Question 1

According to Tony Hsieh,CEO of Zappos,the company devotes the greatest amount of time to

Accepted Answer

A) seeking new and unusual styles of shoes from all over the world. 
B) improving the website to make it faster,more interesting,and fun. 
C) seeking new markets that will go beyond the Internet. 
D) finding the fastest and least expensive modes of delivery for its products. 
E) finding ways to improve customer service levels. 
A) seeking new and unusual styles of shoes from all over the world. 
B) improving the website to make it faster,more interesting,and fun. 
C) seeking new markets that will go beyond the Internet. 
D) finding the fastest and least expensive modes of delivery for its products. 
E) finding ways to improve customer service levels.

Question 2

About 3 percent of the population has some degree of allergic reaction,usually mild,to preservatives used in salad bars.Restaurants might consider people with these allergies as a separate segment.To implement this segmentation strategy,restaurants would have to prepare a regular salad bar and a special salad bar for the allergies segment.This multiple product,multiple markets segment strategy would have the greatest difficulty meeting which of the following criteria used to form market segments?

Accepted Answer

A) different needs of buyers among different segments 
B) similarity of needs of potential buyers within a segment 
C) simplicity and cost-effectiveness of assigning potential buyers to segments 
D) potential for increased profit and ROI 
E) potential of a marketing action to reach a segment 
A) different needs of buyers among different segments 
B) similarity of needs of potential buyers within a segment 
C) simplicity and cost-effectiveness of assigning potential buyers to segments 
D) potential for increased profit and ROI 
E) potential of a marketing action to reach a segment

Question 3

Organizational synergy is the increased customer value achieved through

Accepted Answer

A) performing organizational functions more efficiently. 
B) more discounts or larger rebates at the point of sale. 
C) involvement of the ultimate consumer in product design. 
D) an increase in the knowledge of competitors. 
E) shared ownership of the organization through publicly traded stock. 
A) performing organizational functions more efficiently. 
B) more discounts or larger rebates at the point of sale. 
C) involvement of the ultimate consumer in product design. 
D) an increase in the knowledge of competitors. 
E) shared ownership of the organization through publicly traded stock.

Question 4

The Zappos segmentation strategy is based on

Accepted Answer

A) offering the best selection of shoes and the best service to online shoppers. 
B) designing shoes for every type of occasion. 
C) dividing all their customers into two distinct segments: people shopping for low price and people shopping for style. 
D) offering the best access to fashionable shoes through multiple channels of distribution. 
E) maintaining the simplest method of price points to make the purchase process easy. 
A) offering the best selection of shoes and the best service to online shoppers. 
B) designing shoes for every type of occasion. 
C) dividing all their customers into two distinct segments: people shopping for low price and people shopping for style. 
D) offering the best access to fashionable shoes through multiple channels of distribution. 
E) maintaining the simplest method of price points to make the purchase process easy.

Question 5

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 rate. 
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 rate.

Question 6

Recently,U.S.dairies,struggling to increase milk sales,tried to change the way adults thought about chocolate milk.The dairies wanted to ________ chocolate milk in the minds of adult consumers.

Accepted Answer

A) segment 
B) differentiate 
C) explain 
D) promote 
E) reposition 
A) segment 
B) differentiate 
C) explain 
D) promote 
E) reposition

Question 7

Zappos's original target market customers consisted of people who wanted all of the following except which?

Accepted Answer

A) to receive quick delivery of their merchandise 
B) to buy sustainable shoes,accessories,and clothing 
C) to shop online in the convenience of their own homes 
D) to return goods for free if dissatisfied 
E) to choose from a wide selection of shoes 
A) to receive quick delivery of their merchandise 
B) to buy sustainable shoes,accessories,and clothing 
C) to shop online in the convenience of their own homes 
D) to return goods for free if dissatisfied 
E) to choose from a wide selection of shoes

Question 8

Market segments are

Accepted Answer

A) the relatively heterogeneous groups of prospective buyers that result from the market segmentation process. 
B) 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. 
C) the smallest number of buyers that have similar needs but do not react similarly in a buying situation. 
D) the relatively homogenous groups of prospective buyers that result from the market segmentation process. 
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. 
A) the relatively heterogeneous groups of prospective buyers that result from the market segmentation process. 
B) 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. 
C) the smallest number of buyers that have similar needs but do not react similarly in a buying situation. 
D) the relatively homogenous groups of prospective buyers that result from the market segmentation process. 
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.

Question 9

Figure 9-9
  
-Each cell of the complete market-product grid shows the

Accepted Answer

A) relative market share. 
B) estimated market size. 
C) investment required to reach the market. 
D) market growth rate. 
E) estimated profit. 
A) relative market share. 
B) estimated market size. 
C) investment required to reach the market. 
D) market growth rate. 
E) estimated profit.

Question 10

The first step in segmenting and targeting markets that links 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) group products to be sold into categories. 
E) take marketing actions to reach target markets. 
A) group potential buyers into segments. 
B) develop a market-product grid and estimate size of the overall market. 
C) select target markets. 
D) group products to be sold into categories. 
E) take marketing actions to reach target markets.

Question 11

Universal Concerts wants to bring a series of music concerts to Canada next year.In general,western Canadians prefer country music while eastern Canadians prefer rock.In fact,a country music event in eastern Canada is very likely to have lots of empty seats.To maximize revenue,Universal Concerts should segment its Canadian market according to

Accepted Answer

A) geographic characteristics. 
B) demographic characteristics. 
C) music format characteristics. 
D) behavioral characteristics. 
E) psychographic characteristics. 
A) geographic characteristics. 
B) demographic characteristics. 
C) music format characteristics. 
D) behavioral characteristics. 
E) psychographic characteristics.

Question 12

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

Question 13

Which of the following competitors mentioned in the text should the owner of a Wendy's restaurant monitor closely due to its explosive growth in the number of current and proposed locations-one that is or may soon be near this Wendy's?

Accepted Answer

A) Burger King 
B) In-N-Out Burger 
C) McDonald's 
D) Five Guys 
E) Smashburger 
A) Burger King 
B) In-N-Out Burger 
C) McDonald's 
D) Five Guys 
E) Smashburger

Question 14

A perceptual map is

Accepted Answer

A) a framework used to compare one firm's product offerings with another firm's offerings in relationship to their relative market share. 
B) a framework used to demonstrate the growth or decline of specific market segments within an industry. 
C) a means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands,as well as its own product or brand. 
D) a framework to relate the market segments of potential buyers to the products offered or potential marketing actions by an organization. 
E) the place a product occupies in a single consumer's mind on unimportant attributes relative to competitive products. 
A) a framework used to compare one firm's product offerings with another firm's offerings in relationship to their relative market share. 
B) a framework used to demonstrate the growth or decline of specific market segments within an industry. 
C) a means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands,as well as its own product or brand. 
D) a framework to relate the market segments of potential buyers to the products offered or potential marketing actions by an organization. 
E) the place a product occupies in a single consumer's mind on unimportant attributes relative to competitive products.

Question 15

Explain the difference between marketing synergies and product synergies.

Accepted Answer

Synergy analysis seeks opportunities by

Question 16

All of the following are criteria used for forming market segments except which?

Accepted Answer

A) difference of needs of buyers among segments 
B) potential for increased profit 
C) cost of reaching the segment 
D) potential of a marketing action to reach a segment 
E) simplicity and cost-effectiveness of assigning potential buyers to segments 
A) difference of needs of buyers among segments 
B) potential for increased profit 
C) cost of reaching the segment 
D) potential of a marketing action to reach a segment 
E) simplicity and cost-effectiveness of assigning potential buyers to segments

Question 17

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

Accepted Answer

A) demographic 
B) behavioral 
C) economic 
D) geographic 
E) psychographic 
A) demographic 
B) behavioral 
C) economic 
D) geographic 
E) psychographic

Question 18

A marketing manager goes through several steps to put a market segmentation plan into effect.This includes being able to form market segments and then ________ without encountering excessive costs.

Accepted Answer

A) eliminate potential nonbuyers 
B) identify segmentation variables 
C) select the market segments to target 
D) redirect their purchase behaviors 
E) ignore any and all similarities 
A) eliminate potential nonbuyers 
B) identify segmentation variables 
C) select the market segments to target 
D) redirect their purchase behaviors 
E) ignore any and all similarities

Question 19

Figure 9-11
  
-Figure 9-11 above is a depiction of a ________ for beverages in the minds of adults.

Accepted Answer

A) hierarchy of needs 
B) perceptual map 
C) marketing matrix 
D) growth-share matrix 
E) acuity matrix 
A) hierarchy of needs 
B) perceptual map 
C) marketing matrix 
D) growth-share matrix 
E) acuity matrix

Question 20

Which of the following is a disadvantage of employing a multiple products,multiple market segments strategy if not implemented well?

Accepted Answer

A) higher sales but lower profits 
B) reduced quality and higher prices 
C) meeting customer needs but at the expense of higher prices 
D) lower prices but with higher production costs 
E) higher quality but lower prices 
A) higher sales but lower profits 
B) reduced quality and higher prices 
C) meeting customer needs but at the expense of higher prices 
D) lower prices but with higher production costs 
E) higher quality but lower prices

Exam 9: Market Segmentation, targeting, and Positioning

According to Tony Hsieh,CEO of Zappos,the company devotes the greatest amount of time to

Organizational synergy is the increased customer value achieved through

The Zappos segmentation strategy is based on

The market segmentation strategy known as frequency marketing focuses on

Recently,U.S.dairies,struggling to increase milk sales,tried to change the way adults thought about chocolate milk.The dairies wanted to ________ chocolate milk in the minds of adult consumers.

Zappos's original target market customers consisted of people who wanted all of the following except which?

Market segments are

Figure 9-9 -Each cell of the complete market-product grid shows the

The first step in segmenting and targeting markets that links customer needs to marketing actions is to

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

Which of the following competitors mentioned in the text should the owner of a Wendy's restaurant monitor closely due to its explosive growth in the number of current and proposed locations-one that is or may soon be near this Wendy's?

A perceptual map is

Explain the difference between marketing synergies and product synergies.

All of the following are criteria used for forming market segments except which?

A marketing manager goes through several steps to put a market segmentation plan into effect.This includes being able to form market segments and then ________ without encountering excessive costs.

Figure 9-11 -Figure 9-11 above is a depiction of a ________ for beverages in the minds of adults.

Which of the following is a disadvantage of employing a multiple products,multiple market segments strategy if not implemented well?

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Developing New Products and Services

Managing Successful Products, services, and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising,sales Promotion,and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Writing Successful Marketing and Business Plans: Tips and Guidelines

Financial Statements and Ratios

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