Question 1

-In Figure 8-1 above, Box A represents which stage of the market segmentation process?

Accepted Answer

A)  link needs to actions
B)  identify market needs
C)  establish a marketing protocol
D)  execute marketing program actions
E)  segment and select the target marketsF) B) and C)
G) C) and D)

Question 2

Procter & Gamble (P&G)  decided to skip a generation of consumers when it began to market Old Spice deodorant. The target market consists of men aged 18 to 34 years old (Generation Y)  who don't remember the Old Spice brand sold to their grandfathers (pre baby boomer)  many years ago. P&G is using which type of segmentation variable?

Accepted Answer

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

Question 3

-Figure 8-7 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus with chosen market segments and product groupings. The next step is to develop a simple marketing action to reach a target market. Placing flyers under windshield wipers of cars parked in student parking lots on weekdays between 7:00 a.m. and 4:00 p.m. that offer a $2 off coupon on lunch meal would be especially targeted at potential

Accepted Answer

A)  faculty customers.
B)  staff customers.
C)  day commuter customers.
D)  night commuter customers.
E)  nonstudent customers.F) A) and C)
G) A) and D)

Question 4

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 their products
D)  combine segments
E)  group products into categoriesF) A) and B)
G) A) and C)

Question 5

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

Question 6

-In the Apple market-product grid shown above for its personal computer line, the professional segment of medium/large businesses seems willing to purchase all of the items in Apple's product line. This allows Apple to enjoy cost savings due to __________.

Accepted Answer

A)  segment differentiation
B)  marketing synergies
C)  product synergies
D)  segment repositioning
E)  product differentiationF) A) and B)
G) C) and D)

Question 7

Chip-N-Dough Cookie Company will let you select cookies and put a photo of yourself on the tin. This is an example of

Accepted Answer

A)  mass customization.
B)  multiple marketing.
C)  target marketing.
D)  product clustering.
E)  repositioning.F) A) and B)
G) B) and D)

Question 8

Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands

Accepted Answer

A)  against large market segments in a market-product grid.
B)  against small market segments in a market-product grid.
C)  in virtual space that represents the business or product's time in existence and growth.
D)  in the minds of consumers.
E)  against the revenues generated by other products or brands within the company.F) A) and B)
G) A) and C)

Question 9

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) A) and E)
G) B) and E)

Question 10

Airlines have developed frequent-flier 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 B)
G) B) and D)

Question 11

-Figure 8-6 above 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 C)
G) A) and E)

Question 12

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) A) and E)

Question 13

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) A) and B)
G) A) and E)

Question 14

-In Figure 8-1 above, B represents which stage of the market segmentation process?

Accepted Answer

A)  link needs to actions
B)  identify market needs
C)  establish a marketing protocol
D)  execute marketing program actions
E)  segment and select the target marketsF) D) and E)
G) A) and B)

Question 15

A perceptual map refers to

Accepted Answer

A)  a framework used to compare one firm's product offerings with another firm's offerings in relationship to their relative market share.
B)  a framework used to demonstrate the growth or decline of specific market segments within an industry.
C)  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.
D)  a framework to relate the market segments of potential buyers to the products offered or potential marketing actions by an organization.
E)  the place a product occupies in a single consumer's mind on unimportant attributes relative to competitive products.F) A) and E)
G) C) and E)

Question 16

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) B) and E)
G) C) and E)

Question 17

What are the four steps to positioning a product with a perceptual map?

Accepted Answer

A key to positioning a product or brand ...

Question 18

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 sales revenues and profits, doesn't reduce quality or increase price, and

Accepted Answer

A)  conforms to all FDA guidelines.
B)  uses the same promotion and packaging for all segments.
C)  decreases the cost of the physical plant.
D)  stabilizes competition.
E)  better serves customers' needs.F) B) and C)
G) A) and E)

Question 19

Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as __________.

Accepted Answer

A)  competitive repositioning
B)  position downsizing
C)  differentiation positioning
D)  head-to-head positioning
E)  product distinction positioningF) C) and D)
G) All of the above

Question 20

__________ 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) D) and E)
G) B) and D)

Exam 8: Market Segmentation, Targeting, and Positioning

Chip-N-Dough Cookie Company will let you select cookies and put a photo of yourself on the tin. This is an example of

Correct Answer
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A perceptual map refers to

Correct Answer
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Market segmentation refers to

Correct Answer
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What are the four steps to positioning a product with a perceptual map?

Correct Answer
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A key to positioning a product or brand ...
View Answer

-In Figure 8-1 above, Box A represents which stage of the market segmentation process?

Correct Answer
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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
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Correct Answer
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-In Figure 8-1 above, B represents which stage of the market segmentation process?

Correct Answer
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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

Correct Answer
verified

-In the Apple market-product grid shown above for its personal computer line, the professional segment of medium/large businesses seems willing to purchase all of the items in Apple's product line. This allows Apple to enjoy cost savings due to __________.

Correct Answer
verified

Airlines have developed frequent-flier programs to encourage passengers to use the same airline repeatedly. This marketing strategy is based on

Correct Answer
verified

Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as __________.

Correct Answer
verified

Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands

Correct Answer
verified

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

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

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

Exam 8: Market Segmentation, Targeting, and Positioning

Chip-N-Dough Cookie Company will let you select cookies and put a photo of yourself on the tin. This is an example of

Correct AnswerverifiedShow Answer

A perceptual map refers to

Correct AnswerverifiedShow Answer

Market segmentation refers to

Correct AnswerverifiedShow Answer

What are the four steps to positioning a product with a perceptual map?

Correct AnswerverifiedA key to positioning a product or brand ...View AnswerShow Answer

-In Figure 8-1 above, Box A represents which stage of the market segmentation process?

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

Correct AnswerverifiedShow Answer

-In Figure 8-1 above, B represents which stage of the market segmentation process?

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

Correct AnswerverifiedShow Answer

-In the Apple market-product grid shown above for its personal computer line, the professional segment of medium/large businesses seems willing to purchase all of the items in Apple's product line. This allows Apple to enjoy cost savings due to __________.

Correct AnswerverifiedShow Answer

Airlines have developed frequent-flier programs to encourage passengers to use the same airline repeatedly. This marketing strategy is based on

Correct AnswerverifiedShow Answer

Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as __________.

Correct AnswerverifiedShow Answer

Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

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

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

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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A key to positioning a product or brand ...
View Answer

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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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