Question 1

The first step in segmenting and targeting markets that links customer needs to marketing actions 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 target 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 target markets.

Question 2

All of the following are criterion used for selecting target market segments EXCEPT:

Accepted Answer

A) compatibility with the organization's objectives and resources. 
B) market size. 
C) simplicity and cost of assigning potential buyers to segments. 
D) competitive position. 
E) cost of reaching the segment. 
A) compatibility with the organization's objectives and resources. 
B) market size. 
C) simplicity and cost of assigning potential buyers to segments. 
D) competitive position. 
E) cost of reaching the segment.

Question 3

When expenses are greater than the potential increased sales from market segmentation, a firm should

Accepted Answer

A) not consider market segmentation at this time. 
B) combine departments within the company to make the process more streamlined. 
C) reduce production costs or increase prices to facilitate the segmentation process. 
D) seek alternate channels of distribution, including Internet sales. 
E) discontinue manufacturing any products that are not in the mature stage of their product life cycle 
A) not consider market segmentation at this time. 
B) combine departments within the company to make the process more streamlined. 
C) reduce production costs or increase prices to facilitate the segmentation process. 
D) seek alternate channels of distribution, including Internet sales. 
E) discontinue manufacturing any products that are not in the mature stage of their product life cycle

Question 4

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 5

-In Figure 8-1 above, C represents which stage of the market segmentation process?

Accepted Answer

A) link needs to actions 
B) identify market needs 
C) establish a marketing protocol 
D) execute marketing program actions 
E) segment and select the target markets 
A) link needs to actions 
B) identify market needs 
C) establish a marketing protocol 
D) execute marketing program actions 
E) segment and select the target markets

Question 6

Four general categories used to segment consumer markets are geographic segmentation, demographic segmentation, __________, and behavioral segmentation.

Accepted Answer

A) supplier segmentation 
B) demand segmentation 
C) regional segmentation 
D) psychographic segmentation 
E) product segmentation 
A) supplier segmentation 
B) demand segmentation 
C) regional segmentation 
D) psychographic segmentation 
E) product segmentation

Question 7

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

Accepted Answer

A) demographic clusters. 
B) organizational buyers. 
C) ultimate consumers. 
D) market segments. 
E) qualified prospects. 
A) demographic clusters. 
B) organizational buyers. 
C) ultimate consumers. 
D) market segments. 
E) qualified prospects.

Question 8

The axes on a perceptual map are

Accepted Answer

A) sales and profitability. 
B) two 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 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 9

Building open and honest relationships with communication is an example of Zappos' __________.

Accepted Answer

A) profile for its target market 
B) best practices being adapted from its new owner, Amazon.com 
C) ten core values for Zappos' culture 
D) qualities required of Zappos' suppliers 
E) qualities required of Zappos' retailers 
A) profile for its target market 
B) best practices being adapted from its new owner, Amazon.com 
C) ten core values for Zappos' culture 
D) qualities required of Zappos' suppliers 
E) qualities required of Zappos' retailers

Question 10

Samsung sells a variety of TVs, from simple and small ones to large smart TVs with Internet connectivity and 3D technology. Customers prefer different features, so Samsung uses which type of segmentation variable based on their viewing preferences?

Accepted Answer

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

Question 11

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 an

Question 12

A graph displaying consumers' perceptions of product attributes in two dimensions is referred to as a

Accepted Answer

A) perceptual map. 
B) perception matrix. 
C) growth-share matrix. 
D) market-product grid. 
E) product differentiation chart. 
A) perceptual map. 
B) perception matrix. 
C) growth-share matrix. 
D) market-product grid. 
E) product differentiation chart.

Question 13

Variables that are based on some objective physical (gender, ethnicity), measurable (age, income), or other classification attribute (occupation) of prospective customers are used in which segmentation base?

Accepted Answer

A) personality 
B) usage 
C) needs 
D) demographic 
E) behavioral 
A) personality 
B) usage 
C) needs 
D) demographic 
E) behavioral

Question 14

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the following question:

Accepted Answer

A) "Is this product useful on a global scale?" 
B) "Is it possible to reposition this product?" 
C) "Is there too much competition for this product?" 
D) "Is the market loyal to the product?" 
E) "Would segmentation be worth doing and is it possible?" 
A) "Is this product useful on a global scale?" 
B) "Is it possible to reposition this product?" 
C) "Is there too much competition for this product?" 
D) "Is the market loyal to the product?" 
E) "Would segmentation be worth doing and is it possible?"

Question 15

It is not recommended that a firm select a target segment that

Accepted Answer

A) would require entry in a global marketplace. 
B) requires more than one marketing action. 
C) has few competitors that target this same segment. 
D) is incompatible with its company's goals or objectives. 
E) has a growth potential that would require increasing the current workforce 
A) would require entry in a global marketplace. 
B) requires more than one marketing action. 
C) has few competitors that target this same segment. 
D) is incompatible with its company's goals or objectives. 
E) has a growth potential that would require increasing the current workforce

Question 16

Criteria for forming segments involve both similarities and differences. In terms of the needs of buyers, 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

Question 17

The Nielsen PRIZM lifestyle segmentation is based on the belief that "birds of a feather flock together." This type of consumer segmentation is referred to as

Accepted Answer

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

Question 18

A market-product grid is a framework to relate

Accepted Answer

A) total estimated expenses for each product sold to each market segment. 
B) total anticipated revenue for each product-market segment combination. 
C) total anticipated profit for each product sold to each market segment. 
D) the market segments of potential buyers to relative market share compared to the largest competitor. 
E) the market segments of potential buyers to products offered or potential marketing actions by an organization. 
A) total estimated expenses for each product sold to each market segment. 
B) total anticipated revenue for each product-market segment combination. 
C) total anticipated profit for each product sold to each market segment. 
D) the market segments of potential buyers to relative market share compared to the largest competitor. 
E) the market segments of potential buyers to products offered or potential marketing actions by an organization.

Question 19

Variables such as location, the North American Industry Classification System (NAICS) code, and number of employees are all examples of ways to

Accepted Answer

A) differentiate products. 
B) forecast sales to a consumer market. 
C) segment an organizational market. 
D) promote NAFTA. 
E) segment a consumer market. 
A) differentiate products. 
B) forecast sales to a consumer market. 
C) segment an organizational market. 
D) promote NAFTA. 
E) segment a consumer market.

Question 20

Organizational synergy is the increased customer value achieved through

Accepted Answer

A) performing organizational functions more efficiently. 
B) more discounts or larger rebates at the point of sale. 
C) involvement of the ultimate consumer in product design. 
D) an increase in the knowledge of competitors. 
E) shared ownership of the organization through publicly traded stock. 
A) performing organizational functions more efficiently. 
B) more discounts or larger rebates at the point of sale. 
C) involvement of the ultimate consumer in product design. 
D) an increase in the knowledge of competitors. 
E) shared ownership of the organization through publicly traded stock.

The first step in segmenting and targeting markets that links customer needs to marketing actions is to

All of the following are criterion used for selecting target market segments EXCEPT:

When expenses are greater than the potential increased sales from market segmentation, a firm should

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.

-In Figure 8-1 above, C represents which stage of the market segmentation process?

Four general categories used to segment consumer markets are geographic segmentation, demographic segmentation, __________, and behavioral segmentation.

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

The axes on a perceptual map are

Building open and honest relationships with communication is an example of Zappos' __________.

Samsung sells a variety of TVs, from simple and small ones to large smart TVs with Internet connectivity and 3D technology. Customers prefer different features, so Samsung uses which type of segmentation variable based on their viewing preferences?

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

A graph displaying consumers' perceptions of product attributes in two dimensions is referred to as a

Variables that are based on some objective physical (gender, ethnicity), measurable (age, income), or other classification attribute (occupation) of prospective customers are used in which segmentation base?

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the following question:

It is not recommended that a firm select a target segment that

Criteria for forming segments involve both similarities and differences. In terms of the needs of buyers, the similarities must be a segment, and the differences must be segments.

The Nielsen PRIZM lifestyle segmentation is based on the belief that "birds of a feather flock together." This type of consumer segmentation is referred to as

A market-product grid is a framework to relate

Variables such as location, the North American Industry Classification System (NAICS) code, and number of employees are all examples of ways to

Organizational synergy is the increased customer value achieved through

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 to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Filters

Exam 8: Market Segmentation, Targeting, and Positioning

The first step in segmenting and targeting markets that links customer needs to marketing actions is to

All of the following are criterion used for selecting target market segments EXCEPT:

When expenses are greater than the potential increased sales from market segmentation, a firm should

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.

-In Figure 8-1 above, C represents which stage of the market segmentation process?

Four general categories used to segment consumer markets are geographic segmentation, demographic segmentation, __________, and behavioral segmentation.

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

The axes on a perceptual map are

Building open and honest relationships with communication is an example of Zappos' __________.

Samsung sells a variety of TVs, from simple and small ones to large smart TVs with Internet connectivity and 3D technology. Customers prefer different features, so Samsung uses which type of segmentation variable based on their viewing preferences?

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

A graph displaying consumers' perceptions of product attributes in two dimensions is referred to as a

Variables that are based on some objective physical (gender, ethnicity), measurable (age, income), or other classification attribute (occupation) of prospective customers are used in which segmentation base?

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the following question:

It is not recommended that a firm select a target segment that

Criteria for forming segments involve both similarities and differences. In terms of the needs of buyers, the similarities must be __________ a segment, and the differences must be __________ segments.

The Nielsen PRIZM lifestyle segmentation is based on the belief that "birds of a feather flock together." This type of consumer segmentation is referred to as

A market-product grid is a framework to relate

Variables such as location, the North American Industry Classification System (NAICS) code, and number of employees are all examples of ways to

Organizational synergy is the increased customer value achieved through

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 to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Filters

Criteria for forming segments involve both similarities and differences. In terms of the needs of buyers, the similarities must be a segment, and the differences must be segments.