Question 1

What is product position? What functions do perceptual positioning maps serve?

Accepted Answer

The answer of What is product position? What functions do...

Question 2

________ segmentation has long been used in clothing, cosmetics, toiletries, and magazines.

Accepted Answer

A)  Behavioral 
B)  Gender 
C)  Benefit 
D)  Occasion 
E)  Geographic

Question 3

Which of the following is NOT a benefit of using multivariable segmentation systems?

Accepted Answer

A)  help companies identify key customer segments 
B)  help companies reach key customer segments more efficiently 
C)  help companies more accurately price their products to appeal to key customer segments 
D)  help companies better understand key customer segments 
E)  help companies tailor market offering to the needs of the key customer segments

Question 4

Briefly describe geographic segmentation.

Accepted Answer

The answer of Briefly describe geographic segmentation....

Question 5

________ positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs.

Accepted Answer

A)  More for the same 
B)  More for less 
C)  Same for less 
D)  Less for much less 
E)  More for more

Question 6

All of the following are ways a company can differentiate itself or its product EXCEPT ________.

Accepted Answer

A)  services 
B)  channels 
C)  price 
D)  people 
E)  image

Question 7

In the context of behavioral segmentation, who among the following is a potential user?

Accepted Answer

A)  Anita, who recently had a baby 
B)  Peter, who recently changed his job 
C)  Mary, who enrolled as a graduate student in a university last year 
D)  Gina, who opened a dental clinic in Orange County 
E)  Raj, who is planning a trip to Hawaii with friends

Question 8

Why are demographic factors the most popular bases for segmenting customer groups?

Accepted Answer

The answer of Why are demographic factors the most popular...

Question 9

Geographic segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Accepted Answer

A) True 
 B)False

Question 10

________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Accepted Answer

A)  Geographic 
B)  Benefit 
C)  Occasion 
D)  Psychographic 
E)  Demographic

Question 11

Which of the following is NOT one of the major variables used in segmenting consumer markets?

Accepted Answer

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

Question 12

Orion Inc. markets luxury watches. It targets the wealthy global elite segment, regardless of their geographic location. Orion most likely uses ________ segmentation.

Accepted Answer

A)  income 
B)  age-group 
C)  occasion 
D)  benefit 
E)  cross-market

Question 13

________ segmentation assumes that nations close to one another will have many common traits and behaviors.

Accepted Answer

A)  Geographic 
B)  Occasion 
C)  Psychographic 
D)  Benefit 
E)  Demographic

Question 14

How do companies identify attractive market segments? How do they choose a target marketing strategy?

Accepted Answer

The answer of How do companies identify attractive market segments?...

Question 15

A recent study conducted by Estelle Cosmetics Company showed that heavy users of Estelle's products comprise a small percentage of the market. The study indicated that less than 7 percent of all shoppers buy nearly 71 percent of Estelle's products in the United States. This is an example of ________.

Accepted Answer

A)  benefit segmentation 
B)  segmentation by loyalty status 
C)  segmentation by usage rate 
D)  psychographic segmentation 
E)  occasion segmentation

Question 16

Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods. This is an example of ________.

Accepted Answer

A)  geographic segmentation 
B)  product diversification 
C)  branding 
D)  psychographic segmentation 
E)  demographic segmentation

Question 17

List some important factors that companies need to consider when choosing a market-targeting strategy.

Accepted Answer

The answer of List some important factors that companies need...

Question 18

A public relations firm tailors its advertising and promotional services according to the needs and preferences of specific customers. This exemplifies ________.

Accepted Answer

A)  trigger-based marketing 
B)  mass marketing 
C)  segmented marketing 
D)  individual marketing 
E)  concentrated marketing

Question 19

A ________ refers to the way a product is defined by consumers on important attributes-the place the product occupies in consumers' minds relative to competing products.

Accepted Answer

A)  core competency 
B)  value stream 
C)  value proposition 
D)  product position 
E)  product specification

Question 20

Which of the following is true about the concentrated marketing strategy?

Accepted Answer

A)  Companies that rely on a few segments for all of their business will suffer if a segment turns sour. 
B)  Concentrated marketing is not profitable for most firms. 
C)  Niche marketing involves few risks for most firms. 
D)  Concentrated marketing involves going after a small share of a large market. 
E)  The Internet has limited the use and benefits of niche marketing.

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