Question 1

Up & Away Flying Corporation recently began manufacturing private helicopters.If they have a limited advertising budget,concentrated marketing would be the ideal marketing strategy for this firm.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following racial/ethnic minority groups is an attractive target for marketers because of their fastest-growing income?

Accepted Answer

A)   Hispanics
B)   Native Americans
C)   African Americans
D)   Asian AmericansE) A) and B)
F) A) and C)

Question 3

The "empty nest" stage in the family lifecycle includes:

Accepted Answer

A)   young unmarried people.
B)   married couples whose children are living on their own.
C)   married couples with children in their growing years.
D)   newly married couples without children.E) All of the above
F) A) and B)

Question 4

Ford Motor Company surveyed 10,000 customers to analyze their needs and preferences in automobiles.At the end of the survey,respondents were asked to provide demographic information,including age.Responses concerning preferences were strikingly similar for each group within a specific five-year age range.This result is an example of the _____ effect.

Accepted Answer

A)   income
B)   life cycle
C)   cohort
D)   Hafner'sE) A) and B)
F) A) and C)

Question 5

Since rubber purchased by Goodyear is utilized to manufacture tires that are ultimately used by consumers for their automobiles,rubber is a consumer product for Goodyear.

Accepted Answer

A) True 
 B)False

Question 6

_____ are goods and services purchased for use either directly or indirectly in the production of other goods and services for resale.

Accepted Answer

A)   Impulse goods
B)   Shopping goods
C)   Business products
D)   Unsought productsE) A) and B)
F) A) and D)

Question 7

An undifferentiated marketing strategy:

Accepted Answer

A)   involves developing different marketing mixes for different segments.
B)   benefits from the control and efficiency of short production runs.
C)   is also known as a concentrated marketing strategy.
D)   is efficient from a production point of view.E) A) and B)
F) A) and C)

Question 8

Which of the following factors sets the upper limit on demand generated by a particular market segment?

Accepted Answer

A)   Market potential of the segment under analysis
B)   Psychographic characteristics of the population in the segment
C)   Geographic dispersion of potential customers in the market segment
D)   Lifestyle characteristics of the population in the segmentE) A) and D)
F) All of the above

Question 9

A consumer goods company segments its markets on the basis of purchase patterns of their customers.The company groups its consumers who regularly buy their product into heavy,moderate,and light users,and nonusers.This segmentation approach is an example of _____.

Accepted Answer

A)   segmentation by benefits sought
B)   geographic segmentation
C)   segmentation by usage rates
D)   distributive segmentationE) A) and B)
F) B) and C)

Question 10

Describe the four stages in the market segmentation process.

Accepted Answer

Firms may use a management-driven method...

Question 11

_____ is a strategy that focuses on producing a single product and marketing it to all customers.

Accepted Answer

A)  target market
B)  market segmentation
C)  cohort effect
D)  primary metropolitan statistical area
E)  differentiated marketingF) concentrated marketingG) micromarketingH) positioning mapI) VALSJ) AIO statementK) core regionL) consumer productM) demographic segmentationN) Praedo's lawO) psychographic segmentationP) geographic information systemsQ) positioningR) geographic segmentationS) business productT) mass marketingU) D) and L)
V) None of the above

Question 12

The lumber that a carpenter purchases to make a table for a customer can be classified as a(n) :

Accepted Answer

A)   impulse product.
B)   business product.
C)   consumer good.
D)   final product.E) C) and D)
F) A) and B)

Question 13

A(n) _____ is a tool that helps marketers place products in a market by graphically illustrating consumers' perceptions of competing products within an industry.

Accepted Answer

A)  target market
B)  market segmentation
C)  cohort effect
D)  primary metropolitan statistical area
E)  differentiated marketingF) concentrated marketingG) micromarketingH) positioning mapI) VALSJ) AIO statementK) core regionL) consumer productM) demographic segmentationN) Praedo's lawO) psychographic segmentationP) geographic information systemsQ) positioningR) geographic segmentationS) business productT) mass marketingU) G) and T)
V) K) and N)

Question 14

An urban area that include two or more primary metropolitan statistical areas (PMSA) is called a _____.

Accepted Answer

A)   metropolitan statistical area (MS
A)  
B)   core based micropolitan region (CBMR) 
C)   micropolitan statistical area (µS
A)  
D)   consolidated metropolitan statistical area (CMS
A)  E) B) and D)
F) C) and D)

Question 15

A _____ marketing strategy focuses on producing several products and pricing,promoting,and distributing them with several marketing mixes designed to satisfy smaller segments.

Accepted Answer

A)   mass
B)   differentiated
C)   societal
D)   demographicE) C) and D)
F) B) and C)

Question 16

Starbucks marketing itself as "Premium coffee" is an example of a positioning strategy that is based on _____.

Accepted Answer

A)   product class
B)   product users
C)   product life cycle stage
D)   product homogeneityE) A) and B)
F) None of the above

Question 17

The division of the total market into smaller,relatively homogeneous groups is called _____.

Accepted Answer

A)  target market
B)  market segmentation
C)  cohort effect
D)  primary metropolitan statistical area
E)  differentiated marketingF) concentrated marketingG) micromarketingH) positioning mapI) VALSJ) AIO statementK) core regionL) consumer productM) demographic segmentationN) Praedo's lawO) psychographic segmentationP) geographic information systemsQ) positioningR) geographic segmentationS) business productT) mass marketingU) K) and S)
V) D) and J)

Question 18

"Intimates" is a segment of consumers identified by Roper and it consists of those people who value:

Accepted Answer

A)   professional and material goals.
B)   family and personal relationships.
C)   duty and tradition.
D)   knowledge and education.E) B) and C)
F) A) and D)

Question 19

_____ defines consumer groups according to variables such as gender,age,income,occupation,education,sexual orientation,household size,and stage in the family lifecycle.

Accepted Answer

A)   Geographic segmentation
B)   End-use segmentation
C)   Product-based segmentation
D)   Demographic segmentationE) A) and C)
F) A) and D)

Question 20

According to Engel's laws,the percentage of income spent on food increases with increased income.

Accepted Answer

A) True 
 B)False

Exam 9: Market Segmentation, Targeting, and Positioning

The division of the total market into smaller,relatively homogeneous groups is called _____.

Correct Answer
verified

Correct Answer
verified

_____ are goods and services purchased for use either directly or indirectly in the production of other goods and services for resale.

Correct Answer
verified

Up & Away Flying Corporation recently began manufacturing private helicopters.If they have a limited advertising budget,concentrated marketing would be the ideal marketing strategy for this firm.

Correct Answer
verified

Starbucks marketing itself as "Premium coffee" is an example of a positioning strategy that is based on _____.

Correct Answer
verified

A _____ marketing strategy focuses on producing several products and pricing,promoting,and distributing them with several marketing mixes designed to satisfy smaller segments.

Correct Answer
verified

Describe the four stages in the market segmentation process.

Correct Answer
verified
Firms may use a management-driven method...
View Answer

Which of the following racial/ethnic minority groups is an attractive target for marketers because of their fastest-growing income?

Correct Answer
verified

_____ defines consumer groups according to variables such as gender,age,income,occupation,education,sexual orientation,household size,and stage in the family lifecycle.

Correct Answer
verified

An urban area that include two or more primary metropolitan statistical areas (PMSA) is called a _____.

Correct Answer
verified

"Intimates" is a segment of consumers identified by Roper and it consists of those people who value:

Correct Answer
verified

The "empty nest" stage in the family lifecycle includes:

Correct Answer
verified

An undifferentiated marketing strategy:

Correct Answer
verified

Which of the following factors sets the upper limit on demand generated by a particular market segment?

Correct Answer
verified

A(n) _____ is a tool that helps marketers place products in a market by graphically illustrating consumers' perceptions of competing products within an industry.

Correct Answer
verified

_____ is a strategy that focuses on producing a single product and marketing it to all customers.

Correct Answer
verified

Since rubber purchased by Goodyear is utilized to manufacture tires that are ultimately used by consumers for their automobiles,rubber is a consumer product for Goodyear.

Correct Answer
verified

According to Engel's laws,the percentage of income spent on food increases with increased income.

Correct Answer
verified

A consumer goods company segments its markets on the basis of purchase patterns of their customers.The company groups its consumers who regularly buy their product into heavy,moderate,and light users,and nonusers.This segmentation approach is an example of _____.

Correct Answer
verified

The lumber that a carpenter purchases to make a table for a customer can be classified as a(n) :

Correct Answer
verified

Exam 9: Market Segmentation, Targeting, and Positioning

The division of the total market into smaller,relatively homogeneous groups is called _____.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

_____ are goods and services purchased for use either directly or indirectly in the production of other goods and services for resale.

Correct AnswerverifiedShow Answer

Up & Away Flying Corporation recently began manufacturing private helicopters.If they have a limited advertising budget,concentrated marketing would be the ideal marketing strategy for this firm.

Correct AnswerverifiedShow Answer

Starbucks marketing itself as "Premium coffee" is an example of a positioning strategy that is based on _____.

Correct AnswerverifiedShow Answer

A _____ marketing strategy focuses on producing several products and pricing,promoting,and distributing them with several marketing mixes designed to satisfy smaller segments.

Correct AnswerverifiedShow Answer

Describe the four stages in the market segmentation process.

Correct AnswerverifiedFirms may use a management-driven method...View AnswerShow Answer

Which of the following racial/ethnic minority groups is an attractive target for marketers because of their fastest-growing income?

Correct AnswerverifiedShow Answer

_____ defines consumer groups according to variables such as gender,age,income,occupation,education,sexual orientation,household size,and stage in the family lifecycle.

Correct AnswerverifiedShow Answer

An urban area that include two or more primary metropolitan statistical areas (PMSA) is called a _____.

Correct AnswerverifiedShow Answer

"Intimates" is a segment of consumers identified by Roper and it consists of those people who value:

Correct AnswerverifiedShow Answer

The "empty nest" stage in the family lifecycle includes:

Correct AnswerverifiedShow Answer

An undifferentiated marketing strategy:

Correct AnswerverifiedShow Answer

Which of the following factors sets the upper limit on demand generated by a particular market segment?

Correct AnswerverifiedShow Answer

A(n) _____ is a tool that helps marketers place products in a market by graphically illustrating consumers' perceptions of competing products within an industry.

Correct AnswerverifiedShow Answer

_____ is a strategy that focuses on producing a single product and marketing it to all customers.

Correct AnswerverifiedShow Answer

Since rubber purchased by Goodyear is utilized to manufacture tires that are ultimately used by consumers for their automobiles,rubber is a consumer product for Goodyear.

Correct AnswerverifiedShow Answer

According to Engel's laws,the percentage of income spent on food increases with increased income.

Correct AnswerverifiedShow Answer

A consumer goods company segments its markets on the basis of purchase patterns of their customers.The company groups its consumers who regularly buy their product into heavy,moderate,and light users,and nonusers.This segmentation approach is an example of _____.

Correct AnswerverifiedShow Answer

The lumber that a carpenter purchases to make a table for a customer can be classified as a(n) :

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Firms may use a management-driven method...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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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Correct Answer
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