Question 1

The Value and Lifestyle Survey (VALS)conducted by Strategic Business Insights (SBI)is a widely used tool for geographic segmentation.

Accepted Answer

A) True 
 B)False

Question 2

The text states that "geodemographic segmentation can be particularly useful for retailers." Use a local retailer to describe how geodemographic segmentation could be useful.

Accepted Answer

Answers will vary.Professors might want

Question 3

In a classic example of segmentation strategy,years ago Swift Meat Company transformed turkey meat into "Butterball" turkeys.In doing so,the company

Accepted Answer

A)  differentiated its product. 
B)  streamlined its delivery process. 
C)  created a new class of micromarketing. 
D)  defined consumers' basic needs. 
E)  redefined mass customization. 
A)  differentiated its product. 
B)  streamlined its delivery process. 
C)  created a new class of micromarketing. 
D)  defined consumers' basic needs. 
E)  redefined mass customization.

Question 4

Social networking sites that compete directly with Facebook have a difficult time surviving; however,LinkedIn has survived by focusing on the needs of business professionals,who seek to network with colleagues,share their expertise,post online résumés,and look for new jobs.What segmentation method is LinkedIn using?

Accepted Answer

A)  loyalty segmentation 
B)  benefit segmentation 
C)  psychographic segmentation 
D)  geodemographic segmentation 
E)  demographic segmentation 
A)  loyalty segmentation 
B)  benefit segmentation 
C)  psychographic segmentation 
D)  geodemographic segmentation 
E)  demographic segmentation

Question 5

Which of the following would not be used in calculating the profitability of a segment?

Accepted Answer

A)  segment perceptions 
B)  segment size 
C)  segment adoption percentage 
D)  profit margin percentage 
E)  fixed costs 
A)  segment perceptions 
B)  segment size 
C)  segment adoption percentage 
D)  profit margin percentage 
E)  fixed costs

Question 6

Develop a lifestyle segmentation scheme for students at your university,and label and describe three segments.You can think of this as developing your own version of the VALS tool,but specifically for college students.

Accepted Answer

Again,answers will vary but creative stu

Question 7

After assessing the market growth potential for his company's baby products in Mexico,Harmon wanted to evaluate market competitiveness.To do this,Harmon would consider

Accepted Answer

A)  mass marketing of distribution potential and logistical support. 
B)  the current size of the market and the expected growth rate. 
C)  ease of pricing control and number of promotional outlets. 
D)  the number of competitors,entry barriers,and product substitutes. 
E)  profitability and customer buying behavior. 
A)  mass marketing of distribution potential and logistical support. 
B)  the current size of the market and the expected growth rate. 
C)  ease of pricing control and number of promotional outlets. 
D)  the number of competitors,entry barriers,and product substitutes. 
E)  profitability and customer buying behavior.

Question 8

The STP process is made up of strategy,targeting,and promotion.

Accepted Answer

A) True 
 B)False

Question 9

Healthcare Options markets health care aids such as walkers,crutches,and portable oxygen tanks.It is located in a large city with branches in neighboring suburbs.It needed to determine if one of its stores was profitable or if it should close it.What is the formula for determining profitability?

Accepted Answer

Segment profitability = (Segme

Question 10

A __________ is often used to illustrate the position of a firm's products or brands in consumers' minds.

Accepted Answer

A)  mass marketing analysis 
B)  psychographic profile 
C)  perceptual map 
D)  loyalty timeline 
E)  PRIZM analysis 
A)  mass marketing analysis 
B)  psychographic profile 
C)  perceptual map 
D)  loyalty timeline 
E)  PRIZM analysis

Question 11

When Ron complained to his bank about the unprofessional behavior of one teller,the branch manager added a code into his accounts alerting all tellers that Ron was a valued customer and to provide whatever service he requests.The branch management included Ron in its __________ segmentation.

Accepted Answer

A)  benefit 
B)  geodemographic 
C)  psychographic 
D)  loyalty 
E)  geographic 
A)  benefit 
B)  geodemographic 
C)  psychographic 
D)  loyalty 
E)  geographic

Question 12

Fiona is looking to expand her pet grooming business and wants to evaluate the profitability of a potential new market.The area she is looking at has 2,000 homes and Fiona estimates that 20 percent of them would be likely to use her service.She charges $45 per grooming and on average customers groom their pets six times a year.Fiona estimates her variable costs to expand her business will be $10 per grooming and her fixed costs are $10,000.How much profit would Fiona make on this new segment?

Accepted Answer

A)  $72,240 
B)  $98,000 
C)  $108,000 
D)  $128,000 
E)  $410,000 
A)  $72,240 
B)  $98,000 
C)  $108,000 
D)  $128,000 
E)  $410,000

Question 13

Many companies use the Internet to allow consumers to design customized products; for example,Nike allows customers to order shoes with custom color combinations.This is a form of

Accepted Answer

A)  micromarketing. 
B)  concentrated targeting. 
C)  psychographic segmentation. 
D)  differentiated targeting. 
E)  undifferentiated targeting. 
A)  micromarketing. 
B)  concentrated targeting. 
C)  psychographic segmentation. 
D)  differentiated targeting. 
E)  undifferentiated targeting.

Question 14

With access to the Internet nearly universal in the United States,many potential market segments have become more

Accepted Answer

A)  substantial. 
B)  perceptive. 
C)  identifiable. 
D)  reachable. 
E)  quantifiable. 
A)  substantial. 
B)  perceptive. 
C)  identifiable. 
D)  reachable. 
E)  quantifiable.

Question 15

In the Circles for a Successful Value Proposition framework,the value proposition is represented by

Accepted Answer

A)  the intersection between customer needs / wants and competitors' benefits. 
B)  the intersection between the firm's benefits and competitors' benefits. 
C)  the intersection between customer needs / wants and the firm's product's benefits. 
D)  the intersection between all three of the circles. 
E)  the part of the firm's benefits that doesn't overlap with anything. 
A)  the intersection between customer needs / wants and competitors' benefits. 
B)  the intersection between the firm's benefits and competitors' benefits. 
C)  the intersection between customer needs / wants and the firm's product's benefits. 
D)  the intersection between all three of the circles. 
E)  the part of the firm's benefits that doesn't overlap with anything.

Question 16

When developing a positioning strategy,marketers may choose to position their offerings against the offerings of competitors.If you were to do so,what would you expect your competitors to do?

Accepted Answer

Students should identify the dynamic nat

Question 17

In theory,why is micromarketing the ultimate in STP strategy? What is the weakness associated with micromarketing?

Accepted Answer

Micromarketing (or one-to-one marketing)

Question 18

Positioning strategies generally focus either on how the product benefits the consumer or on how it is better than competitors' products.

Accepted Answer

A) True 
 B)False

Question 19

Geodemographic segmentation can be particularly useful for __________,because customers typically patronize stores close to their neighborhood.

Accepted Answer

A)  Internet marketers 
B)  wholesalers 
C)  retailers 
D)  consumer goods manufacturers 
E)  cable TV networks 
A)  Internet marketers 
B)  wholesalers 
C)  retailers 
D)  consumer goods manufacturers 
E)  cable TV networks

Question 20

Jim wants to position his firm against his competitors.In doing so he should

Accepted Answer

A)  never select a competitor in the same neighborhood. 
B)  avoid making the competitor's product look undesirable. 
C)  avoid looking too much like the competitor so that he'd confuse the target segment. 
D)  avoid discussing the strengths of his product so that competitors won't be aware of his product quality. 
E)  avoid discussing the weaknesses of his competitors so they won't retaliate. 
A)  never select a competitor in the same neighborhood. 
B)  avoid making the competitor's product look undesirable. 
C)  avoid looking too much like the competitor so that he'd confuse the target segment. 
D)  avoid discussing the strengths of his product so that competitors won't be aware of his product quality. 
E)  avoid discussing the weaknesses of his competitors so they won't retaliate.

The Value and Lifestyle Survey (VALS)conducted by Strategic Business Insights (SBI)is a widely used tool for geographic segmentation.

The text states that "geodemographic segmentation can be particularly useful for retailers." Use a local retailer to describe how geodemographic segmentation could be useful.

In a classic example of segmentation strategy,years ago Swift Meat Company transformed turkey meat into "Butterball" turkeys.In doing so,the company

Which of the following would not be used in calculating the profitability of a segment?

Develop a lifestyle segmentation scheme for students at your university,and label and describe three segments.You can think of this as developing your own version of the VALS tool,but specifically for college students.

After assessing the market growth potential for his company's baby products in Mexico,Harmon wanted to evaluate market competitiveness.To do this,Harmon would consider

The STP process is made up of strategy,targeting,and promotion.

Healthcare Options markets health care aids such as walkers,crutches,and portable oxygen tanks.It is located in a large city with branches in neighboring suburbs.It needed to determine if one of its stores was profitable or if it should close it.What is the formula for determining profitability?

A __________ is often used to illustrate the position of a firm's products or brands in consumers' minds.

When Ron complained to his bank about the unprofessional behavior of one teller,the branch manager added a code into his accounts alerting all tellers that Ron was a valued customer and to provide whatever service he requests.The branch management included Ron in its __________ segmentation.

Many companies use the Internet to allow consumers to design customized products; for example,Nike allows customers to order shoes with custom color combinations.This is a form of

With access to the Internet nearly universal in the United States,many potential market segments have become more

In the Circles for a Successful Value Proposition framework,the value proposition is represented by

When developing a positioning strategy,marketers may choose to position their offerings against the offerings of competitors.If you were to do so,what would you expect your competitors to do?

In theory,why is micromarketing the ultimate in STP strategy? What is the weakness associated with micromarketing?

Positioning strategies generally focus either on how the product benefits the consumer or on how it is better than competitors' products.

Geodemographic segmentation can be particularly useful for __________,because customers typically patronize stores close to their neighborhood.

Jim wants to position his firm against his competitors.In doing so he should

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Social and Mobile Marketing

Marketing Ethics

Analyzing the Marketing Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: the Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Integrated Marketing Communications

Personal Selling and Sales Management

Filters

Exam 9: Segmentation, Targeting, and Positioning

The Value and Lifestyle Survey (VALS)conducted by Strategic Business Insights (SBI)is a widely used tool for geographic segmentation.

The text states that "geodemographic segmentation can be particularly useful for retailers." Use a local retailer to describe how geodemographic segmentation could be useful.

In a classic example of segmentation strategy,years ago Swift Meat Company transformed turkey meat into "Butterball" turkeys.In doing so,the company

Which of the following would not be used in calculating the profitability of a segment?

Develop a lifestyle segmentation scheme for students at your university,and label and describe three segments.You can think of this as developing your own version of the VALS tool,but specifically for college students.

After assessing the market growth potential for his company's baby products in Mexico,Harmon wanted to evaluate market competitiveness.To do this,Harmon would consider

The STP process is made up of strategy,targeting,and promotion.

Healthcare Options markets health care aids such as walkers,crutches,and portable oxygen tanks.It is located in a large city with branches in neighboring suburbs.It needed to determine if one of its stores was profitable or if it should close it.What is the formula for determining profitability?

A __________ is often used to illustrate the position of a firm's products or brands in consumers' minds.

When Ron complained to his bank about the unprofessional behavior of one teller,the branch manager added a code into his accounts alerting all tellers that Ron was a valued customer and to provide whatever service he requests.The branch management included Ron in its __________ segmentation.

Many companies use the Internet to allow consumers to design customized products; for example,Nike allows customers to order shoes with custom color combinations.This is a form of

With access to the Internet nearly universal in the United States,many potential market segments have become more

In the Circles for a Successful Value Proposition framework,the value proposition is represented by

When developing a positioning strategy,marketers may choose to position their offerings against the offerings of competitors.If you were to do so,what would you expect your competitors to do?

In theory,why is micromarketing the ultimate in STP strategy? What is the weakness associated with micromarketing?

Positioning strategies generally focus either on how the product benefits the consumer or on how it is better than competitors' products.

Geodemographic segmentation can be particularly useful for __________,because customers typically patronize stores close to their neighborhood.

Jim wants to position his firm against his competitors.In doing so he should

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Social and Mobile Marketing

Marketing Ethics

Analyzing the Marketing Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: the Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Integrated Marketing Communications

Personal Selling and Sales Management

Filters