Question 1

Which of the following is a criterion used for selecting a target market?

Accepted Answer

A) similarity of needs of potential buyers within a segment 
B) difference of needs of sellers between segments 
C) feasibility of a marketing action to reach a segment 
D) market size 
E) simplicity and cost of assigning potential buyers to segments 
A) similarity of needs of potential buyers within a segment 
B) difference of needs of sellers between segments 
C) feasibility of a marketing action to reach a segment 
D) market size 
E) simplicity and cost of assigning potential buyers to segments

Question 2

Product repositioning refers to

Accepted Answer

A) the place a product offering occupies in consumers' minds on important attributes. 
B) using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets. 
C) changing the place an offering occupies in consumers' minds relative to competitive products. 
D) the practice of selling off a firm's least successful product line and redirecting that revenue into a totally new product. 
E) the competitive advantage of one product over another. 
A) the place a product offering occupies in consumers' minds on important attributes. 
B) using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets. 
C) changing the place an offering occupies in consumers' minds relative to competitive products. 
D) the practice of selling off a firm's least successful product line and redirecting that revenue into a totally new product. 
E) the competitive advantage of one product over another.

Question 3

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Accepted Answer

A) pay attention to marketing messages. 
B) respond similarly to a marketing action. 
C) be responsive to marketing research. 
D) use the same payment methods. 
E) comply with the organization's core values. 
A) pay attention to marketing messages. 
B) respond similarly to a marketing action. 
C) be responsive to marketing research. 
D) use the same payment methods. 
E) comply with the organization's core values.

Question 4

One marketing action that can be taken to sell a single product or service to multiple market segments is to

Accepted Answer

A) develop and produce another version of the product. 
B) manufacture products that appeal to different markets. 
C) develop separate promotional campaigns. 
D) purchase another firm that has additional products that would appeal to multiple markets. 
E) issue stock to fund additional research and development for new products. 
A) develop and produce another version of the product. 
B) manufacture products that appeal to different markets. 
C) develop separate promotional campaigns. 
D) purchase another firm that has additional products that would appeal to multiple markets. 
E) issue stock to fund additional research and development for new products.

Question 5

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as

Accepted Answer

A) family branding. 
B) mass customization. 
C) "Tiffany/Walmart" marketing. 
D) economies of scale marketing. 
E) build-to-order. 
A) family branding. 
B) mass customization. 
C) "Tiffany/Walmart" marketing. 
D) economies of scale marketing. 
E) build-to-order.

Question 6

A market-product grid is a framework to relate

Accepted Answer

A) total estimated expenses for each product sold to each market segment. 
B) total anticipated revenue for each product-market segment combination. 
C) total anticipated profit for each product sold to each market segment. 
D) the market segments of potential buyers to relative market share compared to the closest competitor. 
E) the market segments of potential buyers to products offered or potential marketing actions by an organization. 
A) total estimated expenses for each product sold to each market segment. 
B) total anticipated revenue for each product-market segment combination. 
C) total anticipated profit for each product sold to each market segment. 
D) the market segments of potential buyers to relative market share compared to the closest competitor. 
E) the market segments of potential buyers to products offered or potential marketing actions by an organization.

Question 7

An analysis of the pillow market using a market-product grid suggests that the most important segment to target is

Accepted Answer

A) side sleepers. 
B) sleepers with sleep disorders,such as sleep apnea. 
C) sleepers with annual incomes of $50,000 and over. 
D) back sleepers. 
E) stomach sleepers. 
A) side sleepers. 
B) sleepers with sleep disorders,such as sleep apnea. 
C) sleepers with annual incomes of $50,000 and over. 
D) back sleepers. 
E) stomach sleepers.

Question 8

The process of segmenting a market and selecting specific segments as targets is the link between the various buyers' or market needs and

Accepted Answer

A) industry standards. 
B) government regulations. 
C) top-level management. 
D) controllable environmental factors. 
E) the organization's marketing program. 
A) industry standards. 
B) government regulations. 
C) top-level management. 
D) controllable environmental factors. 
E) the organization's marketing program.

Question 9

As Figure 9-4 above shows,there are four general categories used to segment consumer markets in the U.S. ,each having its own variables and typical breakdowns that can be used to segment them."A" describes the __________ base of segmentation.

Accepted Answer

A) behavioral 
B) demographic 
C) geographic 
D) psychographic 
E) product 
A) behavioral 
B) demographic 
C) geographic 
D) psychographic 
E) product

Question 10

According to the Apple market-product grid above,Apple would most likely get the LEAST market synergies from

Accepted Answer

A) teachers and college staff. 
B) individuals and small home office users. 
C) medium/large businesses and college faculty. 
D) students,teachers,and college faculty. 
E) creative professionals. 
A) teachers and college staff. 
B) individuals and small home office users. 
C) medium/large businesses and college faculty. 
D) students,teachers,and college faculty. 
E) creative professionals.

Question 11

The process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization's marketing program.

Accepted Answer

A) self-regulatory industry standards 
B) government regulations 
C) top-level management 
D) buyers' or market needs 
E) controllable environmental factors 
A) self-regulatory industry standards 
B) government regulations 
C) top-level management 
D) buyers' or market needs 
E) controllable environmental factors

Question 12

Figure 9-9 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.Operations and production synergies and efficiencies run __________.

Accepted Answer

A) horizontally across the rows 
B) vertically down the columns 
C) between full meals and snacks 
D) diagonally from top-left to bottom-right of a market-product grid 
E) both horizontally and vertically depending upon the marketing action 
A) horizontally across the rows 
B) vertically down the columns 
C) between full meals and snacks 
D) diagonally from top-left to bottom-right of a market-product grid 
E) both horizontally and vertically depending upon the marketing action

Question 13

The aggregation of prospective buyers into groups that (1)have common needs and (2)will respond similarly to a marketing action is referred to as __________.

Accepted Answer

A) market diversification 
B) market differentiation 
C) market segmentation 
D) market augmentation 
E) market repositioning 
A) market diversification 
B) market differentiation 
C) market segmentation 
D) market augmentation 
E) market repositioning

Question 14

Define product positioning.What are two approaches to product positioning? Give an example of each approach.

Accepted Answer

Product positioning refers to the place

Question 15

All of the following are psychographic segmentation variables EXCEPT:

Accepted Answer

A) lifestyle 
B) needs 
C) birth era 
D) VALS 
E) personality 
A) lifestyle 
B) needs 
C) birth era 
D) VALS 
E) personality

Question 16

What are the four steps to positioning a product with a perceptual map?

Accepted Answer

A key to positioning a product or brand

Question 17

Which of the following is a common basis used to segment U.S.organizational markets?

Accepted Answer

A) psychographic 
B) income 
C) prospects 
D) education 
E) geographic 
A) psychographic 
B) income 
C) prospects 
D) education 
E) geographic

Question 18

The market segmentation strategy known as frequency marketing focuses on

Accepted Answer

A) trial. 
B) the average number of times a person in the target audience is exposed to an advertisement. 
C) consumption incidence. 
D) turnover. 
E) usage rate. 
A) trial. 
B) the average number of times a person in the target audience is exposed to an advertisement. 
C) consumption incidence. 
D) turnover. 
E) usage rate.

Question 19

One advantage of a market-product grid is that it can be used to

Accepted Answer

A) make cost-cutting decisions under conditions of uncertainty. 
B) screen many new product ideas in order to select the one with the best long-run market potential. 
C) determine which target market segments to select and which product groupings to offer. 
D) select representative samples of consumers for marketing research studies. 
E) relate the product life cycle to consumer demand. 
A) make cost-cutting decisions under conditions of uncertainty. 
B) screen many new product ideas in order to select the one with the best long-run market potential. 
C) determine which target market segments to select and which product groupings to offer. 
D) select representative samples of consumers for marketing research studies. 
E) relate the product life cycle to consumer demand.

Question 20

Figure 9-9 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.The best way to describe how the student market is segmented is

Accepted Answer

A) whether the student is a faculty or staff member. 
B) whether the student lives near the campus or far away. 
C) whether the student has the disposable income to eat at Wendy's. 
D) combining the factors of where the student lives and when (s)he is on campus. 
E) the meals eaten at the Wendy's restaurant. 
A) whether the student is a faculty or staff member. 
B) whether the student lives near the campus or far away. 
C) whether the student has the disposable income to eat at Wendy's. 
D) combining the factors of where the student lives and when (s)he is on campus. 
E) the meals eaten at the Wendy's restaurant.

Exam 9: Market Segmentation, Targeting, and Positioning

Which of the following is a criterion used for selecting a target market?

Product repositioning refers to

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

One marketing action that can be taken to sell a single product or service to multiple market segments is to

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as

A market-product grid is a framework to relate

An analysis of the pillow market using a market-product grid suggests that the most important segment to target is

The process of segmenting a market and selecting specific segments as targets is the link between the various buyers' or market needs and

As Figure 9-4 above shows,there are four general categories used to segment consumer markets in the U.S. ,each having its own variables and typical breakdowns that can be used to segment them."A" describes the __________ base of segmentation.

According to the Apple market-product grid above,Apple would most likely get the LEAST market synergies from

The process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization's marketing program.

Figure 9-9 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.Operations and production synergies and efficiencies run __________.

The aggregation of prospective buyers into groups that (1)have common needs and (2)will respond similarly to a marketing action is referred to as __________.

Define product positioning.What are two approaches to product positioning? Give an example of each approach.

All of the following are psychographic segmentation variables EXCEPT:

What are the four steps to positioning a product with a perceptual map?

Which of the following is a common basis used to segment U.S.organizational markets?

The market segmentation strategy known as frequency marketing focuses on

One advantage of a market-product grid is that it can be used to

Figure 9-9 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.The best way to describe how the student market is segmented is

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility in Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Developing New Products and Services

Managing Successful Products, Services, and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Building an Effective Marketing Plan

Financial Aspects of Marketing

Filters