

A visual aid to market segmentation is called the ______.

Accepted Answer

A)  marketing grid 
B)  target market 
C)  market boundary 
D)  homogenous market 
E)  heterogeneous market 
A)  marketing grid 
B)  target market 
C)  market boundary 
D)  homogenous market 
E)  heterogeneous market

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

Qualifying dimensions are those that actually affect the customer's purchase of a specific brand in a product-market.

Accepted Answer

A) True 
 B)False

Question 10

What is the main difference between a generic market and a product-market?

Accepted Answer

A)  a A generic-market involves a less similar set of needs than does a product-market. 
B)  A product-market is usually larger than a generic market. 
C)  Product-markets usually don't involve competition, but generic markets do. 
D)  Sellers in a generic market are more concerned with prices than sellers in a product-market. 
E)  There is no difference between the two. 
A)  a A generic-market involves a less similar set of needs than does a product-market. 
B)  A product-market is usually larger than a generic market. 
C)  Product-markets usually don't involve competition, but generic markets do. 
D)  Sellers in a generic market are more concerned with prices than sellers in a product-market. 
E)  There is no difference between the two.

Question 11

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 12

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 13

A product-market definition should include:

Accepted Answer

A)  product type. 
B)  customer types. 
C)  customer needs. 
D)  geographic area. 
E)  All of these alternatives are correct. 
A)  product type. 
B)  customer types. 
C)  customer needs. 
D)  geographic area. 
E)  All of these alternatives are correct.

Question 14

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 15

Gina Williams wanted to start a decorating business.She identified several possible target markets,but decided to serve a market composed of recently married couples that owned their first home.Gina appears to be following the ______ approach.

Accepted Answer

A)  multiple target market 
B)  single target market 
C)  combined target market 
D)  mass marketing 
E)  niche market targeting 
A)  multiple target market 
B)  single target market 
C)  combined target market 
D)  mass marketing 
E)  niche market targeting

Question 16

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 17

When you are "in the market" for a new car,and are considering different brands to purchase,what type of market is involved?

Accepted Answer

A)  Product-market 
B)  Qualifying market 
C)  Generic market 
D)  Determining market 
A)  Product-market 
B)  Qualifying market 
C)  Generic market 
D)  Determining market

Question 18

Which of the following is the best example of a "product-market"?

Accepted Answer

A)  The MP3 player market 
B)  The young adult exercise market 
C)  The software market 
D)  The convenience market 
E)  The status symbol market 
A)  The MP3 player market 
B)  The young adult exercise market 
C)  The software market 
D)  The convenience market 
E)  The status symbol market

Question 19

When a company provides its advertising agency with a statement about a new product to use in designing an advertising campaign,and this statement includes a description of the target market,the product type,the primary benefits of using the product,and how this product is different from,and better than,competitive products,what type of statement is this?

Accepted Answer

A)  Qualifying 
B)  Positioning 
C)  Determining 
D)  Clustering 
E)  Combining 
A)  Qualifying 
B)  Positioning 
C)  Determining 
D)  Clustering 
E)  Combining

Question 20

Which of the following is not a valid criterion of a "good" market segment?

Accepted Answer

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

James is a prospective car buyer.In his context,which of the following statements would reflect a determining dimension?

The process of market segmentation involves:

Which of the following is NOT true of a product-market?

Market segmentation applies only to consumer goods and services; it cannot be applied to business products.

Positioning analysis

Segmenting dimensions

A visual aid to market segmentation is called the ______.

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

Qualifying dimensions are those that actually affect the customer's purchase of a specific brand in a product-market.

What is the main difference between a generic market and a product-market?

Market segmentation:

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

A product-market definition should include:

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

Gina Williams wanted to start a decorating business.She identified several possible target markets,but decided to serve a market composed of recently married couples that owned their first home.Gina appears to be following the ______ approach.

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

When you are "in the market" for a new car,and are considering different brands to purchase,what type of market is involved?

Which of the following is the best example of a "product-market"?

Which of the following is not a valid criterion of a "good" market segment?

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

James is a prospective car buyer.In his context,which of the following statements would reflect a determining dimension?

The process of market segmentation involves:

Which of the following is NOT true of a product-market?

Market segmentation applies only to consumer goods and services; it cannot be applied to business products.

Positioning analysis

Segmenting dimensions

A visual aid to market segmentation is called the ______.

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

Qualifying dimensions are those that actually affect the customer's purchase of a specific brand in a product-market.

What is the main difference between a generic market and a product-market?

Market segmentation:

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

A product-market definition should include:

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

Gina Williams wanted to start a decorating business.She identified several possible target markets,but decided to serve a market composed of recently married couples that owned their first home.Gina appears to be following the ______ approach.

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

When you are "in the market" for a new car,and are considering different brands to purchase,what type of market is involved?

Which of the following is the best example of a "product-market"?

Which of the following is not a valid criterion of a "good" market segment?

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