Question 1

What does a positioning map demonstrate?
A) which companies utilize undifferentiated marketing strategies
B) what will remain constant through the entire product life cycle
C) how consumers view a product relative to competitive products
D) how to introduce a new product to the marketplace

Accepted Answer

A positioning map demonstrates how consumers view a product relative to competitive products. It helps businesses to understand their position in the market and make strategic decisions to differentiate themselves from competitors.

Question 2

What are marketers who apply a positioning strategy wanting to do?
A) make their product look as much like the market leader as possible
B) emphasize a product's unique advantages
C) make sure they clearly outline the product's possible applications
D) talk to specific, known users of the product

Accepted Answer

Marketers who apply a positioning strategy want to emphasize a product's unique advantages in order to differentiate it from competitors and create a distinct image in the minds of target customers.

Question 3

A hotel purchases towels for use in its rooms.These towels are considered business products.

Accepted Answer

Business products are purchased to be used in a business or organization, such as towels for use in hotel rooms.

Question 4

What positioning strategy would use the slogan "You don't pay more, you get more"?
A) price/quality
B) attributes
C) users
D) competitors

Accepted Answer

The slogan "You don't pay more, you get more" emphasizes a balance between price and quality, indicating that the product offers high quality without an excessive price tag. This aligns with the price/quality positioning strategy, making option A the most appropriate choice.

Question 5

Consumer products are items purchased by consumers or businesses to be used in their homes, offices, or factories.

Accepted Answer

Consumer products are items purchased by consumers for personal use, not for business or industrial purposes. Items for businesses or factories are typically classified as industrial or business products.

Question 6

By identifying, evaluating, and selecting a target market to pursue, marketers are able to develop more efficient and effective marketing strategies.

Accepted Answer

Identifying and evaluating a target market helps in understanding their needs and preferences, which in turn assists in developing tailored marketing messages and strategies that resonate with them. This leads to more efficient and effective marketing campaigns.

Question 7

Items can be classified as business products not because of what they are but because of how they will be used, such as shovels and rakes purchased by a lawn care service.

Accepted Answer

Business products are products purchased by organizations for use in their operations. How the products will be used by the organization is the key factor in determining whether a product is a business product or a consumer product. So, shovels and rakes purchased by a lawn care service are business products because they will be used by the organization in their lawn care operations.

Question 8

The target market for a product is the specific segment of consumers most likely to purchase that particular product.

Accepted Answer

The statement is true. The target market is the group of consumers that the product is intended for and is most likely to purchase it. Identifying the target market is a crucial step in the marketing process, as it allows companies to tailor their marketing efforts and messaging to this specific group.

Question 9

Goods and services generally purchased by manufacturers are classified as business products.

Accepted Answer

Business products are goods and services that are used to produce other products, to facilitate an organization's operations, or to resell to other customers. Manufacturers normally purchase raw materials, components, machinery, and other products that are classified as business products.

Question 10

A market comprises any person or entity that has the willingness, authority, and purchasing power to buy a product.

Accepted Answer

This statement accurately defines what a market is. A market includes individuals or organizations that desire, have the ability, and are willing to purchase a specific product or service.

Question 11

What interactive medium might help micromarketers boost the effectiveness of their strategy by tracking specific demographics and communicating directly to individuals who are MOST likely to buy that product?
A) customized direct-mail packages
B) the Internet
C) personalized telemarketing messages
D) fax marketing

Accepted Answer

The Internet is the best choice as it allows for tracking specific demographics through data analytics and targeting specific individuals through personalized ads, emails, and social media messages. This can significantly boost the effectiveness of the micromarketers' strategy. Customized direct-mail packages and personalized telemarketing messages can also be effective but do not offer the same level of targeting and tracking capabilities. Fax marketing is outdated and not as effective in reaching modern consumers.

Question 12

Why are micromarketing techniques used?
A) primarily to sell services or other intangibles
B) to maximize revenue potential of large firms that have abundant financial resources only by mass marketers
C) for the sale of industrial goods by vendors only
D) to target very specific groups or individuals

Accepted Answer

Micromarketing techniques are used to target very specific groups or individuals. It allows marketers to tailor their marketing efforts to a specific audience in order to improve the effectiveness of their marketing strategies. This approach is particularly useful for smaller businesses with limited budgets, but can also be used by larger firms to increase the effectiveness of their marketing efforts.

Question 13

Which of the following LEAST describes concentrated marketing?
A) It is very effective for large corporate competitors that have marketplace clout.
B) Firms that wish to focus on multiple segments utilize it.
C) It is an effective strategy for specialty or unique products.
D) It is more impacted by shifts in consumer buying habits and other external factors.

Accepted Answer

Concentrated marketing is not typically effective for large corporate competitors with marketplace clout, as it focuses on targeting a specific niche market rather than a broad audience.

Question 14

Which of the following is one of the basic determinants of a market-specific segmentation strategy?
A) product demand
B) competitors' strategies
C) environmental constraints
D) organizational efficiencies

Accepted Answer

The answer of Which of the following is one of...

Question 15

What strategy is a company using when they choose to focus its efforts on satisfying only one market segment for profit?
A) niche marketing
B) elimination marketing
C) undifferentiated marketing
D) designer marketing

Accepted Answer

Niche marketing is a strategy where a company focuses on satisfying the needs and preferences of a specific market segment. This allows the company to tailor its products and marketing efforts to a more targeted audience, potentially resulting in higher profits and brand loyalty. Elimination marketing is not a recognized marketing strategy. Undifferentiated marketing involves targeting a broad range of customers with the same product, while designer marketing involves creating unique and high-end products for a specific market segment.

Question 16

Business products are defined as contributing directly to the production of other goods.

Accepted Answer

The answer of Business products are defined as contributing directly...

Question 17

Home Depot introduced a new line of riding lawn mowers.However, the company believed the residence location of the population in certain areas did not merit carrying the mowers in that population.Which of the following BEST describes why the company MOST likely made this decision?
A) it decided to use concentrated marketing
B) it determined the market was saturated.
C) it decided to re-position the product
D) it determined re-segmentation was necessary.

Accepted Answer

The company determined that the market was saturated, meaning that there were already enough riding lawn mowers available in the area to meet the demand.

Question 18

What is the basis for a positioning strategy that uses the slogan "Crest is a cavity fighter"?
A) product price/quality
B) product class
C) product attributes
D) product users

Accepted Answer

The slogan "Crest is a cavity fighter" is emphasizing the product attribute of cavity-fighting. Therefore, the basis for the positioning strategy is product attributes.

Question 19

A company is advertising a new cordless shaver during the Grey Cup and NHL telecasts, enabling the cordless shaver to become a big success.What was the MOST likely market segmentation strategy used?
A) Lifestyle
B) Usage rates
C) Gender
D) Household type

Accepted Answer

The market segmentation strategy used is gender, as the company is using the two male-dominated events - the Grey Cup and NHL telecasts - to advertise their cordless shaver.

Question 20

Since rubber purchased by Goodyear is utilized to manufacture tires that are ultimately used by consumers on the automobiles they purchase, rubber is a consumer product for Goodyear.

Accepted Answer

Rubber is considered a raw material or industrial product for Goodyear, as it is used in the production process to manufacture tires, which are the actual consumer products.

Quiz 8: Market Segmentation, Targeting, and Positioning

What does a positioning map demonstrate?

What are marketers who apply a positioning strategy wanting to do?

A hotel purchases towels for use in its rooms.These towels are considered business products.

What positioning strategy would use the slogan "You don't pay more, you get more"?

Consumer products are items purchased by consumers or businesses to be used in their homes, offices, or factories.

By identifying, evaluating, and selecting a target market to pursue, marketers are able to develop more efficient and effective marketing strategies.

Items can be classified as business products not because of what they are but because of how they will be used, such as shovels and rakes purchased by a lawn care service.

The target market for a product is the specific segment of consumers most likely to purchase that particular product.

Goods and services generally purchased by manufacturers are classified as business products.

A market comprises any person or entity that has the willingness, authority, and purchasing power to buy a product.

What interactive medium might help micromarketers boost the effectiveness of their strategy by tracking specific demographics and communicating directly to individuals who are MOST likely to buy that product?

Why are micromarketing techniques used?

Which of the following LEAST describes concentrated marketing?

Which of the following is one of the basic determinants of a market-specific segmentation strategy?

What strategy is a company using when they choose to focus its efforts on satisfying only one market segment for profit?

Business products are defined as contributing directly to the production of other goods.

Home Depot introduced a new line of riding lawn mowers.However, the company believed the residence location of the population in certain areas did not merit carrying the mowers in that population.Which of the following BEST describes why the company MOST likely made this decision?

What is the basis for a positioning strategy that uses the slogan "Crest is a cavity fighter"?

A company is advertising a new cordless shaver during the Grey Cup and NHL telecasts, enabling the cordless shaver to become a big success.What was the MOST likely market segmentation strategy used?

Since rubber purchased by Goodyear is utilized to manufacture tires that are ultimately used by consumers on the automobiles they purchase, rubber is a consumer product for Goodyear.