Question 1

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

Question 2

Australia-based Renewable Energy Ltd. sells a $10 million device that converts manure into energy. One of these devices is capable of generating energy equal to $2 million of natural gas per year. The company believes its target market consists of businesses similar to its first customer, a fertilizer manufacturer that was located in a rural area. If the firm expands to the United States, it most likely will use which of the following strategies to segment its market?

Accepted Answer

A)   behavioral and geographic
B)   number of employees and behavioral
C)   purchase location and purchase type
D)   NAICS code and geographic
E)   behavioral and NAICS codeF) A) and B)
G) All of the above

Question 3

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

Question 4

Cannibalization would most likely occur if

Accepted Answer

A)   Dell adds high-end speaker systems to its line.
B)   General Mills launches Caramel Crunch Cheerios.
C)   General Motors markets a motorcycle similar to the Can-Am Spyder Roadster three-wheel bike.
D)   Pillsbury adds boxed sugar to its product mix.
E)   Procter & Gamble adds a new line of baby clothing to its Pampers stable of products.F) C) and D)
G) B) and C)

Question 5

In an the Apple market-product grid for its personal computer line, the iMac is popular among all the segments Apple can target. This product would allows Apple to enjoy

Accepted Answer

A)   segmentation synergies.
B)   marketing synergies.
C)   product synergies.
D)   the benefits of the 80/20 rule.
E)   frequency marketing.F) All of the above
G) A) and B)

Question 6

Behavioral segmentation may be based on

Accepted Answer

A)   lifestyles and demographics.
B)   retailer and wholesaler behaviors.
C)   geographic and demographic criteria.
D)   product features and user status.
E)   demand and supply.F) C) and D)
G) D) and E)

Question 7

What are the three types of data needed from consumers to develop a perceptual map?

Accepted Answer

In determining a brand's position and th...

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

Question 9

Explain the 80/20 rule.

Accepted Answer

Usage rate is sometimes referred to in t...

Question 10

Magazines such as Condé Nast Traveler, Field & Stream, Golf Digest, and Fitness 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 C)
G) D) and E)

Question 11

Which of the following is an example of a multiple products, 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 United States.
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)   Betty Crocker carries one line of cake mixes for people with conventional ovens and another line of cake mixes for people with microwave ovens.
E)   Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.F) B) and D)
G) A) and C)

Question 12

Name Maker is an online company that sells, among other items, 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 an example of

Accepted Answer

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

Question 13

Nike employs a ________ strategy at its website, nikeid.com, which allows customers to design a sneaker to their own personal specifications.

Accepted Answer

A)   product sampling
B)   product clustering
C)   mass customization
D)   usage segmentation
E)   psychographic segmentationF) A) and E)
G) B) and E)

Question 14

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) None of the above
G) A) and B)

Question 15

When considering the quick-service restaurant competition, it will be most important for Wendy's to consider not only the offerings of Burger King, McDonald's, Five Guys, and other hamburger chains but also the

Accepted Answer

A)   meals at golf and country clubs.
B)   dormitory meal plans at surrounding colleges and universities.
C)   items for sale at gas stations and convenience stores.
D)   local farmer's markets that sell produce.
E)   nearly every food item sold at local grocery stores.F) C) and E)
G) A) and B)

Question 16

Head-to-head positioning requires a product to

Accepted Answer

A)   compete with products from competitors of the same size and country of origin.
B)   compete with competitors on similar product attributes but in a different market.
C)   compete with competitors on similar product attributes in the same market.
D)   compete against very similar products from its own company.
E)   compete against a single competitor with an identical offering.F) A) and E)
G) C) and D)

Question 17

What is market segmentation and why is it important?

Accepted Answer

People have different needs and wants, e...

Question 18

Alamo, a national car rental firm, targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year. The company is using ________ segmentation.

Accepted Answer

A)   geographic
B)   demographic
C)   loyalty
D)   psychographic
E)   behavioralF) C) and E)
G) None of the above

Question 19

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) B) and D)
G) None of the above

Question 20

Apple's iPhone X has a feature known as Face ID that lets users securely unlock the phone, authenticate purchases, or sign in to apps with just a glance. 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) C) and E)
G) A) and B)

Exam 8: Market Segmentation, Targeting, and Positioning

Head-to-head positioning requires a product to

Correct Answer
verified

Magazines such as Condé Nast Traveler, Field & Stream, Golf Digest, and Fitness focus on how people live their lives, and thus all use a ________ segmentation strategy.

Correct Answer
verified

In an the Apple market-product grid for its personal computer line, the iMac is popular among all the segments Apple can target. This product would allows Apple to enjoy

Correct Answer
verified

Apple's iPhone X has a feature known as Face ID that lets users securely unlock the phone, authenticate purchases, or sign in to apps with just a glance. This feature sets the smartphone apart from its competitors and is part of Apple's ________ strategy.

Correct Answer
verified

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

Correct Answer
verified

Name Maker is an online company that sells, among other items, 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 an example of

Correct Answer
verified

A positioning approach that involves seeking a less competitive, smaller market niche in which to locate a brand is referred to as

Correct Answer
verified

Alamo, a national car rental firm, targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year. The company is using ________ segmentation.

Correct Answer
verified

Behavioral segmentation may be based on

Correct Answer
verified

Cannibalization would most likely occur if

Correct Answer
verified

Correct Answer
verified

"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

What are the three types of data needed from consumers to develop a perceptual map?

Correct Answer
verified
In determining a brand's position and th...
View 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 Answer
verified

Marketing synergies often come at the expense of product synergies because

Correct Answer
verified

Explain the 80/20 rule.

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

When considering the quick-service restaurant competition, it will be most important for Wendy's to consider not only the offerings of Burger King, McDonald's, Five Guys, and other hamburger chains but also the

Correct Answer
verified

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

Correct Answer
verified

What is market segmentation and why is it important?

Correct Answer
verified
People have different needs and wants, e...
View Answer

Nike employs a ________ strategy at its website, nikeid.com, which allows customers to design a sneaker to their own personal specifications.

Correct Answer
verified

Exam 8: Market Segmentation, Targeting, and Positioning

Head-to-head positioning requires a product to

Correct AnswerverifiedShow Answer

Magazines such as Condé Nast Traveler, Field & Stream, Golf Digest, and Fitness focus on how people live their lives, and thus all use a ________ segmentation strategy.

Correct AnswerverifiedShow Answer

In an the Apple market-product grid for its personal computer line, the iMac is popular among all the segments Apple can target. This product would allows Apple to enjoy

Correct AnswerverifiedShow Answer

Apple's iPhone X has a feature known as Face ID that lets users securely unlock the phone, authenticate purchases, or sign in to apps with just a glance. This feature sets the smartphone apart from its competitors and is part of Apple's ________ strategy.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Name Maker is an online company that sells, among other items, 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 an example of

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

Alamo, a national car rental firm, targets 50 percent of its advertising to salespeople who rent a car over 40 weeks per year. The company is using ________ segmentation.

Correct AnswerverifiedShow Answer

Behavioral segmentation may be based on

Correct AnswerverifiedShow Answer

Cannibalization would most likely occur if

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow 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

What are the three types of data needed from consumers to develop a perceptual map?

Correct AnswerverifiedIn determining a brand's position and th...View AnswerShow 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

Marketing synergies often come at the expense of product synergies because

Correct AnswerverifiedShow Answer

Explain the 80/20 rule.

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

When considering the quick-service restaurant competition, it will be most important for Wendy's to consider not only the offerings of Burger King, McDonald's, Five Guys, and other hamburger chains but also the

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

What is market segmentation and why is it important?

Correct AnswerverifiedPeople have different needs and wants, e...View AnswerShow Answer

Nike employs a ________ strategy at its website, nikeid.com, which allows customers to design a sneaker to their own personal specifications.

Correct AnswerverifiedShow Answer

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In determining a brand's position and th...
View Answer

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verified

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

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verified

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People have different needs and wants, e...
View Answer

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