Question 1

If your assignment was to create a value proposition and product-price positioning strategy for each segment, based on the segment's unique customer needs and characteristics, you would be in which of the following steps of the segmentation process?

Accepted Answer

A)   needs-based segmentation
B)   segment identification
C)   segment attractiveness
D)   segment positioning
E)   segment "acid-test"

Question 2

A segment is unattractive if the company's suppliers are able to raise prices or reduce quantity supplied.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following best represents the chief advantage of pursuing a strategy of multiple segment specialization?

Accepted Answer

A)   It makes the company almost bulletproof to competitors' actions.
B)   It diversifies the firm's risk.
C)   It creates synergy between markets.
D)   It is a low-cost strategy.
E)   It treats all buyers the same and, therefore, lowers promotion costs.

Question 4

Briefly describe product specialization and market specialization.

Accepted Answer

With product specialization, the firm se...

Question 5

A local service company has decided to segment its market based on occupation; therefore, it has chosen a form of demographic segmentation for its approach.

Accepted Answer

A) True 
 B)False  True

Question 6

In evaluating different market segments, the firm must look at two factors: the segment's overall attractiveness and the ________.

Accepted Answer

A)   company's objectives and resources
B)   effectiveness of the suppliers
C)   flexibility of legal rules governing the business
D)   socio-economic infrastructure
E)   global nature of the product

Question 7

To be useful, a market segment should be ________, which means the largest possible homogeneous group worth going after with a tailored marketing program.

Accepted Answer

A)   measurable
B)   substantial
C)   accessible
D)   differentiable
E)   actionable B

Question 8

Identify the four market segment groups based on brand loyalty status, and list what a company can learn from analyzing the degrees of brand loyalty.

Accepted Answer

Marketers usually envision four groups b...

Question 9

A flexible market offering consists of two parts. Identify and describe these two parts.

Accepted Answer

A flexible market offering consists of t...

Question 10

Explain the concept of mass marketing.

Accepted Answer

In mass marketing, the firm ignores segm...

Question 11

List the threats posed by the five forces identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment.

Accepted Answer

The threats posed by the five forces are...

Question 12

The ultimate level of segmentation leads to "segments of one," "customized marketing," or "one-to-one marketing."

Accepted Answer

A) True 
 B)False

Question 13

Hard-core loyals can show the firm which brands are most competitive with its own.

Accepted Answer

A) True 
 B)False  False

Question 14

Newlyweds in the United States buy more in the first six months than an established household does in five years. Newlyweds are an example of a(n)  ________ segment.

Accepted Answer

A)   life stage
B)   age
C)   behavior
D)   user status
E)   income

Question 15

The process of selecting one or more market segments to enter is called market ________.

Accepted Answer

A)   targeting
B)   dominance
C)   positioning
D)   segmentation
E)   research

Question 16

During which step of the needs-based segmentation process would the marketer group customers into segments based on similar needs and benefits sought by the customer in solving a particular consumption problem?

Accepted Answer

A)   Step 2-segment identification
B)   Step 3-segment attractiveness
C)   Step 6-segment "acid test"
D)   Step 1-needs-based segmentation
E)   Step 7-marketing-mix strategy

Question 17

Door-to-door workers in a political campaign use attitude to determine how much time to spend with each voter.

Accepted Answer

A) True 
 B)False

Question 18

When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes, equipment, and clothing to many of them, Nike is using which of the following marketing formats?

Accepted Answer

A)   differentiated marketing
B)   affiliate marketing
C)   guerrilla marketing
D)   affinity marketing
E)   grassroots marketing

Question 19

Which of the following statements about market segmentation is True?

Accepted Answer

A)   It involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market.
B)   It is a process of evaluating each segment's attractiveness and selecting one or more to enter.
C)   It is a process of creating an image or identity of the product in the minds of the target market.
D)   It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants.
E)   It is the quality of how marketers go to market with the goal of optimizing their spending to achieve good results.

Question 20

All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs, a strong market presence, operating economies through specializing in production, distribution, and promotion.

Accepted Answer

A)   single-segment concentration
B)   selective specialization
C)   product specialization
D)   market specialization
E)   full market coverage

Exam 6: Identifying Market Segments and Targets

If your assignment was to create a value proposition and product-price positioning strategy for each segment, based on the segment's unique customer needs and characteristics, you would be in which of the following steps of the segmentation process?

Correct AnswerverifiedShow Answer

A segment is unattractive if the company's suppliers are able to raise prices or reduce quantity supplied.

Correct AnswerverifiedShow Answer

Which of the following best represents the chief advantage of pursuing a strategy of multiple segment specialization?

Correct AnswerverifiedShow Answer

Briefly describe product specialization and market specialization.

Correct AnswerverifiedWith product specialization, the firm se...View AnswerShow Answer

A local service company has decided to segment its market based on occupation; therefore, it has chosen a form of demographic segmentation for its approach.

Correct AnswerverifiedTrue

In evaluating different market segments, the firm must look at two factors: the segment's overall attractiveness and the ________.

Correct AnswerverifiedShow Answer

To be useful, a market segment should be ________, which means the largest possible homogeneous group worth going after with a tailored marketing program.

Correct AnswerverifiedB

Identify the four market segment groups based on brand loyalty status, and list what a company can learn from analyzing the degrees of brand loyalty.

Correct AnswerverifiedMarketers usually envision four groups b...View AnswerShow Answer

A flexible market offering consists of two parts. Identify and describe these two parts.

Correct AnswerverifiedA flexible market offering consists of t...View AnswerShow Answer

Explain the concept of mass marketing.

Correct AnswerverifiedIn mass marketing, the firm ignores segm...View AnswerShow Answer

List the threats posed by the five forces identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment.

Correct AnswerverifiedThe threats posed by the five forces are...View AnswerShow Answer

The ultimate level of segmentation leads to "segments of one," "customized marketing," or "one-to-one marketing."

Correct AnswerverifiedShow Answer

Hard-core loyals can show the firm which brands are most competitive with its own.

Correct AnswerverifiedFalse

Newlyweds in the United States buy more in the first six months than an established household does in five years. Newlyweds are an example of a(n) ________ segment.

Correct AnswerverifiedShow Answer

The process of selecting one or more market segments to enter is called market ________.

Correct AnswerverifiedShow Answer

During which step of the needs-based segmentation process would the marketer group customers into segments based on similar needs and benefits sought by the customer in solving a particular consumption problem?

Correct AnswerverifiedShow Answer

Door-to-door workers in a political campaign use attitude to determine how much time to spend with each voter.

Correct AnswerverifiedShow Answer

When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes, equipment, and clothing to many of them, Nike is using which of the following marketing formats?

Correct AnswerverifiedShow Answer

Which of the following statements about market segmentation is True?

Correct AnswerverifiedShow Answer

All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs, a strong market presence, operating economies through specializing in production, distribution, and promotion.

Correct AnswerverifiedShow Answer

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With product specialization, the firm se...
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True

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B

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Marketers usually envision four groups b...
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A flexible market offering consists of t...
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In mass marketing, the firm ignores segm...
View Answer

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The threats posed by the five forces are...
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False

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