Question 1

What type of targeting strategy works with uniform products for which the firm can develop a single marketing mix that satisfies the needs of all customers?

Accepted Answer

A)  a concentrated marketing strategy
B)  a niche marketing strategy
C)  a geographic targeting strategy
D)  an undifferentiated targeting strategy
E)  a differentiated targeting strategy

Question 2

_________ assumes that consumers compare goods and services on the basis of benefits.

Accepted Answer

The answer of _________ assumes that consumers compare goods and...

Question 3

What are the three basic strategies for targeting markets?

Accepted Answer

A)  print advertising, sales promotion, and public relations
B)  undifferentiated targeting, differentiated targeting, and niche marketing
C)  primary targeting, secondary targeting, and specialized marketing
D)  targeting by product, targeting by price, and targeting by customer
E)  demographic targeting, geographic targeting, and psychographic targeting

Question 4

Firms should consider three important factors during the targeting process: growth potential, level of competition and market share.

Accepted Answer

A) True 
 B)False

Question 5

The process of dividing a larger market into smaller groups based on meaningfully shared characteristics is called positioning.

Accepted Answer

A) True 
 B)False

Question 6

Considered to be one of the most important sources of demographic information for marketers, ________ provides free information on data such as how households are segmented by race, education, age, and occupation?

Accepted Answer

A)  the Social Security Administration
B)  the ACNielsen Company
C)  the U.S. Census Bureau
D)  Consumer Reports
E)  the U.S. Bureau of Labor Statistics

Question 7

Behavioral segmentation divides consumers according to

Accepted Answer

A)  customer convenience and market size.
B)  consumers' opinion and interests.
C)  the various lifestyles of the consumer.
D)  how motivated and how many resources a consumer has.
E)  how consumers behave with or act towards products.

Question 8

Regarding positioning a product, when is competitive analysis most important?

Accepted Answer

A)  when a product is unique compared to what other firms are offering
B)  when competitors all appear to offer lower priced options
C)  when selecting a target market for a product
D)  when competitors all appear to offer a similar good or service
E)  when determining how to segment the market

Question 9

If a market segment is _________, a firm should be reasonably certain that its marketing mix can inform consumers about the product, how it adds value to the consumer, and ultimately how to purchase it.

Accepted Answer

The answer of If a market segment is _________, a...

Question 10

Marketers target older Americans because

Accepted Answer

A)  they tend to be more educated than other consumers.
B)  they tend to have more time and money than younger consumers.
C)  there are more products available to that age group.
D)  they tend to pay more attention to advertisements than other consumers.
E)  they purchase products not only for themselves, but also for their family members.

Question 11

When it comes to criteria for segmenting markets, it is important that the size and purchasing power of a market segment should be clearly identified. In other words, it should be

Accepted Answer

A)  differentiable.
B)  measurable.
C)  accessible.
D)  identifiable.
E)  actionable.

Question 12

Chobani, makers of specialty yogurts, has expanded its product line to include "Gimmies," a specialty yogurt supported by a set of characters that are designed to appeal to children. For this product, Chobani is segmenting the market based on

Accepted Answer

A)  customer convenience.
B)  lifestyle.
C)  age.
D)  gender.
E)  motivation.

Question 13

Which of the following is a behavioral segmentation variable?

Accepted Answer

A)  how often a product is used by the target market
B)  how easy it is for the target market to obtain the product
C)  the area in which the target market lives
D)  how much money the target market makes
E)  the types of activities the target market engages in

Question 14

As it pertains to international segmentation, unique segmentation is used when

Accepted Answer

A)  the similarity in needs and wants exists within one country.
B)  a product offering has market appeal only in English-speaking regions.
C)  a product offering has market appeal in several countries.
D)  the similarity in needs and wants only extends across the region or several countries.
E)  a firm can identify a group of consumers with common needs and wants that spans the entire globe.

Question 15

What type of business-to-business segmentation allows B₂B marketers to segment based on purchasing patterns, supplier requirements, and technological orientation?

Accepted Answer

A)  geographic
B)  behavioral
C)  psychographic
D)  demographic
E)  lifestyle

Question 16

Ace Tutors is a business that tutors high-school students who are preparing to take the SAT test as part of their college entrance requirements. Because it possesses a unique offering that is desirable to a specific market, Ace Tutors would most likely use what type of target market strategy?

Accepted Answer

A)  undifferentiated targeting
B)  lifestyle marketing
C)  differentiated targeting
D)  mass marketing
E)  niche marketing

Question 17

Walmart has positioned itself as providing a variety of items to shoppers at prices lower than most retail stores. Walmart has positioned itself based on

Accepted Answer

A)  attributes.
B)  product knowledge.
C)  application.
D)  price/quality relationship.
E)  personalized sales support.

Question 18

To be effective, market segmentation should create market segments that rate favorably on various criteria. Specifically, market segmentation should create market segments that are measurable, differentiable, accessible, actionable, and

Accepted Answer

A)  specific.
B)  variable.
C)  isolated.
D)  marketable.
E)  substantial.

Question 19

Psychographic segmentation refers to the science of segmenting markets based on

Accepted Answer

A)  consumers' income, age and behavior.
B)  psychology, demographics and personality traits.
C)  consumers' opinions, interests and attitudes.
D)  behavior and demographics.
E)  psychology and geography.

Question 20

A succinct description of the core target market to which a product is directed and a compelling picture of how the firm wants that core market to view the product is referred to as a ________ statement.

Accepted Answer

The answer of A succinct description of the core target...

Exam 7: Segmentation, Targeting, and Positioning

What are the three basic strategies for targeting markets?

Correct AnswerverifiedShow Answer

As it pertains to international segmentation, unique segmentation is used when

Correct AnswerverifiedShow Answer

Firms should consider three important factors during the targeting process: growth potential, level of competition and market share.

Correct AnswerverifiedShow Answer

Regarding positioning a product, when is competitive analysis most important?

Correct AnswerverifiedShow Answer

What type of targeting strategy works with uniform products for which the firm can develop a single marketing mix that satisfies the needs of all customers?

Correct AnswerverifiedShow Answer

Psychographic segmentation refers to the science of segmenting markets based on

Correct AnswerverifiedShow Answer

To be effective, market segmentation should create market segments that rate favorably on various criteria. Specifically, market segmentation should create market segments that are measurable, differentiable, accessible, actionable, and

Correct AnswerverifiedShow Answer

Ace Tutors is a business that tutors high-school students who are preparing to take the SAT test as part of their college entrance requirements. Because it possesses a unique offering that is desirable to a specific market, Ace Tutors would most likely use what type of target market strategy?

Correct AnswerverifiedShow Answer

Marketers target older Americans because

Correct AnswerverifiedShow Answer

Walmart has positioned itself as providing a variety of items to shoppers at prices lower than most retail stores. Walmart has positioned itself based on

Correct AnswerverifiedShow Answer

_________ assumes that consumers compare goods and services on the basis of benefits.

Correct AnswerverifiedShow Answer

When it comes to criteria for segmenting markets, it is important that the size and purchasing power of a market segment should be clearly identified. In other words, it should be

Correct AnswerverifiedShow Answer

A succinct description of the core target market to which a product is directed and a compelling picture of how the firm wants that core market to view the product is referred to as a ________ statement.

Correct AnswerverifiedShow Answer

Which of the following is a behavioral segmentation variable?

Correct AnswerverifiedShow Answer

If a market segment is _________, a firm should be reasonably certain that its marketing mix can inform consumers about the product, how it adds value to the consumer, and ultimately how to purchase it.

Correct AnswerverifiedShow Answer

Considered to be one of the most important sources of demographic information for marketers, ________ provides free information on data such as how households are segmented by race, education, age, and occupation?

Correct AnswerverifiedShow Answer

Chobani, makers of specialty yogurts, has expanded its product line to include "Gimmies," a specialty yogurt supported by a set of characters that are designed to appeal to children. For this product, Chobani is segmenting the market based on

Correct AnswerverifiedShow Answer

What type of business-to-business segmentation allows B₂B marketers to segment based on purchasing patterns, supplier requirements, and technological orientation?

Correct AnswerverifiedShow Answer

Behavioral segmentation divides consumers according to

Correct AnswerverifiedShow Answer

The process of dividing a larger market into smaller groups based on meaningfully shared characteristics is called positioning.

Correct AnswerverifiedShow Answer

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