Chapter 7 Quiz

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

Behavioral

BMW says their cars are​ "The Ultimate Driving​ Machine". Ford trucks are​ "Built Ford​ Tough". Which type of differentiation do these examples​ represent? A. Image differentiation B. Services differentiation C. Channel differentiation D. Product differentiation E. People differentiation

Product differentiation

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. benefits sought B. usage rate C. ​life-cycle stage D. personality E. demographic

benefits sought

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. market segmentation C. differentiation D. market targeting E. positioning

market targeting

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

Arranging for a market offering to occupy a​ clear, distinctive, and desirable place relative to competing products in the minds of target consumers

A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your​ colleague? A. If there are powerful buyers in the segment it will drive prices up. B. Fast growing segments are always attractive. 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. A segment is attractive if there are substitute products available.

Carefully consider the degree of competition and ease of entry into the segment.

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

Concentrated marketing involves​ higher-than-normal risks.

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

Consumer and business marketers use many similar​ variables, but business marketers use additional variables to segment their markets.

Which of the following statements regarding demographic segmentation is​ correct? A. Demographic segmentation divides a market based on​ age, personality, and benefits sought. B. Demographics are rarely used anymore for market segmentation. C. Demographics segmentation uses lifestyle as the primary measure for segmentation. D. Consumer​ needs, wants, and usage rates vary closely with demographic variables. E. Demographic variables are difficult to measure.

Consumer​ needs, wants, and usage rates vary closely with demographic variables.

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

Different segments might require different marketing strategies or mixes.

On the My​ M&Ms website buyers can place custom orders for​ M&Ms. They can choose their own​ colors, put a personalized text message on the​ candies, and even upload a photo to be placed on each​ M&M. Which targeting strategy is​ M&M using for My​ M&Ms? A. Concentrated marketing B. Local marketing C. Undifferentiated marketing D. Individual marketing E. Differentiated marketing

Individual marketing

There is a growing segment of people who want food that tastes good and is also good for them. This​ healthy-living segment represents which segmentation​ base? A. Age B. Usage rate C. Lifestyle D. Geography E. Gender

Lifestyle

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

Marketing prepackaged lunches for children

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

Mass marketing

What are the three broad targeting strategies used by​ marketers? A. Differentiated​ marketing, concentrated​ marketing, and micromarketing B. Mass​ marketing, undifferentiated​ marketing, and micromarketing C. Mass​ marketing, differentiated​ marketing, and micromarketing D. Undifferentiated​ marketing, differentiated​ marketing, and concentrated marketing E. Mass​ marketing, differentiated​ marketing, and concentrated marketing

Mass​ marketing, differentiated​ marketing, and micromarketin

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

More for less

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

Positions must adapt over time to meet changing consumer needs.

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

To create superior customer value

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

To show consumer perceptions of different brands on important product dimensions

When segmenting international​ markets, markets can be grouped according to​ language, religion,​ customs, and values. This type of segmentation is based on​ __________ factors. A. psychographic B. economic C. demographic D. geographic E. cultural

cultural

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. accessible C. substantial D. differentiable Your answer is correct. E. measurable

differentiable

When segmenting international​ markets, marketers often can form segments of consumers who have similar needs and buying behaviors even though they are located in different countries. This is called​ __________. A. geographic segmentation B. cultural segmentation C. intermarket segmentation D. global segmentation E. ​intra-market segmentation

intermarket segmentation

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

it can increase costs

Psychographic segmentation divides buyers into different segments based on​ __________. A. lifestyle and geography B. age and​ life-cycle stage C. lifestyle and income D. personality and income E. lifestyle and personality

lifestyle and personality

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

value proposition