Filters
Question type
Study Flashcards

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

Correct Answer

verifed

verified

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

View Answer

The annual Sporting News Baseball Yearbook had exactly the same stories but with 17 different covers to appeal to baseball fans in 17 of the U.S.regions.What is the basis of its market segmentation strategy?


A) psychographic segmentation
B) retail outlet segmentation
C) demographic segmentation
D) behavioral segmentation
E) geographic segmentation

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

Correct Answer

verifed

verified

When expenses are greater than the potential increased sales from market segmentation,a firm should


A) not consider market segmentation at this time.
B) combine departments within the company to make the process more streamlined.
C) reduce production costs or increase prices to facilitate the segmentation process.
D) seek alternate channels of distribution, including Internet sales.
E) discontinue manufacturing any products that are not in the mature stage of their product life cycle.

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

Correct Answer

verifed

verified

Segmentation based on some observable actions or attitudes by prospective customers,such as what benefits they seek,as well as where,how frequently,and why they buy,is referred to as


A) demographic segmentation.
B) psychographic segmentation.
C) geographic segmentation.
D) behavioral segmentation.
E) socioeconomic segmentation.

F) B) and D)
G) D) and E)

Correct Answer

verifed

verified

Which of the following is a consumer market demographic segmentation variable?


A) personality
B) occupation
C) usage rate
D) needs
E) region

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

Correct Answer

verifed

verified

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


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

F) B) and D)
G) B) and E)

Correct Answer

verifed

verified

Figure 8-6 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 A) students that live in a dormitory. B) that live in an apartment. C) students that are day commuters. D) students that are night commuters. E) faculty or staff members. -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


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

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

Correct Answer

verifed

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


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

F) D) and E)
G) None of the above

Correct Answer

verifed

verified

Product features and usage rate are both variables used to employ __________ segmentation.


A) geographic
B) demographic
C) loyalty
D) psychographic
E) behavioral

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

Correct Answer

verifed

verified

According to Tony Hsieh,CEO of Zappos,the company devotes the greatest amount of time to


A) seeking new and unusual styles of shoes from all over the world.
B) improving the website to make it faster, more interesting, and fun.
C) seeking new markets that will go beyond the Internet.
D) finding the fastest and least expensive modes of delivery for its products.
E) finding ways to improve customer service levels.

F) All of the above
G) A) and C)

Correct Answer

verifed

verified

It is not recommended that a firm select a target segment that


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

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

Correct Answer

verifed

verified

Define product positioning.What are two approaches to product positioning? Give an example of each approach.

Correct Answer

verifed

verified

Product positioning refers to the place ...

View Answer

Segmentation based on some subjective mental or emotional attributes,aspirations,or needs of prospective customers is referred to as


A) behavioral segmentation.
B) affective segmentation.
C) socioeconomic segmentation.
D) psychographic segmentation.
E) sociocultural segmentation.

F) All of the above
G) B) and D)

Correct Answer

verifed

verified

Two key types of synergies are


A) supplier and distributor synergies.
B) marketing and product synergies.
C) industry-dominated and consumer-dominated.
D) product and production synergies.
E) consumer and market synergies.

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

Correct Answer

verifed

verified

Usage rate refers to


A) the percentage of total possible users divided by the total number of consumers who actually use a product or service.
B) the number of times a customer uses or recommends a product or service annually.
C) quantity consumed or patronage (store visits) during a specific period.
D) the maximum number of times a customer has used a product or service historically.
E) the profits a firm earns from customers who consume a particular product or service.

F) A) and B)
G) A) and D)

Correct Answer

verifed

verified

The ultimate criterion for an organization's marketing success is that __________ as a result of increased synergies.


A) costs decrease
B) market share increases
C) product deficiencies decrease
D) customers should be better off
E) new products flourish

F) C) and E)
G) C) and D)

Correct Answer

verifed

verified

Australia-based Renewable Energy Ltd.sells a $10 million device that converts manure into energy.One of these devices is capable of generating energy equal to $2 million of natural gas per year.The company believes its target market consists of businesses similar to its first customer,a fertilizer manufacturer that was located in a rural area.If the firm expands to the United States,it most likely will use which of the following strategies to segment its market?


A) behavioral and geographic
B) number of employees and behavioral
C) purchase location and purchase type
D) NAICS code and geographic
E) behavioral and NAICS code

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

Correct Answer

verifed

verified

Personality and lifestyle are both variables used to employ __________ segmentation.


A) geographic
B) behavioral
C) attitudinal
D) psychographic
E) demographic

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

Correct Answer

verifed

verified

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


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 allow for free returns of goods if dissatisfied
E) to have a wide selection of shoes

F) D) and E)
G) B) and E)

Correct Answer

verifed

verified

Grocery retailer Safeway displays the thousands of items it sells in aisles containing related items or product groupings.Examples would be the pet food aisle or the soft drink aisle.Why would Safeway display and sell product groupings in this manner?


A) The groupings increase the number of market-product combinations on the market-product grid, which makes it a more manageable framework for subsequent analysis.
B) This form of product groupings makes it easier for customers to get in and out of the store more quickly, creating time utility.
C) The products are grouped so people can relate to them in a more meaningful way when they shop.
D) Product groupings can be generated quantitatively to show which adhere to the 80/20 rule.
E) Suppliers get preferential treatment based upon the number of different UPCs they provide.

F) A) and D)
G) C) and D)

Correct Answer

verifed

verified

Showing 161 - 180 of 201

Related Exams

Exam 1

Creating Customer Relationships and Value Through Marketing

240 Questions

Exam 2

Developing Successful Organizational and Marketing Strategies

363 Questions

Exam 3

Understanding the Marketing Environment,ethical Behavior,and Social Responsibility

350 Questions

Exam 4

Understanding Consumer Behavior

364 Questions

Exam 5

Understanding Organizations As Customers

208 Questions

Exam 6

Understanding and Reaching Global Consumers and Markets

234 Questions

Exam 7

Marketing Research: From Customer Insights to Actions

260 Questions

Exam 9

Developing New Products and Services

352 Questions

Exam 10

Managing Successful Products, services, and Brands

375 Questions

Exam 11

Pricing Products and Services

374 Questions

Exam 12

Managing Marketing Channels and Supply Chains

292 Questions

Exam 13

Retailing and Wholesaling

330 Questions

Exam 14

Integrated Marketing Communications and Direct Marketing

289 Questions

Exam 15

Advertising, sales Promotion, and Public Relations

323 Questions

Exam 16

Using Social Media and Mobile Marketing to Connect With Consumers

161 Questions

Exam 17

Personal Selling and Sales Management

304 Questions

Exam 18

Implementing Interactive and Multichannel Marketing

248 Questions

Exam 19

Building an Effective Marketing Plan

77 Questions

Show Answer