Question 1

In today's market,there is an increasingly important trend toward microsegmentation,in which extremely small market segments are targeted.

Accepted Answer

A) True 
 B)False

Question 2

Purchasing structure is the degree to which the purchasing activity is centralized.

Accepted Answer

A) True 
 B)False

Question 3

In differentiated marketing,separate products and marketing programs are designed for the differing segments.

Accepted Answer

A) True 
 B)False

Question 4

Dividing the market for a particular type of automobile into customers who seek style and customers who seek durability is an example of:

Accepted Answer

A) mass marketing. 
B) product positioning. 
C) demand function modification. 
D) market segmentation. 
A) mass marketing. 
B) product positioning. 
C) demand function modification. 
D) market segmentation.

Question 5

In a centralized buying situation,the buyer is apt to:

Accepted Answer

A) be more sensitive to the user's need. 
B) emphasize product quality. 
C) minimize risk. 
D) be less cost-conscious. 
A) be more sensitive to the user's need. 
B) emphasize product quality. 
C) minimize risk. 
D) be less cost-conscious.

Question 6

Which of the following is NOT true in the context of today's market?

Accepted Answer

A) Population growth in most developed countries has accelerated,creating a number of opportunities for the maturing product-markets. 
B) Social and economic forces have produced customers with more varied and sophisticated needs and tastes. 
C) There is an increasingly important trend toward microsegmentation in which extremely small market segments are targeted. 
D) Many marketing organizations have made it easier to implement sharply focused marketing programs by more sharply targeting their own services. 
A) Population growth in most developed countries has accelerated,creating a number of opportunities for the maturing product-markets. 
B) Social and economic forces have produced customers with more varied and sophisticated needs and tastes. 
C) There is an increasingly important trend toward microsegmentation in which extremely small market segments are targeted. 
D) Many marketing organizations have made it easier to implement sharply focused marketing programs by more sharply targeting their own services.

Question 7

Maturing of product-markets in developed countries has reduced the intensity of competition in those markets.

Accepted Answer

A) True 
 B)False

Question 8

Diva,a clothing retailer,targets women between the ages of 25 to 55,earning an annual income of $80,000 or more,in a five-mile radius of their store.Which type of descriptor is being used in this case?

Accepted Answer

A) Education 
B) Geodemographics 
C) Race and ethnic origin 
D) Events 
A) Education 
B) Geodemographics 
C) Race and ethnic origin 
D) Events

Question 9

Which of the following steps involved in the construction of a market attractiveness/business position matrix requires that evidence-typically both qualitative and quantitative data-be collected to objectively assess each of the identified criteria to measure market attractiveness?

Accepted Answer

A) Choose criteria to measure market attractiveness and competitive position 
B) Assess the current position of each potential target market on each factor 
C) Project future position for each segment 
D) Rate segments on each factor and plot results on matrices 
A) Choose criteria to measure market attractiveness and competitive position 
B) Assess the current position of each potential target market on each factor 
C) Project future position for each segment 
D) Rate segments on each factor and plot results on matrices

Question 10

Trilogy,a cell phone manufacturing company has come out with a new model Vogue.This model is conceived and marketed as a "universal" cell,one that would meet the needs of all buyers.By eliminating optional features,the company is able to reduce costs and sell the product at an affordable price.This is an appropriate example of _____.

Accepted Answer

A) niche-marketing strategy 
B) growth-marketing strategy 
C) target marketing strategy 
D) mass-marketing strategy 
A) niche-marketing strategy 
B) growth-marketing strategy 
C) target marketing strategy 
D) mass-marketing strategy

Question 11

The flattening of the world has flattened unique cultural and national characteristics,and the idiosyncratic preferences of customers.

Accepted Answer

A) True 
 B)False

Question 12

The market-attractiveness/competitive-position matrix allows managers to decide which segments to target and how resources and marketing efforts should be allocated.

Accepted Answer

A) True 
 B)False

Question 13

Complete the following Market Attractiveness and Competitive Position chart (bold numbers are given,the remaining numbers in the "Total" column need to be calculated by the student).Using the results from the chart,complete a market attractiveness-competitive position matrix where 0-3 is low,4-7 is moderate and 8-10 is high on both axis.
 $$\begin{array} { l c c } 
& \text { Weight } & \text { Rating }&\text { Total } \
\text { Market Attractiveness Factors } & && \
\text { Customer needs and behavior: Unmet needs } & 0.5 & 9 &\
\text { Segment size and growth rate } & 0.3 & 7 &\
\text { Macro trends } & 0.2 & 8 &\
& && \
\text { Competitive Position Factors } & && \
\text { Opportunity for competitive advantage: } & 0.3 & 5 &\
\text { Capabilities and resources: } & 0.4 & 5 &\
\text { Industry attractiveness: } & 0.3 & 5&
\end{array}$$

Accepted Answer

The answer of Complete the following Market Attractiveness and Competitive...

Question 14

A trade area is the common platform where suppliers and buyers come together to discuss about their future transactions.

Accepted Answer

A) True 
 B)False

Question 15

The strategy of treating the people of developing countries as a single market segment has been successfully implemented by many companies.

Accepted Answer

A) True 
 B)False

Question 16

VALS 2 is a U.S.segmentation service that is built on the concept of self-orientation and resources for the individual.

Accepted Answer

A) True 
 B)False

Question 17

Customer needs are expressed in benefits sought from a particular product or service.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is the first step in the market segmentation process?

Accepted Answer

A) Specify criteria that define the segment 
B) Determine segment size and potential 
C) Identify a homogeneous segment that differs from other segments 
D) Create a unique brand image 
A) Specify criteria that define the segment 
B) Determine segment size and potential 
C) Identify a homogeneous segment that differs from other segments 
D) Create a unique brand image

Question 19

What are the factors that have made market segmentation one of the most dominant approaches to market strategy in recent years?

Accepted Answer

Market segmentation has become increasin

Question 20

When competitive position is medium and the market attractiveness is high,the firm's primary approach should be to:

Accepted Answer

A) invest to build. 
B) build selectively. 
C) manage for earnings. 
D) protect and refocus. 
A) invest to build. 
B) build selectively. 
C) manage for earnings. 
D) protect and refocus.

In today's market,there is an increasingly important trend toward microsegmentation,in which extremely small market segments are targeted.

Purchasing structure is the degree to which the purchasing activity is centralized.

In differentiated marketing,separate products and marketing programs are designed for the differing segments.

Dividing the market for a particular type of automobile into customers who seek style and customers who seek durability is an example of:

In a centralized buying situation,the buyer is apt to:

Which of the following is NOT true in the context of today's market?

Maturing of product-markets in developed countries has reduced the intensity of competition in those markets.

Diva,a clothing retailer,targets women between the ages of 25 to 55,earning an annual income of $80,000 or more,in a five-mile radius of their store.Which type of descriptor is being used in this case?

Which of the following steps involved in the construction of a market attractiveness/business position matrix requires that evidence-typically both qualitative and quantitative data-be collected to objectively assess each of the identified criteria to measure market attractiveness?

The flattening of the world has flattened unique cultural and national characteristics,and the idiosyncratic preferences of customers.

The market-attractiveness/competitive-position matrix allows managers to decide which segments to target and how resources and marketing efforts should be allocated.

A trade area is the common platform where suppliers and buyers come together to discuss about their future transactions.

The strategy of treating the people of developing countries as a single market segment has been successfully implemented by many companies.

VALS 2 is a U.S.segmentation service that is built on the concept of self-orientation and resources for the individual.

Customer needs are expressed in benefits sought from a particular product or service.

Which of the following is the first step in the market segmentation process?

What are the factors that have made market segmentation one of the most dominant approaches to market strategy in recent years?

When competitive position is medium and the market attractiveness is high,the firm's primary approach should be to:

The Marketing Management Process

The Marketing Implications of Corporate and Business Strategies

Understanding Market Opportunities

Understanding Consumer Buying Behavior

Understanding Organizational Markets and Buying Behavior

Measuring Market Opportunities: Forecasting and Market Knowledge

Differentiation and Brand Positioning

Business Strategies: a Foundation for Marketing Program Decisions

Product Decisions

Pricing Decisions

Distribution Channel Decisions

Integrated Promotion Decisions

Marketing Strategies for a Digitally Networked World

Strategies for New and Growing Markets

Strategies for Mature and Declining Markets

Organizing and Planning for Effective Implementation

Measuring and Delivering Marketing Performance

Filters

Exam 7: Targeting Attractive Market Segments

In today's market,there is an increasingly important trend toward microsegmentation,in which extremely small market segments are targeted.

Purchasing structure is the degree to which the purchasing activity is centralized.

In differentiated marketing,separate products and marketing programs are designed for the differing segments.

Dividing the market for a particular type of automobile into customers who seek style and customers who seek durability is an example of:

In a centralized buying situation,the buyer is apt to:

Which of the following is NOT true in the context of today's market?

Maturing of product-markets in developed countries has reduced the intensity of competition in those markets.

Diva,a clothing retailer,targets women between the ages of 25 to 55,earning an annual income of $80,000 or more,in a five-mile radius of their store.Which type of descriptor is being used in this case?

Which of the following steps involved in the construction of a market attractiveness/business position matrix requires that evidence-typically both qualitative and quantitative data-be collected to objectively assess each of the identified criteria to measure market attractiveness?

The flattening of the world has flattened unique cultural and national characteristics,and the idiosyncratic preferences of customers.

The market-attractiveness/competitive-position matrix allows managers to decide which segments to target and how resources and marketing efforts should be allocated.

A trade area is the common platform where suppliers and buyers come together to discuss about their future transactions.

The strategy of treating the people of developing countries as a single market segment has been successfully implemented by many companies.

VALS 2 is a U.S.segmentation service that is built on the concept of self-orientation and resources for the individual.

Customer needs are expressed in benefits sought from a particular product or service.

Which of the following is the first step in the market segmentation process?

What are the factors that have made market segmentation one of the most dominant approaches to market strategy in recent years?

When competitive position is medium and the market attractiveness is high,the firm's primary approach should be to:

The Marketing Management Process

The Marketing Implications of Corporate and Business Strategies

Understanding Market Opportunities

Understanding Consumer Buying Behavior

Understanding Organizational Markets and Buying Behavior

Measuring Market Opportunities: Forecasting and Market Knowledge

Differentiation and Brand Positioning

Business Strategies: a Foundation for Marketing Program Decisions

Product Decisions

Pricing Decisions

Distribution Channel Decisions

Integrated Promotion Decisions

Marketing Strategies for a Digitally Networked World

Strategies for New and Growing Markets

Strategies for Mature and Declining Markets

Organizing and Planning for Effective Implementation

Measuring and Delivering Marketing Performance

Filters