Question 1

Which of the following would most likely be used in the process of developing and implementing a positioning strategy?
A) a perceptual map
B) a geographic information system
C) NAICS
D) PRIZM
E) VALS™

Accepted Answer

A perceptual map is a visual tool that helps in identifying the position of a brand or product in the minds of the target consumers relative to its competitors. It is an essential tool for developing and implementing a positioning strategy. B, C, D, and E are not directly related to the process of developing and implementing a positioning strategy.

Question 2

A product's position is based on important attributes as perceived by ________.
A) suppliers
B) competitors
C) channel members
D) target consumers
E) resellers

Accepted Answer

The position of a product is based on important attributes as perceived by the target consumers, or the individuals who are the primary purchasers or users of the product. Suppliers may be involved in providing materials or components for the product, competitors may offer similar products, channel members may distribute the product, and resellers may be involved in selling the product to end consumers, but their perceptions of important attributes do not ultimately determine the product's position in the market.

Question 3

Explain how a computer company might use mass customization to meet the needs of its customers.

Accepted Answer

The answer of Explain how a computer company might use...

Question 4

The cosmetics giant L'Oreal offers several product lines at a variety of prices. It targets the luxury market with its brand Helena Rubinstein, while less expensive offerings such as Elseve are targeted to large department stores and discounters. What type of targeting strategy is this? Explain your answer.

Accepted Answer

The answer of The cosmetics giant L'Oreal offers several product...

Question 5

________ means developing a marketing strategy aimed at influencing how a particular market segment perceives a good or service in comparison to the competition.
A) Concentrated targeting
B) Positioning
C) Benefit segmentation
D) Mass customization
E) Customization

Accepted Answer

Positioning refers to the process of developing a marketing strategy aimed at influencing how a particular market segment perceives a good or service in comparison to the competition. Concentrated targeting refers to focusing marketing efforts on a specific segment of the market, while benefit segmentation involves dividing a market into groups based on the benefits that consumers are seeking. Mass customization and customization refer to tailoring products or services to individual customers.

Question 6

Once a(n) ________ is defined, the next step in positioning is for marketers to finalize the marketing mix.
A) segmentation variable
B) competitive advantage
C) indirect competitor
D) direct competitor
E) concentrated target

Accepted Answer

Once a competitive advantage is defined, marketers can then determine how to position their product or service in the market and finalize the marketing mix. The other options do not necessarily lead directly to finalizing the marketing mix.

Question 7

A company that tries to modify its brand image to keep up with changing times is using a ________ strategy.
A) concentrated
B) repositioning
C) competitive advantage
D) personality
E) perceptual

Accepted Answer

Repositioning strategy involves changing a company's brand image to meet changing market conditions or target audience preferences. It involves rebranding, changing marketing tactics or communicating the value proposition differently.

Question 8

BMW allows customers to design their own vehicles from a set of options at BMW's website. What is this called?

Accepted Answer

The answer of BMW allows customers to design their own...

Question 9

The elements of the marketing mix must match the ________.
A) competitive advantage
B) perceptual map
C) selected segment
D) indirect competition
E) direct competition

Accepted Answer

The marketing mix elements (product, price, promotion, and place) should be tailored to match the needs and preferences of the selected segment. This ensures that the marketing strategy is directed towards the right audience, and the elements are aligned with the segment's preferences and expectations. The competitive advantage, perceptual map, direct, and indirect competition are also important considerations in developing a marketing strategy. However, they do not directly impact the matching of marketing mix elements.

Question 10

Marketers might use a perceptual map to identify a(n) ________, an unserved market segment that can represent an opportunity for a new product entry.
A) segment profile
B) neglected segment
C) segmentation variable
D) market fragment
E) usage occasion

Accepted Answer

A perceptual map can help identify segments that are currently not served or are underserved by existing products. These segments can represent an opportunity for a new product entry. Therefore, the best choice is B - neglected segment, as it directly refers to an untapped or underserved market that can be targeted by marketers.

Question 11

Which of the following would LEAST likely be included in a product's positioning statement?
A) the product's strongest competitors
B) the segment(s) to which the product is targeted
C) the product's most important differentiator
D) evidence supporting the most important claim made about the product
E) the specific value of the product

Accepted Answer

While it is important to understand the product's competition and how it stands out, the positioning statement should focus on the product itself and what makes it unique. The competitors would not be included in the actual statement but would be considered during the development of the statement.

Question 12

When McDonald's failed to realize that Applebee's and Chili's were providing products that met consumers' needs for a quick, tasty, and convenient meal, McDonald's failed to consider its ________.
A) marketing mix
B) mass customization
C) direct competition
D) indirect competition
E) competitive advantage

Accepted Answer

McDonald's failed to consider its indirect competition, which includes businesses offering different products or services that satisfy the same consumer needs. In this case, Applebee's and Chili's, though not fast-food chains, were meeting the same needs for quick, tasty, and convenient meals, thus indirectly competing with McDonald's.

Question 13

A perceptual map is used to ________.
A) compare and contrast consumer psychographic segments
B) create consumer cross-tabulations for marketing research
C) locate consumers within a geographic information system
D) determine how consumers position products in relation to one another
E) identify the critical stage of the targeting process for the marketer

Accepted Answer

A perceptual map is a visual representation of how consumers perceive the positioning of different products or brands in the market. It helps marketers understand how consumers perceive their own product or brand in relation to their competitors and identify opportunities for differentiation.

Question 14

XYZ Computers, Inc., a business with limited resources, uses a concentrated targeting strategy. How might XYZ benefit from this?

Accepted Answer

The answer of XYZ Computers, Inc., a business with limited...

Question 15

Explain why correctly segmenting and then targeting consumers will help a company target its marketing dollars more effectively.

Accepted Answer

The answer of Explain why correctly segmenting and then targeting...

Question 16

Superior image, unique product features, and better service are all examples of ________.
A) brand personalities
B) brand positions
C) perceptual maps
D) competitive advantages
E) customer touchpoints

Accepted Answer

Competitive advantages refer to the unique qualities or features of a product or service that set it apart from competitors and make it more appealing to customers. The other options are not directly related to competitive advantages.

Question 17

Which of the listed choices is NOT a positioning task?
A) identifying a set of possible competitive advantages
B) surveying frequent users of the product
C) analyzing competitors' positions
D) finalizing the marketing mix
E) evaluating responses to the marketing mix

Accepted Answer

Surveying frequent users of the product is more related to market research and understanding customer needs rather than positioning, which involves defining how a product or brand is perceived in the market relative to competitors.

Question 18

The last step in developing a positioning strategy is to ________.
A) evaluate responses and modify as needed
B) identify segmentation variables
C) analyze the competitors' positions in the marketplace
D) describe a product with a competitive advantage
E) finalize the marketing mix

Accepted Answer

After developing a positioning strategy, it is important to evaluate responses from the targeted segment and modify the strategy accordingly. This ensures that the positioning strategy is effective in reaching and resonating with the intended audience.

Question 19

The first step in developing a positioning strategy is to ________.
A) set the marketing communications budget
B) identify segmentation variables
C) analyze competitors' positions in the marketplace
D) describe a product with a competitive advantage
E) create target markets

Accepted Answer

Analyzing competitors' positions in the marketplace is crucial as it helps in understanding the competitive landscape, identifying gaps or opportunities, and determining how a product or service can be uniquely positioned to meet customer needs and stand out from competitors.

Question 20

Saturn is "a different kind of company, different kind of a car;" the Hummer is "like nothing else." These statements indicate a firm's ________.
A) product portfolio
B) target markets
C) positioning
D) brand anthropomorphism
E) segmentation

Accepted Answer

These statements are examples of a firm's positioning strategy, which seeks to establish a distinct image or identity for a product or brand in the minds of consumers.

Quiz 7: Segmentation, Target Marketing, and Positioning

Which of the following would most likely be used in the process of developing and implementing a positioning strategy?

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

Explain how a computer company might use mass customization to meet the needs of its customers.

________ means developing a marketing strategy aimed at influencing how a particular market segment perceives a good or service in comparison to the competition.

Once a(n) ________ is defined, the next step in positioning is for marketers to finalize the marketing mix.

A company that tries to modify its brand image to keep up with changing times is using a ________ strategy.

BMW allows customers to design their own vehicles from a set of options at BMW's website. What is this called?

The elements of the marketing mix must match the ________.

Marketers might use a perceptual map to identify a(n) ________, an unserved market segment that can represent an opportunity for a new product entry.

Which of the following would LEAST likely be included in a product's positioning statement?

When McDonald's failed to realize that Applebee's and Chili's were providing products that met consumers' needs for a quick, tasty, and convenient meal, McDonald's failed to consider its ________.

A perceptual map is used to ________.

XYZ Computers, Inc., a business with limited resources, uses a concentrated targeting strategy. How might XYZ benefit from this?

Explain why correctly segmenting and then targeting consumers will help a company target its marketing dollars more effectively.

Superior image, unique product features, and better service are all examples of ________.

Which of the listed choices is NOT a positioning task?

The last step in developing a positioning strategy is to ________.

The first step in developing a positioning strategy is to ________.

Saturn is "a different kind of company, different kind of a car;" the Hummer is "like nothing else." These statements indicate a firm's ________.