Question 1

When the Sara Lee Bakery Group introduced Iron Kids Crustless bread (to save mothers the time and effort of slicing the crusts off sandwiches),it was using:

Accepted Answer

A)  PRIZM segmentation 
B)  geodemographic segmentation 
C)  niche marketing strategy execution 
D)  product differentiation 
E)  a target market chart 
A)  PRIZM segmentation 
B)  geodemographic segmentation 
C)  niche marketing strategy execution 
D)  product differentiation 
E)  a target market chart

Question 2

A marketing method that tracks interaction with customers to optimize customer satisfaction and long-term company profits is referred to as:

Accepted Answer

A)  80/20 marketing 
B)  interpersonal marketing 
C)  zoned marketing 
D)  customer relationship management 
E)  individual marketing 
A)  80/20 marketing 
B)  interpersonal marketing 
C)  zoned marketing 
D)  customer relationship management 
E)  individual marketing

Question 3

A(n)_____ strategy entails selecting one segment of a market to target and focuses on understanding the needs,motives,and satisfactions of the members of that segment,as well as on developing a highly specialized marketing mix.

Accepted Answer

A)  universal product 
B)  undifferentiated targeting 
C)  concentrated targeting 
D)  market development 
E)  product development 
A)  universal product 
B)  undifferentiated targeting 
C)  concentrated targeting 
D)  market development 
E)  product development

Question 4

Evenflo makes baby gates to keep toddlers away from stairs.What demographic segmentation variable will Evenflo use to identify its target market?

Accepted Answer

A)  Gender 
B)  Benefit 
C)  Usage rate 
D)  Family life cycle 
E)  Ethnic 
A)  Gender 
B)  Benefit 
C)  Usage rate 
D)  Family life cycle 
E)  Ethnic

Question 5

Wrestling Merchandise
Market research has shown that 6- to 17-year-old males, 18- to 24-year-old females, and 18- to 44-year-old males are most likely to watch a televised professional wrestling event or attend a live match. Wrestling events are regularly broadcast in 120 different countries. Merchandise licensed by World Wrestling Entertainment (formerly known as the World Wrestling Federation) can be purchased at JCPenney and Walmart. Clothes for adults are used to reach markets that may not buy action figures, video games, and novelty candy, but who are still proud to sport World Wrestling Entertainment (WWE) trademarks.
-Refer to Wrestling Merchandise.Since the WWE must use different methods to reach its three largest target markets,it must use:

Accepted Answer

A)  undifferentiated targeting 
B)  concentrated or niche targeting 
C)  multisegment targeting 
D)  demarketing 
E)  repositioning 
A)  undifferentiated targeting 
B)  concentrated or niche targeting 
C)  multisegment targeting 
D)  demarketing 
E)  repositioning

Question 6

The 80/20 principle implies that the majority of all demand is due to a minority of the customers.

Accepted Answer

A) True 
 B)False

Question 7

What are the four criteria that are necessary to define a market?

Accepted Answer

A market has the following characteristi

Question 8

In 2008,Apple,Inc.introduced Mobile Me,which keeps everything on a consumer's Mac,PC,iPod,or iPhone on an online server Apple calls the "Cloud" so that it can be accessed at any time.Apple is catering to on-the-go consumers who use multiple platforms.This positioning strategy is based on the:

Accepted Answer

A)  product class 
B)  price and quality 
C)  use or application 
D)  product user 
E)  competitor 
A)  product class 
B)  price and quality 
C)  use or application 
D)  product user 
E)  competitor

Question 9

Clorox describes individuals who buy lots of cleaning products as heavy users.This is an example of how companies use benefit segmentation.

Accepted Answer

A) True 
 B)False

Question 10

Deal$ stores sell a wide variety of low-priced merchandise: party supplies,cleaning products,toys,food,housewares,and health and beauty products for both men and women.Many items in the store are priced no higher than one dollar.Which type of demographic segmentation is Deal$ using?

Accepted Answer

A)  Ethnic 
B)  Usage rate 
C)  Income 
D)  Gender 
E)  Age 
A)  Ethnic 
B)  Usage rate 
C)  Income 
D)  Gender 
E)  Age

Question 11

A(n)_____ is a group of people or organizations for which an organization designs,implements,and maintains a marketing mix intended to meet the needs of that group,resulting in mutually satisfying exchanges.

Accepted Answer

A)  heterogeneous segment 
B)  target market 
C)  responsive segment 
D)  aggregated market 
E)  undifferentiated target 
A)  heterogeneous segment 
B)  target market 
C)  responsive segment 
D)  aggregated market 
E)  undifferentiated target

Question 12

What does the 80/20 principle propose?

Accepted Answer

A)  Roughly 80 percent of the profit comes from 20 percent of the sales. 
B)  Roughly 80 percent of a firm's customers are repeat business. 
C)  Roughly 50 percent of a firm's customers purchase 80 percent of the sales volume of the product. 
D)  Roughly 20 percent of a firm's customers purchase 80 percent of the sales volume of the product. 
E)  Sales are equally divided among heavy, medium, and light users, but they all need slightly different products. 
A)  Roughly 80 percent of the profit comes from 20 percent of the sales. 
B)  Roughly 80 percent of a firm's customers are repeat business. 
C)  Roughly 50 percent of a firm's customers purchase 80 percent of the sales volume of the product. 
D)  Roughly 20 percent of a firm's customers purchase 80 percent of the sales volume of the product. 
E)  Sales are equally divided among heavy, medium, and light users, but they all need slightly different products.

Question 13

What is the family life cycle (FLC)? Briefly describe the lifestyle and purchasing needs of consumers in the following FLC stages: (1)young single,(2)young married without children,(3)young married with children,(4)middle-aged married without children,and (5)older unmarried.

Accepted Answer

The family life cycle (FLC)is a series o

Question 14

Which of the following is a potential disadvantage associated with an undifferentiated strategy?

Accepted Answer

A)  Large competitors may more effectively market to niche segment 
B)  Unimaginative product offerings 
C)  Segments too small 
D)  High costs 
E)  Loss of synergy 
A)  Large competitors may more effectively market to niche segment 
B)  Unimaginative product offerings 
C)  Segments too small 
D)  High costs 
E)  Loss of synergy

Question 15

All of the following are steps in the market segmenting process EXCEPT:

Accepted Answer

A)  determining the objectives of the segmentation strategy 
B)  profiling and analyzing segments 
C)  designing, implementing, and maintaining appropriate marketing mixes 
D)  selecting a market or product category for study 
E)  choosing a basis or bases for segmenting the market 
A)  determining the objectives of the segmentation strategy 
B)  profiling and analyzing segments 
C)  designing, implementing, and maintaining appropriate marketing mixes 
D)  selecting a market or product category for study 
E)  choosing a basis or bases for segmenting the market

Question 16

Until the 1990s,few firms practiced market segmentation.

Accepted Answer

A) True 
 B)False

Question 17

The growth of mass marketing is an indication of the importance of implementing CRM.

Accepted Answer

A) True 
 B)False

Question 18

Markets are always segmented by at least two variables.

Accepted Answer

A) True 
 B)False

Question 19

Redbook magazine targets what it calls "Redbook jugglers," defined as 25- to 44-year-old women who must juggle family,husband,and job.According to a Redbook ad,"She's the product of the 'me generation,' the thirty-something woman who balances home,family,and career-more than any generation before her,she refuses to put her pleasures aside.She's old enough to know what she wants,and young enough to get it." This is an example of _____ segmentation.

Accepted Answer

A)  demographic and psychographic 
B)  benefit desired and usage rate 
C)  geodemographic and benefit desired 
D)  demographic and usage rate 
E)  benefit desired and demographic 
A)  demographic and psychographic 
B)  benefit desired and usage rate 
C)  geodemographic and benefit desired 
D)  demographic and usage rate 
E)  benefit desired and demographic

Question 20

A(n)_____ could help determine whether or not snacking consumers consider Kashi Tasty Little Crackers healthy and tasty in comparison to other brands.

Accepted Answer

A)  predictive model 
B)  perceptual map 
C)  product position 
D)  trend analysis 
E)  internal marketing audit 
A)  predictive model 
B)  perceptual map 
C)  product position 
D)  trend analysis 
E)  internal marketing audit

Exam 15: Segmenting and Targeting Markets

When the Sara Lee Bakery Group introduced Iron Kids Crustless bread (to save mothers the time and effort of slicing the crusts off sandwiches),it was using:

A marketing method that tracks interaction with customers to optimize customer satisfaction and long-term company profits is referred to as:

A(n)_____ strategy entails selecting one segment of a market to target and focuses on understanding the needs,motives,and satisfactions of the members of that segment,as well as on developing a highly specialized marketing mix.

Evenflo makes baby gates to keep toddlers away from stairs.What demographic segmentation variable will Evenflo use to identify its target market?

The 80/20 principle implies that the majority of all demand is due to a minority of the customers.

What are the four criteria that are necessary to define a market?

In 2008,Apple,Inc.introduced Mobile Me,which keeps everything on a consumer's Mac,PC,iPod,or iPhone on an online server Apple calls the "Cloud" so that it can be accessed at any time.Apple is catering to on-the-go consumers who use multiple platforms.This positioning strategy is based on the:

Clorox describes individuals who buy lots of cleaning products as heavy users.This is an example of how companies use benefit segmentation.

Deal$ stores sell a wide variety of low-priced merchandise: party supplies,cleaning products,toys,food,housewares,and health and beauty products for both men and women.Many items in the store are priced no higher than one dollar.Which type of demographic segmentation is Deal$ using?

A(n)_____ is a group of people or organizations for which an organization designs,implements,and maintains a marketing mix intended to meet the needs of that group,resulting in mutually satisfying exchanges.

What does the 80/20 principle propose?

What is the family life cycle (FLC)? Briefly describe the lifestyle and purchasing needs of consumers in the following FLC stages: (1)young single,(2)young married without children,(3)young married with children,(4)middle-aged married without children,and (5)older unmarried.

Which of the following is a potential disadvantage associated with an undifferentiated strategy?

All of the following are steps in the market segmenting process EXCEPT:

Until the 1990s,few firms practiced market segmentation.

The growth of mass marketing is an indication of the importance of implementing CRM.

Markets are always segmented by at least two variables.

A(n)_____ could help determine whether or not snacking consumers consider Kashi Tasty Little Crackers healthy and tasty in comparison to other brands.

An Overview of Marketing

Case Study Girl Scout Cookies

Strategic Planning for Competitive Advantage

Case Study Disney: The Happiest Brand on Earth

Ethics and Social Responsibility

Case Study Barclays Bank: Banking on Ethics

The Marketing Environment

Case Study Daimler/BMW: A New Breed of Driver

Developing a Global Vision

Case Study P&G Unilever Panasonic: The $2-a-Day Initiative

Consumer Decision Making

Case Study eBay: Creating Customers on the Move

Business Marketing

Case Study Pantone: This Year’s Color: Honeysuckle

Coke Zero

Marketing Research

Case Study Marriott International: A Marriott Site for Those on the Move

Product Concepts

Case Study Ford Motor Co.: One Ford; One Big Turnaround

Developing and Managing Products

Case Study Harmonix: Embrace Your Inner Rock Star

Services and Nonprofit Organization Marketing

Minute Clinic

Supply Chain Management

The U.S.Transportation Industry: Planning for a Potential Post-Recession Capacity Crunch

Marketing Channels and Retailing

Nordstrom's

Marketing Communications

HBO's True Blood

Advertising Public Relations and Sales Promotion

Burger King

Personal Selling and Sales Management

Ron Popeil

Social Media and Marketing

Facebook: Advertising’s Troubling Future

Pricing Concepts

Groupon vs.LivingSocial: Coupon Wars

Setting the Right Price

Black Friday Sales: Deal…or No Deal?

Telekom Austria Group: Sustainability to Increase Value

Mary Kay Inc: Taps into a Changing Demographic

Prestige Brands Inc-Transforming the Business

Cutco Cutlery Corporation: Direct to Consumer for Over 60 Years!

Lap Dance at Boston Blazers Lacrosse Game: Promotional Mistake or Creative Genius?

Will a New Reservation System Translate to Higher Prices for Travelers?

Concerns over Sustainability Result in Social Media Disaster for Nestlé

Four Loko Targets Young College Hedonists

McAfee Virus Protection Update Crashes Computers Worldwide

Microsoft Implies Distribution of Angry Birds on Windows Phone 7

Yellow Tail’s Tails-for-Tails Campaign

Concerns over Sustainability Result in Social Media Disaster for Nestlé

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