Ch. 7 Quiz Questions - TEST 1

Through​ ________ differentiation, brands can be differentiated on​ features, performance, or style and design. A. product B. people C. price D. services E. channel

A

What are perceptual positioning maps used​ for? A. To show consumer perceptions of different brands on important product dimensions B. To compare a​ company's profitability with the profitability of competitors C. To show consumer perceptions of an individual brand on important buying dimensions D. To show consumer perceptions of different brands on a single product dimension E. To find the best retail locations for a brand

A

What is the overall purpose of​ differentiation? A. To create superior customer value B. To divide the market into smaller groups of buyers C. To select the segment or segments to enter D. To allow a firm to offer the lowest prices E. To market high quality products

A

Which of the following is true about behavioral segmentation on the basis of the loyalty​ variable? A. By looking at customers who are shifting away from its​ brand, a company can learn about its marketing weaknesses and take actions to correct them. B. Only consumers who seek premium or luxury services are subjected to behavioral segmentation based on the loyalty variable. C. Consumers tend to pay more for products that are targeted at their respective age group or generation. D. Highly loyal customers of a brand are less likely to engage in​ word-of-mouth publicity than those who are not. E. Completely loyal customers of a brand are typically loyal to two or three brands of a given product.

A

Which of the following statements about segmentation is​ true? A. Different segments might require different marketing strategies or mixes. B. Segmentation identifies individual buyers that can be targeted with a market offering. C. Most companies today mass market and do not segment their markets. D. Market segmentation is part of a​ company's value proposition. E. Buyers within a market segment have different​ needs, characteristics, and behaviors.

A

Which of the following statements regarding concentrated marketing is​ correct? A. Concentrated marketing involves​ higher-than-normal risks. B. Marketers cannot effectively​ fine-tune the marketing mix to the needs of a​ narrow, carefully designed segment. C. Concentrated marketing is generally not a profitable strategy. D. Concentrated marketing is not feasible for small companies. E. Concentrated marketing targets a small share of a large market.

A

Which of the following statements regarding positioning is​ correct? A. Positions must adapt over time to meet changing consumer needs. B. Once a positioning strategy is​ identified, it is typically very easy to implement. C. Establishing a position usually takes a very short amount of time. D. Once​ established, a strong position is never lost. E. Abruptly changing a position is an effective strategy when consumer needs change.

A

Which targeting strategy focuses on common consumer​ needs, as opposed to different​ needs? A. Mass marketing B. Concentrated marketing C. Local marketing D. Differentiated marketing E. Individual marketing

A

Tropicana promotes drinking orange juice at any time of day as a​ cool, refreshing drink. The market segmentation approach Tropicana is using is​ ________. A. gender segmentation B. occasion segmentation C. behavioral segmentation D. age and​ life-cycle segmentation E. benefit segmentation

B

A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your​ colleague? A. Fast growing segments are always attractive. B. A segment is attractive if there are substitute products available. C. Carefully consider the degree of competition and ease of entry into the segment. D. If a segment is larger than others it should always be targeted. E. If there are powerful buyers in the segment it will drive prices up.

C

Companies know they cannot appeal to all buyers in the​ marketplace, or at least not in the same way. Reasons for this include all of the following EXCEPT​ ________. A. companies vary widely in their abilities to serve different market segments B. buyers are too numerous C. companies need more information to offer the right products to the right customers D. buyers are widely scattered E. buyers are varied in their needs and buying practices

C

The full mix of benefits on which a brand is differentiated and positioned is called​ a(n) __________. A. perceptual map B. image statement C. value proposition D. mission statement E. positioning statement

C

When marketers at Fair​ & Leigh Inc. selected the​ Millennials, a demographic group that includes many college​ students, as an untapped group of potential customers for their new line of​ products, they were engaging in​ ________. A. occasion segmenting B. local marketing C. market targeting D. product positioning E. market diversification

C

Which of the following descriptions best represents targeting a demographic​ segment? A. Rewarding heavy users of a product B. Promoting a smartphone with longer battery life C. Marketing prepackaged lunches for children D. Marketing athletic clothing for sports enthusiasts E. Promoting cranberry sauce for the Thanksgiving holiday

C

Which of the following refers to a cultural factor in the context of segmenting international​ markets? A. receptivity of foreign firms B. population income levels C. values and attitudes D. stability of the government E. economic development of the country

C

Delta Motorworks markets its cars based on the​ age, gender, and income of its customers. Which of the following types of market segmentation is evident​ here? A. benefit segmentation B. psychographic segmentation C. geographic segmentation D. demographic segmentation E. occasion segmentation

D

The process of evaluating each market​ segment's attractiveness and selecting one or more market segments to enter is called​ __________. A. a​ customer-driven marketing strategy B. differentiation C. positioning D. market targeting E. market segmentation

D

Which base of segmentation divides buyers into segments based on their​ knowledge, attitudes,​ uses, or responses to a​ product? A. Economic B. Geographic C. Psychographic D. Behavioral E. Demographic

D

Which value proposition is the most difficult to sustain in the long​ run? A. The same for less B. More for the same C. More for more D. More for less E. Less for much less

D

Choosing a differentiated targeting strategy has many​ benefits, but a potential downside is that​ __________. A. the demand for customized products is decreasing B. focusing on what is common in consumers can potentially appeal to the largest number of buyers C. offering one marketing mix can limit sales D. serving one or a few smaller segments can limit sales E. it can increase costs

E

Fitbit makes health and fitness tracking devices. Some buyers want very basic fitness tracking such as steps taken and calories consumed. Others are focused on high performance and want heart rate and sleep​ monitoring, text​ notification, and wireless sync to their smart phone. In serving these two very different​ groups, Fitbit is using​ __________ segmentation. A. personality B. usage rate C. demographic D. life-cycle stage E. benefits sought

E

If men and women respond similarly to the same marketing​ mix, they do not constitute​ distinct, identifiable segments. Gender would not be an effective base for segmentation in this example because the segments are not​ __________. A. actionable B. measurable C. substantial D. accessible E. differentiable

E

What is​ positioning? A. Dividing a market into smaller groups of buyers B. Selecting which segments to enter C. Developing profiles of market segments D. A part of a​ company-driven marketing strategy E. Arranging for a market offering to occupy a​ clear, distinctive, and desirable place relative to competing products in the minds of target consumers

E

Which of the following statements regarding segmentation is​ correct? A. Marketers typically use one variable to segment their markets. B. As gender roles have​ changed, gender is no longer a useful form of segmentation. C. The business market is homogenous and is not segmente D. The use of demographics to segment markets has declined in recent years. E. Consumer and business marketers use many similar​ variables, but business marketers use additional variables to segment their markets.

E

​"To busy multitaskers who need help remembering​ things, Evernote is a digital content management application that makes it easy to capture and remember moments and ideas from your everyday life using your​ computer, phone,​ tablet, and the​ Web." This is an example of​ a(n) ________. A. vision statement B. product specification C. order-routine specification D. statement of purpose E. positioning statement

E