Question 1

All of the following are examples of increased customer value from organizational synergy EXCEPT:

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

A market-product grid refers to

Accepted Answer

A) a visual representation of all products offered within a specific product class. 
B) a framework used to compare the relative market share of one firm's product offerings to those of its competitors. 
C) a technique that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies. 
D) a framework used to relate the market segments of potential buyers to products offered or potential marketing actions by an organization. 
E) a technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products. 
A) a visual representation of all products offered within a specific product class. 
B) a framework used to compare the relative market share of one firm's product offerings to those of its competitors. 
C) a technique that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies. 
D) a framework used to relate the market segments of potential buyers to products offered or potential marketing actions by an organization. 
E) a technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products.

Question 3

A nonprofit food bank was handing out food to anyone who requested it on a weekly basis. It now wants to give free food only to people who go hungry on a daily basis. This will be the market segment it targets. How does the formation of its market segments differ from the strategy used for a retail store?

Accepted Answer

There is one key difference between for-

Question 4

Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as

Accepted Answer

A) product placement. 
B) perceptual mapping. 
C) product positioning. 
D) product repositioning. 
E) product differentiation. 
A) product placement. 
B) perceptual mapping. 
C) product positioning. 
D) product repositioning. 
E) product differentiation.

Question 5

The third step in segmenting and targeting markets that link customer needs to marketing actions is to __________.

Accepted Answer

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

Question 6

Differentiation positioning requires a product to

Accepted Answer

A) emphasize unique product attributes to compete directly with competitors. 
B) compete directly with competitors on similar product attributes in the same target market. 
C) compete with competitors on similar product attributes but in a different market. 
D) seek a less-competitive, smaller market niche in which to locate a brand. 
E) develop marketing actions to move a product or brand to an ideal position. 
A) emphasize unique product attributes to compete directly with competitors. 
B) compete directly with competitors on similar product attributes in the same target market. 
C) compete with competitors on similar product attributes but in a different market. 
D) seek a less-competitive, smaller market niche in which to locate a brand. 
E) develop marketing actions to move a product or brand to an ideal position.

Question 7

When a telemarketer calls to sell a consumer life insurance, the last questions asked is what category does the person's household income falls into (less than $50,000; $50,000 to $99,999; and $100,000 and over). When the telemarketer asks about household income, this indicates the use of which type of consumer variable the firm is using to segment its market?

Accepted Answer

A) usage 
B) behavior 
C) demographic 
D) buying situation 
E) psychographic 
A) usage 
B) behavior 
C) demographic 
D) buying situation 
E) psychographic

Question 8

The ultimate criterion for an organization's marketing success is that __________ as a result of increased synergies.

Accepted Answer

A) costs decrease 
B) market share increases 
C) product deficiencies decrease 
D) customers should be better off 
E) new products flourish 
A) costs decrease 
B) market share increases 
C) product deficiencies decrease 
D) customers should be better off 
E) new products flourish

Question 9

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

Accepted Answer

Mass customization involves tailoring go

Question 10

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 11

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 12

A recent study by the Aberdeen Group analyzed which segmentation bases were used by the 20 percent most profitable organizations of the 220 surveyed. Which segmentation base did these organizations use the most?

Accepted Answer

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

Question 13

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

Accepted Answer

A) similarity of needs of potential buyers within a segment 
B) difference of needs of buyers between segments 
C) expected growth of a segment 
D) feasibility of a marketing action to reach a segment 
E) simplicity and cost of assigning potential buyers to segments 
A) similarity of needs of potential buyers within a segment 
B) difference of needs of buyers between segments 
C) expected growth of a segment 
D) feasibility of a marketing action to reach a segment 
E) simplicity and cost of assigning potential buyers to segments

Question 14

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 off 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 off 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 15

-In the Apple market-product grid shown above for its personal computer line, the iMac is popular among all the segments Apple can target. This allows Apple to enjoy __________.

Accepted Answer

A) segmentation synergies 
B) marketing synergies 
C) product synergies 
D) the 80/20 rule 
E) frequency marketing 
A) segmentation synergies 
B) marketing synergies 
C) product synergies 
D) the 80/20 rule 
E) frequency marketing

Question 16

What are the criteria used to select target markets?

Accepted Answer

There are two different kinds of criteri

Question 17

The segmentation strategy used by Prince Sports today is

Accepted Answer

A) geographic. 
B) behavioral. 
C) psychographic. 
D) socioeconomic. 
E) resource-based. 
A) geographic. 
B) behavioral. 
C) psychographic. 
D) socioeconomic. 
E) resource-based.

Question 18

You can go to your nearest Hallmark card store and buy a birthday greeting card for a friend and pay $4.50. Or, you can buy a Hallmark card from its new $0.99 line of greeting cards, made with lesser-quality materials but just as sentimental, that are sold at Barnes and Noble bookstores. This is an example of

Accepted Answer

A) mass customization. 
B) organizational synergy. 
C) one product and multiple market segments. 
D) price discrimination. 
E) a Tiffany/Walmart strategy. 
A) mass customization. 
B) organizational synergy. 
C) one product and multiple market segments. 
D) price discrimination. 
E) a Tiffany/Walmart strategy.

Question 19

Explain what a market-product grid is and how it is used.

Accepted Answer

A market-product grid is a framework to

Question 20

Two key types of synergies are __________.

Accepted Answer

A) supplier and distributor synergies 
B) market and product synergies 
C) industry-dominated and consumer-dominated 
D) product and production synergies 
E) consumer and market synergies 
A) supplier and distributor synergies 
B) market and product synergies 
C) industry-dominated and consumer-dominated 
D) product and production synergies 
E) consumer and market synergies

All of the following are examples of increased customer value from organizational synergy EXCEPT:

A market-product grid refers to

Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as

The third step in segmenting and targeting markets that link customer needs to marketing actions is to __________.

Differentiation positioning requires a product to

The ultimate criterion for an organization's marketing success is that __________ as a result of increased synergies.

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

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

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

A recent study by the Aberdeen Group analyzed which segmentation bases were used by the 20 percent most profitable organizations of the 220 surveyed. Which segmentation base did these organizations use the most?

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

Product repositioning refers to

-In the Apple market-product grid shown above for its personal computer line, the iMac is popular among all the segments Apple can target. This allows Apple to enjoy __________.

What are the criteria used to select target markets?

The segmentation strategy used by Prince Sports today is

Explain what a market-product grid is and how it is used.

Two key types of synergies are __________.

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

All of the following are examples of increased customer value from organizational synergy EXCEPT:

A market-product grid refers to

Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as

The third step in segmenting and targeting markets that link customer needs to marketing actions is to __________.

Differentiation positioning requires a product to

The ultimate criterion for an organization's marketing success is that __________ as a result of increased synergies.

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

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

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

A recent study by the Aberdeen Group analyzed which segmentation bases were used by the 20 percent most profitable organizations of the 220 surveyed. Which segmentation base did these organizations use the most?

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

Product repositioning refers to

-In the Apple market-product grid shown above for its personal computer line, the iMac is popular among all the segments Apple can target. This allows Apple to enjoy __________.

What are the criteria used to select target markets?

The segmentation strategy used by Prince Sports today is

Explain what a market-product grid is and how it is used.

Two key types of synergies are __________.

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