Chapter 7 Quiz

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

A. Mass marketing

*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. Product differentiation D. Channel differentiation E. People differentiation

C. Product differentiation

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

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

*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 a single product dimension C. To show consumer perceptions of different brands on important product dimensions D. To compare a​ company's profitability with the profitability of competitors E. To find the best retail locations for a brand

C. To show consumer perceptions of different brands on important product dimensions

*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. substantial B. actionable C. differentiable D. accessible E. measurable

C. differentiable

*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. market targeting D. market segmentation E. positioning

C. market targeting

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

A. Marketing prepackaged lunches for children

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

A. Mass​ marketing, differentiated​ marketing, and micromarketing

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

A. cultural

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

B. Behavioral

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

B. Concentrated marketing involves​ higher-than-normal risks.

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

B. benefits sought

*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. global segmentation B. intermarket segmentation C.geographic segmentation D. ​intra-market segmentation E. cultural segmentation

B. intermarket segmentation

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

B. lifestyle and personality

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

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

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

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

*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. Geography C. Usage rate D. Lifestyle E. Gender

D. Lifestyle

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

D. More for less

*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 a segment is larger than others it should always be targeted. B. If there are powerful buyers in the segment it will drive prices up. C. Fast growing segments are always attractive. D. A segment is attractive if there are substitute products available. E. Carefully consider the degree of competition and ease of entry into the segment.

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

*Which of the following statements about segmentation is​ true?* A. Market segmentation is part of a​ company's value proposition. 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. Buyers within a market segment have different​ needs, characteristics, and behaviors. E. Different segments might require different marketing strategies or mixes.

E. 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. Undifferentiated marketing B. Concentrated marketing C. Local marketing D. Differentiated marketing E. Individual marketing

E. Individual marketing

*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. the demand for customized products is decreasing C. serving one or a few smaller segments can limit sales D. offering one marketing mix can limit sales E. it can increase costs

E. it can increase costs

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

E. value proposition

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

E. Positions must adapt over time to meet changing consumer needs.

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

E. To create superior customer value