Question 1

Apple Market-Product Grid
  
-According to the Apple market-product grid above,Apple would most likely get the least product synergies from the

Accepted Answer

A) Mac Pro and MacBook Pro. 
B) Mac Pro and iMac. 
C) Mac Pro and MacBook Air. 
D) Mac Pro and Mac Mini. 
E) iMac and Mac Mini. 
A) Mac Pro and MacBook Pro. 
B) Mac Pro and iMac. 
C) Mac Pro and MacBook Air. 
D) Mac Pro and Mac Mini. 
E) iMac and Mac Mini.

Question 2

Personality and lifestyle are both variables used to employ ________ segmentation.

Accepted Answer

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

Question 3

Recently Colgate-Palmolive introduced Colgate Enamel Health toothpaste,one that claims to replenish and polish tooth enamel,the hard outer layer of the tooth that provides a protective barrier to inner layers.This new formula helps to separate the Colgate product from its top competitors,such as Crest.What marketing strategy did Colgate-Palmolive use here?

Accepted Answer

A) product differentiation 
B) product segmentation 
C) market expansion 
D) usage segmentation 
E) psychographic segmentation 
A) product differentiation 
B) product segmentation 
C) market expansion 
D) usage segmentation 
E) psychographic segmentation

Question 4

When a new product or a new retail chain steals customers and sales from the organization's older products and retail outlets,it is referred to as

Accepted Answer

A) cannibalization. 
B) amortization. 
C) product appropriation. 
D) product pilfering. 
E) marketing Darwinism. 
A) cannibalization. 
B) amortization. 
C) product appropriation. 
D) product pilfering. 
E) marketing Darwinism.

Question 5

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-product 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. 
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-product 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.

Question 6

Magazines such as Fitness,Field & Stream,Golf Digest,and Health focus on how people live their lives,and thus all use a ________ segmentation strategy.

Accepted Answer

A) psychographic 
B) behavioral 
C) situational 
D) socioeconomic 
E) geographic 
A) psychographic 
B) behavioral 
C) situational 
D) socioeconomic 
E) geographic

Question 7

Tony Hsieh,CEO of Zappos,offers $4,000 to anyone who

Accepted Answer

A) identifies a completely new market segment with a product to match it. 
B) finds a way of improving service to online customers. 
C) takes the customer loyalty training class and decides to quit anyway. 
D) finds a shoe-related product that Zappos does not already carry. 
E) creates a humorous theme for one of the monthly company meetings. 
A) identifies a completely new market segment with a product to match it. 
B) finds a way of improving service to online customers. 
C) takes the customer loyalty training class and decides to quit anyway. 
D) finds a shoe-related product that Zappos does not already carry. 
E) creates a humorous theme for one of the monthly company meetings.

Question 8

Which of the following is an example of a Tiffany/Walmart strategy?

Accepted Answer

A) College Football magazine selects different covers for essentially the same magazine in order to appeal to different geographic markets in the United States. 
B) A new movie used several different movie trailers;one showed the action scenes in order to attract one audience and the other showed romantic scenes to attract another audience. 
C) Arm and Hammer Baking Soda can be used for baking and to remove odors from refrigerators and litter boxes. 
D) Gap's Banana Republic chain sells blue jeans for $58,whereas its Old Navy stores sell a slightly different version for $22. 
E) Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women. 
A) College Football magazine selects different covers for essentially the same magazine in order to appeal to different geographic markets in the United States. 
B) A new movie used several different movie trailers;one showed the action scenes in order to attract one audience and the other showed romantic scenes to attract another audience. 
C) Arm and Hammer Baking Soda can be used for baking and to remove odors from refrigerators and litter boxes. 
D) Gap's Banana Republic chain sells blue jeans for $58,whereas its Old Navy stores sell a slightly different version for $22. 
E) Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.

Question 9

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 a consumer's mind relative to competitive products. 
D) the practice of selling 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. 
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 a consumer's mind relative to competitive products. 
D) the practice of selling 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.

Question 10

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer which of the following questions?

Accepted Answer

A) Is this product useful on a global scale? 
B) Is it possible to reposition this product? 
C) Is there too much competition for this product? 
D) Is the market loyal to the product? 
E) Would segmentation be worth doing and is it possible? 
A) Is this product useful on a global scale? 
B) Is it possible to reposition this product? 
C) Is there too much competition for this product? 
D) Is the market loyal to the product? 
E) Would segmentation be worth doing and is it possible?

Question 11

A perceptual map enables a manager to see how ________ perceive competing products or brands,as well as the firm's own product or brand.

Accepted Answer

A) stakeholders 
B) competitors 
C) independent rating organizations such as Consumer Reports 
D) consumers 
E) the CEO of the firm 
A) stakeholders 
B) competitors 
C) independent rating organizations such as Consumer Reports 
D) consumers 
E) the CEO of the firm

Question 12

As an owner of a Wendy's fast-food restaurant located near a large urban university,you need to analyze your customers and determine which segmentation base and its associated variable(s)you will use to segment your target market.Which segmentation base and associated variable(s)should you use?

Accepted Answer

A) psychographic: VALS and personality 
B) demographic: gender and age 
C) behavioral: students and nonstudents 
D) geographic: city size and zip code 
E) transportation mode: car,bike,public transportation,and none (walking) 
A) psychographic: VALS and personality 
B) demographic: gender and age 
C) behavioral: students and nonstudents 
D) geographic: city size and zip code 
E) transportation mode: car,bike,public transportation,and none (walking)

Question 13

Which of the following statements regarding segmentation bases is most accurate?

Accepted Answer

A) The identification of demographic variables is more objective than the identification of psychographic variables,which is more subjective. 
B) Marketers should use segmentation bases in this order to reduce potential costs: behavioral,demographic,psychographic,and geographic. 
C) The identification of psychographic variables is more objective than the identification of demographic variables,which is more subjective. 
D) Behavioral segmentation is based primarily on personality. 
E) Psychographic segmentation is based primarily on product features. 
A) The identification of demographic variables is more objective than the identification of psychographic variables,which is more subjective. 
B) Marketers should use segmentation bases in this order to reduce potential costs: behavioral,demographic,psychographic,and geographic. 
C) The identification of psychographic variables is more objective than the identification of demographic variables,which is more subjective. 
D) Behavioral segmentation is based primarily on personality. 
E) Psychographic segmentation is based primarily on product features.

Question 14

The annual Sporting News Baseball Yearbook uses 15 different covers featuring a baseball star from each of its regions in the United States,yet each regional issue has the same magazine content.The publisher 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 segments 
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 segments

Question 15

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) product differentiation. 
D) economies of scale marketing. 
E) build-to-order. 
A) family branding. 
B) mass customization. 
C) product differentiation. 
D) economies of scale marketing. 
E) build-to-order.

Question 16

Name Maker is an online company that sells,among other items,high-end gift wrapping that can have custom slogans or names printed on it,such as the name of a person celebrating a birthday or a couple who is getting married.This made-to-order gift wrapping is an example of

Accepted Answer

A) family branding. 
B) mass customization. 
C) synergistic marketing. 
D) "Tiffany/Walmart" marketing. 
E) specialty customization. 
A) family branding. 
B) mass customization. 
C) synergistic marketing. 
D) "Tiffany/Walmart" marketing. 
E) specialty customization.

Question 17

One approach to positioning a product is ________ positioning,which involves competing directly with competitors on similar product attributes in the same target market.

Accepted Answer

A) perceptual 
B) head-to-head 
C) psychological 
D) differentiation 
E) market 
A) perceptual 
B) head-to-head 
C) psychological 
D) differentiation 
E) market

Question 18

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 19

Variables that are based on some objective physical (gender,ethnicity),measurable (age,income),or other classification attribute (birth era,occupation)of prospective customers are used in which segmentation base?

Accepted Answer

A) personality 
B) usage 
C) needs 
D) demographic 
E) behavioral 
A) personality 
B) usage 
C) needs 
D) demographic 
E) behavioral

Question 20

Custom Foot operates six retail locations.At first glance,none looks different from a typical boot store.But here the only boots on hand are display models.There is no inventory for sale and customers go home empty-handed,awaiting their orders.Customers browse the store,choosing style,color,and leather type,with about 100 displays to provide style guidelines.Custom Foot guarantees your boots will be ready within three weeks.This is an example of

Accepted Answer

A) mass customization. 
B) specialty customization. 
C) virtual merchandising. 
D) one product and multiple market segments. 
E) multiple products and multiple market segments. 
A) mass customization. 
B) specialty customization. 
C) virtual merchandising. 
D) one product and multiple market segments. 
E) multiple products and multiple market segments.

Exam 9: Market Segmentation, targeting, and Positioning

Apple Market-Product Grid -According to the Apple market-product grid above,Apple would most likely get the least product synergies from the

Personality and lifestyle are both variables used to employ ________ segmentation.

When a new product or a new retail chain steals customers and sales from the organization's older products and retail outlets,it is referred to as

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

Magazines such as Fitness,Field & Stream,Golf Digest,and Health focus on how people live their lives,and thus all use a ________ segmentation strategy.

Tony Hsieh,CEO of Zappos,offers $4,000 to anyone who

Which of the following is an example of a Tiffany/Walmart strategy?

Product repositioning refers to

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer which of the following questions?

A perceptual map enables a manager to see how ________ perceive competing products or brands,as well as the firm's own product or brand.

As an owner of a Wendy's fast-food restaurant located near a large urban university,you need to analyze your customers and determine which segmentation base and its associated variable(s)you will use to segment your target market.Which segmentation base and associated variable(s)should you use?

Which of the following statements regarding segmentation bases is most accurate?

The annual Sporting News Baseball Yearbook uses 15 different covers featuring a baseball star from each of its regions in the United States,yet each regional issue has the same magazine content.The publisher is using which of the following segmentation strategies?

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

Name Maker is an online company that sells,among other items,high-end gift wrapping that can have custom slogans or names printed on it,such as the name of a person celebrating a birthday or a couple who is getting married.This made-to-order gift wrapping is an example of

One approach to positioning a product is ________ positioning,which involves competing directly with competitors on similar product attributes in the same target market.

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

Variables that are based on some objective physical (gender,ethnicity),measurable (age,income),or other classification attribute (birth era,occupation)of prospective customers are used in which segmentation base?

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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