Question 1

The 80/20 rule suggests that

Accepted Answer

A) 80 percent of a firm's inventory should be readily available while 20 percent should be reserved for emergency demand. 
B) 80 percent of a firm's first-time users will become brand loyal while 20 percent will use the product only once and then abandon it. 
C) 80 percent of a firm's sales are obtained from 20 percent of its customers. 
D) 80 percent of a firm's marketing program expenses are tax deductible while 20 percent are not. 
E) 80 percent of a firm's products will be sold to ultimate consumers while 20 percent to organizational buyers. 
A) 80 percent of a firm's inventory should be readily available while 20 percent should be reserved for emergency demand. 
B) 80 percent of a firm's first-time users will become brand loyal while 20 percent will use the product only once and then abandon it. 
C) 80 percent of a firm's sales are obtained from 20 percent of its customers. 
D) 80 percent of a firm's marketing program expenses are tax deductible while 20 percent are not. 
E) 80 percent of a firm's products will be sold to ultimate consumers while 20 percent to organizational buyers.

Question 2

A rehabilitation center wants to target women in their 20s who have received some permanent disability as the result of a skiing accident.In terms of the criteria used for selecting a target segment,this market would

Accepted Answer

A) have no expected growth. 
B) not be compatible with the company's current resources. 
C) not be worth doing since its market size is very small. 
D) not be readily accessible to the firm's marketing programs. 
E) be relatively difficult to access. 
A) have no expected growth. 
B) not be compatible with the company's current resources. 
C) not be worth doing since its market size is very small. 
D) not be readily accessible to the firm's marketing programs. 
E) be relatively difficult to access.

Question 3

More than half of all U.S.households are composed of only one or two persons,so Aunt Jemima offers one serving meals -such as its Ham & Egg Scramble and Oatmeal Pancakes.Aunt Jemima is using __________ as the basis to segment its market.

Accepted Answer

A) usage rates 
B) usage patterns 
C) demographic characteristics 
D) behavior characteristics 
E) psychographic characteristics 
A) usage rates 
B) usage patterns 
C) demographic characteristics 
D) behavior characteristics 
E) psychographic characteristics

Question 4

When considering the quick-service restaurant competition,it will be most important for Wendy's to consider not only the offerings of Burger King,McDonald's,Five Guys Burgers,and other hamburger chains but also the

Accepted Answer

A) meals at golf and country clubs. 
B) dormitory meal plans at surrounding colleges and universities. 
C) items for sale at gas stations and convenience stores. 
D) local farmer's markets that sell produce. 
E) nearly every food item sold at local grocery stores. 
A) meals at golf and country clubs. 
B) dormitory meal plans at surrounding colleges and universities. 
C) items for sale at gas stations and convenience stores. 
D) local farmer's markets that sell produce. 
E) nearly every food item sold at local grocery stores.

Question 5

MyTwinn makes dolls that look like young girls.For $119,the firm will make a doll that looks just like a photograph.So,if you send in the money and a photo of your young niece,she could have a doll that is her twin! This is an example of

Accepted Answer

A) family branding. 
B) "Tiffany" marketing. 
C) multiple products and multiple market segments. 
D) mass customization. 
E) specialty customization. 
A) family branding. 
B) "Tiffany" marketing. 
C) multiple products and multiple market segments. 
D) mass customization. 
E) specialty customization.

Question 6

As an owner of a Wendy's fast-food restaurant,the information in Figure 9-6 above suggests

Accepted Answer

A) you have an advantage over both McDonald's and Burger King as being the most preferred "second choice" restaurant. 
B) most of the respondents think of Wendy's as their primary fast food restaurant. 
C) a need to devise a marketing program to win customers from McDonald's and Burger King. 
D) McDonald's has fewer "exclusively loyal" customers than does Wendy's. 
E) Burger King is closing in on your market share. 
A) you have an advantage over both McDonald's and Burger King as being the most preferred "second choice" restaurant. 
B) most of the respondents think of Wendy's as their primary fast food restaurant. 
C) a need to devise a marketing program to win customers from McDonald's and Burger King. 
D) McDonald's has fewer "exclusively loyal" customers than does Wendy's. 
E) Burger King is closing in on your market share.

Question 7

College dorm residents frequently want to keep and prepare their own food and snacks to save money or have a late night snack.However,their dorm rooms are often woefully short of space.MicroFridge understands this and markets a combination microwave,refrigerator,and freezer targeted to these students.MicroFridge is MOST LIKELY using which basis of segmentation?

Accepted Answer

A) sociocultural segmentation 
B) psychographic segmentation 
C) geographic segmentation 
D) behavioral segmentation 
E) socioeconomic segmentation 
A) sociocultural segmentation 
B) psychographic segmentation 
C) geographic segmentation 
D) behavioral segmentation 
E) socioeconomic segmentation

Question 8

To be identified as a market segment,its members must

Accepted Answer

A) have common needs and respond similarly to a marketing action. 
B) represent a large share of the entire market and have buying power. 
C) have different needs and have potential for future growth. 
D) have different needs and respond similarly to market actions. 
E) have the potential for future growth and increased profit or ROI. 
A) have common needs and respond similarly to a marketing action. 
B) represent a large share of the entire market and have buying power. 
C) have different needs and have potential for future growth. 
D) have different needs and respond similarly to market actions. 
E) have the potential for future growth and increased profit or ROI.

Question 9

Personality and lifestyle are both variables used to employ __________ segmentation.

Accepted Answer

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

Question 10

You can go to your nearest Hallmark card store and buy a birthday greeting card for a friend and pay $4.50.Or,you can buy a Hallmark card from its new $0.99 line of greeting cards that is not quite as nice in terms of quality materials,but is just as sentimental,and are sold at Barnes and Noble bookstores.This is an example of

Accepted Answer

A) mass customization. 
B) organizational synergy. 
C) one product and multiple market segments. 
D) price discrimination. 
E) a "Tiffany/Walmart" strategy. 
A) mass customization. 
B) organizational synergy. 
C) one product and multiple market segments. 
D) price discrimination. 
E) a "Tiffany/Walmart" strategy.

Question 11

Tony Hsieh,CEO of Zappos,offers $2,000 to anyone who

Accepted Answer

A) identifies a completely new market segment with a product to match it. 
B) finds a way of improving service to online customers. 
C) takes the customer loyalty training class and decides to quit anyway. 
D) finds a shoe-related product that Zappos does not already carry. 
E) creates a humorous theme for one of the monthly company meetings. 
A) identifies a completely new market segment with a product to match it. 
B) finds a way of improving service to online customers. 
C) takes the customer loyalty training class and decides to quit anyway. 
D) finds a shoe-related product that Zappos does not already carry. 
E) creates a humorous theme for one of the monthly company meetings.

Question 12

Which of the following is a consumer demographic segmentation variable?

Accepted Answer

A) personality 
B) gender 
C) usage rate 
D) needs 
E) region 
A) personality 
B) gender 
C) usage rate 
D) needs 
E) region

Question 13

A recent study by the Aberdeen Group analyzed which segmentation bases were used by the 20 percent most profitable organizations of the 220 surveyed.Which segmentation base did these organizations use the most?

Accepted Answer

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

Question 14

Figure 9-10 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus after you've chosen the market segments to target and the product groupings to offer based on the market size estimates.The next step is to develop a simple marketing action to reach a target market.Sending out coupons for "10 percent off all purchases between 2:00 p.m.and 4:30 p.m." during the winter quarter would target potential

Accepted Answer

A) dormitory customers. 
B) night commuter customers. 
C) between-meal snack customers. 
D) after-dinner snack customers. 
E) apartment customers. 
A) dormitory customers. 
B) night commuter customers. 
C) between-meal snack customers. 
D) after-dinner snack customers. 
E) apartment customers.

Question 15

Variables such as location,the North American Industry Classification System (NAICS)code,and number of employees are all examples of ways to

Accepted Answer

A) differentiate products. 
B) forecast sales to a consumer market. 
C) segment a consumer market. 
D) segment an organizational market. 
E) promote NAFTA. 
A) differentiate products. 
B) forecast sales to a consumer market. 
C) segment a consumer market. 
D) segment an organizational market. 
E) promote NAFTA.

Question 16

Four general categories used to segment consumer markets are geographic segmentation,demographic segmentation,__________,and behavioral segmentation.

Accepted Answer

A) supplier segmentation 
B) demand segmentation 
C) regional segmentation 
D) psychographic segmentation 
E) product segmentation 
A) supplier segmentation 
B) demand segmentation 
C) regional segmentation 
D) psychographic segmentation 
E) product segmentation

Question 17

In Figure 9-1 above,"C" represents which stage of the market segmentation process?

Accepted Answer

A) link needs to actions 
B) identify market needs 
C) establish a marketing protocol 
D) execute marketing program actions 
E) segment and select the target markets 
A) link needs to actions 
B) identify market needs 
C) establish a marketing protocol 
D) execute marketing program actions 
E) segment and select the target markets

Question 18

Which of the following statements about market segmentation for organizational markets is most accurate?

Accepted Answer

A) Criteria for segmenting markets are the same whether the market is composed of consumers or organizations. 
B) Both consumer markets and organizational markets use demographic,geographic,and behavioral bases to segment markets. 
C) Psychographic criteria are just as important in segmenting organizational markets as they are in segmenting consumer markets. 
D) Organizational markets and consumer markets use identical selection criteria. 
E) The greatest difference in market segmentation strategies between consumer and organizational markets is the number of employees employed in the segmentation process. 
A) Criteria for segmenting markets are the same whether the market is composed of consumers or organizations. 
B) Both consumer markets and organizational markets use demographic,geographic,and behavioral bases to segment markets. 
C) Psychographic criteria are just as important in segmenting organizational markets as they are in segmenting consumer markets. 
D) Organizational markets and consumer markets use identical selection criteria. 
E) The greatest difference in market segmentation strategies between consumer and organizational markets is the number of employees employed in the segmentation process.

Question 19

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the following question:

Accepted Answer

A) "Is this product useful on a global scale?" 
B) "Is it possible to reposition this product?" 
C) "Is there too much competition for this product?" 
D) "Is the market loyal to the product?" 
E) "Would segmentation be worth doing and is it possible?" 
A) "Is this product useful on a global scale?" 
B) "Is it possible to reposition this product?" 
C) "Is there too much competition for this product?" 
D) "Is the market loyal to the product?" 
E) "Would segmentation be worth doing and is it possible?"

Question 20

The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as

Accepted Answer

A) product repositioning. 
B) relative positioning. 
C) competitive positioning. 
D) product positioning. 
E) selective perception. 
A) product repositioning. 
B) relative positioning. 
C) competitive positioning. 
D) product positioning. 
E) selective perception.

Exam 9: Market Segmentation, Targeting, and Positioning

The 80/20 rule suggests that

A rehabilitation center wants to target women in their 20s who have received some permanent disability as the result of a skiing accident.In terms of the criteria used for selecting a target segment,this market would

More than half of all U.S.households are composed of only one or two persons,so Aunt Jemima offers one serving meals -such as its Ham & Egg Scramble and Oatmeal Pancakes.Aunt Jemima is using __________ as the basis to segment its market.

When considering the quick-service restaurant competition,it will be most important for Wendy's to consider not only the offerings of Burger King,McDonald's,Five Guys Burgers,and other hamburger chains but also the

MyTwinn makes dolls that look like young girls.For $119,the firm will make a doll that looks just like a photograph.So,if you send in the money and a photo of your young niece,she could have a doll that is her twin! This is an example of

As an owner of a Wendy's fast-food restaurant,the information in Figure 9-6 above suggests

To be identified as a market segment,its members must

Personality and lifestyle are both variables used to employ __________ segmentation.

Tony Hsieh,CEO of Zappos,offers $2,000 to anyone who

Which of the following is a consumer demographic segmentation variable?

A recent study by the Aberdeen Group analyzed which segmentation bases were used by the 20 percent most profitable organizations of the 220 surveyed.Which segmentation base did these organizations use the most?

Variables such as location,the North American Industry Classification System (NAICS)code,and number of employees are all examples of ways to

Four general categories used to segment consumer markets are geographic segmentation,demographic segmentation,__________,and behavioral segmentation.

In Figure 9-1 above,"C" represents which stage of the market segmentation process?

Which of the following statements about market segmentation for organizational markets is most accurate?

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the following question:

The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as

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