Question 1

Define what is meant by the concept of the "80/20 rule".

Accepted Answer

Usage rate is sometimes referred to in t...

Question 2

FIGURE 9-2 
-The Sporting News Baseball Yearbook uses 16 different covers featuring a baseball star from each of its regions in the United States.Four samples are shown in Figure 9-2 above.This is a great example of a

Accepted Answer

A)  interest-based segmentation.
B)  segmenting organizational markets.
C)  one product and multiple market segments.
D)  multiple products and multiple market segments.
E)  segments of one, or mass customization.F) B) and E)
G) A) and B)

Question 3

Universal Concerts is planning on bringing a series of concerts to Canada next year.In general, Western Canadians much prefer country music, yet in Eastern Canada a country music event is very likely to have lots of empty seats.If they can have only one venue, Universal Concerts should segment its Canadian market according to __________, if it hopes to have a sold-out concert.

Accepted Answer

A)  geographic characteristics
B)  demographic characteristics
C)  socioeconomic characteristics
D)  social class
E)  psychographicsF) B) and C)
G) A) and E)

Question 4

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

Accepted Answer

A)  a listing of all prospective brands and products
B)  managerial judgments about how consumers perceive products
C)  rank order of the ratings of a existing brand's preference relative to its competitors
D)  judgments of existing products or brands with respect to important attributes
E)  detailed explanations of why consumers make the choices they doF) A) and B)
G) C) and E)

Question 5

Figure 9-6 above 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)  Boston consultant group matrix
E)  Above-, at-, or below-market pricing matrixF) A) and E)
G) B) and C)

Question 6

Criteria for forming segments involve both similarities and differences.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 C)
G) All of the above

Question 7

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

Accepted Answer

A)  a listing of all prospective brands and products
B)  ratings of an "ideal" product's or brand's attributes
C)  managerial judgments about how consumers perceive products
D)  rank order of the ratings of a existing brand's preference relative to its competitors
E)  detailed explanations of why consumers make the choices they doF) A) and B)
G) All of the above

Question 8

Which of the following is a criterion used for selecting a target segment?

Accepted Answer

A)  potential for increased profit
B)  similarity of needs of potential buyers within a segment
C)  difference of needs of buyers among segments
D)  potential of a marketing action to reach a segment
E)  compatibility with the organization's objectives and resourcesF) A) and B)
G) C) and D)

Question 9

In the sneaker market, Reebok and Nike practice __________ positioning since both manufacturers compete in the same target market with similar product attributes.

Accepted Answer

A)  parallel market
B)  distinction
C)  differentiation
D)  head-to-head
E)  confrontationalF) B) and E)
G) A) and B)

Question 10

The second step in segmenting and targeting markets is to

Accepted Answer

A)  group potential buyers into segments.
B)  group products to be sold into categories.
C)  develop a market-product grid and estimate size of the overall market.
D)  select target markets.
E)  take marketing actions to reach markets.F) B) and D)
G) All of the above

Question 11

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 a new one.
B)  a multiple market segment would usually require multiple products.
C)  it is easier to change a product than to completely build a new marketing plan.
D)  a single customer segment will likely require a variety of products.
E)  no company can afford to do both at the same time.F) A) and D)
G) B) and C)

Question 12

A perceptual map can be used to identify a firm's product in terms of how closely it fits the "ideal" and where it fits in relationship to competitors.The map is based on perceptions of

Accepted Answer

A)  intermediaries.
B)  competitors.
C)  consumers.
D)  competitors, consumers, and the firm itself.
E)  independent rating organizations such as Consumer Reports.F) A) and B)
G) A) and C)

Question 13

The 80/20 rule is most closely related to which consumer segmentation variable?

Accepted Answer

A)  geographic
B)  psychographic
C)  benefits sought
D)  age
E)  usageF) A) and E)
G) B) and C)

Question 14

People who might become users of the type of good or service your firm sells are referred to as

Accepted Answer

A)  leads.
B)  prospects.
C)  non-prospects.
D)  ultimate consumers.
E)  undefined prospects.F) C) and D)
G) A) and C)

Question 15

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)  total anticipated revenue.
C)  total anticipated profit.
D)  market share of the closest competitor.
E)  products offered or potential marketing actions by an organization.F) C) and D)
G) A) and B)

Question 16

FIGURE 9-6 
-The perceptual map in Figure 9-6 above shows how various drinks are seen in the minds of adult consumers.Suppose a coffee producer wants to increase sales.Its advertising agency recommends that it run ads showing that coffee is healthier than one or more competitive drinks shown in the figure.In the ads, coffee should be compared with

Accepted Answer

A)  skinny lattes.
B)  fruit-flavored drinks.
C)  sugared soft drinks.
D)  fruit-flavored drinks and sugared soft drinks.
E)  both sugared soft drinks and skinny lattes.F) B) and E)
G) A) and B)

Question 17

Magnavox sells its target markets many different types of TVs from flat screens to a 20" combination TV/DVD.The larger sets can be outfitted with surround sound at a higher price than the smaller sets.The small set is much less expensive and allows the viewer to watch a DVD without extra equipment.Magnavox is using which type of segmentation variable in this example?

Accepted Answer

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

Question 18

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

Accepted Answer

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

Question 19

When new products or a new chain steals customers and sales from older existing ones it is referred to as

Accepted Answer

A)  cannibalization.
B)  amortization.
C)  product appropriation.
D)  profit pilfering.
E)  profit implosion.F) A) and D)
G) A) and C)

Question 20

After establishing the markets and product groupings on a market-product grid the next step is to

Accepted Answer

A)  fill in the appropriate cells with precise statistical data from primary and secondary sources.
B)  make intelligent "guesstimates" of market size, for example, using a simple scale from zero to three (no market, a small market, a medium market, and large market) .
C)  total the vertical columns to identify the greatest marketing synergies and efficiencies.
D)  total the horizontal columns to identify greatest operations/production synergies and efficiencies.
E)  identify the simplest marketing action to take and select the corresponding target market.F) A) and E)
G) B) and E)

Exam 9: Market Segmentation, Targeting, and Positioning

When new products or a new chain steals customers and sales from older existing ones it is referred to as

Correct Answer
verified

The second step in segmenting and targeting markets is to

Correct Answer
verified

Correct Answer
verified

Figure 9-6 above is a depiction of a _________ for beverages in the minds of adults.

Correct Answer
verified

People who might become users of the type of good or service your firm sells are referred to as

Correct Answer
verified

Correct Answer
verified

In the sneaker market, Reebok and Nike practice __________ positioning since both manufacturers compete in the same target market with similar product attributes.

Correct Answer
verified

The 80/20 rule is most closely related to which consumer segmentation variable?

Correct Answer
verified

After establishing the markets and product groupings on a market-product grid the next step is to

Correct Answer
verified

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

Correct Answer
verified

Criteria for forming segments involve both similarities and differences.The similarities must be __ a segment, and the differences must be segments.

Correct Answer
verified

FIGURE 9-2 -The Sporting News Baseball Yearbook uses 16 different covers featuring a baseball star from each of its regions in the United States.Four samples are shown in Figure 9-2 above.This is a great example of a

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

Correct Answer
verified

A perceptual map can be used to identify a firm's product in terms of how closely it fits the "ideal" and where it fits in relationship to competitors.The map is based on perceptions of

Correct Answer
verified

Marketing synergies often come at the expense of product synergies because

Correct Answer
verified

Define what is meant by the concept of the "80/20 rule".

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

Which of the following is a criterion used for selecting a target segment?

Correct Answer
verified

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

Correct Answer
verified

Exam 9: Market Segmentation, Targeting, and Positioning

When new products or a new chain steals customers and sales from older existing ones it is referred to as

Correct AnswerverifiedShow Answer

The second step in segmenting and targeting markets is to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Figure 9-6 above is a depiction of a _________ for beverages in the minds of adults.

Correct AnswerverifiedShow Answer

People who might become users of the type of good or service your firm sells are referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In the sneaker market, Reebok and Nike practice __________ positioning since both manufacturers compete in the same target market with similar product attributes.

Correct AnswerverifiedShow Answer

The 80/20 rule is most closely related to which consumer segmentation variable?

Correct AnswerverifiedShow Answer

After establishing the markets and product groupings on a market-product grid the next step is to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Criteria for forming segments involve both similarities and differences.The similarities must be ____________ a segment, and the differences must be __________ segments.

Correct AnswerverifiedShow Answer

FIGURE 9-2 -The Sporting News Baseball Yearbook uses 16 different covers featuring a baseball star from each of its regions in the United States.Four samples are shown in Figure 9-2 above.This is a great example of a

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

Correct AnswerverifiedShow Answer

A perceptual map can be used to identify a firm's product in terms of how closely it fits the "ideal" and where it fits in relationship to competitors.The map is based on perceptions of

Correct AnswerverifiedShow Answer

Marketing synergies often come at the expense of product synergies because

Correct AnswerverifiedShow Answer

Define what is meant by the concept of the "80/20 rule".

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

Which of the following is a criterion used for selecting a target segment?

Correct AnswerverifiedShow Answer

Which of the following data are collected from consumers to develop a perceptual map for a particular product?

Correct AnswerverifiedShow Answer

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Criteria for forming segments involve both similarities and differences.The similarities must be __ a segment, and the differences must be segments.

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