MKTG 201 ALL QUIZZES QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION.
Market segmentation is the process of grouping customers into relatively homogeneous sets or
segments such that customers within a segment are similar to one another in:
A. Age and psychographics
B. Family and cultural situations
C. Their frequency of purchase
D. The way they respond to the marketing effort directed torward them
E. Geographic location - (ANSWER)D. The way they respond to the marketing effort directed torward
them
Landyachtz recently launched a new Slide Glove for longboarders--Ly Leather Slide Gloves. The local
market segment consists of a few longboarders in Provo Canyon. Retailers in the Utah market are
worried that the segment size is not large enough to make this product profitable. Which characteristic
of effective segmentation is lacking?
A. Accessible
B. Durable
C. Measureable
D. Substantial
E. Unique needs - (ANSWER)D. Substantial
Product positioning is:
A. The place a product occupies in the target customers' minds
B. Shelf size and location in major retail chains--grocery and department stores
C. Geographic segmentation, often within major metropolitan and suburban areas
D. A careful analysis of cross tabulations
E. What marketers do to a product - (ANSWER)A. The place a product occupies in the target customers'
minds
Perceptual maps show the judgments customers make regarding the performance of a brand's features
and benefits. Gap analysis extends the perceptual maps method by asking customers to make
judgments regarding:
,MKTG 201 ALL QUIZZES QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION.
A. Cultural differences among consumers
B. The performance of competitive brands
C. Psychological differences among consumers
D. The importance of a brand's features and benefits to the buying decision
E. The performance of external forces in the environment - (ANSWER)D. The importance of a brand's
features and benefits to the buying decision
Why dosen't "me too" positioning work as a value positioning strategy?
A. The positioning approach does not give consumers a reason to change
B. Competitors are just too difficult to copy
C. Competitors may have lower cost structures
D. Imitation is the sincerest form of flattery
E. Customers want consistency among competitors - (ANSWER)A. The positioning approach does not
give consumers a reason to change
Honda is a Japanese public multinational conglomerate corporation primarily known as a manufacturer
of automobiles, aircraft, motorcycles, scooters, generators, water pumps, lawn and garden equipment,
rotary tillers, outboard motors, robotics, and small engines. Closely related products that compete in the
same general product category (e.g., automobiles and trucks)--Accord, Civic, Crosstour, CR-V, CR-Z, FCX
Clarity, Fit, Insight, Odyssey, Pilot, and Ridgeline--represent a:
A. Product item
B. Product mix
C. Product life cycle
D. Product line
E. Production promotion - (ANSWER)D. Product line
Considering a product's competitive angle, _______________ is about finding significant pain points that
are personally relevant to the target market while _______________ is about demonstrating product-
solving benefits.
A. Quantifiable Support, Unique Product Claim
, MKTG 201 ALL QUIZZES QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION.
B. Reason to Believe, Dominate Situations
C. Dominate Situations, Quantifiable Support
D. Need to Believe, Reason to Believe
E. Unique Product Claim, Need to Believe - (ANSWER)D. Need to Believe, Reason to Believe
Products travel through life cycles starting with introduction stage and finishing with maturity stage. In
which stage of the product life cycle do marketing managers seek to build product awareness and
consumer experience?
A. Introduction
B. Growth
C. Maturity
D. Decline
E. Obsolete - (ANSWER)A. Introduction
The most critical stage of the new product development process is the concept testing stage because:
A. Type I and Type II errors can be estimated
B. Profit projections, including sales forecasts and costs, are estimated
C. This is the first time the idea is tested with potential customers
D. Product development begins in earnest
E. All elements of the marketing mix are tested - (ANSWER)C. This is the first time the idea is tested with
potential customers
Net Promoter Score (NPS) enables businesses to measure progress of their brand. NPS is the difference
between:
A. Competitor brands and company brands
B. National brands and store brands
C. The percentage of brand promoters and the percentage of brand detractors
D. The percentage of swing group members and the percentage of swing group non-members
Market segmentation is the process of grouping customers into relatively homogeneous sets or
segments such that customers within a segment are similar to one another in:
A. Age and psychographics
B. Family and cultural situations
C. Their frequency of purchase
D. The way they respond to the marketing effort directed torward them
E. Geographic location - (ANSWER)D. The way they respond to the marketing effort directed torward
them
Landyachtz recently launched a new Slide Glove for longboarders--Ly Leather Slide Gloves. The local
market segment consists of a few longboarders in Provo Canyon. Retailers in the Utah market are
worried that the segment size is not large enough to make this product profitable. Which characteristic
of effective segmentation is lacking?
A. Accessible
B. Durable
C. Measureable
D. Substantial
E. Unique needs - (ANSWER)D. Substantial
Product positioning is:
A. The place a product occupies in the target customers' minds
B. Shelf size and location in major retail chains--grocery and department stores
C. Geographic segmentation, often within major metropolitan and suburban areas
D. A careful analysis of cross tabulations
E. What marketers do to a product - (ANSWER)A. The place a product occupies in the target customers'
minds
Perceptual maps show the judgments customers make regarding the performance of a brand's features
and benefits. Gap analysis extends the perceptual maps method by asking customers to make
judgments regarding:
,MKTG 201 ALL QUIZZES QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION.
A. Cultural differences among consumers
B. The performance of competitive brands
C. Psychological differences among consumers
D. The importance of a brand's features and benefits to the buying decision
E. The performance of external forces in the environment - (ANSWER)D. The importance of a brand's
features and benefits to the buying decision
Why dosen't "me too" positioning work as a value positioning strategy?
A. The positioning approach does not give consumers a reason to change
B. Competitors are just too difficult to copy
C. Competitors may have lower cost structures
D. Imitation is the sincerest form of flattery
E. Customers want consistency among competitors - (ANSWER)A. The positioning approach does not
give consumers a reason to change
Honda is a Japanese public multinational conglomerate corporation primarily known as a manufacturer
of automobiles, aircraft, motorcycles, scooters, generators, water pumps, lawn and garden equipment,
rotary tillers, outboard motors, robotics, and small engines. Closely related products that compete in the
same general product category (e.g., automobiles and trucks)--Accord, Civic, Crosstour, CR-V, CR-Z, FCX
Clarity, Fit, Insight, Odyssey, Pilot, and Ridgeline--represent a:
A. Product item
B. Product mix
C. Product life cycle
D. Product line
E. Production promotion - (ANSWER)D. Product line
Considering a product's competitive angle, _______________ is about finding significant pain points that
are personally relevant to the target market while _______________ is about demonstrating product-
solving benefits.
A. Quantifiable Support, Unique Product Claim
, MKTG 201 ALL QUIZZES QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION.
B. Reason to Believe, Dominate Situations
C. Dominate Situations, Quantifiable Support
D. Need to Believe, Reason to Believe
E. Unique Product Claim, Need to Believe - (ANSWER)D. Need to Believe, Reason to Believe
Products travel through life cycles starting with introduction stage and finishing with maturity stage. In
which stage of the product life cycle do marketing managers seek to build product awareness and
consumer experience?
A. Introduction
B. Growth
C. Maturity
D. Decline
E. Obsolete - (ANSWER)A. Introduction
The most critical stage of the new product development process is the concept testing stage because:
A. Type I and Type II errors can be estimated
B. Profit projections, including sales forecasts and costs, are estimated
C. This is the first time the idea is tested with potential customers
D. Product development begins in earnest
E. All elements of the marketing mix are tested - (ANSWER)C. This is the first time the idea is tested with
potential customers
Net Promoter Score (NPS) enables businesses to measure progress of their brand. NPS is the difference
between:
A. Competitor brands and company brands
B. National brands and store brands
C. The percentage of brand promoters and the percentage of brand detractors
D. The percentage of swing group members and the percentage of swing group non-members
