Question 1

In the sneaker business, Heelys practiced ________ positioning when it introduced a line of Heelys sneakers that came with an imbedded, detachable wheel in the shoe's heel marketed to young teens.

Accepted Answer

A)   head-to-head
B)   parallel market
C)   reflexive
D)   revised
E)   differentiationF) A) and D)
G) B) and D)

Question 2

When a firm produces only a single product or service and attempts to sell it to two or more market segments, it avoids

Accepted Answer

A)   the extra cost of developing and producing additional versions of the product.
B)   creating a customer service gap.
C)   indirect distribution and logistics problems.
D)   restructuring the firm's strategic planning.
E)   amortization costs of product enhancements.F) A) and D)
G) All of the above

Question 3

Hallmark places its scrapbook materials, photo albums, and related supplies into one product group because

Accepted Answer

A)   it is easier to forecast future sales since there are fewer market-product combinations.
B)   customers can buy in quantity and take advantage of quantity discounts.
C)   their suppliers provide free displays and shelving to highlight Hallmark's products.
D)   it helps buyers relate to the products and make decisions in a more meaningful way.
E)   it allows customers to compare price and quality with competitors who display their products in a similar manner.F) A) and E)
G) C) and E)

Question 4

Zappos' original target market customers consisted of people who wanted all of the following except which?

Accepted Answer

A)   to receive quick delivery of their merchandise
B)   to buy sustainable shoes, accessories, and clothing
C)   to shop online in the convenience of their own homes
D)   to return goods for free if dissatisfied
E)   to choose from a wide selection of shoesF) None of the above
G) C) and D)

Question 5

Todd Harris and Associates, a New York sales promotion agency, discovered from an analysis of its files that one-quarter (or 25 percent)  of its clients generated more than three-quarters (or 75 percent)  of its fees and commissions. This is an example of what classic concept?

Accepted Answer

A)   the two quarter gap
B)   the 80/20 rule
C)   the law of usage
D)   the 75/25 exchange
E)   Paget's LawF) A) and B)
G) A) and C)

Question 6

Determining the size of specific markets within a market-product grid is helpful in determining which target market segments to select and

Accepted Answer

A)   how to implement the 80/20 rule.
B)   which products to group into meaningful categories.
C)   how to implement a harvesting strategy.
D)   which product groupings to offer.
E)   which products to reposition.F) A) and B)
G) C) and E)

Question 7

ChoiceShirts is an online company that makes made-to-order T-shirts. Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch. This is an example of

Accepted Answer

A)   family branding.
B)   mass customization.
C)   multiple products and multiple market segments.
D)   one product and multiple market segments.
E)   specialty customization.F) A) and E)
G) D) and E)

Question 8

Campbell Soup Co. found that its canned nacho cheese sauce, which could be heated and poured directly onto nacho chips, was too spicy for Americans in the East and not spicy enough for those in the West and Southwest. Today, Campbell's plants in Texas and California produce a spicier nacho cheese sauce than what is produced in the other plants. Campbell's is using ________ segmentation.

Accepted Answer

A)   demographic
B)   behavioral
C)   economic
D)   geographic
E)   psychographicF) A) and B)
G) C) and D)

Question 9

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

Accepted Answer

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

Question 10

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

Question 11

Describe the market segmentation process.

Accepted Answer

Market segmentation first stresses the i...

Question 12

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

Question 13

Wonk is a unique furniture company that design, builds, and retails in Brooklyn, NY. You can customize your design with creative input, including personalizing items with wood and lacquer options or environmentally conscious materials and finishes, though the options are not unlimited. Wonk relies on

Accepted Answer

A)   order customization.
B)   a one product, one market segment strategy.
C)   build-to-order manufacturing.
D)   specialty customization.
E)   mass customization.F) B) and D)
G) C) and D)

Question 14

A basic test of the usefulness of the market segmentation process is whether it leads to tangible marketing actions that can

Accepted Answer

A)   increase sales and profitability.
B)   stand up to legal scrutiny.
C)   be socially responsible.
D)   create sustainable demand.
E)   produce product differentiation.F) A) and D)
G) A) and C)

Question 15

Tony Hsieh, CEO of Zappos, offers up to $5,000 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 its 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) B) and E)
G) C) and D)

Question 16

Manufacturing a product only when there is an order from a customer is referred to as

Accepted Answer

A)   order customization.
B)   a one product, one market segment strategy.
C)   synergistic marketing.
D)   build-to-order.
E)   specialty customization.F) C) and E)
G) B) and D)

Question 17

Organizational synergy is the increased customer value achieved through

Accepted Answer

A)   performing organizational functions more efficiently.
B)   more discounts or larger rebates at the point of sale.
C)   involvement of the ultimate consumer in product design.
D)   an increase in the knowledge of competitors.
E)   shared ownership of the organization through publicly traded stock.F) C) and E)
G) A) and C)

Question 18

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 D)
G) A) and E)

Question 19

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

Question 20

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) D) and E)
G) All of the above

Exam 8: Market Segmentation, Targeting, and Positioning

A basic test of the usefulness of the market segmentation process is whether it leads to tangible marketing actions that can

Correct Answer
verified

Describe the market segmentation process.

Correct Answer
verified
Market segmentation first stresses the i...
View Answer

When a firm produces only a single product or service and attempts to sell it to two or more market segments, it avoids

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

Determining the size of specific markets within a market-product grid is helpful in determining which target market segments to select and

Correct Answer
verified

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

In the sneaker business, Heelys practiced ________ positioning when it introduced a line of Heelys sneakers that came with an imbedded, detachable wheel in the shoe's heel marketed to young teens.

Correct Answer
verified

Correct Answer
verified

Organizational synergy is the increased customer value achieved through

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

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

Correct Answer
verified

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

Correct Answer
verified

Zappos' original target market customers consisted of people who wanted all of the following except which?

Correct Answer
verified

Manufacturing a product only when there is an order from a customer is referred to as

Correct Answer
verified

Todd Harris and Associates, a New York sales promotion agency, discovered from an analysis of its files that one-quarter (or 25 percent) of its clients generated more than three-quarters (or 75 percent) of its fees and commissions. This is an example of what classic concept?

Correct Answer
verified

ChoiceShirts is an online company that makes made-to-order T-shirts. Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch. This is an example of

Correct Answer
verified

Tony Hsieh, CEO of Zappos, offers up to $5,000 to anyone who

Correct Answer
verified

Hallmark places its scrapbook materials, photo albums, and related supplies into one product group because

Correct Answer
verified

Correct Answer
verified

Exam 8: Market Segmentation, Targeting, and Positioning

A basic test of the usefulness of the market segmentation process is whether it leads to tangible marketing actions that can

Correct AnswerverifiedShow Answer

Describe the market segmentation process.

Correct AnswerverifiedMarket segmentation first stresses the i...View AnswerShow Answer

When a firm produces only a single product or service and attempts to sell it to two or more market segments, it avoids

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

Determining the size of specific markets within a market-product grid is helpful in determining which target market segments to select and

Correct AnswerverifiedShow Answer

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

In the sneaker business, Heelys practiced ________ positioning when it introduced a line of Heelys sneakers that came with an imbedded, detachable wheel in the shoe's heel marketed to young teens.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Organizational synergy is the increased customer value achieved through

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

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Zappos' original target market customers consisted of people who wanted all of the following except which?

Correct AnswerverifiedShow Answer

Manufacturing a product only when there is an order from a customer is referred to as

Correct AnswerverifiedShow Answer

Todd Harris and Associates, a New York sales promotion agency, discovered from an analysis of its files that one-quarter (or 25 percent) of its clients generated more than three-quarters (or 75 percent) of its fees and commissions. This is an example of what classic concept?

Correct AnswerverifiedShow Answer

ChoiceShirts is an online company that makes made-to-order T-shirts. Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch. This is an example of

Correct AnswerverifiedShow Answer

Tony Hsieh, CEO of Zappos, offers up to $5,000 to anyone who

Correct AnswerverifiedShow Answer

Hallmark places its scrapbook materials, photo albums, and related supplies into one product group because

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
Market segmentation first stresses the i...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified