Question 1

A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each is known as ________.

Accepted Answer

A)  mass marketing 
B)  differentiated marketing 
C)  concentrated marketing 
D)  individual marketing 
E)  cross-marketing

Question 2

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.

Question 3

Why do international markets need to be segmented?

Accepted Answer

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

Question 4

________ 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 5

________ segmentation refers to dividing the market into segments according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item.

Accepted Answer

A)  Gender 
B)  Psychographic 
C)  Occasion 
D)  Geographic 
E)  Income

Question 6

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 7

Pierre's Mart, a grocery store in New Orleans, Louisiana, offers less merchandise selection and fairly low levels of service. Despite the lackluster service and limited selection of merchandise, customers still flock to Pierre's because it charges rock-bottom prices. Pierre's Mart most likely uses the ________ positioning.

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 8

________ positioning involves meeting consumers' lower performance or quality requirements at a much lower price.

Accepted Answer

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

Question 9

A ________ consists of a set of buyers who share common needs or characteristics that the company decides to serve.

Accepted Answer

A)  marketing channel 
B)  citizen-action group 
C)  distribution channel 
D)  target market 
E)  customer franchise

Question 10

Kia Motors offers a new car model with the same features as other cars in the same segment. However, Kia's model is priced higher than its two main competitors. Kia is following a more-for-less positioning strategy.

Accepted Answer

A) True 
 B)False

Question 11

________ marketing is more suited for products that vary in design.

Accepted Answer

A)  Mass 
B)  Local 
C)  Direct 
D)  Differentiated 
E)  Individual

Question 12

Refer to the scenario below to answer the following question(s).
Ruben Delgado was making wooden pens and pencils, which had unique engravings, as a hobby until Simon Yoder recognized Ruben's talent. Simon immediately ordered 250 pens and pencils of various styles to be displayed in his shop's showcase. Within three months, the wooden pencils were a hit with all students! Ruben Delgado had never thought of marketing his talent, but Simon's enthusiasm and the recent sales were enough to change his mind.
With limited resources, Ruben contacted three additional specialty shops within 100 miles that were situated near schools. He explained his manufacturing processes and engraving options to each. All three shop owners placed a trial order. Within two months, just prior to the holiday season, each shop owner placed an additional order. Ruben was ecstatic! "I figured business would slow down after that," Ruben stated, "but in February I was contacted by Elmore Distributors. At that point, I had to make a huge decision about how far I wanted to go with this business."
Elmore Distributors provides products for school fundraisers in a seven-state area. Ruben was offered a two-year contract and immediate inclusion in Elmore's promotional flyer. Ruben Delgado accepted the offer and, along with it, the responsibility to produce thousands of wooden pens and pencils. "I had to get a grip on the magnitude of this project," Ruben added. He decided to place his major focus on the large contract with Elmore. However, to avoid placing his total emphasis with one customer, Ruben continued nurturing his four previously established accounts without targeting any additional customers.
"At this point, I had set up an assembly line in a rented building," Ruben explained. "I had to hire three full-time employees to work the line while I managed the customer orders and purchased materials." Ruben paused. "But I can't take the Elmore project for granted. It might not always be there. I'll have to have a good alternate plan if that day comes."
-In the scenario, Ruben has segmented his market based on ________.

Accepted Answer

A)  geography 
B)  benefits sought 
C)  occasion 
D)  degree of loyalty 
E)  demographics

Question 13

Pacific Fisheries divides its customers into different regional units, such as Asia, Australia, and the Americas. This is an example of ________ segmentation.

Accepted Answer

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

Question 14

________ marketing is more suited for uniform products, such as grapefruit or steel.

Accepted Answer

A)  Niche 
B)  Undifferentiated 
C)  One-to-one 
D)  Trigger-based 
E)  Local

Question 15

Rex Steelworks makes steel sheets which the firm markets and sells to companies all over the world. Which of the following marketing strategies is most suitable for Rex Steelworks?

Accepted Answer

A)  one-to-one marketing 
B)  undifferentiated marketing 
C)  individual marketing 
D)  local marketing 
E)  trigger-based marketing

Question 16

Refer to the scenario below to answer the following question(s).
Ruben Delgado was making wooden pens and pencils, which had unique engravings, as a hobby until Simon Yoder recognized Ruben's talent. Simon immediately ordered 250 pens and pencils of various styles to be displayed in his shop's showcase. Within three months, the wooden pencils were a hit with all students! Ruben Delgado had never thought of marketing his talent, but Simon's enthusiasm and the recent sales were enough to change his mind.
With limited resources, Ruben contacted three additional specialty shops within 100 miles that were situated near schools. He explained his manufacturing processes and engraving options to each. All three shop owners placed a trial order. Within two months, just prior to the holiday season, each shop owner placed an additional order. Ruben was ecstatic! "I figured business would slow down after that," Ruben stated, "but in February I was contacted by Elmore Distributors. At that point, I had to make a huge decision about how far I wanted to go with this business."
Elmore Distributors provides products for school fundraisers in a seven-state area. Ruben was offered a two-year contract and immediate inclusion in Elmore's promotional flyer. Ruben Delgado accepted the offer and, along with it, the responsibility to produce thousands of wooden pens and pencils. "I had to get a grip on the magnitude of this project," Ruben added. He decided to place his major focus on the large contract with Elmore. However, to avoid placing his total emphasis with one customer, Ruben continued nurturing his four previously established accounts without targeting any additional customers.
"At this point, I had set up an assembly line in a rented building," Ruben explained. "I had to hire three full-time employees to work the line while I managed the customer orders and purchased materials." Ruben paused. "But I can't take the Elmore project for granted. It might not always be there. I'll have to have a good alternate plan if that day comes."
-Gender segmentation has long been used in clothing, cosmetics, toiletries, and magazines.

Accepted Answer

A) True 
 B)False

Question 17

Distinguish between undifferentiated and differentiated marketing strategies.

Accepted Answer

The answer of Distinguish between undifferentiated and differentiated marketing strategies....

Question 18

The full mix of benefits on which a brand is differentiated and positioned is known as the brand's ________.

Accepted Answer

A)  value proposition 
B)  service life 
C)  value stream 
D)  supply chain 
E)  demand chain

Question 19

Marketers who use ________ often segment their markets by consumer lifestyles and base their marketing strategies on lifestyle appeals.

Accepted Answer

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

Question 20

Briefly describe geographic segmentation.

Accepted Answer

The answer of Briefly describe geographic segmentation....

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