Question 1

Which of the following statements regarding market segmentation is most accurate?

Accepted Answer

A)  Even if a firm finds only one potential market segment,it should take advantage of the opportunity,no matter what.
B)  Market segmentation only works for large corporations because small businesses don't have the resources to engage in the process or implement the resulting marketing actions.
C)  Governments should not attempt market segmentation because there is no need for them to do so.
D)  If a business firm goes to the trouble and expense of segmenting its markets,it expects to increase its sales and profits.
E)  Market segmentation strategies work less than 25% of the time.However,for the instances that it does work,the benefits more than compensate for previous failures.F) B) and D)
G) C) and D)

Question 2

Nielsen PRIZM (part of Nielsen Claritas) segmentation classifies every household into one of 66 demographically and __________ distinct neighborhood segments to identify lifestyles and purchase behavior within a defined geographic market area,such as zip code.

Accepted Answer

A)  financially
B)  behaviorally
C)  ethnically
D)  socially
E)  ethnographicallyF) C) and D)
G) B) and C)

Question 3

It is common to hold potluck meals during holidays or special events.Participants bring casseroles,vegetables,breads,and desserts to share.It is easy to forget to take the bowl that you brought to the dinner home with you.Reynolds responded to this problem by creating PotLux cookware,attractive and inexpensive disposable dishes for transporting food.Reynolds has recognized how to use _________ variables to segment its market.

Accepted Answer

A)  psychographic
B)  behavioral
C)  demographic
D)  social
E)  geographicF) C) and E)
G) B) and E)

Question 4

A rehabilitation center wants to target women in their 20s who have received some permanent disability as the result of a skiing accident.In terms of the criteria used for selecting a target segment,this market would

Accepted Answer

A)  have no expected growth.
B)  not be compatible with the company's current resources.
C)  not be worth doing since its market size is very small.
D)  not be readily accessible to the firm's marketing programs.
E)  be relatively difficult to access.F) A) and D)
G) A) and C)

Question 5

The primary focus of Zappos' market segmentation strategy is to sell

Accepted Answer

A)  a wide selection of shoes,clothes,accessories,and housewares to people who will buy them online.
B)  a wide selection of leather shoes and boots to retailers.
C)  all types of shoes,accessories,and clothing to department stores.
D)  Spanish novelties and accessories to organizations.
E)  shoes in its own retail stores.F) All of the above
G) A) and D)

Question 6

A key to positioning a product or brand effectively is discovering the perceptions of its potential customers.In determining its positioning in the minds of customers,companies take four steps: (1) identify the important attributes for the product or brand class; (2) discover how target customers rate competing products or brands with respect to these attributes; (3) ___________; and (4) reposition the company's product or brand in the minds of potential customers.

Accepted Answer

A)  discover where the company's product or brand is on these attributes in the minds of potential customers
B)  decide whether to keep or delete the market segment that your product offering targets
C)  identify the competitors' brands that make up the consideration set
D)  create a marketing plan based on customers' perceptions
E)  identify market niches that were not previously selected during the market segmentation processF) A) and B)
G) A) and C)

Question 7

Personality and lifestyle are both variables used to employ __________ segmentation.

Accepted Answer

A)  geographic
B)  behavioral
C)  attitudinal
D)  psychographic
E)  demographicF) A) and D)
G) C) and D)

Question 8

Samsung sells a variety of TVs,from simple and small ones to large smart TVs with Internet connectivity and 3D technology.Customers prefer different features,so Samsung uses which type of segmentation variable based on their viewing preferences?

Accepted Answer

A)  demographic segmentation
B)  psychographic segmentation
C)  behavioral segmentation
D)  geographic segmentation
E)  socioeconomic segmentationF) B) and E)
G) D) and E)

Question 9

Some Timex wristwatches can be purchased for less than $30 while some Rolex wristwatches carry a price tag of several thousand dollars.In general,consumers view Timex watches as being dependable,relatively accurate,and inexpensive.The Rolex brand tends to be perceived as an expensive status symbol.Timex watches can be purchased in drug stores,discount stores,and department stores in all sizes of communities.Rolex watches are distributed more selectively,and are often available only in fine jewelry stores or specialty shops in major cities.By using distinctly different pricing and distribution strategies,the marketers of Rolex watches

Accepted Answer

A)  compete for the same segment through different channels of distribution.
B)  develop similar products as Timex but under different names.
C)  use a differentiation positioning strategy.
D)  compete for the same customers through similar retail outlets.
E)  create cognitive dissonance in consumers who purchased Timex wristwatches.F) B) and E)
G) A) and D)

Question 10

Which of the following in NOT 
a criterion to use in forming market segments?

Accepted Answer

A)  The ability to assign buyers to a segment is cost-effective and simple.
B)  The result of segmenting will cause an increase in market share or profit.
C)  There are significant similarities among buyers in the market segment.
D)  There is a potential marketing action to reach the segment.
E)  The cost to reach the segment is exceeds its profitability.F) C) and D)
G) A) and B)

Question 11

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."Think of Model E as the Dell of the auto industry.We design just a few products that consumers truly want,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 each car when a customer chooses from a limited number of options and orders.Model E relies on

Accepted Answer

A)  order customization.
B)  a one product one market segment strategy.
C)  build-to-order.
D)  mass customization.
E)  specialty customization.F) B) and D)
G) All of the above

Question 12

Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands

Accepted Answer

A)  against large market segments in a market-product grid.
B)  against small market segments in a market-product grid.
C)  in virtual space that represents the business or product's time in existence and growth.
D)  in the minds of consumers.
E)  against the revenues generated by other products or brands within the company.F) A) and D)
G) A) and B)

Question 13

Hallmark placed its scrapbook supplies,photo albums,and related supplies into one product group because

Accepted Answer

A)  it was easier to forecast future sales since there were fewer market-product combinations.
B)  customers could buy in quantity and take advantage of quantity discounts.
C)  their suppliers provided free displays and shelving to highlight Hallmark's products.
D)  it helped buyers relate to the products and make decisions in a more meaningful way.
E)  it allowed customers to compare price and quality with competitors who displayed their products in a similar manner.F) B) and D)
G) None of the above

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)  potential of a marketing action to reach a segment
E)  compatibility with the organization's objectives and resourcesF) B) and E)
G) D) and E)

Question 15

It is not recommended that a firm select a target segment that

Accepted Answer

A)  would require entry in a global marketplace.
B)  requires more than one marketing action.
C)  has few competitors that target this same segment.
D)  is incompatible with its company's goals or objectives.
E)  has a growth potential that would require increasing the current workforce.F) B) and C)
G) C) and D)

Question 16

All of the following are market segmentation strategies EXCEPT:

Accepted Answer

A)  build-to-order.
B)  multiple products,multiple market segments.
C)  one product,multiple market segments.
D)  multiple products,one segment.
E)  mass customization.F) A) and D)
G) B) and C)

Question 17

Market segmentation involves aggregating prospective buyers into groups that (1) will respond similarly to a marketing action and (2)

Accepted Answer

A)  respond similarly to marketing messages.
B)  have common needs.
C)  have similar shopping styles.
D)  will become loyal customers.
E)  will become stakeholders of the organization.F) A) and B)
G) All of the above

Question 18

A positioning approach that involves seeking a less competitive,smaller market niche in which to locate a brand is referred to as __________.

Accepted Answer

A)  competitive repositioning
B)  head-to-head positioning
C)  differentiation positioning
D)  downsize positioning
E)  product repositioningF) A) and E)
G) A) and D)

Question 19

The greatest benefit to consumers when a firm chooses a one product,multiple market segment strategy is __________.

Accepted Answer

A)  improved service
B)  increased number of choices
C)  higher product quality and consumer value
D)  lower retail prices because of lower marketing costs
E)  lower retail prices because of lower production costsF) A) and B)
G) B) and D)

Question 20

Assume you are manager of The Outback Steak House,a franchised restaurant that has opened at new location in St.Louis.Describe which segmentation base(s)and possible segmentation variable(s)you would use to segment the its market and explain why each supports the appropriate market segmentation strategy.

Accepted Answer

Students should choose from the segmenta...

Exam 8: Market Segmentation, Targeting, and Positioning

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

Correct Answer
verified

Market segmentation involves aggregating prospective buyers into groups that (1) will respond similarly to a marketing action and (2)

Correct Answer
verified

Personality and lifestyle are both variables used to employ __________ segmentation.

Correct Answer
verified

A rehabilitation center wants to target women in their 20s who have received some permanent disability as the result of a skiing accident.In terms of the criteria used for selecting a target segment,this market would

Correct Answer
verified

It is not recommended that a firm select a target segment that

Correct Answer
verified

Which of the following in NOT a criterion to use in forming market segments?

Correct Answer
verified

The primary focus of Zappos' market segmentation strategy is to sell

Correct Answer
verified

Correct Answer
verified

Samsung sells a variety of TVs,from simple and small ones to large smart TVs with Internet connectivity and 3D technology.Customers prefer different features,so Samsung uses which type of segmentation variable based on their viewing preferences?

Correct Answer
verified

Correct Answer
verified

All of the following are market segmentation strategies EXCEPT:

Correct Answer
verified

Hallmark placed its scrapbook supplies,photo albums,and related supplies into one product group because

Correct Answer
verified

The greatest benefit to consumers when a firm chooses a one product,multiple market segment strategy is __________.

Correct Answer
verified

Nielsen PRIZM (part of Nielsen Claritas) segmentation classifies every household into one of 66 demographically and __________ distinct neighborhood segments to identify lifestyles and purchase behavior within a defined geographic market area,such as zip code.

Correct Answer
verified

Correct Answer
verified

A positioning approach that involves seeking a less competitive,smaller market niche in which to locate a brand is referred to as __________.

Correct Answer
verified

Which of the following statements regarding market segmentation is most accurate?

Correct Answer
verified

Correct Answer
verified
Students should choose from the segmenta...
View Answer

Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands

Correct Answer
verified

Correct Answer
verified

Exam 8: Market Segmentation, Targeting, and Positioning

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

Correct AnswerverifiedShow Answer

Market segmentation involves aggregating prospective buyers into groups that (1) will respond similarly to a marketing action and (2)

Correct AnswerverifiedShow Answer

Personality and lifestyle are both variables used to employ __________ segmentation.

Correct AnswerverifiedShow Answer

A rehabilitation center wants to target women in their 20s who have received some permanent disability as the result of a skiing accident.In terms of the criteria used for selecting a target segment,this market would

Correct AnswerverifiedShow Answer

It is not recommended that a firm select a target segment that

Correct AnswerverifiedShow Answer

Which of the following in NOT a criterion to use in forming market segments?

Correct AnswerverifiedShow Answer

The primary focus of Zappos' market segmentation strategy is to sell

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Samsung sells a variety of TVs,from simple and small ones to large smart TVs with Internet connectivity and 3D technology.Customers prefer different features,so Samsung uses which type of segmentation variable based on their viewing preferences?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of the following are market segmentation strategies EXCEPT:

Correct AnswerverifiedShow Answer

Hallmark placed its scrapbook supplies,photo albums,and related supplies into one product group because

Correct AnswerverifiedShow Answer

The greatest benefit to consumers when a firm chooses a one product,multiple market segment strategy is __________.

Correct AnswerverifiedShow Answer

Nielsen PRIZM (part of Nielsen Claritas) segmentation classifies every household into one of 66 demographically and __________ distinct neighborhood segments to identify lifestyles and purchase behavior within a defined geographic market area,such as zip code.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A positioning approach that involves seeking a less competitive,smaller market niche in which to locate a brand is referred to as __________.

Correct AnswerverifiedShow Answer

Which of the following statements regarding market segmentation is most accurate?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedStudents should choose from the segmenta...View AnswerShow Answer

Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Students should choose from the segmenta...
View Answer

Correct Answer
verified

Correct Answer
verified