Question 1

Four general categories used to segment consumer markets are geographic segmentation, demographic segmentation, __________, and behavioral segmentation.

Accepted Answer

A) supplier segmentation 
B) demand segmentation 
C) regional segmentation 
D) psychographic segmentation 
E) NAICS code segmentation

Question 2

FIGURE 9-5 
-According to Figure 9-5 above, Apple would most likely get the least product synergies from

Accepted Answer

A) Mac Pro and MacBook Pro. 
B) Mac Pro and iMac. 
C) Mac Pro and MacBook. 
D) MacBook and MacBook Air. 
E) iMac and MacBook Air.

Question 3

Define market segmentation.How does it link needs with marketing actions?

Accepted Answer

The answer of Define market segmentation.How does it link needs...

Question 4

Post Grape-Nuts cereal has been marketed since early in the 20th century.Its market share has been steadily declining as consumers began associating it with something their grandfather ate.Post recently launched a campaign to increase consumption of the cereal by inviting consumers to try the crunchy cereal on top of their yogurt, their salad, or their bowl of soup as a delicious addition.Post was trying to convince people who had never tried the cereal to try it, and people who were familiar with the product to use it in a variety of different ways.In this example, Post is using which segmentation variable?

Accepted Answer

A) needs 
B) lifestyle 
C) behavioral 
D) psychographic 
E) demographic

Question 5

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the question

Accepted Answer

A) "Is this product useful on a global scale?" 
B) "Would segmentation be worth doing and is it possible?" 
C) "Is it possible to reposition this product?" 
D) "Is there too much competition for this product?" 
E) "Is the market loyal to the product?"

Question 6

A nonprofit food bank was gathering and handing out food to anyone who requested it.It now wants to give free food only to people who go hungry on a regular basis.This will be the market segment it targets.How will the evaluation of its market segment strategy differ from that used for a retail store?

Accepted Answer

The answer of A nonprofit food bank was gathering and...

Question 7

Model E is a new type of car manufacturer that relies on the Internet to build new car designs from prototypes to marketable vehicles much faster than ever before possible."Think of Model E as the Dell of the auto industry, designing products based on what consumers truly want and leveraging best-in-class components and micro-factory approaches for rapid design, launch, and direct delivery," said William Santana Li, president and CEO of Model E.Model E manufactures a car only when there is an order from a customer.Model E relies on

Accepted Answer

A) mass aggregation. 
B) a one-product-one-market-segment strategy. 
C) build-to-order (BTO). 
D) mass customization. 
E) specialty customization.

Question 8

The William Morris Agency represents country singer Trace Adkins in negotiations with various venues in which he could perform.Imagine that the agency decided the singer would not perform at venues located in small town communities that have less than 100,000 people.This basis of venue segmentation is

Accepted Answer

A) nature of good. 
B) psychographic. 
C) geographic. 
D) usage. 
E) buying condition.

Question 9

Differentiation positioning requires a product to

Accepted Answer

A) compete directly with competitors but emphasize unique product attributes. 
B) compete with competitors on similar product attributes in the same market. 
C) compete with competitors on similar product attributes but in a different market. 
D) seek a less competitive, smaller market niche. 
E) compete against other products of the same company.

Question 10

What are the four general bases by which consumer markets can be segmented?

Accepted Answer

The answer of What are the four general bases by...

Question 11

Australia-based Renewable Energy Ltd.sells a $10 million device that converts manure into energy.One of these devices is capable of generating energy equal to $2 million of natural gas per year.The company believes its target market is businesses that use a lot of energy like its first customer, a fertilizer manufacturer, and companies located in rural areas.It most likely will use which of the following strategies to segment its market?

Accepted Answer

A) behavioral and geographic 
B) number of employees and behavioral 
C) purchase location and purchase type 
D) NAICS code and geographic 
E) behavioral and NAICS code

Question 12

When evaluating new breakfast menu items, Wendy's had to consider not only the offerings of Burger King and McDonald's but

Accepted Answer

A) menu items from IHOP and Perkins. 
B) dormitory breakfasts at surrounding schools. 
C) products from gas stations and convenience stores. 
D) the local farmer's market. 
E) Starbucks and Peet's coffee shops

Question 13

A market-product grid is a framework to relate

Accepted Answer

A) estimated expenses for products sold to various market segments. 
B) total anticipated revenue for each product to market segments. 
C) total anticipated profit for each product to segments. 
D) the market segments of potential buyers to relative market share compared to closest competitor. 
E) the market segments of potential buyers to products offered or potential marketing actions by an organization.

Question 14

Todd Harris and Associates, a New York sales promotion agency, discovered from analysis of its files that one-fifth of its clients accounted for more than three-quarters of its fees and commissions.This is an example of what classic concept?

Accepted Answer

A) the law of inverse proportions 
B) the 80/20 rule 
C) the survival of the fittest 
D) the law of eminent domain 
E) the primogeniture rule

Question 15

The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as

Accepted Answer

A) product perception. 
B) relative positioning. 
C) competitive positioning. 
D) product positioning. 
E) selective perception.

Question 16

Market-product grid refers to

Accepted Answer

A) a visual representation of all products offered within a specific product class. 
B) a framework used to compare one firm's product offerings with another firm's offerings in relationship to their relative market share. 
C) a framework used to demonstrate the growth or decline of specific market segments within an organization. 
D) a framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization. 
E) a product differentiation table that allows a firm to identify specific product features and their corresponding market share.

Question 17

A national car rental firm targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year.Its market is likely segmented by

Accepted Answer

A) usage. 
B) benefits offered. 
C) demographics. 
D) geography. 
E) lifestyle.

Question 18

What are the segmentation bases for U.S.organizational markets?

Accepted Answer

The answer of What are the segmentation bases for U.S.organizational...

Question 19

A marketing strategy that involves a firm using different marketing mix activities to help consumers perceive the product as being different and better than competing products is referred to as __________.

Accepted Answer

A) prestige marketing 
B) selective distribution 
C) market differentiation 
D) product discernment 
E) product differentiation

Question 20

Assume you are manager of The Outback Steak House, a franchised restaurant that has newly opened in St.Louis.Describe how you would segment the market according to segmentation bases, using as many segmentation variables as you can, and explaining why each variable is appropriate.

Accepted Answer

The answer of Assume you are manager of The Outback...

Exam 9: Market Segmentation, Targeting, and Positioning