Question 1

second step in segmenting and targeting markets that link customer needs to marketing actions is to

Accepted Answer

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

Question 2

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

Accepted Answer

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

Question 3

implement a __________ strategy,nikeid.com allows customers to visit its website and design a sneaker to their own personal specifications.

Accepted Answer

A)  product sampling 
B)  product clustering 
C)  mass customization 
D)  usage segmentation 
E)  psychographic segmentation 
A)  product sampling 
B)  product clustering 
C)  mass customization 
D)  usage segmentation 
E)  psychographic segmentation

Question 4

After establishing the market segments 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/or secondary sources. 
B)  make intelligent "guesstimates" of the market size for each cell using a simple scale from zero to three ("0" = no market; "1" = a small market; "2" = a medium market; and "3" = a large market). 
C)  total the vertical columns to identify the greatest marketing synergies and efficiencies. 
D)  total the horizontal rows to identify greatest operations/production synergies and efficiencies. 
E)  identify a marketing action for every product-market combination in the grid. 
A)  fill in the appropriate cells with precise statistical data from primary and/or secondary sources. 
B)  make intelligent "guesstimates" of the market size for each cell using a simple scale from zero to three ("0" = no market; "1" = a small market; "2" = a medium market; and "3" = a large market). 
C)  total the vertical columns to identify the greatest marketing synergies and efficiencies. 
D)  total the horizontal rows to identify greatest operations/production synergies and efficiencies. 
E)  identify a marketing action for every product-market combination in the grid.

Question 5

Nielsen PRIZM (part of Nielsen Claritas)segmentation classifies every household into one of 66 demographically and __________ distinct neighborhood segments to identify lifestyles and purchase behavior within a defined geographic market area,such as zip code.

Accepted Answer

A)  psychographically 
B)  behaviorally 
C)  situationally 
D)  socioeconomically 
E)  ethnographically 
A)  psychographically 
B)  behaviorally 
C)  situationally 
D)  socioeconomically 
E)  ethnographically

Question 6

Segmentation based on some observable actions or attitudes by prospective customers,such as what benefits they seek,as well as where,how frequently,and why they buy,is referred to as

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 7

market-product grid relates the market segments to the products offered or potential marketing actions.With respect to pillows,what would be the most effective way to segment the pillow market? One should segment this market by

Accepted Answer

A)  the age of the sleeper: less than 18 years of age, 18 to 44 years of age, or 45 years and older. 
B)  the sleeper's annual income: less than $25,000, $25,000 to $49,999, or $50,000 and over. 
C)  the sleeper's gender: male or female. 
D)  whether the sleeper has sleeping problems: yes or no. 
E)  how the sleeper sleeps: side, back,or stomach. 
A)  the age of the sleeper: less than 18 years of age, 18 to 44 years of age, or 45 years and older. 
B)  the sleeper's annual income: less than $25,000, $25,000 to $49,999, or $50,000 and over. 
C)  the sleeper's gender: male or female. 
D)  whether the sleeper has sleeping problems: yes or no. 
E)  how the sleeper sleeps: side, back,or stomach.

Question 8

general criteria are often used to select target segments.They include: (1)the size of the market; (2)expected growth of the market; (3)competitive position of the firm with respect to the market; (4)cost of reaching the segment; and __________.

Accepted Answer

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

Question 9

Zappos' original target market customers consisted of people who wanted all of the following EXCEPT:

Accepted Answer

A)  to receive quick delivery of their merchandise. 
B)  to buy sustainable shoes, accessories, and clothing. 
C)  to shop online in the convenience of their own homes. 
D)  to allow for free returns of goods if dissatisfied. 
E)  to have a wide selection of shoes. 
A)  to receive quick delivery of their merchandise. 
B)  to buy sustainable shoes, accessories, and clothing. 
C)  to shop online in the convenience of their own homes. 
D)  to allow for free returns of goods if dissatisfied. 
E)  to have a wide selection of shoes.

Question 10

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.

Question 11

process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization's marketing program.

Accepted Answer

A)  self-regulatory industry standards 
B)  government regulations 
C)  top-level management 
D)  buyers' needs 
E)  controllable environmental factors 
A)  self-regulatory industry standards 
B)  government regulations 
C)  top-level management 
D)  buyers' needs 
E)  controllable environmental factors

Question 12

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 13

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 closest 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 closest competitor. 
E)  the market segments of potential buyers to products offered or potential marketing actions by an organization.

Question 14

Foods Company is considering expanding beyond the regional market segments now served by its Hellmann's mayonnaise.One criterion management wants to use to evaluate potential new geographic market segments is whether new equipment must be bought to serve each new segment.This is an example of which criterion used to select target market segments?

Accepted Answer

A)  Best Foods' competitive position in the segment 
B)  Best Foods' created product groupings 
C)  expected growth of the market segment 
D)  size of the market segment 
E)  cost of reaching the segment 
A)  Best Foods' competitive position in the segment 
B)  Best Foods' created product groupings 
C)  expected growth of the market segment 
D)  size of the market segment 
E)  cost of reaching the segment

Question 15

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 16

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)__________; (3)discover where the company's product or brand is on these attributes in the minds of potential customers; 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)  discover how target customers rate competing products or brands with respect to these attributes 
D)  create a marketing plan based on customers' perceptions 
E)  identify market niches that were not previously selected during the market segmentation process 
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)  discover how target customers rate competing products or brands with respect to these attributes 
D)  create a marketing plan based on customers' perceptions 
E)  identify market niches that were not previously selected during the market segmentation process

Question 17

analysis of the pillow market using a market-product grid suggests that the most important segment to target is

Accepted Answer

A)  side sleepers. 
B)  sleepers with sleep disorders, such as sleep apnea. 
C)  sleepers with annual incomes of $50,000 and over. 
D)  back sleepers. 
E)  stomach sleepers. 
A)  side sleepers. 
B)  sleepers with sleep disorders, such as sleep apnea. 
C)  sleepers with annual incomes of $50,000 and over. 
D)  back sleepers. 
E)  stomach sleepers.

Question 18

Figure 9-11
-Figure 9-11 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)  growth-share matrix 
E)  perception matrix 
A)  hierarchy of needs 
B)  perceptual map 
C)  marketing matrix 
D)  growth-share matrix 
E)  perception matrix

Question 19

aggregation of prospective buyers into groups that (1)have common needs and (2)will respond similarly to a marketing action is referred to as __________.

Accepted Answer

A)  market diversification 
B)  market differentiation 
C)  market segmentation 
D)  market augmentation 
E)  market repositioning 
A)  market diversification 
B)  market differentiation 
C)  market segmentation 
D)  market augmentation 
E)  market repositioning

Question 20

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 will the evaluation of its market segmentation strategy differ from that used for a retail store?

Accepted Answer

There is one key difference between for-

second step in segmenting and targeting markets that link customer needs to marketing actions is to

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

implement a __________ strategy,nikeid.com allows customers to visit its website and design a sneaker to their own personal specifications.

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

Nielsen PRIZM (part of Nielsen Claritas)segmentation classifies every household into one of 66 demographically and __________ distinct neighborhood segments to identify lifestyles and purchase behavior within a defined geographic market area,such as zip code.

Segmentation based on some observable actions or attitudes by prospective customers,such as what benefits they seek,as well as where,how frequently,and why they buy,is referred to as

market-product grid relates the market segments to the products offered or potential marketing actions.With respect to pillows,what would be the most effective way to segment the pillow market? One should segment this market by

general criteria are often used to select target segments.They include: (1)the size of the market; (2)expected growth of the market; (3)competitive position of the firm with respect to the market; (4)cost of reaching the segment; and __________.

Zappos' original target market customers consisted of people who wanted all of the following EXCEPT:

Organizational synergy is the increased customer value achieved through

process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization's marketing program.

Product repositioning refers to

market-product grid is a framework to relate

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

analysis of the pillow market using a market-product grid suggests that the most important segment to target is

Figure 9-11 -Figure 9-11 above is a depiction of a _________ for beverages in the minds of adults.

aggregation of prospective buyers into groups that (1)have common needs and (2)will respond similarly to a marketing action is referred to as __________.

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

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Exam 9: Market Segmentation,Targeting,and Positioning

second step in segmenting and targeting markets that link customer needs to marketing actions is to

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

implement a __________ strategy,nikeid.com allows customers to visit its website and design a sneaker to their own personal specifications.

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

Nielsen PRIZM (part of Nielsen Claritas)segmentation classifies every household into one of 66 demographically and __________ distinct neighborhood segments to identify lifestyles and purchase behavior within a defined geographic market area,such as zip code.

Segmentation based on some observable actions or attitudes by prospective customers,such as what benefits they seek,as well as where,how frequently,and why they buy,is referred to as

market-product grid relates the market segments to the products offered or potential marketing actions.With respect to pillows,what would be the most effective way to segment the pillow market? One should segment this market by

general criteria are often used to select target segments.They include: (1)the size of the market; (2)expected growth of the market; (3)competitive position of the firm with respect to the market; (4)cost of reaching the segment; and __________.

Zappos' original target market customers consisted of people who wanted all of the following EXCEPT:

Organizational synergy is the increased customer value achieved through

process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization's marketing program.

Product repositioning refers to

market-product grid is a framework to relate

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

analysis of the pillow market using a market-product grid suggests that the most important segment to target is

Figure 9-11 -Figure 9-11 above is a depiction of a _________ for beverages in the minds of adults.

aggregation of prospective buyers into groups that (1)have common needs and (2)will respond similarly to a marketing action is referred to as __________.

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