Question 1

Universal Concerts wants to bring a series of music concerts to Canada next year. In general, western Canadians prefer country music while eastern Canadians prefer rock. In fact, a country music event in eastern Canada is very likely to have lots of empty seats. To maximize revenue, Universal Concerts should segment its Canadian market according to

Accepted Answer

A)   geographic characteristics.
B)   demographic characteristics.
C)   music format characteristics.
D)   behavioral characteristics.
E)   psychographic characteristics.

Question 2

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

Accepted Answer

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.

Question 3

The final step in segmenting and targeting markets that links customer needs to marketing actions is to

Accepted Answer

A)   take marketing actions to reach target markets.
B)   group potential buyers into segments.
C)   select target markets.
D)   group products to be sold into categories.
E)   develop a market-product grid and estimate size of the overall market.

Question 4

ExxonMobil targets consumers that fill up their gas tanks more than once a week with its Chase Visa fuel card. Here, ExxonMobil is using which segmentation variable?

Accepted Answer

A)   needs
B)   lifestyle
C)   behavioral
D)   psychographic
E)   demographic

Question 5

The 80/20 rule is most closely related to which basis of segmentation?

Accepted Answer

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

Question 6

What are the criteria used to select target markets?

Accepted Answer

There are two different kinds of criteri...

Question 7

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.

Question 8

All of the following are criteria used for selecting target market segments except which?

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

Question 9

One advantage of a market-product grid is that it can be used to

Accepted Answer

A)   make cost-cutting decisions under conditions of uncertainty.
B)   screen many new-product ideas in order to select the one with the best long-run market potential.
C)   determine which target market segments to select and which product groupings to offer.
D)   select representative samples of consumers for marketing research studies.
E)   relate the product life cycle to consumer demand.

Question 10

Which of these is collected from consumers to develop a product's perceptual map?

Accepted Answer

A)   consumer judgments about the important attributes for a product or brand class
B)   a listing of all prospective brands and products
C)   managerial judgments about how consumers perceive products
D)   rank order of the ratings of an existing brand's preference relative to its competitors
E)   detailed explanations of why consumers make the choices they do

Question 11

All of the following are examples of increased customer value from organizational synergy except which?

Accepted Answer

A)   lower prices
B)   increased brand awareness
C)   more products
D)   improved distribution
E)   improved quality of existing products

Question 12

The Nielsen PRIZM lifestyle segmentation is based on the belief that "birds of a feather flock together." It combines ________ with a geographic component.

Accepted Answer

A)   situational segmentation
B)   socioeconomic segmentation
C)   demographic segmentation
D)   psychographic segmentation
E)   behavioral segmentation

Question 13

If Wendy's customers are buying an eating experience, which of the following would make the most sense for grouping the products Wendy's sells?

Accepted Answer

A)   grouping by caloric intake
B)   grouping by price
C)   grouping by meal occasion
D)   grouping by usage rate
E)   grouping by level of uniqueness

Question 14

The process of segmenting a market and selecting specific segments as targets is the link between ________ and the organization's marketing program.

Accepted Answer

A)   self-regulatory industry standards
B)   government regulations
C)   top-level management
D)   buyers' or market needs
E)   controllable environmental factors

Question 15

Differentiation positioning requires a product to

Accepted Answer

A)   emphasize unique product attributes to compete directly with competitors.
B)   compete directly with competitors on similar product attributes in the same target market.
C)   compete with competitors on similar product attributes but in a different market.
D)   seek a less-competitive, smaller market niche in which to locate a brand.
E)   develop marketing actions to move a product or brand to an ideal position.

Question 16

College dorm residents frequently want to keep and prepare their own food and snacks to save money or have a late-night snack. However, their dorm rooms are often woefully short of space. MicroFridge marketers understand this and offer a single appliance with small refrigerator, freezer, microwave oven, smoke sensor, and a charging station for laptops and mobile phones targeted to these students. MicroFridge is most likely using which basis of segmentation?

Accepted Answer

A)   sociocultural segmentation
B)   psychographic segmentation
C)   geographic segmentation
D)   behavioral segmentation
E)   socioeconomic segmentation

Question 17

Criteria for forming segments involve both similarities and differences. Which of the following statements is most accurate?

Accepted Answer

A)   Within a segment, the needs of potential buyers should be different; among segments, the needs of buyers should be similar.
B)   Within a segment, the needs of potential buyers should be similar; among segments, the needs of buyers should be different.
C)   The needs of buyers should be different, both between segments and within segments.
D)   The needs of buyers should be the same, both between segments and within segments.
E)   If there are any differences at all, you should forgo any segmentation.

Question 18

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 segmentation variable might Evergreen use to segment the market?

Accepted Answer

A)   NAICS sector (industry) 
B)   number of locations
C)   who buys, such as individual buyer or buying groups
D)   metropolitan statistical area
E)   number of employees

Question 19

Recently Colgate-Palmolive introduced Colgate Enamel Health toothpaste, one that claims to replenish and polish tooth enamel, the hard outer layer of the tooth that provides a protective barrier to inner layers. This new formula helps to separate the Colgate product from its top competitors, such as Crest. What marketing strategy did Colgate-Palmolive use here?

Accepted Answer

A)   product differentiation
B)   product segmentation
C)   market expansion
D)   usage segmentation
E)   psychographic segmentation

Question 20

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

Accepted Answer

A)   develop and produce another version of the product.
B)   manufacture products that appeal to different markets.
C)   develop a new channel of distribution.
D)   purchase another firm that has additional products that would appeal to multiple markets.
E)   issue stock to fund additional research and development for new products.

Exam 8: Market Segmentation, Targeting, and Positioning

Correct Answer
verified

All of the following are criteria used for selecting target market segments except which?

Correct Answer
verified

All of the following are examples of increased customer value from organizational synergy except which?

Correct Answer
verified

The process of segmenting a market and selecting specific segments as targets is the link between ________ and the organization's marketing program.

Correct Answer
verified

One advantage of a market-product grid is that it can be used to

Correct Answer
verified

Correct Answer
verified

Which of these is collected from consumers to develop a product's perceptual map?

Correct Answer
verified

Criteria for forming segments involve both similarities and differences. Which of the following statements is most accurate?

Correct Answer
verified

ExxonMobil targets consumers that fill up their gas tanks more than once a week with its Chase Visa fuel card. Here, ExxonMobil is using which segmentation variable?

Correct Answer
verified

The final step in segmenting and targeting markets that links customer needs to marketing actions is to

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

What are the criteria used to select target markets?

Correct Answer
verified
There are two different kinds of criteri...
View Answer

The 80/20 rule is most closely related to which basis of segmentation?

Correct Answer
verified

The Nielsen PRIZM lifestyle segmentation is based on the belief that "birds of a feather flock together." It combines ________ with a geographic component.

Correct Answer
verified

Differentiation positioning requires a product to

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

If Wendy's customers are buying an eating experience, which of the following would make the most sense for grouping the products Wendy's sells?

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

Exam 8: Market Segmentation, Targeting, and Positioning

Correct AnswerverifiedShow Answer

All of the following are criteria used for selecting target market segments except which?

Correct AnswerverifiedShow Answer

All of the following are examples of increased customer value from organizational synergy except which?

Correct AnswerverifiedShow Answer

The process of segmenting a market and selecting specific segments as targets is the link between ________ and the organization's marketing program.

Correct AnswerverifiedShow Answer

One advantage of a market-product grid is that it can be used to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of these is collected from consumers to develop a product's perceptual map?

Correct AnswerverifiedShow Answer

Criteria for forming segments involve both similarities and differences. Which of the following statements is most accurate?

Correct AnswerverifiedShow Answer

ExxonMobil targets consumers that fill up their gas tanks more than once a week with its Chase Visa fuel card. Here, ExxonMobil is using which segmentation variable?

Correct AnswerverifiedShow Answer

The final step in segmenting and targeting markets that links customer needs to marketing actions is to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

What are the criteria used to select target markets?

Correct AnswerverifiedThere are two different kinds of criteri...View AnswerShow Answer

The 80/20 rule is most closely related to which basis of segmentation?

Correct AnswerverifiedShow Answer

The Nielsen PRIZM lifestyle segmentation is based on the belief that "birds of a feather flock together." It combines ________ with a geographic component.

Correct AnswerverifiedShow Answer

Differentiation positioning requires a product to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

If Wendy's customers are buying an eating experience, which of the following would make the most sense for grouping the products Wendy's sells?

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

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Correct Answer
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Correct Answer
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Correct Answer
verified
There are two different kinds of criteri...
View Answer

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Correct Answer
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Correct Answer
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