Question 1

After segmentation, the customer group selected by a firm is referred to as the target market.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following most accurately describes PRIZM?

Accepted Answer

A)   a method of removing heterogeneous variables from a target market
B)   a method of data mining used to implement market development strategies
C)   a database that classifies the U.S. population into segments based on geographic information, socioeconomic data and lifestyle attributes
D)   a database that classifies the international population into segments based on demographic and geographic characteristics
E)   a positioning strategy used in the introduction of new consumer products

Question 3

Which of the following would LEAST likely be included in a product's positioning statement?

Accepted Answer

A)   the product's strongest competitors
B)   the segment(s)  to which the product is targeted
C)   the product's most important differentiator
D)   evidence supporting the most important claim made about the product
E)   the specific value of the product

Question 4

What is market fragmentation? Why is market fragmentation of concern to marketers?

Accepted Answer

Market fragmentation refers to how moder...

Question 5

How has the education and income gap between husbands and wives changed?

Accepted Answer

A growing number of women earn more mone...

Question 6

How might a marketer benefit most from using PRIZM?

Accepted Answer

People and locations can be se...

Question 7

An undifferentiated marketing strategy is most likely to be successful in which of the following scenarios?

Accepted Answer

A)   The market has many competitors.
B)   The product or service has wide appeal.
C)   Growth of the market has stabilized.
D)   The market is slowly shrinking.
E)   The market has a few strong competitors.

Question 8

Which of the listed choices is NOT a positioning task?

Accepted Answer

A)   identifying a set of possible competitive advantages
B)   surveying frequent uses of the product
C)   analyzing competitors' positions
D)   finalizing the marketing mix
E)   evaluating responses to the marketing mix

Question 9

In developing a new shoe, Reebok targeted the youth market. It used ________ segmentation to define its target market.

Accepted Answer

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

Question 10

Competitive advantage can be created by offering a lower price for a product that is similar to the competition's product.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is the best example of the long tail approach to selling?

Accepted Answer

A)   Nearly 20 percent of the videos delivered by Netflix are older or obscure titles from its vast collection of videos.
B)   Kraft Foods focuses on the 20 percent of U.S. households that purchase 80 percent of the Miracle Whip the company markets.
C)   Barnes & Noble stocks the most popular books and magazines in its retail stores.
D)   Google lets advertisers target certain ads to certain segments of search engine users.
E)   Staples segments its business-to-business markets based on sales volume.

Question 12

Which of the following marketing strategies are most similar to one other?

Accepted Answer

A)   customized marketing and differentiated targeting
B)   mass customization and micromarketing
C)   undifferentiated targeting and concentrated targeting
D)   concentrated targeting and customized marketing
E)   differentiated targeting and micromarketing

Question 13

Which of the following best defines demographics?

Accepted Answer

A)   statistics that can be used to segment populations on the basis of what people do with a product
B)   statistics that can be used to segment populations on the basis of when people use a product
C)   qualitative data that can be used to explain why seemingly homogeneous consumer groups do not share core characteristics
D)   statistics that can be used to segment populations on the basis of shared attitudes, opinions, and interests
E)   statistics that measure observable aspects of a population

Question 14

Hispanic Americans are the fastest-growing minority group in the United States.

Accepted Answer

A) True 
 B)False

Question 15

A target market is not viable unless the segment is large enough to be profitable now and in the future.

Accepted Answer

A) True 
 B)False

Question 16

Households making $100,000 or more represent only 20 percent of U.S. households but control more than half of all income earned in the United States.

Accepted Answer

A) True 
 B)False

Question 17

A large chain amusement park sells tickets at its main gate for guests who are visiting the park for just that one day. The park also sells seasonal passes that can only be used on weekdays. What market segmentation is being implemented by the amusement park?

Accepted Answer

The amusement park is using be...

Question 18

Which of the following best describes the market segment referred to as the bottom of the pyramid (BOP) ?

Accepted Answer

A)   a national segment of lower income consumers
B)   a national segment of non-native language speakers
C)   a national segment of individuals with a high-school only education
D)   a global segment of consumers who earn less than $2 per day
E)   a global segment of children in lower income families

Question 19

A perceptual map is used to ________.

Accepted Answer

A)   compare and contrast consumer psychographic segments
B)   create consumer cross-tabulations for marketing research
C)   locate consumers within a geographic information system
D)   determine how consumers position products in relation to one another
E)   identify the critical stage of the targeting process for the marketer

Question 20

Hispanic Americans tend to be brand loyal, especially to products made in their country of origin.

Accepted Answer

A) True 
 B)False

Exam 7: Segmentation, Target Marketing, and Positioning

In developing a new shoe, Reebok targeted the youth market. It used ________ segmentation to define its target market.

Correct AnswerverifiedShow Answer

Which of the following most accurately describes PRIZM?

Correct AnswerverifiedShow Answer

After segmentation, the customer group selected by a firm is referred to as the target market.

Correct AnswerverifiedShow Answer

How has the education and income gap between husbands and wives changed?

Correct AnswerverifiedA growing number of women earn more mone...View AnswerShow Answer

Which of the following would LEAST likely be included in a product's positioning statement?

Correct AnswerverifiedShow Answer

Hispanic Americans tend to be brand loyal, especially to products made in their country of origin.

Correct AnswerverifiedShow Answer

Hispanic Americans are the fastest-growing minority group in the United States.

Correct AnswerverifiedShow Answer

What is market fragmentation? Why is market fragmentation of concern to marketers?

Correct AnswerverifiedMarket fragmentation refers to how moder...View AnswerShow Answer

Which of the following marketing strategies are most similar to one other?

Correct AnswerverifiedShow Answer

A target market is not viable unless the segment is large enough to be profitable now and in the future.

Correct AnswerverifiedShow Answer

Which of the following best defines demographics?

Correct AnswerverifiedShow Answer

A perceptual map is used to ________.

Correct AnswerverifiedShow Answer

Competitive advantage can be created by offering a lower price for a product that is similar to the competition's product.

Correct AnswerverifiedShow Answer

An undifferentiated marketing strategy is most likely to be successful in which of the following scenarios?

Correct AnswerverifiedShow Answer

Which of the following best describes the market segment referred to as the bottom of the pyramid (BOP) ?

Correct AnswerverifiedShow Answer

Which of the following is the best example of the long tail approach to selling?

Correct AnswerverifiedShow Answer

Which of the listed choices is NOT a positioning task?

Correct AnswerverifiedShow Answer

How might a marketer benefit most from using PRIZM?

Correct AnswerverifiedPeople and locations can be se...View AnswerShow Answer

A large chain amusement park sells tickets at its main gate for guests who are visiting the park for just that one day. The park also sells seasonal passes that can only be used on weekdays. What market segmentation is being implemented by the amusement park?

Correct AnswerverifiedThe amusement park is using be...View AnswerShow Answer

Households making $100,000 or more represent only 20 percent of U.S. households but control more than half of all income earned in the United States.

Correct AnswerverifiedShow Answer

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A growing number of women earn more mone...
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Market fragmentation refers to how moder...
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People and locations can be se...
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The amusement park is using be...
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Correct Answer
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