Question 1

A market-product grid is a framework to relate

Accepted Answer

A)  total estimated expenses for each product sold to each market segment.
B)  total anticipated revenue for each product-market segment combination.
C)  total anticipated profit for each product sold to each market segment.
D)  the market segments of potential buyers to relative market share compared to the closest competitor.
E)  the market segments of potential buyers to products offered or potential marketing actions by an organization.F) B) and C)
G) D) and E)

Question 2

What is market segmentation and why is it important?

Accepted Answer

Market segmentation involves aggregating...

Question 3

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a __________.

Accepted Answer

A)  payoff table
B)  cross-tabulation
C)  market-product grid
D)  growth-share matrix
E)  product differentiation tableF) A) and C)
G) A) and E)

Question 4

Name Maker is an online company that sells high-end gift wrapping that can have custom slogans or names printed on it,such as the name of a person celebrating a birthday or a couple who is getting married.This made-to-order gift-wrapping is priced from $24.95 to $32.95 per 12-foot roll.This is an example of

Accepted Answer

A)  family branding.
B)  mass customization.
C)  synergistic marketing.
D)  "Tiffany/Walmart" marketing.
E)  specialty customization.F) All of the above
G) A) and E)

Question 5

After establishing the market segments 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/or secondary sources.
B)  estimate,with intelligent "guesstimates" as necessary,the market size for each cell using a simple scale from zero to three (3 is the largest market) .
C)  total the vertical columns to identify the greatest marketing synergies and efficiencies.
D)  total the horizontal rows to identify greatest operations/production synergies and efficiencies.
E)  identify a marketing action for every product-market combination in the grid.F) B) and E)
G) B) and D)

Question 6

To the owner of a Wendy's fast food restaurant,the information in Figure 9-6 above suggests that Wendy's prospects are __________ of the total compared to __________ for McDonald's.

Accepted Answer

A)  57.0 percent,51.0 percent
B)  15.2 percent,40.5 percent
C)  14.6 percent,14.6 percent
D)  15.2 percent,19.0 percent
E)  57.0 percent,26.0 percentF) C) and E)
G) A) and D)

Question 7

In 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) B) and D)

Question 8

"For upscale American families who desire a carefree driving experience,Volvo is a premium-priced automobile that offers the utmost in safety and dependability" is a __________ statement for Volvo in North America.

Accepted Answer

A)  perception
B)  positioning
C)  market-product
D)  vision
E)  differentiationF) C) and D)
G) All of the above

Question 9

Doris Lewis owns Lewis Edibles,Inc. ,a company that makes Tongue Tinglin' BBQ Sauce.She wants to target local people who like the special blend of flavors found only in North Carolina barbecue sauce.In developing a marketing strategy to sell the sauce,Lewis decided to join Goodness Grows in North Carolina,a specialty food association that advertises local products and distributes them to local supermarkets and gourmet shops.Lewis has just

Accepted Answer

A)  formed a market segment using critical product features.
B)  formed products to be sold into groups.
C)  developed a market-product grid and estimating size of markets.
D)  taken a marketing action to reach a target market segment.
E)  formed prospective buyers into segments.F) None of the above
G) B) and D)

Question 10

There are five key steps in segmenting and targeting markets,which link market needs of customers to the organization's marketing program.List these five key steps.

Accepted Answer

The five key steps in segmenting and tar...

Question 11

ExxonMobil targets consumers that fill up their gas tanks more than once a week with its Chase Visa fuel card.In this example,ExxonMobil is using which segmentation variable?

Accepted Answer

A)  needs
B)  lifestyle
C)  behavioral
D)  psychographic
E)  demographicF) B) and D)
G) All of the above

Question 12

Mott's used an advertising campaign to change the way consumers thought about its applesauce from a dinnertime side dish to a replacement for cooking oil in baking.The advertising message was that using applesauce in baking cuts calories and makes the resulting baked good healthier.Mott's used a __________ strategy.

Accepted Answer

A)  product repositioning
B)  perceptual mapping
C)  product positioning
D)  product differentiation
E)  psychographicF) A) and B)
G) C) and E)

Question 13

Which of the following statements demonstrate the formation of a segment based on household size?

Accepted Answer

A)  Campbell's makes a spicier nacho cheese sauce for its distributors in Texas than it does in Maine.
B)  GE built a downsized microwave oven to hang under kitchen cabinets.
C)  Del Monte offers a line of canned fruit with no added sugar or artificial sweeteners.
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) A) and D)
G) None of the above

Question 14

Recently,U.S.dairies,struggling to increase milk sales,tried to change the way adults thought about chocolate milk.The dairies wanted to __________ chocolate milk in the minds of adult consumers.

Accepted Answer

A)  segment
B)  differentiate
C)  explain
D)  promote
E)  repositionF) A) and C)
G) B) and E)

Question 15

Assume you are manager of The Outback Steak House,a franchised restaurant that has opened at new location in St.Louis.Describe which segmentation base(s)and possible segmentation variable(s)you would use to segment its market and explain why each supports the appropriate market segmentation strategy.

Accepted Answer

Students should choose from the segmenta...

Question 16

The third step in segmenting and targeting markets that link customer needs to marketing actions is to __________.

Accepted Answer

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

Question 17

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

Accepted Answer

A)  aggregation
B)  organizational synergy
C)  segmentation
D)  amalgamation
E)  valuationF) None of the above
G) A) and D)

Question 18

The annual Sporting News Baseball Yearbook had exactly the same stories but with 17 different covers to appeal to baseball fans in 17 different regions of the U.S.What is the basis of its market segmentation strategy?

Accepted Answer

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

Question 19

When a telemarketer calls to sell a consumer life insurance,the last questions asked is what category does the person's household income falls into (less than $50,000;$50,000 to $99,999;and $100,000 and over) .When the telemarketer asks about household income,this indicates the use of which type of consumer variable the firm is using to segment its market?

Accepted Answer

A)  usage
B)  behavior
C)  demographic
D)  buying situation
E)  psychographicF) C) and E)
G) D) and E)

Question 20

Explain the "80/20 rule."

Accepted Answer

Usage rate is sometimes referred to in t...

Exam 9: Market Segmentation, Targeting, and Positioning

There are five key steps in segmenting and targeting markets,which link market needs of customers to the organization's marketing program.List these five key steps.

Correct Answer
verified
The five key steps in segmenting and tar...
View Answer

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a __________.

Correct Answer
verified

Correct Answer
verified

Which of the following statements demonstrate the formation of a segment based on household size?

Correct Answer
verified

Explain the "80/20 rule."

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

"For upscale American families who desire a carefree driving experience,Volvo is a premium-priced automobile that offers the utmost in safety and dependability" is a __________ statement for Volvo in North America.

Correct Answer
verified

A market-product grid is a framework to relate

Correct Answer
verified

Correct Answer
verified
Students should choose from the segmenta...
View Answer

The annual Sporting News Baseball Yearbook had exactly the same stories but with 17 different covers to appeal to baseball fans in 17 different regions of the U.S.What is the basis of its market segmentation strategy?

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

The third step in segmenting and targeting markets that link customer needs to marketing actions is to __________.

Correct Answer
verified

In the early 1980s,Apple,Inc.was often called "Camp Runamok" because

Correct Answer
verified

ExxonMobil targets consumers that fill up their gas tanks more than once a week with its Chase Visa fuel card.In this example,ExxonMobil is using which segmentation variable?

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Recently,U.S.dairies,struggling to increase milk sales,tried to change the way adults thought about chocolate milk.The dairies wanted to __________ chocolate milk in the minds of adult consumers.

Correct Answer
verified

To the owner of a Wendy's fast food restaurant,the information in Figure 9-6 above suggests that Wendy's prospects are of the total compared to for McDonald's.

Correct Answer
verified

What is market segmentation and why is it important?

Correct Answer
verified
Market segmentation involves aggregating...
View Answer

Correct Answer
verified

Exam 9: Market Segmentation, Targeting, and Positioning

There are five key steps in segmenting and targeting markets,which link market needs of customers to the organization's marketing program.List these five key steps.

Correct AnswerverifiedThe five key steps in segmenting and tar...View AnswerShow Answer

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements demonstrate the formation of a segment based on household size?

Correct AnswerverifiedShow Answer

Explain the "80/20 rule."

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

"For upscale American families who desire a carefree driving experience,Volvo is a premium-priced automobile that offers the utmost in safety and dependability" is a __________ statement for Volvo in North America.

Correct AnswerverifiedShow Answer

A market-product grid is a framework to relate

Correct AnswerverifiedShow Answer

Correct AnswerverifiedStudents should choose from the segmenta...View AnswerShow Answer

The annual Sporting News Baseball Yearbook had exactly the same stories but with 17 different covers to appeal to baseball fans in 17 different regions of the U.S.What is the basis of its market segmentation strategy?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The third step in segmenting and targeting markets that link customer needs to marketing actions is to __________.

Correct AnswerverifiedShow Answer

In the early 1980s,Apple,Inc.was often called "Camp Runamok" because

Correct AnswerverifiedShow Answer

ExxonMobil targets consumers that fill up their gas tanks more than once a week with its Chase Visa fuel card.In this example,ExxonMobil is using which segmentation variable?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Recently,U.S.dairies,struggling to increase milk sales,tried to change the way adults thought about chocolate milk.The dairies wanted to __________ chocolate milk in the minds of adult consumers.

Correct AnswerverifiedShow Answer

To the owner of a Wendy's fast food restaurant,the information in Figure 9-6 above suggests that Wendy's prospects are __________ of the total compared to __________ for McDonald's.

Correct AnswerverifiedShow Answer

What is market segmentation and why is it important?

Correct AnswerverifiedMarket segmentation involves aggregating...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified
The five key steps in segmenting and tar...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Students should choose from the segmenta...
View Answer

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

To the owner of a Wendy's fast food restaurant,the information in Figure 9-6 above suggests that Wendy's prospects are of the total compared to for McDonald's.

Correct Answer
verified

Correct Answer
verified
Market segmentation involves aggregating...
View Answer

Correct Answer
verified