Question 1

Define product positioning.What are two approaches to product positioning? Give an example of each approach.

Accepted Answer

Product positioning refers to the place ...

Question 2

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 potential buyers to relative market share compared to the closest competitor.
E)  the market segments of potential buyers to products offered or potential marketing actions by an organization.F) C) and E)
G) A) and C)

Question 3

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 incidence.
D)  turnover.
E)  usage rate.F) A) and C)
G) B) and E)

Question 4

All of the following are psychographic segmentation variables EXCEPT:

Accepted Answer

A)  lifestyle
B)  needs
C)  birth era
D)  VALS
E)  personalityF) A) and E)
G) A) and D)

Question 5

An analysis of the pillow market using a market-product grid suggests that the most important segment to target is

Accepted Answer

A)  side sleepers.
B)  sleepers with sleep disorders,such as sleep apnea.
C)  sleepers with annual incomes of $50,000 and over.
D)  back sleepers.
E)  stomach sleepers.F) C) and D)
G) A) and D)

Question 6

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)  market size
E)  simplicity and cost of assigning potential buyers to segmentsF) B) and D)
G) None of the above

Question 7

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 separate promotional campaigns.
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.F) All of the above
G) C) and E)

Question 8

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 C)
G) A) and B)

Question 9

Figure 9-9 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.The best way to describe how the student market is segmented is

Accepted Answer

A)  whether the student is a faculty or staff member.
B)  whether the student lives near the campus or far away.
C)  whether the student has the disposable income to eat at Wendy's.
D)  combining the factors of where the student lives and when (s) he is on campus.
E)  the meals eaten at the Wendy's restaurant.F) C) and D)
G) B) and E)

Question 10

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 D)
G) A) and B)

Question 11

Product repositioning refers to

Accepted Answer

A)  the place a product offering occupies in consumers' minds on important attributes.
B)  using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets.
C)  changing the place an offering occupies in consumers' minds relative to competitive products.
D)  the practice of selling off a firm's least successful product line and redirecting that revenue into a totally new product.
E)  the competitive advantage of one product over another.F) B) and D)
G) A) and B)

Question 12

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

Question 13

Figure 9-9 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.Operations and production synergies and efficiencies run __________.

Accepted Answer

A)  horizontally across the rows
B)  vertically down the columns
C)  between full meals and snacks
D)  diagonally from top-left to bottom-right of a market-product grid
E)  both horizontally and vertically depending upon the marketing actionF) C) and D)
G) C) and E)

Question 14

The aggregation of prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marketing action is referred to as __________.

Accepted Answer

A)  market diversification
B)  market differentiation
C)  market segmentation
D)  market augmentation
E)  market repositioningF) A) and B)
G) All of the above

Question 15

According to the Apple market-product grid above,Apple would most likely get the LEAST market synergies from

Accepted Answer

A)  teachers and college staff.
B)  individuals and small home office users.
C)  medium/large businesses and college faculty.
D)  students,teachers,and college faculty.
E)  creative professionals.F) B) and E)
G) A) and E)

Question 16

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.F) All of the above
G) A) and B)

Question 17

Which of the following is a common basis used to segment U.S.organizational markets?

Accepted Answer

A)  psychographic
B)  income
C)  prospects
D)  education
E)  geographicF) D) and E)
G) A) and B)

Question 18

What are the four steps to positioning a product with a perceptual map?

Accepted Answer

A key to positioning a product or brand ...

Question 19

As Figure 9-4 above shows,there are four general categories used to segment consumer markets in the U.S. ,each having its own variables and typical breakdowns that can be used to segment them."A" describes the __________ base of segmentation.

Accepted Answer

A)  behavioral
B)  demographic
C)  geographic
D)  psychographic
E)  productF) C) and E)
G) D) and E)

Question 20

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as

Accepted Answer

A)  family branding.
B)  mass customization.
C)  "Tiffany/Walmart" marketing.
D)  economies of scale marketing.
E)  build-to-order.F) B) and D)
G) A) and C)

Exam 9: Market Segmentation, Targeting, and Positioning

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

Correct AnswerverifiedShow Answer

Figure 9-9 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.The best way to describe how the student market is segmented is

Correct AnswerverifiedShow Answer

According to the Apple market-product grid above,Apple would most likely get the LEAST market synergies from

Correct AnswerverifiedShow Answer

As Figure 9-4 above shows,there are four general categories used to segment consumer markets in the U.S. ,each having its own variables and typical breakdowns that can be used to segment them."A" describes the __________ base of segmentation.

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

Define product positioning.What are two approaches to product positioning? Give an example of each approach.

Correct AnswerverifiedProduct positioning refers to the place ...View AnswerShow Answer

Figure 9-9 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.Operations and production synergies and efficiencies run __________.

Correct AnswerverifiedShow Answer

What are the four steps to positioning a product with a perceptual map?

Correct AnswerverifiedA key to positioning a product or brand ...View AnswerShow Answer

All of the following are psychographic segmentation variables EXCEPT:

Correct AnswerverifiedShow Answer

A market-product grid is a framework to relate

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Product repositioning refers to

Correct AnswerverifiedShow Answer

The market segmentation strategy known as frequency marketing focuses on

Correct AnswerverifiedShow Answer

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as

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

An analysis of the pillow market using a market-product grid suggests that the most important segment to target is

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following is a common basis used to segment U.S.organizational markets?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The aggregation of prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marketing action is referred to as __________.

Correct AnswerverifiedShow Answer

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Product positioning refers to the place ...
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A key to positioning a product or brand ...
View Answer

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