Question 1

What are the four criteria that are necessary to define a market?

Accepted Answer

The answer of What are the four criteria that are...

Question 2

ThermaCare air-activated heat wraps are meant to be wrapped around sore muscles and joints.The product is advertised as a powerful pain reliever and a source of deep muscle relaxation.Its soothing warmth can work at night while you sleep to restore your body.The manufacturer of ThermaCare heat wraps is using _____ segmentation.

Accepted Answer

A) geodemographic 
B) functional 
C) benefit 
D) socioeconomic 
E) feature-based

Question 3

Almost all cell phones sold in the United States are black or gray.Almost all cell phones sold in Europe are colorful,and very few black phones are sold.A cell phone manufacturer knowing this information could use _____ segmentation when selling its phones internationally.

Accepted Answer

A) geographic 
B) economic 
C) demographic 
D) benefit 
E) multipositioning

Question 4

The James Hardie Siding Company sells concrete siding.It was having little luck targeting contractors because concrete siding is difficult to install and shows every flaw if a house is incorrectly framed.So Hardie decided to target homeowners who wanted the security of knowing their siding was guaranteed not to rot or crack for 50 years.In terms of psychographic segmentation,the siding company used the _____ variable.

Accepted Answer

A) lifestyles 
B) motives 
C) benefits 
D) demographic 
E) personality

Question 5

A(n)_____ is a subgroup of individuals or organizations sharing one or more characteristics that cause them to have similar product needs.

Accepted Answer

A) market universe 
B) market segment 
C) aggregated market 
D) segmentation base 
E) population sample

Question 6

A _____ is a group of people or organizations that has wants and needs that can be satisfied by particular product categories,has the ability to purchase these products,and is willing to exchange resources for the products.

Accepted Answer

A) firm 
B) buyer 
C) market 
D) consumer 
E) target

Question 7

One segment of a market is called a:

Accepted Answer

A) slice 
B) wedge 
C) pocket 
D) slot 
E) niche

Question 8

Changing consumers' perceptions of a brand in relation to competing brands is known as:

Accepted Answer

A) positioning 
B) repositioning 
C) reintermediation 
D) demarketing 
E) reengineering

Question 9

General Mills offers a deal where its cereal users can collect box tops and submit them to General Mills to earn money for their children's schools.This program,called the Box Tops for Education Program,is a means of changing light users into heavier users.In other words,it is a form of _____ segmentation.

Accepted Answer

A) lifestyle 
B) motive 
C) usage-rate 
D) demographic 
E) personality

Question 10

The _____ proposes that a minority of a firm's customers purchase a majority of the volume of the product.

Accepted Answer

A) majority fallacy 
B) equity fallacy 
C) 80/20 principle 
D) cannibalization rule 
E) optimizer principle

Question 11

Products such as bleaches,aspirin,unleaded regular gasoline,and some soaps are distinguished by differences such as brand names,packaging,color,smell,or "secret" additives.With these products,marketers attempt to convince customers that their product is significantly different from the others and should therefore be demanded over competing brands.These marketers are using:

Accepted Answer

A) cannibalization 
B) perceptual mapping 
C) psychographic targeting 
D) integrated marketing 
E) product differentiation

Question 12

The Southern Company is the largest provider of utilities in the southeastern United States.It has also been accused of being the biggest source of industrial air pollution in the area.Southern is trying to change consumers' perceptions of the company by sponsoring a series of television programs on how to preserve our environment.The Southern Company is hoping the programming will lead to:

Accepted Answer

A) repositioning 
B) reengineering 
C) demarketing 
D) undifferentiated targeting 
E) one-to-one marketing

Question 13

All of the following statements are reasons why consumer goods companies take a regional approach to marketing rather than a national approach EXCEPT:

Accepted Answer

A) Many firms need to find new ways to generate sales because of sluggish and intensely competitive markets. 
B) A regional approach gives marketing managers control over the competitive environment. 
C) Computerized checkout stations with scanners enable retailers to assess accurately which brands sell the best in each region. 
D) Many packaged-goods manufacturers are introducing new regional brands intended to appeal to local preferences. 
E) A more regional approach allows consumer goods companies to react more quickly to competition.

Question 14

The first step in segmenting a market is to choose a basis or bases for segmenting the markets.

Accepted Answer

A) True 
 B)False

Question 15

When a firm uses a concentrated targeting strategy,it can:

Accepted Answer

A) view the total market as receptive to its product. 
B) offer a highly specialized marketing mix. 
C) reach customers in two or more segments that might otherwise be missed. 
D) avoid the danger of putting all resources in one micromarket. 
E) concentrate on one generalized product to fit the mass market,maximizing sales volume.

Question 16

For years,fryer chickens sold in grocery stores were perceived to be a rather generic product--one brand of chicken was much like another.Then Frank Perdue began an advertising campaign to tell consumers that his brand of chicken was more tender,therefore a better choice.Perdue brought _____ to the marketing of fryer chickens.

Accepted Answer

A) perceptual mapping 
B) product differentiation 
C) psychographic targeting 
D) market innovation 
E) cannibalization

Question 17

What is product differentiation,and how can it be achieved?

Accepted Answer

The answer of What is product differentiation,and how can it...

Question 18

Wrestling Merchandise
Market research has shown that 6- to 17-year-old males,18- to 24-year-old females,and 18- to 44-year-old males are most likely to watch a televised professional wrestling event or attend a live match.Wrestling events are regularly broadcast in 120 different countries.Merchandise licensed by World Wrestling Entertainment (formerly known as the World Wrestling Federation)can be purchased at JCPenney and Walmart.Clothes for adults are used to reach markets that may not buy action figures,video games,and novelty candy,but who are still proud to sport World Wrestling Entertainment (WWE)trademarks.
-Refer to Wrestling Merchandise.Prior to the 1990s,professional wrestling tried to compete as a legitimate sport just like football and baseball.Now it uses the term sports entertainment when talking about what it is marketing to its fans.This is an example of the implementation of a(n)_____ strategy.

Accepted Answer

A) multisegment 
B) product differentiation 
C) undifferentiated marketing 
D) target market 
E) repositioning

Question 19

Jane graduated from high school in 1978,is married,and has two teenage children.Most of Jane's friends from high school have children who have already graduated from college and gotten married,and some have grandchildren.Jane and her former classmates are at different stages of the:

Accepted Answer

A) internalization phase. 
B) segmentation process. 
C) family life cycle. 
D) psychographic cycle. 
E) maturation process.

Question 20

A product's position refers to where it is located on store shelves.

Accepted Answer