Question 1

A market in which sellers offer various,often diverse,ways of satisfying needs is called a ______ market.

Accepted Answer

A)  product 
B)  diverse 
C)  general 
D)  relevant 
E)  generic 
A)  product 
B)  diverse 
C)  general 
D)  relevant 
E)  generic

Question 2

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 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

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

Accepted Answer

A)  Popcorn. 
B)  Soft drink. 
C)  Napkin. 
D)  Cookie. 
E)  Ice cream. 
A)  Popcorn. 
B)  Soft drink. 
C)  Napkin. 
D)  Cookie. 
E)  Ice cream.

Question 5

Customer relationship management (CRM)helps consumer marketers ______.

Accepted Answer

A)  limit their personalization efforts 
B)  treat all submarkets as a single huge market 
C)  reduce their focus on local customers 
D)  deliver the same marketing mix to all customer segments 
E)  treat customers individually as segments of one 
A)  limit their personalization efforts 
B)  treat all submarkets as a single huge market 
C)  reduce their focus on local customers 
D)  deliver the same marketing mix to all customer segments 
E)  treat customers individually as segments of one

Question 6

Identify the INCORRECT statement about approaches to market-oriented strategy planning.

Accepted Answer

A)  It's usually safer to be a combiner. 
B)  Cost considerations encourage aggregating. 
C)  Demand considerations encourage less aggregating. 
D)  The approach a firm uses depends in part on the firm's resources. 
E)  Generally, it is better to try and satisfy some customers very well instead of many just fairly well. 
A)  It's usually safer to be a combiner. 
B)  Cost considerations encourage aggregating. 
C)  Demand considerations encourage less aggregating. 
D)  The approach a firm uses depends in part on the firm's resources. 
E)  Generally, it is better to try and satisfy some customers very well instead of many just fairly well.

Question 7

"Good" market segments are those which are:

Accepted Answer

A)  heterogeneous between. 
B)  operational. 
C)  substantial. 
D)  homogeneous within. 
E)  All of these choices are correct. 
A)  heterogeneous between. 
B)  operational. 
C)  substantial. 
D)  homogeneous within. 
E)  All of these choices are correct.

Question 8

A cluster analysis of the "toothpaste market" would probably show that ______.

Accepted Answer

A)  the broad product-market can be served effectively with one marketing mix 
B)  most consumers are mainly concerned about brightness of teeth 
C)  factors such as taste, price, and "sex appeal" are not important 
D)  different market segments seek different product benefits 
E)  pricing strategies of the competitor products do not matter 
A)  the broad product-market can be served effectively with one marketing mix 
B)  most consumers are mainly concerned about brightness of teeth 
C)  factors such as taste, price, and "sex appeal" are not important 
D)  different market segments seek different product benefits 
E)  pricing strategies of the competitor products do not matter

Question 9

How customers think about the various brands in a market can be graphically represented and tracked through ______.

Accepted Answer

A)  segmenting 
B)  positioning 
C)  targeting 
D)  researching 
E)  clustering 
A)  segmenting 
B)  positioning 
C)  targeting 
D)  researching 
E)  clustering

Question 10

The first step in segmenting international markets is to group countries that are close to each other into "common markets."

Accepted Answer

A) True 
 B)False

Question 11

Marketing managers want market segments to have each of the following characteristics EXCEPT:

Accepted Answer

A)  As similar as possible within segments. 
B)  As different as possible between segments. 
C)  As numerous as possible. 
D)  Useful for identifying marketing mix variables. 
E)  Large enough to be profitable. 
A)  As similar as possible within segments. 
B)  As different as possible between segments. 
C)  As numerous as possible. 
D)  Useful for identifying marketing mix variables. 
E)  Large enough to be profitable.

Question 12

The qualifying dimensions help identify the "core benefits" that must be offered to everyone in a product-market.

Accepted Answer

A) True 
 B)False

Question 13

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 14

A firm is most likely to rely on customer relationship management (CRM)approaches when it does not have a database of information on individual customers.

Accepted Answer

A) True 
 B)False

Question 15

A market is a group of competitors selling similar products.

Accepted Answer

A) True 
 B)False

Question 16

A large firm with ample resources wants to minimize the risk of "inviting" competitors to "chip away" at its target market(s).It has segmented its broad product-market and identified several homogeneous submarkets-each of which is large enough to offer attractive sales and profit potential.Which of the following approaches should the firm use?

Accepted Answer

A)  Multiple target market approach 
B)  Mass marketing approach 
C)  Combined target market approach 
D)  Single target market approach 
E)  Niche market targeting approach 
A)  Multiple target market approach 
B)  Mass marketing approach 
C)  Combined target market approach 
D)  Single target market approach 
E)  Niche market targeting approach

Question 17

When a customer orders a book at Amazon.com,the online retailer recommends related books that have been purchased by other customers who bought that book.Amazon is using a(n):

Accepted Answer

A)  aggregating approach. 
B)  CRM database. 
C)  clustering approach. 
D)  disaggregating approach. 
E)  generic market. 
A)  aggregating approach. 
B)  CRM database. 
C)  clustering approach. 
D)  disaggregating approach. 
E)  generic market.

Question 18

Which of the following is a consumer market demographic dimension?

Accepted Answer

A)  Income distribution 
B)  Stage in family life cycle 
C)  Family size 
D)  Ethnic group 
E)  All of these are examples of a consumer market demographic dimension 
A)  Income distribution 
B)  Stage in family life cycle 
C)  Family size 
D)  Ethnic group 
E)  All of these are examples of a consumer market demographic dimension

Question 19

"Good" market segments should be heterogeneous within and homogeneous between.

Accepted Answer

A) True 
 B)False

Question 20

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

A market in which sellers offer various,often diverse,ways of satisfying needs is called a ______ market.

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

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

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

Customer relationship management (CRM)helps consumer marketers ______.

Identify the INCORRECT statement about approaches to market-oriented strategy planning.

"Good" market segments are those which are:

A cluster analysis of the "toothpaste market" would probably show that ______.

How customers think about the various brands in a market can be graphically represented and tracked through ______.

The first step in segmenting international markets is to group countries that are close to each other into "common markets."

Marketing managers want market segments to have each of the following characteristics EXCEPT:

The qualifying dimensions help identify the "core benefits" that must be offered to everyone in a product-market.

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.

A firm is most likely to rely on customer relationship management (CRM)approaches when it does not have a database of information on individual customers.

A market is a group of competitors selling similar products.

When a customer orders a book at Amazon.com,the online retailer recommends related books that have been purchased by other customers who bought that book.Amazon is using a(n):

Which of the following is a consumer market demographic dimension?

"Good" market segments should be heterogeneous within and homogeneous between.

A marketer will likely need to reposition a product if ______.

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 market in which sellers offer various,often diverse,ways of satisfying needs is called a ______ market.

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

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

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

Customer relationship management (CRM)helps consumer marketers ______.

Identify the INCORRECT statement about approaches to market-oriented strategy planning.

"Good" market segments are those which are:

A cluster analysis of the "toothpaste market" would probably show that ______.

How customers think about the various brands in a market can be graphically represented and tracked through ______.

The first step in segmenting international markets is to group countries that are close to each other into "common markets."

Marketing managers want market segments to have each of the following characteristics EXCEPT:

The qualifying dimensions help identify the "core benefits" that must be offered to everyone in a product-market.

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.

A firm is most likely to rely on customer relationship management (CRM)approaches when it does not have a database of information on individual customers.

A market is a group of competitors selling similar products.

When a customer orders a book at Amazon.com,the online retailer recommends related books that have been purchased by other customers who bought that book.Amazon is using a(n):

Which of the following is a consumer market demographic dimension?

"Good" market segments should be heterogeneous within and homogeneous between.

A marketer will likely need to reposition a product if ______.

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