Question 1

A marketer focuses on several commonalities among all consumers.This marketer appears to be engaging in _ .

Accepted Answer

The marketer is focusing on commonalities among all consumers, meaning they are not differentiating between various segments or targeting specific groups. This type of marketing, where there is no segmentation or targeting, is known as undifferentiated or mass marketing.

Question 2

When New Port Shipping uses segmented marketing,it targets several segments and designs separate offers for each one.This approach is called marketing.

Accepted Answer

New Port Shipping is targeting several segments and designing separate offers for each one. This approach is known as differentiated marketing, where a company targets multiple market segments with different marketing strategies and offerings tailored to each segment's specific needs and preferences. This helps the company to better meet the needs of different customers and achieve a competitive advantage.

Question 3

A product's position is based on important attributes as perceived by .

Accepted Answer

A product's position is based on how consumers perceive its important attributes, such as quality, price, and features. Managers, market conditions, suppliers, and competitors all play a role in the product's development and marketing strategy, but ultimately it is the consumer's perception that determines its position in the market.

Question 4

Which of the following is NOT one of the reasons a segment would be less attractive to a company?

Accepted Answer

A concentrated market is not inherently unattractive; it can indicate a focused target audience, whereas the other options represent competitive pressures or challenges.

Question 5

There are several different sports watches for cyclists.When compared to its competitors,the Bike Nashbar watch is the least expensive.The Acumen Basic is the only one designed for older cyclists who prefer a larger display.Sports Instrument is the most comfortable of all the available watches.This describes the _ of the three sports watches.

Accepted Answer

The answer of There are several different sports watches for...

Question 6

Most attempts to target children and minority groups provide to target customers.

Accepted Answer

Targeting children and minority groups can provide benefits, such as increased sales and brand loyalty. These groups often have unique needs and preferences that companies can cater to by creating tailored products and advertising campaigns. However, it is important for companies to do so in an ethical and responsible way, without exploiting or manipulating vulnerable populations.

Question 7

Target marketing sometimes generates controversy and concern.Issues usually involve the targeting of consumers with products.

Accepted Answer

Targeting vulnerable populations with potentially harmful products can raise ethical concerns and lead to negative consequences for the targeted consumers.

Question 8

Developing a strong position within several segments creates more total sales than marketing across all segments.

Accepted Answer

The answer of Developing a strong position within several segments...

Question 9

Which difficult- to- sustain positioning strategy attempts to deliver the "best- of- both"?

Accepted Answer

The answer of Which difficult- to- sustain positioning strategy attempts...

Question 10

The answer to the customer's question "Why should I buy your brand?" is found in the .

Accepted Answer

The value proposition clearly outlines the unique benefits and advantages of a brand, making it clear why customers should choose it over competitors.

Question 11

Markets can be segmented into groups of nonusers,ex- users,potential users,first- time users,and regular users of a product.This method of segmentation is called _.

Accepted Answer

The method of segmentation described in the question is called "user status" segmentation, as it is based on the different levels of experience that different consumers have with the product. The other options listed (benefit, behavior, loyalty status, and usage rates) refer to other methods of segmentation based on different criteria.

Question 12

When Positive Image,Inc.caters to clothing,cosmetics,and toiletries markets,it most likely uses which type of segmentation?

Accepted Answer

Positive Image Inc. is likely segmenting its markets based on the demographic variable of gender, as clothing, cosmetics, and toiletries are commonly marketed and targeted towards specific genders.

Question 13

Your firm has decided to localize its products and services to meet local market demands.A good approach to use would be _ segmentation.

Accepted Answer

Geographic segmentation involves dividing a market into different geographical units such as countries, regions, cities, etc. which have common needs and preferences. This approach allows the firm to customize its products and services according to the local market demands and preferences, enabling higher sales and profitability. Therefore, geographic segmentation is the best approach to use for localizing products and services.

Question 14

Which type of segmentation centers on the use of the word when,such as when consumers get the idea to buy,when they actually make their purchase,or when they use the purchased item?

Accepted Answer

The segmentation that centers on the use of the word "when" is occasion segmentation. It involves dividing the market based on specific occasions or events when consumers are likely to purchase a product or service. This could include things such as holidays, birthdays, weddings, or other special events. By targeting consumers based on these occasions, marketers can tailor their messages and offers to be more relevant and effective.

Question 15

When firms use symbols,colors,or characters to convey their personalities,they are using differentiation.

Accepted Answer

Using symbols, colors, or characters to convey a firm's personality is a way of creating a unique image that sets the company apart from its competitors. This is known as differentiation.

Question 16

The Jay Group hires better employees than the competition by conducting lengthy searches and interviews.Management also trains employees much better than competitors do.The Jay Group has gained a strong competitive advantage through which type of differentiation?

Accepted Answer

The Jay Group's competitive advantage is through differentiating themselves in the quality of their employees, indicating a focus on people.

Question 17

In general,a company should enter only segments in which it can and .

Accepted Answer

It is important for a company to enter segments in which it can offer superior value to its customers, as this is what will give it an advantage over competitors. By providing superior value, a company can differentiate itself from other players in the market and gain a foothold in the segment. Additionally, by focusing on segments where it can gain advantages over competitors, the company can increase its chances of success and generate higher profits over the long-term.

Question 18

A catalog retailer has identified African- American professionals between the ages of thirty- five and forty- five as the group of customers within the larger market that is a potential market for its products.The retailer plans to direct its marketing efforts toward this group of consumers.The retailer has identified a .

Accepted Answer

The catalog retailer has identified a specific group of consumers, African-American professionals between the ages of thirty-five and forty-five, as potential markets for its products. This group of consumers is the target market that the retailer plans to focus its marketing efforts towards.

Question 19

Superior Auto Sales,a chain of high- end used car dealerships,wants to sum up its company positioning and brand positioning in a formal way.Superior's management would use a .

Accepted Answer

A positioning statement is specifically designed to sum up a company's positioning and brand positioning in a formal way. A vision statement relates to the future goals of the company, a company statement is a general overview of the company's purpose, a mission statement outlines the company's overarching purpose and values, and a competitive statement focuses on how the company differentiates itself from its competitors.

Question 20

At one time Miller Beer was known as the "champagne of bottled beer." Unfortunately,Miller drinkers did not drink much beer.To increase sales,Miller was repositioned to attract the members of the middle working class.This segmentation approach is .

Accepted Answer

The repositioning of Miller Beer to attract the middle working class is based on psychographic segmentation, which involves targeting consumers based on their lifestyle, values, and social class.

Quiz 7: Customer-Driven Marketing Strategy: Creating Value for Target Customers