Question 1

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

Accepted Answer

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

Question 2

According to Toney Hsieh,CEO of Zappos,the greatest amount of time is spent

Accepted Answer

A)  seeking out new and unusual styles of shoes from all over the world. 
B)  improving the website to make it faster, more interesting, and fun. 
C)  seeking out new markets that will go beyond the Internet. 
D)  finding the fastest and least expensive modes of delivery for its products. 
E)  finding ways to improve customer-service levels. 
A)  seeking out new and unusual styles of shoes from all over the world. 
B)  improving the website to make it faster, more interesting, and fun. 
C)  seeking out new markets that will go beyond the Internet. 
D)  finding the fastest and least expensive modes of delivery for its products. 
E)  finding ways to improve customer-service levels. E

Question 3

Criteria for forming segments involve both similarities and differences.Which of the following statements is most accurate?

Accepted Answer

A)  Within a segment, the needs of potential buyers should be different; among segments, the needs of buyers should be similar. 
B)  Within a segment, the needs of potential buyers should be similar; among segments, the needs of buyers should be different. 
C)  The needs of buyers should be different, both between segments and within segments. 
D)  The needs of buyers should be the same, both between segments and within segments. 
E)  If there are any differences at all, you should segment your market. 
A)  Within a segment, the needs of potential buyers should be different; among segments, the needs of buyers should be similar. 
B)  Within a segment, the needs of potential buyers should be similar; among segments, the needs of buyers should be different. 
C)  The needs of buyers should be different, both between segments and within segments. 
D)  The needs of buyers should be the same, both between segments and within segments. 
E)  If there are any differences at all, you should segment your market. B

Question 4

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

Accepted Answer

Usage rate is sometimes referred to in t

Question 5

Figure 9-5
-According to Figure 9-5 above,people who most likely will never use a firm's product or service are referred to as

Accepted Answer

A)  nonqualified prospects. 
B)  dead leads. 
C)  potential prospects. 
D)  nonprospects. 
E)  laggards. 
A)  nonqualified prospects. 
B)  dead leads. 
C)  potential prospects. 
D)  nonprospects. 
E)  laggards.

Question 6

than half of all U.S.households are composed of only one or two persons,so Aunt Jemima packages meals with only one serving-such as its Ham & Egg Scramble and Oatmeal Pancakes.Aunt Jemima is using __________ as the basis to segment its market.

Accepted Answer

A)  usage rates 
B)  usage patterns 
C)  behavior characteristics 
D)  demographic characteristics 
E)  psychographic characteristics 
A)  usage rates 
B)  usage patterns 
C)  behavior characteristics 
D)  demographic characteristics 
E)  psychographic characteristics

Question 7

Product positioning refers to

Accepted Answer

A)  an outdated concept that assigns product value by association with social class. 
B)  the place a product offering occupies in consumers' minds on important attributes. 
C)  the competitive advantage of one product over another. 
D)  changing the place a product occupies in a consumer's mind relative to competitive products. 
E)  using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets. 
A)  an outdated concept that assigns product value by association with social class. 
B)  the place a product offering occupies in consumers' minds on important attributes. 
C)  the competitive advantage of one product over another. 
D)  changing the place a product occupies in a consumer's mind relative to competitive products. 
E)  using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets.

Question 8

Market segmentation refers to

Accepted Answer

A)  the philosophy that to do a truly excellent job of marketing, a company should concentrate only one customer segment at a time. 
B)  aggregating prospective buyers into groups that have common needs but who respond differently to a marketing action. 
C)  aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action. 
D)  disaggregating prospective buyers from groups into segments of one (individuals) and creating or designing specific products that will satisfy each individual's unique needs. 
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 only one customer segment at a time. 
B)  aggregating prospective buyers into groups that have common needs but who respond differently to a marketing action. 
C)  aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action. 
D)  disaggregating prospective buyers from groups into segments of one (individuals) and creating or designing specific products that will satisfy each individual's unique needs. 
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 9

key to positioning a product or brand effectively is discovering the perceptions of its potential customers.In determining its positioning in the minds of customers,companies take four steps: (1)identify the important attributes for the product or brand class; (2)discover how target customers rate competing products or brands with respect to these attributes; (3)___________; and (4)reposition the company's product or brand in the minds of potential customers.

Accepted Answer

A)  decide whether to keep or delete the market segment that your product offering targets 
B)  identify the competitors' brands that make up the consideration set 
C)  create a marketing plan based on customers' perceptions 
D)  identify market niches that were not previously selected during the market segmentation process 
E)  discover where the company's product or brand is on these attributes in the minds of potential customers 
A)  decide whether to keep or delete the market segment that your product offering targets 
B)  identify the competitors' brands that make up the consideration set 
C)  create a marketing plan based on customers' perceptions 
D)  identify market niches that were not previously selected during the market segmentation process 
E)  discover where the company's product or brand is on these attributes in the minds of potential customers

Question 10

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 11

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 12

Behavioral segmentation encompasses

Accepted Answer

A)  lifestyles and demographics. 
B)  retailer and wholesaler behaviors. 
C)  geographic and demographic criteria. 
D)  product features and user status. 
E)  demand and supply. 
A)  lifestyles and demographics. 
B)  retailer and wholesaler behaviors. 
C)  geographic and demographic criteria. 
D)  product features and user status. 
E)  demand and supply.

Question 13

of the following are geographic segmentation variables EXCEPT:

Accepted Answer

A)  density 
B)  city size 
C)  region 
D)  VALS 
E)  statistical area 
A)  density 
B)  city size 
C)  region 
D)  VALS 
E)  statistical area

Question 14

business firm goes to the trouble and expense of segmenting its markets when

Accepted Answer

A)  it changes its advertising campaign. 
B)  competitors enter the marketplace. 
C)  the environment becomes uncertain. 
D)  it expects that this will increase its sales, profit, and return on investment. 
E)  there is a recessionary economic environment. 
A)  it changes its advertising campaign. 
B)  competitors enter the marketplace. 
C)  the environment becomes uncertain. 
D)  it expects that this will increase its sales, profit, and return on investment. 
E)  there is a recessionary economic environment.

Question 15

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 16

basic test of the usefulness of the market segmentation process is whether it leads to tangible marketing actions that can

Accepted Answer

A)  increase sales and profitability. 
B)  stand up to legal scrutiny. 
C)  be socially responsible. 
D)  create sustainable demand. 
E)  create innovation. 
A)  increase sales and profitability. 
B)  stand up to legal scrutiny. 
C)  be socially responsible. 
D)  create sustainable demand. 
E)  create innovation.

Question 17

advantage of a market-product grid is that it can be used to

Accepted Answer

A)  make cost-cutting decisions under conditions of uncertainty. 
B)  screen many new product ideas in order to select the one with the best long-run market potential. 
C)  determine which target market segments to select and which product groupings to offer. 
D)  select representative samples of consumers for marketing research studies. 
E)  relate the product life cycle to consumer demand. 
A)  make cost-cutting decisions under conditions of uncertainty. 
B)  screen many new product ideas in order to select the one with the best long-run market potential. 
C)  determine which target market segments to select and which product groupings to offer. 
D)  select representative samples of consumers for marketing research studies. 
E)  relate the product life cycle to consumer demand.

Question 18

Procter & Gamble introduced Crest toothpaste,the first fluoride toothpaste,it was intended for use by children and was therefore given a child-appealing bubblegum flavor.Sometime later,the same basic formula was given a fresh,minty flavor to appeal to adults.What marketing strategy did P&G use in this example?

Accepted Answer

A)  product segmentation 
B)  market expansion 
C)  product differentiation 
D)  usage segmentation 
E)  psychographic segmentation 
A)  product segmentation 
B)  market expansion 
C)  product differentiation 
D)  usage segmentation 
E)  psychographic segmentation

Question 19

Segmentation that is based on some objective physical (gender,ethnicity),measurable (age,income),or other classification attribute (occupation)of prospective customers is referred to as

Accepted Answer

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

Question 20

Reebok makes shoes with DMX Shear and Foam cushioning.The Premier Control shoe is made for runners whose feet tend to turn out.The Premier Road is made with extra cushioning for pavement runners.This strategy is an example of

Accepted Answer

A)  mass customization. 
B)  customized manufacturing. 
C)  market segmentation. 
D)  single chain marketing. 
E)  market specific selection. 
A)  mass customization. 
B)  customized manufacturing. 
C)  market segmentation. 
D)  single chain marketing. 
E)  market specific selection.

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

According to Toney Hsieh,CEO of Zappos,the greatest amount of time is spent

Criteria for forming segments involve both similarities and differences.Which of the following statements is most accurate?

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

Figure 9-5 -According to Figure 9-5 above,people who most likely will never use a firm's product or service are referred to as

than half of all U.S.households are composed of only one or two persons,so Aunt Jemima packages meals with only one serving-such as its Ham & Egg Scramble and Oatmeal Pancakes.Aunt Jemima is using __________ as the basis to segment its market.

Product positioning refers to

Market segmentation refers to

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 O³innovative tennis racquet technology.

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

Behavioral segmentation encompasses

of the following are geographic segmentation variables EXCEPT:

business firm goes to the trouble and expense of segmenting its markets when

basic test of the usefulness of the market segmentation process is whether it leads to tangible marketing actions that can

advantage of a market-product grid is that it can be used to

Segmentation that is based on some objective physical (gender,ethnicity),measurable (age,income),or other classification attribute (occupation)of prospective customers is referred to as

Reebok makes shoes with DMX Shear and Foam cushioning.The Premier Control shoe is made for runners whose feet tend to turn out.The Premier Road is made with extra cushioning for pavement runners.This strategy is an example of

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable 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

Services Marketing

Building the Price Foundation

Arriving at the Final Price

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 Multi-Channel Marketing

Pulling It All Together: The Strategic Marketing Process

Filters

Exam 9: Market Segmentation,Targeting,and Positioning

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

According to Toney Hsieh,CEO of Zappos,the greatest amount of time is spent

Criteria for forming segments involve both similarities and differences.Which of the following statements is most accurate?

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

Figure 9-5 -According to Figure 9-5 above,people who most likely will never use a firm's product or service are referred to as

than half of all U.S.households are composed of only one or two persons,so Aunt Jemima packages meals with only one serving-such as its Ham & Egg Scramble and Oatmeal Pancakes.Aunt Jemima is using __________ as the basis to segment its market.

Product positioning refers to

Market segmentation refers to

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.

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

Behavioral segmentation encompasses

of the following are geographic segmentation variables EXCEPT:

business firm goes to the trouble and expense of segmenting its markets when

basic test of the usefulness of the market segmentation process is whether it leads to tangible marketing actions that can

advantage of a market-product grid is that it can be used to

Segmentation that is based on some objective physical (gender,ethnicity),measurable (age,income),or other classification attribute (occupation)of prospective customers is referred to as

Reebok makes shoes with DMX Shear and Foam cushioning.The Premier Control shoe is made for runners whose feet tend to turn out.The Premier Road is made with extra cushioning for pavement runners.This strategy is an example of

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable 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

Services Marketing

Building the Price Foundation

Arriving at the Final Price

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 Multi-Channel Marketing

Pulling It All Together: The Strategic Marketing Process

Filters

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 O³innovative tennis racquet technology.