Question 1

Which of the following is LEAST LIKELY to compete in the same generic market with the others?

Accepted Answer

A)  Long-stem roses 
B)  A tomato 
C)  Champagne 
D)  A greeting card 
E)  A telegram 
A)  Long-stem roses 
B)  A tomato 
C)  Champagne 
D)  A greeting card 
E)  A telegram

Question 2

A "good" market segment should be composed of people who are as homogeneous as possible with respect to their likely responses to marketing mix variables.

Accepted Answer

A) True 
 B)False

Question 3

A target marketer who uses a single marketing mix strategy to appeal to both 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 4

Market segmentation says that target marketers should develop one good marketing mix aimed at a fairly large market.

Accepted Answer

A) True 
 B)False

Question 5

When a company becomes aware that a new product is being test marketed by one of its competitors in St.Louis,it decides to create a similar product and rush it to market.This company can be described as a(n)______.

Accepted Answer

A)  copycat 
B)  innovator 
C)  me-too imitator 
D)  first mover 
E)  early adopter 
A)  copycat 
B)  innovator 
C)  me-too imitator 
D)  first mover 
E)  early adopter

Question 6

If geographic location and other demographic characteristics are used as target market dimensions,which potential strategy decision area is mostly likely to be affected?

Accepted Answer

A)  Promotion-what potential customers need 
B)  Target markets-size 
C)  Price-what customers might be willing to pay 
D)  Product line assortment 
E)  Product-which features to include 
A)  Promotion-what potential customers need 
B)  Target markets-size 
C)  Price-what customers might be willing to pay 
D)  Product line assortment 
E)  Product-which features to include

Question 7

Marketers segment broad markets into smaller target segments based on a variety of ______.

Accepted Answer

A)  marketing grids 
B)  positioning maps 
C)  dimensions 
D)  qualifiers 
E)  data 
A)  marketing grids 
B)  positioning maps 
C)  dimensions 
D)  qualifiers 
E)  data

Question 8

"Good" market segments are those that are ______.

Accepted Answer

A)  homogeneous between 
B)  heterogeneous within 
C)  operational and substantial 
D)  international in nature 
E)  substantial all the time 
A)  homogeneous between 
B)  heterogeneous within 
C)  operational and substantial 
D)  international in nature 
E)  substantial all the time

Question 9

A firm's "relevant market for finding opportunities" should ______.

Accepted Answer

A)  have no geographic boundaries 
B)  be bigger than the firm's present product-market-but not so big that the firm couldn't be an important competitor 
C)  be no larger than the firm's present product-market 
D)  usually be named in product-related terms 
E)  have no strong competitors 
A)  have no geographic boundaries 
B)  be bigger than the firm's present product-market-but not so big that the firm couldn't be an important competitor 
C)  be no larger than the firm's present product-market 
D)  usually be named in product-related terms 
E)  have no strong competitors

Question 10

The more heterogeneous a firm's target market becomes,the more likely the firm will see competition from an innovative segmenter.

Accepted Answer

A) True 
 B)False

Question 11

Deciding whether a group of customers should be included in a target market is the purpose of _____ dimensions.

Accepted Answer

A)  behavioral 
B)  demographic 
C)  determining 
D)  qualifying 
E)  geographic 
A)  behavioral 
B)  demographic 
C)  determining 
D)  qualifying 
E)  geographic

Question 12

A generic market

Accepted Answer

A)  may include sellers who compete in different product-markets. 
B)  would probably be broader than the firm's target market. 
C)  might be composed of several different product-markets. 
D)  has sellers offering a more diverse set of products. 
E)  All of these are correct for a generic market. 
A)  may include sellers who compete in different product-markets. 
B)  would probably be broader than the firm's target market. 
C)  might be composed of several different product-markets. 
D)  has sellers offering a more diverse set of products. 
E)  All of these are correct for a generic market.

Question 13

When deciding how far to carry the segmenting process,______.

Accepted Answer

A)  profit should be the balancing point-determining how unique a marketing mix the firm can offer to some target market 
B)  it is easier to develop effective marketing mixes for larger, more heterogeneous segments 
C)  cost considerations encourage less aggregating 
D)  the threat of potential competitors suggests more aggregating 
E)  segmenters should consider the demographic attributes of the target customers 
A)  profit should be the balancing point-determining how unique a marketing mix the firm can offer to some target market 
B)  it is easier to develop effective marketing mixes for larger, more heterogeneous segments 
C)  cost considerations encourage less aggregating 
D)  the threat of potential competitors suggests more aggregating 
E)  segmenters should consider the demographic attributes of the target customers

Question 14

Clustering techniques

Accepted Answer

A)  help sellers fine-tune the marketing effort with information from a detailed customer database. 
B)  establish how customers think about proposed or present brands in a market. 
C)  try to find similar patterns within sets of data. 
D)  group customers into heterogeneous segments. 
E)  use intuition and judgment to do what previously was done by computers. 
A)  help sellers fine-tune the marketing effort with information from a detailed customer database. 
B)  establish how customers think about proposed or present brands in a market. 
C)  try to find similar patterns within sets of data. 
D)  group customers into heterogeneous segments. 
E)  use intuition and judgment to do what previously was done by computers.

Question 15

How is "segmenting" different from "combining"?

Accepted Answer

A)  Combiners usually have more sales potential than segmenters. 
B)  A combiner tries to meet the demand in several segments. 
C)  Segmenters try to develop a marketing mix that will have general appeal for several market segments-to obtain economies of scale. 
D)  A segmenter assumes that a broad product-market consists of a fairly homogeneous group of customers. 
E)  Both segmenters and combiners try to satisfy some people very well rather than a lot of people fairly well. 
A)  Combiners usually have more sales potential than segmenters. 
B)  A combiner tries to meet the demand in several segments. 
C)  Segmenters try to develop a marketing mix that will have general appeal for several market segments-to obtain economies of scale. 
D)  A segmenter assumes that a broad product-market consists of a fairly homogeneous group of customers. 
E)  Both segmenters and combiners try to satisfy some people very well rather than a lot of people fairly well.

Question 16

A generic market description should NOT include any:

Accepted Answer

A)  customer needs. 
B)  geographic area. 
C)  competitors' names. 
D)  customer types. 
E)  all of these should be included in a generic market description. 
A)  customer needs. 
B)  geographic area. 
C)  competitors' names. 
D)  customer types. 
E)  all of these should be included in a generic market description.

Question 17

Segmenting international markets (as contrasted with domestic markets):

Accepted Answer

A)  is more complicated because qualifying dimensions are not helpful. 
B)  may be more difficult because critical data may not be available or dependable. 
C)  usually involves less risk because more potential target markets are available. 
D)  usually involves fewer segmenting dimensions. 
E)  None of these alternatives is true. 
A)  is more complicated because qualifying dimensions are not helpful. 
B)  may be more difficult because critical data may not be available or dependable. 
C)  usually involves less risk because more potential target markets are available. 
D)  usually involves fewer segmenting dimensions. 
E)  None of these alternatives is true.

Question 18

Market segmentation is a two-step process that involves naming broad product-markets and segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.

Accepted Answer

A) True 
 B)False

Question 19

A variant of the clustering approach relies on ____,where the seller adjusts the marketing effort with information from a database with customer information.

Accepted Answer

A)  customer relationship management 
B)  corporate governance 
C)  social audit 
D)  cluster sampling 
E)  data warehouse management 
A)  customer relationship management 
B)  corporate governance 
C)  social audit 
D)  cluster sampling 
E)  data warehouse management

Question 20

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

Exam 6: Focusing Marketing Strategy With Segmentation and Positioning

Which of the following is LEAST LIKELY to compete in the same generic market with the others?

A "good" market segment should be composed of people who are as homogeneous as possible with respect to their likely responses to marketing mix variables.

A target marketer who uses a single marketing mix strategy to appeal to both office tablet computer users and home tablet computer users is applying the ______.

Market segmentation says that target marketers should develop one good marketing mix aimed at a fairly large market.

When a company becomes aware that a new product is being test marketed by one of its competitors in St.Louis,it decides to create a similar product and rush it to market.This company can be described as a(n)______.

If geographic location and other demographic characteristics are used as target market dimensions,which potential strategy decision area is mostly likely to be affected?

Marketers segment broad markets into smaller target segments based on a variety of ______.

"Good" market segments are those that are ______.

A firm's "relevant market for finding opportunities" should ______.

The more heterogeneous a firm's target market becomes,the more likely the firm will see competition from an innovative segmenter.

Deciding whether a group of customers should be included in a target market is the purpose of _____ dimensions.

A generic market

When deciding how far to carry the segmenting process,______.

Clustering techniques

How is "segmenting" different from "combining"?

A generic market description should NOT include any:

Segmenting international markets (as contrasted with domestic markets):

Market segmentation is a two-step process that involves naming broad product-markets and segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.

A variant of the clustering approach relies on ____,where the seller adjusts the marketing effort with information from a database with customer information.

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"?

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