Question 1

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 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 segmentsF) D) and E)
G) A) and D)

Question 2

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.F) A) and B)
G) D) and E)

Question 3

Usage rate refers to

Accepted Answer

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

Question 4

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 segmentationF) None of the above
G) A) and E)

Question 5

Figure 9-11
 
-To effectively position a product or brand,companies take four steps,including which of these?

Accepted Answer

A)  decide whether to keep or delete the market segment that your product offering targets
B)  identify the key differentiators for competitors' brands
C)  discover how target customers rate a company's product or brand on important attributes
D)  create a marketing plan based on customers' perceptions
E)  identify market niches that were not selected during the market segmentation processF) D) and E)
G) A) and B)

Question 6

When considering the quick-service restaurant competition,it will be most important for Wendy's to consider not only the offerings of Burger King,McDonald's,Five Guys,and other hamburger chains but also the

Accepted Answer

A)  meals at golf and country clubs.
B)  dormitory meal plans at surrounding colleges and universities.
C)  items for sale at gas stations and convenience stores.
D)  local farmer's markets that sell produce.
E)  nearly every food item sold at local grocery stores.F) None of the above
G) D) and E)

Question 7

Describe the market segmentation process.

Accepted Answer

Market segmentation first stresses the i...

Question 8

Head-to-head positioning requires a product to

Accepted Answer

A)  compete with products from competitors of the same size and country of origin.
B)  compete with competitors on similar product attributes but in a different market.
C)  compete with competitors on similar product attributes in the same market.
D)  compete against very similar products from its own company.
E)  compete against a single competitor with an identical offering.F) A) and E)
G) B) and D)

Question 9

Behavioral segmentation may be based on

Accepted Answer

A)  lifestyles and demographics.
B)  retailer and wholesaler behaviors.
C)  geographic and demographic criteria.
D)  product features and user status.
E)  demand and supply.F) C) and E)
G) A) and D)

Question 10

A market-product grid is a

Accepted Answer

A)  visual representation of all products offered within a specific product class.
B)  framework used to compare the relative market share of one firm's product offerings to those of its competitors.
C)  technique that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.
D)  framework used to relate the market segments of potential buyers to products offered or potential marketing actions by an organization.
E)  technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products.F) C) and D)
G) B) and C)

Question 11

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) B) and C)
G) D) and E)

Question 12

The best segmentation approach is the one that

Accepted Answer

A)  makes it easiest to reach the segment.
B)  maximizes the opportunity for future profit and ROI.
C)  recognizes different needs of buyers among different segments.
D)  recognizes similarities of needs of potential buyers within a segment.
E)  is simplest and least costly in assigning potential buyers to segments.F) A) and B)
G) D) and E)

Question 13

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

Accepted Answer

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

Question 14

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 customizationF) A) and D)
G) A) and B)

Question 15

Many companies have cut travel budgets so that fewer businesspeople are authorized to fly first class.Despite the shrinking pool of business-class travelers,British Airways has grown market share for its trans-Atlantic business class by offering greater comfort.Promotions to frequent fliers stress that passengers can sleep in fully reclining seats and arrive refreshed to carry out a full day's schedule.The segmentation strategy of British Airways is an example of

Accepted Answer

A)  life stage segmentation.
B)  geographic segmentation.
C)  social class segmentation.
D)  behavioral segmentation.
E)  psychographic segmentation.F) C) and D)
G) None of the above

Question 16

What is market segmentation and why is it important?

Accepted Answer

People have different needs and wants,ev...

Question 17

During its market segmentation process for the Nike LeBron 15 basketball shoe,which sells for more than $185 a pair,Nike decided to concentrate on affluent teens rather than members of high school basketball teams.This is an example of

Accepted Answer

A)  selecting target market segments to reach.
B)  forming products to be sold into groups.
C)  developing a market-product grid and estimating size of markets.
D)  taking marketing actions to reach target markets.
E)  forming prospective buyers into segments.F) A) and C)
G) D) and E)

Question 18

Tony Hsieh invested in the company Zappos and

Accepted Answer

A)  immediately changed its product mix.
B)  helped to develop its segmentation strategy.
C)  focused on value-oriented customers.
D)  focused on unknown brands.
E)  helped to shift to a more transactional focus.F) A) and E)
G) A) and D)

Question 19

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

Question 20

Four general categories are used to segment consumer markets,one of which is

Accepted Answer

A)  supplier segmentation.
B)  demand segmentation.
C)  regional segmentation.
D)  behavioral segmentation.
E)  product segmentation.F) A) and E)
G) A) and B)

Exam 9: Market Segmentation, targeting, and Positioning

The best segmentation approach is the one that

Correct Answer
verified

During its market segmentation process for the Nike LeBron 15 basketball shoe,which sells for more than $185 a pair,Nike decided to concentrate on affluent teens rather than members of high school basketball teams.This is an example of

Correct Answer
verified

Figure 9-11 -To effectively position a product or brand,companies take four steps,including which of these?

Correct Answer
verified

Describe the market segmentation process.

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

Usage rate refers to

Correct Answer
verified

Four general categories are used to segment consumer markets,one of which is

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

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

Tony Hsieh invested in the company Zappos and

Correct Answer
verified

Correct Answer
verified

All of the following are market segmentation strategies except which?

Correct Answer
verified

When considering the quick-service restaurant competition,it will be most important for Wendy's to consider not only the offerings of Burger King,McDonald's,Five Guys,and other hamburger chains but also the

Correct Answer
verified

What is market segmentation and why is it important?

Correct Answer
verified
People have different needs and wants,ev...
View Answer

Behavioral segmentation may be based on

Correct Answer
verified

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

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

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

Correct Answer
verified

Head-to-head positioning requires a product to

Correct Answer
verified

A market-product grid is a

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

Exam 9: Market Segmentation, targeting, and Positioning

The best segmentation approach is the one that

Correct AnswerverifiedShow Answer

During its market segmentation process for the Nike LeBron 15 basketball shoe,which sells for more than $185 a pair,Nike decided to concentrate on affluent teens rather than members of high school basketball teams.This is an example of

Correct AnswerverifiedShow Answer

Figure 9-11 -To effectively position a product or brand,companies take four steps,including which of these?

Correct AnswerverifiedShow Answer

Describe the market segmentation process.

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

Usage rate refers to

Correct AnswerverifiedShow Answer

Four general categories are used to segment consumer markets,one of which is

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

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

Tony Hsieh invested in the company Zappos and

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of the following are market segmentation strategies except which?

Correct AnswerverifiedShow Answer

When considering the quick-service restaurant competition,it will be most important for Wendy's to consider not only the offerings of Burger King,McDonald's,Five Guys,and other hamburger chains but also the

Correct AnswerverifiedShow Answer

What is market segmentation and why is it important?

Correct AnswerverifiedPeople have different needs and wants,ev...View AnswerShow Answer

Behavioral segmentation may be based on

Correct AnswerverifiedShow Answer

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

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

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

Correct AnswerverifiedShow Answer

Head-to-head positioning requires a product to

Correct AnswerverifiedShow Answer

A market-product grid is a

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

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Market segmentation first stresses the i...
View Answer

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People have different needs and wants,ev...
View Answer

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