Question 1

College dorm residents frequently want to keep and prepare their own food and snacks to save money or have a late night snack.However, their dorm rooms are often woefully short of space.MicroFridge understands this and markets a combination microwave, refrigerator, and freezer targeted to these students.MicroFridge is using which type of segmentation basis?

Accepted Answer

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

Question 2

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

Accepted Answer

Product differentiation is a strategy th...

Question 3

Two key types of synergies are __________.

Accepted Answer

A)  supplier and distributor synergies
B)  market and product synergies
C)  market dominated and consumer dominated
D)  product and production synergies
E)  consumer and market synergiesF) A) and D)
G) None of the above

Question 4

Campbell's found that its canned nacho cheese sauce, which could be heated and poured directly onto nacho chips, was too hot for Americans in the East and not hot enough for those in the West and Southwest.Today, Campbell's plants in Texas and California produce a hotter nacho cheese sauce than that produced in the other plants.Campbell's is using __________ segmentation.

Accepted Answer

A)  demographic
B)  behavioral
C)  socioeconomic
D)  geographic
E)  psychographicF) All of the above
G) A) and D)

Question 5

Tony Hsieh, CEO of Zappos, offers $2,000 to anyone who

Accepted Answer

A)  identifies a completely new market segment with a product to match it.
B)  can find a way of improving service to on-line customers.
C)  takes the loyalty training class and decides to quit anyway.
D)  can find a shoe-related product that Zappos does not already carry.
E)  create a theme for "Weirdo Wednesday" when company meetings are held.F) A) and E)
G) A) and B)

Question 6

FIGURE 9-4 
-Figure 9-4 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.Marketing synergies and efficiencies run horizontally because

Accepted Answer

A)  the first potential growth opportunity would be the breakfast market.
B)  there are multiple markets and actions that can be simultaneously addressed.
C)  a single kind of marketing action can reach customers that buy different "products."
D)  the product offerings are virtually the same and the marketing action can be as simple as offering current customers coupons to buy larger quantities.
E)  the columns correspond to production synergies and efficiencies.F) B) and E)
G) All of the above

Question 7

Market segments refer to

Accepted Answer

A)  the relatively heterogeneous group of prospective buyers that result from the market segmentation process.
B)  the relatively homogenous group of prospective buyers that result from the market segmentation process.
C)  the smallest unit of buyers that have similar needs but do not react similarly in a buying situation.
D)  all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future.
E)  all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.F) B) and D)
G) A) and C)

Question 8

Some Timex wristwatches can be purchased for less than $30; some Rolex wristwatches carry a price tag of several thousand dollars.In general, consumers view Timex watches as being dependable, relatively accurate, and inexpensive.The Rolex brand tends to be perceived as an expensive status symbol.Timex watches can be purchased in drug stores, discount stores, and department stores in all sizes of communities.Rolex watches are distributed more selectively, and are often available only in fine jewelry stores or specialty shops.By using distinctly different pricing and distribution strategies, the marketers of Timex and Rolex watches have attempted to

Accepted Answer

A)  compete for the same segment through different channels of distribution.
B)  develop similar products under different names.
C)  use a product differentiation strategy.
D)  build customer loyalty through direct competition.
E)  create cognitive dissonance in consumers who are considering the purchase of a wristwatch.F) A) and B)
G) C) and D)

Question 9

act to reposition the company's product or brand in the minds of potential customers.

Accepted Answer

A)  decide whether to keep or delete the market segment from your product offerings
B)  decide which of your competitors would be the most effective partner in a corporate merger
C)  discover how target customers rate competing products or brands with respect to these attributes
D)  create a marketing plan that conforms to your customers' perceptions
E)  market niches that were not previously discovered during the market segmentation processF) B) and C)
G) B) and E)

Question 10

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

Question 11

ChoiceShirts is an online company that makes custom T-shirts.Customers can make 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)  synergistic marketing.
D)  market melding.
E)  specialty customization.F) D) and E)
G) A) and B)

Question 12

Toyota makes two types of hybrid automobiles, a small sedan, the Prius, and an SUV, the Highlander.Both provide high mileage for the automobile class.Toyota is using which type of segmentation variable to market these cars?

Accepted Answer

A)  geographic
B)  socioeconomic
C)  behavioral
D)  psychographic
E)  demographicF) A) and D)
G) C) and D)

Question 13

Reebok makes shoes with DMX Shear and Foam cushioning.The Premier Control shoe is made for runners whose feet tend to turn out.The Premier Road is made with extra cushioning for pavement runners.This strategy is an example of

Accepted Answer

A)  market segmentation.
B)  mass customization.
C)  customized manufacturing.
D)  single chain marketing.
E)  market specific selection.F) A) and D)
G) C) and D)

Question 14

Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as __________.

Accepted Answer

A)  competitive repositioning
B)  position downsizing
C)  differentiation positioning
D)  head-to-head positioning
E)  product distinction positioningF) C) and D)
G) D) and E)

Question 15

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

Accepted Answer

A)  potential for increased profit
B)  similarity of needs of potential buyers within a segment
C)  difference of needs of buyers among segments
D)  competitive position
E)  potential of a marketing action to reach a segmentF) A) and E)
G) A) and B)

Question 16

FIGURE 9-5 
-In the Apple market-product grid shown above in Figure 9-5, for its PCs, the "Medium/Large Business" segment seems willing to purchase each item in Apple's product line.This allows Apple to enjoy __________.

Accepted Answer

A)  segmentation synergies
B)  marketing synergies
C)  product synergies
D)  80/20 rule
E)  usage ratesF) A) and E)
G) None of the above

Question 17

Kellogg's different types of cereals, each targeted at a different type of user, are an example of multiple products aimed at multiple markets.Manufacturing these different cereals is clearly more expensive than producing one but seems worthwhile if it adds to the manufacturer's sales revenues and profits, doesn't reduce quality or increase price, and

Accepted Answer

A)  conforms to all FDA guidelines.
B)  creates economy of scale.
C)  decreases the cost of the physical plant.
D)  stabilizes the sales revenues and profits.
E)  better serves the customers' needs.F) C) and D)
G) A) and D)

Question 18

The greatest benefits to consumers when a firm chooses a one product multiple market strategy is __________.

Accepted Answer

A)  improved service
B)  increased number of choices
C)  higher product quality and consumer value
D)  lower retail prices because of lower marketing costs
E)  lower retail prices because of lower production costsF) C) and D)
G) A) and B)

Question 19

act to reposition the company's product or brand in the minds of potential customers.

Accepted Answer

A)  decide whether to keep or delete the market segment from your product offerings
B)  decide which of your competitors would be the most effective partner in a corporate merger
C)  identify the important attributes for the product or brand class
D)  create a marketing plan that conforms to your customers' perceptions
E)  identify market niches that were not previously discovered during the market segmentation processF) A) and C)
G) A) and E)

Question 20

The purpose of market segmentation is to respond more effectively to the wants of groups of potential buyers in order to

Accepted Answer

A)  maintain market share.
B)  increase sales and profits.
C)  assume social responsibility.
D)  use the firms resources most efficiently.
E)  provide the best quality products on the market.F) B) and C)
G) A) and E)

Exam 9: Market Segmentation, Targeting, and Positioning

act to reposition the company's product or brand in the minds of potential customers.

Correct Answer
verified

act to reposition the company's product or brand in the minds of potential customers.

Correct Answer
verified

Correct Answer
verified

Market segments refer to

Correct Answer
verified

Correct Answer
verified

The purpose of market segmentation is to respond more effectively to the wants of groups of potential buyers in order to

Correct Answer
verified

ChoiceShirts is an online company that makes custom T-shirts.Customers can make 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

Reebok makes shoes with DMX Shear and Foam cushioning.The Premier Control shoe is made for runners whose feet tend to turn out.The Premier Road is made with extra cushioning for pavement runners.This strategy is an example of

Correct Answer
verified

Two key types of synergies are __________.

Correct Answer
verified

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

Correct Answer
verified

Toyota makes two types of hybrid automobiles, a small sedan, the Prius, and an SUV, the Highlander.Both provide high mileage for the automobile class.Toyota is using which type of segmentation variable to market these cars?

Correct Answer
verified

FIGURE 9-5 -In the Apple market-product grid shown above in Figure 9-5, for its PCs, the "Medium/Large Business" segment seems willing to purchase each item in Apple's product line.This allows Apple to enjoy __________.

Correct Answer
verified

Correct Answer
verified

FIGURE 9-4 -Figure 9-4 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.Marketing synergies and efficiencies run horizontally because

Correct Answer
verified

The greatest benefits to consumers when a firm chooses a one product multiple market strategy is __________.

Correct Answer
verified

Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as __________.

Correct Answer
verified

Tony Hsieh, CEO of Zappos, offers $2,000 to anyone who

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

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 is a strategy th...
View Answer

Exam 9: Market Segmentation, Targeting, and Positioning

act to reposition the company's product or brand in the minds of potential customers.

Correct AnswerverifiedShow Answer

act to reposition the company's product or brand in the minds of potential customers.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Market segments refer to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The purpose of market segmentation is to respond more effectively to the wants of groups of potential buyers in order to

Correct AnswerverifiedShow Answer

ChoiceShirts is an online company that makes custom T-shirts.Customers can make 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

Reebok makes shoes with DMX Shear and Foam cushioning.The Premier Control shoe is made for runners whose feet tend to turn out.The Premier Road is made with extra cushioning for pavement runners.This strategy is an example of

Correct AnswerverifiedShow Answer

Two key types of synergies are __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Toyota makes two types of hybrid automobiles, a small sedan, the Prius, and an SUV, the Highlander.Both provide high mileage for the automobile class.Toyota is using which type of segmentation variable to market these cars?

Correct AnswerverifiedShow Answer

FIGURE 9-5 -In the Apple market-product grid shown above in Figure 9-5, for its PCs, the "Medium/Large Business" segment seems willing to purchase each item in Apple's product line.This allows Apple to enjoy __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

FIGURE 9-4 -Figure 9-4 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.Marketing synergies and efficiencies run horizontally because

Correct AnswerverifiedShow Answer

The greatest benefits to consumers when a firm chooses a one product multiple market strategy is __________.

Correct AnswerverifiedShow Answer

Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as __________.

Correct AnswerverifiedShow Answer

Tony Hsieh, CEO of Zappos, offers $2,000 to anyone who

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedProduct differentiation is a strategy th...View AnswerShow Answer

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Product differentiation is a strategy th...
View Answer