Question 1

The Walt Disney Company carefully markets two distinct Winnie-the-Poohs;one is the original line-drawn figures on fine china sold at Nordstrom and the other is a cartoon-like Pooh on polyester bed sheets sold at Target.This is an example of

Accepted Answer

A)  mass customization.
B)  a "Tiffany/Walmart" strategy.
C)  one product and multiple market segments.
D)  price discrimination.
E)  psychographic market segmentation.F) C) and D)
G) B) and D)

Question 2

Hallmark placed its scrapbook supplies,photo albums,and related supplies into one product group because

Accepted Answer

A)  it was easier to forecast future sales since there were fewer market-product combinations.
B)  customers could buy in quantity and take advantage of quantity discounts.
C)  their suppliers provided free displays and shelving to highlight Hallmark's products.
D)  it helped buyers relate to the products and make decisions in a more meaningful way.
E)  it allowed customers to compare price and quality with competitors who displayed their products in a similar manner.F) C) and D)
G) A) and D)

Question 3

Many 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) A) and B)
G) A) and E)

Question 4

As Figure 9-7 above shows,there are three general bases used to segment organizational markets in the U.S. ,each having its own segmentation variables and typical breakdowns that can be used to segment them."B" describes the __________ base of segmentation.

Accepted Answer

A)  behavioral
B)  geographic
C)  psychographic
D)  product
E)  demographicF) B) and E)
G) A) and D)

Question 5

The quantity consumed or patronage (store visits) during a specific period is referred to as

Accepted Answer

A)  usage rate.
B)  purchase metric.
C)  consumption index.
D)  consumption rate.
E)  demand amount.F) A) and B)
G) A) and C)

Question 6

Figure 9-9 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.The strategy most likely to exploit marketing synergies and efficiencies would be to target

Accepted Answer

A)  lunch customers.
B)  between-meal snack customers.
C)  dinner customers.
D)  after-dinner snack customers.
E)  apartment customers.F) B) and D)
G) All of the above

Question 7

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

Question 8

A marketing manager should develop segments for a market that meet five principal criteria.List these important factors in forming market segments.

Accepted Answer

The five criteria are: (1)simplicity and...

Question 9

The segmentation strategy used by Prince Sports today is

Accepted Answer

A)  geographic.
B)  behavioral.
C)  psychographic.
D)  socioeconomic.
E)  resource-based.F) C) and E)
G) B) and D)

Question 10

When expenses are greater than the potential increased sales from market segmentation,a firm should

Accepted Answer

A)  not consider market segmentation at this time.
B)  combine departments within the company to make the process more streamlined.
C)  reduce production costs or increase prices to facilitate the segmentation process.
D)  seek alternate channels of distribution,including Internet sales.
E)  discontinue manufacturing any products that are not in the mature stage of their product life cycle.F) None of the above
G) B) and E)

Question 11

The O3 technology refers to an innovative tennis racquet Prince Sports developed that simultaneously delivers faster racquet speed and a bigger "sweet spot" in the middle of the frame.Prince Sports has implemented a __________ strategy with its O3 innovative tennis racquet technology.

Accepted Answer

A)  competitive segmentation
B)  head-to-head
C)  product differentiation
D)  usage segmentation
E)  market segmentationF) C) and E)
G) C) and D)

Question 12

Variables such as location,the North American Industry Classification System (NAICS) code,and type of buy are all examples of ways to

Accepted Answer

A)  differentiate products.
B)  forecast sales to a consumer market.
C)  segment an organizational market.
D)  segment a consumer market.
E)  promote NAFTA.F) B) and D)
G) D) and E)

Question 13

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

Accepted Answer

A)  similarity of needs of potential buyers within a segment
B)  difference of needs of buyers between segments
C)  expected growth of a segment
D)  feasibility of a marketing action to reach a segment
E)  simplicity and cost of assigning potential buyers to segmentsF) A) and B)
G) B) and D)

Question 14

The second step in segmenting and targeting markets that link 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)  take marketing actions to reach target markets.
E)  group products to be sold into categories.F) C) and D)
G) A) and B)

Question 15

The purpose of market segmentation is to respond more effectively to the wants of groups of potential buyers in order to

Accepted Answer

A)  maintain market share.
B)  increase sales and profits.
C)  assume social responsibility.
D)  use the firm's resources most efficiently.
E)  provide the best quality products on the market.F) All of the above
G) A) and B)

Question 16

Alamo,a car rental firm,targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year.Alamo likely segments its market by

Accepted Answer

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

Question 17

Magazines like Fitness,Field & Stream,Golf Digest,and Health focus on how people live their lives,and thus all use a __________ segmentation strategy.

Accepted Answer

A)  psychographic
B)  behavioral
C)  situational
D)  socioeconomic
E)  geographicF) A) and B)
G) C) and D)

Question 18

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

Question 19

All of the following would be a logical way to group the products Wendy's sells at its restaurants EXCEPT:

Accepted Answer

A)  dinner
B)  burgers
C)  breakfast
D)  between-meal snacks
E)  lunchF) C) and E)
G) A) and E)

Question 20

A business firm goes to the trouble and expense of segmenting its markets when

Accepted Answer

A)  it changes its advertising campaign.
B)  competitors enter the marketplace.
C)  the environment becomes uncertain.
D)  it expects that this will increase its sales,profit,and return on investment.
E)  there is a recessionary economic environment.F) A) and C)
G) A) and D)

Exam 9: Market Segmentation, Targeting, and Positioning

All of the following would be a logical way to group the products Wendy's sells at its restaurants EXCEPT:

Correct Answer
verified

As Figure 9-7 above shows,there are three general bases used to segment organizational markets in the U.S. ,each having its own segmentation variables and typical breakdowns that can be used to segment them."B" describes the __________ base of segmentation.

Correct Answer
verified

The segmentation strategy used by Prince Sports today is

Correct Answer
verified

The second step in segmenting and targeting markets that link customer needs to marketing actions is to

Correct Answer
verified

Figure 9-9 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.The strategy most likely to exploit marketing synergies and efficiencies would be to target

Correct Answer
verified

The purpose of market segmentation is to respond more effectively to the wants of groups of potential buyers in order to

Correct Answer
verified

The O³ technology refers to an innovative tennis racquet Prince Sports developed that simultaneously delivers faster racquet speed and a bigger "sweet spot" in the middle of the frame.Prince Sports has implemented a __________ strategy with its O³innovative tennis racquet technology.

Correct Answer
verified

The quantity consumed or patronage (store visits) during a specific period is referred to as

Correct Answer
verified

Market segmentation refers to

Correct Answer
verified

Variables such as location,the North American Industry Classification System (NAICS) code,and type of buy are all examples of ways to

Correct Answer
verified

When expenses are greater than the potential increased sales from market segmentation,a firm should

Correct Answer
verified

Hallmark placed its scrapbook supplies,photo albums,and related supplies into one product group because

Correct Answer
verified

A market-product grid refers to

Correct Answer
verified

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

Correct Answer
verified

Magazines like Fitness,Field & Stream,Golf Digest,and Health focus on how people live their lives,and thus all use a __________ segmentation strategy.

Correct Answer
verified

A business firm goes to the trouble and expense of segmenting its markets when

Correct Answer
verified

Correct Answer
verified

A marketing manager should develop segments for a market that meet five principal criteria.List these important factors in forming market segments.

Correct Answer
verified
The five criteria are: (1)simplicity and...
View Answer

The Walt Disney Company carefully markets two distinct Winnie-the-Poohs;one is the original line-drawn figures on fine china sold at Nordstrom and the other is a cartoon-like Pooh on polyester bed sheets sold at Target.This is an example of

Correct Answer
verified

Alamo,a car rental firm,targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year.Alamo likely segments its market by

Correct Answer
verified

Exam 9: Market Segmentation, Targeting, and Positioning

All of the following would be a logical way to group the products Wendy's sells at its restaurants EXCEPT:

Correct AnswerverifiedShow Answer

As Figure 9-7 above shows,there are three general bases used to segment organizational markets in the U.S. ,each having its own segmentation variables and typical breakdowns that can be used to segment them."B" describes the __________ base of segmentation.

Correct AnswerverifiedShow Answer

The segmentation strategy used by Prince Sports today is

Correct AnswerverifiedShow Answer

The second step in segmenting and targeting markets that link customer needs to marketing actions is to

Correct AnswerverifiedShow Answer

Figure 9-9 above shows the market-product grid for a Wendy's restaurant next to a large urban university campus.The strategy most likely to exploit marketing synergies and efficiencies would be to target

Correct AnswerverifiedShow Answer

The purpose of market segmentation is to respond more effectively to the wants of groups of potential buyers in order to

Correct AnswerverifiedShow Answer

The O3 technology refers to an innovative tennis racquet Prince Sports developed that simultaneously delivers faster racquet speed and a bigger "sweet spot" in the middle of the frame.Prince Sports has implemented a __________ strategy with its O3 innovative tennis racquet technology.

Correct AnswerverifiedShow Answer

The quantity consumed or patronage (store visits) during a specific period is referred to as

Correct AnswerverifiedShow Answer

Market segmentation refers to

Correct AnswerverifiedShow Answer

Variables such as location,the North American Industry Classification System (NAICS) code,and type of buy are all examples of ways to

Correct AnswerverifiedShow Answer

When expenses are greater than the potential increased sales from market segmentation,a firm should

Correct AnswerverifiedShow Answer

Hallmark placed its scrapbook supplies,photo albums,and related supplies into one product group because

Correct AnswerverifiedShow Answer

A market-product grid refers to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Magazines like Fitness,Field & Stream,Golf Digest,and Health focus on how people live their lives,and thus all use a __________ segmentation strategy.

Correct AnswerverifiedShow Answer

A business firm goes to the trouble and expense of segmenting its markets when

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A marketing manager should develop segments for a market that meet five principal criteria.List these important factors in forming market segments.

Correct AnswerverifiedThe five criteria are: (1)simplicity and...View AnswerShow Answer

The Walt Disney Company carefully markets two distinct Winnie-the-Poohs;one is the original line-drawn figures on fine china sold at Nordstrom and the other is a cartoon-like Pooh on polyester bed sheets sold at Target.This is an example of

Correct AnswerverifiedShow Answer

Alamo,a car rental firm,targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year.Alamo likely segments its market by

Correct AnswerverifiedShow Answer

Correct Answer
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verified

Correct Answer
verified

Correct Answer
verified

The O³ technology refers to an innovative tennis racquet Prince Sports developed that simultaneously delivers faster racquet speed and a bigger "sweet spot" in the middle of the frame.Prince Sports has implemented a __________ strategy with its O³innovative tennis racquet technology.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
The five criteria are: (1)simplicity and...
View Answer

Correct Answer
verified

Correct Answer
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