Question 1

Which of the following offers a firm the greatest potential for profit?

Accepted Answer

A)  Mass marketing 
B)  The multiple target market approach 
C)  The combined target market approach 
D)  The single target market approach 
E)  Any of these-depending on the situation. 
A)  Mass marketing 
B)  The multiple target market approach 
C)  The combined target market approach 
D)  The single target market approach 
E)  Any of these-depending on the situation.

Question 2

In the seven-step approach to market segmentation, it is best to identify the relevant needs of all potential customers BEFORE trying to form homogeneous submarkets.

Accepted Answer

A) True 
 B)False

Question 3

Planning marketing strategies for international markets:

Accepted Answer

A)  is usually most effective when the marketing manager uses the same marketing strategy for all markets. 
B)  is often easier than planning domestic strategies because economic, political, and other uncontrollable variables are less important. 
C)  is "easy" because each country should be treated as one target market. 
D)  None of these alternatives is true. 
A)  is usually most effective when the marketing manager uses the same marketing strategy for all markets. 
B)  is often easier than planning domestic strategies because economic, political, and other uncontrollable variables are less important. 
C)  is "easy" because each country should be treated as one target market. 
D)  None of these alternatives is true.

Question 4

A "market" consists of:

Accepted Answer

A)  customers who are willing to exchange something of value. 
B)  a group of potential customers with similar needs. 
C)  sellers offering various ways of satisfying customer needs. 
D)  All of these are correct. 
A)  customers who are willing to exchange something of value. 
B)  a group of potential customers with similar needs. 
C)  sellers offering various ways of satisfying customer needs. 
D)  All of these are correct.

Question 5

In the seven-step approach, submarkets are nicknamed based on the qualifying dimensions and a description of the customer types.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following statements about positioning is NOT true?

Accepted Answer

A)  It often makes use of techniques such as perceptual mapping. 
B)  It refers to how customers think about proposed or present brands in a market. 
C)  Positioning issues are especially important when competitors in a market are very dissimilar. 
D)  It helps marketing managers know how customers view the firm's offering. 
E)  Managers make graphs for positioning decisions by asking consumers to make judgments about different brands. 
A)  It often makes use of techniques such as perceptual mapping. 
B)  It refers to how customers think about proposed or present brands in a market. 
C)  Positioning issues are especially important when competitors in a market are very dissimilar. 
D)  It helps marketing managers know how customers view the firm's offering. 
E)  Managers make graphs for positioning decisions by asking consumers to make judgments about different brands.

Question 7

"Qualifying dimensions," in contrast to "determining dimensions,"

Accepted Answer

A)  are the only kind of dimensions useful for marketing strategy planning. 
B)  indicate whether a person might be a potential customer but do not show which product or brand that person might buy. 
C)  are the customer-related dimensions in a product-market. 
D)  affect the product or brand a person is likely to purchase. 
E)  None of these alternatives is correct. 
A)  are the only kind of dimensions useful for marketing strategy planning. 
B)  indicate whether a person might be a potential customer but do not show which product or brand that person might buy. 
C)  are the customer-related dimensions in a product-market. 
D)  affect the product or brand a person is likely to purchase. 
E)  None of these alternatives is correct.

Question 8

Gina Williams wanted to start a decorating business. She identified several possible target markets, but decided to serve a market composed of recently married couples that owned their first home. Gina appears to be following:

Accepted Answer

A)  A multiple target market approach. 
B)  A single target market approach. 
C)  A combined target market approach. 
D)  A mass marketing approach. 
E)  None of these approaches is correct. 
A)  A multiple target market approach. 
B)  A single target market approach. 
C)  A combined target market approach. 
D)  A mass marketing approach. 
E)  None of these approaches is correct.

Question 9

_____ aim at one or more homogeneous segments and try to develop a different marketing mix for each segment.

Accepted Answer

A)  Combiners 
B)  Segmenters 
C)  Segment aggregators 
D)  Segment combiners 
E)  Multipliers 
A)  Combiners 
B)  Segmenters 
C)  Segment aggregators 
D)  Segment combiners 
E)  Multipliers

Question 10

A personality trait like moodiness is a good example of an "operational" segmenting dimension.

Accepted Answer

A) True 
 B)False

Question 11

A food processor considering snack-food opportunities identified three possible market segments and gave them "nicknames": the dieters, health faddists, and nutrition-conscious parents. It developed a marketing mix around a line of good tasting, nutritious children's snacks. The firm is apparently

Accepted Answer

A)  relying on cluster analysis techniques. 
B)  using a multiple target market approach. 
C)  using a single target market approach. 
D)  using a combined target market approach. 
E)  ignoring the criteria that good market segments should be operational. 
A)  relying on cluster analysis techniques. 
B)  using a multiple target market approach. 
C)  using a single target market approach. 
D)  using a combined target market approach. 
E)  ignoring the criteria that good market segments should be operational.

Question 12

Which of the following is not a valid criterion of a "good" market segment?

Accepted Answer

A)  Homogeneous within 
B)  Heterogeneous between 
C)  Substantial 
D)  Remarkable 
E)  Operational 
A)  Homogeneous within 
B)  Heterogeneous between 
C)  Substantial 
D)  Remarkable 
E)  Operational

Question 13

A market is a group of competitors selling similar products.

Accepted Answer

A) True 
 B)False

Question 14

Clustering techniques can be used in segmenting to help find similar patterns within sets of data-to identify homogeneous groups of people.

Accepted Answer

A) True 
 B)False

Question 15

A product-market is one in which

Accepted Answer

A)  products from different industries compete for customers by trying to satisfy the same basic need. 
B)  price is the determining factor in deciding which brand to buy. 
C)  all of the customers want the exact same product but will consider a substitute if their preferred brand is not available. 
D)  one seller has a monopoly and there is no competition. 
E)  None of these alternatives is true. 
A)  products from different industries compete for customers by trying to satisfy the same basic need. 
B)  price is the determining factor in deciding which brand to buy. 
C)  all of the customers want the exact same product but will consider a substitute if their preferred brand is not available. 
D)  one seller has a monopoly and there is no competition. 
E)  None of these alternatives is true.

Question 16

When major airlines target business travelers because they travel often and typically pay at least three times the price for a ticket as leisure travelers, these airlines are segmenting the market primarily on:

Accepted Answer

A)  income. 
B)  education. 
C)  rate of use. 
D)  ethnicity. 
E)  age. 
A)  income. 
B)  education. 
C)  rate of use. 
D)  ethnicity. 
E)  age.

Question 17

Electro Technologies, Inc. (ETI) has limited capital and wants to reduce the risk of competitors taking customers if it invests in a new product-market. Its broad product-market consists of three reasonably distinct submarkets. To identify a target market, ETI should probably focus on using the __________ approach.

Accepted Answer

A)  combined target market 
B)  mass marketing 
C)  multiple target market 
D)  single target market 
E)  None of these is a good choice for Electro Technologies. 
A)  combined target market 
B)  mass marketing 
C)  multiple target market 
D)  single target market 
E)  None of these is a good choice for Electro Technologies.

Question 18

CRM is a variation of the positioning approach.

Accepted Answer

A) True 
 B)False

Question 19

A generic market description should NOT include any:

Accepted Answer

A)  customer needs. 
B)  geographic area. 
C)  competitors' names. 
D)  customer types. 
E)  All of these should be included in a generic market description. 
A)  customer needs. 
B)  geographic area. 
C)  competitors' names. 
D)  customer types. 
E)  All of these should be included in a generic market description.

Question 20

The first step in segmenting international markets is to:

Accepted Answer

A)  develop a marketing mix. 
B)  treat all the countries in the "foreign market" as one segment. 
C)  segment by country or region-looking at demographic, cultural, and other characteristics. 
D)  list the suppliers who serve the market. 
E)  consider the number, size, kind, and location of business and organizational customers. 
A)  develop a marketing mix. 
B)  treat all the countries in the "foreign market" as one segment. 
C)  segment by country or region-looking at demographic, cultural, and other characteristics. 
D)  list the suppliers who serve the market. 
E)  consider the number, size, kind, and location of business and organizational customers.

Which of the following offers a firm the greatest potential for profit?

In the seven-step approach to market segmentation, it is best to identify the relevant needs of all potential customers BEFORE trying to form homogeneous submarkets.

Planning marketing strategies for international markets:

A "market" consists of:

In the seven-step approach, submarkets are nicknamed based on the qualifying dimensions and a description of the customer types.

Which of the following statements about positioning is NOT true?

"Qualifying dimensions," in contrast to "determining dimensions,"

Gina Williams wanted to start a decorating business. She identified several possible target markets, but decided to serve a market composed of recently married couples that owned their first home. Gina appears to be following:

_____ aim at one or more homogeneous segments and try to develop a different marketing mix for each segment.

A personality trait like moodiness is a good example of an "operational" segmenting dimension.

A food processor considering snack-food opportunities identified three possible market segments and gave them "nicknames": the dieters, health faddists, and nutrition-conscious parents. It developed a marketing mix around a line of good tasting, nutritious children's snacks. The firm is apparently

Which of the following is not a valid criterion of a "good" market segment?

A market is a group of competitors selling similar products.

Clustering techniques can be used in segmenting to help find similar patterns within sets of data-to identify homogeneous groups of people.

A product-market is one in which

When major airlines target business travelers because they travel often and typically pay at least three times the price for a ticket as leisure travelers, these airlines are segmenting the market primarily on:

CRM is a variation of the positioning approach.

A generic market description should NOT include any:

The first step in segmenting international markets is to:

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

Which of the following offers a firm the greatest potential for profit?

In the seven-step approach to market segmentation, it is best to identify the relevant needs of all potential customers BEFORE trying to form homogeneous submarkets.

Planning marketing strategies for international markets:

A "market" consists of:

In the seven-step approach, submarkets are nicknamed based on the qualifying dimensions and a description of the customer types.

Which of the following statements about positioning is NOT true?

"Qualifying dimensions," in contrast to "determining dimensions,"

Gina Williams wanted to start a decorating business. She identified several possible target markets, but decided to serve a market composed of recently married couples that owned their first home. Gina appears to be following:

_____ aim at one or more homogeneous segments and try to develop a different marketing mix for each segment.

A personality trait like moodiness is a good example of an "operational" segmenting dimension.

A food processor considering snack-food opportunities identified three possible market segments and gave them "nicknames": the dieters, health faddists, and nutrition-conscious parents. It developed a marketing mix around a line of good tasting, nutritious children's snacks. The firm is apparently

Which of the following is not a valid criterion of a "good" market segment?

A market is a group of competitors selling similar products.

Clustering techniques can be used in segmenting to help find similar patterns within sets of data-to identify homogeneous groups of people.

A product-market is one in which

When major airlines target business travelers because they travel often and typically pay at least three times the price for a ticket as leisure travelers, these airlines are segmenting the market primarily on:

CRM is a variation of the positioning approach.

A generic market description should NOT include any:

The first step in segmenting international markets is to:

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