Question 1

Marketers use perceptual maps as a means to display 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) None of the above
G) B) and E)

Question 2

Recently, U.S. dairies, struggling to increase milk sales, tried to change the way adults thought about chocolate milk. The dairies wanted to ________ chocolate milk in the minds of adult consumers.

Accepted Answer

A)   segment
B)   differentiate
C)   explain
D)   promote
E)   repositionF) B) and E)
G) C) and D)

Question 3

A nonprofit food bank was handing out food to anyone who requested it on a weekly basis. It now wants to give free food only to people who go hungry on a daily basis. This will be the market segment it targets. How does the formation of its market segments differ from the strategy used for a retail store?

Accepted Answer

There is one key difference between for-...

Question 4

Figure 8-2
-The table in Figure 8-2 is known as a

Accepted Answer

A)   needs table.
B)   cross-tabulation.
C)   market-product grid.
D)   growth-share matrix.
E)   product differentiation table.F) A) and E)
G) A) and D)

Question 5

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

Accepted Answer

A)   geographic
B)   behavioral
C)   district
D)   psychographic
E)   demographicF) None of the above
G) A) and B)

Question 6

Which of the following is a consumer market demographic segmentation variable?

Accepted Answer

A)   personality
B)   age
C)   usage rate
D)   needs
E)   regionF) B) and E)
G) A) and E)

Question 7

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

Accepted Answer

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

Question 8

A marketing manager goes through several steps to put a market segmentation plan into effect. This includes forming market segments and then ________ without encountering excessive costs.

Accepted Answer

A)   eliminating potential nonbuyers
B)   identifying segmentation variables
C)   selecting the market segments to target
D)   redirecting their purchase behaviors
E)   ignoring any and all similaritiesF) A) and E)
G) A) and C)

Question 9

According to an Apple market-product grid for its personal computer line, Apple would most likely get the least product synergies from the

Accepted Answer

A)   The most expensive products, Mac Pro and MacBook Pro.
B)   The most versatile products, Mac Pro and iMac.
C)   The products with the most complimentary market segments, iMac and MacBook Air.
D)   The products with the fewest complimentary market segments, Mac Pro and Mac Mini.
E)   The least frequently updated products, MacBook Air and Mac Mini.F) C) and E)
G) A) and B)

Question 10

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

Accepted Answer

Product differentiation involves a firm ...

Question 11

A marketing manager should develop segments for a market that meet five principal criteria. List these important factors in forming market segments.

Accepted Answer

The five criteria are: (1) simplicity an...

Question 12

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the following question:

Accepted Answer

A)   Is this product useful on a global scale?
B)   Is it possible to reposition this product?
C)   Is there too much competition for this product?
D)   Is the market loyal to the product?
E)   Would segmentation be worth doing and is it possible?F) A) and D)
G) A) and C)

Question 13

Airlines have developed frequent-flyer programs to encourage passengers to use the same airline repeatedly. This marketing strategy is based on

Accepted Answer

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

Question 14

By dividing its tennis racquet market into three categories, which it labels Performance, Recreational, and Junior tennis players, Prince Sports is using a marketing strategy called

Accepted Answer

A)   product differentiation.
B)   product innovation.
C)   market delineation.
D)   market segmentation.
E)   product groupings.F) A) and E)
G) B) and D)

Question 15

After establishing the market segments and product groupings on a market-product grid, the next step is to

Accepted Answer

A)   fill in the appropriate cells with precise statistical data from primary and/or secondary sources.
B)   estimate, with intelligent guesstimates as necessary, the market size for each cell.
C)   total the vertical columns to identify the greatest marketing synergies and efficiencies.
D)   total the horizontal rows to identify greatest operations/production synergies and efficiencies.
E)   identify a marketing action for every product-market combination in the grid.F) A) and D)
G) C) and D)

Question 16

Usage rate is

Accepted Answer

A)   the percentage of total possible users divided by the total number of consumers who actually use a product or service.
B)   the number of times a customer uses or recommends a product or service annually.
C)   quantity consumed or patronage (store visits)  during a specific period.
D)   the maximum number of times a customer has used a product or service historically.
E)   the profits a firm earns from customers who consume a particular product or service.F) B) and C)
G) A) and E)

Question 17

Zappos offers value to its customers by

Accepted Answer

A)   offering the best selection of shoes and the best service to online shoppers.
B)   designing shoes for every type of occasion.
C)   dividing all their customers into two distinct segments: people shopping for low price and people shopping for style.
D)   offering the best access to fashionable shoes through multiple channels of distribution.
E)   maintaining the simplest method of pricing to make the purchase process easy.F) B) and C)
G) A) and B)

Question 18

Today, marketers are increasingly emphasizing a Tiffany/Walmart strategy, which is to offer

Accepted Answer

A)   a low-priced product to a high-income or high net worth segment.
B)   a high-priced product to a low-income or low net worth segment.
C)   different variations of the same basic offering to high-end and low-end segments.
D)   a high-priced and a low-priced offering to a single market segment.
E)   entirely different offerings to high-end and low-end segments.F) A) and D)
G) None of the above

Question 19

Figure 8-2
-Consider Figure 8-2. 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 shown in Figure 8-2, 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 B)
G) A) and D)

Question 20

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) C) and D)
G) None of the above

Exam 8: Market Segmentation, Targeting, and Positioning

Correct Answer
verified
There is one key difference between for-...
View Answer

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Today, marketers are increasingly emphasizing a Tiffany/Walmart strategy, which is to offer

Correct Answer
verified

Usage rate is

Correct Answer
verified

A marketing manager should develop segments for a market that meet five principal criteria. List these important factors in forming market segments.

Correct Answer
verified
The five criteria are: (1) simplicity an...
View Answer

According to an Apple market-product grid for its personal computer line, Apple would most likely get the least product synergies from the

Correct Answer
verified

Correct Answer
verified

Zappos offers value to its customers by

Correct Answer
verified

Recently, U.S. dairies, struggling to increase milk sales, tried to change the way adults thought about chocolate milk. The dairies wanted to ________ chocolate milk in the minds of adult consumers.

Correct Answer
verified

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

Correct Answer
verified

Figure 8-2 -The table in Figure 8-2 is known as a

Correct Answer
verified

After establishing the market segments and product groupings on a market-product grid, the next step is to

Correct Answer
verified

Airlines have developed frequent-flyer programs to encourage passengers to use the same airline repeatedly. This marketing strategy is based on

Correct Answer
verified

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the following question:

Correct Answer
verified

A marketing manager goes through several steps to put a market segmentation plan into effect. This includes forming market segments and then ________ without encountering excessive costs.

Correct Answer
verified

By dividing its tennis racquet market into three categories, which it labels Performance, Recreational, and Junior tennis players, Prince Sports is using a marketing strategy called

Correct Answer
verified

Which of the following is a consumer market demographic segmentation variable?

Correct Answer
verified

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

Correct Answer
verified
Product differentiation involves a firm ...
View Answer

Exam 8: Market Segmentation, Targeting, and Positioning

Correct AnswerverifiedThere is one key difference between for-...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Today, marketers are increasingly emphasizing a Tiffany/Walmart strategy, which is to offer

Correct AnswerverifiedShow Answer

Usage rate is

Correct AnswerverifiedShow Answer

A marketing manager should develop segments for a market that meet five principal criteria. List these important factors in forming market segments.

Correct AnswerverifiedThe five criteria are: (1) simplicity an...View AnswerShow Answer

According to an Apple market-product grid for its personal computer line, Apple would most likely get the least product synergies from the

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Zappos offers value to its customers by

Correct AnswerverifiedShow Answer

Recently, U.S. dairies, struggling to increase milk sales, tried to change the way adults thought about chocolate milk. The dairies wanted to ________ chocolate milk in the minds of adult consumers.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Figure 8-2 -The table in Figure 8-2 is known as a

Correct AnswerverifiedShow Answer

After establishing the market segments and product groupings on a market-product grid, the next step is to

Correct AnswerverifiedShow Answer

Airlines have developed frequent-flyer programs to encourage passengers to use the same airline repeatedly. This marketing strategy is based on

Correct AnswerverifiedShow Answer

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the following question:

Correct AnswerverifiedShow Answer

A marketing manager goes through several steps to put a market segmentation plan into effect. This includes forming market segments and then ________ without encountering excessive costs.

Correct AnswerverifiedShow Answer

By dividing its tennis racquet market into three categories, which it labels Performance, Recreational, and Junior tennis players, Prince Sports is using a marketing strategy called

Correct AnswerverifiedShow Answer

Which of the following is a consumer market demographic segmentation variable?

Correct AnswerverifiedShow Answer

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

Correct AnswerverifiedProduct differentiation involves a firm ...View AnswerShow Answer

Correct Answer
verified
There is one key difference between for-...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The five criteria are: (1) simplicity an...
View Answer

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Product differentiation involves a firm ...
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