Question 1

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 potential buyers to relative market share compared to the largest competitor.
E)  the market segments of potential buyers to products offered or potential marketing actions by an organization.F) C) and D)
G) A) and C)

Question 2

Name Maker is an online company that sells high-end gift wrapping that can have custom slogans or names printed on it, such as the name of a person celebrating a birthday or a couple who is getting married. This made-to-order gift wrapping is priced from $24.95 to $32.95 per 12-foot roll. This is an example of

Accepted Answer

A)  family branding.
B)  mass customization.
C)  synergistic marketing.
D)  "Tiffany/Walmart" marketing.
E)  specialty customization.F) C) and D)
G) D) and E)

Question 3

Nielsen PRIZM segmentation classifies every household into one of 66 demographically and __________ distinct neighborhood segments to identify lifestyles and purchase behavior within a defined geographic market area, such as zip code.

Accepted Answer

A)  financially
B)  behaviorally
C)  ethnically
D)  socially
E)  ethnographicallyF) A) and B)
G) B) and D)

Question 4

Magazines such as Fitness, Field & Stream, Golf Digest, and Health focus on how people live their lives, and thus all use a __________ segmentation strategy.

Accepted Answer

A)  psychographic
B)  behavioral
C)  situational
D)  socioeconomic
E)  geographicF) C) and D)
G) A) and B)

Question 5

Small athletic shoe manufacturers such as Vans target niche markets and make shoes designed to satisfy the needs of different specific groups of customers. This strategy is an example of

Accepted Answer

A)  market segmentation.
B)  mass customization.
C)  customized manufacturing.
D)  single chain marketing.
E)  market specific selection.F) B) and D)
G) All of the above

Question 6

Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as

Accepted Answer

A)  product placement.
B)  perceptual mapping.
C)  product positioning.
D)  product repositioning.
E)  product differentiation.F) C) and D)
G) B) and C)

Question 7

Which of the following is not a criterion to use in 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 its profitability.F) B) and D)
G) A) and C)

Question 8

__________ often come at the expense of __________ because a single customer segment will likely require a variety of products, each of which will have to designed and manufactured.

Accepted Answer

A)  Product synergies; marketing synergies
B)  Marketing synergies; product synergies
C)  Supplier synergies; consumer synergies
D)  Distributor synergies; supplier synergies
E)  Marketing synergies; finance synergiesF) A) and B)
G) C) and D)

Question 9

Zappos focuses on people who will shop for and buy shoes online and like to use mobile technology. The strategy of appealing to specific types of customers in this way is an example of

Accepted Answer

A)  mass customization.
B)  product definition.
C)  market segmentation.
D)  single chain marketing.
E)  market specific selection.F) A) and E)
G) B) and D)

Question 10

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

Accepted Answer

A)  potential for increased profit
B)  competitive position
C)  similarity of needs of potential buyers within a segment
D)  difference of needs of buyers among segments
E)  potential of a marketing action to reach a segmentF) C) and D)
G) B) and D)

Question 11

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 products offered or potential marketing actions by an organization.F) A) and E)
G) A) and D)

Question 12

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as

Accepted Answer

A)  family branding.
B)  mass customization.
C)  product differentiation.
D)  economies of scale marketing.
E)  build-to-order.F) D) and E)
G) A) and B)

Question 13

Lands' End will custom-fit a Marinac jacket and make it with additional features such as thumb loops, underarm ventilation slits, and a key clip when you order from LandsEnd.com. This is an example of

Accepted Answer

A)  family branding.
B)  mass customization.
C)  "Tiffany/Walmart" marketing.
D)  market melding.
E)  specialty customization.F) B) and E)
G) A) and B)

Question 14

Which of the following statements regarding segmentation bases is most accurate?

Accepted Answer

A)  The identification of demographic variables is more objective than the identification of psychographic variables, which is more subjective.
B)  Marketers should use segmentation bases in this order to reduce potential costs: behavioral, demographic, psychographic, and geographic.
C)  The identification of psychographic variables is more objective than the identification of demographic variables, which is more subjective.
D)  Behavioral segmentation is based primarily on personality.
E)  Psychographic segmentation is based primarily on product features.F) A) and B)
G) B) and E)

Question 15

Market segmentation refers to

Accepted Answer

A)  the philosophy that to do a truly excellent job of marketing, a company should concentrate on only one customer segment at a time.
B)  sorting prospective buyers into groups that are willing 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 then creating specific products that will satisfy this person'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) None of the above
G) C) and D)

Question 16

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a

Accepted Answer

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

Question 17

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

Question 18

Five general criteria are often used to select target segments. They include: (1)  the size of the market, (2)  expected growth of the market, (3)  competitive position of the firm with respect to the market, (4)  cost of reaching the segment, and (5)  __________.

Accepted Answer

A)  compatibility with the organization's objectives and resources
B)  potential of a marketing action to reach a segment
C)  similarity of needs of potential buyers within a segment
D)  difference of needs of buyers among segments
E)  potential for increased profitF) A) and D)
G) A) and C)

Question 19

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 20

Product positioning refers to

Accepted Answer

A)  an outdated concept that assigns product value by association with social class.
B)  the place a product offering occupies in consumers' minds on important attributes.
C)  the competitive advantage of one product over another.
D)  changing the place a product occupies in a consumer's mind relative to competitive products.
E)  using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets.F) A) and B)
G) C) and D)

Exam 9: Market Segmentation Targeting and Positioning

Which of the following statements regarding segmentation bases is most accurate?

Correct Answer
verified

Magazines such as Fitness, Field & Stream, Golf Digest, and Health focus on how people live their lives, and thus all use a __________ segmentation strategy.

Correct Answer
verified

Small athletic shoe manufacturers such as Vans target niche markets and make shoes designed to satisfy the needs of different specific groups of customers. This strategy is an example of

Correct Answer
verified

often come at the expense of because a single customer segment will likely require a variety of products, each of which will have to designed and manufactured.

Correct Answer
verified

Correct Answer
verified

Nielsen PRIZM segmentation classifies every household into one of 66 demographically and __________ distinct neighborhood segments to identify lifestyles and purchase behavior within a defined geographic market area, such as zip code.

Correct Answer
verified

Five general criteria are often used to select target segments. They include: (1) the size of the market, (2) expected growth of the market, (3) competitive position of the firm with respect to the market, (4) cost of reaching the segment, and (5) __________.

Correct Answer
verified

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a

Correct Answer
verified

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

Correct Answer
verified

Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as

Correct Answer
verified

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as

Correct Answer
verified

Which of the following is not a criterion to use in forming market segments?

Correct Answer
verified

A market-product grid is a framework to relate

Correct Answer
verified

Zappos focuses on people who will shop for and buy shoes online and like to use mobile technology. The strategy of appealing to specific types of customers in this way is an example of

Correct Answer
verified

Lands' End will custom-fit a Marinac jacket and make it with additional features such as thumb loops, underarm ventilation slits, and a key clip when you order from LandsEnd.com. This is an example of

Correct Answer
verified

Market segmentation refers to

Correct Answer
verified

Product positioning refers to

Correct Answer
verified

A market-product grid is a framework to relate

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

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

Exam 9: Market Segmentation Targeting and Positioning

Which of the following statements regarding segmentation bases is most accurate?

Correct AnswerverifiedShow Answer

Magazines such as Fitness, Field & Stream, Golf Digest, and Health focus on how people live their lives, and thus all use a __________ segmentation strategy.

Correct AnswerverifiedShow Answer

Small athletic shoe manufacturers such as Vans target niche markets and make shoes designed to satisfy the needs of different specific groups of customers. This strategy is an example of

Correct AnswerverifiedShow Answer

__________ often come at the expense of __________ because a single customer segment will likely require a variety of products, each of which will have to designed and manufactured.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Nielsen PRIZM segmentation classifies every household into one of 66 demographically and __________ distinct neighborhood segments to identify lifestyles and purchase behavior within a defined geographic market area, such as zip code.

Correct AnswerverifiedShow Answer

Five general criteria are often used to select target segments. They include: (1) the size of the market, (2) expected growth of the market, (3) competitive position of the firm with respect to the market, (4) cost of reaching the segment, and (5) __________.

Correct AnswerverifiedShow Answer

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as

Correct AnswerverifiedShow Answer

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as

Correct AnswerverifiedShow Answer

Which of the following is not a criterion to use in forming market segments?

Correct AnswerverifiedShow Answer

A market-product grid is a framework to relate

Correct AnswerverifiedShow Answer

Zappos focuses on people who will shop for and buy shoes online and like to use mobile technology. The strategy of appealing to specific types of customers in this way is an example of

Correct AnswerverifiedShow Answer

Lands' End will custom-fit a Marinac jacket and make it with additional features such as thumb loops, underarm ventilation slits, and a key clip when you order from LandsEnd.com. This is an example of

Correct AnswerverifiedShow Answer

Market segmentation refers to

Correct AnswerverifiedShow Answer

Product positioning refers to

Correct AnswerverifiedShow Answer

A market-product grid is a framework to relate

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

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

Correct Answer
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Correct Answer
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Correct Answer
verified

often come at the expense of because a single customer segment will likely require a variety of products, each of which will have to designed and manufactured.

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