Exam 8: Market Segmentation, Targeting, and Positioning

A) stakeholders
B) competitors
C) independent rating organizations such as Consumer Reports
D) consumers
E) the CEO of the firm

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A) relative market share.
B) estimated market size.
C) investment required to reach the market.
D) market growth rate.
E) estimated profit.

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A) lifestyle
B) needs
C) birth era
D) PRIZM
E) personality

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A) would require entry in a global marketplace.
B) requires more than one marketing action.
C) has few competitors that target this same segment.
D) is incompatible with its company's goals or objectives.
E) has a growth potential that would require increasing the current workforce.

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A) different needs of buyers among different segments
B) similarity of needs of potential buyers within a segment
C) simplicity and cost-effectiveness of assigning potential buyers to segments
D) potential for increased profit and ROI
E) potential of a marketing action to reach a segment

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A) Zappos limits its inventory to a selection of high-end fashion footwear.
B) Zappos makes recommendations for purchases based on past ones and even the device being used to shop.
C) Zappos can guarantee overnight shipping to all its customers because they know ahead of time what they will be charged for express service.
D) Zappos is so successful because it has chosen a single mission to "sell shoes and only shoes."
E) Zappos offers a 30/60/90 return policy whereby refunds are based on how long you had the shoes.

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

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A) multiple products with one segment
B) one product with one channel of distribution
C) one product with multiple market segments
D) one product with changes based on customer behavior
E) multiple products with multiple segments

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A) a framework used to compare one firm's product offerings with another firm's offerings in relationship to their relative market share.
B) a framework used to demonstrate the growth or decline of specific market segments within an industry.
C) a means of displaying in two dimensions the location of its own and competing products or brands in the minds of consumers.
D) a framework to relate the market segments of potential buyers to the products offered or potential marketing actions by an organization.
E) the place a product occupies in a single consumer's mind on unimportant attributes relative to competitive product

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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.

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A) identify competitors that provide similar products that satisfy a firm's customers' needs.
B) provide guidance to reposition a firm's products.
C) generate new-product ideas for firms that are not growing in market share.
D) link market needs of customers to the organization's marketing program.
E) correlate directly to each of the five environmental forces.

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The four general bases of segmentation a...

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Organizations may target different produ...

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A) entertainment
B) psychographic
C) geographic
D) usage rate
E) behavioral

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A) the product category in which the offering competes
B) the needs satisfied by the product
C) the offering's unique benefits or attributes
D) the anticipated or actual retail price of the product
E) an identification of the target market

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A key to positioning a product or brand ...

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A) the relatively heterogeneous groups of prospective buyers that result from the market segmentation process.
B) all buyers of a product or service who have previously purchased a particular firm's products or services and who intend to repeat that purchase sometime in the future.
C) the smallest number of buyers that have similar needs but do not react similarly in a buying situation.
D) the relatively homogeneous groups of prospective buyers that result from the market segmentation process.
E) all potential buyers of a product or service who intend to purchase a firm's products or services but who have not yet done so.

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A) 80 percent of a firm's inventory should be readily available while 20 percent should be reserved for emergency demand.
B) 80 percent of a firm's first-time users will become brand loyal while 20 percent will use the product only once and then abandon it.
C) 80 percent of a firm's sales are obtained from 20 percent of its customers.
D) 80 percent of a firm's marketing program expenses are tax deductible while 20 percent are not.
E) 80 percent of a firm's products will be sold to ultimate consumers while 20 percent to organizational buyers.

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