Question 1

All of the following are examples of increased customer value from organizational synergy except which?

Accepted Answer

A)  lower prices 
B)  increased brand awareness 
C)  more products 
D)  improved distribution 
E)  improved quality of existing products 
A)  lower prices 
B)  increased brand awareness 
C)  more products 
D)  improved distribution 
E)  improved quality of existing products

Question 2

One marketing action that can be taken to sell a single product or service to multiple market segments is to

Accepted Answer

A)  develop and produce another version of the product. 
B)  manufacture products that appeal to different markets. 
C)  develop separate promotional campaigns. 
D)  purchase another firm that has additional products that would appeal to multiple markets. 
E)  issue stock to fund additional research and development for new products. 
A)  develop and produce another version of the product. 
B)  manufacture products that appeal to different markets. 
C)  develop separate promotional campaigns. 
D)  purchase another firm that has additional products that would appeal to multiple markets. 
E)  issue stock to fund additional research and development for new products.

Question 3

Pairing side sleepers with firm pillows,back sleepers with medium pillows,and stomach sleepers with soft pillows would be done with a

Accepted Answer

A)  needs table. 
B)  cross-tabulation. 
C)  market-product grid. 
D)  growth-share matrix. 
E)  product differentiation table. 
A)  needs table. 
B)  cross-tabulation. 
C)  market-product grid. 
D)  growth-share matrix. 
E)  product differentiation table.

Question 4

The market segmentation strategy known as frequency marketing focuses on

Accepted Answer

A)  trial. 
B)  the average number of times a person in the target audience is exposed to an advertisement. 
C)  consumption preferences. 
D)  turnover. 
E)  usage rate. 
A)  trial. 
B)  the average number of times a person in the target audience is exposed to an advertisement. 
C)  consumption preferences. 
D)  turnover. 
E)  usage rate.

Question 5

The axes on a perceptual map are

Accepted Answer

A)  sales and profitability. 
B)  two important product attributes, ranging from high to low on that attribute. 
C)  market share and market growth rate. 
D)  product variety and profitability. 
E)  customer perceptions of the firm's product versus the brand of the firm's principal competitor. 
A)  sales and profitability. 
B)  two important product attributes, ranging from high to low on that attribute. 
C)  market share and market growth rate. 
D)  product variety and profitability. 
E)  customer perceptions of the firm's product versus the brand of the firm's principal competitor.

Question 6

A perceptual map enables a manager to see how __________ perceive competing products or brands,as well as the firm's own product or brand.

Accepted Answer

A)  stakeholders 
B)  competitors 
C)  independent rating organizations such as Consumer Reports 
D)  consumers 
E)  the CEO of the firm 
A)  stakeholders 
B)  competitors 
C)  independent rating organizations such as Consumer Reports 
D)  consumers 
E)  the CEO of the firm

Question 7

What is market segmentation and why is it important?

Accepted Answer

People have different needs and wants,ev

Question 8

Manufacturing a product only when there is an order from a customer is referred to as

Accepted Answer

A)  order customization. 
B)  a one product, one market segment strategy. 
C)  synergistic marketing. 
D)  build-to-order. 
E)  specialty customization. 
A)  order customization. 
B)  a one product, one market segment strategy. 
C)  synergistic marketing. 
D)  build-to-order. 
E)  specialty customization.

Question 9

By dividing its tennis racquet market into three categories,which it labels Performance,Recreational,and Junior tennis players,Prince Sports is using a marketing strategy called

Accepted Answer

A)  product differentiation. 
B)  product innovation. 
C)  market delineation. 
D)  market segmentation. 
E)  product groupings. 
A)  product differentiation. 
B)  product innovation. 
C)  market delineation. 
D)  market segmentation. 
E)  product groupings.

Question 10

What are the four steps to positioning a product with a perceptual map?

Accepted Answer

A key to positioning a product or brand

Question 11

At a Hallmark store you can find several lines of greeting cards,including Fresh Ink,Nature's Sketchbook,Shoebox,Maxine,Mahogany,and Tree of Life cards-all made by Hallmark for sale in its stores and intended to appeal to different target markets.The Mahogany line is designed to appeal to African Americans.This is an example of __________ segmentation.

Accepted Answer

A)  regional 
B)  lifestyle 
C)  demographic 
D)  geographic 
E)  psychographic 
A)  regional 
B)  lifestyle 
C)  demographic 
D)  geographic 
E)  psychographic

Question 12

Product repositioning refers to

Accepted Answer

A)  the place a product offering occupies in consumers' minds on important attributes. 
B)  using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets. 
C)  changing the place an offering occupies in consumers' minds relative to competitive products. 
D)  the practice of selling a firm's least successful product line and redirecting that revenue into a totally new product. 
E)  the competitive advantage of one product over another. 
A)  the place a product offering occupies in consumers' minds on important attributes. 
B)  using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets. 
C)  changing the place an offering occupies in consumers' minds relative to competitive products. 
D)  the practice of selling a firm's least successful product line and redirecting that revenue into a totally new product. 
E)  the competitive advantage of one product over another.

Question 13

Doris Lewis owns Lewis Edibles,Inc.,a company that makes Tongue Tinglin' BBQ Sauce.She wants to target local people who like the special blend of flavors found only in North Carolina barbecue sauce.In developing a marketing strategy to sell the sauce,Lewis decided to join Goodness Grows in North Carolina,a specialty food association that advertises local products and distributes them to local supermarkets and gourmet shops.Lewis has just

Accepted Answer

A)  formed a market segment using critical product features. 
B)  formed products to be sold into groups. 
C)  developed a market-product grid and estimating size of markets. 
D)  taken a marketing action to reach a target market segment. 
E)  formed prospective buyers into segments. 
A)  formed a market segment using critical product features. 
B)  formed products to be sold into groups. 
C)  developed a market-product grid and estimating size of markets. 
D)  taken a marketing action to reach a target market segment. 
E)  formed prospective buyers into segments.

Question 14

The primary focus of Zappos' market segmentation strategy is to sell

Accepted Answer

A)  shoes and other products to people who will buy them online and like to use mobile technology. 
B)  a wide selection of leather shoes and boots to high-end retailers. 
C)  all types of shoes, accessories, and clothing to department and fashion discount stores for reasonable prices. 
D)  Spanish novelties and accessories to organizations that typically resell them. 
E)  shoes in its own retail stores to those who prefer face-to-face interaction. 
A)  shoes and other products to people who will buy them online and like to use mobile technology. 
B)  a wide selection of leather shoes and boots to high-end retailers. 
C)  all types of shoes, accessories, and clothing to department and fashion discount stores for reasonable prices. 
D)  Spanish novelties and accessories to organizations that typically resell them. 
E)  shoes in its own retail stores to those who prefer face-to-face interaction.

Question 15

Custom Foot operates six retail locations.At first glance,none looks different from a typical boot store.But here the only boots on hand are display models.There is no inventory for sale and customers go home empty-handed,awaiting their orders.Customers browse the store,choosing style,color,and leather type,with about 100 displays to provide style guidelines.Custom Foot guarantees your boots will be ready within three weeks.This is an example of

Accepted Answer

A)  mass customization. 
B)  specialty customization. 
C)  virtual merchandising. 
D)  one product and multiple market segments. 
E)  multiple products and multiple market segments. 
A)  mass customization. 
B)  specialty customization. 
C)  virtual merchandising. 
D)  one product and multiple market segments. 
E)  multiple products and multiple market segments.

Question 16

Segmentation based on what product features are important to different customers is known as

Accepted Answer

A)  demographic segmentation. 
B)  behavioral segmentation. 
C)  psychographic segmentation. 
D)  geographic segmentation. 
E)  socioeconomic segmentation. 
A)  demographic segmentation. 
B)  behavioral segmentation. 
C)  psychographic segmentation. 
D)  geographic segmentation. 
E)  socioeconomic segmentation.

Question 17

If Wendy's customers are buying an eating experience,which of the following rationales would make the most sense if you were to group the products Wendy's sells?

Accepted Answer

A)  grouping by caloric intake 
B)  grouping by price 
C)  grouping by meal occasion 
D)  grouping by usage rate 
E)  grouping by level of uniqueness 
A)  grouping by caloric intake 
B)  grouping by price 
C)  grouping by meal occasion 
D)  grouping by usage rate 
E)  grouping by level of uniqueness

Question 18

Tony Hsieh,CEO of Zappos,offers $2,000 to anyone who

Accepted Answer

A)  identifies a completely new market segment with a product to match it. 
B)  finds a way of improving service to online customers. 
C)  takes the customer loyalty training class and decides to quit anyway. 
D)  finds a shoe-related product that Zappos does not already carry. 
E)  creates a humorous theme for one of the monthly company meetings. 
A)  identifies a completely new market segment with a product to match it. 
B)  finds a way of improving service to online customers. 
C)  takes the customer loyalty training class and decides to quit anyway. 
D)  finds a shoe-related product that Zappos does not already carry. 
E)  creates a humorous theme for one of the monthly company meetings.

Question 19

Product positioning refers to

Accepted Answer

A)  an outdated concept that assigns product value by association with social class. 
B)  the place a product offering occupies in consumers' minds on important attributes. 
C)  the competitive advantage of one product over another. 
D)  changing the place a product occupies in a consumer's mind relative to competitive products. 
E)  using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets. 
A)  an outdated concept that assigns product value by association with social class. 
B)  the place a product offering occupies in consumers' minds on important attributes. 
C)  the competitive advantage of one product over another. 
D)  changing the place a product occupies in a consumer's mind relative to competitive products. 
E)  using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets.

Question 20

A national car rental firm targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year.The company is using __________ segmentation.

Accepted Answer

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

All of the following are examples of increased customer value from organizational synergy except which?

One marketing action that can be taken to sell a single product or service to multiple market segments is to

Pairing side sleepers with firm pillows,back sleepers with medium pillows,and stomach sleepers with soft pillows would be done with a

The market segmentation strategy known as frequency marketing focuses on

The axes on a perceptual map are

A perceptual map enables a manager to see how __________ perceive competing products or brands,as well as the firm's own product or brand.

What is market segmentation and why is it important?

Manufacturing a product only when there is an order from a customer is referred to as

By dividing its tennis racquet market into three categories,which it labels Performance,Recreational,and Junior tennis players,Prince Sports is using a marketing strategy called

What are the four steps to positioning a product with a perceptual map?

Product repositioning refers to

The primary focus of Zappos' market segmentation strategy is to sell

Segmentation based on what product features are important to different customers is known as

If Wendy's customers are buying an eating experience,which of the following rationales would make the most sense if you were to group the products Wendy's sells?

Tony Hsieh,CEO of Zappos,offers $2,000 to anyone who

Product positioning refers to

A national car rental firm targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year.The company is using __________ segmentation.

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment,ethical Behavior,and Social Responsibility

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Developing New Products and Services

Managing Successful Products, services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Building an Effective Marketing Plan

Filters

Exam 8: Market Segmentation, targeting, and Positioning

All of the following are examples of increased customer value from organizational synergy except which?

One marketing action that can be taken to sell a single product or service to multiple market segments is to

Pairing side sleepers with firm pillows,back sleepers with medium pillows,and stomach sleepers with soft pillows would be done with a

The market segmentation strategy known as frequency marketing focuses on

The axes on a perceptual map are

A perceptual map enables a manager to see how __________ perceive competing products or brands,as well as the firm's own product or brand.

What is market segmentation and why is it important?

Manufacturing a product only when there is an order from a customer is referred to as

By dividing its tennis racquet market into three categories,which it labels Performance,Recreational,and Junior tennis players,Prince Sports is using a marketing strategy called

What are the four steps to positioning a product with a perceptual map?

Product repositioning refers to

The primary focus of Zappos' market segmentation strategy is to sell

Segmentation based on what product features are important to different customers is known as

If Wendy's customers are buying an eating experience,which of the following rationales would make the most sense if you were to group the products Wendy's sells?

Tony Hsieh,CEO of Zappos,offers $2,000 to anyone who

Product positioning refers to

A national car rental firm targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year.The company is using __________ segmentation.

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment,ethical Behavior,and Social Responsibility

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Developing New Products and Services

Managing Successful Products, services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Building an Effective Marketing Plan

Filters