Question 1

Figure 8-8
-Figure 8-8 shows is a depiction of a ________ for beverages in the minds of adults.

Accepted Answer

A)   hierarchy of needs
B)   perceptual map
C)   marketing matrix
D)   growth-share matrix
E)   perception matrixF) A) and D)
G) B) and D)

Question 2

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 current buyers to relative market share compared to the largest competitor.
E)   the market segments of potential buyers to meaningful product groupings.F) None of the above
G) B) and D)

Question 3

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 4

What are the segmentation bases for U.S. organizational (business) markets?

Accepted Answer

Organizational (business) mark...

Question 5

The axes on a perceptual map are

Accepted Answer

A)   sales and profitability.
B)   two important product attributes, ranging from high to low on that attribute.
C)   market share and market growth rate.
D)   product variety and profitability.
E)   customer perceptions of the firm's product versus the brand of the firm's principal competitor.F) B) and C)
G) B) and D)

Question 6

The segmentation strategy used by Prince Sports today is

Accepted Answer

A)   geographic.
B)   behavioral.
C)   psychographic.
D)   socioeconomic.
E)   resource-based.F) A) and E)
G) A) and B)

Question 7

One approach to positioning a new product in a market is ________ positioning, which involves competing directly with competitors on similar product attributes in the same target market.

Accepted Answer

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

Question 8

A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products is referred to as

Accepted Answer

A)   market penetration.
B)   points of difference.
C)   market differentiation.
D)   product positioning.
E)   product differentiation.F) B) and D)
G) B) and C)

Question 9

A market-product grid is

Accepted Answer

A)   a visual representation of all products offered within a specific product class.
B)   a framework used to compare the relative market share of one firm's product offerings to those of its competitors.
C)   a technique that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.
D)   a framework used to relate the market segments of potential buyers to products offered or potential marketing actions by an organization.
E)   a technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products.F) B) and D)
G) A) and B)

Question 10

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

Accepted Answer

A)   College Football magazine selects different covers for essentially the same written content in order to appeal to different geographic markets in the United States.
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)   Ford manufactures SUVs for those who wish to carry lots of people and pickup trucks for those who wish to carry lots of cargo.
D)   Arm and Hammer Baking Soda can be used for baking and to remove odors from refrigerators and cat litter boxes.
E)   Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.F) D) and E)
G) A) and D)

Question 11

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)   cost of reaching the segment
E)   simplicity and cost of assigning potential buyers to segmentsF) A) and E)
G) None of the above

Question 12

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

Accepted Answer

Product positioning refers to the place ...

Question 13

Retail store type and usage rate are both variables used to employ ________ segmentation.

Accepted Answer

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

Question 14

The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as

Accepted Answer

A)   product repositioning.
B)   relative positioning.
C)   competitive positioning.
D)   product positioning.
E)   selective perception.F) All of the above
G) C) and E)

Question 15

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 16

The Walt Disney Company carefully markets two distinct Winnie-the-Poohs; one is the original line-drawn figure (e.g., on fine china sold at Nordstrom)  and the other is a cartoon-like Pooh (e.g., on polyester bed sheets sold at Target) . This is an example of

Accepted Answer

A)   mass customization.
B)   a Tiffany/Walmart strategy.
C)   one product and multiple market segments.
D)   price discrimination.
E)   psychographic market segmentation.F) None of the above
G) B) and D)

Question 17

Which of the following is not a reason to segment a market?

Accepted Answer

A)   The ability to assign buyers to a segment is simple and cost-effective.
B)   It would cause an increase in market share or profit.
C)   All the buyers in the entire market have similar wants and needs.
D)   There is a potential marketing action to reach it.
E)   There are different wants and needs of buyers in the entire market.F) B) and E)
G) C) and D)

Exam 8: Market Segmentation, Targeting, and Positioning

Figure 8-8 -Figure 8-8 shows is a depiction of a ________ for beverages in the minds of adults.

Correct Answer
verified

A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products is referred to as

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

A market-product grid is a framework to relate

Correct Answer
verified

The Walt Disney Company carefully markets two distinct Winnie-the-Poohs; one is the original line-drawn figure (e.g., on fine china sold at Nordstrom) and the other is a cartoon-like Pooh (e.g., on polyester bed sheets sold at Target) . This is an example of

Correct Answer
verified

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

Correct Answer
verified

One approach to positioning a new product in a market is ________ positioning, which involves competing directly with competitors on similar product attributes in the same target market.

Correct Answer
verified

The segmentation strategy used by Prince Sports today is

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 are the segmentation bases for U.S. organizational (business) markets?

Correct Answer
verified
Organizational (business) mark...
View Answer

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

Correct Answer
verified
Product positioning refers to the place ...
View Answer

Retail store type and usage rate are both variables used to employ ________ segmentation.

Correct Answer
verified

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

Correct Answer
verified

A market-product grid is

Correct Answer
verified

Which of the following is not a reason to segment a market?

Correct Answer
verified

The axes on a perceptual map are

Correct Answer
verified

The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as

Correct Answer
verified

Exam 8: Market Segmentation, Targeting, and Positioning

Figure 8-8 -Figure 8-8 shows is a depiction of a ________ for beverages in the minds of adults.

Correct AnswerverifiedShow Answer

A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products is referred to as

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

A market-product grid is a framework to relate

Correct AnswerverifiedShow Answer

The Walt Disney Company carefully markets two distinct Winnie-the-Poohs; one is the original line-drawn figure (e.g., on fine china sold at Nordstrom) and the other is a cartoon-like Pooh (e.g., on polyester bed sheets sold at Target) . This is an example of

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

One approach to positioning a new product in a market is ________ positioning, which involves competing directly with competitors on similar product attributes in the same target market.

Correct AnswerverifiedShow Answer

The segmentation strategy used by Prince Sports today is

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 are the segmentation bases for U.S. organizational (business) markets?

Correct AnswerverifiedOrganizational (business) mark...View AnswerShow Answer

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

Correct AnswerverifiedProduct positioning refers to the place ...View AnswerShow Answer

Retail store type and usage rate are both variables used to employ ________ segmentation.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A market-product grid is

Correct AnswerverifiedShow Answer

Which of the following is not a reason to segment a market?

Correct AnswerverifiedShow Answer

The axes on a perceptual map are

Correct AnswerverifiedShow Answer

The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as

Correct AnswerverifiedShow Answer

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified
Organizational (business) mark...
View Answer

Correct Answer
verified
Product positioning refers to the place ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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