Question 1

What are the segmentation bases for U.S.organizational (business)markets?

Accepted Answer

Organizational (business)marke...

Question 2

During its market segmentation process for the Nike LeBron X basketball shoe,which sells for more than $200 a pair,Nike decided to concentrate on affluent teens rather than members of high school basketball teams.This is an example of

Accepted Answer

A)   selecting target market segments to reach.
B)   forming products to be sold into groups.
C)   developing a market-product grid and estimating size of markets.
D)   taking marketing actions to reach target markets.
E)   forming prospective buyers into segments.F) B) and E)
G) A) and B) A

Question 3

A market-product grid is a framework to relate the market segments of potential buyers to

Accepted Answer

A)   estimated expenses for products sold.
B)   products offered or potential marketing actions by an organization.
C)   total anticipated revenue for products sold.
D)   total anticipated profit for products sold.
E)   market share of the closest competitor.F) None of the above
G) B) and C) B

Question 4

A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products is referred to as

Accepted Answer

A)   market penetration.
B)   points of difference.
C)   market differentiation.
D)   product positioning.
E)   product differentiation.F) B) and C)
G) A) and E) E

Question 5

Which of the following is not a criterion that would support forming market segments?

Accepted Answer

A)   The ability to assign buyers to a segment is cost-effective and simple.
B)   The result of segmenting will cause an increase in market share or profit.
C)   There are significant similarities among buyers in the market segment.
D)   There is a potential marketing action to reach the segment.
E)   The cost to reach the segment exceeds the expected returns.F) All of the above
G) A) and B)

Question 6

Which of the following statements best illustrates geographic segmentation?

Accepted Answer

A)   GE builds a smaller microwave oven to hang under kitchen cabinets.
B)   Del Monte offers a line of canned fruit with no added sugar or artificial sweeteners.
C)   In China, KFC sells a spicier chicken the farther away its restaurants are from the coastal areas.
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) All of the above
G) A) and D)

Question 7

Which of the following statements regarding when and how to segment markets is most accurate?

Accepted Answer

A)   Even if a firm finds uniform needs across all users, it should take advantage of the method to avoid falling behind its competitors.
B)   Market segmentation is only feasible for large corporations; small businesses don't have the resources to engage in the process.
C)   Governments should not attempt market segmentation because the strategy is only applicable for consumer and organizational markets.
D)   If a business firm goes to the trouble and expense of segmenting its markets, it expects to increase its sales, profits, and return on investment.
E)   Market segmentation strategies work less than 10 percent of the time.F) C) and D)
G) A) and E)

Question 8

Market segments refers to

Accepted Answer

A)   the relatively heterogeneous groups of prospective buyers that result from the market segmentation process.
B)   all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future.
C)   the smallest number of buyers that have similar needs but do not react similarly in a buying situation.
D)   the relatively homogenous groups of prospective buyers that result from the market segmentation process.
E)   all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.F) B) and E)
G) A) and E)

Question 9

Which of the following statements about Zappos is most accurate?

Accepted Answer

A)   Zappos limits its inventory to a selection of high-end fashion footwear.
B)   Zappos carries more than 1,000 different brands.
C)   Zappos can guarantee overnight shipping to all its customers because they know ahead of time what they will be charged for express service.
D)   Zappos is so successful because it has chosen a single mission to "sell shoes and only shoes."
E)   Zappos offers a 30/60/90 return policy whereby refunds are based on how long you had the shoes.F) C) and E)
G) A) and C)

Question 10

Apple's iPhone has a feature known as Apple Pay that lets you use your phone to pay for credit purchases,meaning you could leave your wallet at home.This feature sets the smartphone apart from its competitors and is part of Apple's ___________ strategy.

Accepted Answer

A)   product segmentation
B)   market expansion
C)   product differentiation
D)   usage segmentation
E)   psychographic segmentationF) A) and D)
G) A) and B)

Question 11

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

Accepted Answer

A)   demographic clusters.
B)   organizational buyers.
C)   ultimate consumers.
D)   market segments.
E)   qualified prospects.F) A) and B)
G) B) and D)

Question 12

More than half of all U.S.households are composed of only one or two persons,so Aunt Jemima offers one serving meals,such as its Ham & Egg Scramble and Oatmeal Pancakes.Aunt Jemima is using __________ as the basis to segment its market.

Accepted Answer

A)   usage rates
B)   usage patterns
C)   demographic characteristics
D)   behavior characteristics
E)   psychographic characteristicsF) B) and E)
G) A) and B)

Question 13

Which of the following statements regarding segmentation bases is most accurate?

Accepted Answer

A)   The identification of demographic variables is more objective than the identification of psychographic variables, which is more subjective.
B)   Marketers should use segmentation bases in this order to reduce potential costs: behavioral, demographic, psychographic, and geographic.
C)   The identification of psychographic variables is more objective than the identification of demographic variables, which is more subjective.
D)   Behavioral segmentation is based primarily on personality.
E)   Psychographic segmentation is based primarily on product features.F) C) and D)
G) C) and E)

Question 14

The Zappos segmentation strategy is based on

Accepted Answer

A)   offering the best selection of shoes and the best service to online shoppers.
B)   designing shoes for every type of occasion.
C)   dividing all their customers into two distinct segments: people shopping for low price and people shopping for style.
D)   offering the best access to fashionable shoes through multiple channels of distribution.
E)   maintaining the simplest method of price points to make the purchase process easy.F) D) and E)
G) A) and D)

Question 15

Marketing synergies often come at the expense of product synergies because

Accepted Answer

A)   product synergies are more effective for penetrating a market rather than creating one.
B)   multiple market segments usually require multiple products.
C)   it is easier to change a product than to completely develop a new marketing plan.
D)   a single customer segment will likely require a variety of products, each of which must be designed and manufactured.
E)   no company can afford to do both at the same time.F) B) and C)
G) C) and D)

Question 16

The first step in segmenting and targeting markets that links customer needs to marketing actions is to

Accepted Answer

A)   group potential buyers into segments.
B)   develop a market-product grid and estimate size of the overall market.
C)   select target markets.
D)   group products to be sold into categories.
E)   take marketing actions to reach target markets.F) None of the above
G) A) and B)

Question 17

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) All of the above
G) A) and B)

Question 18

All of the following are psychographic segmentation variables except which?

Accepted Answer

A)   lifestyle
B)   needs
C)   birth era
D)   PRIZM
E)   personalityF) A) and D)
G) B) and E)

Question 19

Which of the following is a step necessary in determining effective positioning of one of its products?

Accepted Answer

A)   decide whether to keep or delete the market segment that your product offering targets
B)   identify the key differentiators for competitors' brands
C)   discover how target customers rate a company's product or brand on important attributes
D)   create a marketing plan based on customers' perceptions
E)   identify market niches that were not selected during the market segmentation processF) A) and E)
G) D) and E)

Question 20

Market-product grid refers to

Accepted Answer

A)   a visual representation of all products offered within a specific product class.
B)   a framework used to compare the relative market share of one firm's product offerings to those of its competitors.
C)   a technique that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.
D)   a framework used to relate the market segments of potential buyers to products offered or potential marketing actions by an organization.
E)   a technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products.F) A) and B)
G) A) and D)

Exam 8: Market Segmentation, targeting, and Positioning

What are the segmentation bases for U.S.organizational (business)markets?

Correct AnswerverifiedOrganizational (business)marke...View AnswerShow Answer

During its market segmentation process for the Nike LeBron X basketball shoe,which sells for more than $200 a pair,Nike decided to concentrate on affluent teens rather than members of high school basketball teams.This is an example of

Correct AnswerverifiedA

A market-product grid is a framework to relate the market segments of potential buyers to

Correct AnswerverifiedB

A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products is referred to as

Correct AnswerverifiedE

Which of the following is not a criterion that would support forming market segments?

Correct AnswerverifiedShow Answer

Which of the following statements best illustrates geographic segmentation?

Correct AnswerverifiedShow Answer

Which of the following statements regarding when and how to segment markets is most accurate?

Correct AnswerverifiedShow Answer

Market segments refers to

Correct AnswerverifiedShow Answer

Which of the following statements about Zappos is most accurate?

Correct AnswerverifiedShow Answer

Apple's iPhone has a feature known as Apple Pay that lets you use your phone to pay for credit purchases,meaning you could leave your wallet at home.This feature sets the smartphone apart from its competitors and is part of Apple's ___________ strategy.

Correct AnswerverifiedShow Answer

The phrase "relatively homogeneous collections of prospective buyers" is most descriptive of

Correct AnswerverifiedShow Answer

More than half of all U.S.households are composed of only one or two persons,so Aunt Jemima offers one serving meals,such as its Ham & Egg Scramble and Oatmeal Pancakes.Aunt Jemima is using __________ as the basis to segment its market.

Correct AnswerverifiedShow Answer

Which of the following statements regarding segmentation bases is most accurate?

Correct AnswerverifiedShow Answer

The Zappos segmentation strategy is based on

Correct AnswerverifiedShow Answer

Marketing synergies often come at the expense of product synergies because

Correct AnswerverifiedShow Answer

The first step in segmenting and targeting markets that links customer needs to marketing actions is to

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

All of the following are psychographic segmentation variables except which?

Correct AnswerverifiedShow Answer

Which of the following is a step necessary in determining effective positioning of one of its products?

Correct AnswerverifiedShow Answer

Market-product grid refers to

Correct AnswerverifiedShow Answer

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