Question 1

The process of marketing strategy planning is about

Accepted Answer

A) identifying as many market opportunities as can be imagined. 
B) narrowing down possible market opportunities to the most attractive ones. 
C) creating products that managers like. 
D) choosing the most profitable market opportunity,regardless of the firm's current abilities and resources. 
E) figuring out how to offer products at the lowest possible price.

Question 2

Which of the following does NOT identify one of the target marketing approaches for developing market-oriented strategies in a broad product-market?

Accepted Answer

A) multiple 
B) single 
C) exclusive 
D) combined

Question 3

Deciding whether a group of customers should be included in a target market is the purpose of ________ dimensions.

Accepted Answer

A) behavioral 
B) demographic 
C) determining 
D) qualifying 
E) geographic

Question 4

If a product-market segment is "homogeneous within," it is called a "substantial" target market.

Accepted Answer

A) True 
 B)False

Question 5

Segmenting a broad product-market usually requires using several segmenting dimensions at the same time.

Accepted Answer

A) True 
 B)False

Question 6

When evaluating international markets,the marketing manager should

Accepted Answer

A) focus primarily on consumer markets because foreign business markets are in general too risky. 
B) not worry very much about segmenting because marketing concepts are not very well developed in most other economies. 
C) consider the whole "foreign market" as a segment. 
D) use broad criteria,such as geographic region or stage of economic development,to define submarkets before further segmenting. 
E) treat each foreign market as a separate segment.

Question 7

Market segmentation says that target marketers should develop one good marketing mix aimed at a fairly large market.

Accepted Answer

A) True 
 B)False

Question 8

Jazzy Tile Co.segmented its broad product-market and decided to aim at two different segments,offering each segment a different marketing mix.Jazzy Tile Co.is following the ________ approach.

Accepted Answer

A) mass marketing 
B) multiple target market 
C) combined target market 
D) single target market 
E) None of these answers is correct.

Question 9

Which of the following statements about segmenting is true?

Accepted Answer

A) Segmenting is usually a riskier approach than combining. 
B) Segmenters try to satisfy consumers "very well" instead of "pretty well." 
C) Segmenting limits a firm to smaller sales potential and lower profits. 
D) A segmenter with limited resources may have to use the multiple target market approach instead of the single target market approach. 
E) All these answers are correct.

Question 10

The combined target market approach

Accepted Answer

A) tends to focus on small,homogeneous market segments. 
B) aims at several target markets and offers each target market a unique marketing mix. 
C) tries to improve the general appeal of a firm's basic marketing mix rather than tailor it to meet the strongly felt needs of some people. 
D) works well only when each submarket of a product-market has a different demand curve. 
E) None of these answers is correct.

Question 11

Ideally,segmenters should start with the idea that each person is "one of a kind" and can be described by a special set of dimensions that may be used to aggregate similar customers together.

Accepted Answer

A) True 
 B)False

Question 12

A large firm with ample resources wants to minimize the risk of "inviting" competitors to "chip away" at its target market(s).It has segmented its broad product-market and identified several homogeneous submarkets-each of which is large enough to offer attractive sales and profit potential.Which of the following approaches should the firm use?

Accepted Answer

A) multiple target market approach 
B) mass marketing approach 
C) combined target market approach 
D) single target market approach 
E) niche market targeting approach

Question 13

Which of the following is NOT part of a product-market definition?

Accepted Answer

A) information about consumer needs 
B) information about the final customer (or user)of the product 
C) information about which specific retailers will sell the product 
D) a description of the type of product

Question 14

Business-to-business markets,with very large customers,have typically

Accepted Answer

A) treated customers individually as segments of one. 
B) mass marketed the same products to all customer segments. 
C) delivered the same marketing mix to all customer segments. 
D) reduced their personalization efforts to the lowest levels possible. 
E) avoided applying the principles behind customer relationship management.

Question 15

Clustering techniques can be used in segmenting to help find similar patterns within sets of data to identify homogeneous groups of people.

Accepted Answer

A) True 
 B)False

Question 16

To understand the narrowing-down process,it is useful for mangers to think in terms of a ________ market and a ________ market.

Accepted Answer

A) generic; product 
B) buyer's; seller's 
C) goods; services 
D) primary; secondary 
E) risky; certain

Question 17

Planning the Place and Promotion elements of a marketing mix is especially difficult if the dimensions of a product-market are not operational.

Accepted Answer

A) True 
 B)False

Question 18

The correct number of submarkets in a broad product-market is usually obvious,so the likelihood of managerial error is small.

Accepted Answer

A) True 
 B)False

Question 19

Positioning maps are based on

Accepted Answer

A) the actual objective characteristics of products. 
B) the opinions of the marketing managers. 
C) the potential places where a product may be sold and purchased. 
D) the prices of competing products. 
E) customers' perceptions of products.

Question 20

Which of the following is NOT a valid criterion of a "good" market segment?

Accepted Answer

A) homogeneous within 
B) heterogeneous between 
C) substantial 
D) remarkable 
E) operational

Exam 4: Focusing Marketing Strategy With Segmentation and Positioning

The process of marketing strategy planning is about

Which of the following does NOT identify one of the target marketing approaches for developing market-oriented strategies in a broad product-market?

Deciding whether a group of customers should be included in a target market is the purpose of ________ dimensions.

If a product-market segment is "homogeneous within," it is called a "substantial" target market.

Segmenting a broad product-market usually requires using several segmenting dimensions at the same time.

When evaluating international markets,the marketing manager should

Market segmentation says that target marketers should develop one good marketing mix aimed at a fairly large market.

Jazzy Tile Co.segmented its broad product-market and decided to aim at two different segments,offering each segment a different marketing mix.Jazzy Tile Co.is following the ________ approach.

Which of the following statements about segmenting is true?

The combined target market approach

Ideally,segmenters should start with the idea that each person is "one of a kind" and can be described by a special set of dimensions that may be used to aggregate similar customers together.

Which of the following is NOT part of a product-market definition?

Business-to-business markets,with very large customers,have typically

Clustering techniques can be used in segmenting to help find similar patterns within sets of data to identify homogeneous groups of people.

To understand the narrowing-down process,it is useful for mangers to think in terms of a market and a market.

Planning the Place and Promotion elements of a marketing mix is especially difficult if the dimensions of a product-market are not operational.

The correct number of submarkets in a broad product-market is usually obvious,so the likelihood of managerial error is small.

Positioning maps are based on

Which of the following is NOT a valid criterion of a "good" market segment?