MRKT 320 Test Ch. 9-12

What is the best situation in the Circles for Successful Value Proposition framework? a.) The firm's offering overlaps customer needs/wants but not with competitor's offerings. b.) The firm's offering overlaps with competitors' benefits but not with customer needs/wants. c.) The firm's benefits overlap with both customer needs/wants and competitors' benefits. d.) Customer needs/wants overlap with both the firm's benefits and competitors' benefits. e.) None of the three circles overlap

a.) The firm's offering overlaps with customer needs/wants but not with competitors' offerings.

Wang wants to sell personal website services to American soldiers in the Middle East. Because of the difficulty of communicating with people in a combat zone, Wang may have trouble with this segment not being a.) reachable b.) identifiable c.) substantial d.) quantifiable e.) perceptive

a.) reachable

Suzanna is concerned that one of the potential market segments she has identified for her mobile veterinary service is too small and has too little income to have sufficient buying power. Suzanna is concerned with whether the segment is a.) reachable b.) substantial c.) identifiable d.) profitable e.) responsive

b.) substantial

Gerardo wants to develop an Internet-based auction business and is working through the STP process. After establishing his objectives, describing potential market segments, and evaluating the attractiveness of each segment, Gerardo now has to a.) differentiate his product line b.) select a target market c.) divide geographic segments into lifestyle groups d.) create a perceptual map e.) consider future customer loyalty

b.) select a target market

A company that sells only herbal iced tea should use a(n) ____________ targeting strategy. a.) mass b.) concentrated c.) undifferentiated d.) micromarketing e.) differentiated

b.) concentrated

Psychographics is the segmentation method that delves into how consumers a.) allocate scarce incomes to a variety of goods and services b.) describe themselves c.) value their livelihoods d.) believe other people see them e.) adjust to demographic changes

b.) describe themselves

Marketers have found that ___________ segmentation is often more useful for predicting consumer behavior than __________ segmentation. a.) geographic; geodemographic b.) psychographic; demographic c.) demographic; benefit d.) demographic; psychographic e.) demographic; behavioral

b.) psychographic; demographic

Geodemographic segmentation can be particularly useful for ____________, because customers typically patronize stores close to their neighborhood. a.) consumer goods manufacturers b.) retailers c.) wholesalers d.) Internet marketers e.) cable TV networks

b.) retailers

____________ is an extreme form of a targeting strategy. a.) Concentrated targeting b.) Benefit marketing c.) Micromarketing d.) Macromarketing e.) Differentiated targeting

c.) Micromarketing

______________ involves defining the firm's marketing mix variables so that customers have a clear, distinctive, desirable understanding of the firm's offerings relative to competitor's offerings. a.) Perceptualizing b.) Processing c.) Positioning d.) Prospecting e.) Proportioning

c.) Positioning

Toothpaste sold in supermarkets and pharmacies promise various results, such as whiter teeth, protection against gum disease, tartar control, or fresh breath. Toothpaste marketers are using ___________ segmentation. a.) demographic b.) psychographic c.) benefit d.) loyalty e.) geodemographic

c.) benefit

Let's Dish is a meal-preparation service operating in three states. Customers visit a Let's Dish store to select and partially prepare their meals, which are then packaged for the freezer. At home, the customer can pull a meal out of the freezer and warm it in the oven or microwave. If Let's Dish wanted to expand into new areas of the United States, what segmentation method would probably be most useful in choosing new locations? a.) demographic segmentation b.) benefit segmentation c.) geodemographic segmentation d.) psychographic segmentation e.) loyalty segmentation

c.) geodemographic segmentation

Automobile manufacturers could build cars specially designed for very short people (for example, under five feet), but it is likely that this segment a.) will not be responsive b.) is not identifiable c.) is not substantial d.) is unreachable e.) is not qualifiable

c.) is not substantial

When Mario complained to his bank about the unprofessional behavior of one teller, the branch manager added a code into his accounts alerting all tellers that Mario was a valued customer and to provide whatever service he requests. The branch management included Mario in its ____________ segmentation. a.) geographic b.) benefit c.) loyalty d.) geodemographic e.) psychographic

c.) loyalty

Which of the following would be used in calculating the profitability of a segment? a.) segment perceptions b.) product positioning c.) segment size d.) demographics e.) geographic segmentation

c.) segment size

"Why create a perceptual map?" asked Don. Andrea, the senior, marketing manager, gave him four reasons. Which of the following are valid reason? a.) "It sets our company up for successful micromarketing in 10 years" b.) "It's a way to show the position of the company throughout the product's life cycle." c.) "It develops an undifferentiated targeting strategy." d.) "We can easily show where we are positioned and how large the market is." e.) " It shows how we should segment our market."

d.) "We can easily show where we are positioned and how large the market it."

Retail store chains often use ____________ data to tailor each store's assortment to the preferences of the local community. a.) loyalty b.) benefit c.) psychographic d.) geodemographic e.) geographic

d.) geodemographic

Edmund has found that both commercial and residential real estate buyers respond positively to his marketing communication message. Edmund has identified _____________ that respond similarly to his marketing efforts. a.) self-concept customers b.) geodemographic segments c.) mass communization consumers d.) market segments e.) geographic segments

d.) market segments

A ____________ is often used to illustrate the position of a firm's products or brands in consumer's minds. a.) Tapestry analysis b.) psychographic profile c.) mass marketing analysis d.) perceptual map e.) loyalty timeline

d.) perceptual map

Thomas wants to position his firm against his competitors. In doing so he should a.) avoid discussing the weaknesses of his competitors, so they won't retaliate b.) avoid discussing the strengths of his product so that competitors won't be aware of his product quality c.) never select a competitor in the same neighborhood d.) avoid making the competitor's product look undesirable e.) avoid looking too much like the competitor so as not to confuse the target segment

e.) avoid looking too much like the competitor so as not to confuse the target segment