Question 1

When it first opened stores across the United States, Bateman's, an office supply chain store, had the best product selection, the best service, and the lowest prices compared to other office supply chain stores. As a result, Bateman's captured a significant chunk of the market in the short run. Which of the following positioning strategies did Bateman's most likely use?

Accepted Answer

A)  more for the same 
B)  more for less 
C)  same for less 
D)  less for much less 
E)  more for more

Question 2

________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Accepted Answer

A)  Mass customization 
B)  Positioning 
C)  Segmentation 
D)  Differentiation 
E)  Targeting

Question 3

Using ________, marketers form segments of consumers who have similar needs and buying behaviors even though they are located in different countries.

Accepted Answer

A)  psychographic segmentation 
B)  demographic segmentation 
C)  occasion segmentation 
D)  benefit segmentation 
E)  intermarket segmentation

Question 4

Even when competing offers look the same, buyers may perceive a difference based on ________ differentiation.

Accepted Answer

A)  image 
B)  people 
C)  price 
D)  channel 
E)  services

Question 5

Briefly describe occasion segmentation.

Accepted Answer

The answer of Briefly describe occasion segmentation....

Question 6

________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Accepted Answer

A)  Geographic 
B)  Benefit 
C)  Occasion 
D)  Psychographic 
E)  Demographic

Question 7

Which of the following states the product's membership in a category and then shows its point of difference from other members of the category?

Accepted Answer

A)  a mission statement 
B)  a vision statement 
C)  a general need description 
D)  a positioning statement 
E)  an order-routine specification

Question 8

GamaPix makes point-and-shoot cameras and handycams for amateur photographers and hobbyists. It also has a separate line of cameras dedicated to professional photographers. Additionally, it designs separate offers for each segment. Which of the following marketing strategies does GamaPix most likely use in this instance?

Accepted Answer

A)  mass marketing 
B)  differentiated marketing 
C)  individual marketing 
D)  local marketing 
E)  direct marketing

Question 9

Which of the following is true with regard to the same for less value proposition?

Accepted Answer

A)  Discount stores and "category killers" rarely use the same for less value proposition. 
B)  The same for less value proposition is mostly offered by marketers who sell higher quality upscale products or services. 
C)  The same for less value proposition cannot generate profits. 
D)  Offering the same for less can be a powerful value proposition because everyone likes a good deal. 
E)  The same for less positioning involves meeting consumers' lower performance or quality requirements at a much lower price.

Question 10

Delta Motorworks markets its cars based on the age, gender, and income of its customers. Which of the following types of market segmentation is evident here?

Accepted Answer

A)  geographic segmentation 
B)  benefit segmentation 
C)  occasion segmentation 
D)  demographic segmentation 
E)  psychographic segmentation

Question 11

When the size, purchasing power, and profiles of a market segment can be calculated, the market is ________.

Accepted Answer

A)  measurable 
B)  profitable 
C)  substantial 
D)  actionable 
E)  competitive

Question 12

Firms that practice product differentiation gain competitive advantage through the way they design their channel's coverage, expertise, and performance.

Accepted Answer

A) True 
 B)False

Question 13

A catalog retailer in the United States has identified African American professionals between the ages of 35 and 45 as a group of potential customers for its products. The retailer plans to direct its marketing efforts toward this group of consumers. Which of the following market segmentation variables was most likely used by the catalog retailer?

Accepted Answer

A)  demographic 
B)  psychographic 
C)  user status 
D)  loyalty status 
E)  usage rate

Question 14

Product differentiation refers to the way a product is defined by consumers on important attributes-the place the product occupies in consumers' minds relative to competing products.

Accepted Answer

A) True 
 B)False

Question 15

Niche marketing involves tailoring brands and promotions to the needs and wants of local customer groups-cities, neighborhoods, and even specific stores.

Accepted Answer

A) True 
 B)False

Question 16

Calypso Motors recently rolled out its hatchback, Proteus. Proteus combines the attractiveness of a luxury car with the excellent agility of a sports car. Calypso Motors is confident that Proteus will appeal to both sport scar enthusiasts as well as the luxury segment. Which of the following types of market segmentation is evident here?

Accepted Answer

A)  gender segmentation 
B)  income segmentation 
C)  benefit segmentation 
D)  geographic segmentation 
E)  age and life-cycle segmentation

Question 17

________ positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs.

Accepted Answer

A)  More for the same 
B)  More for less 
C)  Same for less 
D)  Less for much less 
E)  More for more

Question 18

Sanguine Services is a small company that uses a marketing strategy in which its limited resources are employed to target a large share of two small market segments. Sanguine most likely uses which of the following marketing strategies?

Accepted Answer

A)  individual marketing 
B)  one-to-one marketing 
C)  mass marketing 
D)  concentrated marketing 
E)  trigger-based marketing

Question 19

Why do international markets need to be segmented?

Accepted Answer

The answer of Why do international markets need to be...

Question 20

Which of the following is true about multivariable segmentation systems?

Accepted Answer

A)  Marketers using multiple segmentation bases tend to ignore smaller markets. 
B)  Marketers often use multiple segmentation bases to control inflation. 
C)  Multiple segmentation rarely involves the use of demographic data. 
D)  Multiple segmentation is ineffective in large markets. 
E)  Multiple segmentation bases help identify smaller, better-defined target groups.

Exam 7: Customer-Driven Marketing Strategy: Creating Value for Target Customers

________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Using ________, marketers form segments of consumers who have similar needs and buying behaviors even though they are located in different countries.

Even when competing offers look the same, buyers may perceive a difference based on ________ differentiation.

Briefly describe occasion segmentation.

________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

Which of the following states the product's membership in a category and then shows its point of difference from other members of the category?

Which of the following is true with regard to the same for less value proposition?

Delta Motorworks markets its cars based on the age, gender, and income of its customers. Which of the following types of market segmentation is evident here?

When the size, purchasing power, and profiles of a market segment can be calculated, the market is ________.

Firms that practice product differentiation gain competitive advantage through the way they design their channel's coverage, expertise, and performance.

Product differentiation refers to the way a product is defined by consumers on important attributes-the place the product occupies in consumers' minds relative to competing products.

Niche marketing involves tailoring brands and promotions to the needs and wants of local customer groups-cities, neighborhoods, and even specific stores.

________ positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs.

Sanguine Services is a small company that uses a marketing strategy in which its limited resources are employed to target a large share of two small market segments. Sanguine most likely uses which of the following marketing strategies?

Why do international markets need to be segmented?

Which of the following is true about multivariable segmentation systems?