Question 1

Which of the following describes the 80/20 principle?

Accepted Answer

A)  Market segmentation succeeds about 80 percent of the time and fails 20 percent. 
B)  Roughly 80 percent of total product sales come from 20 percent of customers. 
C)  Roughly 80 percent of the market segment is tapped and 20 percent has not yet been reached. 
D)  Roughly 80 percent of the market can be segmented and 20 percent cannot. 
A)  Market segmentation succeeds about 80 percent of the time and fails 20 percent. 
B)  Roughly 80 percent of total product sales come from 20 percent of customers. 
C)  Roughly 80 percent of the market segment is tapped and 20 percent has not yet been reached. 
D)  Roughly 80 percent of the market can be segmented and 20 percent cannot.

Question 2

Psychographic segmentation helps marketers to gain a sharper insight into consumer purchasing behaviour.

Accepted Answer

A) True 
 B)False

Question 3

Match each item to the statement or sentence listed below.
a.target market
b.market segmentation
c.cohort effect
d.census metropolitan area (CMA)
e.differentiated marketing
f.concentrated marketing
g.micromarketing
h.positioning map
i.VALS
j.AIO statement
k.core region
l.consumer product
m.demographic segmentation
n.80/20 principle
o.psychographic segmentation
p.geographic information system (GIS)
q.positioning
r.geographic segmentation
s.business product
t.mass marketing
-The division of a market into smaller, relatively homogeneous groups is called _____.

Accepted Answer

The answer of Match each item to the statement or...

Question 4

Compared to undifferentiated marketing, what can the firm that practices differentiated marketing generally expect?

Accepted Answer

A)  less sales by segment 
B)  lower total production costs 
C)  greater promotional costs 
D)  lower inventory costs 
A)  less sales by segment 
B)  lower total production costs 
C)  greater promotional costs 
D)  lower inventory costs

Question 5

Which market segment could a marketing organization most effectively promote to and serve based on the segment's size and profit potential?

Accepted Answer

A)  the staff of foreign embassies from European countries 
B)  baby boomers 
C)  captains and crews of sea-going vessels 
D)  collectors of classic MG sports cars 
A)  the staff of foreign embassies from European countries 
B)  baby boomers 
C)  captains and crews of sea-going vessels 
D)  collectors of classic MG sports cars

Question 6

What are marketers who apply a positioning strategy wanting to do?

Accepted Answer

A)  make their product look as much like the market leader as possible 
B)  emphasize a product's unique advantages 
C)  make sure they clearly outline the product's possible applications 
D)  talk to specific, known users of the product 
A)  make their product look as much like the market leader as possible 
B)  emphasize a product's unique advantages 
C)  make sure they clearly outline the product's possible applications 
D)  talk to specific, known users of the product

Question 7

When a consumer product such as toilet paper is sold in bulk quantities to businesses, the paper products company is involved in micromarketing.

Accepted Answer

A) True 
 B)False

Question 8

The number and size of the market segments chosen by a firm must match, not exceed, its marketing capabilities.

Accepted Answer

A) True 
 B)False

Question 9

Match each item to the statement or sentence listed below.
a.target market
b.market segmentation
c.cohort effect
d.census metropolitan area (CMA)
e.differentiated marketing
f.concentrated marketing
g.micromarketing
h.positioning map
i.VALS
j.AIO statement
k.core region
l.consumer product
m.demographic segmentation
n.80/20 principle
o.psychographic segmentation
p.geographic information system (GIS)
q.positioning
r.geographic segmentation
s.business product
t.mass marketing
-is a psychographic segmentation system based on two key concepts: resources and self-motivation.

Accepted Answer

The answer of Match each item to the statement or...

Question 10

Explain how each product listed can be classified as either a consumer and/or business product.
a. Shampoo
b. Steel bars for concrete reinforcement
c. Lawn mower
d. Computer
e. Automobile

Accepted Answer

Shampoo is normally a consumer product u

Question 11

Product-related segmentation focuses on such attributes as product availability and common use.

Accepted Answer

A) True 
 B)False

Question 12

A common method of developing psychographic profiles of a population is to conduct a large-scale survey that asks consumers to agree or disagree with several hundred AIO (Activities, Interests, and Opinions) statements.

Accepted Answer

A) True 
 B)False

Question 13

Dividing an overall market into homogeneous groups based on gender and age would constitute demographic segmentation.

Accepted Answer

A) True 
 B)False

Question 14

The most expensive way to market is undifferentiated marketing because a company is spending a large amount of promotional dollars to reach a vast audience, the majority of whom might not be interested in purchasing the product.

Accepted Answer

A) True 
 B)False

Question 15

A company that practices differentiated marketing can generate more sales compared to those generated by undifferentiated marketing.

Accepted Answer

A) True 
 B)False

Question 16

PlaySports manufactures apparel for youth sports teams. The attire can be customized with the team logo and the child's name. This customization costs the manufacturer very little, enabling it to sell uniforms for less than $30. PlaySports is successful because it has matched its market segment with its capabilities.

Accepted Answer

A) True 
 B)False

Question 17

What does a positioning map demonstrate?

Accepted Answer

A)  which companies use undifferentiated marketing strategies 
B)  what will remain constant through the entire product life cycle 
C)  how consumers view a product relative to competitive products 
D)  how to introduce a new product to the marketplace 
A)  which companies use undifferentiated marketing strategies 
B)  what will remain constant through the entire product life cycle 
C)  how consumers view a product relative to competitive products 
D)  how to introduce a new product to the marketplace

Question 18

While researching the idea of opening his own health club, Tomas learned that 90 percent of health club members are between the ages of 18 and 49. They prefer to exercise with people of their own gender, are more likely to buy foreign-brand cars, and are urban dwellers. How can Tomas use this assembled information?

Accepted Answer

A)  observational analysis 
B)  identifying dimensions for segmenting markets 
C)  forecasting total market potential 
D)  developing a market segment profile 
A)  observational analysis 
B)  identifying dimensions for segmenting markets 
C)  forecasting total market potential 
D)  developing a market segment profile

Question 19

Which of the following is NOT a life-cycle stage?

Accepted Answer

A)  unmarried 
B)  first-child families 
C)  remarried 
D)  empty nesters 
A)  unmarried 
B)  first-child families 
C)  remarried 
D)  empty nesters

Question 20

Not-for-profit organizations practice market segmentation.

Accepted Answer

A) True 
 B)False

Which of the following describes the 80/20 principle?

Psychographic segmentation helps marketers to gain a sharper insight into consumer purchasing behaviour.

Compared to undifferentiated marketing, what can the firm that practices differentiated marketing generally expect?

Which market segment could a marketing organization most effectively promote to and serve based on the segment's size and profit potential?

What are marketers who apply a positioning strategy wanting to do?

When a consumer product such as toilet paper is sold in bulk quantities to businesses, the paper products company is involved in micromarketing.

The number and size of the market segments chosen by a firm must match, not exceed, its marketing capabilities.

Explain how each product listed can be classified as either a consumer and/or business product. a. Shampoo b. Steel bars for concrete reinforcement c. Lawn mower d. Computer e. Automobile

Product-related segmentation focuses on such attributes as product availability and common use.

A common method of developing psychographic profiles of a population is to conduct a large-scale survey that asks consumers to agree or disagree with several hundred AIO (Activities, Interests, and Opinions) statements.

Dividing an overall market into homogeneous groups based on gender and age would constitute demographic segmentation.

The most expensive way to market is undifferentiated marketing because a company is spending a large amount of promotional dollars to reach a vast audience, the majority of whom might not be interested in purchasing the product.

A company that practices differentiated marketing can generate more sales compared to those generated by undifferentiated marketing.

What does a positioning map demonstrate?

Which of the following is NOT a life-cycle stage?

Not-for-profit organizations practice market segmentation.

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Digital Marketing and Social Media: Living in the Connected World

Consumer Behaviour

Business-To-Business B2b Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

Relationship Marketing and Customer Relationship Management CRM

Filters

Exam 9: Marketing Segmentation, Targeting, and Positioning

Which of the following describes the 80/20 principle?

Psychographic segmentation helps marketers to gain a sharper insight into consumer purchasing behaviour.

Compared to undifferentiated marketing, what can the firm that practices differentiated marketing generally expect?

Which market segment could a marketing organization most effectively promote to and serve based on the segment's size and profit potential?

What are marketers who apply a positioning strategy wanting to do?

When a consumer product such as toilet paper is sold in bulk quantities to businesses, the paper products company is involved in micromarketing.

The number and size of the market segments chosen by a firm must match, not exceed, its marketing capabilities.

Explain how each product listed can be classified as either a consumer and/or business product. a. Shampoo b. Steel bars for concrete reinforcement c. Lawn mower d. Computer e. Automobile

Product-related segmentation focuses on such attributes as product availability and common use.

A common method of developing psychographic profiles of a population is to conduct a large-scale survey that asks consumers to agree or disagree with several hundred AIO (Activities, Interests, and Opinions) statements.

Dividing an overall market into homogeneous groups based on gender and age would constitute demographic segmentation.

The most expensive way to market is undifferentiated marketing because a company is spending a large amount of promotional dollars to reach a vast audience, the majority of whom might not be interested in purchasing the product.

A company that practices differentiated marketing can generate more sales compared to those generated by undifferentiated marketing.

What does a positioning map demonstrate?

Which of the following is NOT a life-cycle stage?

Not-for-profit organizations practice market segmentation.

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Digital Marketing and Social Media: Living in the Connected World

Consumer Behaviour

Business-To-Business B2b Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

Relationship Marketing and Customer Relationship Management CRM

Filters