Question 1

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

Accepted Answer

The answer of What is product differentiation? How does it...

Question 2

Crescent-Puritan Laundry and Dry Cleaning uses last year's sales as a starting point to estimate next year's sales and then looks at positive and negative influences that may affect sales.This is an example of:

Accepted Answer

A) linear trend extrapolation. 
B) statistical inference. 
C) experimental estimation. 
D) a lost-horse forecast. 
A) linear trend extrapolation. 
B) statistical inference. 
C) experimental estimation. 
D) a lost-horse forecast.

Question 3

The Sporting News Baseball Yearbook uses 16 different covers featuring a baseball star from each of its regions in the United States.Four samples are shown in TB Figure 2.This is a great example of a: TB Figure: 2

Accepted Answer

A) interest-based segmentation. 
B) segmenting organizational markets. 
C) one product and multiple market segments. 
D) multiple products and multiple market segments. 
A) interest-based segmentation. 
B) segmenting organizational markets. 
C) one product and multiple market segments. 
D) multiple products and multiple market segments.

Question 4

A two-dimensional matrix with different product dimensions on X and Y axes showing how different products and/or brands are perceived by customers according to those dimensions is known as a:

Accepted Answer

A) positioning strategy. 
B) database. 
C) perceptual map. 
D) cognitive map. 
A) positioning strategy. 
B) database. 
C) perceptual map. 
D) cognitive map.

Question 5

When Mikki asked her father for his advice about marketing software for the disabled,he told her,"Reaching a segment requires a simple but effective marketing action.If no such action exists,don't segment." Mikki's father is expressing concern about the:

Accepted Answer

A) feasibility of marketing actions to reach the segment. 
B) different needs of buyers among different segments. 
C) similarity of needs of potential buyers within a segment. 
D) simplicity and cost of assigning potential buyers to segments. 
A) feasibility of marketing actions to reach the segment. 
B) different needs of buyers among different segments. 
C) similarity of needs of potential buyers within a segment. 
D) simplicity and cost of assigning potential buyers to segments.

Question 6

Which of the following is NOT a criterion used in forming segments?

Accepted Answer

A) potential for increased profit and ROI 
B) similarity of needs of potential buyers within a segment 
C) competitive position 
D) feasibility of marketing action to reach a segment 
A) potential for increased profit and ROI 
B) similarity of needs of potential buyers within a segment 
C) competitive position 
D) feasibility of marketing action to reach a segment

Question 7

When Apple initially launched the iPhone,their major focus was on the high-end consumer market.Apple has spent significant time attempting to change the perception of business' who do not view the phone as a business phone,but rather a consumer phone,and therefore,do not issue it to their employees.Apple is working hard at _____________ the iPhone.

Accepted Answer

A) perceptual mapping 
B) product positioning 
C) product differentiation 
D) repositioning 
A) perceptual mapping 
B) product positioning 
C) product differentiation 
D) repositioning

Question 8

TB Figure: 1  
-Cell "A" in TB Figure 1 represents which stage of the market segmentation process?

Accepted Answer

A) Link needs to actions 
B) Identify market needs 
C) Establish a marketing protocol 
D) Execute marketing program actions 
A) Link needs to actions 
B) Identify market needs 
C) Establish a marketing protocol 
D) Execute marketing program actions

Question 9

Australia-based Renewable Energy Ltd.sells a device that converts manure into energy.One of the $10 million devices is capable of generating energy equal to $2 million of natural gas per year.The company believes its target market is businesses that use a lot of energy like its first customer,a fertilizer manufacturer,and that are located in rural areas.It will use which of the following strategies to segment its market?

Accepted Answer

A) Benefits sought and geographic. 
B) Number of employees and benefits sought. 
C) Purchase location and purchase type. 
D) Demographic and geographic. 
A) Benefits sought and geographic. 
B) Number of employees and benefits sought. 
C) Purchase location and purchase type. 
D) Demographic and geographic.

Question 10

PepsiCo sells a bottled water product to those that are health conscious.They also sell Pepsi to those that need a 'sugar rush' and 'caffeine wake-up' to get them through the afternoon.What strategy is PepsiCo using?

Accepted Answer

A) Dual distribution. 
B) Market differentiation. 
C) Product differentiation. 
D) Market penetration. 
A) Dual distribution. 
B) Market differentiation. 
C) Product differentiation. 
D) Market penetration.

Question 11

When you consider purchasing a basic hamburger at a fast food restaurant,the marketing material likely used by the restaurant is one that focuses on ____________ positioning.

Accepted Answer

A) head-to-head 
B) psychological 
C) segmentation 
D) cross tabulated 
A) head-to-head 
B) psychological 
C) segmentation 
D) cross tabulated

Question 12

The least complex sales forecasting technique is the:

Accepted Answer

A) direct forecast. 
B) survey of buyers' intentions forecast. 
C) trend extrapolation. 
D) Delphi forecast. 
A) direct forecast. 
B) survey of buyers' intentions forecast. 
C) trend extrapolation. 
D) Delphi forecast.

Question 13

Evergreen Air Center in Marana,Arizona,is the world's biggest parking lot for unwanted commercial aircraft.Airlines pay from $750 to $5,000 a month for its storage service.The warm,dry air where the operation is located serves as a cheap and effective airplane preservative.Which organizational segmentation variables might Evergreen use to segment its market?

Accepted Answer

A) NAICS codes and benefits sought 
B) number of locations and benefits sought 
C) location and demographics 
D) NAICS sectors and number of locations 
A) NAICS codes and benefits sought 
B) number of locations and benefits sought 
C) location and demographics 
D) NAICS sectors and number of locations

Question 14

One bank determined through detailed segmentation analysis that certain customers were clearly less profitable,or even unprofitable,to serve compared with others.They started to charge a fee to those high-cost,low-profit customers if they used a teller at a branch or if they phoned a call centre for customer assistance.Many of these customers,upon finding charges of $2 per contact,decided to leave the bank,which is exactly what the bank intended.It could be said that the bank used ______ customers.

Accepted Answer

A) segmentation of 
B) de-segmentation of 
C) de-selection of 
D) de-servicing of 
A) segmentation of 
B) de-segmentation of 
C) de-selection of 
D) de-servicing of

Question 15

According to the text,which of the following is a criterion for selecting a target market?

Accepted Answer

A) similarity of needs of potential buyers within a segment 
B) difference of needs of buyers between segments 
C) expected growth of segment 
D) simplicity and cost of assigning potential buyers to segments 
A) similarity of needs of potential buyers within a segment 
B) difference of needs of buyers between segments 
C) expected growth of segment 
D) simplicity and cost of assigning potential buyers to segments

Question 16

Which two aspects does a market-product grid relate?

Accepted Answer

A) Estimated expenses for products sold to various market segments. 
B) Total anticipated revenue for each product to market segments. 
C) Total anticipated profit for each product to segments. 
D) The segments of a market to products offered or potential marketing actions by the firm. 
A) Estimated expenses for products sold to various market segments. 
B) Total anticipated revenue for each product to market segments. 
C) Total anticipated profit for each product to segments. 
D) The segments of a market to products offered or potential marketing actions by the firm.

Question 17

Which of the following is NOT a basis used to segment organizational markets?

Accepted Answer

A) geographic 
B) psychographic 
C) annual sales volume 
D) usage rate 
A) geographic 
B) psychographic 
C) annual sales volume 
D) usage rate

Question 18

When Harold Hansen was marketing manager at Creative Concepts Manufacturing Company,he estimated the company would sell a total of 500,000 of their new sandstone coasters decorated with Native American petroglyphs the first year on the market although the company had never before produced a product like that.What is this type of estimate called?

Accepted Answer

A) a buildup forecast 
B) a direct forecast 
C) a lost-horse forecast 
D) a Delphi forecast 
A) a buildup forecast 
B) a direct forecast 
C) a lost-horse forecast 
D) a Delphi forecast

Question 19

Assume you are manager of the Outback SteakHouse,a franchised restaurant that has newly opened in St.Louis.Describe how you would segment the market according to dimension,using as many segmentation variables as you can,and explaining why each variable is appropriate.

Accepted Answer

The answer of Assume you are manager of the Outback...

Question 20

Figure: 9-8  
-The perceptual map in Figure 9-8 shows how various drinks are seen in the minds of adult consumers.Suppose a coffee producer wants to increase sales.Its advertising agency recommends that it run ads showing that coffee is healthier than one or more competitive drinks shown in the figure.In the ads,coffee should be compared with

Accepted Answer

A) skinny lattes. 
B) fruit-flavoured drinks. 
C) sugared soft drinks. 
D) fruit-flavoured drinks and sugared soft drinks. 
A) skinny lattes. 
B) fruit-flavoured drinks. 
C) sugared soft drinks. 
D) fruit-flavoured drinks and sugared soft drinks.

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

Crescent-Puritan Laundry and Dry Cleaning uses last year's sales as a starting point to estimate next year's sales and then looks at positive and negative influences that may affect sales.This is an example of:

The Sporting News Baseball Yearbook uses 16 different covers featuring a baseball star from each of its regions in the United States.Four samples are shown in TB Figure 2.This is a great example of a: TB Figure: 2

A two-dimensional matrix with different product dimensions on X and Y axes showing how different products and/or brands are perceived by customers according to those dimensions is known as a:

When Mikki asked her father for his advice about marketing software for the disabled,he told her,"Reaching a segment requires a simple but effective marketing action.If no such action exists,don't segment." Mikki's father is expressing concern about the:

Which of the following is NOT a criterion used in forming segments?

TB Figure: 1 -Cell "A" in TB Figure 1 represents which stage of the market segmentation process?

PepsiCo sells a bottled water product to those that are health conscious.They also sell Pepsi to those that need a 'sugar rush' and 'caffeine wake-up' to get them through the afternoon.What strategy is PepsiCo using?

When you consider purchasing a basic hamburger at a fast food restaurant,the marketing material likely used by the restaurant is one that focuses on ____________ positioning.

The least complex sales forecasting technique is the:

According to the text,which of the following is a criterion for selecting a target market?

Which two aspects does a market-product grid relate?

Which of the following is NOT a basis used to segment organizational markets?

Assume you are manager of the Outback SteakHouse,a franchised restaurant that has newly opened in St.Louis.Describe how you would segment the market according to dimension,using as many segmentation variables as you can,and explaining why each variable is appropriate.

Marketing: Customer Value, satisfaction, relationships, and Experiences

Developing Successful Marketing Strategies

Scanning the Marketing Environment

Ethics and Social Responsibility in Marketing

Consumer Behaviour

Organizational Markets and Buyer Behaviour

Reaching Global Markets

Marketing Research: From Information to Action

Developing New Products and Services

Managing Products and Brands

Managing Services

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Personal Selling and Sales Management

Pulling It All Together: The Strategic Marketing Process

Using Social Media to Connect With Consumers

Filters

Exam 9: Market Segmentation, Targeting, and Positioning

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

Crescent-Puritan Laundry and Dry Cleaning uses last year's sales as a starting point to estimate next year's sales and then looks at positive and negative influences that may affect sales.This is an example of:

The Sporting News Baseball Yearbook uses 16 different covers featuring a baseball star from each of its regions in the United States.Four samples are shown in TB Figure 2.This is a great example of a: TB Figure: 2

A two-dimensional matrix with different product dimensions on X and Y axes showing how different products and/or brands are perceived by customers according to those dimensions is known as a:

When Mikki asked her father for his advice about marketing software for the disabled,he told her,"Reaching a segment requires a simple but effective marketing action.If no such action exists,don't segment." Mikki's father is expressing concern about the:

Which of the following is NOT a criterion used in forming segments?

TB Figure: 1 -Cell "A" in TB Figure 1 represents which stage of the market segmentation process?

PepsiCo sells a bottled water product to those that are health conscious.They also sell Pepsi to those that need a 'sugar rush' and 'caffeine wake-up' to get them through the afternoon.What strategy is PepsiCo using?

When you consider purchasing a basic hamburger at a fast food restaurant,the marketing material likely used by the restaurant is one that focuses on ____________ positioning.

The least complex sales forecasting technique is the:

According to the text,which of the following is a criterion for selecting a target market?

Which two aspects does a market-product grid relate?

Which of the following is NOT a basis used to segment organizational markets?

Assume you are manager of the Outback SteakHouse,a franchised restaurant that has newly opened in St.Louis.Describe how you would segment the market according to dimension,using as many segmentation variables as you can,and explaining why each variable is appropriate.

Marketing: Customer Value, satisfaction, relationships, and Experiences

Developing Successful Marketing Strategies

Scanning the Marketing Environment

Ethics and Social Responsibility in Marketing

Consumer Behaviour

Organizational Markets and Buyer Behaviour

Reaching Global Markets

Marketing Research: From Information to Action

Developing New Products and Services

Managing Products and Brands

Managing Services

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Personal Selling and Sales Management

Pulling It All Together: The Strategic Marketing Process

Using Social Media to Connect With Consumers

Filters