Question 1

Mass marketers,such as Target and Venture Stores,often ignore market segment differences and target the whole market with one offer.What is their approach to segmenting?

Accepted Answer

A) differentiated marketing 
B) undifferentiated marketing 
C) target marketing 
D) micromarketing 
E) concentrated marketing

Question 2

Which of the following is the most popular method for segmenting markets?

Accepted Answer

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

Question 3

Your firm has decided to localize its products and services to meet local market demands.A good approach to use would be _ segmentation.

Accepted Answer

A) customer 
B) image 
C) geographic 
D) benefit 
E) end- use

Question 4

"Less- for- much- less" positioning involves meeting consumers' .

Accepted Answer

A) lower quality requirements at the lowest possible price 
B) lower quality requirements in exchange for a lower price 
C) high quality requirements at a discounted rate 
D) quality performance requirements at a lower price 
E) high quality requirements at the lower possible price

Question 5

Today,most companies have moved back toward mass marketing and are being choosier about the customers with whom they wish to build relationships.

Accepted Answer

A) True 
 B)False

Question 6

What competitive positioning can attack a more- for- more strategy by introducing a brand offering with comparable quality at a lower price?

Accepted Answer

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

Question 7

Why might demographic segmentation be the most common type of segmentation?

Accepted Answer

The answer of Why might demographic segmentation be the most...

Question 8

A brand difference is worth establishing and promoting to the extent that it satisfies all of the criteria below EXCEPT which one?

Accepted Answer

A) affordable 
B) distinctive 
C) divisible 
D) important 
E) noticeable

Question 9

Ad man Rosser Reeves believes that firms should develop a USP for each brand and stick to it.What does USP stand for?

Accepted Answer

A) unique services practice 
B) unique selling proposition 
C) unique selling product 
D) unique sales pitch 
E) unique strategic practice

Question 10

Segmenting voters as either Democrats or Republicans is an example of _.

Accepted Answer

A) occasion segmentation 
B) intermarket segmentation 
C) demographic segmentation 
D) psychographic segmentation 
E) A and D

Question 11

The answer to the customer's question "Why should I buy your brand?" is found in the .

Accepted Answer

A) value proposition 
B) quality image 
C) pricing and promotion structure 
D) customer services 
E) differentiation

Question 12

You have just created the "perfect" ad.It communicates the full mix of benefits upon which the brand is differentiated and positioned.This full positioning of the brand is called .

Accepted Answer

A) value profiling 
B) differentiated marketing 
C) target marketing 
D) its value proposition 
E) capturing the consumers' attention

Question 13

Neiman Marcus claims superior quality,performance,and style.The owners provide the most upscale products and services and charge a higher price to cover the higher costs.What type of positioning does Neiman Marcus use?

Accepted Answer

A) more- for- less 
B) repositioning 
C) more- for- the- same 
D) more- for- more 
E) the- same- for- less

Question 14

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 15

Cheap Heaps Auto specializes in lower quality vehicles,with a few dents,that are priced a great deal lower than other used cars.Cheap Heaps has chosen to position its products with a strategy.

Accepted Answer

A) more- for- the same 
B) same- for- less 
C) less- for- much- less 
D) more- for- less 
E) A or C

Question 16

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 17

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

Accepted Answer

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

Question 18

Refer to the scenario below to answer the following questions.
Herb Marks was making wooden writing utensils as a hobby until Mel Yoder recognized Herb's talent.Mel immediately ordered 250 pens and pencils of various styles to be displayed in his shop's showcase.Within three months,the writing utensils were a hit! Herb Marks had never thought of marketing his talent,but Mel's enthusiasm and the recent sales were enough to change his mind.
With limited resources,Herb contacted three additional specialty shops within 100 miles.He explained his
manufacturing processes and engraving options to each.All three shops' owners placed a trial order.Within two months,just prior to the holiday season,each shop owner placed an additional order.Herb was ecstatic!
"I figured business would slow down after that," Herb stated,"but in February I was contacted by Elmore Distributors.At that point,I had to make a huge decision about how far I wanted to go with this business."
Elmore Distributors provides products for school fundraisers in a seven- state area.Herb was offered a two- year contract and immediate inclusion in Elmore's promotional flyer.Herb Marks accepted the offer and,along with it,the responsibility to produce thousands of wooden pens and pencils.
"I had to get a grip on the magnitude of this project," Herb added."I couldn't grow out of control.I was already working to capacity."
Herb decided to place his major focus on the large contract with Elmore.However,to avoid placing his total emphasis with one customer,Herb continued nurturing his four previously established accounts without targeting any additional customers.
"At this point,I had set up an assembly line in a rented building," Herb explained."I had to hire three full- time employees to work the line while I managed the customer orders and purchased materials." Herb paused."But I can't take the Elmore project for granted.It might not always be there.I'll have to have a good alternate plan if that day comes."
-In marketing his writing utensils to his four specialty- shop customers,Herb is using marketing.

Accepted Answer

A) mass 
B) individual 
C) mass customization 
D) niche 
E) undifferentiated

Question 19

Your current assignment at York Foods is to find the major benefits people look for in product classes,the kinds of people who look for each benefit,and the major brands that deliver each benefit.What is this segmentation method called?

Accepted Answer

A) behavioral 
B) benefit 
C) demographic 
D) psychographic 
E) age and life cycle

Question 20

Cigarette,beer,and fast- food marketers have generated much controversy in recent years by their attempts to target .

Accepted Answer

A) inner- city minorities 
B) urban professionals 
C) suburban adults 
D) the elderly 
E) the poor in foreign markets

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