Question 1

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

Question 2

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 10/90 gap
B)   the 80/20 rule
C)   the 20/80 rule
D)   the 75/25 rule
E)   Parkinson's LawF) A) and D)
G) A) and C)

Question 3

of the following are criterion used for selecting target market segments EXCEPT:

Accepted Answer

A)   compatibility with the organization's objectives and resources.
B)   market size.
C)   simplicity and cost of assigning potential buyers to segments.
D)   competitive position.
E)   cost of reaching the segment.F) A) and E)
G) B) and E)

Question 4

axes on a perceptual map are

Accepted Answer

A)   two product attributes, each listed in terms of their opposites.
B)   market share and market growth rate.
C)   sales and profitability.
D)   customer perceptions of the firm's product versus the average of all brands in the industry.
E)   customer perceptions of the firm's product versus the brand of the firm's principal competitor.F) All of the above
G) C) and D)

Question 5

Which of the following in 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)   Buyers throughout the entire market have very similar wants and needs.F) A) and E)
G) None of the above

Question 6

is not recommended that a firm select a target segment that

Accepted Answer

A)   is incompatible with its company's goals or objectives.
B)   requires more than one marketing action.
C)   has few competitors that target this same segment.
D)   would require entry in a global marketplace.
E)   has a growth potential that would require increasing the current workforce.F) A) and B)
G) B) and C)

Question 7

a firm produces only a single product or service and attempts to sell it to two or more market segments,it avoids __________,which often results in extremely high research,engineering,and manufacturing expenses.

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

Question 8

Apple Market-Product Grid
-the Apple market-product grid shown above for its computer line,the "iMac" is popular among all the segments Apple can target.This allows Apple to enjoy __________.

Accepted Answer

A)   segmentation synergies
B)   marketing synergies
C)   product synergies
D)   80/20 rule
E)   usage ratesF) A) and C)
G) C) and D)

Question 9

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) All of the above
G) A) and B)

Question 10

cell of the market-product grid shows the __________.

Accepted Answer

A)   relative market share
B)   estimated market size
C)   investment required to reach the market
D)   market growth rate
E)   estimated profitF) A) and C)
G) A) and B)

Question 11

Which of the following statements best illustrates geographic segmentation?

Accepted Answer

A)   GE built a downsized 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 B)
G) None of the above

Question 12

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

Accepted Answer

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

Question 13

Segmentation based on where prospective customers live or work is referred to as

Accepted Answer

A)   zip code segmentation.
B)   geographic segmentation.
C)   regional segmentation.
D)   MSA segmentation.
E)   NAICS code segmentation.F) B) and C)
G) A) and B)

Question 14

developing a new breakfast menu,Wendy's had to consider not only the offerings of Burger King and McDonald's but also the

Accepted Answer

A)   monthly breakfast specials from IHOP and Perkins.
B)   dormitory breakfast meal plans at surrounding colleges and universities.
C)   quick-serve breakfast items from gas stations and convenience stores.
D)   local farmer's market that serves a hot breakfast buffet.
E)   breakfast cereals sold at local grocery stores.F) B) and E)
G) A) and D)

Question 15

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

Accepted Answer

A)   consumer differentiation.
B)   psychographics.
C)   market segmentation.
D)   market delineation.
E)   aggregation marketing.F) A) and E)
G) A) and D)

Question 16

Evergreen Air Center in Marana,Arizona,is the world's biggest parking lot for unwanted commercial aircraft.Airlines pay from $750 to $5,000 a month for its storage service.The warm,dry air where the operation is located serves as a cheap and effective airplane preservative.Which organizational segmentation variable might Evergreen use to segment the market?

Accepted Answer

A)   NAICS sector, such as manufacturers, or retailers, or lawyers
B)   number of locations
C)   "who buys," such as individual buyer or buying groups
D)   metropolitan statistical area
E)   number of employeesF) B) and D)
G) All of the above

Question 17

Alka-Seltzer was made originally as a hangover remedy that cured the headache and settled the stomach.Today you can buy Original Alka-Seltzer,Extra Strength Alka-Seltzer,Alka-Seltzer Morning Relief (for morning headaches and fatigue) ,and Alka-Seltzer Heartburn Relief.Each Alka-Seltzer product has a different formulation to relieve a specific malady for a specific targeted market segment.The maker of Alka-Seltzer is using

Accepted Answer

A)   product segmentation
B)   market sectioning.
C)   product differentiation.
D)   product segmentation..
E)   product base development.F) A) and D)
G) A) and B)

Question 18

Magazines like Fitness,Field & Stream,Golf Digest,and Health all use a __________ segmentation strategy.

Accepted Answer

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

Question 19

Tailoring goods 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)   "Tiffany/Walmart" marketing.
D)   economies of scale marketing.
E)   build-to-order.F) B) and E)
G) D) and E)

Question 20

Walt Disney Company carefully markets two distinct Winnie-the-Poohs-such as the original line-drawn figures on fine china sold at Nordstrom and a cartoon-like Pooh on polyester bed sheets sold at Walmart.This is an example of

Accepted Answer

A)   mass customization.
B)   one product and multiple market segments.
C)   price discrimination.
D)   a "Tiffany/Walmart" strategy.
E)   psychographic market segmentation.F) B) and E)
G) B) and C)

Exam 9: Market Segmentation,Targeting,and Positioning

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

Correct Answer
verified

developing a new breakfast menu,Wendy's had to consider not only the offerings of Burger King and McDonald's but also the

Correct Answer
verified

is not recommended that a firm select a target segment that

Correct Answer
verified

cell of the market-product grid shows the __________.

Correct Answer
verified

axes on a perceptual map are

Correct Answer
verified

Magazines like Fitness,Field & Stream,Golf Digest,and Health all use a __________ segmentation strategy.

Correct Answer
verified

a firm produces only a single product or service and attempts to sell it to two or more market segments,it avoids __________,which often results in extremely high research,engineering,and manufacturing expenses.

Correct Answer
verified

Which of the following statements best illustrates geographic segmentation?

Correct Answer
verified

Correct Answer
verified

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Walt Disney Company carefully markets two distinct Winnie-the-Poohs-such as the original line-drawn figures on fine china sold at Nordstrom and a cartoon-like Pooh on polyester bed sheets sold at Walmart.This is an example of

Correct Answer
verified

Segmentation based on where prospective customers live or work is referred to as

Correct Answer
verified

Apple Market-Product Grid -the Apple market-product grid shown above for its computer line,the "iMac" is popular among all the segments Apple can target.This allows Apple to enjoy __________.

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 in NOT a criterion to use in forming market segments?

Correct Answer
verified

of the following are criterion used for selecting target market segments EXCEPT:

Correct Answer
verified

perceptual map refers to

Correct Answer
verified

Exam 9: Market Segmentation,Targeting,and Positioning

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

Correct AnswerverifiedShow Answer

developing a new breakfast menu,Wendy's had to consider not only the offerings of Burger King and McDonald's but also the

Correct AnswerverifiedShow Answer

is not recommended that a firm select a target segment that

Correct AnswerverifiedShow Answer

cell of the market-product grid shows the __________.

Correct AnswerverifiedShow Answer

axes on a perceptual map are

Correct AnswerverifiedShow Answer

Magazines like Fitness,Field & Stream,Golf Digest,and Health all use a __________ segmentation strategy.

Correct AnswerverifiedShow Answer

a firm produces only a single product or service and attempts to sell it to two or more market segments,it avoids __________,which often results in extremely high research,engineering,and manufacturing expenses.

Correct AnswerverifiedShow Answer

Which of the following statements best illustrates geographic segmentation?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Walt Disney Company carefully markets two distinct Winnie-the-Poohs-such as the original line-drawn figures on fine china sold at Nordstrom and a cartoon-like Pooh on polyester bed sheets sold at Walmart.This is an example of

Correct AnswerverifiedShow Answer

Segmentation based on where prospective customers live or work is referred to as

Correct AnswerverifiedShow Answer

Apple Market-Product Grid -the Apple market-product grid shown above for its computer line,the "iMac" is popular among all the segments Apple can target.This allows Apple to enjoy __________.

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 in NOT a criterion to use in forming market segments?

Correct AnswerverifiedShow Answer

of the following are criterion used for selecting target market segments EXCEPT:

Correct AnswerverifiedShow Answer

perceptual map refers to

Correct AnswerverifiedShow Answer

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