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Ch 4 Review
Terms in this set (76)
1) Which of the following is the BEST example of a "generic market?" 1) _______
A) the e-commerce market.
B) the minivan market.
C) the "singles" entertaining market.
D) the beer market.
E) the meat market.
2) The MOST USEFUL dimensions for segmenting markets are: 2) _______
A) benefits sought.
B) brand familiarity and consumption patterns.
C) geographic and demographic dimensions.
D) it depends on what product-market one is segmenting.
E) social class.
3) Differentiating the marketing mix is important because: 3) _______
A) It can clarify the position the firm wants to achieve with customers.
B) It can help target customers to view the firm's position in the market as uniquely suited to their preferences and needs.
C) It can help the firm build a competitive advantage with a group of target customers.
D) It can contribute to better blending of marketing mix decisions to achieve desired objectives.
E) All of these alternatives are true
4) Which of the following is LEAST likely to compete in the same generic market with the others? 4) _______
B) Soft drink.
C) Ice cream.
5) Which of the following is the BEST example of a "generic market?" 5) _______
A) The sports drink market
B) the minivan market.
C) The female exercise shoes market
D) The sporting goods market
E) The adult "personal expression" market
6) Which of the following is NOT part of a product-market definition? 6) _______
A) a description of the type of product
B) information about which specific retailers will sell the product
C) information about consumer needs
D) information about the final customer (or user) of the product
E) All of these should be included in a product-market definition
7) Which of the following is the most accurate definition of the term segmenting? 7) _______
A) It uses scientific rules to decide how many submarkets exist.
B) It assumes that each person should be treated as a separate target market.
C) It assumes that all customers can be clustered into profitable market segments.
D) It is a disaggregating or "breaking down" process.
E) It is an aggregating process
8) Product type determining dimensions ______. 8) _______
A) are generally relevant to purchasing behavior
B) are less specific than qualifying dimensions
C) affect the customer's choice of a specific kind of product
D) are relevant to including a customer type in the product-market
E) affect the customer's purchase of a specific product branD
9) A visual aid to market segmentation is called the ______. 9) _______
A) target market
B) heterogeneous market
C) marketing grid
D) homogenous market
E) market boundary
10) When is repositioning needed? 10) ______
A) Markets become homogenous in between.
B) Each market segment has its own preferences.
C) Ethical issues arise in selecting segmenting dimensions.
D) Direction of the marketing strategy is not clear or focused.
E) Customers are not viewing the brand the desired way.
11) A generic market definition includes all of the following terms EXCEPT: 11) ______
A) customer needs. B) customer type.
C) product type. D) geographic area
12) Which of the following is the WORST example of a "generic market"? 12) ______
A) The home improvement market.
B) The recreation market.
C) The designer jeans market.
D) The information storage market.
E) The entertainment market.
13) Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product-market. To obtain some economies of scale, QCI decided NOT to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the 13) ______
A) single target market approach.
B) mass marketing approach.
C) combined target market approach.
D) multiple target market approach.
E) None of these is a good choice for Quality Ceramic.
14) Marketers segment broad markets into smaller target segments based on a variety of ______. 14) ______
A) marketing grids
C) positioning maps
15) Gina Williams wanted to start a decorating business. She identified several possible target markets, but decided to serve a market composed of recently married couples that owned their first home. Gina appears to be following the ______ approach. 15) ______
A) mass marketing
B) niche market targeting
C) multiple target market
D) combined target market
E) single target market
16) Clustering techniques 16) ______
A) group customers into heterogeneous segments.
B) use intuition and judgment to do what previously was done by computers.
C) help sellers fine-tune the marketing effort with information from a detailed customer database.
D) establish how customers think about proposed or present brands in a market.
E) try to find similar patterns within sets of data.
17) A ______ is a group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services. 17) ______
B) consumer forum
C) generic industry
18) "Positioning" is a marketing management aid that refers to: 18) ______
A) how customers think about proposed and/or present brands in a market.
B) a product's ability to provide both immediate satisfaction and social responsibility.
C) how a firm approaches customer relationship management.
D) a firm's ability to distribute products through intermediaries who are in the right position to reach target customers.
E) all of these alternatives are true.
19) A basic difference between a "generic market" and a "product-market" is: 19) ______
A) whether customer needs are similar or different.
B) whether or not sellers in the market rely on e-commerce.
C) There is NO DIFFERENCE-the terms mean the same thing.
D) how similar the competing sellers' products are.
E) whether the market includes only buyers-or both buyers and sellers.
20) ______ aim at one or more homogeneous segments and try to develop a different marketing mix for each segment. 20) ______
A) Segment aggregators
C) Segment combiners
21) Which of the following is a consumer market demographic dimension? 21) ______
A) Stage in family life cycle
B) Income distribution
C) Ethnic group
D) Family size
E) All of these are examples of a consumer market demographic dimension
22) Compared to a product-market, a generic market: 22) ______
A) Can never help marketers identify opportunities.
B) Is more narrowly defined.
C) Has sellers offering a more diverse set of products.
D) None of these is a good answer.
23) Merging two or more submarkets into one larger target market as a basis for one strategy is known as the ____ target market approach. 23) ______
24) Which of the following is LEAST LIKELY to compete in the same generic market as the others? 24) ______
A) Fruit salad.
B) Ice cream.
C) Apple pie.
D) Chocolate chip cookie.
25) Which of the following is the BEST example of a "generic market?" 25) ______
A) The senior citizen recreation market
B) The designer shoes market
C) The Hispanic-American market
D) The transportation market
E) The frozen yogurt market
26) Segmenting international markets can be more difficult because: 26) ______
A) a manager must rely entirely on his or her own judgments about people in other countries.
B) the concepts and approaches for segmenting domestic markets simply do not apply.
C) there are fewer useful dimensions.
D) the quantity and quality of available market data are usually greater.
E) there are more dimensions and many unfamiliar variables.
27) Which of the following is NOT one of the target marketing approaches for developing market-oriented strategies in a broad product-market? 27) ______
E) All of these are target marketing approaches.
28) The first step in segmenting international markets is to: 28) ______
A) treat all the countries in the "foreign market" as one segment.
B) develop a marketing mix.
C) consider the number, size, kind, and location of business and organizational customers.
D) list the suppliers who serve the market.
E) segment by country or region-looking at demographic, cultural, and other characteristics.
29) A detailed customer database, containing past purchases and other segmenting information, is used to focus marketing efforts on individual customers in a: ______. 29) ______
A) Clustering management system.
B) Customer relationship management system.
C) Diversification management system.
D) Product differentiation matrix.
E) Product positioning matrix.
30) "Good" market segments are those that are ______. 30) ______
A) heterogeneous within
B) homogeneous between
C) international in nature
D) substantial all the time
E) operational and substantial
31) A product-market definition should include: 31) ______
A) product type.
B) geographic area.
C) customer needs.
D) customer types.
E) All of these alternatives are correct.
32) Which if the following describes a product-market most accurately? 32) ______
A) Exchanges are based on barter rather than money.
B) One seller has a patent for a superior product and other firms try to imitate the leader the best they can.
C) A market in which no intermediaries operate.
D) All of the customers want the same product but will consider a substitute if their preferred brand is not available.
E) Competing sellers offer physically or conceptually similar products.
33) Which of the following statements about positioning is FALSE?
Positioning techniques: 33) ______
A) require a firm to collect data about consumer perceptions of products.
B) typically rely on a "product space" diagram to show the relationship among various products.
C) position products on a graph based on price level and quantity demanded.
D) are sometimes called "perceptual mapping" techniques.
E) may use information about consumers' "ideal" products, so that the preferences of different segments of consumers can be considered.
34) Which of the following is a DEMOGRAPHIC segmenting dimension? 34) ______
A) Benefits sought
B) Type of problem solving
C) Family life cycle
D) Rate of use
E) Brand familiarity
35) Regarding segmenting, as opposed to combining: 35) ______
A) Segmenting limits a firm to smaller sales potential and lower profits.
B) Segmenters try to satisfy consumers "very well" instead of "pretty well."
C) Segmenting is usually a riskier approach than combining.
D) A segmenter with limited resources may have to use the multiple target market approach instead of the single target market approach.
E) All of these alternatives are true.
36) When segmenting broad product-markets, cost considerations tend to ______. 36) ______
A) to be unimportant as long as the segmenting dimensions are operational.
B) dissuade segmenters from exploring other variables in the market
C) to lead to more aggregating.
D) to encourage managers to disregard the criterion that a product-market segment should be substantial.
E) to lead to a large number of small, but very homogeneous, product-market segments.
37) Which is the first step in market segmentation? 37) ______
A) Evaluating market segments to determine if they are large enough.
B) Finding one or two demographic characteristics to divide up the whole mass market.
C) Naming a broad product-market of interest to the firm.
D) Clustering people with similar needs into a market segment.
E) None of these alternatives is the first step in market segmentation.
38) Which of the following is a BEHAVIORAL segmenting dimension? 38) ______
B) Region of the world or country
39) To understand the narrowing-down process, it's useful for mangers to think in terms of a ______ market and a ______ market. 39) ______
A) risky; certain
B) generic; product
C) buyer's; seller's
D) primary; secondary
E) goods; services
40) How customers think about the various brands in a market can be graphically represented and tracked through ______. 40) ______
41) "Good" market segments are those which are: 41) ______
A) heterogeneous between.
C) homogeneous within.
E) All of these choices are correct.
42) When a firm develops a marketing mix for teenage boys which is different from its marketing mix for teenage girls, which target market approach is it using? 42) ______
43) ______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes. 43) ______
A) Mass marketing
B) Strategic planning
C) Market segmentation
E) Market positioning
44) Manufacturer, service provider, government agency, wholesaler, etc. are designations used to segment business and organizational markets according to ______________. 44) ______
A) product use
B) buying situation
C) type of customer
E) kind of relationship
45) A variant of the clustering approach relies on ____, where the seller adjusts the marketing effort with information from a database with customer information. 45) ______
A) data warehouse management
B) social audit
C) customer relationship management
D) cluster sampling
E) corporate governance
46) Which of the following is a consumer market demographic dimension? 46) ______
E) All of these are examples of a consumer market demographic dimension
47) A market-oriented strategy planner applies the ______________ target market approach. 47) ______
A) multiple B) combined
C) Any of these could be true. D) single
48) The process of marketing strategy planning is about ______. 48) ______
A) figuring out how to offer products at the lowest possible price
B) choosing the most profitable market opportunity, regardless of the firm's current abilities and resources
C) narrowing down possible market opportunities to the most attractive ones
D) identifying as many market opportunities as can be imagined
E) creating products that managers like
49) A market in which sellers offer various, often diverse, ways of satisfying needs is called a ______ market. 49) ______
A) relevant B) general C) generic D) product E) diverse
50) Which of the following statements about the combined target market approach is True? 50) ______
A) Combiners may fall victim to an innovative segmenter that offers a more attractive marketing mix to a segment of the combined target market.
B) Combiners feel that two or more segments are similar enough that-together-they can be treated as one large target market.
C) Combiners try to extend their basic offering to satisfy customers from multiple segments with a single marketing mix.
D) All of these statements about the combined target market approach are true.
51) A ______ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs. 51) ______
A) generic market
C) standard market
D) global market
E) target market
52) ______ refers to how customers think about proposed or present brands in a market. 52) ______
53) Which of the following product-market "names" refers to where a firm competes, or plans to compete, for customers? 53) ______
A) Customer types
B) Warranty period
C) Product type
D) User Needs
E) Geographic area
54) Benefits of focusing on a specific target market (with the aid of marketing segmentation) include all the following except: 54) ______
A) Managers will gain a clear, shared vision for how to proceed with marketing mix decisions.
B) Marketers can finetune their marketing mixes, thus providing superior value to customers.
C) Managers can identify the best technology for improving production methods.
D) Marketers can build a competitive advantage by effectively meeting customers' needs.
E) Customers will view the firm's offerings as uniquely suited to their preferences and needs.
55) The ultimate in personalization occurs when ______. 55) ______
A) targeting a segment of one
B) creating opportunities in niche markets
C) offering extended warranties
D) identifying generic markets
E) merging multiple submarkets
56) A "market" consists of: 56) ______
A) customers who are willing to exchange something of value.
B) sellers offering various ways of satisfying customer needs.
C) a group of potential customers with similar needs.
D) all of these are correct.
57) Which of the following offers a firm the greatest potential for profit? 57) ______
A) The single target market approach
B) Any of these-depending on the situation
C) Mass marketing
D) The combined target market approach
E) The multiple target market approach
58) Saying that a good market segment should be "heterogeneous between" means that the consumers in ______. 58) ______
A) a market segment should be as different as possible with respect to their likely responses to marketing mix variables and their segmenting dimensions
B) different segments should be as different as possible with respect to their likely responses to marketing mix variables and their segmenting dimensions
C) different segments should be as similar as possible with respect to their likely responses to marketing mix variables and their segmenting dimensions
D) a market segment should be as similar as possible with respect to their likely responses to marketing mix variables and their segmenting dimensions
E) the segmenting dimensions should be useful for identifying different customers and deciding on marketing mix variables
59) Segmenting in international markets can be more challenging than segmenting in domestic markets because ______. 59) ______
A) profit is the balancing point that determines the marketing mix. the markets are homogenous in between and heterogeneous within
B) there is often more data available about key segmenting dimensions
C) critical data is often less available and less dependable
D) there is less diversity in the key segmenting dimensions
60) "Too much" aggregating in market segmenting ______. 60) ______
A) always tends to make the segments heterogeneous
B) usually makes segments more homogeneous
C) leaves the firm vulnerable to competitors
D) ignores the criterion that product-market segments should be substantial
E) is usually not a very serious error because it results in economies of scale
61) According to the text, segmenting should be viewed as a(n) ______________ process. 61) ______
A) "clustering" or aggregating
C) mechanical, nonjudgmental
E) "breaking apart" or disaggregating
62) When Procter and Gamble offers both Pantene and Vidal Sassoon shampoos to its customers, which target market approach is Procter and Gamble using? 62) ______
63) ______ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes. 63) ______
A) Market positioning
B) Mass marketing
C) Market segmentation
E) Strategic planning
64) ______________ is a marketing management aid that refers to how customers think about proposed and/or present brands in a market. 64) ______
A) Market scanning
C) Customer relationship management (CRM)
D) Brand familiarity
E) Market segmentation
65) Positioning maps are based on ______. 65) ______
A) the opinions of the marketing managers
B) the prices of competing products
C) customers' perceptions of products
D) the actual objective characteristics of products
E) the potential places where a product may be sold and purchased
66) ______________segmenting dimensions are those which actually affect a person's purchase of a specific product type or brand in a product-market. 66) ______
67) The process of naming broad product-markets and then segmenting them in order to select target markets and develop suitable marketing mixes is called: 67) ______
A) Market pioneering.
B) Market research.
C) Market development.
D) Market penetration.
E) Market segmentation.
68) Electro Technologies, Inc. (ETI) has limited capital and wants to reduce the risk of competitors taking customers if it invests in a new product-market. Its broad product-market consists of three reasonably distinct submarkets. To identify a target market, ETI should probably focus on using the __________ approach. 68) ______
A) single target market
B) combined target market
C) multiple target market
D) mass marketing
E) none of these is a good choice for Electro Technologies.
69) Which of the following segmenting dimensions probably would be LEAST LIKELY to result in segments that would meet the criteria that product-market segments should be "operational"? 69) ______
B) Geographic region
C) Family size
E) Income level
70) The first step in market segmentation should be ______. 70) ______
A) defining some broad product-markets where you may be able to operate profitably
B) evaluating what segment(s) you currently serve
C) deciding what new product you could develop
D) finding a demographic group likely to use your products
E) listing features of your current products.
71) ____ dimensions actually affect the customer's purchase of a specific product or brand in a product-market. 71) ______
72) Saying that a "good" product-market segment should be substantial means that ______. 72) ______
A) the company does not have to worry about substantial competition for a long time
B) it should be large enough to be profitable
C) people should have substantially different reactions to marketing mix variables
D) people in different market segments should be as different as possible
E) the product and its offerings are substantial in nature
73) ______________ segmenting dimensions help decide whether a person might be a potential customer-but not which specific products or brands that person might buy. 73) ______
74) Which of the following is not a valid criterion of a "good" market segment? 74) ______
A) Heterogeneous between
B) Homogeneous within
75) Tom and Sally Jones are preparing to purchase a new car. He currently has a Toyota Camry and she has a Honda Accord. They now have two children under age 5, so they plan to trade in Sally's car to purchase a minivan. Sally and Tom decided on a Honda Odyssey because Sally is familiar with Hondas and thinks they are very reliable. In this purchase situation, Tom and Sally's family life cycle stage is a _____________ segmenting dimension, and the benefit Sally seeks (reliability) is a _____________ segmenting dimension. 75) ______
A) demographic; behavioral
B) geographic; behavioral
C) geographic; demographic
D) demographic; geographic
E) behavioral; demographic
76) A ______ is a relatively homogeneous group of customers who will respond to a marketing mix in a similar way. 76) ______
A) generic market
B) market network
C) market grid
D) market segment
E) consumer network
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