Question 1

Describe the market segmentation process.

Accepted Answer

Market segmentation first stresses the i

Question 2

Many companies have cut travel budgets so that fewer businesspeople are authorized to fly first class.Despite the shrinking pool of business-class travelers,British Airways has grown market share for its trans-Atlantic business class by offering greater comfort.Promotions to frequent fliers stress that passengers can sleep in fully reclining seats and arrive refreshed to carry out a full day's schedule.The segmentation strategy of British Airways is an example of

Accepted Answer

A) life stage segmentation. 
B) geographic segmentation. 
C) social class segmentation. 
D) behavioral segmentation. 
E) psychographic segmentation. 
A) life stage segmentation. 
B) geographic segmentation. 
C) social class segmentation. 
D) behavioral segmentation. 
E) psychographic segmentation.

Question 3

When considering the quick-service restaurant competition,it will be most important for Wendy's to consider not only the offerings of Burger King,McDonald's,Five Guys,and other hamburger chains but also the

Accepted Answer

A) meals at golf and country clubs. 
B) dormitory meal plans at surrounding colleges and universities. 
C) items for sale at gas stations and convenience stores. 
D) local farmer's markets that sell produce. 
E) nearly every food item sold at local grocery stores. 
A) meals at golf and country clubs. 
B) dormitory meal plans at surrounding colleges and universities. 
C) items for sale at gas stations and convenience stores. 
D) local farmer's markets that sell produce. 
E) nearly every food item sold at local grocery stores.

Question 4

Tony Hsieh invested in the company Zappos and

Accepted Answer

A) immediately changed its product mix. 
B) helped to develop its segmentation strategy. 
C) focused on value-oriented customers. 
D) focused on unknown brands. 
E) helped to shift to a more transactional focus. 
A) immediately changed its product mix. 
B) helped to develop its segmentation strategy. 
C) focused on value-oriented customers. 
D) focused on unknown brands. 
E) helped to shift to a more transactional focus.

Question 5

Behavioral segmentation may be based on

Accepted Answer

A) lifestyles and demographics. 
B) retailer and wholesaler behaviors. 
C) geographic and demographic criteria. 
D) product features and user status. 
E) demand and supply. 
A) lifestyles and demographics. 
B) retailer and wholesaler behaviors. 
C) geographic and demographic criteria. 
D) product features and user status. 
E) demand and supply.

Question 6

Samsung sells a variety of TVs,from simple and small ones to large smart TVs with Internet connectivity and 3-D technology.Customers prefer different features,so Samsung uses which type of segmentation variable based on their viewing preferences?

Accepted Answer

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

Question 7

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 factors 
A) self-regulatory industry standards 
B) government regulations 
C) top-level management 
D) buyers' or market needs 
E) controllable environmental factors

Question 8

During its market segmentation process for the Nike LeBron 15 basketball shoe,which sells for more than $185 a pair,Nike decided to concentrate on affluent teens rather than members of high school basketball teams.This is an example of

Accepted Answer

A) selecting target market segments to reach. 
B) forming products to be sold into groups. 
C) developing a market-product grid and estimating size of markets. 
D) taking marketing actions to reach target markets. 
E) forming prospective buyers into segments. 
A) selecting target market segments to reach. 
B) forming products to be sold into groups. 
C) developing a market-product grid and estimating size of markets. 
D) taking marketing actions to reach target markets. 
E) forming prospective buyers into segments.

Question 9

Four general categories are used to segment consumer markets,one of which is

Accepted Answer

A) supplier segmentation. 
B) demand segmentation. 
C) regional segmentation. 
D) behavioral segmentation. 
E) product segmentation. 
A) supplier segmentation. 
B) demand segmentation. 
C) regional segmentation. 
D) behavioral segmentation. 
E) product segmentation.

Question 10

The Nielsen PRIZM® lifestyle segmentation is based on the belief that "birds of a feather flock together." It combines ________ with a geographic component.

Accepted Answer

A) situational segmentation 
B) socioeconomic segmentation 
C) demographic segmentation 
D) psychographic segmentation 
E) behavioral segmentation 
A) situational segmentation 
B) socioeconomic segmentation 
C) demographic segmentation 
D) psychographic segmentation 
E) behavioral segmentation

Question 11

Figure 9-11
  
-To effectively position a product or brand,companies take four steps,including which of these?

Accepted Answer

A) decide whether to keep or delete the market segment that your product offering targets 
B) identify the key differentiators for competitors' brands 
C) discover how target customers rate a company's product or brand on important attributes 
D) create a marketing plan based on customers' perceptions 
E) identify market niches that were not selected during the market segmentation process 
A) decide whether to keep or delete the market segment that your product offering targets 
B) identify the key differentiators for competitors' brands 
C) discover how target customers rate a company's product or brand on important attributes 
D) create a marketing plan based on customers' perceptions 
E) identify market niches that were not selected during the market segmentation process

Question 12

All of the following are market segmentation strategies except which?

Accepted Answer

A) build-to-order 
B) multiple products,multiple market segments 
C) one product,multiple market segments 
D) multiple products,one segment 
E) mass customization 
A) build-to-order 
B) multiple products,multiple market segments 
C) one product,multiple market segments 
D) multiple products,one segment 
E) mass customization

Question 13

The best segmentation approach is the one that

Accepted Answer

A) makes it easiest to reach the segment. 
B) maximizes the opportunity for future profit and ROI. 
C) recognizes different needs of buyers among different segments. 
D) recognizes similarities of needs of potential buyers within a segment. 
E) is simplest and least costly in assigning potential buyers to segments. 
A) makes it easiest to reach the segment. 
B) maximizes the opportunity for future profit and ROI. 
C) recognizes different needs of buyers among different segments. 
D) recognizes similarities of needs of potential buyers within a segment. 
E) is simplest and least costly in assigning potential buyers to segments.

Question 14

ChoiceShirts is an online company that makes made-to-order T-shirts.Its online customers can order 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) multiple products and multiple market segments. 
D) one product and multiple market segments. 
E) specialty customization. 
A) family branding. 
B) mass customization. 
C) multiple products and multiple market segments. 
D) one product and multiple market segments. 
E) specialty customization.

Question 15

Usage rate refers to

Accepted Answer

A) the percentage of total possible users divided by the total number of consumers who actually use a product or service. 
B) the number of times a customer uses or recommends a product or service annually. 
C) quantity consumed or patronage (store visits)during a specific period. 
D) the maximum number of times a customer has used a product or service historically. 
E) the profits a firm earns from customers who consume a particular product or service. 
A) the percentage of total possible users divided by the total number of consumers who actually use a product or service. 
B) the number of times a customer uses or recommends a product or service annually. 
C) quantity consumed or patronage (store visits)during a specific period. 
D) the maximum number of times a customer has used a product or service historically. 
E) the profits a firm earns from customers who consume a particular product or service.

Question 16

What is market segmentation and why is it important?

Accepted Answer

People have different needs and wants,ev

Question 17

Determining the size of specific markets within a market-product grid is helpful in determining which target market segments to select and

Accepted Answer

A) how to implement the 80-20 rule. 
B) which products to group into meaningful categories. 
C) how to implement a harvesting strategy. 
D) which product groupings to offer. 
E) which products to reposition. 
A) how to implement the 80-20 rule. 
B) which products to group into meaningful categories. 
C) how to implement a harvesting strategy. 
D) which product groupings to offer. 
E) which products to reposition.

Question 18

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) expected market growth 
E) simplicity and cost of assigning potential buyers to segments 
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) expected market growth 
E) simplicity and cost of assigning potential buyers to segments

Question 19

Head-to-head positioning requires a product to

Accepted Answer

A) compete with products from competitors of the same size and country of origin. 
B) compete with competitors on similar product attributes but in a different market. 
C) compete with competitors on similar product attributes in the same market. 
D) compete against very similar products from its own company. 
E) compete against a single competitor with an identical offering. 
A) compete with products from competitors of the same size and country of origin. 
B) compete with competitors on similar product attributes but in a different market. 
C) compete with competitors on similar product attributes in the same market. 
D) compete against very similar products from its own company. 
E) compete against a single competitor with an identical offering.

Question 20

A market-product grid is a

Accepted Answer

A) visual representation of all products offered within a specific product class. 
B) framework used to compare the relative market share of one firm's product offerings to those of its competitors. 
C) technique that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies. 
D) framework used to relate the market segments of potential buyers to products offered or potential marketing actions by an organization. 
E) technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products. 
A) visual representation of all products offered within a specific product class. 
B) framework used to compare the relative market share of one firm's product offerings to those of its competitors. 
C) technique that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies. 
D) framework used to relate the market segments of potential buyers to products offered or potential marketing actions by an organization. 
E) technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products.

Exam 9: Market Segmentation, targeting, and Positioning

Describe the market segmentation process.

When considering the quick-service restaurant competition,it will be most important for Wendy's to consider not only the offerings of Burger King,McDonald's,Five Guys,and other hamburger chains but also the

Tony Hsieh invested in the company Zappos and

Behavioral segmentation may be based on

Samsung sells a variety of TVs,from simple and small ones to large smart TVs with Internet connectivity and 3-D technology.Customers prefer different features,so Samsung uses which type of segmentation variable based on their viewing preferences?

The process of segmenting a market and selecting specific segments as targets is the link between ________ and the organization's marketing program.

During its market segmentation process for the Nike LeBron 15 basketball shoe,which sells for more than $185 a pair,Nike decided to concentrate on affluent teens rather than members of high school basketball teams.This is an example of

Four general categories are used to segment consumer markets,one of which is

The Nielsen PRIZM® lifestyle segmentation is based on the belief that "birds of a feather flock together." It combines ________ with a geographic component.

Figure 9-11 -To effectively position a product or brand,companies take four steps,including which of these?

All of the following are market segmentation strategies except which?

The best segmentation approach is the one that

ChoiceShirts is an online company that makes made-to-order T-shirts.Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch.This is an example of

Usage rate refers to

What is market segmentation and why is it important?

Determining the size of specific markets within a market-product grid is helpful in determining which target market segments to select and

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

Head-to-head positioning requires a product to

A market-product grid is a

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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