Question 1

List out the different positioning approaches followed by marketers.Give an example for each.

Accepted Answer

To achieve the goal of positioning,marke

Question 2

You have just completed an extensive marketing research project designed to determine the potential of a new service your company is considering launching.Using surveys,polling,face-to-face interviews,and mail-in questionnaires,you have determined that the consumers who are most inclined to use this new service live in densely populated urban areas within certain zip codes.What approach to market segmentation should you use?​

Accepted Answer

A) ​use psychographic variables to segment the market 
B) ​use demographic variables to segment the market 
C) ​use behavior variables to segment the market 
D) ​use geographic variables to segment the market 
E) ​use sociocultural variables to segment the market 
A) ​use psychographic variables to segment the market 
B) ​use demographic variables to segment the market 
C) ​use behavior variables to segment the market 
D) ​use geographic variables to segment the market 
E) ​use sociocultural variables to segment the market

Question 3

In the process of market segmentation,once the market potential of the segments has been estimated,the next step is to:

Accepted Answer

A) develop a marketing mix. 
B) develop a relevant profile for each segment. 
C) forecast probable market share. 
D) seek strategies to enter the market. 
A) develop a marketing mix. 
B) develop a relevant profile for each segment. 
C) forecast probable market share. 
D) seek strategies to enter the market.

Question 4

If a company markets a consumer product,such as toilet paper,in bulk quantities to the entire market,it is involved in micromarketing.

Accepted Answer

A) True 
 B)False

Question 5

An undifferentiated marketing strategy:

Accepted Answer

A) involves developing different marketing mixes for different segments. 
B) benefits from the control and efficiency of short production runs. 
C) is also known as a concentrated marketing strategy. 
D) is efficient from a production point of view. 
A) involves developing different marketing mixes for different segments. 
B) benefits from the control and efficiency of short production runs. 
C) is also known as a concentrated marketing strategy. 
D) is efficient from a production point of view.

Question 6

The revised VALS framework categories consumers by characteristics that correlate with _____.

Accepted Answer

A) age 
B) socioeconomic level 
C) purchase behavior 
D) gender 
A) age 
B) socioeconomic level 
C) purchase behavior 
D) gender

Question 7

Segmentation by benefits sought is a product-related segmentation approach that:

Accepted Answer

A) determines the marketer's effectiveness in satisfying the consumer. 
B) measures brand loyalty and consumer perception. 
C) re-evaluates customer reactions post-consumption. 
D) focuses on the attributes that people seek in a product. 
A) determines the marketer's effectiveness in satisfying the consumer. 
B) measures brand loyalty and consumer perception. 
C) re-evaluates customer reactions post-consumption. 
D) focuses on the attributes that people seek in a product.

Question 8

There are a number of strategies that you can use to position your company's technology product in the mind of the consumer.You decide to focus your advertising campaign on the perception that your product is what the others aspire to be--the best.Which of the common categories for product positioning are you using to develop your marketing campaign?​

Accepted Answer

A) ​application 
B) ​usage rate 
C) ​attributes 
D) ​product class 
E) ​product user 
A) ​application 
B) ​usage rate 
C) ​attributes 
D) ​product class 
E) ​product user

Question 9

The 80/20 principle states that:

Accepted Answer

A) market segmentation succeeds 80 percent of the time and fails the remaining 20 percent of the time. 
B) roughly 80 percent of total product sales come from 20 percent of customers. 
C) nearly 80 percent of the market segment is generally tapped within first 10 years of the introduction of the product, and 20 percent remains unreached. 
D) 80 percent of the market can be segmented, and 20 percent cannot. 
A) market segmentation succeeds 80 percent of the time and fails the remaining 20 percent of the time. 
B) roughly 80 percent of total product sales come from 20 percent of customers. 
C) nearly 80 percent of the market segment is generally tapped within first 10 years of the introduction of the product, and 20 percent remains unreached. 
D) 80 percent of the market can be segmented, and 20 percent cannot.

Question 10

Income is a common demographic variable for segmenting the consumer market,and expenditure patterns vary with income.Engel's laws are three general statements based on Ernst Engel's statistical study of the impact of changes in household income on consumer spending behavior.These statements were valid over 100 years ago and with a few exceptions,still appear to be valid today.Choose the statement below that best summarizes Engel's laws.​

Accepted Answer

A) ​As income increases: a smaller percentage is spent on food; the percentage spent on housing and clothing increases; the percentage spent on other items like recreation remains constant. 
B) ​As income increases: a larger percentage is spent on food; the percentage spent on housing and clothing remains constant; the percentage spent on other items like recreation increases. 
C) As income increases: the percentage spent on food remains constant; the percentage spent on housing and clothing decreases; the percentage spent on other items like recreation increases.​ 
D) ​As income increases: a larger percentage is spent on food; the percentage spent on housing and clothing increases; the percentage spent on other items like recreation remains constant. 
E) ​As income increases: a smaller percentage is spent on food; the percentage spent on housing and clothing remains constant; the percentage spent on other items like recreation increases. 
A) ​As income increases: a smaller percentage is spent on food; the percentage spent on housing and clothing increases; the percentage spent on other items like recreation remains constant. 
B) ​As income increases: a larger percentage is spent on food; the percentage spent on housing and clothing remains constant; the percentage spent on other items like recreation increases. 
C) As income increases: the percentage spent on food remains constant; the percentage spent on housing and clothing decreases; the percentage spent on other items like recreation increases.​ 
D) ​As income increases: a larger percentage is spent on food; the percentage spent on housing and clothing increases; the percentage spent on other items like recreation remains constant. 
E) ​As income increases: a smaller percentage is spent on food; the percentage spent on housing and clothing remains constant; the percentage spent on other items like recreation increases.

Question 11

"For the same dollars that you spend on a no-frills ticket to Los Angeles,fly Business Class with us!" is the advertising statement issued by FlyHigh Airlines.It represents an attempt by FlyHigh Airlines to position itself with respect to its competitors.

Accepted Answer

A) True 
 B)False

Question 12

Developing a relevant user profile is the first step in the market segmentation process.How are segment profiles used to identify the typical customer in each segment?​

Accepted Answer

A) ​Segment profiles are used to describe differences among members of a market segment, and to explain similarities among members in separate market segments. 
B) ​Segment profiles are used to describe differences among members of a market segment, and to explain differences among members in separate market segments. 
C) ​Segment profiles are used to describe similarities among members of a market segment, and to explain similarities among members in separate market segments. 
D) ​Segment profiles are used to describe preferences among members of a market segment, and to explain preferences among members in separate market segments. 
E) ​Segment profiles are used to describe similarities among members of a market segment, and to explain differences among members in separate market segments. 
A) ​Segment profiles are used to describe differences among members of a market segment, and to explain similarities among members in separate market segments. 
B) ​Segment profiles are used to describe differences among members of a market segment, and to explain differences among members in separate market segments. 
C) ​Segment profiles are used to describe similarities among members of a market segment, and to explain similarities among members in separate market segments. 
D) ​Segment profiles are used to describe preferences among members of a market segment, and to explain preferences among members in separate market segments. 
E) ​Segment profiles are used to describe similarities among members of a market segment, and to explain differences among members in separate market segments.

Question 13

A young single person setting up an apartment for the first time is most likely to be a good prospect for:

Accepted Answer

A) expensive furnishings. 
B) luxury cars, personalized gifts and power tools. 
C) small home appliances such as coffee makers and toasters. 
D) health care products and insurance policies. 
A) expensive furnishings. 
B) luxury cars, personalized gifts and power tools. 
C) small home appliances such as coffee makers and toasters. 
D) health care products and insurance policies.

Question 14

Marketers must consider the advantages and disadvantages of each marketing strategy as they choose which one is the best fit for their firm.You have chosen to market your company's product using a differentiated marketing strategy.What disadvantage will you face?​

Accepted Answer

A) ​Your mass marketing approach may put you out of touch with today's consumer. 
B) ​Your marketing costs will be higher and you will have more production processes. 
C) ​Your direct competition may appeal to your very narrow niche market in a similar manner. 
D) ​Your firm may lose sight of other larger and more profitable markets. 
E) ​Your mass marketing approach may not appeal to smaller market segments. 
A) ​Your mass marketing approach may put you out of touch with today's consumer. 
B) ​Your marketing costs will be higher and you will have more production processes. 
C) ​Your direct competition may appeal to your very narrow niche market in a similar manner. 
D) ​Your firm may lose sight of other larger and more profitable markets. 
E) ​Your mass marketing approach may not appeal to smaller market segments.

Question 15

Once the total market potential has been estimated by a firm,the next step in the market segmentation process is to forecast the probable market share.

Accepted Answer

A) True 
 B)False

Question 16

The lumber that a carpenter purchases to make a table for a customer can be classified as a(n):

Accepted Answer

A) impulse product. 
B) business product. 
C) consumer good. 
D) final product. 
A) impulse product. 
B) business product. 
C) consumer good. 
D) final product.

Question 17

The division of the total market into smaller,homogenous groups is called _____.

Accepted Answer

A) customer aggregation 
B) market capitalization 
C) market segmentation 
D) brand segmentation 
A) customer aggregation 
B) market capitalization 
C) market segmentation 
D) brand segmentation

Question 18

Geographic indicators such as job growth give useful guidance to marketers,depending on the type of products they sell.

Accepted Answer

A) True 
 B)False

Question 19

Ford Motor Company surveyed 10,000 customers to analyze their needs and preferences in automobiles.At the end of the survey,respondents were asked to provide demographic information,including age.Responses concerning preferences were strikingly similar for each group within a specific five-year age range.This result is an example of the _____ effect.

Accepted Answer

A) income 
B) life cycle 
C) cohort 
D) Hafner's 
A) income 
B) life cycle 
C) cohort 
D) Hafner's

Question 20

The four basic determinants of a market-specific segmentation strategy include company resources,competitors' strategies,stage in the product lifecycle,and:

Accepted Answer

A) product demand. 
B) product homogeneity. 
C) environmental constraints. 
D) organizational efficiencies. 
A) product demand. 
B) product homogeneity. 
C) environmental constraints. 
D) organizational efficiencies.

List out the different positioning approaches followed by marketers.Give an example for each.

In the process of market segmentation,once the market potential of the segments has been estimated,the next step is to:

If a company markets a consumer product,such as toilet paper,in bulk quantities to the entire market,it is involved in micromarketing.

An undifferentiated marketing strategy:

The revised VALS framework categories consumers by characteristics that correlate with _____.

Segmentation by benefits sought is a product-related segmentation approach that:

The 80/20 principle states that:

"For the same dollars that you spend on a no-frills ticket to Los Angeles,fly Business Class with us!" is the advertising statement issued by FlyHigh Airlines.It represents an attempt by FlyHigh Airlines to position itself with respect to its competitors.

Developing a relevant user profile is the first step in the market segmentation process.How are segment profiles used to identify the typical customer in each segment?

A young single person setting up an apartment for the first time is most likely to be a good prospect for:

Marketers must consider the advantages and disadvantages of each marketing strategy as they choose which one is the best fit for their firm.You have chosen to market your company's product using a differentiated marketing strategy.What disadvantage will you face?

Once the total market potential has been estimated by a firm,the next step in the market segmentation process is to forecast the probable market share.

The lumber that a carpenter purchases to make a table for a customer can be classified as a(n):

The division of the total market into smaller,homogenous groups is called _____.

Geographic indicators such as job growth give useful guidance to marketers,depending on the type of products they sell.

The four basic determinants of a market-specific segmentation strategy include company resources,competitors' strategies,stage in the product lifecycle,and:

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-To-Business B2bmarketing

Global Marketing

Marketing Research in the Era of Big Data

Relationship Marketing and Customer Relationship Management Crm

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, wholesalers, and Direct Marketers

Integrated Marketing Communications, advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Exam 9: Market Segmentation, targeting, and Positioning

List out the different positioning approaches followed by marketers.Give an example for each.

In the process of market segmentation,once the market potential of the segments has been estimated,the next step is to:

If a company markets a consumer product,such as toilet paper,in bulk quantities to the entire market,it is involved in micromarketing.

An undifferentiated marketing strategy:

The revised VALS framework categories consumers by characteristics that correlate with _____.

Segmentation by benefits sought is a product-related segmentation approach that:

The 80/20 principle states that:

"For the same dollars that you spend on a no-frills ticket to Los Angeles,fly Business Class with us!" is the advertising statement issued by FlyHigh Airlines.It represents an attempt by FlyHigh Airlines to position itself with respect to its competitors.

Developing a relevant user profile is the first step in the market segmentation process.How are segment profiles used to identify the typical customer in each segment?​

A young single person setting up an apartment for the first time is most likely to be a good prospect for:

Marketers must consider the advantages and disadvantages of each marketing strategy as they choose which one is the best fit for their firm.You have chosen to market your company's product using a differentiated marketing strategy.What disadvantage will you face?​

Once the total market potential has been estimated by a firm,the next step in the market segmentation process is to forecast the probable market share.

The lumber that a carpenter purchases to make a table for a customer can be classified as a(n):

The division of the total market into smaller,homogenous groups is called _____.

Geographic indicators such as job growth give useful guidance to marketers,depending on the type of products they sell.

The four basic determinants of a market-specific segmentation strategy include company resources,competitors' strategies,stage in the product lifecycle,and:

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-To-Business B2bmarketing

Global Marketing

Marketing Research in the Era of Big Data

Relationship Marketing and Customer Relationship Management Crm

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, wholesalers, and Direct Marketers

Integrated Marketing Communications, advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Developing a relevant user profile is the first step in the market segmentation process.How are segment profiles used to identify the typical customer in each segment?

Marketers must consider the advantages and disadvantages of each marketing strategy as they choose which one is the best fit for their firm.You have chosen to market your company's product using a differentiated marketing strategy.What disadvantage will you face?