Question 1

The concept of being identifiable as a prerequisite for market segmentation refers to the fact that:

Accepted Answer

A)  the customers in a particular segment should react similarly and positively to a firm's offering. 
B)  market segments should be accessible to firms through persuasive communications and product distribution. 
C)  market segments should be distinct from one another for a firm to be able to design products or services to meet their needs. 
D)  the buying power of consumers should be high enough to generate substantial profits. 
E)  market segments should overlap to a great extent to facilitate marketing mix activities. 
A)  the customers in a particular segment should react similarly and positively to a firm's offering. 
B)  market segments should be accessible to firms through persuasive communications and product distribution. 
C)  market segments should be distinct from one another for a firm to be able to design products or services to meet their needs. 
D)  the buying power of consumers should be high enough to generate substantial profits. 
E)  market segments should overlap to a great extent to facilitate marketing mix activities.

Question 2

Brand repositioning is the strategy used by marketers to change a brand's name without realigning the brand's core emphasis.

Accepted Answer

A) True 
 B)False

Question 3

Self-value is the image people have of themselves.

Accepted Answer

A) True 
 B)False

Question 4

Pete's is a car rental company.It promotes itself with the line "Pete's is second to the best.So,we strive harder." When Pete's tries to create an image in the mind of the customer that it tries harder than the No.1 rental company to fulfil the demands of customers,it is using:

Accepted Answer

A)  brand repositioning. 
B)  positioning. 
C)  perceptual mapping. 
D)  mass marketing. 
E)  micromarketing. 
A)  brand repositioning. 
B)  positioning. 
C)  perceptual mapping. 
D)  mass marketing. 
E)  micromarketing.

Question 5

Geographic segmentation refers to the segmentation of consumers based on:

Accepted Answer

A)  the worth that they get from products or services. 
B)  where they live. 
C)  their product preferences. 
D)  their level of intelligence. 
E)  easily measured,objective characteristics such as age and education. 
A)  the worth that they get from products or services. 
B)  where they live. 
C)  their product preferences. 
D)  their level of intelligence. 
E)  easily measured,objective characteristics such as age and education.

Question 6

Goals for life,not just the goals one wants to accomplish in a day,are called:

Accepted Answer

A)  self-concepts. 
B)  ideal points. 
C)  self-values. 
D)  lifestyles. 
E)  self-morals. 
A)  self-concepts. 
B)  ideal points. 
C)  self-values. 
D)  lifestyles. 
E)  self-morals.

Question 7

A company sells baseball bats.It has a website where customers can log in and choose from out of 50 variations with regard to the weight,length,thickness,and design of the bat.The customers get a bat based on their own specifications.This is an example of:

Accepted Answer

A)  mass customization. 
B)  brand repositioning. 
C)  perceptual mapping. 
D)  ideal positioning. 
E)  mass marketing. 
A)  mass customization. 
B)  brand repositioning. 
C)  perceptual mapping. 
D)  ideal positioning. 
E)  mass marketing.

Question 8

Self-respect,self-fulfillment,or a sense of belonging are typically examples of:

Accepted Answer

A)  perceptual maps. 
B)  demographics. 
C)  self-value goals. 
D)  situational objectives. 
E)  self-morals. 
A)  perceptual maps. 
B)  demographics. 
C)  self-value goals. 
D)  situational objectives. 
E)  self-morals.

Question 9

Skincare Inc.,a company known for its women's skin-care products,starts offering skin-care products specifically developed for men.In this case,the segmentation approach used by the company is:

Accepted Answer

A)  geographic segmentation. 
B)  behavioural segmentation. 
C)  demographic segmentation. 
D)  occasion segmentation. 
E)  psychographic segmentation. 
A)  geographic segmentation. 
B)  behavioural segmentation. 
C)  demographic segmentation. 
D)  occasion segmentation. 
E)  psychographic segmentation.

Question 10

Explain the concept of PSYTE cluster profiles.

Accepted Answer

One tool used by Canada Post for geodemo

Question 11

A crane manufacturing company that solely manufactures and sells salvage cranes for salvage companies is using which strategy?

Accepted Answer

A)  Perceptual mapping 
B)  Brand repositioning 
C)  Ideal point 
D)  Undifferentiated targeting 
E)  Concentrated targeting 
A)  Perceptual mapping 
B)  Brand repositioning 
C)  Ideal point 
D)  Undifferentiated targeting 
E)  Concentrated targeting

Question 12

Magas is a business information service provider that helps companies by dividing the consumer market into different consumer segments.One such segment consists of neighbourhoods that are populated by wealthy families.People in this segment are more likely to take vacations on cruises and store money in offshore banks.To identify this segment,Magas has used:

Accepted Answer

A)  differentiated segmentation. 
B)  behavioural segmentation. 
C)  geodemographic segmentation. 
D)  undifferentiated segmentation. 
E)  concentrated segmentation. 
A)  differentiated segmentation. 
B)  behavioural segmentation. 
C)  geodemographic segmentation. 
D)  undifferentiated segmentation. 
E)  concentrated segmentation.

Question 13

Entrepreneurial startup ventures often benefit from using a differentiated strategy,which allows them to employ their limited resources more efficiently.

Accepted Answer

A) True 
 B)False

Question 14

Belco,a fast-food chain,targets young males as they account for almost 75 percent of all customers.They are called Jumbo customers.Belco has segmented its customers on the basis of usage rate,with the Jumbo customers being the heavy users.To segment its customers,Belco is using:

Accepted Answer

A)  geographic segmentation. 
B)  behavioural segmentation. 
C)  psychological segmentation. 
D)  geodemographic segmentation. 
E)  partial segmentation. 
A)  geographic segmentation. 
B)  behavioural segmentation. 
C)  psychological segmentation. 
D)  geodemographic segmentation. 
E)  partial segmentation.

Question 15

When the car did not do well in the premium segment,Revolve changed its target segment.It lowered the price and aimed the product at the middle-income bracket.This is called:

Accepted Answer

A)  brand repositioning. 
B)  undifferentiated positioning. 
C)  perceptual mapping. 
D)  mass marketing. 
E)  micro customization. 
A)  brand repositioning. 
B)  undifferentiated positioning. 
C)  perceptual mapping. 
D)  mass marketing. 
E)  micro customization.

Question 16

An upscale restaurant that previously flourished on expense account dinners and corporate events has also started stressing value as a sales tool.This is an example of:

Accepted Answer

A)  brand repositioning. 
B)  undifferentiated positioning. 
C)  perceptual mapping. 
D)  mass marketing. 
E)  micro customization. 
A)  brand repositioning. 
B)  undifferentiated positioning. 
C)  perceptual mapping. 
D)  mass marketing. 
E)  micro customization.

Question 17

The degree to which firms should segment their markets depends on the balance the firms want to achieve between the added perceived customer value that segmentation can offer and its cost.

Accepted Answer

A) True 
 B)False

Question 18

James lives in a small fishing town and builds boats for a living.He lets his customers choose their own specifications for the boats they want to purchase.This includes the colour,design,and material of the boat.This is an example of:

Accepted Answer

A)  brand repositioning. 
B)  positioning. 
C)  perceptual mapping. 
D)  mass marketing. 
E)  micromarketing. 
A)  brand repositioning. 
B)  positioning. 
C)  perceptual mapping. 
D)  mass marketing. 
E)  micromarketing.

Question 19

Telaware promoted itself as a single-stop office supply superstore where people could buy everything for their offices under one roof.Telaware soon found that the marketplace was crowded with retailers offering the same.Therefore,it decided to change the way it projected itself.It now differentiates itself from other retailers by promising customers an easier shopping experience.This is an example of:

Accepted Answer

A)  brand repositioning. 
B)  undifferentiated positioning. 
C)  perceptual mapping. 
D)  mass marketing. 
E)  micro customization. 
A)  brand repositioning. 
B)  undifferentiated positioning. 
C)  perceptual mapping. 
D)  mass marketing. 
E)  micro customization.

Question 20

Tremlock is a company that sells used cars.It was able to establish itself in the mind of the consumer as a low-cost,high-quality used-car dealer as an alternative to low-cost,low-quality new-car dealer.This is an example of:

Accepted Answer

A)  differentiated targeting. 
B)  positioning. 
C)  perceptual mapping. 
D)  mass customization. 
E)  micromarketing. 
A)  differentiated targeting. 
B)  positioning. 
C)  perceptual mapping. 
D)  mass customization. 
E)  micromarketing.

The concept of being identifiable as a prerequisite for market segmentation refers to the fact that:

Brand repositioning is the strategy used by marketers to change a brand's name without realigning the brand's core emphasis.

Self-value is the image people have of themselves.

Pete's is a car rental company.It promotes itself with the line "Pete's is second to the best.So,we strive harder." When Pete's tries to create an image in the mind of the customer that it tries harder than the No.1 rental company to fulfil the demands of customers,it is using:

Geographic segmentation refers to the segmentation of consumers based on:

Goals for life,not just the goals one wants to accomplish in a day,are called:

A company sells baseball bats.It has a website where customers can log in and choose from out of 50 variations with regard to the weight,length,thickness,and design of the bat.The customers get a bat based on their own specifications.This is an example of:

Self-respect,self-fulfillment,or a sense of belonging are typically examples of:

Skincare Inc.,a company known for its women's skin-care products,starts offering skin-care products specifically developed for men.In this case,the segmentation approach used by the company is:

Explain the concept of PSYTE cluster profiles.

A crane manufacturing company that solely manufactures and sells salvage cranes for salvage companies is using which strategy?

Entrepreneurial startup ventures often benefit from using a differentiated strategy,which allows them to employ their limited resources more efficiently.

Belco,a fast-food chain,targets young males as they account for almost 75 percent of all customers.They are called Jumbo customers.Belco has segmented its customers on the basis of usage rate,with the Jumbo customers being the heavy users.To segment its customers,Belco is using:

When the car did not do well in the premium segment,Revolve changed its target segment.It lowered the price and aimed the product at the middle-income bracket.This is called:

An upscale restaurant that previously flourished on expense account dinners and corporate events has also started stressing value as a sales tool.This is an example of:

The degree to which firms should segment their markets depends on the balance the firms want to achieve between the added perceived customer value that segmentation can offer and its cost.

James lives in a small fishing town and builds boats for a living.He lets his customers choose their own specifications for the boats they want to purchase.This includes the colour,design,and material of the boat.This is an example of:

Tremlock is a company that sells used cars.It was able to establish itself in the mind of the consumer as a low-cost,high-quality used-car dealer as an alternative to low-cost,low-quality new-car dealer.This is an example of:

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Marketing Ethics

Analyzing the Market Environment

Consumer Behavior

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters

Exam 6: Business-To-Business Marketing

The concept of being identifiable as a prerequisite for market segmentation refers to the fact that:

Brand repositioning is the strategy used by marketers to change a brand's name without realigning the brand's core emphasis.

Self-value is the image people have of themselves.

Pete's is a car rental company.It promotes itself with the line "Pete's is second to the best.So,we strive harder." When Pete's tries to create an image in the mind of the customer that it tries harder than the No.1 rental company to fulfil the demands of customers,it is using:

Geographic segmentation refers to the segmentation of consumers based on:

Goals for life,not just the goals one wants to accomplish in a day,are called:

A company sells baseball bats.It has a website where customers can log in and choose from out of 50 variations with regard to the weight,length,thickness,and design of the bat.The customers get a bat based on their own specifications.This is an example of:

Self-respect,self-fulfillment,or a sense of belonging are typically examples of:

Skincare Inc.,a company known for its women's skin-care products,starts offering skin-care products specifically developed for men.In this case,the segmentation approach used by the company is:

Explain the concept of PSYTE cluster profiles.

A crane manufacturing company that solely manufactures and sells salvage cranes for salvage companies is using which strategy?

Entrepreneurial startup ventures often benefit from using a differentiated strategy,which allows them to employ their limited resources more efficiently.

Belco,a fast-food chain,targets young males as they account for almost 75 percent of all customers.They are called Jumbo customers.Belco has segmented its customers on the basis of usage rate,with the Jumbo customers being the heavy users.To segment its customers,Belco is using:

When the car did not do well in the premium segment,Revolve changed its target segment.It lowered the price and aimed the product at the middle-income bracket.This is called:

An upscale restaurant that previously flourished on expense account dinners and corporate events has also started stressing value as a sales tool.This is an example of:

The degree to which firms should segment their markets depends on the balance the firms want to achieve between the added perceived customer value that segmentation can offer and its cost.

James lives in a small fishing town and builds boats for a living.He lets his customers choose their own specifications for the boats they want to purchase.This includes the colour,design,and material of the boat.This is an example of:

Tremlock is a company that sells used cars.It was able to establish itself in the mind of the consumer as a low-cost,high-quality used-car dealer as an alternative to low-cost,low-quality new-car dealer.This is an example of:

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Marketing Ethics

Analyzing the Market Environment

Consumer Behavior

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters