Question 1

__________ is an extreme form of a targeting strategy.

Accepted Answer

The answer of __________ is an extreme form of a...

Question 2

Alex has found that both commercial and residential real estate buyers respond positively to his marketing communication message.Alex has identified __________ that respond similarly to his marketing efforts.

Accepted Answer

Alex has identified market segments that respond similarly to his marketing efforts. Market segmentation involves dividing a larger market into smaller groups of consumers with similar needs or characteristics. In this case, Alex has identified two market segments - commercial and residential real estate buyers - who have similar responses to his marketing communication message. The other options (mass customization consumers, geographic segments, self-concept customers, and geodemographic segments) do not accurately reflect the situation described in the question.

Question 3

When Penguin Catering Services first opened,the owner decided to target only events at resorts in its geographic region.Penguin Catering was using a(n)__________ targeting strategy.

Accepted Answer

The owner of Penguin Catering Services targeted a specific market segment, which is events at resorts in its geographic region. Therefore, the company is using a concentrated targeting strategy.

Question 4

Firms use a differentiated targeting strategy because

Accepted Answer

A differentiated targeting strategy allows firms to cater to the specific needs and preferences of different segments of the market, which can help them obtain a larger share of the overall market. By offering unique products or marketing messages to different segments, firms can differentiate themselves from competitors and gain a competitive advantage. This approach can be more effective than mass marketing, which attempts to appeal to all consumers with the same message or product. However, it does require more resources and effort to target multiple segments effectively.

Question 5

The first step in the STP process is to

Accepted Answer

The first step in the STP process is to establish the overall strategy or objectives. This is critical as it sets the foundation for the rest of the process, which includes identifying segmentation methods, selecting target markets, and developing a marketing mix. Without a clear strategy or objective, the segmentation and targeting efforts may not align with the overall goals of the organization. Therefore, it is essential to establish the strategy or objectives first.

Question 6

Adidas Group owns Reebok,Rockport,and TaylorMade brands.Adidas uses the different brands to pursue a(n)__________ strategy.

Accepted Answer

Differentiated targeting strategy involves targeting different segments with different brands and products. Adidas Group is using this strategy by owning multiple brands like Reebok, Rockport, and TaylorMade to target different market segments.

Question 7

For products like clothes pins,which provide the same benefit for all consumers,marketers should probably use a(n)________ strategy.

Accepted Answer

Undifferentiated targeting would be the best strategy for products like clothes pins which provide the same benefit for all consumers. This is because there is no need to differentiate the product or the marketing message based on the different needs or preferences of different consumer segments. A single approach can be used to target the entire market.

Question 8

"Corporate pilot fish" are former employees who start a new business based primarily on contacts and contracts with their old company.A corporate pilot fish would probably pursue a(n)__________ targeting strategy.

Accepted Answer

Micromarketing is the correct strategy because it focuses on a specific group of customers, in this case, the contacts and contracts from the pilot fish's former company.

Question 9

Kellogg's marketing communications about its Special K cereal appeal almost exclusively to women.This is an example of __________ segmentation.

Accepted Answer

Demographic segmentation refers to dividing the market based on measurable characteristics like age, gender, income, education, etc. In this case, Kellogg's is targeting women as its primary customer base, thus using gender as a demographic characteristic for segmentation.

Question 10

One of the benefits of a differentiated targeting strategy is that it allows the firm to diversify its business and

Accepted Answer

By targeting multiple market segments with differentiated strategies, the firm can spread out its risk across different customer groups. This diversification can help to lower overall risk and protect the business in case one market segment becomes unprofitable or experiences a downturn.

Question 11

A differentiated targeting strategy can allow a firm to obtain a bigger share of the overall market; this strategy

Accepted Answer

A differentiated targeting strategy requires additional resources to create multiple marketing plans and to cater to different segments. Therefore, it is likely to be more costly than an undifferentiated strategy. However, it can also lead to higher profits and a bigger market share if done successfully.

Question 12

Many companies use the Internet to allow consumers to design customized products; for example,Nike allows customers to order shoes with custom color combinations.This is a form of

Accepted Answer

Customizing products to meet individual customer needs and preferences is a form of micromarketing. It involves offering personalized products or services to a specific individual or a small group of individuals with similar needs and preferences, rather than taking a more general approach to marketing. By allowing customers to design their own products, companies like Nike can appeal to a wide range of individual preferences and gain a competitive advantage in the market.

Question 13

__________ segmentation is the most common basis of consumer market segmentation because these segments are easy to define and usually easy to reach.

Accepted Answer

Demographic segmentation is the most common basis for consumer market segmentation because it includes easily defined categories such as age, gender, income, and education level. This information can be readily obtained through surveys or other data collection methods, and these segments can often be reached through targeted advertising and marketing efforts.

Question 14

Differences in weather and climate create opportunities for

Accepted Answer

Geographic segmentation is the process of dividing a market into different geographical units based on variables such as climate, region, or population density. Differences in weather and climate can create distinct segments within a market that can be targeted through geographic segmentation.

Question 15

Adidas Group owns Reebok and Rockport-both of which offer different types of shoes.Having a variety of brands allows adidas to use a differentiated targeting strategy to

Accepted Answer

By owning multiple brands like Reebok and Rockport, Adidas can target different segments of the shoe market, thus obtaining a bigger share of the overall market.

Question 16

When Mr.How,a Pennsylvania-based discount lumber and hardware chain,sent snow blowers to its Augusta,Georgia,store in April,it was engaged in

Accepted Answer

Sending snow blowers in April to Augusta, Georgia, which has a warm climate, indicates a misguided geographic segmentation. The company failed to consider the geographic factor while making sales decisions.

Question 17

In a classic example of segmentation strategy,years ago Swift Meat Company transformed turkey meat into "Butterball" turkeys.In doing so,the company

Accepted Answer

By transforming turkey meat into "Butterball" turkeys, Swift Meat Company differentiated its product from competitors, creating a unique brand identity and marketing strategy. This is a classic example of segmentation strategy.

Question 18

For each target market,General Imaging Corporation,a manufacturer of imaging equipment,will engage in positioning,adjusting its marketing mix variables in order to give customers

Accepted Answer

Positioning involves creating a clear, distinctive, and desirable understanding of the company's products relative to competing products in the minds of the target customers. This can be achieved by adjusting the marketing mix variables such as product features, price, promotion, and distribution to meet the needs and preferences of the target market. By doing so, General Imaging Corporation can differentiate its products from competitors and offer a unique value proposition to its customers.

Question 19

Beer marketers know that high-school educated,working-class males from the ages of 25 to 40 make an attractive market for their products.This is a __________ segment of the beer market.

Accepted Answer

The given information specifically describes the demographic characteristics of the targeted market segment, which includes factors such as age, education, and occupation. Therefore, this is a demographic segment of the beer market.

Question 20

Four frequently used targeting strategies are the micromarketing,undifferentiated,differentiated,and __________ targeting strategies.

Accepted Answer

The four frequently used targeting strategies are micromarketing, undifferentiated, differentiated, and concentrated targeting strategies. The missing term in the options is "concentrated," which refers to targeting a specific group within a larger market segment. Therefore, the correct answer is E) concentrated.

Quiz 9: Segmentation,targeting,and Positioning