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