Question 1

Market segmentation involves aggregating prospective buyers into groups that (1) will respond similarly to a marketing action and (2)

Accepted Answer

A)   respond similarly to marketing messages.
B)   have common needs.
C)   have similar shopping styles.
D)   will become loyal customers.
E)   will become stakeholders of the organization.F) A) and B)
G) B) and C)

Question 2

Which of the following statements about Zappos is most accurate?

Accepted Answer

A)   Zappos limits its inventory to an extensive 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 nothing else."
E)   Zappos offers a 30/60/90 return policy whereby refunds are based on how long you've had the shoes.F) A) and B)
G) B) and E)

Question 3

Which of the following is an example of a "Tiffany/Walmart" strategy?

Accepted Answer

A)   College Football magazine selects different covers for essentially the same magazine in order to appeal to different geographic markets in the U.S.
B)   A new movie used several different movie trailers. One set of previews showed the action scenes in order to attract one audience and the other set showed romantic scenes to attract another audience.
C)   Arm and Hammer Baking Soda can be used for baking and to remove odors from refrigerators and litter boxes.
D)   Gap's Banana Republic chain sells blue jeans for $58, whereas its Old Navy stores sell a slightly different version for $22.
E)   Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.F) A) and D)
G) A) and C)

Question 4

Kellogg's different cereals are each targeted at a different type of user.This is an example of multiple products aimed at multiple markets.Manufacturing these different cereals is clearly more expensive than producing one but seems worthwhile if it adds to the manufacturer's sales revenues and profits,doesn't reduce quality or increase price,and

Accepted Answer

A)   conforms to all FDA guidelines.
B)   uses the same promotion and packaging for all segments.
C)   decreases the cost of the physical plant.
D)   stabilizes the sales revenues and profits.
E)   better serves customers' needs.F) B) and E)
G) D) and E)

Question 5

Figure 9-10
-the early 1980s,Apple,Inc.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, they occasionally 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 B)
G) A) and C)

Question 6

companies have cut travel budgets so that very few business people are authorized to fly first class.Despite the shrinking pool of business-class travelers,British Airways has grown market share for its transatlantic business class by offering greater comfort.Promotions to frequent fliers stress that passengers can sleep in fully reclining seats and arrive refreshed to carry out a full day's schedule.The segmentation strategy of British Airways is an example of

Accepted Answer

A)   life stage segmentation.
B)   lifestyle segmentation.
C)   social class segmentation.
D)   behavioral segmentation.
E)   psychographic segmentation.F) C) and D)
G) C) and E)

Question 7

Wendy's customers are buying an eating experience,which of the following rationales would make the most sense if you were to group the products Wendy's sells?

Accepted Answer

A)   grouping by product type such as types of drinks
B)   grouping by price
C)   grouping by meal occasion
D)   grouping by usage rate
E)   grouping by individual item (hamburgers, fries, etc.) F) All of the above
G) A) and C)

Question 8

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 cost savings in manufacturing 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 segment higher prices without changing the product.F) All of the above
G) A) and E)

Question 9

Nielsen PRIZM (part of Nielsen Claritas) lifestyle segmentation is based on the belief that "birds of a feather flock together." This type of consumer segmentation is referred to as

Accepted Answer

A)   psychographic segmentation.
B)   behavioral segmentation.
C)   situational segmentation.
D)   socioeconomic segmentation.
E)   geographic segmentation.F) C) and D)
G) None of the above

Question 10

Which of the following is a criterion used in forming market segments?

Accepted Answer

A)   your competitors have similar segments
B)   differences between potential suppliers or distributors
C)   differences of needs of buyers within segments
D)   no marketing action to reach a segment
E)   simplicity and cost of assigning potential buyers to segmentsF) All of the above
G) A) and D)

Question 11

Universal Concerts wants to bring a series of country music concerts to Canada next year.In general,Western Canadians much prefer country music while Eastern Canadians prefer rock.Thus,a country music event in eastern Canada is very likely to have lots of empty seats even though it is more populous than the western part of the country.If it can book 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)   music format characteristics
D)   behavioral characteristics
E)   psychographic characteristicsF) A) and B)
G) A) and C)

Question 12

There are five steps involved in segmenting and targeting markets.What should a marketer do after he or she has grouped products to be sold into categories?

Accepted Answer

A)   create product groupings
B)   develop a market-product grid and estimate size of markets
C)   identify market needs
D)   take marketing actions to reach target markets
E)   form prospective buyers into market segmentsF) B) and C)
G) A) and D)

Question 13

Which of the following is an example of a multiple products and multiple market segments strategy?

Accepted Answer

A)   College Football magazine selects different covers for essentially the same magazine in order to appeal to different geographic markets in the U.S.
B)   A new movie used several different movie trailers. One set of previews showed the action scenes in order to attract one audience and the other set showed romantic scenes to attract another audience.
C)   Ford manufactures SUVs for those who wish to carry lots of people and pickup trucks for those who wish to carry lots of cargo.
D)   Arm and Hammer Baking Soda can be used for baking and to remove odors from refrigerators and litter boxes.
E)   Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.F) D) and E)
G) C) and E)

Question 14

Kellogg's different types of cereals are each targeted at a different type of user.This is an example of multiple products aimed at multiple markets.Manufacturing these different cereals is clearly more expensive than producing one,but seems worthwhile if it serves customers' needs better,doesn't reduce quality or increase price,and

Accepted Answer

A)   conforms to all FDA guidelines.
B)   adds to the manufacturer's sales revenues and profits.
C)   creates economy of scale.
D)   decreases the cost of the physical plant.
E)   stabilizes the sales revenues and profits.F) B) and E)
G) None of the above

Question 15

Which of the following statements about market segmentation for organizational markets is most accurate?

Accepted Answer

A)   Criteria for segmenting markets are the same whether the market is composed of consumers or organizations.
B)   Both consumer markets and organizational markets use demographic, geographic, and behavioral bases to segment markets.
C)   Psychographic criteria are just as important in segmenting organizational markets as they are in segmenting consumer markets.
D)   Organizational markets use exactly the same selection criteria as consumer markets.
E)   The greatest difference in market segmentation strategies between consumer and organizational markets is the number of employees employed in the segmentation process.F) A) and E)
G) All of the above

Question 16

company name Zappos was chosen because it

Accepted Answer

A)   was the founder's family name.
B)   conveyed in Spanish the type of product sold.
C)   inferred how quickly you could access the product.
D)   contained letters from the names of the three founders.
E)   reflected the brand name of the first line of shoes they sold.F) D) and E)
G) None of the above

Question 17

purpose of the five key steps in segmenting and targeting markets that link customer needs to marketing actions is to

Accepted Answer

A)   identify competitors that provide similar products that satisfy a firm's customers' needs.
B)   provide guidance to reposition products.
C)   generate new products ideas for firms that are not growing in market share.
D)   link market needs of customers to the organization's marketing program.
E)   correspond directly to each of the five environmental forces.F) B) and C)
G) A) and E)

Question 18

Between 2 and 3 percent of the population have some degree of allergic reaction,usually mild,to preservatives used in salad bars.Restaurants might consider people with these "allergies" as a separate segment.To implement this segmentation strategy,restaurants would have to have a regular salad bar and a special salad bar for the allergies segment.This multiple product and multiple market segment strategy would have the greatest difficulty meeting which of the following criteria used to form market segments?

Accepted Answer

A)   different needs of buyers among different segments
B)   similarity of needs of potential buyers within a segment
C)   simplicity and cost of assigning potential buyers to segments
D)   potential for increased profit and ROI
E)   potential of a marketing action to reach a segmentF) All of the above
G) C) and D)

Question 19

Ann Taylor,a well-known retailer of sophisticated women's clothing,started losing sales to its own LOFT outlets that feature moderately priced casual clothes,Ann Taylor was dealing with the marketing phenomenon of __________.

Accepted Answer

A)   amortization
B)   product appropriation
C)   profit pilferage
D)   marketing Darwinism
E)   cannibalizationF) C) and D)
G) B) and E)

Question 20

Figure 9-6
-an owner of a Wendy's fast-food restaurant,the information in Figure 9-6 above suggests

Accepted Answer

A)   you have an advantage over both McDonald's and Burger King as being the most preferred "second choice" restaurant.
B)   most of the respondents think of Wendy's as their primary fast food restaurant.
C)   McDonald's has fewer "exclusively loyal" customers than does Wendy's.
D)   Burger King is closing in on your market share.
E)   a need to devise a marketing program to win customers from McDonald's and Burger King.F) None of the above
G) D) and E)

Exam 9: Market Segmentation,Targeting,and Positioning

purpose of the five key steps in segmenting and targeting markets that link customer needs to marketing actions is to

Correct Answer
verified

Figure 9-6 -an owner of a Wendy's fast-food restaurant,the information in Figure 9-6 above suggests

Correct Answer
verified

Figure 9-10 -the early 1980s,Apple,Inc.was often called "Camp Runamok" because

Correct Answer
verified

Ann Taylor,a well-known retailer of sophisticated women's clothing,started losing sales to its own LOFT outlets that feature moderately priced casual clothes,Ann Taylor was dealing with the marketing phenomenon of __________.

Correct Answer
verified

Correct Answer
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Nielsen PRIZM (part of Nielsen Claritas) lifestyle segmentation is based on the belief that "birds of a feather flock together." This type of consumer segmentation is referred to as

Correct Answer
verified

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

Correct Answer
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Correct Answer
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company name Zappos was chosen because it

Correct Answer
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Market segmentation involves aggregating prospective buyers into groups that (1) will respond similarly to a marketing action and (2)

Correct Answer
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Correct Answer
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Wendy's customers are buying an eating experience,which of the following rationales would make the most sense if you were to group the products Wendy's sells?

Correct Answer
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Which of the following is an example of a multiple products and multiple market segments strategy?

Correct Answer
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Correct Answer
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Which of the following statements about market segmentation for organizational markets is most accurate?

Correct Answer
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Which of the following is an example of a "Tiffany/Walmart" strategy?

Correct Answer
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Which of the following is a criterion used in forming market segments?

Correct Answer
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Which of the following statements about Zappos is most accurate?

Correct Answer
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Correct Answer
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There are five steps involved in segmenting and targeting markets.What should a marketer do after he or she has grouped products to be sold into categories?

Correct Answer
verified

Exam 9: Market Segmentation,Targeting,and Positioning

purpose of the five key steps in segmenting and targeting markets that link customer needs to marketing actions is to

Correct AnswerverifiedShow Answer

Figure 9-6 -an owner of a Wendy's fast-food restaurant,the information in Figure 9-6 above suggests

Correct AnswerverifiedShow Answer

Figure 9-10 -the early 1980s,Apple,Inc.was often called "Camp Runamok" because

Correct AnswerverifiedShow Answer

Ann Taylor,a well-known retailer of sophisticated women's clothing,started losing sales to its own LOFT outlets that feature moderately priced casual clothes,Ann Taylor was dealing with the marketing phenomenon of __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Nielsen PRIZM (part of Nielsen Claritas) lifestyle segmentation is based on the belief that "birds of a feather flock together." This type of consumer segmentation is referred to as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

company name Zappos was chosen because it

Correct AnswerverifiedShow Answer

Market segmentation involves aggregating prospective buyers into groups that (1) will respond similarly to a marketing action and (2)

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Wendy's customers are buying an eating experience,which of the following rationales would make the most sense if you were to group the products Wendy's sells?

Correct AnswerverifiedShow Answer

Which of the following is an example of a multiple products and multiple market segments strategy?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements about market segmentation for organizational markets is most accurate?

Correct AnswerverifiedShow Answer

Which of the following is an example of a "Tiffany/Walmart" strategy?

Correct AnswerverifiedShow Answer

Which of the following is a criterion used in forming market segments?

Correct AnswerverifiedShow Answer

Which of the following statements about Zappos is most accurate?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

There are five steps involved in segmenting and targeting markets.What should a marketer do after he or she has grouped products to be sold into categories?

Correct AnswerverifiedShow Answer

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