Question 1

Once a(n)  ________ is defined, the next step in positioning is for marketers to finalize the marketing mix.

Accepted Answer

A)   segmentation variable
B)   competitive advantage
C)   indirect competitor
D)   direct competitor
E)   concentrated target

Question 2

Which of the following is NOT part of a target marketing strategy?

Accepted Answer

A)   dividing the market into segments based on customer characteristics
B)   identifying a market that is likely to buy a product
C)   selecting one or more segments as target markets
D)   developing a product to meet the needs of a specific market segment
E)   positioning a product

Question 3

Because children have little influence over family purchases beyond toys and games, marketers tend to not focus on consumers under the age of 12.

Accepted Answer

A) True 
 B)False

Question 4

The cosmetics giant L'Oreal offers several product lines at a variety of prices. It targets the luxury market with its brand Helena Rubinstein, while less expensive offerings such as Elseve are targeted to large department stores and discounters. What type of targeting strategy is this? Explain your answer.

Accepted Answer

This company is implementing a...

Question 5

In comparison to trailing-edge boomers, leading-edge boomers spend a higher proportion of their income on non-discretionary items.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following would be the best source for information about the size and number of companies operating in a particular industry in the United States?

Accepted Answer

A)   PRIZM
B)   AIO
C)   VALS™
D)   NAICS
E)   ROMI D

Question 7

BMW allows customers to design their own vehicles from a set of options at BMW's website. What is this called?

Accepted Answer

This is ma...

Question 8

Content marketing is designed to establish thought leadership and to appear like the kind of content created by individuals or media organizations, rather than by advertisers.

Accepted Answer

A) True 
 B)False

Question 9

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 10

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

Accepted Answer

Market fragmentation refers to how modern society is divided into groups with diverse interests and diverse backgrounds. Each group has distinctive wants and needs. Because of this diversity, the same good or service will not appeal to everyone. Marketers must understand a group's distinctive wants and needs in order to meet the needs of the group with a product or service.

Question 11

A company that uses a(n)  ________ targeting strategy is appealing to a broad spectrum of people.

Accepted Answer

A)   fragmented
B)   undifferentiated
C)   concentrated
D)   differentiated
E)   customized

Question 12

Explain how a marketer determines whether an identified market segment is viable.

Accepted Answer

A viable target segment should satisfy s...

Question 13

Which of the following best explains why marketers do not consider social class segments as strictly as they once did?

Accepted Answer

A)   Many consumers buy according to the social class image they wish to portray rather than according to where they actually fall in the social class framework.
B)   Due to the Great Recession, members of the upper class have become members of the middle class, and members of the middle class have become members of the lower class.
C)   Data related to social class are more complicated and difficult to obtain and analyze than they once were.
D)   Social class in the United States is more related to education and family history than to wealth.
E)   Members of the upper and middle classes are unlikely to be attracted to any products marketed toward members of the lower classes.

Question 14

The elements of the marketing mix must match the ________.

Accepted Answer

A)   competitive advantage
B)   perceptual map
C)   selected segment
D)   indirect competition
E)   direct competition

Question 15

Honor, a market researcher for a packaged goods company, is segmenting a population of consumers based on how frequently they buy different types of packaged goods. Honor is using behavioral segmentation.

Accepted Answer

A) True 
 B)False  True

Question 16

According to the 80/20 rule, which of the following is true?

Accepted Answer

A)   80 percent of a product's customers account for 20 percent of the product's marketing expenditures.
B)   20 percent of a product's customers account for 80 percent of the product's marketing expenditures.
C)   80 percent of a product's sales come from 20 percent of the product's purchasers.
D)   80 percent of a product's marketing cost should be equal to 20 percent of the firm's total marketing budget.
E)   80 percent of a product's market should be consumers who are 20 or older.

Question 17

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 18

Gamification refers to market segmentation using video gaming as a lifestyle.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is the process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics?

Accepted Answer

A)   acculturation
B)   segmentation
C)   market fragmentation
D)   targeting
E)   positioning

Question 20

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

Exam 7: Segmentation, Target Marketing, and Positioning

Once a(n) ________ is defined, the next step in positioning is for marketers to finalize the marketing mix.

Correct Answer
verified

Which of the following is NOT part of a target marketing strategy?

Correct Answer
verified

Because children have little influence over family purchases beyond toys and games, marketers tend to not focus on consumers under the age of 12.

Correct Answer
verified

Correct Answer
verified
This company is implementing a...
View Answer

In comparison to trailing-edge boomers, leading-edge boomers spend a higher proportion of their income on non-discretionary items.

Correct Answer
verified

Which of the following would be the best source for information about the size and number of companies operating in a particular industry in the United States?

Correct Answer
verified
D

BMW allows customers to design their own vehicles from a set of options at BMW's website. What is this called?

Correct Answer
verified
This is ma...
View Answer

Content marketing is designed to establish thought leadership and to appear like the kind of content created by individuals or media organizations, rather than by advertisers.

Correct Answer
verified

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

Correct Answer
verified

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

A company that uses a(n) ________ targeting strategy is appealing to a broad spectrum of people.

Correct Answer
verified

Explain how a marketer determines whether an identified market segment is viable.

Correct Answer
verified
A viable target segment should satisfy s...
View Answer

Which of the following best explains why marketers do not consider social class segments as strictly as they once did?

Correct Answer
verified

The elements of the marketing mix must match the ________.

Correct Answer
verified

Honor, a market researcher for a packaged goods company, is segmenting a population of consumers based on how frequently they buy different types of packaged goods. Honor is using behavioral segmentation.

Correct Answer
verified
True

According to the 80/20 rule, which of the following is true?

Correct Answer
verified

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

Correct Answer
verified

Gamification refers to market segmentation using video gaming as a lifestyle.

Correct Answer
verified

Which of the following is the process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics?

Correct Answer
verified

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

Correct Answer
verified

Exam 7: Segmentation, Target Marketing, and Positioning

Once a(n) ________ is defined, the next step in positioning is for marketers to finalize the marketing mix.

Correct AnswerverifiedShow Answer

Which of the following is NOT part of a target marketing strategy?

Correct AnswerverifiedShow Answer

Because children have little influence over family purchases beyond toys and games, marketers tend to not focus on consumers under the age of 12.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedThis company is implementing a...View AnswerShow Answer

In comparison to trailing-edge boomers, leading-edge boomers spend a higher proportion of their income on non-discretionary items.

Correct AnswerverifiedShow Answer

Which of the following would be the best source for information about the size and number of companies operating in a particular industry in the United States?

Correct AnswerverifiedD

BMW allows customers to design their own vehicles from a set of options at BMW's website. What is this called?

Correct AnswerverifiedThis is ma...View AnswerShow Answer

Content marketing is designed to establish thought leadership and to appear like the kind of content created by individuals or media organizations, rather than by advertisers.

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

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

A company that uses a(n) ________ targeting strategy is appealing to a broad spectrum of people.

Correct AnswerverifiedShow Answer

Explain how a marketer determines whether an identified market segment is viable.

Correct AnswerverifiedA viable target segment should satisfy s...View AnswerShow Answer

Which of the following best explains why marketers do not consider social class segments as strictly as they once did?

Correct AnswerverifiedShow Answer

The elements of the marketing mix must match the ________.

Correct AnswerverifiedShow Answer

Honor, a market researcher for a packaged goods company, is segmenting a population of consumers based on how frequently they buy different types of packaged goods. Honor is using behavioral segmentation.

Correct AnswerverifiedTrue

According to the 80/20 rule, which of the following is true?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Gamification refers to market segmentation using video gaming as a lifestyle.

Correct AnswerverifiedShow Answer

Which of the following is the process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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This company is implementing a...
View Answer

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D

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This is ma...
View Answer

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A viable target segment should satisfy s...
View Answer

Correct Answer
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Correct Answer
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True

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Correct Answer
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Correct Answer
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