Question 1

Which of the following is the best example of a "product-market?"

Accepted Answer

A)  The MP3 player market 
B)  The young adult exercise market 
C)  The software market 
D)  The convenience market 
E)  The status symbol market 
A)  The MP3 player market 
B)  The young adult exercise market 
C)  The software market 
D)  The convenience market 
E)  The status symbol market

Question 2

Which of the following criteria should a marketing manager use when segmenting a broad product-market?

Accepted Answer

A)  The segments should be operational--i.e., only quantitative dimensions are useful. 
B)  The people in different segments should be as heterogeneous as possible with respect to their likely response to marketing mix variables. 
C)  The people within a market segment should be as heterogeneous as possible with respect to their likely response to marketing mix variables. 
D)  The market segments should be substantial--i.e., big enough to minimize the firm's costs. 
E)  All of these criteria would be useful. 
A)  The segments should be operational--i.e., only quantitative dimensions are useful. 
B)  The people in different segments should be as heterogeneous as possible with respect to their likely response to marketing mix variables. 
C)  The people within a market segment should be as heterogeneous as possible with respect to their likely response to marketing mix variables. 
D)  The market segments should be substantial--i.e., big enough to minimize the firm's costs. 
E)  All of these criteria would be useful.

Question 3

______________ segmenting dimensions help decide whether a person might be a potential customer--but not which specific products or brands that person might buy.

Accepted Answer

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

Question 4

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 5

Which of the following is a possible danger when using a combining approach to target marketing?

Accepted Answer

A)  Competitors may do a better job appealing to submarkets. 
B)  Coordinating the different marketing mixes for the different segments is difficult. 
C)  The target market may become larger over time. 
D)  Economies of scale may develop. 
E)  All are dangers. 
A)  Competitors may do a better job appealing to submarkets. 
B)  Coordinating the different marketing mixes for the different segments is difficult. 
C)  The target market may become larger over time. 
D)  Economies of scale may develop. 
E)  All are dangers.

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

A marketing manager who is able to use qualifying dimensions in forming market segments will not need to worry about determining dimensions.

Accepted Answer

A) True 
 B)False

Question 8

"Positioning" shows how proposed and/or present brands are located in a market--as seen by customers.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is LEAST LIKELY to compete in the same generic market as the others?

Accepted Answer

A)  Ice cream. 
B)  Apple pie. 
C)  Fruit salad. 
D)  Chocolate chip cookie. 
E)  Pretzel. 
A)  Ice cream. 
B)  Apple pie. 
C)  Fruit salad. 
D)  Chocolate chip cookie. 
E)  Pretzel.

Question 10

"Homogeneous within" means that the customers in a market segment should be as similar as possible with respect to their likely responses to marketing mix variables and their segmenting dimensions.

Accepted Answer

A) True 
 B)False

Question 11

The main difference between a "product-market" and a "generic market" is whether customer needs are similar or different.

Accepted Answer

A) True 
 B)False

Question 12

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.

Question 13

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 14

Which of the following is the WORST example of a "generic market"?

Accepted Answer

A)  The information storage market. 
B)  The recreation market. 
C)  The designer jeans market. 
D)  The home improvement market. 
E)  The entertainment market. 
A)  The information storage market. 
B)  The recreation market. 
C)  The designer jeans market. 
D)  The home improvement market. 
E)  The entertainment market.

Question 15

Marketing-oriented managers see segmenting as a process of aggregating people with similar needs into a group.

Accepted Answer

A) True 
 B)False

Question 16

The first step in market segmentation should be:

Accepted Answer

A)  deciding what new product you could develop. 
B)  evaluating what segment(s) you currently serve. 
C)  finding a demographic group likely to use your products. 
D)  listing features of your current products. 
E)  defining some broad product-markets where you may be able to operate profitably. 
A)  deciding what new product you could develop. 
B)  evaluating what segment(s) you currently serve. 
C)  finding a demographic group likely to use your products. 
D)  listing features of your current products. 
E)  defining some broad product-markets where you may be able to operate profitably.

Question 17

If a company plans to sell its products to a market segment consisting of "outgoing personalities," this would NOT be a good market segment primarily because of which of the following criteria?

Accepted Answer

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

Question 18

A product-market is one in which

Accepted Answer

A)  demand is inelastic. 
B)  products that are close substitutes for each other compete for customers by trying to satisfy very similar needs. 
C)  breakthrough opportunities are no longer possible. 
D)  one seller has a patent for a superior product and other competitors try to imitate the leader. 
E)  All of these alternatives are true. 
A)  demand is inelastic. 
B)  products that are close substitutes for each other compete for customers by trying to satisfy very similar needs. 
C)  breakthrough opportunities are no longer possible. 
D)  one seller has a patent for a superior product and other competitors try to imitate the leader. 
E)  All of these alternatives are true.

Question 19

A product-market segment is "operational" if it is big enough to be profitable to the firm.

Accepted Answer

A) True 
 B)False

Question 20

A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.

Accepted Answer

A)  generic market 
B)  standard market 
C)  target market 
D)  global market 
E)  product-market 
A)  generic market 
B)  standard market 
C)  target market 
D)  global market 
E)  product-market

Which of the following is the best example of a "product-market?"

Which of the following criteria should a marketing manager use when segmenting a broad product-market?

______________ segmenting dimensions help decide whether a person might be a potential customer--but not which specific products or brands that person might buy.

A generic market description should NOT include any:

Which of the following is a possible danger when using a combining approach to target marketing?

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

A marketing manager who is able to use qualifying dimensions in forming market segments will not need to worry about determining dimensions.

"Positioning" shows how proposed and/or present brands are located in a market--as seen by customers.

Which of the following is LEAST LIKELY to compete in the same generic market as the others?

"Homogeneous within" means that the customers in a market segment should be as similar as possible with respect to their likely responses to marketing mix variables and their segmenting dimensions.

The main difference between a "product-market" and a "generic market" is whether customer needs are similar or different.

The first step in segmenting international markets is to:

Which of the following statements about positioning is NOT TRUE?

Which of the following is the WORST example of a "generic market"?

Marketing-oriented managers see segmenting as a process of aggregating people with similar needs into a group.

The first step in market segmentation should be:

If a company plans to sell its products to a market segment consisting of "outgoing personalities," this would NOT be a good market segment primarily because of which of the following criteria?

A product-market is one in which

A product-market segment is "operational" if it is big enough to be profitable to the firm.

A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.

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 is the best example of a "product-market?"

Which of the following criteria should a marketing manager use when segmenting a broad product-market?

______________ segmenting dimensions help decide whether a person might be a potential customer--but not which specific products or brands that person might buy.

A generic market description should NOT include any:

Which of the following is a possible danger when using a combining approach to target marketing?

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

A marketing manager who is able to use qualifying dimensions in forming market segments will not need to worry about determining dimensions.

"Positioning" shows how proposed and/or present brands are located in a market--as seen by customers.

Which of the following is LEAST LIKELY to compete in the same generic market as the others?

"Homogeneous within" means that the customers in a market segment should be as similar as possible with respect to their likely responses to marketing mix variables and their segmenting dimensions.

The main difference between a "product-market" and a "generic market" is whether customer needs are similar or different.

The first step in segmenting international markets is to:

Which of the following statements about positioning is NOT TRUE?

Which of the following is the WORST example of a "generic market"?

Marketing-oriented managers see segmenting as a process of aggregating people with similar needs into a group.

The first step in market segmentation should be:

If a company plans to sell its products to a market segment consisting of "outgoing personalities," this would NOT be a good market segment primarily because of which of the following criteria?

A product-market is one in which

A product-market segment is "operational" if it is big enough to be profitable to the firm.

A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.

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