Question 1

You can go to your nearest Hallmark card store and buy a birthday greeting card for a friend and pay $4.50.Or you can buy a Hallmark card from its new $0.99 line of greeting cards,made with lesser-quality materials but just as sentimental,sold at Barnes & Noble bookstores.This is an example of

Accepted Answer

A)  mass customization.
B)  organizational synergy.
C)  one product and multiple market segments.
D)  price discrimination.
E)  a Tiffany/Walmart strategy.F) A) and D)
G) C) and D)

Question 2

A 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 customer.F) A) and E)
G) A) and D)

Question 3

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 C)
G) D) and E)

Question 4

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 5

The O³ technology refers to an innovative tennis racquet Prince Sports developed that simultaneously delivers faster racquet speed and a bigger sweet spot in the middle of the frame.Prince Sports has implemented a ________ strategy with its O³ innovative tennis racquet technology.

Accepted Answer

A)  competitive segmentation
B)  head-to-head
C)  product differentiation
D)  usage segmentation
E)  market segmentationF) All of the above
G) A) and E)

Question 6

What are the criteria used to select target markets?

Accepted Answer

There are two different kinds of criteri...

Question 7

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) A) and E)
G) A) and D)

Question 8

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

Accepted Answer

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

Question 9

Evergreen Air Center in Marana,Arizona,is the world's biggest parking lot for unwanted commercial aircraft.Airlines pay from $750 to $5,000 a month for its storage service.The warm,dry air where the operation is located serves as a cheap and effective airplane preservative.Which segmentation variable might Evergreen use to segment the market?

Accepted Answer

A)  NAICS sector,such as manufacturers,or retailers,or lawyers
B)  number of locations
C)  who buys,such as individual buyer or buying groups
D)  metropolitan statistical area
E)  number of employeesF) B) and E)
G) D) and E)

Question 10

The 80/20 rule suggests that

Accepted Answer

A)  80 percent of a firm's inventory should be readily available while 20 percent should be reserved for emergency demand.
B)  80 percent of a firm's first-time users will become brand loyal while 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 while 20 percent are not.
E)  80 percent of a firm's products will be sold to ultimate consumers while 20 percent to organizational buyers.F) B) and C)
G) B) and D)

Question 11

Which of the following statements demonstrate the formation of a segment based on household size?

Accepted Answer

A)  Campbell's makes a spicier nacho cheese sauce for its distributors in Texas than it does in Maine.
B)  GE built a smaller microwave oven to hang under kitchen cabinets.
C)  Del Monte offers a line of canned fruit with no added sugar or artificial sweeteners.
D)  A fast-food hamburger restaurant is only open for breakfast on weekdays and Saturdays but not Sundays.
E)  A gourmet grocer advertises its services on a small-audience classical music station even though there is a much larger-audience rock station in the area.F) C) and D)
G) A) and C)

Question 12

Apple Market-Product Grid
 
-In its early years,Apple was often called "Camp Runamok" because

Accepted Answer

A)  every employee was encouraged to do his or her own thing.
B)  it was concentrating on laptops while everyone else was concentrating on personal computers.
C)  all the employees were so young,so they often played more than they worked.
D)  there were no coherent product lines targeted at identifiable market segments.
E)  its personal computers were running amok with viruses,spyware,and other problems.F) B) and D)
G) C) and D)

Question 13

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 D)
G) B) and E)

Question 14

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,is referred to as a

Accepted Answer

A)  perception matrix.
B)  growth-share matrix.
C)  market-product grid.
D)  perceptual map.
E)  product differentiation chart.F) A) and B)
G) D) and E)

Question 15

Product differentiation refers to

Accepted Answer

A)  a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs.
B)  the unique combination of product benefits received by targeted buyers.
C)  those characteristics of a product that make it superior to competitive substitutes.
D)  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.
E)  the legal requirement that requires a specified degree of distinction between products to ensure an organization's intellectual property rights.F) B) and E)
G) D) and E)

Question 16

One advantage of a market-product grid is that it can be used to

Accepted Answer

A)  make cost-cutting decisions under conditions of uncertainty.
B)  screen many new-product ideas in order to select the one with the best long-run market potential.
C)  determine which target market segments to select and which product groupings to offer.
D)  select representative samples of consumers for marketing research studies.
E)  relate the product life cycle to consumer demand.F) A) and C)
G) None of the above

Question 17

In the athletic shoe market,Adidas AG and Nike Inc.practice ________ positioning since both companies vie for the same customers with technologically advanced products.

Accepted Answer

A)  psychological
B)  perceptual
C)  differentiation
D)  head-to-head
E)  marketF) None of the above
G) B) and D)

Question 18

All of the following are psychographic segmentation variables except which?

Accepted Answer

A)  lifestyle
B)  needs
C)  birth era
D)  PRIZM
E)  personalityF) A) and E)
G) A) and D)

Question 19

The increased customer value achieved through performing organizational functions such as marketing or manufacturing more efficiently is referred to as

Accepted Answer

A)  aggregation.
B)  organizational synergy.
C)  segmentation.
D)  amalgamation.
E)  valuation.F) A) and E)
G) B) and D)

Question 20

When expenses are greater than the potential increased sales from market segmentation,a firm should

Accepted Answer

A)  not consider market segmentation at this time.
B)  combine departments within the company to make the process more streamlined.
C)  reduce production costs or increase prices to facilitate the segmentation process.
D)  seek alternate channels of distribution,including Internet sales.
E)  discontinue manufacturing any products that are not in the mature stage of their product life cycle.F) A) and B)
G) A) and C)

Exam 9: Market Segmentation, targeting, and Positioning

One advantage of a market-product grid is that it can be used to

Correct Answer
verified

Apple Market-Product Grid -In its early years,Apple was often called "Camp Runamok" because

Correct Answer
verified

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

Correct Answer
verified

Which of the following statements demonstrate the formation of a segment based on household size?

Correct Answer
verified

You can go to your nearest Hallmark card store and buy a birthday greeting card for a friend and pay $4.50.Or you can buy a Hallmark card from its new $0.99 line of greeting cards,made with lesser-quality materials but just as sentimental,sold at Barnes & Noble bookstores.This is an example of

Correct Answer
verified

The 80/20 rule suggests that

Correct Answer
verified

Product differentiation refers to

Correct Answer
verified

In the athletic shoe market,Adidas AG and Nike Inc.practice ________ positioning since both companies vie for the same customers with technologically advanced products.

Correct Answer
verified

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,is referred to as a

Correct Answer
verified

The O³ technology refers to an innovative tennis racquet Prince Sports developed that simultaneously delivers faster racquet speed and a bigger sweet spot in the middle of the frame.Prince Sports has implemented a ________ strategy with its O³ innovative tennis racquet technology.

Correct Answer
verified

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

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

What are the criteria used to select target markets?

Correct Answer
verified
There are two different kinds of criteri...
View Answer

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

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

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

When expenses are greater than the potential increased sales from market segmentation,a firm should

Correct Answer
verified

Correct Answer
verified

All of the following are psychographic segmentation variables except which?

Correct Answer
verified

The increased customer value achieved through performing organizational functions such as marketing or manufacturing more efficiently is referred to as

Correct Answer
verified

Exam 9: Market Segmentation, targeting, and Positioning

One advantage of a market-product grid is that it can be used to

Correct AnswerverifiedShow Answer

Apple Market-Product Grid -In its early years,Apple was often called "Camp Runamok" because

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following statements demonstrate the formation of a segment based on household size?

Correct AnswerverifiedShow Answer

You can go to your nearest Hallmark card store and buy a birthday greeting card for a friend and pay $4.50.Or you can buy a Hallmark card from its new $0.99 line of greeting cards,made with lesser-quality materials but just as sentimental,sold at Barnes & Noble bookstores.This is an example of

Correct AnswerverifiedShow Answer

The 80/20 rule suggests that

Correct AnswerverifiedShow Answer

Product differentiation refers to

Correct AnswerverifiedShow Answer

In the athletic shoe market,Adidas AG and Nike Inc.practice ________ positioning since both companies vie for the same customers with technologically advanced products.

Correct AnswerverifiedShow Answer

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,is referred to as a

Correct AnswerverifiedShow Answer

The O³ technology refers to an innovative tennis racquet Prince Sports developed that simultaneously delivers faster racquet speed and a bigger sweet spot in the middle of the frame.Prince Sports has implemented a ________ strategy with its O³ innovative tennis racquet technology.

Correct AnswerverifiedShow Answer

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

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

What are the criteria used to select target markets?

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

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

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

When expenses are greater than the potential increased sales from market segmentation,a firm should

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of the following are psychographic segmentation variables except which?

Correct AnswerverifiedShow Answer

The increased customer value achieved through performing organizational functions such as marketing or manufacturing more efficiently is referred to as

Correct AnswerverifiedShow Answer

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There are two different kinds of criteri...
View Answer

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

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verified

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