Question 1

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, is referred to as __________.

Accepted Answer

A)  cross-tabulation
B)  perceptual map
C)  market-product grid
D)  growth-share matrix
E)  product differentiation tableF) B) and E)
G) D) and E)

Question 2

The process of segmenting a market and selecting specific segments as targets is the link between the various buyers' needs and

Accepted Answer

A)  self-regulatory industry standards.
B)  government regulations.
C)  top-level management.
D)  controllable environmental factors.
E)  the organization's marketing program.F) None of the above
G) All of the above

Question 3

Determining the size of specific markets using 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 be sold into groups.
C)  how to implement a harvesting strategy.
D)  which product groupings to offer.
E)  which products to reposition.F) None of the above
G) A) and E)

Question 4

At a Hallmark store you can find several different product lines of greeting cards, likely including Fresh Ink, Nature's Sketchbook, Shoebox, Maxine, Mahogany, and Tree of Life cards-all made by Hallmark for sale in its stores and intended to appeal to different target markets.The Mahogany line is designed to appeal to African-Americans.This is an example of __________ segmentation.

Accepted Answer

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

Question 5

When 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) A) and E)
G) C) and D)

Question 6

Many families today hold potluck meals during holidays or special events.Participants bring casseroles, vegetables, breads, and desserts and all share the food.It is easy to forget to take the bowl that you brought to the dinner home with you.Reynolds responded to this problem by creating Pot Lux cookware, attractive and inexpensive disposable dishes for transporting food.Reynolds has recognized how to use _________ variables to segment its market.

Accepted Answer

A)  psychographic
B)  behavioral
C)  demographic
D)  social
E)  geographicF) B) and D)
G) B) and C)

Question 7

FIGURE 9-4 
-Figure 9-4 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.Sending out coupons for "10 percent off all purchases between 2:00 PM and 4:30 PM" during fall term would be especially targeted at potential

Accepted Answer

A)  dormitory customers.
B)  night commuter customers.
C)  between-meal snack customers.
D)  after-dinner snack customers.
E)  apartment customers.F) C) and E)
G) B) and D)

Question 8

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

Accepted Answer

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)  competitive position, or amount of competition in the segment
E)  simplicity and cost of assigning potential buyers to segmentsF) None of the above
G) B) and E)

Question 9

Neilsen Claritas' PRIZM is used to classify every household into one of 66 demographical and __________ distinct neighborhood segments to identify lifestyles and purchase behavior within a defined geographic market area, such as zip code.

Accepted Answer

A)  psychographic
B)  behaviorally
C)  situational
D)  socioeconomic
E)  ethnographicalF) A) and C)
G) A) and E)

Question 10

It 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)  is identical in structure to a competitor's target segment.
D)  would require entry in a global marketplace.
E)  has a growth potential that would require increasing the current workforce.F) B) and D)
G) D) and E)

Question 11

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 __________ to reduce the number of marketing actions.

Accepted Answer

A)  increase the advertising budget
B)  limit the product offerings
C)  family brand their products
D)  combine segments
E)  discontinue offering the good or serviceF) A) and B)
G) C) and D)

Question 12

Humility, humor, and honesty in relationships are all examples of Zappos' __________.

Accepted Answer

A)  profile of the target market for teachers
B)  profile of the target market for nurses
C)  ten core values for Zappos employees
D)  qualities required from Zappos suppliers
E)  qualities required from Zappos retailersF) B) and D)
G) C) and E)

Question 13

Each cell of the market-product grid shows __________.

Accepted Answer

A)  total market share
B)  estimated market size
C)  investment required to reach the market
D)  potential risks over potential profits
E)  estimated profit marginF) A) and E)
G) A) and D)

Question 14

One marketing action that can be taken to sell a single product or service to multiple market segments is

Accepted Answer

A)  develop and produce another version of the product.
B)  manufacture products that appeal to different markets.
C)  develop separate promotional campaigns.
D)  purchase another firm that has additional products that would appeal to multiple markets.
E)  issue stock used for additional research and development for improved products.F) C) and D)
G) A) and C)

Question 15

The 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 Wal-Mart.This is an example of

Accepted Answer

A)  mass customization.
B)  one product and multiple market segments.
C)  price discrimination.
D)  a "Tiffany/Wal-Mart" strategy.
E)  psychographic market segmentation.F) A) and B)
G) All of the above

Question 16

According to Tony Hsieh, CEO of Zappos, the greatest amount of time is spent

Accepted Answer

A)  seeking out new and unusual styles of shoes from all over the world.
B)  improving the Web site to make it faster, more interesting, and fun.
C)  seeking out new markets that will go beyond the Internet.
D)  finding the fastest and least expensive modes of delivery for their product.
E)  finding new and improved ways to improve customer-service levels.F) A) and C)
G) B) and C)

Question 17

A graph displaying consumers' perceptions of product attributes in two dimensions is referred to as a

Accepted Answer

A)  payoff table.
B)  growth matrix.
C)  market-product grid.
D)  perceptual map.
E)  consumer preference matrix.F) A) and B)
G) A) and E)

Question 18

Kellogg's different types of cereals, each targeted at a different type of user, are an example of multiple products aimed at multiple markets.Manufacturing these different cereals is clearly more expensive than producing one, but seems worthwhile if it serves customers' needs better, doesn't reduce quality or increase price, and

Accepted Answer

A)  conforms to all FDA guidelines.
B)  creates economy of scale.
C)  decreases the cost of the physical plant.
D)  stabilizes the sales revenues and profits.
E)  adds to the manufacturer's sales revenues and profits.F) A) and C)
G) A) and E)

Question 19

Explain the difference between marketing synergies and product synergies.

Accepted Answer

Marketing synergies run horizontally acr...

Question 20

When Procter & Gamble introduced Crest toothpaste, the first fluoride toothpaste, it was intended for use by children and was therefore given a child-appealing bubblegum flavor.Sometime later the same basic formula was given a fresh, minty flavor to appeal to adults.What is this marketing strategy called?

Accepted Answer

A)  product sampling
B)  product extrapolation
C)  product differentiation
D)  usage segmentation
E)  psychographic segmentationF) A) and D)
G) C) and E)

Exam 9: Market Segmentation, Targeting, and Positioning

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

Correct Answer
verified

One marketing action that can be taken to sell a single product or service to multiple market segments is

Correct Answer
verified

FIGURE 9-4 -Figure 9-4 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.Sending out coupons for "10 percent off all purchases between 2:00 PM and 4:30 PM" during fall term would be especially targeted at potential

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Each cell of the market-product grid shows __________.

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

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, is referred to as __________.

Correct Answer
verified

The process of segmenting a market and selecting specific segments as targets is the link between the various buyers' needs and

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Explain the difference between marketing synergies and product synergies.

Correct Answer
verified
Marketing synergies run horizontally acr...
View Answer

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 __________ to reduce the number of marketing actions.

Correct Answer
verified

Neilsen Claritas' PRIZM is used to classify every household into one of 66 demographical and __________ distinct neighborhood segments to identify lifestyles and purchase behavior within a defined geographic market area, such as zip code.

Correct Answer
verified

The 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 Wal-Mart.This is an example of

Correct Answer
verified

A graph displaying consumers' perceptions of product attributes in two dimensions is referred to as a

Correct Answer
verified

When 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

Humility, humor, and honesty in relationships are all examples of Zappos' __________.

Correct Answer
verified

According to Tony Hsieh, CEO of Zappos, the greatest amount of time is spent

Correct Answer
verified

Exam 9: Market Segmentation, Targeting, and Positioning

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

Correct AnswerverifiedShow Answer

One marketing action that can be taken to sell a single product or service to multiple market segments is

Correct AnswerverifiedShow Answer

FIGURE 9-4 -Figure 9-4 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.Sending out coupons for "10 percent off all purchases between 2:00 PM and 4:30 PM" during fall term would be especially targeted at potential

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Each cell of the market-product grid shows __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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, is referred to as __________.

Correct AnswerverifiedShow Answer

The process of segmenting a market and selecting specific segments as targets is the link between the various buyers' needs and

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Explain the difference between marketing synergies and product synergies.

Correct AnswerverifiedMarketing synergies run horizontally acr...View AnswerShow Answer

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 __________ to reduce the number of marketing actions.

Correct AnswerverifiedShow Answer

Neilsen Claritas' PRIZM is used to classify every household into one of 66 demographical and __________ distinct neighborhood segments to identify lifestyles and purchase behavior within a defined geographic market area, such as zip code.

Correct AnswerverifiedShow Answer

The 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 Wal-Mart.This is an example of

Correct AnswerverifiedShow Answer

A graph displaying consumers' perceptions of product attributes in two dimensions is referred to as a

Correct AnswerverifiedShow Answer

When 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

Humility, humor, and honesty in relationships are all examples of Zappos' __________.

Correct AnswerverifiedShow Answer

According to Tony Hsieh, CEO of Zappos, the greatest amount of time is spent

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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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Marketing synergies run horizontally acr...
View Answer

Correct Answer
verified

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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