Question 1

Explain what a market-product grid is and how it is used.

Accepted Answer

A market-product grid is a framework to ...

Question 2

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

Question 3

Suppose marketers want to use product differentiation and market segmentation strategies. What question should they ask when considering the potential for cannibalization with these strategies?

Accepted Answer

A)   Will our new products steal customers or sales from our older ones?
B)   Will the products compete head-to-head with those of a competitor?
C)   Can this action successfully draw customers away from competitors?
D)   Are there enough similarities within the market segment to warrant such high costs?
E)   Will this action eliminate the need for individualized advertising and promotion?F) A) and B)
G) A) and C)

Question 4

A market-product grid is a framework to relate the ________ to products offered or potential marketing actions by an organization.

Accepted Answer

A)   market segments of potential buyers
B)   marketing objectives of potential products
C)   total anticipated revenue annually
D)   total anticipated profit annually
E)   market share of the closest competitorF) None of the above
G) A) and E)

Question 5

Variables such as statistical area, the North American Industry Classification System (NAICS)  code, and usage rate are all examples of ways to

Accepted Answer

A)   differentiate products.
B)   forecast sales for a consumer market.
C)   segment an organizational market.
D)   promote protectionism.
E)   calculate a net income.F) A) and E)
G) B) and D)

Question 6

Massage Envy offers massage services on a subscription basis, so it targets consumers that desire to get multiple treatments per month. Massage Envy likely segments its market by

Accepted Answer

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

Question 7

Region and city size are both variables used to employ ________ segmentation.

Accepted Answer

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

Question 8

The Claritas PRIZM lifestyle segmentation is based on the belief that "birds of a feather flock together." It combines ________ with a geographic component.

Accepted Answer

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

Question 9

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) None of the above
G) All of the above

Question 10

Describe the market segmentation process.

Accepted Answer

Market segmentation first stresses the i...

Question 11

Criteria for forming segments involve both similarities and differences. In terms of the needs of buyers, 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) None of the above
G) C) and E)

Question 12

ChoiceShirts is an online company that makes made-to-order T-shirts. Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch. This is an example of

Accepted Answer

A)   family branding.
B)   mass customization.
C)   multiple products and multiple market segments.
D)   one product and multiple market segments.
E)   specialty customization.F) B) and D)
G) B) and C)

Question 13

To be identified as a market segment, members of the group must

Accepted Answer

A)   be similar in terms of their consumption behavior.
B)   represent a large share of the entire market and have buying power.
C)   have diverse needs and have potential for future growth.
D)   have diverse needs and be willing and able to purchase the product.
E)   have the potential for future growth and increased profit or ROI.F) B) and E)
G) C) and E)

Question 14

What is market segmentation and why is it important?

Accepted Answer

People have different needs and wants, e...

Question 15

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

Accepted Answer

A)   functional aggregation.
B)   organizational synergy.
C)   task segmentation.
D)   task amalgamation.
E)   project valuation.F) D) and E)
G) A) and B)

Question 16

All of these are market segmentation strategies except which?

Accepted Answer

A)   build-to-order
B)   multiple products, multiple market segments
C)   one product, multiple market segments
D)   multiple products, one segment
E)   mass customizationF) C) and D)
G) A) and E)

Question 17

Evergreen Air Center in Marana, Arizona, is the world's biggest parking lot for unwanted commercial aircraft. Airlines pay from $750 to $5,000 a month for its storage service. The warm, dry air where the operation is located serves as a cheap and effective airplane preservative. Which segmentation variable might Evergreen use to segment the market?

Accepted Answer

A)   NAICS sector (industry) 
B)   number of locations
C)   who buys, such as individual buyer or buying groups
D)   metropolitan statistical area
E)   number of employeesF) A) and E)
G) B) and C)

Question 18

Which of the following statements regarding segmentation bases is most accurate?

Accepted Answer

A)   The identification of demographic variables is more objective than the identification of psychographic variables, which is more subjective.
B)   Marketers should use segmentation bases in this order to reduce potential costs: behavioral, demographic, psychographic, and geographic.
C)   The use of psychographic variables for segmentation is easiest for most consumer products.
D)   Behavioral segmentation is based primarily on personality.
E)   Geographic segmentation is rarely used today because of the Internet.F) B) and C)
G) A) and D)

Question 19

Wonk is a unique furniture company that design, builds, and retails in Brooklyn, NY. You can customize your design with creative input, including personalizing items with wood and lacquer options or environmentally conscious materials and finishes, though the options are not unlimited. Wonk relies on

Accepted Answer

A)   order customization.
B)   a one product, one market segment strategy.
C)   build-to-order manufacturing.
D)   specialty customization.
E)   mass customization.F) A) and E)
G) A) and B)

Question 20

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 D)
G) B) and D)

Exam 9: Market Segmentation, Targeting, and Positioning

Suppose marketers want to use product differentiation and market segmentation strategies. What question should they ask when considering the potential for cannibalization with these strategies?

Correct Answer
verified

Region and city size are both variables used to employ ________ segmentation.

Correct Answer
verified

Massage Envy offers massage services on a subscription basis, so it targets consumers that desire to get multiple treatments per month. Massage Envy likely segments its market by

Correct Answer
verified

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

Correct Answer
verified

The Claritas PRIZM lifestyle segmentation is based on the belief that "birds of a feather flock together." It combines ________ with a geographic component.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Which of the following statements regarding segmentation bases is most accurate?

Correct Answer
verified

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

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

To be identified as a market segment, members of the group must

Correct Answer
verified

All of these are market segmentation strategies except which?

Correct Answer
verified

ChoiceShirts is an online company that makes made-to-order T-shirts. Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch. This is an example of

Correct Answer
verified

A market-product grid is a framework to relate the ________ to products offered or potential marketing actions by an organization.

Correct Answer
verified

Variables such as statistical area, the North American Industry Classification System (NAICS) code, and usage rate are all examples of ways to

Correct Answer
verified

Criteria for forming segments involve both similarities and differences. In terms of the needs of buyers, the similarities must be a segment, and the differences must be segments.

Correct Answer
verified

Explain what a market-product grid is and how it is used.

Correct Answer
verified
A market-product grid is a framework to ...
View Answer

Describe the market segmentation process.

Correct Answer
verified
Market segmentation first stresses the i...
View Answer

What is market segmentation and why is it important?

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

Exam 9: Market Segmentation, Targeting, and Positioning

Suppose marketers want to use product differentiation and market segmentation strategies. What question should they ask when considering the potential for cannibalization with these strategies?

Correct AnswerverifiedShow Answer

Region and city size are both variables used to employ ________ segmentation.

Correct AnswerverifiedShow Answer

Massage Envy offers massage services on a subscription basis, so it targets consumers that desire to get multiple treatments per month. Massage Envy likely segments its market by

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The Claritas PRIZM lifestyle segmentation is based on the belief that "birds of a feather flock together." It combines ________ with a geographic component.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements regarding segmentation bases is most accurate?

Correct AnswerverifiedShow Answer

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

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

To be identified as a market segment, members of the group must

Correct AnswerverifiedShow Answer

All of these are market segmentation strategies except which?

Correct AnswerverifiedShow Answer

ChoiceShirts is an online company that makes made-to-order T-shirts. Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch. This is an example of

Correct AnswerverifiedShow Answer

A market-product grid is a framework to relate the ________ to products offered or potential marketing actions by an organization.

Correct AnswerverifiedShow Answer

Variables such as statistical area, the North American Industry Classification System (NAICS) code, and usage rate are all examples of ways to

Correct AnswerverifiedShow Answer

Criteria for forming segments involve both similarities and differences. In terms of the needs of buyers, the similarities must be ________ a segment, and the differences must be ________ segments.

Correct AnswerverifiedShow Answer

Explain what a market-product grid is and how it is used.

Correct AnswerverifiedA market-product grid is a framework to ...View AnswerShow Answer

Describe the market segmentation process.

Correct AnswerverifiedMarket segmentation first stresses the i...View AnswerShow Answer

What is market segmentation and why is it important?

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

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Criteria for forming segments involve both similarities and differences. In terms of the needs of buyers, the similarities must be a segment, and the differences must be segments.

Correct Answer
verified

Correct Answer
verified
A market-product grid is a framework to ...
View Answer

Correct Answer
verified
Market segmentation first stresses the i...
View Answer

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

Correct Answer
verified