Question 1

"For upscale American families who desire a carefree driving experience,Volvo is a premium-priced automobile that offers the utmost in safety and dependability" is a __________ statement for Volvo in North America.

Accepted Answer

A)   perception
B)   positioning
C)   market-product
D)   vision
E)   differentiationF) D) and E)
G) A) and E)

Question 2

A rehabilitation center wants to target women in their 20s who have received some permanent disability as the result of a skiing accident.In terms of the criteria used for selecting a target segment,this market may

Accepted Answer

A)   have no expected growth.
B)   not be compatible with the company's current resources.
C)   not be worth targeting since its market size is very small.
D)   not be readily accessible to the firm's marketing programs.
E)   be relatively expensive to reach.F) A) and B)
G) B) and D)

Question 3

A marketing manager should develop segments for a market that meet five principal criteria.List these important factors in forming market segments.

Accepted Answer

The five criteria are: (1)simplicity and...

Question 4

Explain the difference between mass customization and build-to-order.

Accepted Answer

Mass customization involves tailoring go...

Question 5

Procter & Gamble (P&G) decided to skip a generation of consumers when it began to market Old Spice deodorant.The target market consists of men aged 18 to 34 years old (Generation Y) who don't remember the Old Spice brand sold to their grandfathers (pre-baby boomer) many years ago.P&G is using which type of segmentation variable?

Accepted Answer

A)   behavioral
B)   demographic
C)   lifestyle
D)   geographic
E)   psychographicF) B) and D)
G) A) and E)

Question 6

Which of the following is a disadvantage of employing a multiple products,multiple market segments strategy if not implemented well?

Accepted Answer

A)   higher sales but lower profits
B)   reduced quality and higher prices
C)   meeting customer needs but at the expense of higher prices
D)   lower prices but with higher production costs
E)   higher quality but lower pricesF) None of the above
G) B) and E)

Question 7

When compared to a multiple products,multiple market segments strategy,a one product,multiple market segment strategy

Accepted Answer

A)   is a much more effective means of meeting consumers' individual needs.
B)   creates greater savings in production costs.
C)   is a more effective way of meeting organizational objectives.
D)   has significantly higher distribution costs.
E)   is more profitable since a firm can charge the new segments higher prices without changing the product.F) B) and E)
G) A) and B)

Question 8

Region and city size are both variables used to employ __________ segmentation.

Accepted Answer

A)   geographic
B)   behavioral
C)   district
D)   psychographic
E)   demographicF) None of the above
G) C) and D)

Question 9

As an owner of a Wendy's fast-food restaurant located near a large urban university,you need to analyze your customers and determine which segmentation base and its associated variable(s) you will use to segment your target market.Which segmentation base and associated variable(s) should you use?

Accepted Answer

A)   psychographic: VALS and personality
B)   demographic: gender and age
C)   behavioral: students and nonstudents
D)   geographic: city size and zip code
E)   transportation mode: car, bike, public transportation, and none (walking) F) B) and C)
G) A) and B)

Question 10

Why would an organization produce a single product or service and then attempt to sell it to two or more market segments?

Accepted Answer

An organization would produce a single p...

Question 11

Explain the 80/20 rule.

Accepted Answer

Usage rate is sometimes referred to in t...

Question 12

A marketing manager goes through several steps to put a market segmentation plan into effect.This includes being able to form market segments and then __________ without encountering excessive costs.

Accepted Answer

A)   eliminate potential nonbuyers
B)   identify segmentation variables
C)   select the market segment(s)  to target
D)   redirect their purchase behaviors
E)   ignore any and all similaritiesF) A) and C)
G) D) and E)

Question 13

What is product differentiation?
 How does it relate to market segmentation?
 How does it potentially improve a firm's revenues?

Accepted Answer

Product differentiation involves a firm ...

Question 14

Which of the following statements demonstrate the formation of a segment based on household size?

Accepted Answer

A)   Campbell's makes a spicier nacho cheese sauce for its distributors in Texas than it does in Maine.
B)   GE built a smaller microwave oven to hang under kitchen cabinets.
C)   Del Monte offers a line of canned fruit with no added sugar or artificial sweeteners.
D)   A fast-food hamburger restaurant is only open for breakfast on weekdays and Saturdays but not Sundays.
E)   A gourmet grocer advertises its services on a small-audience classical music station even though there is a much larger-audience rock station in the area.F) B) and E)
G) D) and E)

Question 15

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Accepted Answer

A)   pay attention to marketing messages.
B)   respond similarly to a marketing action.
C)   be responsive to marketing research.
D)   use the same payment methods.
E)   comply with the organization's core values.F) B) and C)
G) C) and E)

Question 16

Figure 8-6 
-Figure 8-6 shows the market-product grid for a Wendy's restaurant next to a large urban university campus.Assume a large market (shown by a 3) is three times the size of a small market (shown by a 1) and a medium market (shown by a 2) is twice the size of a small market.The meal occasion (product grouping) that comprises the largest product grouping is

Accepted Answer

A)   breakfast.
B)   lunch.
C)   between-meal snack.
D)   dinner.
E)   after-dinner snack.F) A) and D)
G) A) and E)

Question 17

The 80/20 rule is most closely related to which basis of segmentation?

Accepted Answer

A)   geographic
B)   psychographic
C)   opportunistic
D)   demographic
E)   behavioralF) B) and C)
G) B) and E)

Question 18

One approach to positioning a new product in a market is __________ positioning,which involves competing directly with competitors on similar product attributes in the same target market.

Accepted Answer

A)   perceptual
B)   head-to-head
C)   psychological
D)   differentiation
E)   marketF) All of the above
G) A) and B)

Question 19

Lands' End will custom-fit a Marinac jacket and make it with additional features such as thumb loops,underarm ventilation slits,and a key clip when you order from LandsEnd.com.This is an example of

Accepted Answer

A)   family branding.
B)   mass customization.
C)   "Tiffany/Walmart" marketing.
D)   market melding.
E)   specialty customization.F) B) and E)
G) A) and B)

Question 20

Figure 8-8 
-Figure 8-8 is a depiction of a __________ for beverages in the minds of adults.

Accepted Answer

A)   hierarchy of needs
B)   perceptual map
C)   marketing matrix
D)   growth-share matrix
E)   perception matrixF) A) and B)
G) B) and C)

Exam 8: Market Segmentation, targeting, and Positioning

Region and city size are both variables used to employ __________ segmentation.

Correct Answer
verified

Explain the 80/20 rule.

Correct Answer
verified
Usage rate is sometimes referred to in t...
View Answer

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Correct Answer
verified

Which of the following is a disadvantage of employing a multiple products,multiple market segments strategy if not implemented well?

Correct Answer
verified

A marketing manager should develop segments for a market that meet five principal criteria.List these important factors in forming market segments.

Correct Answer
verified
The five criteria are: (1)simplicity and...
View Answer

"For upscale American families who desire a carefree driving experience,Volvo is a premium-priced automobile that offers the utmost in safety and dependability" is a __________ statement for Volvo in North America.

Correct Answer
verified

The 80/20 rule is most closely related to which basis of segmentation?

Correct Answer
verified

A marketing manager goes through several steps to put a market segmentation plan into effect.This includes being able to form market segments and then __________ without encountering excessive costs.

Correct Answer
verified

Why would an organization produce a single product or service and then attempt to sell it to two or more market segments?

Correct Answer
verified
An organization would produce a single p...
View Answer

Figure 8-8 -Figure 8-8 is a depiction of a __________ for beverages in the minds of adults.

Correct Answer
verified

Correct Answer
verified

Which of the following statements demonstrate the formation of a segment based on household size?

Correct Answer
verified

When compared to a multiple products,multiple market segments strategy,a one product,multiple market segment strategy

Correct Answer
verified

As an owner of a Wendy's fast-food restaurant located near a large urban university,you need to analyze your customers and determine which segmentation base and its associated variable(s) you will use to segment your target market.Which segmentation base and associated variable(s) should you use?

Correct Answer
verified

Explain the difference between mass customization and build-to-order.

Correct Answer
verified
Mass customization involves tailoring go...
View Answer

Correct Answer
verified

A rehabilitation center wants to target women in their 20s who have received some permanent disability as the result of a skiing accident.In terms of the criteria used for selecting a target segment,this market may

Correct Answer
verified

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

Correct Answer
verified
Product differentiation involves a firm ...
View Answer

Lands' End will custom-fit a Marinac jacket and make it with additional features such as thumb loops,underarm ventilation slits,and a key clip when you order from LandsEnd.com.This is an example of

Correct Answer
verified

One approach to positioning a new product in a market is __________ positioning,which involves competing directly with competitors on similar product attributes in the same target market.

Correct Answer
verified

Exam 8: Market Segmentation, targeting, and Positioning

Region and city size are both variables used to employ __________ segmentation.

Correct AnswerverifiedShow Answer

Explain the 80/20 rule.

Correct AnswerverifiedUsage rate is sometimes referred to in t...View AnswerShow Answer

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Correct AnswerverifiedShow Answer

Which of the following is a disadvantage of employing a multiple products,multiple market segments strategy if not implemented well?

Correct AnswerverifiedShow Answer

A marketing manager should develop segments for a market that meet five principal criteria.List these important factors in forming market segments.

Correct AnswerverifiedThe five criteria are: (1)simplicity and...View AnswerShow Answer

"For upscale American families who desire a carefree driving experience,Volvo is a premium-priced automobile that offers the utmost in safety and dependability" is a __________ statement for Volvo in North America.

Correct AnswerverifiedShow Answer

The 80/20 rule is most closely related to which basis of segmentation?

Correct AnswerverifiedShow Answer

A marketing manager goes through several steps to put a market segmentation plan into effect.This includes being able to form market segments and then __________ without encountering excessive costs.

Correct AnswerverifiedShow Answer

Why would an organization produce a single product or service and then attempt to sell it to two or more market segments?

Correct AnswerverifiedAn organization would produce a single p...View AnswerShow Answer

Figure 8-8 -Figure 8-8 is a depiction of a __________ for beverages in the minds of adults.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements demonstrate the formation of a segment based on household size?

Correct AnswerverifiedShow Answer

When compared to a multiple products,multiple market segments strategy,a one product,multiple market segment strategy

Correct AnswerverifiedShow Answer

As an owner of a Wendy's fast-food restaurant located near a large urban university,you need to analyze your customers and determine which segmentation base and its associated variable(s) you will use to segment your target market.Which segmentation base and associated variable(s) should you use?

Correct AnswerverifiedShow Answer

Explain the difference between mass customization and build-to-order.

Correct AnswerverifiedMass customization involves tailoring go...View AnswerShow Answer

Correct AnswerverifiedShow Answer

A rehabilitation center wants to target women in their 20s who have received some permanent disability as the result of a skiing accident.In terms of the criteria used for selecting a target segment,this market may

Correct AnswerverifiedShow Answer

What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?

Correct AnswerverifiedProduct differentiation involves a firm ...View AnswerShow Answer

Lands' End will custom-fit a Marinac jacket and make it with additional features such as thumb loops,underarm ventilation slits,and a key clip when you order from LandsEnd.com.This is an example of

Correct AnswerverifiedShow Answer

One approach to positioning a new product in a market is __________ positioning,which involves competing directly with competitors on similar product attributes in the same target market.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
Usage rate is sometimes referred to in t...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The five criteria are: (1)simplicity and...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
An organization would produce a single p...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Mass customization involves tailoring go...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Product differentiation involves a firm ...
View Answer

Correct Answer
verified

Correct Answer
verified