Question 1

Which of the following is a criterion used for selecting a target segment?

Accepted Answer

A) potential for increased profit 
B) similarity of needs of potential buyers within a segment 
C) difference of needs of buyers among segments 
D) potential of a marketing action to reach a segment 
E) compatibility with the organization's objectives and resources 
A) potential for increased profit 
B) similarity of needs of potential buyers within a segment 
C) difference of needs of buyers among segments 
D) potential of a marketing action to reach a segment 
E) compatibility with the organization's objectives and resources

Question 2

Universal Concerts is planning on bringing a series of concerts to Canada next year.In general, Western Canadians much prefer country music, yet in Eastern Canada a country music event is very likely to have lots of empty seats.If they can have only one venue, Universal Concerts should segment its Canadian market according to __________, if it hopes to have a sold-out concert.

Accepted Answer

A) geographic characteristics 
B) demographic characteristics 
C) socioeconomic characteristics 
D) social class 
E) psychographics 
A) geographic characteristics 
B) demographic characteristics 
C) socioeconomic characteristics 
D) social class 
E) psychographics

Question 3

People who might become users of the type of good or service your firm sells are referred to as

Accepted Answer

A) leads. 
B) prospects. 
C) non-prospects. 
D) ultimate consumers. 
E) undefined prospects. 
A) leads. 
B) prospects. 
C) non-prospects. 
D) ultimate consumers. 
E) undefined prospects.

Question 4

A perceptual map can be used to identify a firm's product in terms of how closely it fits the "ideal" and where it fits in relationship to competitors.The map is based on perceptions of

Accepted Answer

A) intermediaries. 
B) competitors. 
C) consumers. 
D) competitors, consumers, and the firm itself. 
E) independent rating organizations such as Consumer Reports. 
A) intermediaries. 
B) competitors. 
C) consumers. 
D) competitors, consumers, and the firm itself. 
E) independent rating organizations such as Consumer Reports.

Question 5

Figure 9-6 above 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) Boston consultant group matrix 
E) Above-, at-, or below-market pricing matrix 
A) Hierarchy of needs 
B) Perceptual map 
C) Marketing matrix 
D) Boston consultant group matrix 
E) Above-, at-, or below-market pricing matrix

Question 6

In the sneaker market, Reebok and Nike practice __________ positioning since both manufacturers compete in the same target market with similar product attributes.

Accepted Answer

A) parallel market 
B) distinction 
C) differentiation 
D) head-to-head 
E) confrontational 
A) parallel market 
B) distinction 
C) differentiation 
D) head-to-head 
E) confrontational

Question 7

The second step in segmenting and targeting markets is to

Accepted Answer

A) group potential buyers into segments. 
B) group products to be sold into categories. 
C) develop a market-product grid and estimate size of the overall market. 
D) select target markets. 
E) take marketing actions to reach markets. 
A) group potential buyers into segments. 
B) group products to be sold into categories. 
C) develop a market-product grid and estimate size of the overall market. 
D) select target markets. 
E) take marketing actions to reach markets.

Question 8

FIGURE 9-6  
-The perceptual map in Figure 9-6 above shows how various drinks are seen in the minds of adult consumers.Suppose a coffee producer wants to increase sales.Its advertising agency recommends that it run ads showing that coffee is healthier than one or more competitive drinks shown in the figure.In the ads, coffee should be compared with

Accepted Answer

A) skinny lattes. 
B) fruit-flavored drinks. 
C) sugared soft drinks. 
D) fruit-flavored drinks and sugared soft drinks. 
E) both sugared soft drinks and skinny lattes. 
A) skinny lattes. 
B) fruit-flavored drinks. 
C) sugared soft drinks. 
D) fruit-flavored drinks and sugared soft drinks. 
E) both sugared soft drinks and skinny lattes.

Question 9

After establishing the markets and product groupings on a market-product grid the next step is to

Accepted Answer

A) fill in the appropriate cells with precise statistical data from primary and secondary sources. 
B) make intelligent "guesstimates" of market size, for example, using a simple scale from zero to three (no market, a small market, a medium market, and large market). 
C) total the vertical columns to identify the greatest marketing synergies and efficiencies. 
D) total the horizontal columns to identify greatest operations/production synergies and efficiencies. 
E) identify the simplest marketing action to take and select the corresponding target market. 
A) fill in the appropriate cells with precise statistical data from primary and secondary sources. 
B) make intelligent "guesstimates" of market size, for example, using a simple scale from zero to three (no market, a small market, a medium market, and large market). 
C) total the vertical columns to identify the greatest marketing synergies and efficiencies. 
D) total the horizontal columns to identify greatest operations/production synergies and efficiencies. 
E) identify the simplest marketing action to take and select the corresponding target market.

Question 10

When new products or a new chain steals customers and sales from older existing ones it is referred to as

Accepted Answer

A) cannibalization. 
B) amortization. 
C) product appropriation. 
D) profit pilfering. 
E) profit implosion. 
A) cannibalization. 
B) amortization. 
C) product appropriation. 
D) profit pilfering. 
E) profit implosion.

Question 11

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

Accepted Answer

A) consumer differentiation. 
B) psychographics. 
C) market segmentation. 
D) market delineation. 
E) aggregation marketing. 
A) consumer differentiation. 
B) psychographics. 
C) market segmentation. 
D) market delineation. 
E) aggregation marketing.

Question 12

The 80/20 rule is most closely related to which consumer segmentation variable?

Accepted Answer

A) geographic 
B) psychographic 
C) benefits sought 
D) age 
E) usage 
A) geographic 
B) psychographic 
C) benefits sought 
D) age 
E) usage

Question 13

A market-product grid is a framework to relate the market segments of potential buyers to

Accepted Answer

A) estimated expenses for products sold. 
B) total anticipated revenue. 
C) total anticipated profit. 
D) market share of the closest competitor. 
E) products offered or potential marketing actions by an organization. 
A) estimated expenses for products sold. 
B) total anticipated revenue. 
C) total anticipated profit. 
D) market share of the closest competitor. 
E) products offered or potential marketing actions by an organization.

Question 14

Marketing synergies often come at the expense of product synergies because

Accepted Answer

A) product synergies are more effective for penetrating a market rather than creating a new one. 
B) a multiple market segment would usually require multiple products. 
C) it is easier to change a product than to completely build a new marketing plan. 
D) a single customer segment will likely require a variety of products. 
E) no company can afford to do both at the same time. 
A) product synergies are more effective for penetrating a market rather than creating a new one. 
B) a multiple market segment would usually require multiple products. 
C) it is easier to change a product than to completely build a new marketing plan. 
D) a single customer segment will likely require a variety of products. 
E) no company can afford to do both at the same time.

Question 15

Define what is meant by the concept of the "80/20 rule".

Accepted Answer

Usage rate is sometimes referred to in t

Question 16

Magnavox sells its target markets many different types of TVs from flat screens to a 20" combination TV/DVD.The larger sets can be outfitted with surround sound at a higher price than the smaller sets.The small set is much less expensive and allows the viewer to watch a DVD without extra equipment.Magnavox is using which type of segmentation variable in this example?

Accepted Answer

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

Question 17

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

Accepted Answer

A) a listing of all prospective brands and products 
B) managerial judgments about how consumers perceive products 
C) rank order of the ratings of a existing brand's preference relative to its competitors 
D) judgments of existing products or brands with respect to important attributes 
E) detailed explanations of why consumers make the choices they do 
A) a listing of all prospective brands and products 
B) managerial judgments about how consumers perceive products 
C) rank order of the ratings of a existing brand's preference relative to its competitors 
D) judgments of existing products or brands with respect to important attributes 
E) detailed explanations of why consumers make the choices they do

Question 18

FIGURE 9-2  
-The Sporting News Baseball Yearbook uses 16 different covers featuring a baseball star from each of its regions in the United States.Four samples are shown in Figure 9-2 above.This is a great example of a

Accepted Answer

A) interest-based segmentation. 
B) segmenting organizational markets. 
C) one product and multiple market segments. 
D) multiple products and multiple market segments. 
E) segments of one, or mass customization. 
A) interest-based segmentation. 
B) segmenting organizational markets. 
C) one product and multiple market segments. 
D) multiple products and multiple market segments. 
E) segments of one, or mass customization.

Question 19

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

Accepted Answer

A) a listing of all prospective brands and products 
B) ratings of an "ideal" product's or brand's attributes 
C) managerial judgments about how consumers perceive products 
D) rank order of the ratings of a existing brand's preference relative to its competitors 
E) detailed explanations of why consumers make the choices they do 
A) a listing of all prospective brands and products 
B) ratings of an "ideal" product's or brand's attributes 
C) managerial judgments about how consumers perceive products 
D) rank order of the ratings of a existing brand's preference relative to its competitors 
E) detailed explanations of why consumers make the choices they do

Question 20

Criteria for forming segments involve both similarities and differences.The similarities must be ____________ a segment, and the differences must be __________ segments.

Accepted Answer

A) between; among 
B) throughout; absent in 
C) within; among 
D) absent in; throughout 
E) among; across 
A) between; among 
B) throughout; absent in 
C) within; among 
D) absent in; throughout 
E) among; across

Which of the following is a criterion used for selecting a target segment?

People who might become users of the type of good or service your firm sells are referred to as

A perceptual map can be used to identify a firm's product in terms of how closely it fits the "ideal" and where it fits in relationship to competitors.The map is based on perceptions of

Figure 9-6 above is a depiction of a _________ for beverages in the minds of adults.

In the sneaker market, Reebok and Nike practice __________ positioning since both manufacturers compete in the same target market with similar product attributes.

The second step in segmenting and targeting markets is to

After establishing the markets and product groupings on a market-product grid the next step is to

When new products or a new chain steals customers and sales from older existing ones it is referred to as

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

The 80/20 rule is most closely related to which consumer segmentation variable?

A market-product grid is a framework to relate the market segments of potential buyers to

Marketing synergies often come at the expense of product synergies because

Define what is meant by the concept of the "80/20 rule".

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

FIGURE 9-2 -The Sporting News Baseball Yearbook uses 16 different covers featuring a baseball star from each of its regions in the United States.Four samples are shown in Figure 9-2 above.This is a great example of a

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

Criteria for forming segments involve both similarities and differences.The similarities must be __ a segment, and the differences must be segments.

Creating Customer Relationships and Value Through Marketing

Developing Successful Marketing and Organizational Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility in Marketing

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

Personal Selling and Sales Management

Building an Effective Marketing Plan

Filters

Exam 9: Market Segmentation, Targeting, and Positioning

Which of the following is a criterion used for selecting a target segment?

People who might become users of the type of good or service your firm sells are referred to as

A perceptual map can be used to identify a firm's product in terms of how closely it fits the "ideal" and where it fits in relationship to competitors.The map is based on perceptions of

Figure 9-6 above is a depiction of a _________ for beverages in the minds of adults.

In the sneaker market, Reebok and Nike practice __________ positioning since both manufacturers compete in the same target market with similar product attributes.

The second step in segmenting and targeting markets is to

After establishing the markets and product groupings on a market-product grid the next step is to

When new products or a new chain steals customers and sales from older existing ones it is referred to as

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

The 80/20 rule is most closely related to which consumer segmentation variable?

A market-product grid is a framework to relate the market segments of potential buyers to

Marketing synergies often come at the expense of product synergies because

Define what is meant by the concept of the "80/20 rule".

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

FIGURE 9-2 -The Sporting News Baseball Yearbook uses 16 different covers featuring a baseball star from each of its regions in the United States.Four samples are shown in Figure 9-2 above.This is a great example of a

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

Criteria for forming segments involve both similarities and differences.The similarities must be ____________ a segment, and the differences must be __________ segments.

Creating Customer Relationships and Value Through Marketing

Developing Successful Marketing and Organizational Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility in Marketing

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

Personal Selling and Sales Management

Building an Effective Marketing Plan

Filters

Criteria for forming segments involve both similarities and differences.The similarities must be __ a segment, and the differences must be segments.