MAR3023 CHAPTER 9: STP EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS GRADED A++
Unilever offers its Dove brand of body wash to several groups: one geared
toward women, one for men, and one for babies. By taking the overall market and
dividing it into smaller, similar groups, Unilever is engaged in ______.
A. a situation analysis
B. a SWOT analysis
C. market segmentation
a business portfolio analysis
C. market segmentation
Market segments are made up of ______ that are relatively similar to one another.
A. existing products
B. advertising campaigns
C. retail outlets
D. prospective buyers
D. prospective buyers
A product differentiation strategy should achieve which of the following?
A. It should create a product that can be protected by patent.
B. It should help consumers perceive the product as being different and better
than competing ones.
C. It should create a new product or brand that is unrecognizable to former
,customers.
D. It should create a new and improved product with a big enough change to be
worth the increased price.
B. It should help consumers perceive the product as being different and better than
competing ones.
A business firm should ______ its markets so it can respond more effectively to
the needs of its potential buyers, which should result in increased sales and
profits.
A. disregard
B. combine
C. segment
D. rank
C. segment
After a marketer has identified a group with specific needs and benefits, the
marketer should then ______.
A. develop specific marketing actions that will satisfy that groups' particular
needs
B. try to increase the size of the group by highlighting the groups' specific need
C. attempt to persuade the group to adopt a different set of needs that aligns with
the company's product
D. assess whether or not the competition is already meeting the groups' needs
A. develop specific marketing actions that will satisfy that groups' particular needs
,Aggregating prospective buyers into groups that have similar needs and will
respond similarly to a marketing action is a process known as ______.
A. diversification
B. strategic marketing
C. SWOT analysis
D. market segmentation
D. market segmentation
After Zappos.com identified the needs of its target customer segment, what two
marketing actions did the company take to fulfill the needs of its target
customer?
A. It offered overnight delivery.
B. It offered a huge inventory of shoes.
C. It offered the option of returning shoes to its retail stores.
D. It started a customer loyalty program.
A. It offered overnight delivery.
B. It offered a huge inventory of shoes.
Market segments are the relatively ______ groups of prospective buyers that
result from the market segmentation process.
A. homogenous
B. loyal
C. affluent
D. stable
A. homogenous
, A market-product grid shows various product offerings and
A. segments of prospective buyers.
B. the competitive firms that sell them.
C. a demand estimate for each.
D. the locations of purchase for each.
A. segments of prospective buyers.
The ______ strategy involves a firm using different marketing mix activities to
help consumers perceive the product as being different and better than
competing products.
A. specialized offering
B. market segmentation
C. product differentiation
D. perceptual mapping
C. product differentiation
When expenses are greater than the potentially increased sales from
segmentation, a firm should ______.
A. discontinue the product in question
B. not attempt to segment its market
C. consider mass customization
D. segment only on the basis of simple demographics like gender
B. not attempt to segment its market
The fundamental reason a business firm engages in market segmentation is to
______.
WITH COMPLETE SOLUTIONS GRADED A++
Unilever offers its Dove brand of body wash to several groups: one geared
toward women, one for men, and one for babies. By taking the overall market and
dividing it into smaller, similar groups, Unilever is engaged in ______.
A. a situation analysis
B. a SWOT analysis
C. market segmentation
a business portfolio analysis
C. market segmentation
Market segments are made up of ______ that are relatively similar to one another.
A. existing products
B. advertising campaigns
C. retail outlets
D. prospective buyers
D. prospective buyers
A product differentiation strategy should achieve which of the following?
A. It should create a product that can be protected by patent.
B. It should help consumers perceive the product as being different and better
than competing ones.
C. It should create a new product or brand that is unrecognizable to former
,customers.
D. It should create a new and improved product with a big enough change to be
worth the increased price.
B. It should help consumers perceive the product as being different and better than
competing ones.
A business firm should ______ its markets so it can respond more effectively to
the needs of its potential buyers, which should result in increased sales and
profits.
A. disregard
B. combine
C. segment
D. rank
C. segment
After a marketer has identified a group with specific needs and benefits, the
marketer should then ______.
A. develop specific marketing actions that will satisfy that groups' particular
needs
B. try to increase the size of the group by highlighting the groups' specific need
C. attempt to persuade the group to adopt a different set of needs that aligns with
the company's product
D. assess whether or not the competition is already meeting the groups' needs
A. develop specific marketing actions that will satisfy that groups' particular needs
,Aggregating prospective buyers into groups that have similar needs and will
respond similarly to a marketing action is a process known as ______.
A. diversification
B. strategic marketing
C. SWOT analysis
D. market segmentation
D. market segmentation
After Zappos.com identified the needs of its target customer segment, what two
marketing actions did the company take to fulfill the needs of its target
customer?
A. It offered overnight delivery.
B. It offered a huge inventory of shoes.
C. It offered the option of returning shoes to its retail stores.
D. It started a customer loyalty program.
A. It offered overnight delivery.
B. It offered a huge inventory of shoes.
Market segments are the relatively ______ groups of prospective buyers that
result from the market segmentation process.
A. homogenous
B. loyal
C. affluent
D. stable
A. homogenous
, A market-product grid shows various product offerings and
A. segments of prospective buyers.
B. the competitive firms that sell them.
C. a demand estimate for each.
D. the locations of purchase for each.
A. segments of prospective buyers.
The ______ strategy involves a firm using different marketing mix activities to
help consumers perceive the product as being different and better than
competing products.
A. specialized offering
B. market segmentation
C. product differentiation
D. perceptual mapping
C. product differentiation
When expenses are greater than the potentially increased sales from
segmentation, a firm should ______.
A. discontinue the product in question
B. not attempt to segment its market
C. consider mass customization
D. segment only on the basis of simple demographics like gender
B. not attempt to segment its market
The fundamental reason a business firm engages in market segmentation is to
______.
