Question 1

Which of the following offers a firm the greatest potential for profit?

Accepted Answer

A)   Mass marketing
B)   The multiple target market approach
C)   The combined target market approach
D)   The single target market approach
E)   Any of these-depending on the situation

Question 2

A digital camera, a computer video-cam, and a computer scanner might compete in the same

Accepted Answer

A)   single target market.
B)   generic market.
C)   multiple target market.
D)   combined target market.
E)   product-market.

Question 3

Unlike a generic market description, a product-market definition includes

Accepted Answer

A)   customer needs.
B)   customer types.
C)   geographic area.
D)   product type.
E)   organization chart.

Question 4

Effective market segmentation is a two-step process that starts with naming broad product-markets and then goes on to segmenting these broad product-markets into more homogeneous submarkets.

Accepted Answer

A) True 
 B)False

Question 5

The marketing management team for Dada Motors brainstormed a variety of solutions to the problem of how to transport people in the world. This process came during the ____ step in the market segmentation process.

Accepted Answer

A)   disaggregating
B)   market definition
C)   segmenting
D)   aggregating
E)   approach selection

Question 6

Sanders Beverages, Inc. is targeting non-juice drinkers with a new line of healthy fruit juices. Identify the segmenting dimension most likely being used by Sanders Beverages.

Accepted Answer

A)   Geographic
B)   Behavioral
C)   Geodemographic
D)   Demographic
E)   Urgency to get need satisfied

Question 7

The disaggregating step in market segmentation involves

Accepted Answer

A)   brainstorming about very different solutions to various generic needs.
B)   looking for similarities in needs.
C)   selecting target markets.
D)   developing suitable marketing mixes.
E)   selecting a target marketing approach.

Question 8

The MOST USEFUL dimensions for segmenting markets are:

Accepted Answer

A)   geographic and demographic dimensions.
B)   brand familiarity and consumption patterns.
C)   social class.
D)   benefits sought.
E)   it depends on what product-market one is segmenting.

Question 9

In a generic market

Accepted Answer

A)   sellers offer various, often diverse, ways of satisfying broadly similar needs.
B)   consumers are offered various close substitute ways of satisfying needs.
C)   everything is the same as in a product-market.
D)   customers have very diverse needs.
E)   sellers produce unbranded products.

Question 10

A _____ is a relatively homogeneous group of customers who will respond to a marketing mix in a similar way.

Accepted Answer

A)   market segment
B)   market grid
C)   consumer network
D)   market network
E)   generic market

Question 11

A marketer will likely need to reposition a product if:

Accepted Answer

A)   very few competitors offer similar products.
B)   customers see the product as distinct from other products in the market.
C)   marketers see the product as distinct from other products in the market.
D)   customers see the product as very similar to other products in the market.
E)   marketers see the product as very similar to other products in the market.

Question 12

A "substantial" market segment is one which is big enough to be profitable.

Accepted Answer

A) True 
 B)False

Question 13

Alpine Auto Repair keeps a record of customer oil changes and sends a reminder postcard to its customers when it's time for the next oil change. This is an example of a ______ system.

Accepted Answer

A)   customer relationship management
B)   qualifying dimensions
C)   a positioning matrix
D)   geographic targeting
E)   clustering

Question 14

Which of the following criteria should a marketing manager use when segmenting a broad product-market?

Accepted Answer

A)   The segments should be operational-i.e., only quantitative dimensions are useful.
B)   The people in different segments should be as heterogeneous as possible with respect to their likely response to marketing mix variables.
C)   The people within a market segment should be as heterogeneous as possible with respect to their likely response to marketing mix variables.
D)   The market segments should be substantial-i.e., big enough to minimize the firm's costs.
E)   All of these criteria would be useful.

Question 15

A "product-market" is a market in which:

Accepted Answer

A)   all sellers offer exactly the same product.
B)   one firm has achieved a competitive advantage.
C)   all sellers offer products that are unique and innovative.
D)   sellers offer very close substitute ways of satisfying potential customers' needs.
E)   sellers offer substitute products which are quite different physically or conceptually.

Question 16

A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.

Accepted Answer

A)   generic market
B)   standard market
C)   target market
D)   global market
E)   product-market

Question 17

According to the text, segmenting should be viewed as a(n)  ______________ process.

Accepted Answer

A)   assorting
B)   mechanical, nonjudgmental
C)   "clustering" or aggregating
D)   "breaking apart" or disaggregating
E)   combining

Question 18

Which of the following is the BEST example of a "generic market?"

Accepted Answer

A)   The adult "personal expression" market
B)   The roller blade market
C)   The female exercise shoes market
D)   The sports drink market
E)   The sporting goods market

Question 19

Customer relationship management (CRM)  data is generally used by firms to:

Accepted Answer

A)   reduce their focus on local customers.
B)   treat all submarkets as a single huge market.
C)   develop a prediction score for each customer.
D)   limit the need for customization.
E)   deliver the same marketing mix to all customer segments.

Question 20

A transistor radio, an MP3 player, and a portable CD player might compete in the same

Accepted Answer

A)   single target market.
B)   multiple target market.
C)   product-market.
D)   combined target market.
E)   generic market.

Exam 4: Focusing Marketing Strategy With Segmentation and Positioning

Effective market segmentation is a two-step process that starts with naming broad product-markets and then goes on to segmenting these broad product-markets into more homogeneous submarkets.

Correct AnswerverifiedShow Answer

Which of the following criteria should a marketing manager use when segmenting a broad product-market?

Correct AnswerverifiedShow Answer

The MOST USEFUL dimensions for segmenting markets are:

Correct AnswerverifiedShow Answer

Sanders Beverages, Inc. is targeting non-juice drinkers with a new line of healthy fruit juices. Identify the segmenting dimension most likely being used by Sanders Beverages.

Correct AnswerverifiedShow Answer

Which of the following offers a firm the greatest potential for profit?

Correct AnswerverifiedShow Answer

A marketer will likely need to reposition a product if:

Correct AnswerverifiedShow Answer

The disaggregating step in market segmentation involves

Correct AnswerverifiedShow Answer

A digital camera, a computer video-cam, and a computer scanner might compete in the same

Correct AnswerverifiedShow Answer

Alpine Auto Repair keeps a record of customer oil changes and sends a reminder postcard to its customers when it's time for the next oil change. This is an example of a ______ system.

Correct AnswerverifiedShow Answer

A "product-market" is a market in which:

Correct AnswerverifiedShow Answer

A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.

Correct AnswerverifiedShow Answer

A "substantial" market segment is one which is big enough to be profitable.

Correct AnswerverifiedShow Answer

According to the text, segmenting should be viewed as a(n) ______________ process.

Correct AnswerverifiedShow Answer

Which of the following is the BEST example of a "generic market?"

Correct AnswerverifiedShow Answer

A _____ is a relatively homogeneous group of customers who will respond to a marketing mix in a similar way.

Correct AnswerverifiedShow Answer

A transistor radio, an MP3 player, and a portable CD player might compete in the same

Correct AnswerverifiedShow Answer

Customer relationship management (CRM) data is generally used by firms to:

Correct AnswerverifiedShow Answer

Unlike a generic market description, a product-market definition includes

Correct AnswerverifiedShow Answer

The marketing management team for Dada Motors brainstormed a variety of solutions to the problem of how to transport people in the world. This process came during the ____ step in the market segmentation process.

Correct AnswerverifiedShow Answer

In a generic market

Correct AnswerverifiedShow Answer

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