Question 1

Which of the following statements regarding segmentation bases is most accurate?

Accepted Answer

A) The identification of demographic variables is more objective than the identification of psychographic variables, which is more subjective. 
B) Marketers should use segmentation bases in this order to reduce potential costs: behavioral, demographic, psychographic, and geographic. 
C) The identification of psychographic variables is more objective than the identification of demographic variables, which is more subjective. 
D) Behavioral segmentation is based primarily on personality. 
E) Psychographic segmentation is based primarily on product features. 
A) The identification of demographic variables is more objective than the identification of psychographic variables, which is more subjective. 
B) Marketers should use segmentation bases in this order to reduce potential costs: behavioral, demographic, psychographic, and geographic. 
C) The identification of psychographic variables is more objective than the identification of demographic variables, which is more subjective. 
D) Behavioral segmentation is based primarily on personality. 
E) Psychographic segmentation is based primarily on product features.

Question 2

Kellogg's has several cereals targeted at different types of users. This is an example of multiple products aimed at multiple markets. Manufacturing these different cereals is clearly more expensive than producing only one but seems worthwhile if it adds to the manufacturer's sales revenues and profits, doesn't reduce quality or increase price, and

Accepted Answer

A) conforms to all FDA guidelines. 
B) uses the same promotion and packaging for all segments. 
C) decreases the cost of the physical plant. 
D) stabilizes competition. 
E) better serves customers' needs. 
A) conforms to all FDA guidelines. 
B) uses the same promotion and packaging for all segments. 
C) decreases the cost of the physical plant. 
D) stabilizes competition. 
E) better serves customers' needs.

Question 3

Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as __________.

Accepted Answer

A) competitive repositioning 
B) position downsizing 
C) differentiation positioning 
D) head-to-head positioning 
E) product distinction positioning 
A) competitive repositioning 
B) position downsizing 
C) differentiation positioning 
D) head-to-head positioning 
E) product distinction positioning

Question 4

-In Figure 8-1 above, Box A 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 5

The O3 technology refers to an innovative tennis racquet Prince Sports developed that simultaneously delivers faster racquet speed and a bigger sweet spot in the middle of the frame. Prince Sports has implemented a __________ strategy with its O3 innovative tennis racquet technology.

Accepted Answer

A) competitive segmentation 
B) head-to-head 
C) product differentiation 
D) usage segmentation 
E) market segmentation 
A) competitive segmentation 
B) head-to-head 
C) product differentiation 
D) usage segmentation 
E) market segmentation

Question 6

-In Figure 8-1 above, B 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 7

Chip-N-Dough Cookie Company will let you select cookies and put a photo of yourself on the tin. This is an example of

Accepted Answer

A) mass customization. 
B) multiple marketing. 
C) target marketing. 
D) product clustering. 
E) repositioning. 
A) mass customization. 
B) multiple marketing. 
C) target marketing. 
D) product clustering. 
E) repositioning.

Question 8

-Figure 8-7 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus with chosen market segments and product groupings. The next step is to develop a simple marketing action to reach a target market. Placing flyers under windshield wipers of cars parked in student parking lots on weekdays between 7:00 a.m. and 4:00 p.m. that offer a $2 off coupon on lunch meal would be especially targeted at potential

Accepted Answer

A) faculty customers. 
B) staff customers. 
C) day commuter customers. 
D) night commuter customers. 
E) nonstudent customers. 
A) faculty customers. 
B) staff customers. 
C) day commuter customers. 
D) night commuter customers. 
E) nonstudent customers.

Question 9

__________ often come at the expense of __________ because a single customer segment will likely require a variety of products, each of which will have to designed and manufactured.

Accepted Answer

A) Product synergies; marketing synergies 
B) Marketing synergies; product synergies 
C) Supplier synergies; consumer synergies 
D) Distributor synergies; supplier synergies 
E) Marketing synergies; finance synergies 
A) Product synergies; marketing synergies 
B) Marketing synergies; product synergies 
C) Supplier synergies; consumer synergies 
D) Distributor synergies; supplier synergies 
E) Marketing synergies; finance synergies

Question 10

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 11

Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands

Accepted Answer

A) against large market segments in a market-product grid. 
B) against small market segments in a market-product grid. 
C) in virtual space that represents the business or product's time in existence and growth. 
D) in the minds of consumers. 
E) against the revenues generated by other products or brands within the company. 
A) against large market segments in a market-product grid. 
B) against small market segments in a market-product grid. 
C) in virtual space that represents the business or product's time in existence and growth. 
D) in the minds of consumers. 
E) against the revenues generated by other products or brands within the company.

Question 12

Selling a product to a different market segment usually requires a different marketing action that in turn means greater costs. If increased revenues don't offset extra costs of this action, a marketer should __________.

Accepted Answer

A) increase the advertising budget 
B) prune the product offerings 
C) family brand their products 
D) combine segments 
E) group products into categories 
A) increase the advertising budget 
B) prune the product offerings 
C) family brand their products 
D) combine segments 
E) group products into categories

Question 13

A perceptual map refers to

Accepted Answer

A) a framework used to compare one firm's product offerings with another firm's offerings in relationship to their relative market share. 
B) a framework used to demonstrate the growth or decline of specific market segments within an industry. 
C) a means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand. 
D) a framework to relate the market segments of potential buyers to the products offered or potential marketing actions by an organization. 
E) the place a product occupies in a single consumer's mind on unimportant attributes relative to competitive products. 
A) a framework used to compare one firm's product offerings with another firm's offerings in relationship to their relative market share. 
B) a framework used to demonstrate the growth or decline of specific market segments within an industry. 
C) a means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand. 
D) a framework to relate the market segments of potential buyers to the products offered or potential marketing actions by an organization. 
E) the place a product occupies in a single consumer's mind on unimportant attributes relative to competitive products.

Question 14

Market segmentation refers to

Accepted Answer

A) the philosophy that to do a truly excellent job of marketing, a company should concentrate on only one customer segment at a time. 
B) sorting prospective buyers into groups that are willing to pay more than the cost of production for a good or service. 
C) disaggregating prospective buyers from groups into segments of one (individuals) and then creating specific products that will satisfy this person's unique needs. 
D) aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action. 
E) the belief that it is possible to satisfy every customer's needs if you can identify the correct segment within which they belong. 
A) the philosophy that to do a truly excellent job of marketing, a company should concentrate on only one customer segment at a time. 
B) sorting prospective buyers into groups that are willing to pay more than the cost of production for a good or service. 
C) disaggregating prospective buyers from groups into segments of one (individuals) and then creating specific products that will satisfy this person's unique needs. 
D) aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action. 
E) the belief that it is possible to satisfy every customer's needs if you can identify the correct segment within which they belong.

Question 15

Airlines have developed frequent-flier programs to encourage passengers to use the same airline repeatedly. This marketing strategy is based on

Accepted Answer

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

Question 16

ChoiceShirts is an online company that makes made-to-order T-shirts. Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch. This is an example of

Accepted Answer

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

Question 17

-Figure 8-6 above 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 largest potential market segment consists of

Accepted Answer

A) students that live in a dormitory. 
B) students that live in an apartment. 
C) students that are day commuters. 
D) students that are night commuters. 
E) faculty or staff members. 
A) students that live in a dormitory. 
B) students that live in an apartment. 
C) students that are day commuters. 
D) students that are night commuters. 
E) faculty or staff members.

Question 18

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

Accepted Answer

A key to positioning a product or brand

Question 19

-In the Apple market-product grid shown above for its personal computer line, the professional segment of medium/large businesses seems willing to purchase all of the items in Apple's product line. This allows Apple to enjoy cost savings due to __________.

Accepted Answer

A) segment differentiation 
B) marketing synergies 
C) product synergies 
D) segment repositioning 
E) product differentiation 
A) segment differentiation 
B) marketing synergies 
C) product synergies 
D) segment repositioning 
E) product differentiation

Question 20

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

Which of the following statements regarding segmentation bases is most accurate?

Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as __________.

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

The O³ technology refers to an innovative tennis racquet Prince Sports developed that simultaneously delivers faster racquet speed and a bigger sweet spot in the middle of the frame. Prince Sports has implemented a __________ strategy with its O³ innovative tennis racquet technology.

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

Chip-N-Dough Cookie Company will let you select cookies and put a photo of yourself on the tin. This is an example of

often come at the expense of because a single customer segment will likely require a variety of products, each of which will have to designed and manufactured.

Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands

Selling a product to a different market segment usually requires a different marketing action that in turn means greater costs. If increased revenues don't offset extra costs of this action, a marketer should __________.

A perceptual map refers to

Market segmentation refers to

Airlines have developed frequent-flier programs to encourage passengers to use the same airline repeatedly. This marketing strategy is based on

ChoiceShirts is an online company that makes made-to-order T-shirts. Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch. This is an example of

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

-In the Apple market-product grid shown above for its personal computer line, the professional segment of medium/large businesses seems willing to purchase all of the items in Apple's product line. This allows Apple to enjoy cost savings due to __________.

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

Which of the following statements regarding segmentation bases is most accurate?

Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as __________.

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

The O3 technology refers to an innovative tennis racquet Prince Sports developed that simultaneously delivers faster racquet speed and a bigger sweet spot in the middle of the frame. Prince Sports has implemented a __________ strategy with its O3 innovative tennis racquet technology.

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

Chip-N-Dough Cookie Company will let you select cookies and put a photo of yourself on the tin. This is an example of

__________ often come at the expense of __________ because a single customer segment will likely require a variety of products, each of which will have to designed and manufactured.

Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands

Selling a product to a different market segment usually requires a different marketing action that in turn means greater costs. If increased revenues don't offset extra costs of this action, a marketer should __________.

A perceptual map refers to

Market segmentation refers to

Airlines have developed frequent-flier programs to encourage passengers to use the same airline repeatedly. This marketing strategy is based on

ChoiceShirts is an online company that makes made-to-order T-shirts. Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch. This is an example of

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

-In the Apple market-product grid shown above for its personal computer line, the professional segment of medium/large businesses seems willing to purchase all of the items in Apple's product line. This allows Apple to enjoy cost savings due to __________.

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

The O³ technology refers to an innovative tennis racquet Prince Sports developed that simultaneously delivers faster racquet speed and a bigger sweet spot in the middle of the frame. Prince Sports has implemented a __________ strategy with its O³ innovative tennis racquet technology.

often come at the expense of because a single customer segment will likely require a variety of products, each of which will have to designed and manufactured.