Question 1

There are several different sports watches for cyclists.When compared to its competitors,the Bike Nashbar watch is the least expensive.The Acumen Basic is the only one designed for older cyclists who prefer a larger display.Sports Instrument is the most comfortable of all the available watches.This describes the ________ of the three sports watches.

Accepted Answer

A)  marketing mixes 
B)  mass marketing strategies 
C)  positions 
D)  consumer orientations 
E)  selling orientations

Question 2

________ helps a company to market more effectively in the face of pronounced
regional and local differences in demographics and lifestyles.

Accepted Answer

A)  niche marketing 
B)  psychographic marketing 
C)  local marketing 
D)  social segmentation 
E)  individual marketing

Question 3

To evaluate the different market segments your company serves,you would look at all of these factors EXCEPT which one?

Accepted Answer

A)  segment size 
B)  segment growth 
C)  segment structural attractiveness 
D)  company values 
E)  company resources

Question 4

A company or market offer can be differentiated along the lines of product,image,services,channels,or ________.

Accepted Answer

A)  labeling 
B)  packaging 
C)  people 
D)  customer service 
E)  reputation

Question 5

Which type of differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage,expertise,and performance?

Accepted Answer

A)  services differentiation 
B)  channel differentiation 
C)  people differentiation 
D)  product differentiation 
E)  price differentiation

Question 6

Explain how market variability impacts the choice of a target-marketing strategy.

Accepted Answer

The answer of Explain how market variability impacts the choice...

Question 7

When a company interacts one-on-one with large numbers of customers to create customer-unique value by designing products and services tailor-made to individual needs,it is following ________.

Accepted Answer

A)  micromarketing 
B)  mass marketing 
C)  mass customization 
D)  differentiated marketing 
E)  localization

Question 8

Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger companies.

Accepted Answer

A) True 
 B)False

Question 9

In target marketing,the issue of social responsibility is not really who is targeted,but rather ________ and for ________.

Accepted Answer

A)  why; what 
B)  how; what 
C)  why; how long 
D)  where; how long 
E)  how; how long

Question 10

When it first opened for business,Home 4 Less claimed to offer better products at lower prices.This difficult to sustain value proposition is called ________.

Accepted Answer

A)  more for the same 
B)  more for less 
C)  same for less 
D)  less for much less 
E)  all or nothing

Question 11

Which positioning strategy offers consumers a "good deal" by offering equivalent-quality products or services at a lower price?

Accepted Answer

A)  more for the same 
B)  more for less 
C)  same for less 
D)  less for much less 
E)  all or nothing

Question 12

Which of the following is NOT a drawback of local marketing?

Accepted Answer

A)  It can drive up manufacturing costs. 
B)  It can drive up marketing costs by reducing economies of scale. 
C)  It can create logistics problems. 
D)  A brand's overall image might be diluted through too much variation. 
E)  Supporting technologies are not available.

Question 13

Is there segmentation at work when marketers prepare special offers and ads for occasions such as Valentine's Day,Lunar New Year,and Christmas? Explain your answer.

Accepted Answer

The answer of Is there segmentation at work when marketers...

Question 14

When Pacific Fisheries Pte Ltd groups its customers by regions such as Asia,Australia,or New Zealand,it is using which segmenting base?

Accepted Answer

A)  economic factors 
B)  political and legal factors 
C)  geographic location 
D)  benefits sought 
E)  demographics

Question 15

Your assignment at work is to divide buyers into different groups based on social class,lifestyle,and personality characteristics.After a planning session with the marketing and sales staff,you issue a memo to upper management recommending psychographic segmentation.You are right on target.

Accepted Answer

A) True 
 B)False

Question 16

When might be the best time for a marketer to use geographic segmentation?

Accepted Answer

The answer of When might be the best time for...

Question 17

A catalog retailer has identified Asians between the ages of thirty-five and forty-five as the group of customers within the larger market that is a potential market for its products.The retailer plans to direct its marketing efforts toward this group of consumers.The retailer has identified a ________.

Accepted Answer

A)  target market 
B)  marketing mix 
C)  product mix 
D)  mass market 
E)  market aggregation

Question 18

Demographic segmentation can be used to divide the market by different time periods of people's lives and different family situations.

Accepted Answer

A) True 
 B)False

Question 19

Though the use of mass marketing has been widespread in the past 100 years,for centuries consumers were served as individuals as businesses practiced individual marketing.

Accepted Answer

A) True 
 B)False

Question 20

Using concentrated marketing,the marketer goes after a ________ share of ________.

Accepted Answer

A)  small; a small market 
B)  small; a large market 
C)  large; one or a few niches 
D)  large; the mass market 
E)  moderate; local

Exam 7: Customer-Driven Marketing Strategy: Creating Value for Target Customers

________ helps a company to market more effectively in the face of pronounced regional and local differences in demographics and lifestyles.

To evaluate the different market segments your company serves,you would look at all of these factors EXCEPT which one?

A company or market offer can be differentiated along the lines of product,image,services,channels,or ________.

Which type of differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage,expertise,and performance?

Explain how market variability impacts the choice of a target-marketing strategy.

When a company interacts one-on-one with large numbers of customers to create customer-unique value by designing products and services tailor-made to individual needs,it is following ________.

Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger companies.

In target marketing,the issue of social responsibility is not really who is targeted,but rather and for .

When it first opened for business,Home 4 Less claimed to offer better products at lower prices.This difficult to sustain value proposition is called ________.

Which positioning strategy offers consumers a "good deal" by offering equivalent-quality products or services at a lower price?

Which of the following is NOT a drawback of local marketing?

Is there segmentation at work when marketers prepare special offers and ads for occasions such as Valentine's Day,Lunar New Year,and Christmas? Explain your answer.

When Pacific Fisheries Pte Ltd groups its customers by regions such as Asia,Australia,or New Zealand,it is using which segmenting base?

Your assignment at work is to divide buyers into different groups based on social class,lifestyle,and personality characteristics.After a planning session with the marketing and sales staff,you issue a memo to upper management recommending psychographic segmentation.You are right on target.

When might be the best time for a marketer to use geographic segmentation?

Demographic segmentation can be used to divide the market by different time periods of people's lives and different family situations.

Though the use of mass marketing has been widespread in the past 100 years,for centuries consumers were served as individuals as businesses practiced individual marketing.

Using concentrated marketing,the marketer goes after a share of .