Question 1

When marketers are repositioning they have a choice of four options: image, product, intangible and tangible repositioning.

Accepted Answer

Marketers have the option to choose from these four types of repositioning when they are trying to change the perception of their brand or product in the minds of consumers.

Question 2

Which of the following is required when constructing a perceptual map?
A)Identify a set of competing brands
B)Identify the important attributes consumers use when choosing between brands
C)Get consumers to score each brand on all the key attributes
D)All of the above are required

Accepted Answer

All of the above are required when constructing a perceptual map. It is important to identify a set of competing brands, identify the important attributes that consumers use when choosing between brands, and gather consumer scores on those key attributes to effectively construct a perceptual map.

Question 3

Psychographic segmentation is the grouping of people according to their lifestyle and personality characteristics.

Accepted Answer

Psychographic segmentation is a marketing technique that clusters people according to their lifestyles, interests, values, and personality traits. This type of segmentation provides insight into consumer behavior, including their preferences, expectations, and purchasing behavior. Therefore, option A is correct.

Question 4

Which of the following is a prerequisite to successful positioning?
A)The differential advantage should be categorical and definitive
B)The differential advantage should have a competitive edge
C)The differential advantage should have equity
D)The differential advantage should be similar to competitors

Accepted Answer

Having a competitive edge is crucial in successful positioning. If the differential advantage does not offer a competitive advantage over competitors, it will not set the brand or product apart in the market. The other choices may also be desirable, but they are not prerequisites for successful positioning. For example, having equity in the brand or product may help build customer loyalty, but it is not necessary for successful positioning.

Question 5

Who initiated mass customization?
A)Irish companies
B)British companies
C)French companies
D)Japanese companies

Accepted Answer

Mass customization was first initiated by Japanese companies, notably in the automotive industry with Toyota and Nissan. They developed the concept of lean manufacturing and integrated it with mass customization, leading to the success of their products in the global market.

Question 6

Intangible repositioning involves which of the following?
A)Changing the product and targeted market segment
B)Retaining the product but changing the market segment the company aims for
C)Retaining the product and the market segment but changing the brand's image
D)None of the above

Accepted Answer

The answer of Intangible repositioning involves which of the following?
A)Changing...

Question 7

A market coverage strategy where a company decides to target one market segment (niche) with a single marketing mix is called which of the following?
A)Focused marketing
B)Undifferentiated marketing
C)Differentiated marketing
D)Customized marketing

Accepted Answer

Focused marketing, also known as niche marketing, involves focusing on a small, specific market segment with a unique marketing mix. This approach is generally used by smaller businesses that have limited resources and cannot cater to a broader market. By focusing on a particular segment, a company can offer a customized product or service that caters to that segment's specific needs and preferences. This approach is different from undifferentiated marketing (B), where a company does not differentiate between different market segments and offers the same product and marketing mix to everyone. Differentiated marketing (C) involves targeting multiple market segments with different marketing mixes, while customized marketing (D) involves tailoring a product or service to the specific needs of an individual customer.

Question 8

Undifferentiated marketing is which of the following?
A)A market coverage strategy where a company decides to ignore market segment differences and develops a single marketing mix for the whole market
B)A market coverage strategy where a company decides to target individual customers and develops separate marketing mixes for each
C)A market coverage strategy where a company decides to tailor its promotional strategy for each and every customer
D)A market coverage strategy where a company decides to target several market segments and develops separate marketing mixes for each

Accepted Answer

Undifferentiated marketing is a strategy where a company ignores market segment differences and develops a single marketing mix for the whole market. This approach is also known as mass marketing.

Question 9

Customized marketing is which of the following?
A)A market coverage strategy where a company decides to target several market segments and develops separate marketing mixes for each
B)A market coverage strategy where a company decides to target one market segment with a single marketing mix
C)A market coverage strategy where a company decides to target individual customers and develops separate marketing mixes for each
D)A market coverage strategy where a company decides to tailor its promotional strategy for each and every customer

Accepted Answer

Customized marketing involves targeting individual customers and developing separate marketing mixes for each. This allows for a personalized approach and can increase customer satisfaction and loyalty. A and B describe market segmentation strategies, while D is not a feasible strategy as it would be too time-consuming and costly to tailor a promotional strategy for each individual customer.

Question 10

Positioning involves which of the following?
A)Designing a company's offering so that it occupies a meaningful and distinct position in the mind of the consumer
B)Designing a company's offering so that it appeals to a narrow segment of the market
C)None of the above
D)All of the above

Accepted Answer

Positioning involves designing a company's offering so that it occupies a meaningful and distinct position in the mind of the consumer. While B is an aspect of targeting a specific segment, it is not the definition of positioning. C is incorrect as positioning does involve certain actions, and D is too broad as not all aspects of design are encompassed by positioning.

Question 11

Behavioural segmentation is the grouping of people in terms of variables such as benefits sought, purchase occasion and usage rates.

Accepted Answer

Behavioural segmentation is indeed the grouping of people based on their behaviour related variables such as benefits sought, purchase occasion and usage rates.

Question 12

Focused marketing is a market coverage strategy where a company decides to target individual customers and develops separate marketing mixes for each.

Accepted Answer

Focused marketing, also known as niche marketing, involves targeting a specific market segment with a tailored marketing mix, not individual customers.

Question 13

The grouping of people according to their lifestyle and personality characteristics is called which of the following?
A)Psychographic segmentation
B)Lifecycle segmentation
C)Market segmentation
D)Personality segmentation

Accepted Answer

Psychographic segmentation is the grouping of people based on their personality traits, values, interests, and lifestyle characteristics. This approach helps organizations understand their target audience better and tailor their marketing efforts accordingly. Lifecycle segmentation is the grouping of people based on their age and life stages, market segmentation is the process of dividing a market into smaller groups with similar needs or characteristics, and personality segmentation is the grouping of people based on their individual personality traits. However, all of these approaches can be used in combination with psychographic segmentation to develop a more comprehensive understanding of the target market.

Question 14

Which of the following is not a criterion used to segment consumer markets?
A)Social Class
B)Geography
C)Purchasing organization
D)Usage

Accepted Answer

Social class, geography, and usage are all commonly used criteria to segment consumer markets. Purchasing organization is not typically used in consumer market segmentation, as it is more relevant to industrial or business-to-business markets.

Question 15

Which of the following is a key determinant of successful positioning?
A)Competitiveness
B)Consumer
C)Consistency
D)All of the above

Accepted Answer

Successful positioning relies on a combination of competitiveness (differentiating oneself from competitors), understanding the needs and wants of the consumer, and consistency in communicating the desired image and message. Therefore, all of the options are key determinants for successful positioning.

Question 16

Positioning is concerned with acquirement of optimal shelving locations within retail stores.

Accepted Answer

Positioning refers to the process of establishing and maintaining a distinctive place in the market for a company or its products. It involves creating a unique image or identity in the minds of the target audience, rather than just acquiring optimal shelving locations within retail stores.

Question 17

The process of identifying individuals or organizations with similar characteristics that have significant implications for the determination of marketing strategy is called which of the following?
A)Positioning
B)Repositioning
C)Market Segmentation
D)Product Segmentation

Accepted Answer

Market segmentation is the process of dividing a larger market into smaller groups of consumers with similar needs and wants. This allows companies to develop targeted marketing strategies for each segment, rather than a one-size-fits-all approach.

Question 18

The keys to successful positioning are clarity, consistency, concentrated and competitiveness.

Accepted Answer

The keys to successful positioning are clarity, consistency, credibility, and competitiveness. "Concentrated" is not typically listed as one of the keys.

Question 19

Profile segmentation is the grouping of people in terms of profile variables such as age and socio-economic group so that marketers can communicate to them.

Accepted Answer

Profile segmentation is indeed the grouping of people based on their profile variables in order to effectively target marketing messages to them.

Question 20

Repositioning involves which of the following?
A)Changing the competition's advantage
B)Changing the sales targets
C)Changing the target market or differential advantage or both
D)None of the above

Accepted Answer

Repositioning involves changing either the target market or the differential advantage (or both) of a product or service in order to better compete in the marketplace. Therefore, option C is the correct choice as it directly relates to the definition of repositioning. Option A and B are incorrect as they do not accurately describe repositioning. Option D is also incorrect as repositioning is a specific marketing strategy that involves changes in key areas of a product or service.

Quiz 5: Market Segmentation, Targeting and Positioning

When marketers are repositioning they have a choice of four options: image, product, intangible and tangible repositioning.

Which of the following is required when constructing a perceptual map?

Psychographic segmentation is the grouping of people according to their lifestyle and personality characteristics.

Which of the following is a prerequisite to successful positioning?

Who initiated mass customization?

Intangible repositioning involves which of the following?

A market coverage strategy where a company decides to target one market segment (niche) with a single marketing mix is called which of the following?

Undifferentiated marketing is which of the following?

Customized marketing is which of the following?

Positioning involves which of the following?

Behavioural segmentation is the grouping of people in terms of variables such as benefits sought, purchase occasion and usage rates.

Focused marketing is a market coverage strategy where a company decides to target individual customers and develops separate marketing mixes for each.

The grouping of people according to their lifestyle and personality characteristics is called which of the following?

Which of the following is not a criterion used to segment consumer markets?

Which of the following is a key determinant of successful positioning?

Positioning is concerned with acquirement of optimal shelving locations within retail stores.

The process of identifying individuals or organizations with similar characteristics that have significant implications for the determination of marketing strategy is called which of the following?

The keys to successful positioning are clarity, consistency, concentrated and competitiveness.

Profile segmentation is the grouping of people in terms of profile variables such as age and socio-economic group so that marketers can communicate to them.

Repositioning involves which of the following?