Question 1

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as

Accepted Answer

A)   family branding.
B)   mass customization.
C)   product differentiation.
D)   economies of scale marketing.
E)   build-to-order.F) B) and D)
G) B) and C)

Question 2

Four general categories are used to segment consumer markets. Which of these is one of them?

Accepted Answer

A)   supplier segmentation
B)   demand segmentation
C)   industry segmentation
D)   demographic segmentation
E)   product segmentationF) A) and D)
G) A) and E)

Question 3

Changing the place an offering occupies in consumers' minds 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) A) and C)
G) A) and B)

Question 4

In marketing, each ________ consists of people who are relatively similar to each other in terms of their consumption behavior.

Accepted Answer

A)   demographic cluster
B)   organizational buyer group
C)   market segment
D)   ultimate consumer group
E)   qualified prospect groupF) A) and E)
G) B) and C)

Question 5

Criteria for forming segments involve both similarities and differences. In terms of the needs of buyers, the similarities must be ________ a segment, and the differences must be ________ segments.

Accepted Answer

A)   between; among
B)   throughout; absent in
C)   within; among
D)   absent in; throughout
E)   among; acrossF) A) and E)
G) B) and E)

Question 6

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

Question 7

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

Accepted Answer

Mass customization involves tailoring go...

Question 8

Which of the following competitors mentioned in the textbook should the owner of a Wendy's restaurant monitor closely due to its explosive growth in the number of current and proposed locations-one that is or may soon be near this Wendy's?

Accepted Answer

A)   Burger King
B)   In-N-Out Burger
C)   McDonald's
D)   Five Guys
E)   SmashburgerF) C) and D)
G) A) and B)

Question 9

The market segmentation strategy known as frequency marketing focuses on

Accepted Answer

A)   trial.
B)   the average number of times a person in the target audience is exposed to an advertisement.
C)   consumption preferences.
D)   turnover.
E)   usage rate.F) A) and E)
G) A) and B)

Question 10

Massage Envy offers massage services on a subscription basis, so it targets consumers that desire to get multiple treatments per month. Massage Envy likely segments its market by

Accepted Answer

A)   usage rate.
B)   benefits offered.
C)   demographics.
D)   geography.
E)   lifestyle.F) D) and E)
G) C) and D)

Question 11

Building open and honest relationships with communication is an example of one of Zappos'

Accepted Answer

A)   target markets.
B)   best practices being adapted from its new owner, Amazon.com.
C)   ten core values.
D)   supplier requirements.
E)   long-term goals.F) B) and E)
G) B) and C)

Question 12

Market segmentation refers to

Accepted Answer

A)   the philosophy that to do a truly excellent job of marketing, a company should concentrate on only one customer segment at a time.
B)   sorting prospective buyers into groups that are willing to pay more than the cost of production for a good or service.
C)   disaggregating prospective buyers from groups into segments of one (individuals)  and then creating specific products that will satisfy this person's unique needs.
D)   aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action.
E)   the belief that it is possible to satisfy every customer's needs if you can identify the correct segment within which they belong.F) D) and E)
G) A) and C)

Question 13

Best Foods Co. is considering expanding beyond the regional market segments now served by its Hellmann's mayonnaise. One criterion management wants to use to evaluate potential new geographic market segments is whether additional real estate must be purchased or leased to serve new segments. This is an example of which criterion used to select target market segments?

Accepted Answer

A)   Best Foods' competitive position in the segment
B)   Best Foods' product groupings
C)   expected growth of the market segment
D)   size of the market segment
E)   cost of reaching the segmentF) C) and D)
G) A) and D)

Question 14

The State of Alabama Board of Tourism ran a series of ads showing traditional families enjoying various attractions in the state. Since the apparent target of these ads is the traditional family, it appears that the State of Alabama Board of Tourism has segmented the market using ________ variables.

Accepted Answer

A)   demographic
B)   regional
C)   socioeconomic
D)   geographic
E)   psychographicF) A) and E)
G) None of the above

Question 15

Suppose marketers want to use product differentiation and market segmentation strategies. What question should they ask when considering the potential for cannibalization with these strategies?

Accepted Answer

A)   Will our new products steal customers or sales from our older ones?
B)   Will the products compete head-to-head with those of a competitor?
C)   Can this action successfully draw customers away from competitors?
D)   Are there enough similarities within the market segment to warrant such high costs?
E)   Will this action eliminate the need for individualized advertising and promotion?F) None of the above
G) B) and E)

Question 16

Two key types of synergies 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) C) and E)
G) B) and D)

Question 17

In its early years, Apple was often called "Camp Runamok" because

Accepted Answer

A)   every employee was encouraged to do his or her own thing.
B)   it was concentrating on laptops while everyone else was concentrating on personal computers.
C)   all the employees were so young, so they often played more than they worked.
D)   there were no coherent product lines targeted at identifiable market segments.
E)   its personal computers were running amok with viruses, spyware, and other problems.F) A) and D)
G) A) and C)

Question 18

Segmentation based on what product features are important to different customers is a type of

Accepted Answer

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

Question 19

Product repositioning is

Accepted Answer

A)   the place a product offering occupies in consumers' minds on important attributes.
B)   using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets.
C)   changing the place an offering occupies in consumers' minds relative to competitive products.
D)   the practice of selling a firm's least successful product line and redirecting that revenue into a totally new product.
E)   the competitive advantage of one product over another.F) D) and E)
G) A) and E)

Question 20

The increased customer value achieved through performing organizational functions such as marketing or manufacturing more efficiently is referred to as

Accepted Answer

A)   functional aggregation.
B)   organizational synergy.
C)   task segmentation.
D)   task amalgamation.
E)   project valuation.F) A) and D)
G) C) and E)

Exam 8: Market Segmentation, Targeting, and Positioning

The market segmentation strategy known as frequency marketing focuses on

Correct Answer
verified

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as

Correct Answer
verified

Which of the following competitors mentioned in the textbook should the owner of a Wendy's restaurant monitor closely due to its explosive growth in the number of current and proposed locations-one that is or may soon be near this Wendy's?

Correct Answer
verified

Criteria for forming segments involve both similarities and differences. In terms of the needs of buyers, the similarities must be a segment, and the differences must be segments.

Correct Answer
verified

Market segmentation refers to

Correct Answer
verified

Product repositioning is

Correct Answer
verified

The increased customer value achieved through performing organizational functions such as marketing or manufacturing more efficiently is referred to as

Correct Answer
verified

Suppose marketers want to use product differentiation and market segmentation strategies. What question should they ask when considering the potential for cannibalization with these strategies?

Correct Answer
verified

Segmentation based on what product features are important to different customers is a type of

Correct Answer
verified

Massage Envy offers massage services on a subscription basis, so it targets consumers that desire to get multiple treatments per month. Massage Envy likely segments its market by

Correct Answer
verified

Correct Answer
verified

In its early years, Apple was often called "Camp Runamok" because

Correct Answer
verified

Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as

Correct Answer
verified

Four general categories are used to segment consumer markets. Which of these is one of them?

Correct Answer
verified

The State of Alabama Board of Tourism ran a series of ads showing traditional families enjoying various attractions in the state. Since the apparent target of these ads is the traditional family, it appears that the State of Alabama Board of Tourism has segmented the market using ________ variables.

Correct Answer
verified

In marketing, each ________ consists of people who are relatively similar to each other in terms of their consumption behavior.

Correct Answer
verified

Building open and honest relationships with communication is an example of one of Zappos'

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

Two key types of synergies are

Correct Answer
verified

Exam 8: Market Segmentation, Targeting, and Positioning

The market segmentation strategy known as frequency marketing focuses on

Correct AnswerverifiedShow Answer

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as

Correct AnswerverifiedShow Answer

Which of the following competitors mentioned in the textbook should the owner of a Wendy's restaurant monitor closely due to its explosive growth in the number of current and proposed locations-one that is or may soon be near this Wendy's?

Correct AnswerverifiedShow Answer

Criteria for forming segments involve both similarities and differences. In terms of the needs of buyers, the similarities must be ________ a segment, and the differences must be ________ segments.

Correct AnswerverifiedShow Answer

Market segmentation refers to

Correct AnswerverifiedShow Answer

Product repositioning is

Correct AnswerverifiedShow Answer

The increased customer value achieved through performing organizational functions such as marketing or manufacturing more efficiently is referred to as

Correct AnswerverifiedShow Answer

Suppose marketers want to use product differentiation and market segmentation strategies. What question should they ask when considering the potential for cannibalization with these strategies?

Correct AnswerverifiedShow Answer

Segmentation based on what product features are important to different customers is a type of

Correct AnswerverifiedShow Answer

Massage Envy offers massage services on a subscription basis, so it targets consumers that desire to get multiple treatments per month. Massage Envy likely segments its market by

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In its early years, Apple was often called "Camp Runamok" because

Correct AnswerverifiedShow Answer

Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as

Correct AnswerverifiedShow Answer

Four general categories are used to segment consumer markets. Which of these is one of them?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In marketing, each ________ consists of people who are relatively similar to each other in terms of their consumption behavior.

Correct AnswerverifiedShow Answer

Building open and honest relationships with communication is an example of one of Zappos'

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

Two key types of synergies are

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Criteria for forming segments involve both similarities and differences. In terms of the needs of buyers, the similarities must be a segment, and the differences must be segments.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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