Question 1

Samsung sells a variety of TVs, from simple and small ones to large smart TVs with Internet connectivity and 3-D technology. Customers prefer different features, so Samsung uses which type of segmentation variable based on their viewing preferences?

Accepted Answer

A)  demographic segmentation
B)  psychographic segmentation
C)  behavioral segmentation
D)  geographic segmentation
E)  socioeconomic segmentationF) C) and E)
G) D) and E)

Question 2

Which of the following is an example of a multiple products, multiple market segments 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 set of previews showed the action scenes in order to attract one audience and the other set 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)  Betty Crocker carries one line of cake mixes for people with conventional ovens and another line of cake mixes for people with microwave ovens.
E)  Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.F) None of the above
G) D) and E)

Question 3

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

Question 4

Which of the following statements regarding when and how to segment markets is most accurate?

Accepted Answer

A)  Even if a firm finds only one potential market segment, it should take advantage of the method to appear cutting-edge to its competitors and customers.
B)  Market segmentation only works for large corporations; small businesses don't have the resources to engage in the process.
C)  Governments should not attempt market segmentation because the strategy is only applicable for consumer and organizational markets.
D)  If a business firm goes to the trouble and expense of segmenting its markets, it expects to increase its sales, profits, and return on investment.
E)  Market segmentation strategies work less than 10 percent of the time.F) A) and B)
G) None of the above

Question 5

A positioning approach that involves seeking a less competitive, smaller market niche in which to locate a brand is referred to as

Accepted Answer

A)  competitive repositioning.
B)  head-to-head positioning.
C)  differentiation positioning.
D)  downsize positioning.
E)  product repositioning.F) A) and B)
G) C) and D)

Question 6

The increased customer value achieved through performing organizational functions such as marketing or manufacturing more efficiently is referred to as

Accepted Answer

A)  aggregation.
B)  organizational synergy.
C)  segmentation.
D)  amalgamation.
E)  valuation.F) C) and D)
G) B) and E)

Question 7

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 E)
G) All of the above

Question 8

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

Accepted Answer

A)  similarity of needs of potential buyers within a segment
B)  difference of needs of buyers between segments
C)  expected growth of a segment
D)  feasibility of a marketing action to reach a segment
E)  simplicity and cost of assigning potential buyers to segmentsF) B) and E)
G) A) and B)

Question 9

Explain the difference between mass customization and build-to-order.

Accepted Answer

Mass customization involves tailoring go...

Question 10

Region and city size are both variables used to employ __________ segmentation.

Accepted Answer

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

Question 11

To effectively position a product or brand, companies take four steps: (1)  identify the important attributes for the product or brand class; (2)  discover how target customers rate competing products or brands with respect to these attributes; (3)  ___________; and (4)  reposition the company's product or brand in the minds of potential customers.

Accepted Answer

A)  discover where the company's product or brand is on these attributes in the minds of potential customers
B)  decide whether to keep or delete the market segment that your product offering targets
C)  identify the competitors' brands that make up the consideration set
D)  create a marketing plan based on customers' perceptions
E)  identify market niches that were not selected during the market segmentation processF) A) and B)
G) C) and D)

Question 12

A relatively homogenous group of prospective buyers that results from the market segmentation process is referred to as

Accepted Answer

A)  a market segment.
B)  a target market.
C)  a customer base.
D)  an ultimate consumer.
E)  a preferred customer.F) B) and D)
G) B) and E)

Question 13

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

Accepted Answer

A key to positioning a product or brand ...

Question 14

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 unique formulation to relieve a specific malady that makes it more specialized than competing products. The maker of Alka-Seltzer is using a ___________ strategy.

Accepted Answer

A)  product variation
B)  product differentiation
C)  market sectioning
D)  product segmentation
E)  product base developmentF) B) and E)
G) C) and E)

Question 15

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) None of the above
G) A) and B)

Question 16

Which of the following statements about Zappos is most accurate?

Accepted Answer

A)  Zappos limits its inventory to a selection of high-end fashion footwear.
B)  Zappos carries more than 1,000 different brands.
C)  Zappos can guarantee overnight shipping to all its customers because they know ahead of time what they will be charged for express service.
D)  Zappos is so successful because it has chosen a single mission to "sell shoes and nothing else."
E)  Zappos offers a 30/60/90 return policy whereby refunds are based on how long you have had the shoes.F) B) and E)
G) A) and E)

Question 17

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

Accepted Answer

A)  rate of recurrence
B)  product utilization
C)  incidence
D)  frequency marketing
E)  consumption indexF) None of the above
G) B) and C)

Question 18

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) A) and D)

Question 19

All of the following are market segmentation strategies except

Accepted Answer

A)  build-to-order.
B)  multiple products, multiple market segments.
C)  one product, multiple market segments.
D)  multiple products, one segment.
E)  mass customization.F) C) and D)
G) B) and D)

Question 20

The 80/20 rule suggests that

Accepted Answer

A)  80 percent of a firm's inventory should be readily available while 20 percent should be reserved for emergency demand.
B)  80 percent of a firm's first-time users will become brand loyal while 20 percent will use the product only once and then abandon it.
C)  80 percent of a firm's sales are obtained from 20 percent of its customers.
D)  80 percent of a firm's marketing program expenses are tax deductible while 20 percent are not.
E)  80 percent of a firm's products will be sold to ultimate consumers while 20 percent to organizational buyers.F) B) and D)
G) A) and D)

Exam 9: Market Segmentation Targeting and Positioning

Explain the difference between mass customization and build-to-order.

Correct Answer
verified
Mass customization involves tailoring go...
View Answer

The increased customer value achieved through performing organizational functions such as marketing or manufacturing more efficiently is referred to as

Correct Answer
verified

Which of the following statements about Zappos is most accurate?

Correct Answer
verified

Region and city size are both variables used to employ __________ segmentation.

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Which of the following statements regarding when and how to segment markets is most accurate?

Correct Answer
verified

A positioning approach that involves seeking a less competitive, smaller market niche in which to locate a brand is referred to as

Correct Answer
verified

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

Correct Answer
verified

The 80/20 rule suggests that

Correct Answer
verified

Correct Answer
verified

Which of the following is an example of a multiple products, multiple market segments strategy?

Correct Answer
verified

A relatively homogenous group of prospective buyers that results from the market segmentation process is referred to as

Correct Answer
verified

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

Correct Answer
verified

Samsung sells a variety of TVs, from simple and small ones to large smart TVs with Internet connectivity and 3-D technology. Customers prefer different features, so Samsung uses which type of segmentation variable based on their viewing preferences?

Correct Answer
verified

Correct Answer
verified

All of the following are market segmentation strategies except

Correct Answer
verified

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

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

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

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

Exam 9: Market Segmentation Targeting and Positioning

Explain the difference between mass customization and build-to-order.

Correct AnswerverifiedMass customization involves tailoring go...View AnswerShow Answer

The increased customer value achieved through performing organizational functions such as marketing or manufacturing more efficiently is referred to as

Correct AnswerverifiedShow Answer

Which of the following statements about Zappos is most accurate?

Correct AnswerverifiedShow Answer

Region and city size are both variables used to employ __________ segmentation.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following statements regarding when and how to segment markets is most accurate?

Correct AnswerverifiedShow Answer

A positioning approach that involves seeking a less competitive, smaller market niche in which to locate a brand is referred to as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The 80/20 rule suggests that

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is an example of a multiple products, multiple market segments strategy?

Correct AnswerverifiedShow Answer

A relatively homogenous group of prospective buyers that results from the market segmentation process is referred to as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Samsung sells a variety of TVs, from simple and small ones to large smart TVs with Internet connectivity and 3-D technology. Customers prefer different features, so Samsung uses which type of segmentation variable based on their viewing preferences?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of the following are market segmentation strategies except

Correct AnswerverifiedShow Answer

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

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

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

Correct Answer
verified
Mass customization involves tailoring go...
View Answer

Correct Answer
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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

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