Question 1

The first step marketers should take when deciding how best to position their product is to

Accepted Answer

A) analyze competitors' positions. 
B) define the product attributes that make it unique. 
C) evaluate consumer feedback. 
D) determine what market segments will be interested in the product. 
E) clearly define its competitive advantagE. 
A) analyze competitors' positions. 
B) define the product attributes that make it unique. 
C) evaluate consumer feedback. 
D) determine what market segments will be interested in the product. 
E) clearly define its competitive advantagE.

Question 2

Global segmentation usually results in market segments made up of young people,those that have money to spend,or those with access to the Internet.

Accepted Answer

A) True 
 B)False

Question 3

As it relates to marketing,segmenting and positioning are essentially the same thing.

Accepted Answer

A) True 
 B)False

Question 4

The potential savings in developing and marketing the product is the major advantage of

Accepted Answer

A) a niche marketing strategy. 
B) an undifferentiated targeting strategy. 
C) a geographic targeting strategy. 
D) a specialized marketing strategy. 
E) a differentiated targeting strategy. 
A) a niche marketing strategy. 
B) an undifferentiated targeting strategy. 
C) a geographic targeting strategy. 
D) a specialized marketing strategy. 
E) a differentiated targeting strategy.

Question 5

The 80/20 rule is a theory that suggests that

Accepted Answer

A) 80 percent of a firm's profits is generated from 20 percent of its product line. 
B) 20 percent of the total demand for products comes from 80 percent of the target market. 
C) 20 percent of heavy users account for 80 percent of the total demand. 
D) 20 percent of a firm's products are never marketed to 80 percent of consumers. 
E) 80 percent of a firm's products are marketed to only 20 percent of the population. 
A) 80 percent of a firm's profits is generated from 20 percent of its product line. 
B) 20 percent of the total demand for products comes from 80 percent of the target market. 
C) 20 percent of heavy users account for 80 percent of the total demand. 
D) 20 percent of a firm's products are never marketed to 80 percent of consumers. 
E) 80 percent of a firm's products are marketed to only 20 percent of the population.

Question 6

Market segmentation refers to

Accepted Answer

A) dividing a larger market into smaller groups based on meaningfully shared characteristics. 
B) marketing a product so that each and every consumer can get value from it. 
C) redesigning or repositioning a product so it meets the needs of a target market. 
D) having regional sales forces that can market a product according to geographic area. 
E) taking an overall marketing plan and dividing it into smaller campaigns based on each product. 
A) dividing a larger market into smaller groups based on meaningfully shared characteristics. 
B) marketing a product so that each and every consumer can get value from it. 
C) redesigning or repositioning a product so it meets the needs of a target market. 
D) having regional sales forces that can market a product according to geographic area. 
E) taking an overall marketing plan and dividing it into smaller campaigns based on each product.

Question 7

Market segmentation helps firms in three ways: by helping to define the needs and wants of the customers most interested in buying the firm's products,by helping to design the specific marketing strategies for the specific segments,and by helping firms decide to allocate their marketing resources in a way that maximizes ______.

Accepted Answer

The answer of Market segmentation helps firms in three ways:...

Question 8

Which of the following is not characteristic of gathering the information needed to engage in international market segmentation?

Accepted Answer

A) Social media sites and the Internet have made it possible to collect all the information needed to segment international markets. 
B) The information needed to segment international markets may be hard to come by. 
C) Obtaining the information required to segment international markets is both costly and difficult. 
D) Not all countries collect or classify their data in the same way. 
E) It is practically impossible to compare the data received across nations in order to form a segment. 
A) Social media sites and the Internet have made it possible to collect all the information needed to segment international markets. 
B) The information needed to segment international markets may be hard to come by. 
C) Obtaining the information required to segment international markets is both costly and difficult. 
D) Not all countries collect or classify their data in the same way. 
E) It is practically impossible to compare the data received across nations in order to form a segment.

Question 9

According to your text,when selecting a target market,firms should consider three important factors: growth potential,level of competition,and

Accepted Answer

A) cultural factors. 
B) economic conditions. 
C) strategic fit. 
D) proximity to the market. 
E) profitability timeframE. 
A) cultural factors. 
B) economic conditions. 
C) strategic fit. 
D) proximity to the market. 
E) profitability timeframE.

Question 10

When a firm is reasonably certain that its marketing mix can inform consumers about the product,how it adds value to the consumer,and ultimately how to purchase it,then the firm rates favorably on which market segment criteria?

Accepted Answer

A) differentiable 
B) actionable 
C) substantial 
D) accessible 
E) measurable 
A) differentiable 
B) actionable 
C) substantial 
D) accessible 
E) measurable

Question 11

A successful positioning statement should include the competitive advantages of the product.

Accepted Answer

A) True 
 B)False

Question 12

According to your text,what tool provides an excellent framework to determine if a firm will be successful targeting a specific segment?

Accepted Answer

A) a segmentation analysis 
B) Maslow's hierarchy of needs 
C) a SWOT analysis 
D) a perceptual map 
E) a positioning map 
A) a segmentation analysis 
B) Maslow's hierarchy of needs 
C) a SWOT analysis 
D) a perceptual map 
E) a positioning map

Question 13

A _____ _____ is a competitive analysis tool that creates a visual picture of where products are located in consumers' minds.

Accepted Answer

The answer of A _____ _____ is a competitive analysis...

Question 14

The VALS framework classifies adults into eight psychographic groups: Innovators,Thinkers,Believers,Achievers,Strivers,Experiencers,Makers,and

Accepted Answer

A) Skeptics. 
B) Survivors. 
C) Seekers. 
D) Creators. 
E) Fighters. 
A) Skeptics. 
B) Survivors. 
C) Seekers. 
D) Creators. 
E) Fighters.

Question 15

When marketers segment based on psychographics,the market is divided into groups according to the reason the consumer made the purchase.

Accepted Answer

A) True 
 B)False

Question 16

Repositioning refers to re-segmenting a target market that failed to produce enough buyers for a product.

Accepted Answer

A) True 
 B)False

Question 17

The VALS framework identifies three primary motivations: ideals,self-expression,and _______.

Accepted Answer

The answer of The VALS framework identifies three primary motivations:...

Question 18

Firms should consider three important factors during the targeting process: growth potential,level of competition and strategic fit.

Accepted Answer

A) True 
 B)False

Question 19

The process of dividing a larger market into smaller groups based on meaningfully shared characteristics is called positioning.

Accepted Answer

A) True 
 B)False

Question 20

Quentin is a realtor selling high-end homes priced over $750,000.Before showing a property to prospective clients,Quentin makes sure they are pre-qualified for a home loan commensurate with the price of the house.This pre-qualification is based mainly on the client's income,which is what type of segmentation variable?

Accepted Answer

A) psychographic 
B) financial 
C) geographic 
D) behavioral 
E) demographic 
A) psychographic 
B) financial 
C) geographic 
D) behavioral 
E) demographic

The first step marketers should take when deciding how best to position their product is to

Global segmentation usually results in market segments made up of young people,those that have money to spend,or those with access to the Internet.

As it relates to marketing,segmenting and positioning are essentially the same thing.

The potential savings in developing and marketing the product is the major advantage of

The 80/20 rule is a theory that suggests that

Market segmentation refers to

Which of the following is not characteristic of gathering the information needed to engage in international market segmentation?

According to your text,when selecting a target market,firms should consider three important factors: growth potential,level of competition,and

When a firm is reasonably certain that its marketing mix can inform consumers about the product,how it adds value to the consumer,and ultimately how to purchase it,then the firm rates favorably on which market segment criteria?

A successful positioning statement should include the competitive advantages of the product.

According to your text,what tool provides an excellent framework to determine if a firm will be successful targeting a specific segment?

A _ _ is a competitive analysis tool that creates a visual picture of where products are located in consumers' minds.

The VALS framework classifies adults into eight psychographic groups: Innovators,Thinkers,Believers,Achievers,Strivers,Experiencers,Makers,and

When marketers segment based on psychographics,the market is divided into groups according to the reason the consumer made the purchase.

Repositioning refers to re-segmenting a target market that failed to produce enough buyers for a product.

The VALS framework identifies three primary motivations: ideals,self-expression,and _______.

Firms should consider three important factors during the targeting process: growth potential,level of competition and strategic fit.

The process of dividing a larger market into smaller groups based on meaningfully shared characteristics is called positioning.

Why Marketing Matters to You

Strategic Planning

The Global Environment

Consumer Behavior

Marketing Research

Product Development

Promotional Strategies

Supply Chain and Logistics Management

Pricing

Retailing

Personal Selling

Digital Social Media Marketing

Customer Relationship Management

Branding

Social Responsibility and Sustainability

Filters

Exam 7: Segmentation, Targeting, and Positioning

The first step marketers should take when deciding how best to position their product is to

Global segmentation usually results in market segments made up of young people,those that have money to spend,or those with access to the Internet.

As it relates to marketing,segmenting and positioning are essentially the same thing.

The potential savings in developing and marketing the product is the major advantage of

The 80/20 rule is a theory that suggests that

Market segmentation refers to

Which of the following is not characteristic of gathering the information needed to engage in international market segmentation?

According to your text,when selecting a target market,firms should consider three important factors: growth potential,level of competition,and

When a firm is reasonably certain that its marketing mix can inform consumers about the product,how it adds value to the consumer,and ultimately how to purchase it,then the firm rates favorably on which market segment criteria?

A successful positioning statement should include the competitive advantages of the product.

According to your text,what tool provides an excellent framework to determine if a firm will be successful targeting a specific segment?

A _____ _____ is a competitive analysis tool that creates a visual picture of where products are located in consumers' minds.

The VALS framework classifies adults into eight psychographic groups: Innovators,Thinkers,Believers,Achievers,Strivers,Experiencers,Makers,and

When marketers segment based on psychographics,the market is divided into groups according to the reason the consumer made the purchase.

Repositioning refers to re-segmenting a target market that failed to produce enough buyers for a product.

The VALS framework identifies three primary motivations: ideals,self-expression,and _______.

Firms should consider three important factors during the targeting process: growth potential,level of competition and strategic fit.

The process of dividing a larger market into smaller groups based on meaningfully shared characteristics is called positioning.

Why Marketing Matters to You

Strategic Planning

The Global Environment

Consumer Behavior

Marketing Research

Product Development

Promotional Strategies

Supply Chain and Logistics Management

Pricing

Retailing

Personal Selling

Digital Social Media Marketing

Customer Relationship Management

Branding

Social Responsibility and Sustainability

Filters

A _ _ is a competitive analysis tool that creates a visual picture of where products are located in consumers' minds.