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

Question 2

The best segmentation approach for business firms is the one that

Accepted Answer

A)   makes it easiest to reach the segment.
B)   maximizes the opportunity for future profit and ROI.
C)   recognizes different needs of buyers among different segments.
D)   recognizes similarities of needs of potential buyers within a segment.
E)   is simplest and least costly in assigning potential buyers to segments.F) B) and C)
G) C) and D)

Question 3

The quantity consumed or patronage (store visits)  during a specific period is referred to as

Accepted Answer

A)   usage rate.
B)   purchase metric.
C)   consumption index.
D)   consumption rate.
E)   demand amount.F) A) and E)
G) A) and C)

Question 4

Kellogg's has several cereals targeted at different types of users. This is an example of multiple products aimed at multiple markets. Manufacturing these different cereals is clearly more expensive than producing only one but seems worthwhile if it adds to the manufacturer's profits and

Accepted Answer

A)   meets standards for new product testing.
B)   uses the same promotion and packaging for all segments.
C)   cannibalizes the earlier products.
D)   stabilizes competition.
E)   better serves customers' needs.F) A) and E)
G) None of the above

Question 5

Which of the following is a disadvantage of employing a multiple products, multiple market segments strategy if not implemented well?

Accepted Answer

A)   inability to meet high demand
B)   reduced quality and higher prices
C)   failure to meet diverse customer needs
D)   employee dissatisfaction
E)   frequent research and development failuresF) A) and D)
G) B) and C)

Question 6

Which of the following is a basis used to segment U.S. organizational markets?

Accepted Answer

A)   geographic
B)   psychographic
C)   income
D)   prospects
E)   educationF) A) and D)
G) A) and B)

Question 7

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

Question 8

A means of displaying in two dimensions the location of its own and competing products or brands in the minds of consumers is referred to as a(n)

Accepted Answer

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

Question 9

Which of the following statements best illustrates geographic segmentation?

Accepted Answer

A)   GE builds a smaller microwave oven to hang under kitchen cabinets.
B)   Del Monte offers a line of canned fruit with no added sugar or artificial sweeteners.
C)   In China, KFC sells a spicier chicken the farther away its restaurants are from the coastal areas.
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) A) and E)
G) B) and E)

Question 10

Explain what a market-product grid is and how it is used.

Accepted Answer

A market-product grid is a framework to ...

Question 11

Selling a product to a different market segment usually requires a different marketing action that, in turn, means greater costs. If increased revenues don't offset extra costs of this action, a marketer should

Accepted Answer

A)   increase the advertising budget.
B)   prune the product offerings.
C)   family brand the products.
D)   combine segments.
E)   group products into categories.F) B) and D)
G) A) and D)

Question 12

Which of the following is a criterion used in forming market segments?

Accepted Answer

A)   similarity of segments to competitors' segments
B)   differences between potential suppliers or distributors
C)   differences of needs of buyers within a segment
D)   market size of the segment
E)   simplicity and cost-effectiveness of assigning potential buyers to segmentsF) B) and C)
G) A) and E)

Question 13

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Accepted Answer

A)   pay attention to marketing messages.
B)   respond similarly to a marketing action.
C)   be responsive to marketing research.
D)   use the same payment methods.
E)   comply with the organization's core values.F) A) and D)
G) A) and C)

Question 14

Airline programs that encourage passengers to repeatedly use the same airline focus on usage rate and employ a ________ strategy.

Accepted Answer

A)   rate of recurrence
B)   product utilization
C)   incidence
D)   frequency marketing
E)   consumption indexF) B) and D)
G) All of the above

Question 15

While many energy drinks target teen and young adult males with extreme sports themes, 5-hour Energy frequently advertises toward adults needing a quick and easy way to get through a busy workday. The strategy for 5-hour Energy would be described as ________ positioning.

Accepted Answer

A)   alternate
B)   head-to-head
C)   lateral
D)   differentiation
E)   revisedF) C) and D)
G) A) and B)

Question 16

Figure 8-6
-Figure 8-6 shows the market-product grid for a Wendy's restaurant next to a large urban university campus. Assume a large market (shown by a 3)  is three times the size of a small market (shown by a 1)  and a medium market (shown by a 2)  is twice the size of a small market. The largest potential market segment consists of

Accepted Answer

A)   students that live in a dormitory.
B)   students that live in an apartment.
C)   students that are day commuters.
D)   students that are night commuters.
E)   faculty or staff members.F) B) and E)
G) A) and D)

Question 17

Variables such as location, the North American Industry Classification System (NAICS)  code, and number of employees are all examples of ways to

Accepted Answer

A)   differentiate products.
B)   forecast sales to a consumer market.
C)   segment an organizational market.
D)   promote NAFTA.
E)   segment a consumer market.F) C) and D)
G) A) and E)

Question 18

Figure 8-6
-Figure 8-6 shows the market-product grid for a Wendy's restaurant next to a large urban university campus. The best way to describe how the student market is segmented is

Accepted Answer

A)   whether the student is a faculty or staff member.
B)   whether the student lives near the campus or far away.
C)   whether the student has the disposable income to eat at Wendy's.
D)   combining where the student lives, if on campus, or what time the student commutes.
E)   the meals eaten at the Wendy's restaurant.F) D) and E)
G) A) and E)

Question 19

Assume that the perceptual map in Figure 8-8 is an accurate representation for adult consumers. A heavy consumer of mineral water is likely to think that mineral water is

Accepted Answer

A)   more nutritious than tea.
B)   more nutritious and a more adult-oriented beverage than milk shakes.
C)   a more adult-oriented beverage than nutritionally designed diet drinks.
D)   less nutritious and a more adult-oriented beverage than fruit-flavored drinks.
E)   a more adult-oriented beverage than sports drinks.F) A) and B)
G) C) and D)

Question 20

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 use of psychographic variables for segmentation is easiest for most consumer products.
D)   Behavioral segmentation is based primarily on personality.
E)   Geographic segmentation is rarely used today because of the Internet.F) A) and B)
G) A) and E)

Exam 8: Market Segmentation, Targeting, and Positioning

The quantity consumed or patronage (store visits) during a specific period is referred to as

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

Airline programs that encourage passengers to repeatedly use the same airline focus on usage rate and employ a ________ strategy.

Correct Answer
verified

While many energy drinks target teen and young adult males with extreme sports themes, 5-hour Energy frequently advertises toward adults needing a quick and easy way to get through a busy workday. The strategy for 5-hour Energy would be described as ________ positioning.

Correct Answer
verified

A means of displaying in two dimensions the location of its own and competing products or brands in the minds of consumers is referred to as a(n)

Correct Answer
verified

Kellogg's has several cereals targeted at different types of users. This is an example of multiple products aimed at multiple markets. Manufacturing these different cereals is clearly more expensive than producing only one but seems worthwhile if it adds to the manufacturer's profits and

Correct Answer
verified

Assume that the perceptual map in Figure 8-8 is an accurate representation for adult consumers. A heavy consumer of mineral water is likely to think that mineral water is

Correct Answer
verified

Variables such as location, the North American Industry Classification System (NAICS) code, and number of employees are all examples of ways to

Correct Answer
verified

Explain what a market-product grid is and how it is used.

Correct Answer
verified
A market-product grid is a framework to ...
View Answer

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

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

Which of the following is a criterion used in forming market segments?

Correct Answer
verified

Which of the following is a disadvantage of employing a multiple products, multiple market segments strategy if not implemented well?

Correct Answer
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Correct Answer
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Which of the following statements best illustrates geographic segmentation?

Correct Answer
verified

Figure 8-6 -Figure 8-6 shows the market-product grid for a Wendy's restaurant next to a large urban university campus. The best way to describe how the student market is segmented is

Correct Answer
verified

Selling a product to a different market segment usually requires a different marketing action that, in turn, means greater costs. If increased revenues don't offset extra costs of this action, a marketer should

Correct Answer
verified

Which of the following is a basis used to segment U.S. organizational markets?

Correct Answer
verified

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

Correct Answer
verified

The best segmentation approach for business firms is the one that

Correct Answer
verified

Exam 8: Market Segmentation, Targeting, and Positioning

The quantity consumed or patronage (store visits) during a specific period is referred to as

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

Airline programs that encourage passengers to repeatedly use the same airline focus on usage rate and employ a ________ strategy.

Correct AnswerverifiedShow Answer

While many energy drinks target teen and young adult males with extreme sports themes, 5-hour Energy frequently advertises toward adults needing a quick and easy way to get through a busy workday. The strategy for 5-hour Energy would be described as ________ positioning.

Correct AnswerverifiedShow Answer

A means of displaying in two dimensions the location of its own and competing products or brands in the minds of consumers is referred to as a(n)

Correct AnswerverifiedShow Answer

Kellogg's has several cereals targeted at different types of users. This is an example of multiple products aimed at multiple markets. Manufacturing these different cereals is clearly more expensive than producing only one but seems worthwhile if it adds to the manufacturer's profits and

Correct AnswerverifiedShow Answer

Assume that the perceptual map in Figure 8-8 is an accurate representation for adult consumers. A heavy consumer of mineral water is likely to think that mineral water is

Correct AnswerverifiedShow Answer

Variables such as location, the North American Industry Classification System (NAICS) code, and number of employees are all examples of ways to

Correct AnswerverifiedShow Answer

Explain what a market-product grid is and how it is used.

Correct AnswerverifiedA market-product grid is a framework to ...View AnswerShow Answer

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

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

Which of the following is a criterion used in forming market segments?

Correct AnswerverifiedShow Answer

Which of the following is a disadvantage of employing a multiple products, multiple market segments strategy if not implemented well?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements best illustrates geographic segmentation?

Correct AnswerverifiedShow Answer

Figure 8-6 -Figure 8-6 shows the market-product grid for a Wendy's restaurant next to a large urban university campus. The best way to describe how the student market is segmented is

Correct AnswerverifiedShow Answer

Selling a product to a different market segment usually requires a different marketing action that, in turn, means greater costs. If increased revenues don't offset extra costs of this action, a marketer should

Correct AnswerverifiedShow Answer

Which of the following is a basis used to segment U.S. organizational markets?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The best segmentation approach for business firms is the one that

Correct AnswerverifiedShow Answer

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A market-product grid is a framework to ...
View Answer

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