Question 1

When compared to a multiple products, multiple market segments strategy, a one product, multiple market segments 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) A) and C)
G) B) and D)

Question 2

The Walt Disney Co. carefully markets two distinct Winnie-the-Poohs; one is the original line-drawn figure on fine china sold at Nordstrom and the other is a cartoon-like Pooh on polyester bed sheets sold at Target. This is an example of

Accepted Answer

A)   mass customization.
B)   a Tiffany/Walmart strategy.
C)   one product and multiple market segments.
D)   price discrimination.
E)   psychographic market segmentation.F) C) and D)
G) A) and B)

Question 3

In an Apple market-product grid for its personal computer line, the professional segment of medium/large businesses seems willing to purchase all of the items in Apple's product line. This allows Apple to enjoy cost savings due to

Accepted Answer

A)   segment differentiation.
B)   marketing synergies.
C)   product synergies.
D)   segment repositioning.
E)   product differentiation.F) A) and B)
G) A) and C)

Question 4

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) All of the above

Question 5

The 80/20 rule suggests that

Accepted Answer

A)   around 80 percent of a firm's inventory should be readily available while 20 percent should be reserved for emergency demand.
B)   nearly 80 percent of a firm's first-time users will become brand loyal while only 20 percent will use the product only once and then abandon it.
C)   about 80 percent of a firm's sales are obtained from about 20 percent of its customers.
D)   80 percent of a firm's marketing program expenses are tax deductible while 20 percent are not.
E)   about 80 percent of a firm's products will be sold to ultimate consumers while 20 percent go to organizational buyers.F) C) and D)
G) All of the above

Question 6

Figure 9-7
-Figure 9-7 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus. The best way to describe how the student market is segmented is

Accepted Answer

A)   the level of discretionary income the student has.
B)   whether the student pays in-state or out-of-state tuition.
C)   whether the student has the disposable income to eat at Wendy's.
D)   combining where the student lives, if on campus, or what time the student commutes.
E)   the meals eaten at the Wendy's restaurant.F) A) and E)
G) A) and D)

Question 7

The process of segmenting a market and selecting specific segments as targets is the link between ________ and the organization's marketing program.

Accepted Answer

A)   self-regulatory industry standards
B)   government regulations
C)   top-level management
D)   buyers' or market needs
E)   controllable environmental factorsF) A) and B)
G) A) and E)

Question 8

Kellogg's has several cereals targeted at different types of users. This is an example of multiple products aimed at multiple markets. Manufacturing these different cereals is clearly more expensive than producing only one but seems worthwhile if it adds to the manufacturer's profits and

Accepted Answer

A)   meets standards for new product testing.
B)   uses the same promotion and packaging for all segments.
C)   cannibalizes the earlier products.
D)   stabilizes competition.
E)   better serves customers' needs.F) A) and B)
G) None of the above

Question 9

Today, marketers are increasingly emphasizing a Tiffany/Walmart strategy, which is to offer

Accepted Answer

A)   a low-priced product to a high-income or high net worth segment.
B)   a high-priced product to a low-income or low net worth segment.
C)   different variations of the same basic offering to high-end and low-end segments.
D)   a high-priced and a low-priced offering to a single market segment.
E)   entirely different offerings to high-end and low-end segments.F) All of the above
G) C) and D)

Question 10

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) B) and E)
G) C) and D)

Question 11

Changing the place an offering occupies in a consumer's mind relative to competitive products is referred to as

Accepted Answer

A)   product placement.
B)   perceptual mapping.
C)   product positioning.
D)   product repositioning.
E)   product differentiation.F) C) and D)
G) A) and B)

Question 12

A positioning approach that involves seeking a less-competitive, smaller market niche in which to locate a brand is referred to as

Accepted Answer

A)   competitive repositioning.
B)   head-to-head positioning.
C)   differentiation positioning.
D)   downsize positioning.
E)   product repositioning.F) B) and C)
G) A) and E)

Question 13

Campbell Soup Co. found that its canned nacho cheese sauce, which could be heated and poured directly onto nacho chips, was too spicy for Americans in the East and not spicy enough for those in the West and Southwest. Today, Campbell's plants in Texas and California produce a spicier nacho cheese sauce than what is produced in the other plants. Campbell's is using ________ segmentation.

Accepted Answer

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

Question 14

One marketing action that can be taken to sell a single product or service to multiple market segments is to

Accepted Answer

A)   develop and produce another version of the product.
B)   manufacture products that appeal to different markets.
C)   develop a new channel of distribution.
D)   purchase another firm that has additional products that would appeal to multiple markets.
E)   issue stock to fund additional research and development for new products.F) C) and D)
G) B) and E)

Question 15

Organizational synergy is the increased customer value achieved through

Accepted Answer

A)   performing organizational functions more efficiently.
B)   more discounts or larger rebates at the point of sale.
C)   involvement of the ultimate consumer in product design.
D)   an increase in the knowledge of competitors.
E)   shared ownership of the organization through publicly traded stock.F) A) and E)
G) A) and D)

Question 16

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is

Accepted Answer

A)   consumer differentiation.
B)   psychographics.
C)   market segmentation.
D)   market delineation.
E)   aggregation marketing.F) A) and E)
G) C) and E)

Question 17

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 an...

Question 18

Samsung sells a variety of TVs, from simple and small ones to large smart TVs with Internet connectivity and 3-D technology. Customers prefer different features, so Samsung uses which type of segmentation variable based on their viewing preferences?

Accepted Answer

A)   demographic segmentation
B)   psychographic segmentation
C)   behavioral segmentation
D)   geographic segmentation
E)   socioeconomic segmentationF) A) and E)
G) A) and D)

Question 19

Magazines such as Condé Nast Traveler, Field & Stream, Golf Digest, and Fitness focus on how people live their lives, and thus all use a ________ segmentation strategy.

Accepted Answer

A)   psychographic
B)   behavioral
C)   situational
D)   socioeconomic
E)   geographicF) B) and E)
G) A) and B)

Question 20

Two key types of synergies related to segmentation and targeting are

Accepted Answer

A)   supplier and distributor synergies.
B)   marketing and product synergies.
C)   industry-dominated and consumer-dominated.
D)   product and production synergies.
E)   consumer and market synergies.F) A) and E)
G) A) and C)

Exam 9: Market Segmentation, Targeting, and Positioning

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

The 80/20 rule suggests that

Correct Answer
verified

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

Two key types of synergies related to segmentation and targeting are

Correct Answer
verified

Correct Answer
verified

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is

Correct Answer
verified

Figure 9-7 -Figure 9-7 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus. The best way to describe how the student market is segmented is

Correct Answer
verified

Changing the place an offering occupies in a consumer's mind relative to competitive products is referred to as

Correct Answer
verified

Today, marketers are increasingly emphasizing a Tiffany/Walmart strategy, which is to offer

Correct Answer
verified

The process of segmenting a market and selecting specific segments as targets is the link between ________ and the organization's marketing program.

Correct Answer
verified

A positioning approach that involves seeking a less-competitive, smaller market niche in which to locate a brand is referred to as

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 an...
View Answer

The Walt Disney Co. carefully markets two distinct Winnie-the-Poohs; one is the original line-drawn figure on fine china sold at Nordstrom and the other is a cartoon-like Pooh on polyester bed sheets sold at Target. This is an example of

Correct Answer
verified

Magazines such as Condé Nast Traveler, Field & Stream, Golf Digest, and Fitness focus on how people live their lives, and thus all use a ________ segmentation strategy.

Correct Answer
verified

Kellogg's has several cereals targeted at different types of users. This is an example of multiple products aimed at multiple markets. Manufacturing these different cereals is clearly more expensive than producing only one but seems worthwhile if it adds to the manufacturer's profits and

Correct Answer
verified

In an Apple market-product grid for its personal computer line, the professional segment of medium/large businesses seems willing to purchase all of the items in Apple's product line. This allows Apple to enjoy cost savings due to

Correct Answer
verified

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

Correct Answer
verified

Organizational synergy is the increased customer value achieved through

Correct Answer
verified

One marketing action that can be taken to sell a single product or service to multiple market segments is to

Correct Answer
verified

Samsung sells a variety of TVs, from simple and small ones to large smart TVs with Internet connectivity and 3-D technology. Customers prefer different features, so Samsung uses which type of segmentation variable based on their viewing preferences?

Correct Answer
verified

Exam 9: Market Segmentation, Targeting, and Positioning

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

The 80/20 rule suggests that

Correct AnswerverifiedShow 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

Two key types of synergies related to segmentation and targeting are

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is

Correct AnswerverifiedShow Answer

Figure 9-7 -Figure 9-7 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus. The best way to describe how the student market is segmented is

Correct AnswerverifiedShow Answer

Changing the place an offering occupies in a consumer's mind relative to competitive products is referred to as

Correct AnswerverifiedShow Answer

Today, marketers are increasingly emphasizing a Tiffany/Walmart strategy, which is to offer

Correct AnswerverifiedShow Answer

The process of segmenting a market and selecting specific segments as targets is the link between ________ and the organization's marketing program.

Correct AnswerverifiedShow Answer

A positioning approach that involves seeking a less-competitive, smaller market niche in which to locate a brand is referred to as

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 an...View AnswerShow Answer

The Walt Disney Co. carefully markets two distinct Winnie-the-Poohs; one is the original line-drawn figure on fine china sold at Nordstrom and the other is a cartoon-like Pooh on polyester bed sheets sold at Target. This is an example of

Correct AnswerverifiedShow Answer

Magazines such as Condé Nast Traveler, Field & Stream, Golf Digest, and Fitness focus on how people live their lives, and thus all use a ________ segmentation strategy.

Correct AnswerverifiedShow Answer

Kellogg's has several cereals targeted at different types of users. This is an example of multiple products aimed at multiple markets. Manufacturing these different cereals is clearly more expensive than producing only one but seems worthwhile if it adds to the manufacturer's profits and

Correct AnswerverifiedShow Answer

In an Apple market-product grid for its personal computer line, the professional segment of medium/large businesses seems willing to purchase all of the items in Apple's product line. This allows Apple to enjoy cost savings due to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Organizational synergy is the increased customer value achieved through

Correct AnswerverifiedShow Answer

One marketing action that can be taken to sell a single product or service to multiple market segments is to

Correct AnswerverifiedShow Answer

Samsung sells a variety of TVs, from simple and small ones to large smart TVs with Internet connectivity and 3-D technology. Customers prefer different features, so Samsung uses which type of segmentation variable based on their viewing preferences?

Correct AnswerverifiedShow Answer

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The five criteria are: (1) simplicity an...
View Answer

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