Question 1

_____ is defined as the art and science of fitting the product or service to one or more segments of the broad market in such a way as to set it meaningfully apart from competition.

Accepted Answer

The definition provided in the question is a classic definition of positioning, which is the process of creating a distinct image or identity for a product in the minds of the target customers, so they perceive it as being unique and different from the competition. Target marketing involves selecting one or more segments of the market to target with a specific marketing mix. Benefit segmentation is the process of dividing a market based on the benefits that customers seek from a product. Undifferentiated marketing involves treating the entire market as a homogenous group and offering the same marketing mix to all customers. Demographic segmentation involves dividing a market based on demographic variables such as age, gender, income, etc.

Question 2

The key factor in communicating information about a brand and differentiating it from competitors is:

Accepted Answer

The answer of The key factor in communicating information about...

Question 3

Thirteen percent of all American males are shorter than 5'6".A retail store that sells exclusively to men of this size is using:

Accepted Answer

The retail store is using concentrated marketing, which targets a specific and narrowly defined market segment. In this case, the segment is men who are shorter than 5'6".

Question 4

The ad for Tempur-Pedic's weight control mattress describes the mattress as "a perfect refuge from the cares of the day." This description indicates that the mattress maker is using _____ segmentation to define its market.

Accepted Answer

The use of the phrase "a perfect refuge from the cares of the day" suggests that Tempur-Pedic is emphasizing the benefits of its weight control mattress, rather than targeting a particular demographic, geographic location, or behavior pattern. This approach is consistent with benefit segmentation, which focuses on the specific benefits that consumers seek from a product or service.

Question 5

Degree of usage as a basis of segmentation is best reflected by:

Accepted Answer

The 80-20 rule, also known as the Pareto principle, states that 80% of a company's sales come from 20% of its customers. This rule can be applied as a basis for segmentation by identifying and targeting the most valuable or frequent users of a product or service. Therefore, the degree of usage can be best reflected by the 80-20 rule.

Question 6

When Rolls Royce attempts to capture a large market share of the $300,000 car buying market and only that market,it is an example of:

Accepted Answer

Concentrated marketing involves focusing all of a company's resources on capturing a particular segment of the market, which in this case is the $300,000 car buying market. This approach allows a company like Rolls Royce to specialize and differentiate its offering to meet the unique needs and wants of this specific market segment.

Question 7

Volvo's strategy of emphasizing the safety of its cars in their advertising reflects a positioning strategy based on:

Accepted Answer

Volvo's emphasis on safety highlights a specific benefit of their cars, which aligns with benefit segmentation, where products are marketed based on the benefits they offer to consumers.

Question 8

When Coca-Cola only had one product in its line and was targeting everyone,the company was employing:

Accepted Answer

When Coca-Cola had only one product and was targeting everyone (regardless of age, gender, income level, etc.), it was practicing undifferentiated marketing, also known as mass marketing. This approach involves creating a single marketing mix and message to reach the widest possible audience.

Question 9

Coca-Cola's offerings of diet,cherry-flavored,vanilla-flavored,and caffeine-free versions of its product in addition to its original product reflect the company's decision to serve:

Accepted Answer

Coca-Cola's offerings of different versions of its product indicate that the company is targeting differentiated markets, which means it is trying to appeal to different customer segments with different needs and preferences. By providing varied options, Coca-Cola can attract and retain a larger customer base and increase its market share.

Question 10

An advertising campaign stating that BMW "outperforms most cars on the road even before you step on the accelerator" is an example of _____ segmentation.

Accepted Answer

This statement emphasizes the benefit of BMW cars and appeals to consumers who value performance. Therefore, it is an example of benefit segmentation.

Question 11

_____ segmentation is the grouping of customers on the basis of attributes sought in a product.

Accepted Answer

Benefit segmentation is the process of grouping customers based on the benefits they desire from a product. This type of segmentation focuses on specific product attributes that customers value, such as quality, price, convenience, or design. By understanding what benefits different customer groups are seeking, marketers can create targeted marketing campaigns that highlight the specific attributes of a product that are most important to each group. This approach can help companies differentiate their products from competitors and increase customer satisfaction and loyalty. Therefore, option A is the best choice for this question.

Question 12

BMW's positioning of its convertible as "the ultimate tanning machine" would reflect a positioning strategy based on:

Accepted Answer

BMW's positioning of its convertible as "the ultimate tanning machine" highlights the benefits and attributes of the product, specifically its ability to provide an enjoyable open-air driving experience that allows for tanning.

Question 13

A brand's market position refers to its:

Accepted Answer

A brand's market position refers to the perception and image it holds in the minds of consumers in relation to competitors. It reflects how the brand is perceived in terms of quality, value, and differentiation, and how it meets the needs and preferences of the target audience. While relative market share, distribution intensity, location on store shelves, and stage in the product life cycle all impact a brand's market position, they are not direct measures of the brand's image or perception in the market.

Question 14

When Bruce Teilhaber opened his men's shoe store,he decided to carry a full line of shoes in the larger,hard-to-find sizes.Today,his shoe store caters to professional basketball,baseball,and football players who appreciate the variety and quality of shoes Tielhaber carries and often order a dozen new pairs in a single visit.This shoe store uses:

Accepted Answer

This shoe store is using concentrated marketing by focusing on a specific group of customers, namely professional athletes who require larger shoe sizes. This allows the store to cater to their specific needs and preferences, which helps to build customer loyalty and increase sales.

Question 15

The headline on the ad for Broilmaster Grill read,"The Most Durable Grill Known to Man." Broilmaster is using a positioning strategy based on:

Accepted Answer

The ad for Broilmaster Grill is using a positioning strategy based on product attributes and benefits by highlighting that it is the most durable grill known to man.

Question 16

The fact some consumers want pure bottled water while some want flavored bottle water and others want bottled water with added minerals provides an opportunity for _____ segmentation in the bottled water market.

Accepted Answer

The fact that consumers have different preferences for their bottled water shows that they are seeking different benefits from the product. This creates an opportunity for benefit segmentation, where consumers are grouped based on the specific benefits they seek from the product.

Question 17

_____ involves developing separate marketing strategies for a number of segments.

Accepted Answer

Differentiated marketing involves creating different marketing strategies for distinct customer segments. This allows companies to better meet the specific needs and preferences of each segment, potentially resulting in higher sales and customer loyalty.

Question 18

When MetaboLife first came on the market,its only product was a weight-loss pill that was guaranteed to energize the user by causing a greater level of physical activity,which would burn calories.This was its only product,and it was marketed to anyone who wanted to lose weight or have more energy.This means,that its target market was virtually anyone breathing because very few people like their current weight,and everyone could use a little more energy.MetaboLife used:

Accepted Answer

MetaboLife used undifferentiated marketing, also known as mass marketing, as their product was marketed to a wide range of consumers without any specific segmentation or targeting. The product was designed to appeal to anyone who wanted to lose weight or increase energy, which covers a broad spectrum of demographics and psychographics.

Question 19

L'Oreal,the giant cosmetics manufacturer,targets the luxury market with Helena Rubinstein and Lancôme brands.Its less expensive brands like Elseve and L'Oreal are sold by discount retailers.L'Oreal uses:

Accepted Answer

L'Oreal is using differentiating marketing by targeting different segments with different brands. They are targeting the luxury market with Helena Rubinstein and Lancôme, while selling their less expensive brands through discount retailers. This allows them to differentiate their brands and target specific segments of the market.

Question 20

_____ segmentation is most closely related to the "80-20 rule," which states that 80 percent of a company's business comes from 20 percent of its customers.

Accepted Answer

The 80-20 rule is most closely related to behavioristic segmentation, which focuses on customers' behaviors, such as their purchasing habits or product usage. This type of segmentation seeks to identify the 20 percent of customers who are responsible for 80 percent of a company's revenue.

Quiz 2: The Role of Imc in the Marketing Process