Question 1

Changing the place an offering occupies in a consumer's mind relative to competitive products is referred to as

Accepted Answer

A)  product placement.
B)  perceptual mapping.
C)  product positioning.
D)  product repositioning.
E)  product differentiation.F) C) and D)
G) A) and B)

Question 2

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Accepted Answer

A)  pay attention to marketing messages.
B)  respond similarly to a marketing action.
C)  be responsive to marketing research.
D)  use the same payment methods.
E)  comply with the organization's core values.F) B) and E)
G) None of the above

Question 3

Product positioning refers to

Accepted Answer

A)  an outdated concept that assigns product value by association with social class.
B)  the place a product offering occupies in consumers' minds on important attributes.
C)  the competitive advantage of one product over another.
D)  changing the place a product occupies in a consumer's mind relative to competitive products.
E)  using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets.F) A) and D)
G) C) and D)

Question 4

Explain the 80/20 rule.

Accepted Answer

Usage rate is sometimes referred to in t...

Question 5

Grocery retailer Safeway displays the thousands of items it sells in aisles containing related items or product groupings.Examples would be the pet food aisle or the soft drink aisle.Why would Safeway display and sell product groupings in this manner?

Accepted Answer

A)  The groupings increase the number of market-product combinations on the market-product grid,which makes it a more manageable framework for subsequent analysis.
B)  This form of product groupings makes it easier for customers to get in and out of the store more quickly,creating time utility.
C)  The products are grouped so people can relate to them in a more meaningful way when they shop.
D)  Product groupings can be generated quantitatively to show which adhere to the 80/20 rule.
E)  Suppliers get preferential treatment based upon the number of different UPCs they provide.F) B) and E)
G) A) and C)

Question 6

Region and city size are both variables used to employ ________ segmentation.

Accepted Answer

A)  geographic
B)  behavioral
C)  district
D)  psychographic
E)  demographicF) None of the above
G) A) and E)

Question 7

Which of the following statements regarding when and how to segment markets is most accurate?

Accepted Answer

A)  Even if a firm finds uniform needs across all users,it should take advantage of the method to avoid falling behind its competitors.
B)  Market segmentation is only feasible for large corporations;small businesses don't have the resources to engage in the process.
C)  Governments should not attempt market segmentation because the strategy is only applicable for consumer and organizational markets.
D)  If a business firm goes to the trouble and expense of segmenting its markets,it expects to increase its sales,profits,and return on investment.
E)  Market segmentation strategies work less than 10 percent of the time.F) None of the above
G) A) and B)

Question 8

Small athletic shoe manufacturers such as Vans target niche markets like street culture or action sports enthusiasts,making shoes designed to satisfy the needs of these different specific groups of customers.This strategy is an example of

Accepted Answer

A)  market segmentation.
B)  mass customization.
C)  customized manufacturing.
D)  single chain marketing.
E)  market specific selection.F) A) and E)
G) D) and E)

Question 9

Describe the four general bases that are used to segment consumer markets.

Accepted Answer

The four general bases of segmentation a...

Question 10

Figure 9-11
 
-Which of these is collected from consumers to develop a product's perceptual map?

Accepted Answer

A)  consumer judgments about the important attributes for a product or brand class
B)  a listing of all prospective brands and products
C)  managerial judgments about how consumers perceive products
D)  rank order of the ratings of an existing brand's preference relative to its competitors
E)  detailed explanations of why consumers make the choices they doF) All of the above
G) A) and D)

Question 11

Explain the difference between mass customization and build-to-order.

Accepted Answer

Mass customization involves tailoring go...

Question 12

The ultimate criterion for an organization's marketing success is that ________ as a result of increased synergies.

Accepted Answer

A)  costs decrease
B)  market share increases
C)  product deficiencies decrease
D)  customers should be better off
E)  new products flourishF) C) and E)
G) B) and E)

Question 13

The primary focus of Zappos's market segmentation strategy is to sell

Accepted Answer

A)  shoes and other products to people who will buy them online and like to use mobile technology.
B)  a wide selection of leather shoes and boots to high-end retailers.
C)  all types of shoes,accessories,and clothing to department and fashion discount stores for reasonable prices.
D)  Spanish novelties and accessories to organizations that typically resell them.
E)  shoes in its own retail stores to those who prefer face-to-face interaction.F) B) and E)
G) B) and D)

Question 14

Segmentation based on what product features are important to different customers is a form of

Accepted Answer

A)  demographic segmentation.
B)  behavioral segmentation.
C)  psychographic segmentation.
D)  geographic segmentation.
E)  socioeconomic segmentation.F) None of the above
G) A) and E)

Question 15

_______ links market needs to an organization's marketing program.

Accepted Answer

A)  Market segmentation
B)  Product design
C)  Marketing protocol
D)  Marketing mix development
E)  Product selectionF) B) and E)
G) A) and E)

Question 16

Todd Harris and Associates,a New York sales promotion agency,discovered from an analysis of its files that one-quarter (or 25 percent) of its clients generated more than three-quarters (or 75 percent) of its fees and commissions.This is an example of what classic concept?

Accepted Answer

A)  the two quarter gap
B)  the 80/20 rule
C)  the law of usage
D)  the 75/25 exchange
E)  Paget's LawF) None of the above
G) All of the above

Question 17

Manufacturing a product only when there is an order from a customer is referred to as

Accepted Answer

A)  order customization.
B)  a one product,one market segment strategy.
C)  synergistic marketing.
D)  build-to-order.
E)  specialty customization.F) A) and B)
G) B) and E)

Question 18

Which of the following statements about Zappos is most accurate?

Accepted Answer

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 have had the shoes.F) None of the above
G) D) and E)

Question 19

Building open and honest relationships with communication is an example of one of Zappos's

Accepted Answer

A)  target markets.
B)  best practices being adapted from its new owner,Amazon.com.
C)  ten core values.
D)  supplier requirements.
E)  long-term goals.F) A) and D)
G) A) and E)

Question 20

Which of the following is a basis used to segment U.S.organizational markets?

Accepted Answer

A)  geographic
B)  psychographic
C)  income
D)  prospects
E)  educationF) B) and E)
G) B) and C)

Exam 9: Market Segmentation, targeting, and Positioning

Manufacturing a product only when there is an order from a customer is referred to as

Correct AnswerverifiedShow Answer

Which of the following statements regarding when and how to segment markets is most accurate?

Correct AnswerverifiedShow Answer

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

Correct AnswerverifiedShow Answer

The primary focus of Zappos's market segmentation strategy is to sell

Correct AnswerverifiedShow Answer

The ultimate criterion for an organization's marketing success is that ________ as a result of increased synergies.

Correct AnswerverifiedShow Answer

Explain the 80/20 rule.

Correct AnswerverifiedUsage rate is sometimes referred to in t...View AnswerShow Answer

Todd Harris and Associates,a New York sales promotion agency,discovered from an analysis of its files that one-quarter (or 25 percent) of its clients generated more than three-quarters (or 75 percent) of its fees and commissions.This is an example of what classic concept?

Correct AnswerverifiedShow Answer

Which of the following statements about Zappos is most accurate?

Correct AnswerverifiedShow Answer

Explain the difference between mass customization and build-to-order.

Correct AnswerverifiedMass customization involves tailoring go...View AnswerShow Answer

Small athletic shoe manufacturers such as Vans target niche markets like street culture or action sports enthusiasts,making shoes designed to satisfy the needs of these different specific groups of customers.This strategy is an example of

Correct AnswerverifiedShow Answer

Figure 9-11 -Which of these is collected from consumers to develop a product's perceptual map?

Correct AnswerverifiedShow Answer

Region and city size are both variables used to employ ________ segmentation.

Correct AnswerverifiedShow Answer

Building open and honest relationships with communication is an example of one of Zappos's

Correct AnswerverifiedShow Answer

Grocery retailer Safeway displays the thousands of items it sells in aisles containing related items or product groupings.Examples would be the pet food aisle or the soft drink aisle.Why would Safeway display and sell product groupings in this manner?

Correct AnswerverifiedShow Answer

Changing the place an offering occupies in a consumer's mind relative to competitive products is referred to as

Correct AnswerverifiedShow Answer

Describe the four general bases that are used to segment consumer markets.

Correct AnswerverifiedThe four general bases of segmentation a...View AnswerShow Answer

Which of the following is a basis used to segment U.S.organizational markets?

Correct AnswerverifiedShow Answer

_______ links market needs to an organization's marketing program.

Correct AnswerverifiedShow Answer

Segmentation based on what product features are important to different customers is a form of

Correct AnswerverifiedShow Answer

Product positioning refers to

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Usage rate is sometimes referred to in t...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Mass customization involves tailoring go...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The four general bases of segmentation a...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified