Test Bank Marketing Exam 2
Market ______ evaluates each market segment's attractiveness and selects one or
more segments to serve - Answers -targeting
The step in designing a customer value-driven marketing strategy in which a company
divides a market into distinct groups of buyers is known as market _____ - Answers -
segmentation
The process of evaluating each market segment's attractiveness and selecting one or
more market segments to enter is called ______ - Answers -market targeting
What is the purpose of differentiation? - Answers -To create superior customer value
Which of the following statements about segmentation is true? - Answers -Different
segments might require different marketing strategies or mixes
What is positioning? - Answers -Arranging for a product to occupy a clear, distinctive,
and desirable place relative to competing products in the minds of target consumers
______ segmentation divides buyers into different segments based on lifestyle or
personality characteristics - Answers -Psychographic
_____ segmentation divides buyers into segments based on their knowledge, attitudes,
uses, or responses to a product. - Answers -Behavioral
Toothpastes claim they "whiten teeth," "fight bad breath," and "reduce plaque." Which
base of segmentation is being used in this example? - Answers -Benefits sought
Which of the following statements regarding segmentation is correct? - Answers -
Consumer and business marketers use many similar variables, but business marketers
use additional variables to segment their markets.
When marketers target segments such as sports fans, do-it-yourselfers, commuters,
and wine enthusiasts, which base of segmentation are they using? - Answers -
Psychographic segmentation
If men and women respond similarly to the same marketing mix, they do not constitute
different segments. Gender would not be effective in this example because the segment
is not ________. - Answers -differentiable
Using a(n) __________ marketing strategy, a firm might decide to ignore market
segment differences. - Answers -undifferentiated
,Instead of going after a small share of a large market, a firm goes after a large share of
a smaller niche segment. This type of marketing strategy is known as __________. -
Answers -concentrated marketing
A colleague wants to evaluate the attractiveness of a particular market segment. Which
of the following would be good advice for your colleague? - Answers -Carefully consider
the degree of competition and ease of entry into the segment.
Anythinglefthanded.com.uk only sells products designed for left-handed people. Which
targeting strategy is it using? - Answers -Concentrated marketing
On the My M&Ms Web site, users 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 here? -
Answers -Individual marketing
One important consideration in using a differentiated targeting strategy is that
________. - Answers -it can increase costs
Amazon and GEICO set themselves apart with their smooth-functioning direct delivery
strategy referred to as __________ differentiation. - Answers -channel
The winning value proposition by discount stores such as Walmart and Best Buy can be
categorized as __________. - Answers -the same for less
A company can differentiate itself from competitors using symbols such as McDonald's
golden arches, Twitter's bird, and the Nike swoosh. Which type of differentiation is this?
- Answers -Image differentiation
The Westin Stamford Hotel in Singapore failed when it once advertised itself as the
world's tallest hotel. This difference was not worth establishing because it did not satisfy
which of the following criteria? - Answers -Important
What are perceptual positioning maps used for? - Answers -To show consumer
perceptions of different brands on important buying dimensions
Which value proposition is difficult to sustain in the long run? - Answers -More for less
Amazon and GEICO set themselves apart with their smooth-functioning direct delivery
strategy referred to as __________ differentiation. - Answers -channel
Which of the following forms of products are considered as services? - Answers -Airline
travel
, Blood donations to the Red Cross are considered __________ products. - Answers -
unsought
Which of the following correctly defines a product? - Answers -A product is anything
offered to a market that might satisfy a need or want.
Charles Revson started Revlon. He once said "We sell hope." Revson was defining the
______ of Revlon cosmetics. - Answers -core customer value
Manny is willing to exert special effort to find a valuable and rare 1960 baseball card
featuring the famous New York Yankee, Mickey Mantle. This baseball card would be
classified as a(n) ______ product. - Answers -specialty
Materials and parts, capital items, and supplies are services or groups of _____
products. - Answers -industrial
Freedom from defects and consistency in delivering a targeted level of performance is
an attribute of product's __________. - Answers -conformance quality
__________ helps the seller to segment markets. - Answers -branding
In determining product quality, what are the two dimensions of quality marketers must
decide upon? - Answers -Level and consistency
When a company lengthens a product line by adding more items within that line's
current range, it is ________. - Answers -filling the file
Which of the following statements regarding the important decisions in the development
and marketing of individual products is correct? - Answers -Product attributes that
communicate and deliver benefits to the consumer include quality, features, style, and
design
If a company adds a new product line to its existing portfolio, it has increased its
_________. - Answers -product mix width
__________ means that the quality of services depends on who provides them as well
as when, where, and how they are provided. - Answers -service variability
Which of the following is not considered one of the links in the service profit chain?
Inseparability
Intangibility
Variability
Perishability
Tangibility - Answers -Buyer-seller interaction
Market ______ evaluates each market segment's attractiveness and selects one or
more segments to serve - Answers -targeting
The step in designing a customer value-driven marketing strategy in which a company
divides a market into distinct groups of buyers is known as market _____ - Answers -
segmentation
The process of evaluating each market segment's attractiveness and selecting one or
more market segments to enter is called ______ - Answers -market targeting
What is the purpose of differentiation? - Answers -To create superior customer value
Which of the following statements about segmentation is true? - Answers -Different
segments might require different marketing strategies or mixes
What is positioning? - Answers -Arranging for a product to occupy a clear, distinctive,
and desirable place relative to competing products in the minds of target consumers
______ segmentation divides buyers into different segments based on lifestyle or
personality characteristics - Answers -Psychographic
_____ segmentation divides buyers into segments based on their knowledge, attitudes,
uses, or responses to a product. - Answers -Behavioral
Toothpastes claim they "whiten teeth," "fight bad breath," and "reduce plaque." Which
base of segmentation is being used in this example? - Answers -Benefits sought
Which of the following statements regarding segmentation is correct? - Answers -
Consumer and business marketers use many similar variables, but business marketers
use additional variables to segment their markets.
When marketers target segments such as sports fans, do-it-yourselfers, commuters,
and wine enthusiasts, which base of segmentation are they using? - Answers -
Psychographic segmentation
If men and women respond similarly to the same marketing mix, they do not constitute
different segments. Gender would not be effective in this example because the segment
is not ________. - Answers -differentiable
Using a(n) __________ marketing strategy, a firm might decide to ignore market
segment differences. - Answers -undifferentiated
,Instead of going after a small share of a large market, a firm goes after a large share of
a smaller niche segment. This type of marketing strategy is known as __________. -
Answers -concentrated marketing
A colleague wants to evaluate the attractiveness of a particular market segment. Which
of the following would be good advice for your colleague? - Answers -Carefully consider
the degree of competition and ease of entry into the segment.
Anythinglefthanded.com.uk only sells products designed for left-handed people. Which
targeting strategy is it using? - Answers -Concentrated marketing
On the My M&Ms Web site, users 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 here? -
Answers -Individual marketing
One important consideration in using a differentiated targeting strategy is that
________. - Answers -it can increase costs
Amazon and GEICO set themselves apart with their smooth-functioning direct delivery
strategy referred to as __________ differentiation. - Answers -channel
The winning value proposition by discount stores such as Walmart and Best Buy can be
categorized as __________. - Answers -the same for less
A company can differentiate itself from competitors using symbols such as McDonald's
golden arches, Twitter's bird, and the Nike swoosh. Which type of differentiation is this?
- Answers -Image differentiation
The Westin Stamford Hotel in Singapore failed when it once advertised itself as the
world's tallest hotel. This difference was not worth establishing because it did not satisfy
which of the following criteria? - Answers -Important
What are perceptual positioning maps used for? - Answers -To show consumer
perceptions of different brands on important buying dimensions
Which value proposition is difficult to sustain in the long run? - Answers -More for less
Amazon and GEICO set themselves apart with their smooth-functioning direct delivery
strategy referred to as __________ differentiation. - Answers -channel
Which of the following forms of products are considered as services? - Answers -Airline
travel
, Blood donations to the Red Cross are considered __________ products. - Answers -
unsought
Which of the following correctly defines a product? - Answers -A product is anything
offered to a market that might satisfy a need or want.
Charles Revson started Revlon. He once said "We sell hope." Revson was defining the
______ of Revlon cosmetics. - Answers -core customer value
Manny is willing to exert special effort to find a valuable and rare 1960 baseball card
featuring the famous New York Yankee, Mickey Mantle. This baseball card would be
classified as a(n) ______ product. - Answers -specialty
Materials and parts, capital items, and supplies are services or groups of _____
products. - Answers -industrial
Freedom from defects and consistency in delivering a targeted level of performance is
an attribute of product's __________. - Answers -conformance quality
__________ helps the seller to segment markets. - Answers -branding
In determining product quality, what are the two dimensions of quality marketers must
decide upon? - Answers -Level and consistency
When a company lengthens a product line by adding more items within that line's
current range, it is ________. - Answers -filling the file
Which of the following statements regarding the important decisions in the development
and marketing of individual products is correct? - Answers -Product attributes that
communicate and deliver benefits to the consumer include quality, features, style, and
design
If a company adds a new product line to its existing portfolio, it has increased its
_________. - Answers -product mix width
__________ means that the quality of services depends on who provides them as well
as when, where, and how they are provided. - Answers -service variability
Which of the following is not considered one of the links in the service profit chain?
Inseparability
Intangibility
Variability
Perishability
Tangibility - Answers -Buyer-seller interaction
