Chapter 9 Assignment for Module 5

Ford Motor Company owns Ford, Lincoln, Mercury, and Volvo automotive brands, each with vehicles appealing to market segments with different needs and lifestyle choices. Ford uses this variety of brands to pursue a(n) Blank______ targeting strategy. Multiple choice question. benefit differentiated undifferentiated micromarketing

differentiated

Estee Lauder has a brand portfolio with more than 25 brands in over 150 companies. Having a variety of brands allows Estee Lauder to Blank______. Multiple choice question. focus on profitable markets decrease promotional expenses increase the market for its products use mass marketing tactics

increase the market for its products

A point where a market segment's desired product would be located on a perceptual map is called a(n) BLANK point. (Remember to type only one word per blank.)

ideal

Which of the following is an example of occasion segmentation for a chocolate maker? Multiple choice question. The company offers some of its chocolates in heart-shaped boxes for Valentine's Day. The company sells both regular and sugar-free chocolate. The company prices its chocolates differently in different geographic areas. The company sells white, milk, and dark chocolate to serve different taste preferences.

The company offers some of its chocolates in heart-shaped boxes for Valentine's Day.

The Blank______ strategy must be consistent with and derived from the firm's mission and objectives, as well as its current situation—its strengths, weaknesses, opportunities, and threats (SWOT). Multiple choice question. segmentation shareholder accounting demographic

segmentation

McDonald's often targets families by showing families having a good time in its advertising. This appeals to a families' Blank______. Multiple choice question. self-value self-selection self-respect self-concept

self-concept

Recognizing that many people attend sporting events to meet their need for camaraderie and belonging, a minor-league baseball team promotes its season ticket packages by highlighting the sense of community among season ticket holders. In this case, the team is using psychographic segmentation based on Blank______. Multiple choice question. self-values lifestyles self-concept self-actualization

self-values

A coffee company that advertises its products as "a delicious pick-me-up to start your morning right" uses which form of segmentation? Multiple choice question. Psychographic Demographic Benefit Geographic

Benefit

True or False: Firms must be able to identify who is within their markets to be able to design products or services to meet customer needs.

True

True or False: Value is a popular positioning method because the relationship between price and quality is important to consumers.

True

True or False: When a firm decides to position its brand using a perceptual map, it must also take into account competitors' positions. True false question.TrueFalse

True

How do firms commonly position themselves in the marketplace when using a competition positioning method? (Choose every correct answer.) Multiple select question. Against an entire product classification Against an entire service classification Against a specific competitor Against their own customer bases

Against an entire product classification Against an entire service classification Against a specific competitor

Which of the following are considered when using the Tapestry Segmentation system? (Choose every correct answer.) Multiple select question. Age Loyalty Home value Education Benefits

Age Home value Education

For which of the following companies would demographic segmentation be the LEAST useful? Multiple choice question. A cosmetics company A beard oil producer A discount club for retirees An athletic shoe manufacturer

An athletic shoe manufacturer

Whereas most men's suit brands focus on their craftsmanship and use of high-quality materials, Bluebird Suits distinguishes itself by emphasizing the durability of its products and deriding other suit makers as "delicate." Which positioning method is Bluebird using? Multiple choice question. Salient attributes Competition Value proposition Symbols

Competition

True or False: Marketers evaluate the attractiveness of a segment by considering whether the segment is powerful, vocal, visible, and influential. True false question.

False

What does the value proposition do for marketers? Multiple choice question. It communicates the customer benefits provided by a product or service. It describes the target market. It details the marketing mix. It assesses the attractiveness of the target segment.

It communicates the customer benefits provided by a product or service.

A clothing company that offers a special line of maternity clothing for women to wear specifically during pregnancy engages in which form of segmentation? Multiple choice question. Loyalty Geographic Occasion Psychographic

Occasion

Firms position products based on which of the following? (Choose every correct answer.) Multiple select question. Symbols Salient attributes Psychographics Demographics Value

Symbols Salient attributes Value

Which step of the STP process involves evaluating the attractiveness of various market segments and choosing the segments to pursue? Multiple choice question. Positioning Segmentation Targeting Signaling

Targeting

What are the three components of the STP process? (Choose every correct answer.) Multiple select question. Stratification Targeting Traffic management Segmentation Positioning Placement

Targeting Segmentation Positioning

Which of the following is a segmentation tool that classifies U.S. residential neighborhoods into segments based on the lifestyles and demographics of the people who live there? Multiple choice question. The Tapestry Segmentation system The Boston Consulting Group Matrix SWOT analysis The VALS framework

The Tapestry Segmentation system

When marketers consider the defection rate of a market segment, what behavior are they calculating? Multiple choice question. The number of advertising impressions required to convince the typical customer to make a purchase The percentage of customers who switch to a competitor over a given year The percentage of a competitor's customer base who are open to new products The amount of product failures the segment is willing to tolerate

The percentage of customers who switch to a competitor over a given year

What does the size of a numbered circle on a perceptual map indicate? Multiple choice question. The number of existing products in that position The cost of the positioning strategy The profitability of the market position The size of the target market

The size of the target market

A dairy producer has determined that almost all grocery consumers are potential customers for its products. Which type of marketing strategy should the company use? Multiple choice question. Diffuse Concentrated Differentiated Undifferentiated

Undifferentiated

Which of the following are key elements of a value proposition statement? (Choose every correct answer.) Multiple select question. Product availability Unique differences/benefits Product name/brand Target market

Unique differences/benefits Product name/brand Target market

Which of the following questions might a marketer ask to determine consumers' perceptions and evaluations of a product in relation to a competitor's product? (Choose every correct answer.) Multiple select question. What might make you choose one brand over another? What products do you consider satisfying alternatives? Have you heard of the other products that our company sells? How do you use our product?

What might make you choose one brand over another? What products do you consider satisfying alternatives? How do you use our product?

Based on the Circles for a Successful Value Proposition framework, when should a firm reengineer its product to stop providing certain benefits? Multiple choice question. When customers are unaware that the product meets one of their needs When customers express little need or desire for the benefits in question When customer needs are met by the benefits in question as well as by competitors When customer needs are met by the benefits in question, but are not met by benefits provided by competitors

When customers express little need or desire for the benefits in question

When should a firm attempt to match its competitor's value proposition? Multiple choice question. When increasingly more customers demand the competing product's benefits. When customer needs shift away from the competitor's benefits When the competitor is losing market share When more customers demand the firm's products than its competitor's products

When increasingly more customers demand the competing product's benefits.

"Pork. The Other White Meat." is an advertising campaign that promoted pork as a white-meat alternative to chicken or turkey. This is a positioning strategy that focuses on Blank______. Multiple choice question. competition usage value pricing branding

competition

Foster Designs sells different types of clothing for men and women. To ensure the retail store locations contain the appropriate assortment of clothing for the typical customer living in the area, the firm should use Blank______ segmentation. Multiple choice question. psychographic geodemographic demographic behavioral benefit

geodemographic

When a firm adapts a product or service to meet an individual customer's wants or needs, it is undertaking an extreme targeting strategy called Blank______. Multiple choice question. macromarketing mass marketing concentrated marketing micromarketing

micromarketing

Compared to most available targeting strategies, differentiated targeting is Blank______. Multiple choice question. more expensive more reachable more easily sustainable more practical

more expensive

Because each segmentation method has its unique advantages and disadvantages, most firms often employ Blank______ methods. Multiple choice question. basic multiple simple individual

multiple

One of the benefits of a differentiated targeting strategy is that it allows the firm to Blank______. Multiple choice question. reduce personnel expenses obtain a bigger share of the market spread overhead out evenly reduce marketing expenses

obtain a bigger share of the market

Value is a popular positioning method and is the most important consideration for consumers when they make a purchase decision based on Blank______. Multiple choice question. price, quantity, and quality price and quality quality and quantity price and quantity

price and quality

When assessing the attractiveness of a segment, marketing managers need to calculate the Blank______ of each segment, both current and future. Multiple choice question. purchase behavior expenses profitability adoption rate

profitability

John is a supporter of environmental issues. He is constantly examining the "green" credentials of the products he purchases. John's purchasing behavior is a reflection of his Blank______. Multiple choice question. labeling VALS self-concept self-values

self-values

When a company sells commodities such as salt, sugar, or gasoline, the firm will most likely use a(n) Blank______ strategy, although this strategy is becoming less common in an increasingly complex market. Multiple choice question. differentiated concentrated niche micromarketing undifferentiated

undifferentiated

When a firm sells products that meet the needs of many kinds of customers, it will most likely use a(n) Blank______ targeting strategy because there is little need to formulate different strategies for different groups. Multiple choice question. concentrated one-to-one differentiated undifferentiated

undifferentiated

When everyone is considered a potential user of its product, a firm should use a(n) Blank______ targeting strategy. Multiple choice question. specialized undifferentiated concentrated micro-marketing

undifferentiated

Something about perception point, what size do you want?

the largest ideal point

Even if a firm has developed a product that addresses the needs of a specific, substantial market segment, its efforts will fail if the segment is Blank______. Multiple choice question. unsegmented diverse too large unreachable

unreachable

The Blank______ communicates the customer benefits to be received from a product or service—in other words, why a customer should purchase the product. Multiple choice question. micromarketing strategy segmentation strategy targeting strategy value proposition

value proposition

BLANK segmentation variables include age, income, and gender.

Demographic

Why might a start-up company benefit from selecting a concentrated targeting strategy? Multiple choice question. Many start-ups have surplus resources earmarked for specific markets. A concentrated strategy is a more efficient use of limited resources. Diverse market sectors are unlikely to trust new companies. Most modern entrepreneurs cater to uniform demographics.

A concentrated strategy is a more efficient use of limited resources.

Which of the following companies would benefit the most from using a concentrated targeting strategy? Multiple choice question. An established local restaurant with growing name recognition and several positive reviews A multinational restaurant franchiser with millions of regular customers A regional chain of restaurants that attracts customers from multiple states A new, relatively unknown food cart with two employees and a minimal budget

A new, relatively unknown food cart with two employees and a minimal budget

What type of segmentation categorizes consumers on the basis of the outcomes they hope to derive from a product or service? Multiple choice question. Geodemographic Psychographic Benefit Behavioral

Benefit

BLANK1 BLANK 2 analysis uses purchase transaction data to identify associations between products or combinations of products and services that occur together frequently.

Blank 1: Market Blank 2: basket

Which of the main value components are contained in the value proposition "SportsAde offers serious athletes a great-tasting way to stay hydrated during exercise"? (Choose every correct answer.) Multiple select question. Brand Benefits Target market Availability

Brand Benefits Target market

Why are successful brands unable to realize enduring success in meeting consumer demands? Multiple choice question. Competitors will encroach on the firm's value proposition by copying important product or service attributes. Customer needs and wants change too rapidly for the firm to maintain its current level of success. The costs associated with meeting customer needs on that scale will soon lead the company to go out of business. The federal government will not allow a single firm to maintain that level of success.

Competitors will encroach on the firm's value proposition by copying important product or service attributes.

Which of the following are criteria considered by marketers to evaluate whether or not a segment is worth pursuing? (Choose every correct answer.) Multiple select question. Identifiable Attractive Reachable Profitable

Identifiable Reachable Profitable

Which of the following are the Circles for a Successful Value Proposition? (Choose every correct answer.) Multiple select question. Other customer segments Customer needs and wants Benefits offered by competitors The company's offerings The marketing mix

Customer needs and wants Benefits offered by competitors The company's offerings

Which situation constitutes a competitor's value proposition? Multiple choice question. Customer needs are met by the competitor but not by the focal firm. Customer needs are met by both the competitor and the focal firm. Customer needs are not met by either the competitor or the focal firm. Customer needs are met by the focal firm but not by the competitor.

Customer needs are met by the competitor but not by the focal firm.

What is the first step marketers take in deriving a perceptual map? Multiple choice question. Selecting the position Identifying the market's ideal points and size Determining consumers' perceptions of the product in relation to competitors' products Determining consumer preferences for an ideal product or service

Determining consumers' perceptions of the product in relation to competitors' products

If a handbag manufacturer offers three different purses (a budget-conscious version, a slightly higher-end version, and a luxury version) to three different target markets, which targeting strategy is it using? Multiple choice question. Micromarketing Differentiated Concentrated Undifferentiated

Differentiated

Which targeting strategy is likely to be most costly for a firm? Multiple choice question. Concentrated Undifferentiated Differentiated Micromarketing

Differentiated

When creating a perceptual map, what should a firm do after it understands how customers view its brand relative to competitors'? Multiple choice question. Conduct a SWOT analysis Establish overall marketing objectives Select a target market Identify competitors' positions

Identify competitors' positions

Which of the following statements are true concerning micromarketing? (Choose every correct answer.) Multiple select question. It involves customizing a product or service. It is also known as one-to-one marketing. It is considered an extreme form of segmentation. It is a strategy that is rarely implemented using the Internet.

It involves customizing a product or service. It is also known as one-to-one marketing. It is considered an extreme form of segmentation.

When establishing its overall segmentation strategy or objectives, what must the firm keep in mind? (Choose every correct answer.) Multiple select question. Its mission and objectives Its target market Its current situation Its past performance

Its mission and objectives Its current situation

When marketers combine segmentation methods, which approaches do they typically use to design a product or service? (Choose every correct answer.) Multiple select question. Lifestyles Geography Demographics Benefits

Lifestyles Benefits

______ analysis is a specific type of data analysis that focuses on the composition of the basket, or bundle, of products purchased during a single shopping occasion. Multiple choice question. Market basket Combo Cart Marketing cart

Market basket

Which of the following are key factors to keep in mind when marketers focus their assessments on the potential profitability of market segments, both current and future? (Choose every correct answer.) Multiple select question. Market competitiveness Market oriented era Market growth Market access

Market competitiveness Market growth Market access

Under which market situations would a firm be most likely to sustain a unique value proposition over the long term? (Choose every correct answer.) Multiple select question. Pure competition Monopolistic competition Oligopoly Monopoly

Monopolistic competition Monopoly

What options does a firm have if customers express little need or desire for the firm's value proposition? (Choose every correct answer.) Multiple select question. Increasing the price of the product or service Improving customer access to the product or service Removing unappealing benefits from the product Educating customers about the benefits of its product or service

Removing unappealing benefits from the product Educating customers about the benefits of its product or service

Sunrise foods has been developing a new line of meatless breakfast sandwiches. Sunrise has identified a market segment and, through the use of surveys and blind taste tests, has found that members of the segment react favorably to the new offerings. Which criterion for evaluating segment attractiveness does the segment meet? Multiple choice question. Loyal Responsive Profitable Powerful

Responsive

What analytical method does a firm typically employ to assess the target market and its own competencies? Multiple choice question. Target market buying power analysis SWOT analysis Profit and loss analysis Ratio analysis

SWOT analysis

The maker of a line of protein shakes knows that its target market places a high value on the use of natural products, so the company's positioning strategy focuses on its use of organic, locally sourced ingredients. Which positioning method is the company using? Multiple choice question. Value proposition Competition Salient attributes Symbols

Salient attributes

A resort advertisement that contains images of groups of people having fun on the beach or lounging by the pool appeals to which component of psychographics? Multiple choice question. Self-values Stereotypes Self-concept Lifestyles

Self-concept

Which of the following are factors that can help a marketer determine the profitability of a segment over the lifetime of one of its typical customers? (Choose every correct answer.) Multiple select question. The cost of replacing lost customers Profit margin percentage Customer defection rate Probable length of customer loyalty

The cost of replacing lost customers Customer defection rate Probable length of customer loyalty

What marketing opportunities does a firm have when customer needs are unmet? (Choose every correct answer.) Multiple select question. The opportunity to create new products or services The opportunity to identify new market segments The opportunity to change customer needs The opportunity to augment existing products or services

The opportunity to create new products or services The opportunity to augment existing products or services

Why are psychographic market segments considered "self-selecting" groups? Multiple choice question. They respond best to advertisements that feature people who look like them. They prefer to be alone and are notoriously difficult to contact. They are determined by voluntary responses to surveys. They are grouped together based on factors that they choose rather than those they cannot control.

They are grouped together based on factors that they choose rather than those they cannot control.

What is the purpose of a trademark? Multiple choice question. To highlight the salient attributes of a product or service To protect a well-known symbol or other identifying feature from use by other companies or individuals To contrast a product or line of products against similar products offered by competitors To communicate a high quality-to-price ratio to consumers

To protect a well-known symbol or other identifying feature from use by other companies or individuals

True or false: A firm assesses attractiveness of a target market and its own competencies using a SWOT analysis.

True

Which situation represents an important marketing opportunity for creating new products or altering existing products? Multiple choice question. When customers are satisfied with only the firm's offerings When customers' needs are met by the firm and its competitors When customer needs are not completely met When customers have little need or desire for the firm's offerings

When customer needs are not completely met

Southwest Airlines promotes its Rapid Rewards program to reward frequent flyers with benefits like free travel vouchers, priority seating, and premium beverages. This is an example of Blank______ segmentation. Multiple choice question. behavioral occasion multiple psychographic

behavioral

When a firm offers customers a loyalty card for car washes, the firm is employing loyalty segmentation, one of two common types of BLANK segmentation.

behavioral

When customers visit Hewlett-Packard's website, they can choose from different options based on what they need from a computer and how they expect it to improve their life. This is an example of Blank______ segmentation. Multiple choice question. benefit value psychographic demographic

benefit

Benefit segmentation is often effective because it is relatively easy to portray a product's or service's benefits in the firm's Blank______ strategies. Multiple choice question. communication supply chain sales relationship

communication

On a perceptual map, marketers can represent the size of both BLANK and potential markets by using different sized ovals that correspond to the market size.

current or existing

Age, gender, and income are all examples of Blank______ segmentation variables. Multiple choice question. benefit psychographic demographic geographic

demographic

Firms using a(n) BLANK targeting strategy direct their efforts to several market segments with distinct brands and product offerings for each segment.

differentiated

General Mills manufactures a wide variety of brands of breakfast cereals because it targets many consumer markets. Although it is likely to be more costly for the firm, a(n) Blank______ marketing strategy would help lower the company's overall level of risk. Multiple choice question. differentiated undifferentiated concentrated micromarketing

differentiated

It is important to ensure that segments are distinct from one another because too much overlap between segments means that Blank______. Multiple choice question. there is always a need to have many diverse market segments targeted distinct marketing strategies are not necessary to meet segment members' needs the target market segment is probably too large the target market segment is definitely too small

distinct marketing strategies are not necessary to meet segment members' needs

Segmentation that uses a combination of geographic, demographic, and lifestyle characteristics to classify consumers who may patronize stores close to their neighborhood is called Blank______ segmentation. Multiple choice question. geodemographic benefit behavioral regional

geodemographic

When a firm positions a product based on its salient attributes, it highlights features that are most Blank______ to the target market. Multiple choice question. mysterious important affordable expensive

important

Psychographics study how people Blank______ their time and the underlying psychological factors that determine their choices. Multiple choice question. value increase pay for occupy

occupy

A well-known symbol can be used as a Blank______ tool, distinguishing the brand from its competition. Multiple choice question. positioning pricing distribution segmentation

positioning

Sometimes, firms find it difficult to use demographics in their segmentation strategies. This is because in some cases demographics Blank______. Multiple choice question. are prohibitively expensive to measure predict consumer wants and needs poorly are very complicated to understand are irrelevant to the user

predict consumer wants and needs poorly

Persuasive communications and accurate product distribution are techniques used by firms to Blank______ market segments. Multiple choice question. assess the size of identify reach measure

reach

Persuasive communications and accurate product distribution are techniques used by firms to Blank______ market segments. Multiple choice question. measure assess the size of reach identify

reach

Customers in the segment must react similarly and positively to the firm's offering. This quality is known as Blank______ which is an important element of successful segmentation. Multiple choice question. identifiability profitability responsiveness sensitivity sustainability

responsiveness

If a market is too Blank______ or if its buying power is Blank______ it won't generate sufficient profits or be able to support the marketing mix activities. Multiple choice question. small; insignificant large; rapid in growth large; insignificant small; rapid in growth

small; insignificant

Once a firm is able to identify the market and is able to design products or services to meet its needs, the next step is to determine if the market size is Blank______. Multiple choice question. variable tangible substantial recognizable

substantial

Some Blank______ such as the Nike swoosh, are so strong and well known that they help position the brand. Multiple choice question. products brands copyrights symbols

symbols

In the Circles for a Successful Value Proposition, the best situation for a firm is if Blank______. Multiple choice question. the product or service overlaps with competitors' offerings but not with customer needs and wants the product or service overlaps with customer needs and wants but not with competitors' offerings the product or service overlaps with customer needs and wants and with competitors' offerings customer needs and wants overlap with competitors' offerings but not with the product or service

the product or service overlaps with customer needs and wants but not with competitors' offerings

Firms position their products based on methods such as Blank______. Multiple choice question. demographics, geodemographics, psychographics, and benefits the value proposition, salient attributes, symbols, and competition product, price, place, and promotion undifferentiated positioning, concentrated positioning, differentiated positioning, and micropositioning

the value proposition, salient attributes, symbols, and competition

If a firm positions its product too closely to the competition, it risks Blank______. Multiple choice question. being forced to stop production being forced to lower the price trademark infringement lawsuits consumer backlash

trademark infringement lawsuits

Symbols are generally registered Blank______ that are legally protected by the companies that create them. Multiple choice question. trademarks copyrights personalities icons

trademarks