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)  product segmentationF) B) and E)
G) A) and D)

Question 2

Product features and usage rate are both variables used to employ __________ segmentation.

Accepted Answer

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

Question 3

Why would an organization produce multiple products or services and then attempt to sell them to two or more market segments?

Accepted Answer

Organizations may target different produ...

Question 4

Explain the "80/20 rule."

Accepted Answer

Usage rate is sometimes referred to in t...

Question 5

Which of the following is an example of a multiple products and multiple market segments strategy?

Accepted Answer

A)  College Football magazine selects different covers for essentially the same magazine in order to appeal to different geographic markets in the U.S.
B)  A new movie used several different movie trailers.One set of previews showed the action scenes in order to attract one audience and the other set showed romantic scenes to attract another audience.
C)  Betty Crocker carries one line of cake mixes for people with conventional ovens and another line of cake mixes for people with microwave ovens.
D)  Arm and Hammer Baking Soda can be used for baking and to remove odors from refrigerators and litter boxes.
E)  Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.F) None of the above
G) B) and E)

Question 6

Time magazine publishes over 100 different U.S.editions with common editorial content (the same national and international stories) .However,each edition is targeted at unique geographic segments with its own set of advertisements.Time is using which of the following segmentation strategies?

Accepted Answer

A)  one product with multiple market segments
B)  multiple products with multiple market segments
C)  one product with multiple channels of distribution
D)  one product with changes based on customer behavior
E)  multiple products with one segmentF) C) and E)
G) B) and E)

Question 7

The aggregation of prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marketing action is referred to as __________.

Accepted Answer

A)  market diversification
B)  market differentiation
C)  market segmentation
D)  market augmentation
E)  market repositioningF) None of the above
G) B) and E)

Question 8

Explain the difference between mass customization and build-to-order.

Accepted Answer

Mass customization involves tailoring go...

Question 9

According to Tony Hsieh,CEO of Zappos,the company devotes the greatest amount of time to

Accepted Answer

A)  seeking out new and unusual styles of shoes from all over the world.
B)  improving the website to make it faster,more interesting,and fun.
C)  seeking out new markets that will go beyond the Internet.
D)  finding the fastest and least expensive modes of delivery for its products.
E)  finding ways to improve customer-service levels.F) B) and E)
G) A) and D)

Question 10

Market segmentation stresses __________ and relating them to specific marketing actions.

Accepted Answer

A)  grouping people randomly within a market
B)  grouping people according to similar needs
C)  splitting people randomly within a market
D)  dividing people into the smallest groups possible
E)  identifying potential new buyers who are not yet familiar with a new productF) D) and E)
G) A) and D)

Question 11

Explain the difference between marketing synergies and product synergies.

Accepted Answer

Synergy analysis seeks opportunities by ...

Question 12

There are five steps involved in segmenting and targeting markets.What should a marketer do after he or she has grouped products to be sold into categories?

Accepted Answer

A)  create product groupings
B)  develop a market-product grid and estimate size of markets
C)  identify market needs
D)  take marketing actions to reach target markets
E)  form prospective buyers into market segmentsF) C) and D)
G) A) and D)

Question 13

Todd Harris and Associates,a New York sales promotion agency,discovered from an analysis of its files that one-quarter (or 25 percent) of its clients generated more than three-quarters (or 75 percent) of its fees and commissions.This is an example of what classic concept?

Accepted Answer

A)  the two quarter gap
B)  the 80/20 rule
C)  the law of usage
D)  the 75/25 rule
E)  Parkinson's LawF) B) and C)
G) A) and B)

Question 14

A basic test of the usefulness of the market segmentation process is whether it leads to tangible marketing actions that can

Accepted Answer

A)  increase sales and profitability.
B)  stand up to legal scrutiny.
C)  be socially responsible.
D)  create sustainable demand.
E)  create product differentiation.F) A) and B)
G) A) and C)

Question 15

What are the criteria used to select target markets?

Accepted Answer

There are two different kinds of criteri...

Question 16

Segmentation based on some observable actions or attitudes by prospective customers,such as what benefits they seek,as well as where,how frequently,and why they buy,is referred to as

Accepted Answer

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

Question 17

Market segmentation refers to

Accepted Answer

A)  the philosophy that to do a truly excellent job of marketing,a company should concentrate only one customer segment at a time.
B)  sorting prospective buyers into groups that are willing (or not) to pay more than the cost of production for a good or service.
C)  disaggregating prospective buyers from groups into segments of one (individuals) and creating specific products that will satisfy each individual's unique needs.
D)  aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action.
E)  the belief that it is possible to satisfy every customer's needs if you can identify the correct segment within which they belong.F) C) and E)
G) A) and E)

Question 18

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 buyers between segments
C)  expected growth of a segment
D)  feasibility of a marketing action to reach a segment
E)  simplicity and cost of assigning potential buyers to segmentsF) A) and D)
G) A) and C)

Question 19

The relatively homogenous group of prospective buyers that results from the market segmentation process is referred to as a(n) __________.

Accepted Answer

A)  market segment
B)  target market
C)  customer base
D)  ultimate consumer
E)  preferred customerF) A) and B)
G) A) and C)

Question 20

The first step in segmenting and targeting markets that links customer needs to marketing actions is to

Accepted Answer

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

Exam 8: Market Segmentation, Targeting, and Positioning

Product features and usage rate are both variables used to employ __________ segmentation.

Correct AnswerverifiedShow Answer

The aggregation of prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marketing action is referred to as __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Segmentation based on some observable actions or attitudes by prospective customers,such as what benefits they seek,as well as where,how frequently,and why they buy,is referred to as

Correct AnswerverifiedShow Answer

Time magazine publishes over 100 different U.S.editions with common editorial content (the same national and international stories) .However,each edition is targeted at unique geographic segments with its own set of advertisements.Time is using which of the following segmentation strategies?

Correct AnswerverifiedShow Answer

There are five steps involved in segmenting and targeting markets.What should a marketer do after he or she has grouped products to be sold into categories?

Correct AnswerverifiedShow Answer

The first step in segmenting and targeting markets that links customer needs to marketing actions is to

Correct AnswerverifiedShow Answer

The relatively homogenous group of prospective buyers that results from the market segmentation process is referred to as a(n) __________.

Correct AnswerverifiedShow Answer

A basic test of the usefulness of the market segmentation process is whether it leads to tangible marketing actions that can

Correct AnswerverifiedShow Answer

What are the criteria used to select target markets?

Correct AnswerverifiedThere are two different kinds of criteri...View AnswerShow Answer

Explain the difference between marketing synergies and product synergies.

Correct AnswerverifiedSynergy analysis seeks opportunities by ...View AnswerShow Answer

Explain the "80/20 rule."

Correct AnswerverifiedUsage rate is sometimes referred to in t...View AnswerShow Answer

Why would an organization produce multiple products or services and then attempt to sell them to two or more market segments?

Correct AnswerverifiedOrganizations may target different produ...View AnswerShow Answer

Market segmentation refers to

Correct AnswerverifiedShow Answer

Which of the following is an example of a multiple products and multiple market segments strategy?

Correct AnswerverifiedShow Answer

Market segmentation stresses __________ and relating them to specific marketing actions.

Correct AnswerverifiedShow Answer

According to Tony Hsieh,CEO of Zappos,the company devotes the greatest amount of time to

Correct AnswerverifiedShow Answer

Explain the difference between mass customization and build-to-order.

Correct AnswerverifiedMass customization involves tailoring go...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Todd Harris and Associates,a New York sales promotion agency,discovered from an analysis of its files that one-quarter (or 25 percent) of its clients generated more than three-quarters (or 75 percent) of its fees and commissions.This is an example of what classic concept?

Correct AnswerverifiedShow Answer

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There are two different kinds of criteri...
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Synergy analysis seeks opportunities by ...
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Usage rate is sometimes referred to in t...
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Organizations may target different produ...
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Mass customization involves tailoring go...
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