Question 1

"Too much" aggregating in market segmenting

Accepted Answer

A)  ignores the criterion that product-market segments should be substantial. 
B)  leaves the firm vulnerable to competitors. 
C)  is usually not a very serious error because it results in economies of scale. 
D)  usually makes segments more homogeneous. 
E)  None of these is true. 
A)  ignores the criterion that product-market segments should be substantial. 
B)  leaves the firm vulnerable to competitors. 
C)  is usually not a very serious error because it results in economies of scale. 
D)  usually makes segments more homogeneous. 
E)  None of these is true.

Question 2

The correct number of submarkets in a broad product-market is usually obvious, so the likelihood of managerial error is small.

Accepted Answer

A) True 
 B)False

Question 3

Dimensions that should be looked at when segmenting consumer markets are: geographic location and other demographic characteristics, behavioral needs, urgency to get needs satisfied, and willingness to compare and shop.

Accepted Answer

A) True 
 B)False

Question 4

"Positioning" might cause a marketing manager to:

Accepted Answer

A)  introduce a new product for a segment with unsatisfied needs. 
B)  change a product's promotion to make its image fit more closely with the needs and attitudes of the target market. 
C)  shift attention to another market segment where competition is weaker. 
D)  physically change his or her product to compete more effectively with a competitor aiming at the same target market. 
E)  Any of these could be true. 
A)  introduce a new product for a segment with unsatisfied needs. 
B)  change a product's promotion to make its image fit more closely with the needs and attitudes of the target market. 
C)  shift attention to another market segment where competition is weaker. 
D)  physically change his or her product to compete more effectively with a competitor aiming at the same target market. 
E)  Any of these could be true.

Question 5

Alpine Auto Repair keeps a record of customer oil changes and sends a reminder postcard to its customers when it's time for the next oil change. This is an example of a ______ system.

Accepted Answer

A)  customer relationship management 
B)  qualifying dimensions 
C)  a positioning matrix 
D)  geographic targeting 
E)  clustering 
A)  customer relationship management 
B)  qualifying dimensions 
C)  a positioning matrix 
D)  geographic targeting 
E)  clustering

Question 6

A transistor radio, an MP3 player, and a portable CD player might compete in the same

Accepted Answer

A)  single target market. 
B)  multiple target market. 
C)  product-market. 
D)  combined target market. 
E)  generic market. 
A)  single target market. 
B)  multiple target market. 
C)  product-market. 
D)  combined target market. 
E)  generic market.

Question 7

Manufacturer, service provider, government agency, wholesaler, etc. are designations used to segment business and organizational markets according to _______________.

Accepted Answer

A)  kind of relationship 
B)  type of customer 
C)  demographics 
D)  product use 
E)  buying situation 
A)  kind of relationship 
B)  type of customer 
C)  demographics 
D)  product use 
E)  buying situation

Question 8

"Good" market segments should be homogeneous (similar) within, heterogeneous (different) between, substantial, and operational.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following statements about positioning is NOT true? Positioning techniques

Accepted Answer

A)  position products on a graph based on price level and quantity demanded. 
B)  require a firm to collect data about consumer perceptions of products. 
C)  are sometimes called "perceptual mapping" techniques. 
D)  typically rely on a "product space" diagram to show the relationship among various products. 
E)  may use information about consumers' "ideal" products, so that the preferences of different segments of consumers can be considered. 
A)  position products on a graph based on price level and quantity demanded. 
B)  require a firm to collect data about consumer perceptions of products. 
C)  are sometimes called "perceptual mapping" techniques. 
D)  typically rely on a "product space" diagram to show the relationship among various products. 
E)  may use information about consumers' "ideal" products, so that the preferences of different segments of consumers can be considered.

Question 10

A product-market is one

Accepted Answer

A)  in which exchanges are based on barter rather than money. 
B)  where one seller has a patent for a superior product and other firms try to imitate the leader the best they can. 
C)  where all of the customers want the same product but will consider a substitute if their preferred brand is not available. 
D)  in which competing sellers offer physically or conceptually similar products. 
E)  in which no intermediaries operate. 
A)  in which exchanges are based on barter rather than money. 
B)  where one seller has a patent for a superior product and other firms try to imitate the leader the best they can. 
C)  where all of the customers want the same product but will consider a substitute if their preferred brand is not available. 
D)  in which competing sellers offer physically or conceptually similar products. 
E)  in which no intermediaries operate.

Question 11

The combined target market approach involves segmenting the market and choosing two or more segments, then treating each as a separate target market needing a different marketing mix.

Accepted Answer

A) True 
 B)False

Question 12

Tom and Sally Jones are preparing to purchase a new car. He currently has a Toyota Camry and she has a Honda Accord. They now have two children under age 5, so they plan to trade in Sally's car to purchase a minivan. Sally and Tom decided on a Honda Odyssey because Sally is familiar with Hondas and thinks they are very reliable. In this purchase situation, Tom and Sally's family life cycle stage is a _____________ segmenting dimension, and the benefit Sally seeks (reliability) is a _____________ segmenting dimension.

Accepted Answer

A)  geographic; demographic 
B)  demographic; behavioral 
C)  geographic; behavioral 
D)  demographic; geographic 
E)  behavioral; demographic 
A)  geographic; demographic 
B)  demographic; behavioral 
C)  geographic; behavioral 
D)  demographic; geographic 
E)  behavioral; demographic

Question 13

BEHAVIORAL (rather than DEMOGRAPHIC) segmenting dimensions include:

Accepted Answer

A)  type of problem-solving. 
B)  kind of shopping. 
C)  brand familiarity. 
D)  benefits sought. 
E)  All of these are behavioral dimensions. 
A)  type of problem-solving. 
B)  kind of shopping. 
C)  brand familiarity. 
D)  benefits sought. 
E)  All of these are behavioral dimensions.

Question 14

As shown in the discussion of the 7-step approach, determining dimensions rarely change.

Accepted Answer

A) True 
 B)False

Question 15

Cost considerations usually favor more aggregating and larger market segments, but smaller segments may be required to satisfy needs more exactly.

Accepted Answer

A) True 
 B)False

Question 16

The first step in segmenting international markets is to group countries that are close to each other into "common markets."

Accepted Answer

A) True 
 B)False

Question 17

"Good" market segments should be heterogeneous within and homogeneous between.

Accepted Answer

A) True 
 B)False

Question 18

Positioning issues are especially important when competitors in a market appear to be very similar.

Accepted Answer

A) True 
 B)False

Question 19

CRM approaches are based on information from detailed customer databases.

Accepted Answer

A) True 
 B)False

Question 20

A ____ is a group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services.

Accepted Answer

A)  segment 
B)  market 
C)  product 
D)  consumer forum 
E)  generic industry 
A)  segment 
B)  market 
C)  product 
D)  consumer forum 
E)  generic industry

"Too much" aggregating in market segmenting

The correct number of submarkets in a broad product-market is usually obvious, so the likelihood of managerial error is small.

Dimensions that should be looked at when segmenting consumer markets are: geographic location and other demographic characteristics, behavioral needs, urgency to get needs satisfied, and willingness to compare and shop.

"Positioning" might cause a marketing manager to:

Alpine Auto Repair keeps a record of customer oil changes and sends a reminder postcard to its customers when it's time for the next oil change. This is an example of a ______ system.

A transistor radio, an MP3 player, and a portable CD player might compete in the same

Manufacturer, service provider, government agency, wholesaler, etc. are designations used to segment business and organizational markets according to _______________.

"Good" market segments should be homogeneous (similar) within, heterogeneous (different) between, substantial, and operational.

Which of the following statements about positioning is NOT true? Positioning techniques

A product-market is one

The combined target market approach involves segmenting the market and choosing two or more segments, then treating each as a separate target market needing a different marketing mix.

BEHAVIORAL (rather than DEMOGRAPHIC) segmenting dimensions include:

As shown in the discussion of the 7-step approach, determining dimensions rarely change.

Cost considerations usually favor more aggregating and larger market segments, but smaller segments may be required to satisfy needs more exactly.

The first step in segmenting international markets is to group countries that are close to each other into "common markets."

"Good" market segments should be heterogeneous within and homogeneous between.

Positioning issues are especially important when competitors in a market appear to be very similar.

CRM approaches are based on information from detailed customer databases.

A ____ is a group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services.

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing Environment

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Implementing and Controlling Marketing Plans: Evolution and Revolution

Managing Marketings Link With Other Functional Areas

Ethical Marketing in a Consumer-Oriented World

Filters

Exam 4: Focusing Marketing Strategy With Segmentation and Positioning

"Too much" aggregating in market segmenting

The correct number of submarkets in a broad product-market is usually obvious, so the likelihood of managerial error is small.

Dimensions that should be looked at when segmenting consumer markets are: geographic location and other demographic characteristics, behavioral needs, urgency to get needs satisfied, and willingness to compare and shop.

"Positioning" might cause a marketing manager to:

Alpine Auto Repair keeps a record of customer oil changes and sends a reminder postcard to its customers when it's time for the next oil change. This is an example of a ______ system.

A transistor radio, an MP3 player, and a portable CD player might compete in the same

Manufacturer, service provider, government agency, wholesaler, etc. are designations used to segment business and organizational markets according to _______________.

"Good" market segments should be homogeneous (similar) within, heterogeneous (different) between, substantial, and operational.

Which of the following statements about positioning is NOT true? Positioning techniques

A product-market is one

The combined target market approach involves segmenting the market and choosing two or more segments, then treating each as a separate target market needing a different marketing mix.

BEHAVIORAL (rather than DEMOGRAPHIC) segmenting dimensions include:

As shown in the discussion of the 7-step approach, determining dimensions rarely change.

Cost considerations usually favor more aggregating and larger market segments, but smaller segments may be required to satisfy needs more exactly.

The first step in segmenting international markets is to group countries that are close to each other into "common markets."

"Good" market segments should be heterogeneous within and homogeneous between.

Positioning issues are especially important when competitors in a market appear to be very similar.

CRM approaches are based on information from detailed customer databases.

A ____ is a group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services.

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing Environment

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Implementing and Controlling Marketing Plans: Evolution and Revolution

Managing Marketings Link With Other Functional Areas

Ethical Marketing in a Consumer-Oriented World

Filters