Question 1

Today,marketers are increasingly emphasizing a Tiffany/Walmart strategy,which is to offer

Accepted Answer

A)  a low-priced product to a high-income or high net worth segment.
B)  a high-priced product to a low-income or low net worth segment.
C)  different variations of the same basic offering to high-end and low-end segments.
D)  a high-priced and a low-priced offering to a single market segment.
E)  different offerings to high-end and low-end segments.F) None of the above
G) All of the above

Question 2

Magazines like Fitness,Field & Stream,Golf Digest,and Health focus on how people live their lives,and thus all use a __________ segmentation strategy.

Accepted Answer

A)  psychographic
B)  behavioral
C)  situational
D)  socioeconomic
E)  geographicF) A) and D)
G) None of the above

Question 3

Alamo,a car rental firm,targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year.Alamo likely segments its market by

Accepted Answer

A)  usage rate.
B)  benefits offered.
C)  demographics.
D)  geography.
E)  lifestyle.F) All of the above
G) B) and E)

Question 4

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

Accepted Answer

Product differentiation involves a firm ...

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?"F) C) and D)
G) A) and D)

Question 6

In marketing,each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

Accepted Answer

A)  market segment
B)  demographic cluster
C)  organizational buyer group
D)  ultimate consumer group
E)  qualified prospect groupF) D) and E)
G) B) and D)

Question 7

Head-to-head positioning requires a product to

Accepted Answer

A)  compete with products from competitors of the same size.
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)  compete against very similar products from the same company (its own) .
E)  compete against a single competitor with an identical offering.F) D) and E)
G) B) and D)

Question 8

Which of the following is a criterion used for selecting a target segment?

Accepted Answer

A)  potential for increased profit
B)  similarity of needs of potential buyers within a segment
C)  cost of reaching the segment
D)  difference of needs of buyers among segments
E)  potential of a marketing action to reach a segmentF) A) and B)
G) All of the above

Question 9

Why would an organization produce a single product or service and then attempt to sell it to two or more market segments?

Accepted Answer

An organization would produce a single p...

Question 10

A market-product grid is a framework to relate

Accepted Answer

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

Question 11

Variables that are based on some objective physical (gender,ethnicity) ,measurable (age,income) ,or other classification attribute (occupation) of prospective customers are used in which segmentation base?

Accepted Answer

A)  personality
B)  usage
C)  needs
D)  demographic
E)  behavioralF) B) and C)
G) A) and E)

Question 12

Selling a product to a different market segment usually requires a different marketing action that in turn means greater costs.If increased revenues don't offset extra costs of this action,a marketer should __________.

Accepted Answer

A)  increase the advertising budget
B)  prune the product offerings
C)  family brand their products
D)  combine segments
E)  group products into categoriesF) A) and D)
G) A) and E)

Question 13

Evergreen Air Center in Marana,Arizona,is the world's biggest parking lot for unwanted commercial aircraft.Airlines pay from $750 to $5,000 a month for its storage service.The warm,dry air where the operation is located serves as a cheap and effective airplane preservative.Which organizational segmentation variable might Evergreen use to segment the market?

Accepted Answer

A)  NAICS sector,such as manufacturers,or retailers,or lawyers
B)  number of locations
C)  "who buys," such as individual buyer or buying groups
D)  metropolitan statistical area
E)  number of employeesF) A) and D)
G) B) and E)

Question 14

Which of the following is a criterion used for selecting a target segment?

Accepted Answer

A)  potential for increased profit
B)  similarity of needs of potential buyers within a segment
C)  difference of needs of buyers among segments
D)  competitive position
E)  potential of a marketing action to reach a segmentF) C) and E)
G) A) and B)

Question 15

All of the following are geographic segmentation variables EXCEPT:

Accepted Answer

A)  density
B)  city size
C)  region
D)  VALS
E)  statistical areaF) B) and D)
G) B) and C)

Question 16

The fifth step in segmenting and targeting markets that link customer needs to marketing actions is to __________.

Accepted Answer

A)  take marketing actions to reach target markets
B)  group potential buyers into segments
C)  select target markets
D)  group products to be sold into categories
E)  develop a market-product grid and estimate size of the overall marketF) A) and C)
G) A) and B)

Question 17

Nike employs a __________ strategy at its website,nikeid.com,which allows customers design a sneaker to their own personal specifications.

Accepted Answer

A)  product sampling
B)  product clustering
C)  mass customization
D)  usage segmentation
E)  psychographic segmentationF) A) and E)
G) A) and D)

Question 18

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a __________.

Accepted Answer

A)  payoff table
B)  cross-tabulation
C)  market-product grid
D)  growth-share matrix
E)  product differentiation tableF) A) and E)
G) A) and D)

Question 19

A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands,as well as its own product or brand,is referred to as a

Accepted Answer

A)  perception matrix.
B)  growth-share matrix.
C)  market-product grid.
D)  perceptual map.
E)  product differentiation chart.F) A) and B)
G) D) and E)

Question 20

Post Grape-Nuts cereal has been marketed since the early 20th century.Its market share has been steadily declining as consumers began associating it with something their grandfathers ate.Post recently launched a campaign to increase consumption of the cereal by inviting consumers to sprinkle the crunchy cereal on yogurt,salad,or soup as a delicious addition.Post wanted to convince people either who had never tried the cereal or 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)  demographicF) None of the above
G) B) and E)

Exam 8: Market Segmentation, Targeting, and Positioning

All of the following are geographic segmentation variables EXCEPT:

Correct Answer
verified

Alamo,a car rental firm,targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year.Alamo likely segments its market by

Correct Answer
verified

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

Correct Answer
verified

Variables that are based on some objective physical (gender,ethnicity) ,measurable (age,income) ,or other classification attribute (occupation) of prospective customers are used in which segmentation base?

Correct Answer
verified

Nike employs a __________ strategy at its website,nikeid.com,which allows customers design a sneaker to their own personal specifications.

Correct Answer
verified

Which of the following is a criterion used for selecting a target segment?

Correct Answer
verified

Today,marketers are increasingly emphasizing a Tiffany/Walmart strategy,which is to offer

Correct Answer
verified

A market-product grid is a framework to relate

Correct Answer
verified

A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands,as well as its own product or brand,is referred to as a

Correct Answer
verified

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a __________.

Correct Answer
verified

Which of the following is a criterion used for selecting a target segment?

Correct Answer
verified

In marketing,each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

Correct Answer
verified

Selling a product to a different market segment usually requires a different marketing action that in turn means greater costs.If increased revenues don't offset extra costs of this action,a marketer should __________.

Correct Answer
verified

Magazines like Fitness,Field & Stream,Golf Digest,and Health focus on how people live their lives,and thus all use a __________ segmentation strategy.

Correct Answer
verified

Correct Answer
verified

Head-to-head positioning requires a product to

Correct Answer
verified

The fifth step in segmenting and targeting markets that link customer needs to marketing actions is to __________.

Correct Answer
verified

Why would an organization produce a single product or service and then attempt to sell it to two or more market segments?

Correct Answer
verified
An organization would produce a single p...
View Answer

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

Correct Answer
verified
Product differentiation involves a firm ...
View Answer

Correct Answer
verified

Exam 8: Market Segmentation, Targeting, and Positioning

All of the following are geographic segmentation variables EXCEPT:

Correct AnswerverifiedShow Answer

Alamo,a car rental firm,targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year.Alamo likely segments its market by

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Variables that are based on some objective physical (gender,ethnicity) ,measurable (age,income) ,or other classification attribute (occupation) of prospective customers are used in which segmentation base?

Correct AnswerverifiedShow Answer

Nike employs a __________ strategy at its website,nikeid.com,which allows customers design a sneaker to their own personal specifications.

Correct AnswerverifiedShow Answer

Which of the following is a criterion used for selecting a target segment?

Correct AnswerverifiedShow Answer

Today,marketers are increasingly emphasizing a Tiffany/Walmart strategy,which is to offer

Correct AnswerverifiedShow Answer

A market-product grid is a framework to relate

Correct AnswerverifiedShow Answer

A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands,as well as its own product or brand,is referred to as a

Correct AnswerverifiedShow Answer

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a __________.

Correct AnswerverifiedShow Answer

Which of the following is a criterion used for selecting a target segment?

Correct AnswerverifiedShow Answer

In marketing,each __________ consists of people who are relatively similar to each other in terms of their consumption behavior.

Correct AnswerverifiedShow Answer

Selling a product to a different market segment usually requires a different marketing action that in turn means greater costs.If increased revenues don't offset extra costs of this action,a marketer should __________.

Correct AnswerverifiedShow Answer

Magazines like Fitness,Field & Stream,Golf Digest,and Health focus on how people live their lives,and thus all use a __________ segmentation strategy.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Head-to-head positioning requires a product to

Correct AnswerverifiedShow Answer

The fifth step in segmenting and targeting markets that link customer needs to marketing actions is to __________.

Correct AnswerverifiedShow Answer

Why would an organization produce a single product or service and then attempt to sell it to two or more market segments?

Correct AnswerverifiedAn organization would produce a single p...View AnswerShow Answer

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

Correct AnswerverifiedProduct differentiation involves a firm ...View AnswerShow Answer

Correct AnswerverifiedShow Answer

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An organization would produce a single p...
View Answer

Correct Answer
verified
Product differentiation involves a firm ...
View Answer

Correct Answer
verified