Question 1

Segmentation based on some subjective mental or emotional attributes, aspirations, or needs of prospective customers is referred to as

Accepted Answer

A)  behavioral segmentation.
B)  affective segmentation.
C)  socioeconomic segmentation.
D)  psychographic segmentation.
E)  psychosocial segmentation.F) B) and D)
G) None of the above

Question 2

Nike employs a __________ strategy at its website, nikeid.com, which allows customers design a sneaker to their own personal specifications.

Accepted Answer

A)  product sampling
B)  product clustering
C)  mass customization
D)  usage segmentation
E)  psychographic segmentationF) B) and E)
G) B) and C)

Question 3

What are the three types of data needed from consumers to develop a perceptual map?

Accepted Answer

In determining a brand's position and th...

Question 4

More than half of all U.S. households are composed of only one or two persons, so Aunt Jemima offers one serving meals - such as its Ham & Egg Scramble and Oatmeal Pancakes. Aunt Jemima is using __________ as the basis to segment its market.

Accepted Answer

A)  usage rates
B)  usage patterns
C)  demographic characteristics
D)  behavior characteristics
E)  psychographic characteristicsF) B) and C)
G) C) and D)

Question 5

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

Question 6

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

Accepted Answer

Product differentiation involves a firm ...

Question 7

The second step in segmenting and targeting markets that link customer needs to marketing actions is to

Accepted Answer

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

Question 8

The purpose of the five key steps in segmenting and targeting markets is to

Accepted Answer

A)  identify competitors that provide similar products that satisfy a firm's customers' needs.
B)  provide guidance to reposition a firm's products.
C)  generate new products ideas for firms that are not growing in market share.
D)  link market needs of customers to the organization's marketing program.
E)  correlate directly to each of the five environmental forces.F) A) and D)
G) B) and E)

Question 9

Segmentation based on what product features are important to different customers is known as

Accepted Answer

A)  demographic segmentation.
B)  behavioral segmentation.
C)  psychographic segmentation.
D)  geographic segmentation.
E)  socioeconomic segmentation.F) B) and D)
G) C) and D)

Question 10

New Balance makes the Minimus line of shoes with a Vibram outsole and REVlite cushioning for those who want to "feel the trail." Its 1260v2 shoe incorporates Stabilicore technology to "deliver a plush, smooth, and stable ride." And its Made in America, top of the line, 990v3 traditional running/walking shoe uses a "premium pigskin upper with mesh inserts for breathability, a stability-enhancing ABZORB→ idsole, and ENCAP to promote a healthy gait." The strategy of appealing to different types of customers in this way is an example of

Accepted Answer

A)  mass customization.
B)  product definition.
C)  market segmentation.
D)  single chain marketing.
E)  market specific selection.F) A) and B)
G) All of the above

Question 11

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 D)
G) All of the above

Question 12

The market segmentation strategy known as frequency marketing focuses on

Accepted Answer

A)  trial.
B)  the average number of times a person in the target audience is exposed to an advertisement.
C)  consumption preferences.
D)  turnover.
E)  usage rateF) A) and E)
G) A) and C)

Question 13

To create a market-product grid for bed pillows, the most effective way to segment the market would be using

Accepted Answer

A)  the age of the sleeper: less than 18 years of age, 18 to 44 years of age, or 45 years and older.
B)  the sleeper's annual income: less than $25,000, $25,000 to $49,999, or $50,000 and over.
C)  the sleeper's gender: male or female.
D)  the time of sleep: day or night.
E)  how the sleeper sleeps: side, back, or stomach.F) C) and E)
G) B) and E)

Question 14

The Walt Disney Company carefully markets two distinct Winnie-the-Poohs; one is the original line-drawn figure on fine china sold at Nordstrom and the other is a cartoon-like Pooh on polyester bed sheets sold at Target. This is an example of

Accepted Answer

A)  mass customization.
B)  a Tiffany/Walmart strategy.
C)  one product and multiple market segments.
D)  price discrimination.
E)  psychographic market segmentation.F) D) and E)
G) None of the above

Question 15

A market-product grid is a framework to relate

Accepted Answer

A)  total estimated expenses for each product sold to each market segment.
B)  total anticipated revenue for each product-market segment combination.
C)  total anticipated profit for each product sold to each market segment.
D)  the market segments of current buyers to relative market share compared to the largest competitor.
E)  the market segments of potential buyers to products offered or potential marketing actions by an organization.F) A) and B)
G) A) and C)

Question 16

-In the United States, the Harry Potter series of books were often at the top of The New York Times fiction bestseller list. These books have been marketed by turns to preteen, teen, and adult readers around the world with creative marketing, including different book covers. Scholastic Press, the publisher of the Harry Potter books in the U.S., is using which of the following segmentation strategies?

Accepted Answer

A)  multiple products with one segment
B)  one product with one channel of distribution
C)  one product with multiple market segments
D)  one product with changes based on customer behavior
E)  multiple products with multiple segmentsF) A) and B)
G) A) and C)

Question 17

Cannibalization would mostly likely occur if

Accepted Answer

A)  Dell adds high-end speaker systems to its line.
B)  General Mills launches Caramel Crunch Cheerios.
C)  General Motors markets a motorcycle similar to the Can-Am Spyder Roadster 3-wheel bike.
D)  Pillsbury adds boxed sugar to its product mix.
E)  Procter & Gamble adds a new line of baby clothing to its Pamper's stable of products.F) A) and B)
G) C) and D)

Question 18

Todd Harris and Associates, a New York sales promotion agency, discovered from an analysis of its files that one-quarter (or 25 percent)  of its clients generated more than three-quarters (or 75 percent)  of its fees and commissions. This is an example of what classic concept?

Accepted Answer

A)  the two quarter gap
B)  the 80/20 rule
C)  the law of usage
D)  the 75/25 exchange
E)  Paul's LawF) A) and E)
G) B) and C)

Question 19

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Accepted Answer

A)  pay attention to marketing messages.
B)  respond similarly to a marketing action.
C)  be responsive to marketing research.
D)  use the same payment methods.
E)  comply with the organization's core values.F) B) and E)
G) A) and E)

Question 20

After establishing the market segments and product groupings on a market-product grid, the next step is to

Accepted Answer

A)  fill in the appropriate cells with precise statistical data from primary and/or secondary sources.
B)  estimate, with intelligent guesstimates as necessary, the market size for each cell using a simple scale, such as from zero to three.
C)  total the vertical columns to identify the greatest marketing synergies and efficiencies.
D)  total the horizontal rows to identify greatest operations/production synergies and efficiencies.
E)  identify a marketing action for every product-market combination in the grid.F) B) and E)
G) A) and B)

Exam 8: Market Segmentation, Targeting, and Positioning

The purpose of the five key steps in segmenting and targeting markets is to

Correct Answer
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Correct Answer
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More than half of all U.S. households are composed of only one or two persons, so Aunt Jemima offers one serving meals - such as its Ham & Egg Scramble and Oatmeal Pancakes. Aunt Jemima is using __________ as the basis to segment its market.

Correct Answer
verified

Segmentation based on what product features are important to different customers is known as

Correct Answer
verified

The market segmentation strategy known as frequency marketing focuses on

Correct Answer
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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

Nike employs a __________ strategy at its website, nikeid.com, which allows customers design a sneaker to their own personal specifications.

Correct Answer
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A market-product grid is a framework to relate

Correct Answer
verified

Todd Harris and Associates, a New York sales promotion agency, discovered from an analysis of its files that one-quarter (or 25 percent) of its clients generated more than three-quarters (or 75 percent) of its fees and commissions. This is an example of what classic concept?

Correct Answer
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What are the three types of data needed from consumers to develop a perceptual map?

Correct Answer
verified
In determining a brand's position and th...
View Answer

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

Correct Answer
verified
Product differentiation involves a firm ...
View Answer

The Walt Disney Company carefully markets two distinct Winnie-the-Poohs; one is the original line-drawn figure on fine china sold at Nordstrom and the other is a cartoon-like Pooh on polyester bed sheets sold at Target. This is an example of

Correct Answer
verified

After establishing the market segments and product groupings on a market-product grid, the next step is to

Correct Answer
verified

Segmentation based on some subjective mental or emotional attributes, aspirations, or needs of prospective customers is referred to as

Correct Answer
verified

Correct Answer
verified

The best segmentation approach is the one that

Correct Answer
verified

To create a market-product grid for bed pillows, the most effective way to segment the market would be using

Correct Answer
verified

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Correct Answer
verified

The second step in segmenting and targeting markets that link customer needs to marketing actions is to

Correct Answer
verified

Cannibalization would mostly likely occur if

Correct Answer
verified

Exam 8: Market Segmentation, Targeting, and Positioning

The purpose of the five key steps in segmenting and targeting markets is to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

More than half of all U.S. households are composed of only one or two persons, so Aunt Jemima offers one serving meals - such as its Ham & Egg Scramble and Oatmeal Pancakes. Aunt Jemima is using __________ as the basis to segment its market.

Correct AnswerverifiedShow Answer

Segmentation based on what product features are important to different customers is known as

Correct AnswerverifiedShow Answer

The market segmentation strategy known as frequency marketing focuses on

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

Nike employs a __________ strategy at its website, nikeid.com, which allows customers design a sneaker to their own personal specifications.

Correct AnswerverifiedShow Answer

A market-product grid is a framework to relate

Correct AnswerverifiedShow Answer

Todd Harris and Associates, a New York sales promotion agency, discovered from an analysis of its files that one-quarter (or 25 percent) of its clients generated more than three-quarters (or 75 percent) of its fees and commissions. This is an example of what classic concept?

Correct AnswerverifiedShow Answer

What are the three types of data needed from consumers to develop a perceptual map?

Correct AnswerverifiedIn determining a brand's position and th...View AnswerShow Answer

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

Correct AnswerverifiedProduct differentiation involves a firm ...View AnswerShow Answer

The Walt Disney Company carefully markets two distinct Winnie-the-Poohs; one is the original line-drawn figure on fine china sold at Nordstrom and the other is a cartoon-like Pooh on polyester bed sheets sold at Target. This is an example of

Correct AnswerverifiedShow Answer

After establishing the market segments and product groupings on a market-product grid, the next step is to

Correct AnswerverifiedShow Answer

Segmentation based on some subjective mental or emotional attributes, aspirations, or needs of prospective customers is referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The best segmentation approach is the one that

Correct AnswerverifiedShow Answer

To create a market-product grid for bed pillows, the most effective way to segment the market would be using

Correct AnswerverifiedShow Answer

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Correct AnswerverifiedShow Answer

The second step in segmenting and targeting markets that link customer needs to marketing actions is to

Correct AnswerverifiedShow Answer

Cannibalization would mostly likely occur if

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
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Correct Answer
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Correct Answer
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Correct Answer
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In determining a brand's position and th...
View Answer

Correct Answer
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Product differentiation involves a firm ...
View 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
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