Quiz 9

What is the first step marketers use to derive a perceptual map? a. Determine consumers' perceptions and evaluations of the product or service in relation to competitors b. Identify competitors' positions c. Identify the market's ideal points and size d. Determine consumer preferences e. Monitor the positioning strategy

a. Determine consumers' perceptions and evaluations of the product or service in relation to competitors

When an organization selects a single, primary target market and focuses all its energies on providing a product to fit that markets needs it is using a(n) _____ targeting strategy. a. concentrated b. mass marketing c. micromarketing d. differentiated e. undifferentiated

a. concentrated

When everyone might be considered a potential user of its product, a firm likely uses a(n) _____ targeting strategy. a. differentiated b. undifferentiated c. concentrated d. micromarketing e. one-to-one

a. differentiated

A manufacturer of t-shirts concentrates all its efforts on cost containment by offering the product in only one size but in a variety of colors, using a one-size-fits-all approach. This involves a _____ targeting strategy. a. mass marketing b. differentiated c. concentrated d. one-to-one e. micromarketing

a. mass marketing

Which of the following best describes the notion of "market positioning?" a. The geographic location of the headquarters of a corporation. b. The place the product occupies in consumer's minds relative to competing products. c. The position that a company holds in the market in terms of size relative to competitors. d. A group of organizations that have similar wants and needs. e. The process of increasing a firm's overall sales and as a result, increasing its market share.

b. The place the product occupies in consumer's minds relative to competing products.

During which step of the STP process do marketers ask whether the segment is identifiable, substantial, reachable, responsive, and profitable? a. develop positioning strategy b. evaluate segment attractiveness c. select target market d. select segmentation method e. establish overall strategy or objectives

b. evaluate segment attractiveness

Market growth, market competitiveness, and market access are all important factors in analyzing which criteria of segment attractiveness? a. responsive b. profitable c. identifiable d. substantial e. reachable

b. profitable

Which step in the STP process develops descriptions of the different segments, which helps firms better understand the customer profiles in each segment? a. develop positioning strategy b. select segmentation method c. evaluate segment attractiveness d. select target market e. establish overall strategy or objectives

b. select segmentation method

The positioning strategy can help communicate a brand's _____, representing the unique value provided to customers. a. market share b. value proposition c. segmentation method d. benefits segmentation e. targeting strategy

b. value proposition

The Nike swoosh is an example of which of the following positioning tools to create a position for the brand that distinguishes it from its competitors? a. Positioning based on profit potential b. Positioning based on product attributes c. Positioning based on symbolism d. Positioning using perceptual mapping e. Positioning against a specific competitor

c. Positioning based on symbolism

Large firms with multiple offerings in a particular product category engage in _____ targeting strategies to obtain a bigger share of the market, increase the overall market for the product categories they sell, and to diversify their businesses. a. undifferentiated b. concentrated c. differentiated d. micromarketing e. mass marketing

c. differentiated

When a firm evaluates its overall mission, including its strengths, weaknesses, opportunities, and threats, it is engaged in which step of the segmentation targeting and positioning process? a. evaluating segment attractiveness b. developing the positioning strategy c. establishing overall strategy or objectives d. determining segmentation methods e. selecting the target market

c. establishing overall strategy or objectives

The publishing conglomerate, Conde Nast is able to purchase mailing lists of people who have bridal interests, knowing that its Modern Bride magazine customers are somewhat distinct from those who subscribe to GQ. In terms of evaluating segment attractiveness, this is a way of assuring the segment is: a. reliable. b. substantial. c. identifiable. d. profitable. e. responsive.

c. identifiable.

Volvo is known for its superior safety and performance features. They focus their communication efforts to reinforce this perception. This is an example of: a. positioning using perceptual mapping b. positioning based on symbolism c. positioning based on product attributes d. positioning against a specific competitor e. positioning based on profit potential

c. positioning based on product attributes

_____ is a tool used to visually display how consumers perceive the position of products or brands in the market on different dimensions relative to competitors. a. An ideal point b. An optimal point c. Competitive positioning d. A perceptual map e. A competitive map

d. A perceptual map

Mr. Dennison knows each and every child who comes in to his Kumon reading center, and prides himself on knowing how he can personally address each of their reading challenges. What type of market coverage strategy is Mr. Dennison employing in his business? a. Concentrated marketing b. Segment marketing c. Niche marketing d. Micromarketing e. Mass marketing

d. Micromarketing

_____ segmentation, the most common means to define segments, involves defining groups based on characteristics such as age, gender, income, and education. a. geodemographic b. lifestyle c. psychographic d. demographic e. geographic

d. demographic

Land's End allows customers buying shirts to choose from a variety of fabrics, types of collar and sleeve, based on the customer's specific measurements, capitalizing on new technologies to mass customize its products and services. This is an example of: a. mass marketing b. niche marketing c. concentrated marketing d. micromarketing e. segment marketing

d. micromarketing

Jack describes himself as having a strong need to belong to a group, which motivates him to seek out activities that involve others. Marketers would use this type of information when developing _____ segments. a. demographic b. geographic c. geodemographic d. psychographic e. niche

d. psychographic

In order for segmentation strategy be successful, the customers in the segment must react similarly and positively to firm's offering, corresponding to which of the following criteria for evaluating segment attractiveness? a. reachable b. profitable c. substantial d. responsive e. identifiable

d. responsive

Lawn care products manufacturer Scotts, has developed easy-to-follow, annual lawn care programs to help homeowners develop thick, green lawns that will combat weeds, insects, and diseases. The specific steps that must be used and their timing vary based on climate. What type of segmentation should Scotts use as the basis to design these programs? a. Psychographic b. Behavioral c. Demographic d. Geothermal e. Geographic

e. Geographic

General Motors targets several different market segments and designs separate automobile makes and models for each. This is an example of: a. mass marketing. b. undifferentiated marketing. c. micromarketing. d. concentrated marketing. e. differentiated marketing.

e. differentiated marketing.

The _____ indicates where a particular market segment's ideal product lies on the perceptual map. a. optimal point b. value proposition c. target market d. equilibrium point e. ideal point

e. ideal point

Behavioral segmentation based on when a product or service is purchased or consumed is called _____ segmentation. a. demographic b. lifestyle c. psychographic d. location e. occasion

e. occasion

In order for the ______ criteria to be met when evaluating segment attractiveness, the consumer must know the product or service exists, understand what it can do for him or her, and recognize how to buy it. a. profitable b. substantial c. responsive d. identifiable e. reachable

e. reachable