Question 1

All of the following are market segmentation strategies except which?

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

Question 2

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 3

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 4

Variables that are based on some objective physical (gender,ethnicity) ,measurable (age,income) ,or other classification attribute (occupation) of prospective customers are used in which segmentation basis?

Accepted Answer

A)   personality
B)   usage
C)   needs
D)   demographic
E)   behavioral

Question 5

Describe the market segmentation process.

Accepted Answer

Market segmentation first stresses the i...

Question 6

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 one,but is worthwhile if it

Accepted Answer

A)   allows for new product testing.
B)   creates economy of scale.
C)   doesn't reduce quality or increase price.
D)   cannibalizes the earliest products.
E)   stabilizes the sales revenues and profits.

Question 7

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 written content 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)   Ford manufactures SUVs for those who wish to carry lots of people and pickup trucks for those who wish to carry lots of cargo.
D)   Arm and Hammer Baking Soda can be used for baking and to remove odors from refrigerators and cat litter boxes.
E)   Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.

Question 8

Best Foods Co.is considering expanding beyond the regional market segments now served by its Hellmann's mayonnaise.One criterion management wants to use to evaluate potential new geographic market segments is whether additional real estate must be purchased or leased to serve new segments.This is an example of which criterion used to select target market segments?

Accepted Answer

A)   Best Foods' competitive position in the segment
B)   Best Foods' product groupings
C)   expected growth of the market segment
D)   size of the market segment
E)   cost of reaching the segment

Question 9

Criteria for forming segments involve both similarities and differences.In terms of the needs of buyers,the similarities must be __________ a segment,and the differences must be __________ segments.

Accepted Answer

A)   between; among
B)   throughout; absent in
C)   within; among
D)   absent in; throughout
E)   among; across

Question 10

About 3 percent of the population has some degree of allergic reaction,usually mild,to preservatives used in salad bars.Restaurants might consider people with these allergies as a separate segment.To implement this segmentation strategy,restaurants would have to prepare a regular salad bar and a special salad bar for the allergies segment.This multiple product,multiple market segment strategy would have the greatest difficulty meeting which of the following criteria used to form market segments?

Accepted Answer

A)   different needs of buyers among different segments
B)   similarity of needs of potential buyers within a segment
C)   simplicity and cost-effectiveness of assigning potential buyers to segments
D)   potential for increased profit and ROI
E)   potential of a marketing action to reach a segment

Question 11

Determining the size of specific markets within 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 group into meaningful categories.
C)   how to implement a harvesting strategy.
D)   which product groupings to offer.
E)   which products to reposition.

Question 12

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 a(n)

Accepted Answer

A)   awareness matrix.
B)   growth-share matrix.
C)   market-product grid.
D)   perceptual map.
E)   product differentiation chart.

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)   trade area segmentation.
D)   MSA segmentation.
E)   NAICS code segmentation.

Question 14

The quantity consumed or patronage (store visits) during a specific period is referred to as

Accepted Answer

A)   usage rate.
B)   purchase metric.
C)   consumption index.
D)   consumption rate.
E)   demand amount.

Question 15

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

Accepted Answer

A)   industry standards.
B)   government regulations.
C)   top-level management.
D)   controllable environmental factors.
E)   the organization's marketing program.

Question 16

In the sneaker business,Heelys practiced __________ positioning when it introduced a line of Heelys sneakers that came with an imbedded,detachable wheel in the shoe's heel marketed to young teens.

Accepted Answer

A)   head-to-head
B)   parallel market
C)   reflexive
D)   revised
E)   differentiation

Question 17

Which of the following statements about market segmentation for organizational markets is most accurate?

Accepted Answer

A)   Criteria for segmenting markets are the same whether the market is composed of consumers or organizations.
B)   Both consumer markets and organizational markets use demographic, geographic, and behavioral bases to segment markets.
C)   Psychographic criteria are just as important in segmenting organizational markets as they are in segmenting consumer markets.
D)   Consumer markets use market segmentation criteria while organizational markets do not.
E)   The greatest difference in market segmentation strategies between consumer and organizational markets is the number of employees employed in the segmentation process.

Question 18

You can go to your nearest Hallmark card store and buy a birthday greeting card for a friend and pay .50.Or you can buy a Hallmark card from its new
$0) 99 line of greeting cards,made with lesser-quality materials but just as sentimental,sold at Barnes & Noble bookstores.This is an example of

Accepted Answer

A)   mass customization.
B)   organizational synergy.
C)   one product and multiple market segments.
D)   price discrimination.
E)   a Tiffany/Walmart strategy.

Question 19

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

Accepted Answer

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

Question 20

There are five steps involved in segmenting and targeting markets.What should a marketer do after he or she has grouped products to be sold into categories?

Accepted Answer

A)   Create product groupings.
B)   Identify market needs.
C)   Take marketing actions to reach target markets.
D)   Develop a market-product grid and estimate size of markets.
E)   Form prospective buyers into market segments.

Exam 8: Market Segmentation, targeting, and Positioning

Correct Answer
verified

There are five steps involved in segmenting and targeting markets.What should a marketer do after he or she has grouped products to be sold into categories?

Correct Answer
verified

The quantity consumed or patronage (store visits) during a specific period is referred to as

Correct Answer
verified

You can go to your nearest Hallmark card store and buy a birthday greeting card for a friend and pay .50.Or you can buy a Hallmark card from its new $0) 99 line of greeting cards,made with lesser-quality materials but just as sentimental,sold at Barnes & Noble bookstores.This is an example of

Correct Answer
verified

Variables that are based on some objective physical (gender,ethnicity) ,measurable (age,income) ,or other classification attribute (occupation) of prospective customers are used in which segmentation basis?

Correct Answer
verified

All of the following are market segmentation strategies except which?

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Describe the market segmentation process.

Correct Answer
verified
Market segmentation first stresses the i...
View Answer

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

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 a(n)

Correct Answer
verified

Criteria for forming segments involve both similarities and differences.In terms of the needs of buyers,the similarities must be a segment,and the differences must be segments.

Correct Answer
verified

Which of the following statements about market segmentation for organizational markets is most accurate?

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

In the sneaker business,Heelys practiced __________ positioning when it introduced a line of Heelys sneakers that came with an imbedded,detachable wheel in the shoe's heel marketed to young teens.

Correct Answer
verified

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

Correct Answer
verified

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 one,but is worthwhile if it

Correct Answer
verified

Exam 8: Market Segmentation, targeting, and Positioning

Correct AnswerverifiedShow Answer

There are five steps involved in segmenting and targeting markets.What should a marketer do after he or she has grouped products to be sold into categories?

Correct AnswerverifiedShow Answer

The quantity consumed or patronage (store visits) during a specific period is referred to as

Correct AnswerverifiedShow Answer

You can go to your nearest Hallmark card store and buy a birthday greeting card for a friend and pay .50.Or you can buy a Hallmark card from its new $0) 99 line of greeting cards,made with lesser-quality materials but just as sentimental,sold at Barnes & Noble bookstores.This is an example of

Correct AnswerverifiedShow Answer

Variables that are based on some objective physical (gender,ethnicity) ,measurable (age,income) ,or other classification attribute (occupation) of prospective customers are used in which segmentation basis?

Correct AnswerverifiedShow Answer

All of the following are market segmentation strategies except which?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Describe the market segmentation process.

Correct AnswerverifiedMarket segmentation first stresses the i...View AnswerShow Answer

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

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 a(n)

Correct AnswerverifiedShow Answer

Criteria for forming segments involve both similarities and differences.In terms of the needs of buyers,the similarities must be __________ a segment,and the differences must be __________ segments.

Correct AnswerverifiedShow Answer

Which of the following statements about market segmentation for organizational markets is most accurate?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In the sneaker business,Heelys practiced __________ positioning when it introduced a line of Heelys sneakers that came with an imbedded,detachable wheel in the shoe's heel marketed to young teens.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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 one,but is worthwhile if it

Correct AnswerverifiedShow Answer

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Market segmentation first stresses the i...
View Answer

Correct Answer
verified

Correct Answer
verified

Criteria for forming segments involve both similarities and differences.In terms of the needs of buyers,the similarities must be a segment,and the differences must be segments.

Correct Answer
verified

Correct Answer
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