Question 1

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

Accepted Answer

A)  similarity of needs of potential buyers within a segment
B)  difference of needs of sellers between segments
C)  feasibility of a marketing action to reach a segment
D)  market size
E)  simplicity and cost of assigning potential buyers to segmentsF) C) and E)
G) A) and D)

Question 2

What are two approaches to product positioning? Give an example of each approach.

Accepted Answer

There are two major approaches to positi...

Question 3

MyTwinn makes dolls that look like young girls.For $119,the firm will make a doll that looks just like a photograph.So,if you send in the money and a photo of your young niece,she could have a doll that is her twin! This is an example of

Accepted Answer

A)  family branding.
B)  "Tiffany" marketing.
C)  multiple products and multiple market segments.
D)  mass customization.
E)  specialty customization.F) B) and E)
G) C) and D)

Question 4

An analysis of the pillow market using a market-product grid suggests that the most important 
segment to target is

Accepted Answer

A)  side sleepers.
B)  sleepers with sleep disorders,such as sleep apnea.
C)  sleepers with annual incomes of $50,000 and over.
D)  back sleepers.
E)  stomach sleepers.F) A) and B)
G) A) and E)

Question 5

A perceptual map refers to

Accepted Answer

A)  a framework used to compare one firm's product offerings with another firm's offerings in relationship to their relative market share.
B)  a framework used to demonstrate the growth or decline of specific market segments within an industry.
C)  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.
D)  a framework to relate the market segments of potential buyers to the products offered or potential marketing actions by an organization.
E)  the place a product occupies in a single consumer's mind on unimportant attributes relative to competitive products.F) A) and E)
G) D) and E)

Question 6

Procter & Gamble (P&G) decided to skip a generation of consumers when it began to market Old Spice deodorant.The target market consists of men aged 18 to 34 years old (Generation Y) who don't remember the Old Spice brand sold to their grandfathers (pre baby boomer) many years ago.P&G is using which type of segmentation variable?

Accepted Answer

A)  behavioral
B)  demographic
C)  lifestyle
D)  geographic
E)  psychographicF) All of the above
G) C) and D)

Question 7

The ultimate criterion for an organization's marketing success is that __________ as a result of increased synergies.

Accepted Answer

A)  costs decrease
B)  market share increases
C)  product deficiencies decrease
D)  customers should be better off
E)  new products flourishF) None of the above
G) B) and C)

Question 8

The 80/20 rule suggests that

Accepted Answer

A)  80 percent of a firm's inventory should be readily available and 20 percent should be reserved for emergency demand.
B)  80 percent of a firm's first-time users will become brand loyal and 20 percent will use the product only once and then abandon it.
C)  80 percent of a firm's sales are obtained from 20 percent of its customers.
D)  80 percent of a firm's marketing program expenses are tax deductible and 20 percent are not.
E)  80 percent of a firm's products will be sold to ultimate consumers and 20 percent to organizational buyers.F) D) and E)
G) All of the above

Question 9

A market-product grid is a framework to relate the market segments of potential buyers to

Accepted Answer

A)  estimated expenses for products sold.
B)  products offered or potential marketing actions by an organization.
C)  total anticipated revenue.
D)  total anticipated profit.
E)  market share of the closest competitor.F) B) and E)
G) A) and B)

Question 10

Region and city size are both variables used to employ __________ segmentation.

Accepted Answer

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

Question 11

Kellogg's has several cereals targeted at different types of users.This is an example of multiple products aimed at multiple markets.Manufacturing these different cereals is clearly more expensive than producing one,but seems worthwhile if it serves customers' needs better,doesn't reduce quality or increase price,and

Accepted Answer

A)  conforms to all FDA guidelines.
B)  adds to the manufacturer's sales revenues and profits.
C)  creates economy of scale.
D)  decreases the cost of the physical plant.
E)  stabilizes the sales revenues and profits.F) All of the above
G) B) and C)

Question 12

Kellogg's has several cereals targeted at different types of users.This is an example of multiple products aimed at multiple markets.Manufacturing these different cereals is clearly more expensive than producing only one but seems worthwhile if it adds to the manufacturer's sales revenues and profits,doesn't reduce quality or increase price,and

Accepted Answer

A)  conforms to all FDA guidelines.
B)  uses the same promotion and packaging for all segments.
C)  decreases the cost of the physical plant.
D)  stabilizes competition.
E)  better serves customers' needs.F) A) and B)
G) A) and E)

Question 13

In the sneaker market,Reebok and Nike practice __________ positioning since both manufacturers vie for the athletic shoe market with technologically advanced products.

Accepted Answer

A)  psychological
B)  perceptual
C)  differentiation
D)  head-to-head
E)  marketF) A) and B)
G) A) and C)

Question 14

If Wendy's customers are buying an eating experience,which of the following rationales would make the most sense if you were to group the products Wendy's sells?

Accepted Answer

A)  grouping by caloric intake
B)  grouping by price
C)  grouping by meal occasion
D)  grouping by usage rate
E)  grouping by level of uniquenessF) A) and C)
G) A) and B)

Question 15

A key to effectively positioning a product or brand is discovering its perception in the minds of potential customers.To do this,companies take four steps: (1) __________; (2) discover how target customers rate competing products or brands with respect to these attributes; (3) discover where the company's product or brand is on these attributes in the minds of potential customers; and (4) reposition the company's product or brand in the minds of potential customers.

Accepted Answer

A)  decide whether to keep or delete the market segment that your product offering targets
B)  identify the competitors' brands that make up the consideration set
C)  identify the important attributes for the product or brand class
D)  create a marketing plan based on customers' perceptions
E)  identify market niches that were not previously selected during the market segmentation processF) C) and D)
G) B) and E)

Question 16

One marketing action that can be taken to sell a single product or service to multiple market segments is to

Accepted Answer

A)  develop and produce another version of the product.
B)  manufacture products that appeal to different markets.
C)  develop separate promotional campaigns.
D)  purchase another firm that has additional products that would appeal to multiple markets.
E)  issue stock to fund additional research and development for new products.F) A) and B)
G) A) and C)

Question 17

All of the following are criterion used for selecting target market segments EXCEPT:

Accepted Answer

A)  compatibility with the organization's objectives and resources.
B)  market size.
C)  simplicity and cost of assigning potential buyers to segments.
D)  competitive position.
E)  cost of reaching the segment.F) B) and D)
G) D) and E)

Question 18

The 80/20 rule is most closely related to which method of segmentation?

Accepted Answer

A)  geographic
B)  psychographic
C)  opportunistic
D)  demographic
E)  behavioralF) B) and C)
G) A) and C)

Question 19

A marketing manager must be able to put a market segmentation plan into effect.This means being able to form market segments and then __________ without encountering excessive costs.

Accepted Answer

A)  eliminate potential non-buyers
B)  identify segmentation variables
C)  select the market segment(s) to target
D)  redirect their purchase behaviors
E)  ignore any and all similaritiesF) All of the above
G) C) and D)

Question 20

Marketing synergies often come at the expense of product synergies because

Accepted Answer

A)  product synergies are more effective for penetrating a market rather than creating one.
B)  multiple market segments usually require multiple products.
C)  it is easier to change a product than to completely develop a new marketing plan.
D)  a single customer segment will likely require a variety of products.
E)  no company can afford to do both at the same time.F) B) and D)
G) A) and B)

Exam 8: Market Segmentation, Targeting, and Positioning

MyTwinn makes dolls that look like young girls.For $119,the firm will make a doll that looks just like a photograph.So,if you send in the money and a photo of your young niece,she could have a doll that is her twin! This is an example of

Correct Answer
verified

The 80/20 rule is most closely related to which method of segmentation?

Correct Answer
verified

The ultimate criterion for an organization's marketing success is that __________ as a result of increased synergies.

Correct Answer
verified

In the sneaker market,Reebok and Nike practice __________ positioning since both manufacturers vie for the athletic shoe market with technologically advanced products.

Correct Answer
verified

Correct Answer
verified

A market-product grid is a framework to relate the market segments of potential buyers to

Correct Answer
verified

All of the following are criterion used for selecting target market segments EXCEPT:

Correct Answer
verified

The 80/20 rule suggests that

Correct Answer
verified

Correct Answer
verified

What are two approaches to product positioning? Give an example of each approach.

Correct Answer
verified
There are two major approaches to positi...
View Answer

Correct Answer
verified

A perceptual map refers to

Correct Answer
verified

Region and city size are both variables used to employ __________ segmentation.

Correct Answer
verified

One marketing action that can be taken to sell a single product or service to multiple market segments is to

Correct Answer
verified

Marketing synergies often come at the expense of product synergies because

Correct Answer
verified

An analysis of the pillow market using a market-product grid suggests that the most important segment to target is

Correct Answer
verified

A marketing manager must be able to put a market segmentation plan into effect.This means being able to form market segments and then __________ without encountering excessive costs.

Correct Answer
verified

If Wendy's customers are buying an eating experience,which of the following rationales would make the most sense if you were to group the products Wendy's sells?

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Exam 8: Market Segmentation, Targeting, and Positioning

MyTwinn makes dolls that look like young girls.For $119,the firm will make a doll that looks just like a photograph.So,if you send in the money and a photo of your young niece,she could have a doll that is her twin! This is an example of

Correct AnswerverifiedShow Answer

The 80/20 rule is most closely related to which method of segmentation?

Correct AnswerverifiedShow Answer

The ultimate criterion for an organization's marketing success is that __________ as a result of increased synergies.

Correct AnswerverifiedShow Answer

In the sneaker market,Reebok and Nike practice __________ positioning since both manufacturers vie for the athletic shoe market with technologically advanced products.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A market-product grid is a framework to relate the market segments of potential buyers to

Correct AnswerverifiedShow Answer

All of the following are criterion used for selecting target market segments EXCEPT:

Correct AnswerverifiedShow Answer

The 80/20 rule suggests that

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What are two approaches to product positioning? Give an example of each approach.

Correct AnswerverifiedThere are two major approaches to positi...View AnswerShow Answer

Correct AnswerverifiedShow Answer

A perceptual map refers to

Correct AnswerverifiedShow Answer

Region and city size are both variables used to employ __________ segmentation.

Correct AnswerverifiedShow Answer

One marketing action that can be taken to sell a single product or service to multiple market segments is to

Correct AnswerverifiedShow Answer

Marketing synergies often come at the expense of product synergies because

Correct AnswerverifiedShow Answer

An analysis of the pillow market using a market-product grid suggests that the most important segment to target is

Correct AnswerverifiedShow Answer

A marketing manager must be able to put a market segmentation plan into effect.This means being able to form market segments and then __________ without encountering excessive costs.

Correct AnswerverifiedShow Answer

If Wendy's customers are buying an eating experience,which of the following rationales would make the most sense if you were to group the products Wendy's sells?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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There are two major approaches to positi...
View Answer

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