Question 1

The place at which a particular market segment's model product would lie on a perceptual map is referred to as a(n):

Accepted Answer

A) self-concept. 
B) ideal point. 
C) self-value. 
D) lifestyle. 
E) self-moral.

Question 2

Style Stay is a lifestyle store that deals with expensive and aesthetic products.Most of its clientele belong to the elite class of society, achievers in their own right, who want to make a style statement associated with exclusivity.This is an example of:

Accepted Answer

A) geographic segmentation. 
B) benefit segmentation. 
C) demographic segmentation. 
D) loyalty segmentation. 
E) psychographic segmentation.

Question 3

A company, which has a clothing line, launches a marketing campaign that features Hollywood stars and well-known sports personalities.These individuals are those with whom consumers might want to identify.This is an example of:

Accepted Answer

A) geographic segmentation. 
B) benefit segmentation. 
C) demographic segmentation. 
D) loyalty segmentation. 
E) psychographic segmentation.

Question 4

Which of the following is a part of the vertical dimension as established by VALS?

Accepted Answer

A) ideals 
B) achievement 
C) self-expression 
D) innovativeness 
E) self-value

Question 5

When the car did not do well in the premium segment, the company changed the target segment.It lowered the price and aimed the product at the middle-income bracket.This is called:

Accepted Answer

A) brand repositioning. 
B) positioning. 
C) perceptual mapping. 
D) mass marketing. 
E) micro marketing.

Question 6

A fast-food chain targets young males who account for almost 75 percent of all customer visits and visit the restaurant, on average, 20 times a month.They are called "Jumbo" customers.The fast-food chain has segmented its customers on the basis of usage rate, with the "Jumbo" customers being the heavy users.This is an example of:

Accepted Answer

A) geographic segmentation. 
B) behavioural segmentation. 
C) demographic segmentation. 
D) geodemographic segmentation. 
E) psychographic segmentation.

Question 7

Makers Shoes often has interesting offers for regular customers.These customers are the first to be informed about a new collection.Also, when shoes are on sale, they receive a newsletter in which they are given the opportunity to be the first to avail themselves of the special discounts available.This is an example of:

Accepted Answer

A) geographic segmentation. 
B) benefit segmentation. 
C) demographic segmentation. 
D) loyalty segmentation. 
E) psychographic segmentation.

Question 8

"Symbolism" as a positioning strategy refers to the:

Accepted Answer

A) attributes that are most important to the target market. 
B) relationship of price to quality. 
C) psychological meaning of the brand to consumers. 
D) positioning of the product or service against a specific competitor or within the target market. 
E) position of the product in the market.

Question 9

Explain the limitations of psychographic segmentation.

Accepted Answer

The answer of Explain the limitations of psychographic segmentation....

Question 10

Firms embrace differentiated segmentation because:

Accepted Answer

A) it is much easier to plan promotional strategies for different products being offered to different segments of the market. 
B) it helps them obtain a bigger share of the market and increase the market for their products overall. 
C) there is no need to develop separate strategies for different groups. 
D) it protects the dilution of the brand. 
E) it is inexpensive and cost-effective.

Question 11

Childcare Company produces baby products.It provides product samples to parents-to-be in order to capture a share of their future purchases.It has created a website where parents can get expert parenting advice.It targets potential user groups who can be converted into heavy users.This is an example of:

Accepted Answer

A) differentiated segmentation. 
B) behavioural segmentation. 
C) geodemographic segmentation. 
D) undifferentiated segmentation. 
E) concentrated segmentation.

Question 12

A company launches a wide range of perfumes.These perfumes are designed to be combined by the user in different ways to create unique scents.This is an example of:

Accepted Answer

A) mass customization. 
B) brand repositioning. 
C) perceptual mapping. 
D) positioning. 
E) brand extension.

Question 13

A marketing strategy of selecting a single primary target market and focusing all energies on providing a product to fit that market's needs is called:

Accepted Answer

A) differentiated segmentation. 
B) behavioural segmentation. 
C) geodemographic segmentation. 
D) undifferentiated segmentation. 
E) concentrated segmentation.

Question 14

Self-respect, self-fulfillment, or a sense of belonging are typically examples of:

Accepted Answer

A) self-concept. 
B) ideal point. 
C) self-value goals. 
D) lifestyle. 
E) self-morals.

Question 15

A graph shows consumer perceptions of various automobiles on the two dimensions of sportiness/conservative and classy/affordable.The graph would be called a:

Accepted Answer

A) brand map. 
B) positioning map. 
C) perceptual map. 
D) marketing map. 
E) conceptual map.

Question 16

An upscale restaurant that previously flourished on expense account dinners and corporate events has also started stressing value as a sales tool.This is an example of:

Accepted Answer

A) brand repositioning. 
B) positioning. 
C) perceptual mapping. 
D) mass marketing. 
E) micro marketing.

Question 17

In a certain Canadian province, some areas are populated by young Hispanics who are mainly blue-collar workers.They are not highly educated and live in rented apartments.However, some college graduates do inhabit this low-income area.They have white-collar service jobs.They go on vacations and read financial dailies.A company that develops products to serve both groups of people is using:

Accepted Answer

A) differentiated segmentation. 
B) behavioural segmentation. 
C) geodemographic segmentation. 
D) undifferentiated segmentation. 
E) concentrated segmentation.

Question 18

John Deere manufactures seeding equipment that can be modified in about two million ways to provide a unique version to an individual customer.It fulfills individual customer expectations.This is an example of:

Accepted Answer

A) mass customization. 
B) brand repositioning. 
C) perceptual mapping. 
D) positioning. 
E) mass marketing.

Question 19

A large passenger-ship company targets only older, rich people for its round-the-world cruises.This is an example of:

Accepted Answer

A) differentiated segmentation. 
B) behavioural segmentation. 
C) geodemographic segmentation. 
D) undifferentiated segmentation. 
E) concentrated segmentation.

Question 20

Developing a market segmentation strategy for traditional channels is easier than developing it over the Internet.

Accepted Answer

A) True 
 B)False

Exam 7: Value Creation Developing New Products

The place at which a particular market segment's model product would lie on a perceptual map is referred to as a(n) :

Style Stay is a lifestyle store that deals with expensive and aesthetic products.Most of its clientele belong to the elite class of society, achievers in their own right, who want to make a style statement associated with exclusivity.This is an example of:

A company, which has a clothing line, launches a marketing campaign that features Hollywood stars and well-known sports personalities.These individuals are those with whom consumers might want to identify.This is an example of:

Which of the following is a part of the vertical dimension as established by VALS?

When the car did not do well in the premium segment, the company changed the target segment.It lowered the price and aimed the product at the middle-income bracket.This is called:

"Symbolism" as a positioning strategy refers to the:

Explain the limitations of psychographic segmentation.

Firms embrace differentiated segmentation because:

A company launches a wide range of perfumes.These perfumes are designed to be combined by the user in different ways to create unique scents.This is an example of:

A marketing strategy of selecting a single primary target market and focusing all energies on providing a product to fit that market's needs is called:

Self-respect, self-fulfillment, or a sense of belonging are typically examples of:

A graph shows consumer perceptions of various automobiles on the two dimensions of sportiness/conservative and classy/affordable.The graph would be called a:

An upscale restaurant that previously flourished on expense account dinners and corporate events has also started stressing value as a sales tool.This is an example of:

John Deere manufactures seeding equipment that can be modified in about two million ways to provide a unique version to an individual customer.It fulfills individual customer expectations.This is an example of:

A large passenger-ship company targets only older, rich people for its round-the-world cruises.This is an example of:

Developing a market segmentation strategy for traditional channels is easier than developing it over the Internet.