Question 1

When Ann Taylor, a well-known retailer of sophisticated women's clothing, started losing sales to its own LOFT stores that feature moderately priced casual clothes, Ann Taylor was dealing with the marketing phenomenon known as

Accepted Answer

A)   amortization.
B)   guerrilla marketing.
C)   shrinkage.
D)   marketing Darwinism.
E)   cannibalization.F) None of the above
G) A) and B)

Question 2

A means of displaying in two dimensions the location of its own and competing products or brands in the minds of consumers is

Accepted Answer

A)   an awareness matrix.
B)   a growth-share matrix.
C)   a market-product grid.
D)   a perceptual map.
E)   a product differentiation chart.F) All of the above
G) A) and E) D

Question 3

Best Foods Co. is considering expanding beyond the regional market segments now served by its Hellmann's mayonnaise. One criterion management wants to use to evaluate potential new geographic market segments is whether additional real estate must be purchased or leased to serve new segments. This is an example of which criterion used to select target market segments?

Accepted Answer

A)   Best Foods' competitive position in the segment
B)   Best Foods' product groupings
C)   expected growth of the market segment
D)   size of the market segment
E)   cost of reaching the segmentF) B) and D)
G) C) and D)

Question 4

A perceptual map enables a manager to see how ________ perceive competing products or brands, as well as the firm's own product or brand.

Accepted Answer

A)   stakeholders
B)   competitors
C)   independent rating organizations such as Consumer Reports
D)   consumers
E)   nonusersF) B) and D)
G) C) and D)

Question 5

Which of the following is not a criterion that would support 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 exceeds the expected returns.F) B) and C)
G) A) and B)

Question 6

When a firm produces only a single product or service and attempts to sell it to two or more market segments, it avoids

Accepted Answer

A)   the extra cost of developing and producing additional versions of the product.
B)   creating a customer service gap.
C)   indirect distribution and logistics problems.
D)   restructuring the firm's strategic planning.
E)   amortization costs of product enhancements.F) A) and B)
G) A) and C)

Question 7

________ occurs when a new product or a new retail chain steals customers and sales from the organization's older products and retail outlets.

Accepted Answer

A)   Cannibalization
B)   Amortization
C)   Product appropriation
D)   Product pilfering
E)   Marketing DarwinismF) A) and E)
G) B) and E) A

Question 8

All of these are included in an ideal positioning statement except which?

Accepted Answer

A)   the product category in which the offering competes
B)   the needs satisfied by the product
C)   the offering's unique benefits or attributes
D)   the anticipated or actual retail price of the product
E)   an identification of the target marketF) A) and C)
G) All of the above

Question 9

More than half of all U.S. households are composed of only one or two persons, so Aunt Jemima offers one serving meals, such as its Ham & Egg Scramble and Oatmeal Pancakes. Aunt Jemima is using ________ as the basis to segment its market.

Accepted Answer

A)   usage rates
B)   usage patterns
C)   demographic characteristics
D)   behavior characteristics
E)   psychographic characteristicsF) A) and B)
G) A) and C)

Question 10

Head-to-head positioning requires a product to

Accepted Answer

A)   compete with products from competitors of the same size and country of origin.
B)   compete with competitors on similar product attributes but in a different market.
C)   compete with competitors on similar product attributes in the same market.
D)   compete against very similar products from its own company.
E)   compete against a single competitor with an identical offering.F) C) and E)
G) All of the above

Question 11

Differentiation positioning requires a product to

Accepted Answer

A)   emphasize unique product attributes to compete directly with competitors.
B)   compete directly with competitors on similar product attributes in the same target market.
C)   compete with competitors on similar product attributes but in a different market.
D)   seek a less-competitive, smaller market niche in which to locate a brand.
E)   develop marketing actions to move a product or brand to an ideal position.F) A) and D)
G) A) and C)

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)   Identify market needs.
C)   Take marketing actions to reach target markets.
D)   Develop a market-product grid and estimate size of markets.
E)   Form prospective buyers into market segments.F) C) and D)
G) D) and E)

Question 13

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

Accepted Answer

A)   seeking 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 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) A) and C)
G) C) and E)

Question 14

Nike employs a ________ strategy with its Nike by You service which configures shoes to a customer's specific preferences for colors, solos, logos, and added initials and numbers.

Accepted Answer

A)   product sampling
B)   product clustering
C)   build-to-order
D)   usage segmentation
E)   psychographic segmentationF) C) and D)
G) A) and E)

Question 15

Figure 9-2
-Consider Figure 9-2 above. My Pillow uses infomercials and product demonstrations at events such as state fairs to market its line of pillows that are guaranteed to be "the most comfortable pillow you'll ever own!" Based on the market research above, which market-product combination should My Pillow target?

Accepted Answer

A)   stomach sleeper-firm pillow
B)   back sleeper-medium pillow
C)   side sleeper-firm pillow
D)   stomach sleeper-soft pillow
E)   side sleeper-soft pillowF) A) and E)
G) A) and C)

Question 16

Each cell of a complete market-product grid shows the

Accepted Answer

A)   relative market share.
B)   estimated market size.
C)   investment required to reach the market.
D)   market growth rate.
E)   estimated profit.F) A) and C)
G) C) and D)

Question 17

There are five key steps in segmenting and targeting markets, which link market needs of customers to the organization's marketing program. List these five key steps.

Accepted Answer

The five key steps in segmenting and tar...

Question 18

Zappos's original target market customers consisted of people who wanted all of these except which?

Accepted Answer

A)   to receive quick delivery of their merchandise
B)   to buy sustainable shoes, accessories, and clothing
C)   to shop online in the convenience of their own homes
D)   to return goods for free if dissatisfied
E)   to choose from a wide selection of shoesF) C) and D)
G) A) and C)

Question 19

The State of Alabama Board of Tourism ran a series of ads showing traditional families enjoying various attractions in the state. Since the apparent target of these ads is the traditional family, it appears that the State of Alabama Board of Tourism has segmented the market using ________ variables.

Accepted Answer

A)   demographic
B)   regional
C)   socioeconomic
D)   geographic
E)   psychographicF) A) and B)
G) D) and E)

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

Exam 9: Market Segmentation, Targeting, and Positioning

When Ann Taylor, a well-known retailer of sophisticated women's clothing, started losing sales to its own LOFT stores that feature moderately priced casual clothes, Ann Taylor was dealing with the marketing phenomenon known as

Correct Answer
verified

A means of displaying in two dimensions the location of its own and competing products or brands in the minds of consumers is

Correct Answer
verified
D

Correct Answer
verified

A perceptual map enables a manager to see how ________ perceive competing products or brands, as well as the firm's own product or brand.

Correct Answer
verified

Which of the following is not a criterion that would support forming market segments?

Correct Answer
verified

When a firm produces only a single product or service and attempts to sell it to two or more market segments, it avoids

Correct Answer
verified

________ occurs when a new product or a new retail chain steals customers and sales from the organization's older products and retail outlets.

Correct Answer
verified
A

All of these are included in an ideal positioning statement except which?

Correct Answer
verified

More than half of all U.S. households are composed of only one or two persons, so Aunt Jemima offers one serving meals, such as its Ham & Egg Scramble and Oatmeal Pancakes. Aunt Jemima is using ________ as the basis to segment its market.

Correct Answer
verified

Head-to-head positioning requires a product to

Correct Answer
verified

Differentiation positioning requires a product to

Correct Answer
verified

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 Answer
verified

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

Correct Answer
verified

Nike employs a ________ strategy with its Nike by You service which configures shoes to a customer's specific preferences for colors, solos, logos, and added initials and numbers.

Correct Answer
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Correct Answer
verified

Each cell of a complete market-product grid shows the

Correct Answer
verified

There are five key steps in segmenting and targeting markets, which link market needs of customers to the organization's marketing program. List these five key steps.

Correct Answer
verified
The five key steps in segmenting and tar...
View Answer

Zappos's original target market customers consisted of people who wanted all of these except which?

Correct Answer
verified

The State of Alabama Board of Tourism ran a series of ads showing traditional families enjoying various attractions in the state. Since the apparent target of these ads is the traditional family, it appears that the State of Alabama Board of Tourism has segmented the market using ________ variables.

Correct Answer
verified

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

Correct Answer
verified
A

Exam 9: Market Segmentation, Targeting, and Positioning

When Ann Taylor, a well-known retailer of sophisticated women's clothing, started losing sales to its own LOFT stores that feature moderately priced casual clothes, Ann Taylor was dealing with the marketing phenomenon known as

Correct AnswerverifiedShow Answer

A means of displaying in two dimensions the location of its own and competing products or brands in the minds of consumers is

Correct AnswerverifiedD

Correct AnswerverifiedShow Answer

A perceptual map enables a manager to see how ________ perceive competing products or brands, as well as the firm's own product or brand.

Correct AnswerverifiedShow Answer

Which of the following is not a criterion that would support forming market segments?

Correct AnswerverifiedShow Answer

When a firm produces only a single product or service and attempts to sell it to two or more market segments, it avoids

Correct AnswerverifiedShow Answer

________ occurs when a new product or a new retail chain steals customers and sales from the organization's older products and retail outlets.

Correct AnswerverifiedA

All of these are included in an ideal positioning statement except which?

Correct AnswerverifiedShow Answer

More than half of all U.S. households are composed of only one or two persons, so Aunt Jemima offers one serving meals, such as its Ham & Egg Scramble and Oatmeal Pancakes. Aunt Jemima is using ________ as the basis to segment its market.

Correct AnswerverifiedShow Answer

Head-to-head positioning requires a product to

Correct AnswerverifiedShow Answer

Differentiation positioning requires a product to

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

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

Correct AnswerverifiedShow Answer

Nike employs a ________ strategy with its Nike by You service which configures shoes to a customer's specific preferences for colors, solos, logos, and added initials and numbers.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Each cell of a complete market-product grid shows the

Correct AnswerverifiedShow Answer

There are five key steps in segmenting and targeting markets, which link market needs of customers to the organization's marketing program. List these five key steps.

Correct AnswerverifiedThe five key steps in segmenting and tar...View AnswerShow Answer

Zappos's original target market customers consisted of people who wanted all of these except which?

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

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The five key steps in segmenting and tar...
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