Question 1

Positioning analysis may lead a firm to segmenting, rather than combining.

Accepted Answer

A) True 
 B)False

Question 2

When using the seven-step approach for segmenting product-markets, one should brainstorm potential customer needs after defining the broad product-market.

Accepted Answer

A) True 
 B)False

Question 3

Clustering techniques applied to segmenting markets

Accepted Answer

A)  usually require computers to group people based on data from market research. 
B)  remove the need for managerial judgment. 
C)  eliminate the need for marketing managers to specify in advance what dimensions might be relevant for grouping consumers. 
D)  All of these alternatives about clustering techniques are true. 
A)  usually require computers to group people based on data from market research. 
B)  remove the need for managerial judgment. 
C)  eliminate the need for marketing managers to specify in advance what dimensions might be relevant for grouping consumers. 
D)  All of these alternatives about clustering techniques are true.

Question 4

Compared to a product-market, a generic market:

Accepted Answer

A)  Is more narrowly defined. 
B)  Has sellers offering a more diverse set of products. 
C)  Can never help marketers identify opportunities. 
D)  None of these is a good answer. 
A)  Is more narrowly defined. 
B)  Has sellers offering a more diverse set of products. 
C)  Can never help marketers identify opportunities. 
D)  None of these is a good answer.

Question 5

A segmenter is more likely than a combiner to really satisfy a target market and build such a close relationship with customers that it faces no real competition.

Accepted Answer

A) True 
 B)False

Question 6

A complete product-market definition includes a four-part description comprising all of the following except

Accepted Answer

A)  geographic area. 
B)  customer needs. 
C)  customer types. 
D)  product type. 
E)  marketing mix. 
A)  geographic area. 
B)  customer needs. 
C)  customer types. 
D)  product type. 
E)  marketing mix.

Question 7

Planning Place and Promotion elements of a marketing mix is especially difficult if the dimensions of a product-market are not operational.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following segmenting dimensions probably would be LEAST LIKELY to result in segments that would meet the criteria that product-market segments should be "operational?"

Accepted Answer

A)  Geographic region. 
B)  Personality. 
C)  Family size. 
D)  Age. 
E)  Income level. 
A)  Geographic region. 
B)  Personality. 
C)  Family size. 
D)  Age. 
E)  Income level.

Question 9

The process of marketing strategy planning is about:

Accepted Answer

A)  identifying as many market opportunities as can be imagined. 
B)  narrowing down possible market opportunities to the most attractive ones. 
C)  creating products that managers like. 
D)  choosing the most profitable market opportunity, regardless of the firm's current abilities and resources. 
E)  figuring out how to offer products at the lowest possible price. 
A)  identifying as many market opportunities as can be imagined. 
B)  narrowing down possible market opportunities to the most attractive ones. 
C)  creating products that managers like. 
D)  choosing the most profitable market opportunity, regardless of the firm's current abilities and resources. 
E)  figuring out how to offer products at the lowest possible price.

Question 10

Which of the following is LEAST likely to compete in the same generic market with the others?

Accepted Answer

A)  Garlic powder. 
B)  Pepper. 
C)  Tabasco sauce. 
D)  Salt. 
E)  Potato chips. 
A)  Garlic powder. 
B)  Pepper. 
C)  Tabasco sauce. 
D)  Salt. 
E)  Potato chips.

Question 11

A "good" market segment should be composed of people who are as homogeneous as possible with respect to their likely responses to marketing mix variables.

Accepted Answer

A) True 
 B)False

Question 12

With the "multiple target market approach" the marketer combines two or more homogeneous submarkets into one larger target market as a basis for one strategy.

Accepted Answer

A) True 
 B)False

Question 13

Clustering techniques try to find similar patterns within sets of data.

Accepted Answer

A) True 
 B)False

Question 14

"Positioning":

Accepted Answer

A)  applies to new products-but not existing products. 
B)  helps strategy planners see how customers view competitors' offerings. 
C)  is concerned with obtaining the best shelf space in retail outlets. 
D)  is useful for combining but not for segmenting. 
E)  eliminates the need for judgment in strategy planning. 
A)  applies to new products-but not existing products. 
B)  helps strategy planners see how customers view competitors' offerings. 
C)  is concerned with obtaining the best shelf space in retail outlets. 
D)  is useful for combining but not for segmenting. 
E)  eliminates the need for judgment in strategy planning.

Question 15

______________ segmenting dimensions are those which actually affect a person's purchase of a specific product type or brand in a product-market.

Accepted Answer

A)  Operational 
B)  Qualifying 
C)  Customer-related 
D)  Determining 
E)  Situation-related 
A)  Operational 
B)  Qualifying 
C)  Customer-related 
D)  Determining 
E)  Situation-related

Question 16

The first step in the seven-step approach for segmenting product-markets is to

Accepted Answer

A)  select the broad product-market. 
B)  identify potential customers' needs. 
C)  form homogeneous submarkets. 
D)  identify the determining dimensions. 
E)  estimate the size of each product-market segment. 
A)  select the broad product-market. 
B)  identify potential customers' needs. 
C)  form homogeneous submarkets. 
D)  identify the determining dimensions. 
E)  estimate the size of each product-market segment.

Question 17

A target marketer who uses a single marketing mix strategy to appeal to both office tablet computer users and home tablet computer users is applying:

Accepted Answer

A)  the broad market approach. 
B)  the single target market approach. 
C)  the multiple target market approach. 
D)  the combined target market approach. 
E)  the generic market approach. 
A)  the broad market approach. 
B)  the single target market approach. 
C)  the multiple target market approach. 
D)  the combined target market approach. 
E)  the generic market approach.

Question 18

A ______________ market is a market with broadly similar needs and sellers offering various-and often diverse-ways of satisfying those needs.

Accepted Answer

A)  homogeneous 
B)  product 
C)  relevant 
D)  generic 
E)  target 
A)  homogeneous 
B)  product 
C)  relevant 
D)  generic 
E)  target

Question 19

A returning customer to a hotel chain books a room online. When she arrives, she finds that the hotel has used its database of previous customer preferences to assign her a room on the top floor with the type of pillow she prefers. What target market approach is this chain using?

Accepted Answer

A)  Segment of one 
B)  Combined 
C)  Multiple 
D)  Clustering 
E)  Single 
A)  Segment of one 
B)  Combined 
C)  Multiple 
D)  Clustering 
E)  Single

Question 20

The seven-step approach to market segmentation uses a S.W.O.T. analysis.

Accepted Answer

A) True 
 B)False

Positioning analysis may lead a firm to segmenting, rather than combining.

When using the seven-step approach for segmenting product-markets, one should brainstorm potential customer needs after defining the broad product-market.

Clustering techniques applied to segmenting markets

Compared to a product-market, a generic market:

A segmenter is more likely than a combiner to really satisfy a target market and build such a close relationship with customers that it faces no real competition.

A complete product-market definition includes a four-part description comprising all of the following except

Planning Place and Promotion elements of a marketing mix is especially difficult if the dimensions of a product-market are not operational.

Which of the following segmenting dimensions probably would be LEAST LIKELY to result in segments that would meet the criteria that product-market segments should be "operational?"

The process of marketing strategy planning is about:

Which of the following is LEAST likely to compete in the same generic market with the others?

A "good" market segment should be composed of people who are as homogeneous as possible with respect to their likely responses to marketing mix variables.

With the "multiple target market approach" the marketer combines two or more homogeneous submarkets into one larger target market as a basis for one strategy.

Clustering techniques try to find similar patterns within sets of data.

"Positioning":

______________ segmenting dimensions are those which actually affect a person's purchase of a specific product type or brand in a product-market.

The first step in the seven-step approach for segmenting product-markets is to

A target marketer who uses a single marketing mix strategy to appeal to both office tablet computer users and home tablet computer users is applying:

A ______________ market is a market with broadly similar needs and sellers offering various-and often diverse-ways of satisfying those needs.

A returning customer to a hotel chain books a room online. When she arrives, she finds that the hotel has used its database of previous customer preferences to assign her a room on the top floor with the type of pillow she prefers. What target market approach is this chain using?

The seven-step approach to market segmentation uses a S.W.O.T. analysis.

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

Positioning analysis may lead a firm to segmenting, rather than combining.

When using the seven-step approach for segmenting product-markets, one should brainstorm potential customer needs after defining the broad product-market.

Clustering techniques applied to segmenting markets

Compared to a product-market, a generic market:

A segmenter is more likely than a combiner to really satisfy a target market and build such a close relationship with customers that it faces no real competition.

A complete product-market definition includes a four-part description comprising all of the following except

Planning Place and Promotion elements of a marketing mix is especially difficult if the dimensions of a product-market are not operational.

Which of the following segmenting dimensions probably would be LEAST LIKELY to result in segments that would meet the criteria that product-market segments should be "operational?"

The process of marketing strategy planning is about:

Which of the following is LEAST likely to compete in the same generic market with the others?

A "good" market segment should be composed of people who are as homogeneous as possible with respect to their likely responses to marketing mix variables.

With the "multiple target market approach" the marketer combines two or more homogeneous submarkets into one larger target market as a basis for one strategy.

Clustering techniques try to find similar patterns within sets of data.

"Positioning":

______________ segmenting dimensions are those which actually affect a person's purchase of a specific product type or brand in a product-market.

The first step in the seven-step approach for segmenting product-markets is to

A target marketer who uses a single marketing mix strategy to appeal to both office tablet computer users and home tablet computer users is applying:

A ______________ market is a market with broadly similar needs and sellers offering various-and often diverse-ways of satisfying those needs.

A returning customer to a hotel chain books a room online. When she arrives, she finds that the hotel has used its database of previous customer preferences to assign her a room on the top floor with the type of pillow she prefers. What target market approach is this chain using?

The seven-step approach to market segmentation uses a S.W.O.T. analysis.

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