Question 1

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

Accepted Answer

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

Question 2

The best segmentation approach is the one that

Accepted Answer

A) makes it easiest to reach the segment. 
B) maximizes the opportunity for future profit and ROI. 
C) recognizes different needs of buyers among different segments. 
D) recognizes similarities of needs of potential buyers within a segment. 
E) is simplest and least costly in assigning potential buyers to segments. 
A) makes it easiest to reach the segment. 
B) maximizes the opportunity for future profit and ROI. 
C) recognizes different needs of buyers among different segments. 
D) recognizes similarities of needs of potential buyers within a segment. 
E) is simplest and least costly in assigning potential buyers to segments.

Question 3

In the Apple market-product grid shown above for its personal computer line,the "iMac" is popular among all the segments Apple can target.This allows Apple to enjoy __________.

Accepted Answer

A) segmentation synergies 
B) marketing synergies 
C) product synergies 
D) the 80/20 rule 
E) frequency marketing 
A) segmentation synergies 
B) marketing synergies 
C) product synergies 
D) the 80/20 rule 
E) frequency marketing

Question 4

Evergreen Air Center in Marana,Arizona,is the world's biggest parking lot for unwanted commercial aircraft.Airlines pay from $750 to $5,000 a month for its storage service.The warm,dry air where the operation is located serves as a cheap and effective airplane preservative.Which organizational segmentation variable might Evergreen use to segment the market?

Accepted Answer

A) NAICS sector,such as manufacturers,or retailers,or lawyers 
B) number of locations 
C) "who buys," such as individual buyer or buying groups 
D) metropolitan statistical area 
E) number of employees 
A) NAICS sector,such as manufacturers,or retailers,or lawyers 
B) number of locations 
C) "who buys," such as individual buyer or buying groups 
D) metropolitan statistical area 
E) number of employees

Question 5

Explain what a market-product grid is and how it is used.

Accepted Answer

A market-product grid is a framework to

Question 6

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

Accepted Answer

A) new menu items or promotional strategies may be needed to convert prospects into users. 
B) most of the respondents think of Wendy's as their primary fast food restaurant. 
C) McDonald's has fewer "exclusively loyal" customers than does Wendy's. 
D) Burger King is closing in on your market share. 
E) a need to devise a marketing program to change the minds of nonprospects. 
A) new menu items or promotional strategies may be needed to convert prospects into users. 
B) most of the respondents think of Wendy's as their primary fast food restaurant. 
C) McDonald's has fewer "exclusively loyal" customers than does Wendy's. 
D) Burger King is closing in on your market share. 
E) a need to devise a marketing program to change the minds of nonprospects.

Question 7

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

Accepted Answer

Product differentiation involves a firm

Question 8

The company name Zappos was chosen because it

Accepted Answer

A) was the founder's family name. 
B) conveyed in Spanish the type of product sold. 
C) inferred how quickly you could purchase the product. 
D) contained letters from the names of the three founders. 
E) reflected the brand name of the first line of shoes they sold. 
A) was the founder's family name. 
B) conveyed in Spanish the type of product sold. 
C) inferred how quickly you could purchase the product. 
D) contained letters from the names of the three founders. 
E) reflected the brand name of the first line of shoes they sold.

Question 9

A positioning approach that involves seeking a less competitive,smaller market niche in which to locate a brand is referred to as __________.

Accepted Answer

A) competitive repositioning 
B) head-to-head positioning 
C) differentiation positioning 
D) downsize positioning 
E) product repositioning 
A) competitive repositioning 
B) head-to-head positioning 
C) differentiation positioning 
D) downsize positioning 
E) product repositioning

Question 10

Which of the following statements regarding when and how to segment markets is most accurate?

Accepted Answer

A) Even if a firm finds only one potential market segment,it should take advantage of the method to appear cutting-edge to its competitors and customers. 
B) Market segmentation only works for large corporations;small businesses don't have the resources to engage in the process. 
C) Governments should not attempt market segmentation because the strategy is only applicable for consumer and organizational markets. 
D) If a business firm goes to the trouble and expense of segmenting its markets,it expects to increase its sales,profits,and return on investment. 
E) Market segmentation strategies work less than 10 percent of the time. 
A) Even if a firm finds only one potential market segment,it should take advantage of the method to appear cutting-edge to its competitors and customers. 
B) Market segmentation only works for large corporations;small businesses don't have the resources to engage in the process. 
C) Governments should not attempt market segmentation because the strategy is only applicable for consumer and organizational markets. 
D) If a business firm goes to the trouble and expense of segmenting its markets,it expects to increase its sales,profits,and return on investment. 
E) Market segmentation strategies work less than 10 percent of the time.

Question 11

A market-product grid is a framework to relate the market segments of potential buyers to

Accepted Answer

A) estimated expenses for products sold. 
B) products offered or potential marketing actions by an organization. 
C) total anticipated revenue. 
D) total anticipated profit. 
E) market share of the closest competitor. 
A) estimated expenses for products sold. 
B) products offered or potential marketing actions by an organization. 
C) total anticipated revenue. 
D) total anticipated profit. 
E) market share of the closest competitor.

Question 12

Which of the following is a disadvantage of employing a multiple products,multiple market segments strategy if NOT implemented well?

Accepted Answer

A) higher sales but lower profits 
B) reduced quality and higher prices 
C) meeting customer needs but at the expense of higher prices 
D) lower prices but with higher production costs 
E) higher quality but lower prices 
A) higher sales but lower profits 
B) reduced quality and higher prices 
C) meeting customer needs but at the expense of higher prices 
D) lower prices but with higher production costs 
E) higher quality but lower prices

Question 13

The axes on a perceptual map are

Accepted Answer

A) sales and profitability. 
B) two product attributes,ranging from high to low on that attribute. 
C) market share and market growth rate. 
D) customer perceptions of the firm's product versus the average of all brands in the industry. 
E) customer perceptions of the firm's product versus the brand of the firm's principal competitor. 
A) sales and profitability. 
B) two product attributes,ranging from high to low on that attribute. 
C) market share and market growth rate. 
D) customer perceptions of the firm's product versus the average of all brands in the industry. 
E) customer perceptions of the firm's product versus the brand of the firm's principal competitor.

Question 14

Organizational synergy is the increased customer value achieved through

Accepted Answer

A) performing organizational functions more efficiently. 
B) more discounts or larger rebates at the point of sale. 
C) involvement of the ultimate consumer in product design. 
D) an increase in the knowledge of competitors. 
E) shared ownership of the organization through publicly traded stock. 
A) performing organizational functions more efficiently. 
B) more discounts or larger rebates at the point of sale. 
C) involvement of the ultimate consumer in product design. 
D) an increase in the knowledge of competitors. 
E) shared ownership of the organization through publicly traded stock.

Question 15

Figure 9-9 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.Marketing synergies and efficiencies run __________ because a single kind of marketing action can reach customers that buy different product groupings.

Accepted Answer

A) horizontally across the rows 
B) vertically down the column 
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 developed 
A) horizontally across the rows 
B) vertically down the column 
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 developed

Question 16

In the sneaker business,Heelys practiced __________ positioning when it introduced a line of Heelys sneakers that came with an imbedded,detachable wheel in the shoe's heel marketed to young teens.

Accepted Answer

A) head-to-head 
B) parallel market 
C) lateral 
D) repositioning 
E) differentiation 
A) head-to-head 
B) parallel market 
C) lateral 
D) repositioning 
E) differentiation

Question 17

Why would an organization produce multiple products or services and then attempt to sell them to two or more market segments?

Accepted Answer

Organizations may target different produ

Question 18

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

Accepted Answer

A) consumer judgments about the important attributes for a product or brand class 
B) a listing of all prospective brands and products 
C) managerial judgments about how consumers perceive products 
D) rank order of the ratings of an existing brand's preference relative to its competitors 
E) detailed explanations of why consumers make the choices they do 
A) consumer judgments about the important attributes for a product or brand class 
B) a listing of all prospective brands and products 
C) managerial judgments about how consumers perceive products 
D) rank order of the ratings of an existing brand's preference relative to its competitors 
E) detailed explanations of why consumers make the choices they do

Question 19

The ultimate criterion for an organization's marketing success is that __________ as a result of increased synergies.

Accepted Answer

A) costs decrease 
B) market share increases 
C) product deficiencies decrease 
D) customers should be better off 
E) new products flourish 
A) costs decrease 
B) market share increases 
C) product deficiencies decrease 
D) customers should be better off 
E) new products flourish

Question 20

Behavioral segmentation may be based on

Accepted Answer

A) lifestyles and demographics. 
B) retailer and wholesaler behaviors. 
C) geographic and demographic criteria. 
D) product features and retail store type. 
E) demand and supply. 
A) lifestyles and demographics. 
B) retailer and wholesaler behaviors. 
C) geographic and demographic criteria. 
D) product features and retail store type. 
E) demand and supply.

Exam 9: Market Segmentation, Targeting, and Positioning

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

The best segmentation approach is the one that

In the Apple market-product grid shown above for its personal computer line,the "iMac" is popular among all the segments Apple can target.This allows Apple to enjoy __________.

Explain what a market-product grid is and how it is used.

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

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

The company name Zappos was chosen because it

A positioning approach that involves seeking a less competitive,smaller market niche in which to locate a brand is referred to as __________.

Which of the following statements regarding when and how to segment markets is most accurate?

A market-product grid is a framework to relate the market segments of potential buyers to

Which of the following is a disadvantage of employing a multiple products,multiple market segments strategy if NOT implemented well?

The axes on a perceptual map are

Organizational synergy is the increased customer value achieved through

Figure 9-9 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.Marketing synergies and efficiencies run __________ because a single kind of marketing action can reach customers that buy different product groupings.

In the sneaker business,Heelys practiced __________ positioning when it introduced a line of Heelys sneakers that came with an imbedded,detachable wheel in the shoe's heel marketed to young teens.

Why would an organization produce multiple products or services and then attempt to sell them to two or more market segments?

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

The ultimate criterion for an organization's marketing success is that __________ as a result of increased synergies.

Behavioral segmentation may be based on

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

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