Question 1

General Motors uses multiple marketing mixes for its various divisions and focuses these marketing mixes on various segments of the automobile-purchasing market. General Motors uses

Accepted Answer

General Motors uses differentiated market segmentation, as it tailors its marketing mix to different segments of the automobile-purchasing market. This means that different marketing mixes are created for different groups of consumers based on factors such as their age, income level, and lifestyle. This approach allows General Motors to effectively target different customer segments and meet their specific needs and preferences.

Question 2

The effects of economic conditions on consumers' ability and willingness to buy would best be called ____ forces.

Accepted Answer

Economic conditions directly affect the financial capabilities of consumers, which in turn influence their willingness to buy. Therefore, economic forces are the most appropriate designation for this factor.

Question 3

Car manufacturers tend to use the ____ approach in choosing their target market.

Accepted Answer

Car manufacturers tend to use the differentiated approach in choosing their target market. This means that they segment the market based on different factors such as demographics, psychographics, and behavior, and then select one or more segments to target based on their unique needs and wants. This allows them to tailor their marketing mix and product offerings to better meet the specific needs of each segment, thereby increasing their chances of success in the market.

Question 4

Due to a recession in the United States and abroad, ski resorts have suffered from a lack of guests during the peak season. These ski resorts have felt a direct impact from ____ forces.

Accepted Answer

The sentence explicitly mentions a recession, which is an economic force that has led to a decrease in guests at ski resorts.

Question 5

When Target decides the number and locations of warehouses it needs to build and operate, it is addressing the ____ element of the marketing mix.

Accepted Answer

Distribution, also known as place, is the element of the marketing mix that deals with getting the product to the customer. This includes decisions about the number and locations of warehouses or other distribution centers necessary to ensure efficient delivery of the product to the target market. Therefore, Target's decision about the number and locations of warehouses relates to the distribution element of the marketing mix.

Question 6

Ikea furniture store promotes its furniture to its target market based on its customers' personality attributes and lifestyles. Therefore, it is segmenting the furniture market on which type of basis?

Accepted Answer

Psychographic segmentation is the process of dividing markets based on consumers' lifestyle, personality traits, values, interests, and attitudes. This approach is more effective than demographic and geographic segmentation because it allows companies to target customers based on their preferences, needs, and motivations for buying a specific product. In this case, Ikea is targeting customers based on their personality attributes and lifestyles, which reflects psychographic segmentation.

Question 7

The elements of the marketing mix are

Accepted Answer

The elements of the marketing mix are product, price, distribution (also known as place), and promotion. These are the four key factors that a business must consider when developing a marketing strategy. Merchandising, transportation, markets, and buyers/sellers may be related to these elements, but are not considered part of the marketing mix.

Question 8

Bags Unlimited is using a combination of advertising and personal selling to increase the sales of its purses, backpack, and computer bags. This activity involves the ____ ingredient of the marketing mix.

Accepted Answer

The combination of advertising and personal selling is a part of the promotional ingredient of the marketing mix, which involves all the activities used to communicate and promote the product to the target customers.

Question 9

When Pepsi decides to develop a new product, it creates the product itself, determines the price the new product will sell for, decides how to distribute the product to consumers, and develops a promotion campaign to inform the market of the new product. Pepsi has created a(n)

Accepted Answer

Pepsi has created a marketing mix, which includes the 4 Ps of marketing: product, price, place (distribution), and promotion.

Question 10

Bic ballpoint pens appeal to price-conscious consumers because of their affordability. Bic has segmented its market on a ____ basis.

Accepted Answer

Segmenting the market on a behavioristic basis involves dividing the market based on consumer behavior, such as their purchasing habits, usage rate, or response to a product, which in this case relates to consumers' sensitivity to price and seeking affordability.

Question 11

The ingredient of the marketing mix concerned with both base prices and various kinds of discounts is

Accepted Answer

Pricing is the ingredient of the marketing mix concerned with base prices and various kinds of discounts. It involves determining the appropriate price for a product or service considering factors such as production cost, competition, and customer demand. Pricing strategies may also involve offering discounts such as promotional discounts, volume discounts, or seasonal discounts to incentivize customers to purchase the product.

Question 12

The elements of the marketing mix are combined to

Accepted Answer

The primary purpose of the marketing mix is to satisfy the needs and preferences of the target market. The various elements of the marketing mix are combined to create a product, price, promotion, and distribution strategy that appeals to the target market and meets their needs. While the other options may be secondary benefits or considerations, the primary focus of the marketing mix is on satisfying the target market.

Question 13

The forces that make up the external marketing environment of a firm

Accepted Answer

The external marketing environment factors such as economic conditions, political and legal factors, social and cultural factors, technological advancements, and competitors are generally beyond the control of the firm. Therefore, the firm needs to strategize and adapt to these factors to survive and succeed in the market. The other choices in the options do not accurately reflect the forces that make up the external marketing environment of a firm.

Question 14

When KFC Corporation decides on brand names, package designs, sizes of orders, and flavors of sauces and recipes, it is controlling which element of the marketing mix?

Accepted Answer

Product. KFC's decisions on brand names, package designs, sizes of orders, and flavors of sauces and recipes are all related to the product element of the marketing mix.

Question 15

The Terminator Home Security Company markets its infrared alarm system to urban residents who are more likely to experience a theft than their rural counterparts. This is an example of ____ segmentation.

Accepted Answer

The segmentation is based on geographic factors, specifically on the difference between urban and rural areas in terms of the risk of theft.

Question 16

Fern Motors is offering a rebate on cars purchased this month. This activity involves the ____ ingredient of the marketing mix.

Accepted Answer

The answer of Fern Motors is offering a rebate on...

Question 17

Kelly Warren owns a frozen yogurt shop. She has decided to focus her marketing efforts on health-conscious customers. Kelly is using the ____ approach.

Accepted Answer

The concentrated approach involves targeting a specific segment of the market, in this case, health-conscious customers. This would be more effective than an undifferentiated approach where the marketing efforts are not focused on a specific target market. The differentiated approach would involve targeting multiple segments, while the target market approach is a general term used to describe any focused marketing effort. The marketing mix is a broader concept that includes product, price, promotion, and place in the marketing strategy.

Question 18

The product Centrum Silver is positioned as a vitamin supplement for older adults. The makers of Centrum Silver have segmented the vitamin market on a ____ basis.

Accepted Answer

The fact that Centrum Silver is positioned for older adults suggests that the makers of the product have segmented the vitamin market on a demographic basis, as they are targeting a specific age group.

Question 19

Which of the following is not a major marketing mix element?

Accepted Answer

Packaging is not considered a major marketing mix element. The four traditional elements of the marketing mix are product, price, promotion, and place (distribution).

Question 20

Which of the following is the most likely basis on which a market for boats can be segmented?

Accepted Answer

The end use of the product is a common basis for segmenting markets for boats, as different types of boats are designed for specific purposes such as recreational boating, fishing, or transportation.

Quiz 12: Building Customer Relationships Through Effective Marketing