Question 1

Which of the following statements about market segmentation is NOT TRUE?

Accepted Answer

A)  It starts by segmenting broad product-markets. 
B)  It involves naming broad product-markets. 
C)  A market grid with submarkets can be a visual aid to market segmentation. 
D)  It segments broad product-markets in order to develop suitable marketing mixes. 
E)  First-time market segmentation efforts often fail. 
A)  It starts by segmenting broad product-markets. 
B)  It involves naming broad product-markets. 
C)  A market grid with submarkets can be a visual aid to market segmentation. 
D)  It segments broad product-markets in order to develop suitable marketing mixes. 
E)  First-time market segmentation efforts often fail.

Question 2

Strategy decisions pertaining to product features, packaging, product line assortment, and branding will be most affected by which target market dimension?

Accepted Answer

A)  Geographic location. 
B)  Urgency to get need satisfied. 
C)  Behavioral needs and attitudes of consumers. 
D)  Demographic characteristics of potential customers. 
E)  Geodemographic characteristics of potential customers. 
A)  Geographic location. 
B)  Urgency to get need satisfied. 
C)  Behavioral needs and attitudes of consumers. 
D)  Demographic characteristics of potential customers. 
E)  Geodemographic characteristics of potential customers.

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

Using one or two demographic dimensions to describe market segments usually does not provide enough detail for planning a marketing strategy.

Accepted Answer

A) True 
 B)False

Question 5

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 6

Unlike a generic market description, a product-market definition includes

Accepted Answer

A)  customer needs. 
B)  customer types. 
C)  geographic area. 
D)  product type. 
E)  organization chart. 
A)  customer needs. 
B)  customer types. 
C)  geographic area. 
D)  product type. 
E)  organization chart.

Question 7

A determining dimension for segmenting markets actually affects the purchase of a specific brand in a product-market.

Accepted Answer

A) True 
 B)False

Question 8

"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 9

Given its interest in the broad product-market for "ready-to-eat, health-conscious snack foods," which of the following should the GoodHealth Foods Co. do FIRST?

Accepted Answer

A)  Develop a plan for getting support from intermediaries. 
B)  Develop each of the four Ps at the same time. 
C)  Segment the product-market to try to identify homogeneous submarkets and select an attractive target market. 
D)  Determine whether to compete on a price basis. 
E)  Decide what low-fat product or products it will offer. 
A)  Develop a plan for getting support from intermediaries. 
B)  Develop each of the four Ps at the same time. 
C)  Segment the product-market to try to identify homogeneous submarkets and select an attractive target market. 
D)  Determine whether to compete on a price basis. 
E)  Decide what low-fat product or products it will offer.

Question 10

Making a very specific marketing mix for a particular group is always less profitable than a more general marketing mix that appeals to a larger segment.

Accepted Answer

A) True 
 B)False

Question 11

If geographic location and other demographic characteristics are used as target market dimensions, which potential strategy decision area is mostly likely to be affected?

Accepted Answer

A)  Promotion - what potential customers need. 
B)  Target markets - size. 
C)  Price - what customers might be willing to pay. 
D)  Product line assortment. 
E)  Product - which features to include. 
A)  Promotion - what potential customers need. 
B)  Target markets - size. 
C)  Price - what customers might be willing to pay. 
D)  Product line assortment. 
E)  Product - which features to include.

Question 12

Sanders Beverages, Inc., is targeting non-juice drinkers with a new line of healthy fruit juices. Identify the segmenting dimension most likely being used by Sanders Beverages.

Accepted Answer

A)  Geographic 
B)  Behavioral 
C)  Geodemographic 
D)  Demographic 
E)  Urgency to get need satisfied 
A)  Geographic 
B)  Behavioral 
C)  Geodemographic 
D)  Demographic 
E)  Urgency to get need satisfied

Question 13

Market segmentation:

Accepted Answer

A)  means the same thing as marketing strategy planning. 
B)  assumes that most submarkets can be satisfied by the same marketing mix. 
C)  is the same thing as positioning. 
D)  tries to identify homogeneous submarkets within a product-market. 
E)  None of these choices regarding market segmentation is true. 
A)  means the same thing as marketing strategy planning. 
B)  assumes that most submarkets can be satisfied by the same marketing mix. 
C)  is the same thing as positioning. 
D)  tries to identify homogeneous submarkets within a product-market. 
E)  None of these choices regarding market segmentation is true.

Question 14

Computer-aided segmenting approaches eliminate the need for managerial judgment and intuition in selecting segmenting dimensions.

Accepted Answer

A) True 
 B)False

Question 15

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 16

______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.

Accepted Answer

A)  Market segmentation 
B)  Strategic planning 
C)  Mass marketing 
D)  Market positioning 
E)  Implementation 
A)  Market segmentation 
B)  Strategic planning 
C)  Mass marketing 
D)  Market positioning 
E)  Implementation

Question 17

A cluster analysis of the "toothpaste market" would probably show that:

Accepted Answer

A)  the broad product-market can be served effectively with one marketing mix. 
B)  most consumers are mainly concerned about brightness of teeth. 
C)  factors such as taste, price, and "sex appeal" are not important. 
D)  different market segments seek different product benefits. 
E)  None of these alternatives is correct. 
A)  the broad product-market can be served effectively with one marketing mix. 
B)  most consumers are mainly concerned about brightness of teeth. 
C)  factors such as taste, price, and "sex appeal" are not important. 
D)  different market segments seek different product benefits. 
E)  None of these alternatives is correct.

Question 18

In segmenting the cell phone user product-market, cell phone maker Super Cellular found one segment that valued sending text messages and another that wanted their phone to play MP3 music files. The firm developed a single handset for both market segments and used the same marketing mix in targeting both segments. For this product-market, Super Cellular operated as a ____.

Accepted Answer

A)  combiner 
B)  value operator 
C)  market leader 
D)  segmenter 
E)  multi-segmenter 
A)  combiner 
B)  value operator 
C)  market leader 
D)  segmenter 
E)  multi-segmenter

Question 19

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 20

In a generic market,

Accepted Answer

A)  diverse types of products may compete for customers. 
B)  customers have broadly similar needs. 
C)  there may be many ways to satisfy customers' needs. 
D)  sellers may compete in different product-markets. 
E)  All of these are correct for a generic market. 
A)  diverse types of products may compete for customers. 
B)  customers have broadly similar needs. 
C)  there may be many ways to satisfy customers' needs. 
D)  sellers may compete in different product-markets. 
E)  All of these are correct for a generic market.

Which of the following statements about market segmentation is NOT TRUE?

Strategy decisions pertaining to product features, packaging, product line assortment, and branding will be most affected by which target market dimension?

Clustering techniques applied to segmenting markets

Using one or two demographic dimensions to describe market segments usually does not provide enough detail for planning a marketing strategy.

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:

Unlike a generic market description, a product-market definition includes

A determining dimension for segmenting markets actually affects the purchase of a specific brand in a product-market.

"Positioning" might cause a marketing manager to:

Given its interest in the broad product-market for "ready-to-eat, health-conscious snack foods," which of the following should the GoodHealth Foods Co. do FIRST?

Making a very specific marketing mix for a particular group is always less profitable than a more general marketing mix that appeals to a larger segment.

If geographic location and other demographic characteristics are used as target market dimensions, which potential strategy decision area is mostly likely to be affected?

Sanders Beverages, Inc., is targeting non-juice drinkers with a new line of healthy fruit juices. Identify the segmenting dimension most likely being used by Sanders Beverages.

Market segmentation:

Computer-aided segmenting approaches eliminate the need for managerial judgment and intuition in selecting segmenting dimensions.

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

______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.

A cluster analysis of the "toothpaste market" would probably show that:

A product-market is one in which

In a generic market,

Marketing39s 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

Promotion - Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Economics Fundamentals

Marketing Arithmetic

Filters

Exam 4: Focusing Marketing Strategy With Segmentation and Positioning

Which of the following statements about market segmentation is NOT TRUE?

Strategy decisions pertaining to product features, packaging, product line assortment, and branding will be most affected by which target market dimension?

Clustering techniques applied to segmenting markets

Using one or two demographic dimensions to describe market segments usually does not provide enough detail for planning a marketing strategy.

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:

Unlike a generic market description, a product-market definition includes

A determining dimension for segmenting markets actually affects the purchase of a specific brand in a product-market.

"Positioning" might cause a marketing manager to:

Given its interest in the broad product-market for "ready-to-eat, health-conscious snack foods," which of the following should the GoodHealth Foods Co. do FIRST?

Making a very specific marketing mix for a particular group is always less profitable than a more general marketing mix that appeals to a larger segment.

If geographic location and other demographic characteristics are used as target market dimensions, which potential strategy decision area is mostly likely to be affected?

Sanders Beverages, Inc., is targeting non-juice drinkers with a new line of healthy fruit juices. Identify the segmenting dimension most likely being used by Sanders Beverages.

Market segmentation:

Computer-aided segmenting approaches eliminate the need for managerial judgment and intuition in selecting segmenting dimensions.

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

______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.

A cluster analysis of the "toothpaste market" would probably show that:

A product-market is one in which

In a generic market,

Marketing39s 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

Promotion - Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Economics Fundamentals

Marketing Arithmetic

Filters