Question 1

Explain the 80/20 rule.

Accepted Answer

Usage rate is sometimes referred to in t

Question 2

Which of the following is a disadvantage of employing a multiple products,multiple market segments strategy if not implemented well?

Accepted Answer

A)  higher sales but lower profits 
B)  reduced quality and higher prices 
C)  meeting customer needs but at the expense of higher prices 
D)  lower prices but with higher production costs 
E)  higher quality but lower prices 
A)  higher sales but lower profits 
B)  reduced quality and higher prices 
C)  meeting customer needs but at the expense of higher prices 
D)  lower prices but with higher production costs 
E)  higher quality but lower prices

Question 3

A rehabilitation center wants to target women in their 20s who have received some permanent disability as the result of a skiing accident.In terms of the criteria used for selecting a target segment,this market may

Accepted Answer

A)  have no expected growth. 
B)  not be compatible with the company's current resources. 
C)  not be worth targeting since its market size is very small. 
D)  not be readily accessible to the firm's marketing programs. 
E)  be relatively expensive to reach. 
A)  have no expected growth. 
B)  not be compatible with the company's current resources. 
C)  not be worth targeting since its market size is very small. 
D)  not be readily accessible to the firm's marketing programs. 
E)  be relatively expensive to reach.

Question 4

As an owner of a Wendy's fast-food restaurant located near a large urban university,you need to analyze your customers and determine which segmentation base and its associated variable(s)you will use to segment your target market.Which segmentation base and associated variable(s)should you use?

Accepted Answer

A)  psychographic: VALS and personality 
B)  demographic: gender and age 
C)  behavioral: students and nonstudents 
D)  geographic: city size and zip code 
E)  transportation mode: car, bike, public transportation, and none (walking) 
A)  psychographic: VALS and personality 
B)  demographic: gender and age 
C)  behavioral: students and nonstudents 
D)  geographic: city size and zip code 
E)  transportation mode: car, bike, public transportation, and none (walking)

Question 5

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Accepted Answer

A)  pay attention to marketing messages. 
B)  respond similarly to a marketing action. 
C)  be responsive to marketing research. 
D)  use the same payment methods. 
E)  comply with the organization's core values. 
A)  pay attention to marketing messages. 
B)  respond similarly to a marketing action. 
C)  be responsive to marketing research. 
D)  use the same payment methods. 
E)  comply with the organization's core values.

Question 6

Lands' End will custom-fit a Marinac jacket and make it with additional features such as thumb loops,underarm ventilation slits,and a key clip when you order from LandsEnd.com.This is an example of

Accepted Answer

A)  family branding. 
B)  mass customization. 
C)  "Tiffany/Walmart" marketing. 
D)  market melding. 
E)  specialty customization. 
A)  family branding. 
B)  mass customization. 
C)  "Tiffany/Walmart" marketing. 
D)  market melding. 
E)  specialty customization.

Question 7

A marketing manager should develop segments for a market that meet five principal criteria.List these important factors in forming market segments.

Accepted Answer

The five criteria are: (1)simplicity and

Question 8

Explain the difference between mass customization and build-to-order.

Accepted Answer

Mass customization involves tailoring go

Question 9

Which of the following statements demonstrate the formation of a segment based on household size?

Accepted Answer

A)  Campbell's makes a spicier nacho cheese sauce for its distributors in Texas than it does in Maine. 
B)  GE built a smaller microwave oven to hang under kitchen cabinets. 
C)  Del Monte offers a line of canned fruit with no added sugar or artificial sweeteners. 
D)  A fast-food hamburger restaurant is only open for breakfast on weekdays and Saturdays but not Sundays. 
E)  A gourmet grocer advertises its services on a small-audience classical music station even though there is a much larger-audience rock station in the area. 
A)  Campbell's makes a spicier nacho cheese sauce for its distributors in Texas than it does in Maine. 
B)  GE built a smaller microwave oven to hang under kitchen cabinets. 
C)  Del Monte offers a line of canned fruit with no added sugar or artificial sweeteners. 
D)  A fast-food hamburger restaurant is only open for breakfast on weekdays and Saturdays but not Sundays. 
E)  A gourmet grocer advertises its services on a small-audience classical music station even though there is a much larger-audience rock station in the area.

Question 10

"For upscale American families who desire a carefree driving experience,Volvo is a premium-priced automobile that offers the utmost in safety and dependability" is a __________ statement for Volvo in North America.

Accepted Answer

A)  perception 
B)  positioning 
C)  market-product 
D)  vision 
E)  differentiation 
A)  perception 
B)  positioning 
C)  market-product 
D)  vision 
E)  differentiation

Question 11

A marketing manager goes through several steps to put a market segmentation plan into effect.This includes being able to form market segments and then __________ without encountering excessive costs.

Accepted Answer

A)  eliminate potential nonbuyers 
B)  identify segmentation variables 
C)  select the market segment(s) to target 
D)  redirect their purchase behaviors 
E)  ignore any and all similarities 
A)  eliminate potential nonbuyers 
B)  identify segmentation variables 
C)  select the market segment(s) to target 
D)  redirect their purchase behaviors 
E)  ignore any and all similarities

Question 12

Figure 8-8  
-Figure 8-8 is a depiction of a __________ for beverages in the minds of adults.

Accepted Answer

A)  hierarchy of needs 
B)  perceptual map 
C)  marketing matrix 
D)  growth-share matrix 
E)  perception matrix 
A)  hierarchy of needs 
B)  perceptual map 
C)  marketing matrix 
D)  growth-share matrix 
E)  perception matrix

Question 13

When compared to a multiple products,multiple market segments strategy,a one product,multiple market segment strategy

Accepted Answer

A)  is a much more effective means of meeting consumers' individual needs. 
B)  creates greater savings in production costs. 
C)  is a more effective way of meeting organizational objectives. 
D)  has significantly higher distribution costs. 
E)  is more profitable since a firm can charge the new segments higher prices without changing the product. 
A)  is a much more effective means of meeting consumers' individual needs. 
B)  creates greater savings in production costs. 
C)  is a more effective way of meeting organizational objectives. 
D)  has significantly higher distribution costs. 
E)  is more profitable since a firm can charge the new segments higher prices without changing the product.

Question 14

One approach to positioning a new product in a market is __________ positioning,which involves competing directly with competitors on similar product attributes in the same target market.

Accepted Answer

A)  perceptual 
B)  head-to-head 
C)  psychological 
D)  differentiation 
E)  market 
A)  perceptual 
B)  head-to-head 
C)  psychological 
D)  differentiation 
E)  market

Question 15

What is product differentiation?
 How does it relate to market segmentation?
 How does it potentially improve a firm's revenues?

Accepted Answer

Product differentiation involves a firm

Question 16

The 80/20 rule is most closely related to which basis of segmentation?

Accepted Answer

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

Question 17

Figure 8-6  
-Figure 8-6 shows the market-product grid for a Wendy's restaurant next to a large urban university campus.Assume a large market (shown by a 3)is three times the size of a small market (shown by a 1)and a medium market (shown by a 2)is twice the size of a small market.The meal occasion (product grouping)that comprises the largest product grouping is

Accepted Answer

A)  breakfast. 
B)  lunch. 
C)  between-meal snack. 
D)  dinner. 
E)  after-dinner snack. 
A)  breakfast. 
B)  lunch. 
C)  between-meal snack. 
D)  dinner. 
E)  after-dinner snack.

Question 18

Why would an organization produce a single product or service and then attempt to sell it to two or more market segments?

Accepted Answer

An organization would produce a single p

Question 19

Procter & Gamble (P&G)decided to skip a generation of consumers when it began to market Old Spice deodorant.The target market consists of men aged 18 to 34 years old (Generation Y)who don't remember the Old Spice brand sold to their grandfathers (pre-baby boomer)many years ago.P&G is using which type of segmentation variable?

Accepted Answer

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

Question 20

Region and city size are both variables used to employ __________ segmentation.

Accepted Answer

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

Explain the 80/20 rule.

Which of the following is a disadvantage of employing a multiple products,multiple market segments strategy if not implemented well?

A rehabilitation center wants to target women in their 20s who have received some permanent disability as the result of a skiing accident.In terms of the criteria used for selecting a target segment,this market may

As an owner of a Wendy's fast-food restaurant located near a large urban university,you need to analyze your customers and determine which segmentation base and its associated variable(s)you will use to segment your target market.Which segmentation base and associated variable(s)should you use?

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Lands' End will custom-fit a Marinac jacket and make it with additional features such as thumb loops,underarm ventilation slits,and a key clip when you order from LandsEnd.com.This is an example of

A marketing manager should develop segments for a market that meet five principal criteria.List these important factors in forming market segments.

Explain the difference between mass customization and build-to-order.

Which of the following statements demonstrate the formation of a segment based on household size?

"For upscale American families who desire a carefree driving experience,Volvo is a premium-priced automobile that offers the utmost in safety and dependability" is a __________ statement for Volvo in North America.

A marketing manager goes through several steps to put a market segmentation plan into effect.This includes being able to form market segments and then __________ without encountering excessive costs.

Figure 8-8 -Figure 8-8 is a depiction of a __________ for beverages in the minds of adults.

When compared to a multiple products,multiple market segments strategy,a one product,multiple market segment strategy

One approach to positioning a new product in a market is __________ positioning,which involves competing directly with competitors on similar product attributes in the same target market.

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

The 80/20 rule is most closely related to which basis of segmentation?

Why would an organization produce a single product or service and then attempt to sell it to two or more market segments?

Region and city size are both variables used to employ __________ 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

Explain the 80/20 rule.

Which of the following is a disadvantage of employing a multiple products,multiple market segments strategy if not implemented well?

A rehabilitation center wants to target women in their 20s who have received some permanent disability as the result of a skiing accident.In terms of the criteria used for selecting a target segment,this market may

As an owner of a Wendy's fast-food restaurant located near a large urban university,you need to analyze your customers and determine which segmentation base and its associated variable(s)you will use to segment your target market.Which segmentation base and associated variable(s)should you use?

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Lands' End will custom-fit a Marinac jacket and make it with additional features such as thumb loops,underarm ventilation slits,and a key clip when you order from LandsEnd.com.This is an example of

A marketing manager should develop segments for a market that meet five principal criteria.List these important factors in forming market segments.

Explain the difference between mass customization and build-to-order.

Which of the following statements demonstrate the formation of a segment based on household size?

"For upscale American families who desire a carefree driving experience,Volvo is a premium-priced automobile that offers the utmost in safety and dependability" is a __________ statement for Volvo in North America.

A marketing manager goes through several steps to put a market segmentation plan into effect.This includes being able to form market segments and then __________ without encountering excessive costs.

Figure 8-8 -Figure 8-8 is a depiction of a __________ for beverages in the minds of adults.

When compared to a multiple products,multiple market segments strategy,a one product,multiple market segment strategy

One approach to positioning a new product in a market is __________ positioning,which involves competing directly with competitors on similar product attributes in the same target market.

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

The 80/20 rule is most closely related to which basis of segmentation?

Why would an organization produce a single product or service and then attempt to sell it to two or more market segments?

Region and city size are both variables used to employ __________ 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