Question 1

The purpose of the five key steps in segmenting and targeting markets is to

Accepted Answer

A)  identify competitors that provide similar products that satisfy a firm's customers' needs.
B)  provide guidance to reposition a firm's products.
C)  generate new-product ideas for firms that are not growing in market share.
D)  link market needs of customers to the organization's marketing program.
E)  correlate directly to each of the five environmental forces.F) All of the above
G) A) and C)

Question 2

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)  the CEO of the firmF) B) and E)
G) A) and B)

Question 3

Recently Colgate-Palmolive introduced Colgate Enamel Health toothpaste,one that claims to replenish and polish tooth enamel,the hard outer layer of the tooth that provides a protective barrier to inner layers.This new formula helps to separate the Colgate product from its top competitors,such as Crest.What marketing strategy did Colgate-Palmolive use here?

Accepted Answer

A)  product differentiation
B)  product segmentation
C)  market expansion
D)  usage segmentation
E)  psychographic segmentationF) D) and E)
G) None of the above

Question 4

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

Question 5

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) A) and B)
G) C) and D)

Question 6

Variables that are based on some objective physical (gender,ethnicity) ,measurable (age,income) ,or other classification attribute (birth era,occupation) of prospective customers are used in which segmentation base?

Accepted Answer

A)  personality
B)  usage
C)  needs
D)  demographic
E)  behavioralF) A) and D)
G) B) and E)

Question 7

One approach to positioning a product 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) All of the above
G) A) and B)

Question 8

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) A) and D)
G) B) and C)

Question 9

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 10

The annual Sporting News Baseball Yearbook uses 15 different covers featuring a baseball star from each of its regions in the United States,yet each regional issue has the same magazine content.The publisher is using which of the following segmentation strategies?

Accepted Answer

A)  multiple products with one segment
B)  one product with one channel of distribution
C)  one product with multiple market segments
D)  one product with changes based on customer behavior
E)  multiple products with multiple segmentsF) B) and D)
G) A) and B)

Question 11

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer which of the following questions?

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) B) and D)
G) C) and D)

Question 12

Custom Foot operates six retail locations.At first glance,none looks different from a typical boot store.But here the only boots on hand are display models.There is no inventory for sale and customers go home empty-handed,awaiting their orders.Customers browse the store,choosing style,color,and leather type,with about 100 displays to provide style guidelines.Custom Foot guarantees your boots will be ready within three weeks.This is an example of

Accepted Answer

A)  mass customization.
B)  specialty customization.
C)  virtual merchandising.
D)  one product and multiple market segments.
E)  multiple products and multiple market segments.F) B) and E)
G) None of the above

Question 13

Name Maker is an online company that sells,among other items,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 an example of

Accepted Answer

A)  family branding.
B)  mass customization.
C)  synergistic marketing.
D)  "Tiffany/Walmart" marketing.
E)  specialty customization.F) All of the above
G) None of the above

Question 14

Apple Market-Product Grid
 
-According to the Apple market-product grid above,Apple would most likely get the least product synergies from the

Accepted Answer

A)  Mac Pro and MacBook Pro.
B)  Mac Pro and iMac.
C)  Mac Pro and MacBook Air.
D)  Mac Pro and Mac Mini.
E)  iMac and Mac Mini.F) A) and B)
G) B) and C)

Question 15

Tony Hsieh,CEO of Zappos,offers $4,000 to anyone who

Accepted Answer

A)  identifies a completely new market segment with a product to match it.
B)  finds a way of improving service to online customers.
C)  takes the customer loyalty training class and decides to quit anyway.
D)  finds a shoe-related product that Zappos does not already carry.
E)  creates a humorous theme for one of the monthly company meetings.F) A) and B)
G) A) and C)

Question 16

Product repositioning refers to

Accepted Answer

A)  the place a product offering occupies in consumers' minds on important attributes.
B)  using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets.
C)  changing the place an offering occupies in a consumer's mind relative to competitive products.
D)  the practice of selling a firm's least successful product line and redirecting that revenue into a totally new product.
E)  the competitive advantage of one product over another.F) B) and D)
G) A) and C)

Question 17

As an owner of a Wendy's fast-food restaurant located near a large urban university,you need to analyze your customers and determine which segmentation base and its associated variable(s) you will use to segment your target market.Which segmentation base and associated variable(s) should you use?

Accepted Answer

A)  psychographic: VALS and personality
B)  demographic: gender and age
C)  behavioral: students and nonstudents
D)  geographic: city size and zip code
E)  transportation mode: car,bike,public transportation,and none (walking) F) C) and D)
G) B) and E)

Question 18

When a new product or a new retail chain steals customers and sales from the organization's older products and retail outlets,it is referred to as

Accepted Answer

A)  cannibalization.
B)  amortization.
C)  product appropriation.
D)  product pilfering.
E)  marketing Darwinism.F) A) and B)
G) C) and E)

Question 19

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

Accepted Answer

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

Question 20

Which of the following is an example of a Tiffany/Walmart strategy?

Accepted Answer

A)  College Football magazine selects different covers for essentially the same magazine in order to appeal to different geographic markets in the United States.
B)  A new movie used several different movie trailers;one showed the action scenes in order to attract one audience and the other showed romantic scenes to attract another audience.
C)  Arm and Hammer Baking Soda can be used for baking and to remove odors from refrigerators and litter boxes.
D)  Gap's Banana Republic chain sells blue jeans for $58,whereas its Old Navy stores sell a slightly different version for $22.
E)  Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.F) C) and D)
G) B) and E)

Exam 9: Market Segmentation, targeting, and Positioning

Product repositioning refers to

Correct Answer
verified

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

Correct Answer
verified

Apple Market-Product Grid -According to the Apple market-product grid above,Apple would most likely get the least product synergies from the

Correct Answer
verified

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer which of the following questions?

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

Variables that are based on some objective physical (gender,ethnicity) ,measurable (age,income) ,or other classification attribute (birth era,occupation) of prospective customers are used in which segmentation base?

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Which of the following is an example of a Tiffany/Walmart strategy?

Correct Answer
verified

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

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

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

Correct Answer
verified

The purpose of the five key steps in segmenting and targeting markets is to

Correct Answer
verified

Tony Hsieh,CEO of Zappos,offers $4,000 to anyone who

Correct Answer
verified

As an owner of a Wendy's fast-food restaurant located near a large urban university,you need to analyze your customers and determine which segmentation base and its associated variable(s) you will use to segment your target market.Which segmentation base and associated variable(s) should you use?

Correct Answer
verified

The annual Sporting News Baseball Yearbook uses 15 different covers featuring a baseball star from each of its regions in the United States,yet each regional issue has the same magazine content.The publisher is using which of the following segmentation strategies?

Correct Answer
verified

Name Maker is an online company that sells,among other items,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 an example of

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

When a new product or a new retail chain steals customers and sales from the organization's older products and retail outlets,it is referred to as

Correct Answer
verified

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

Correct Answer
verified

Exam 9: Market Segmentation, targeting, and Positioning

Product repositioning refers to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Apple Market-Product Grid -According to the Apple market-product grid above,Apple would most likely get the least product synergies from the

Correct AnswerverifiedShow Answer

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer which of the following questions?

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

Variables that are based on some objective physical (gender,ethnicity) ,measurable (age,income) ,or other classification attribute (birth era,occupation) of prospective customers are used in which segmentation base?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is an example of a Tiffany/Walmart strategy?

Correct AnswerverifiedShow Answer

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

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

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

Correct AnswerverifiedShow Answer

The purpose of the five key steps in segmenting and targeting markets is to

Correct AnswerverifiedShow Answer

Tony Hsieh,CEO of Zappos,offers $4,000 to anyone who

Correct AnswerverifiedShow Answer

As an owner of a Wendy's fast-food restaurant located near a large urban university,you need to analyze your customers and determine which segmentation base and its associated variable(s) you will use to segment your target market.Which segmentation base and associated variable(s) should you use?

Correct AnswerverifiedShow Answer

The annual Sporting News Baseball Yearbook uses 15 different covers featuring a baseball star from each of its regions in the United States,yet each regional issue has the same magazine content.The publisher is using which of the following segmentation strategies?

Correct AnswerverifiedShow Answer

Name Maker is an online company that sells,among other items,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 an example of

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

When a new product or a new retail chain steals customers and sales from the organization's older products and retail outlets,it is referred to as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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Product differentiation involves a firm ...
View Answer

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