Question 1

From a marketing point of view, self-values help determine the benefits the target market may be looking for from a product.

Accepted Answer

A) True 
 B)False

Question 2

Demographic variables are used for segmenting the markets very often because it is the most effective way of segmentation.

Accepted Answer

A) True 
 B)False

Question 3

Customer lifetime value (CLV)refers to the:

Accepted Answer

A) sum total of benefits that a vendor promises a customer will receive in return for the customer's loyalty for his or her lifetime. 
B) strategy for managing a company's interactions with customers, clients, and sales prospects. 
C) total value of purchases of a customer over a lifetime of patronage. 
D) tendency of a customer to stick with a brand even when it is priced higher than an otherwise equal product. 
E) the provision of service to customers before, during, and after a purchase.

Question 4

Benefit segmentation refers to the segmentation of consumers based on:

Accepted Answer

A) the worth they get from products or services. 
B) where they live. 
C) how they describe themselves. 
D) their lifestyle preferences. 
E) easily measured, objective characteristics such as age, gender, income, and education.

Question 5

Value is a popular positioning method that focuses on those attributes that are most important to the target market.

Accepted Answer

A) True 
 B)False

Question 6

A company makes packaged juices for the Canadian market, and different flavours are developed for specific regions.In this case, the segmentation approach used by the company is:

Accepted Answer

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

Question 7

The government of Ontario, like other provincial governments, charge the same fee to issue driver license.Any citizen who is eligible with get the same card and has to pay the same cost.This is an example of a(n):

Accepted Answer

A) geodemographic segmentation strategy. 
B) undifferentiated targeting strategy. 
C) concentrated targeting strategy. 
D) differentiated targeting strategy 
E) micromarketing

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.

Question 9

Rick, a neighbourhood tailor, makes clothes according to the requirements of each of his individual customers.This is an example of:

Accepted Answer

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

Question 10

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

Question 11

For a segmentation strategy to be successful, the customers in a segment must react differently to a firm's offering.

Accepted Answer

A) True 
 B)False

Question 12

A lifestyle store deals with expensive and aesthetic products.Most of its target customers belong to the elite class of society who want to make a style statement associated with exclusivity.In this case, the segmentation approach used by the store is:

Accepted Answer

A) geographic segmentation. 
B) benefit segmentation. 
C) demographic segmentation. 
D) loyalty segmentation. 
E) psychographic segmentation.

Question 13

Ace Inc.is a company that sells clothes.It has two brand names, Ace 1 and Ace Kid.Each of these brands caters to the needs of two dissimilar market segments.There are varied strategies and products for the dissimilar groups.In this case, which targeting strategy is the company using?

Accepted Answer

A) Differentiated 
B) Specialized 
C) Homogenous 
D) Undifferentiated 
E) Generalized

Question 14

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.

Question 15

Revolve Inc., a car manufacturing company, launched a new car in the market. It promoted the car as a high-price, high-quality, and high-performance vehicle. The car was aimed at high-income customers. The tagline read, "Suite on Wheels" emphasizing the luxury and comfort provided by the car while travelling. Despite all the promotions, the car did not attract the kind of customers the company had hoped to attract. Therefore, to revive interest in the car, Revolve started offering the vehicle at a lower price, aiming it at the middle-income segment. Revolve came up with a new tagline: "A jet at a cab's price."
-The car was initially targeted at customers in the high-income bracket.This kind of segmentation is called:

Accepted Answer

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

Question 16

A company launches a wide range of perfumes.Customers can go to the company's store and combine the perfumes in different ways to create unique scents.This is an example of:

Accepted Answer

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

Question 17

A toothpaste manufacturer segments its target population based on the four characteristics of toothpaste that it believes a customer requires: economic worth, medicinal value, cosmetic value, and taste.In this case, the segmentation approach used by the manufacturer is:

Accepted Answer

A) geographic segmentation. 
B) benefit segmentation. 
C) demographic segmentation. 
D) loyalty segmentation. 
E) occasion segmentation.

Question 18

Tinfol Inc. manufactured perfumes and makeup for women. Its products catered to all age groups. Because of the entry of other players into the market, the market share of Tinfol registered a drastic fall. Hence, Tinfol decided to change its strategy and segmented its consumers into categories such as middle-aged moms, young and fashion-forward consumers, and baby boomers. It offered products fulfilling the needs of each of the segments. It also set up a website where customers could mix more than 20 varieties of perfumes to create a personalized scent.
-In the beginning, Tinfol offered its products to women of all age groups.This is an example of a(n):

Accepted Answer

A) ideal positioning strategy. 
B) perceptual mapping strategy. 
C) brand repositioning strategy. 
D) undifferentiated targeting strategy. 
E) concentrated targeting strategy.

Question 19

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 20

Discuss the use of value as a positioning method with examples.

Accepted Answer

The answer of Discuss the use of value as a...

Exam 6: Segmentation, Targeting, and Positioning

From a marketing point of view, self-values help determine the benefits the target market may be looking for from a product.

Demographic variables are used for segmenting the markets very often because it is the most effective way of segmentation.

Customer lifetime value (CLV) refers to the:

Benefit segmentation refers to the segmentation of consumers based on:

Value is a popular positioning method that focuses on those attributes that are most important to the target market.

A company makes packaged juices for the Canadian market, and different flavours are developed for specific regions.In this case, the segmentation approach used by the company is:

The government of Ontario, like other provincial governments, charge the same fee to issue driver license.Any citizen who is eligible with get the same card and has to pay the same cost.This is an example of a(n) :

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

Rick, a neighbourhood tailor, makes clothes according to the requirements of each of his individual customers.This is an example of:

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

For a segmentation strategy to be successful, the customers in a segment must react differently to a firm's offering.

A lifestyle store deals with expensive and aesthetic products.Most of its target customers belong to the elite class of society who want to make a style statement associated with exclusivity.In this case, the segmentation approach used by the store is:

Ace Inc.is a company that sells clothes.It has two brand names, Ace 1 and Ace Kid.Each of these brands caters to the needs of two dissimilar market segments.There are varied strategies and products for the dissimilar groups.In this case, which targeting strategy is the company using?

Geographic segmentation refers to the segmentation of consumers based on:

A company launches a wide range of perfumes.Customers can go to the company's store and combine the perfumes in different ways to create unique scents.This is an example of:

A toothpaste manufacturer segments its target population based on the four characteristics of toothpaste that it believes a customer requires: economic worth, medicinal value, cosmetic value, and taste.In this case, the segmentation approach used by the manufacturer is:

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.

Discuss the use of value as a positioning method with examples.