MKT CH 9 Assignment

Darren King owns a small printing company and uses reams of print paper every month. When he goes to the wholesaler to pick up his normal paper supply, he also sees that the supplier is selling remnants of colored construction paper. Darren purchases the colored construction paper for his children to use for school projects and to make art. Select the two statements below that correctly describe Darren's purchases. a. The supply of print paper from the wholesaler is a business product because Darren uses it to provide a service that he sells. b. The supply of print paper from the wholesaler is a consumer product because Darren is the ultimate consumer of the product. c. The colored construction paper from the wholesaler is a consumer product because Darren's family will use it for personal projects. d. The supply of print paper from the wholesaler is a business product because Darren is a business owner. e. The colored construction paper from the wholesaler is a business product because it was purchased from a wholesaler.

a. The supply of print paper from the wholesaler is a business product because Darren uses it to provide a service that he sells. c. The colored construction paper from the wholesaler is a consumer product because Darren's family will use it for personal projects.

Estee Foods has succeeded in the highly competitive candy market by focusing on sugar-free sweets that meet the needs of people on strict sugar-free diets, like diabetics. Estee practices which of the following strategies for reaching its target market? a. Differentiated marketing. b. Concentrated marketing. c. Undifferentiated marketing. d. Lifestyle marketing. e. Behavioral marketing.

b. Concentrated marketing.

As the marketer for a new electronics firm that produces a limited number of products, you recognize that consumers are not all cut from the same cloth—many variables exist in needs and preferences. But your company cannot change its products to suit each individual consumer preference. Select the statement below that does not accurately tell how market segmentation can help your company sell its goods. a. Market segmentation will help your company identify a target consumer market with similar preferences and needs. b. Market segmentation will help your company identify product changes that will meet all consumer preferences and needs. c. Market segmentation will show your company the common factors that influence purchasing decisions in your target market. d. Market segmentation will help your company develop a marketing strategy that adjusts your message for your market.

b. Market segmentation will help your company identify product changes that will meet all consumer preferences and needs.

XYZ Company defines its primary customer group based on demographic variables. To guide the development of its advertising, you were asked to write a description of the typical customer in that group. Just before submitting the assignment, you caught an error: one sentence is wrong because it references a variable that isn't demographic. Which sentence is wrong? a. The XYZ consumer is a single parent of two adopted children. b. The XYZ consumer doesn't want to look her age. c. The XYZ consumer is between 20 and 30 years of age. d. The XYZ consumer has a growing family but earns less than $40 thousand per year.

b. The XYZ consumer doesn't want to look her age.

Which of the following positioning strategies is inaccurately described? a. A car maker who offers the best warranty in the business is positioning based on product attributes. b. To succeed with value positioning, a company must offer the lowest price. c. A company can succeed with value positioning despite failing to offer the lowest price. d. A hospital advertises the fact that, unlike other health care facilities, it offers a natural birthing center. The hospital is positioning based on competitive factors.

b. To succeed with value positioning, a company must offer the lowest price.

While totaling your quarterly receipts for your business, The Breakfast Bar, you note that a sizable amount of your revenue comes from selling packaged coffee beans to regular customers who come in every day for an extra-large cup of coffee togo. Your plan for the next quarter is to promote your selection of fresh roasted beans with a buy one, get one half off incentive to encourage these customers to purchase more and/or try something new. Which segmentation approach are you employing to bolster sales for the next quarter? a. Demographic. b. Psychographic. c. Behavioral. d. Value. e. Promotional.

c. Behavioral.

As a marketer, you have many different tools at your disposal to gather the information necessary to develop targeted marketing programs. One of those tools is psychographic segmentation. Select the type of information below that cannot be gathered using psychographic variables. a. I want to know how much a consumer in my target market enjoys playing and watching sports. b. I want to gather data to indicate my target market's attitudes toward home schooling. c. I want to know how many children under the age of 18 live in the households of my target market. d. I want to know how often my target market listens to the radio.

c. I want to know how many children under the age of 18 live in the households of my target market.

You turned on your tablet to read an online article about a Texas-based furniture retailer that reported its first gain in same-store sales in almost two years. The gains were realized in foldable tables and convertible sofas, areas specifically targeted for improvement and often preferred by apartment dwellers with limited space. The company attributes its success to having moved its stores from rural and suburban communities into Dallas-Ft. Worth, 1 of the 10 largest metropolitan areas in the United States. What significant geographic variable or combination of variables is likeliest to be responsible for this retailer's success? a. Market region. b. Climate. c. Market density. d. Urbanization. e. Market region and urbanization.

c. Market density.

Market segmentation is used by marketers to develop the strategy they will use to present their product or service to the consumer. Select the statement below that best describes how market segmentation works. a. Market segmentation is used to differentiate between local and global consumers. b. Market segmentation allows the federal government to monitor business practices nationwide to make sure they comport with federal regulations. c. Market segmentation groups consumers according to similarities and differences in reference to factors that influence purchase decisions. d. Market segmentation is used to differentiate between profit-oriented and nonprofit organizations

c. Market segmentation groups consumers according to similarities and differences in reference to factors that influence purchase decisions.

Based on sales reports and customer feedback, you have mapped five brands of toothpaste marketed by your company so that you can get a visual of how each rates with the public. Based on the positioning descriptions below, which brand is considered by consumers as the best overall value? Brand A: Low Price; Low Quality. Brand B: High Price; High Quality. Brand C: Moderate Price; Moderate Quality. Brand D: Moderate Price; High Quality. Brand E: High Price; Low Quality. a. Brand A. b. Brand B. c. Brand C. d. Brand D. e. Brand E

d. Brand D.

Making soap has been your hobby for some time, but now you are contemplating turning your hobby into a small business. You use only hypoallergenic ingredients in your small batch soaps. Now sales come by word of mouth, but you plan to promote your handmade goods and sell them on one or more online outlets to people who are sensitive to the cleaning agents used in mass market soaps. Which marketing strategy will fit your newly established business? Select the best answer. a. Differentiated marketing, because you need to differentiate between consumers who are sensitive to mass market cleaning agents and those who are not. b. Health marketing, because your soaps will help prevent allergic reactions. c. Undifferentiated marketing, because soaps serve the same purpose for all consumers. d. Concentrated marketing, because you will concentrate on meeting the needs of a single market segment.

d. Concentrated marketing, because you will concentrate on meeting the needs of a single market segment.

Your large retail store sells power tools and construction supplies, and your customer base is made up primarily of home improvement contractors, subcontractors, and serious DIYers. But business has stagnated now that the housing market has seen a downturn. What can you do to boost your sales and keep your business solvent? a. Concentrate on selling high-profit items that are already in your inventory. b. Offer reduced prices to your customer base to build loyalty in that market segment. c. Concentrate on selling either a consumer product or a business product, not both. d. Consider marketing to a segment that meets the criteria for effective segmentation. e. Increase your advertising to home improvement contractors.

d. Consider marketing to a segment that meets the criteria for effective segmentation.

Two demographic variables used when segmenting consumer markets are segmenting by age and segmenting by stage in the life cycle. Which of the following situations does not illustrate segmenting by age? a. A car is marketed with the tag "For their first car, pick a brand first in safety ratings." b. A miniature version of a well-known bicycle is marketed with three wheels. c. Breakfast cereal is marketed as being high in antioxidants, which have antiaging properties. d. Flat-pack furniture is marketed as inexpensive and easily portable.

d. Flat-pack furniture is marketed as inexpensive and easily portable.