Question 1

Automobile manufacturers could build cars specially designed for very tall people,but it is likely that this segment is not substantial.

Accepted Answer

While there may be a market for cars designed for very tall people, it is not a substantial segment. Automobile manufacturers focus on designing cars that can cater to the needs and preferences of the majority of consumers, rather than niche markets.

Question 2

A complex product that is best described in writing will be difficult to explain to consumers who are unable to read.For this reason,a segment in which many consumers could not read would be considered unattractive because the consumers would not be responsive.

Accepted Answer

False

Question 3

When deciding how to promote his new medical oncology center,Dr.Jones decided that he did not need to throw a large grand opening reception.Instead,he promoted the center to the internal medicine doctors in the area,who were the doctors most likely to refer patients to the center.Dr.Jones was engaged in a concentrated targeting strategy.

Accepted Answer

Dr. Jones targeted a specific group, internal medicine doctors, who were most likely to refer patients to his center. This demonstrates a concentrated targeting strategy.

Question 4

A company that sells only multigrain,low calorie bread should use an undifferentiated targeting strategy.

Accepted Answer

An undifferentiated targeting strategy is when a company targets the entire market with one product or marketing mix. However, a company that sells only multigrain, low calorie bread is targeting a specific niche market of health-conscious consumers, which would require a differentiated targeting strategy.

Question 5

Sally is in the new marketing department of a midsized lawn and garden company.She is working on the first marketing plan the firm has ever used.She has defined the mission and objectives,and she just finished a situation analysis for the firm.The next step is to:
A) develop an advertising plan to promote the upcoming sales.
B) find marketing interns or hire new staff to help with implementation.
C) create pro forma financial statements to complete the package.
D) identify and evaluate opportunities by conducting segmentation,targeting and positioning analysis.
E) use the Internet,catalogs,and vendor information to draw up a list of new products.

Accepted Answer

After completing the situation analysis, the next step in the marketing process is to identify and evaluate opportunities through segmentation, targeting, and positioning analysis. This will help the company understand its target customers and develop a strategy to reach and appeal to them. Developing an advertising plan, hiring staff, or creating financial statements would come later in the process. Drawing up a list of new products may be part of the opportunity analysis, but it is not the primary next step in the marketing process.

Question 6

For each target market,General Imaging Corporation,a manufacturer of imaging equipment,will engage in positioning,adjusting their marketing mix variables in order to give customers:
A) better Medicaid and Medicare payments.
B) a perceptual map of the imaging landscape.
C) more product features than the competition offers.
D) lower prices than the competition offers.
E) a clear,distinctive,and desirable understanding of their products relative to competing products.

Accepted Answer

The best choice is to give customers a clear, distinctive, and desirable understanding of their products relative to competing products. This is the goal of positioning, which involves adjusting the marketing mix variables to create a unique and favorable image of the company's products in the mind of the target market. While some other options like more product features or lower prices may be part of the marketing mix adjustments, they are not the ultimate goal of positioning. A perceptual map may help in creating the desired image, but it is not the goal itself. Better Medicaid and Medicare payments are not relevant to positioning, as it is about creating a brand image in the mind of the target market.

Question 7

It would be logical for bathing suit marketers to use geographic segmentation.

Accepted Answer

Geographic segmentation involves dividing a market into different geographical units such as nations, regions, cities, or neighborhoods. Bathing suit marketers may use geographic segmentation to target consumers in areas with warmer climates, coastal regions or near water bodies where swimming and water activities are common.

Question 8

A self-values map displays the position of products or brands in the consumer's mind.

Accepted Answer

The answer of A self-values map displays the position of...

Question 9

Giant Food Stores in suburban Washington,D.C.,adjusts its ethnic food aisle offerings based on the ethnic groups living near each store.Giant Foods is using geodemographic segmentation.

Accepted Answer

Geodemographic segmentation is the process of grouping people based on where they live and demographic information about them. In this case, Giant Food Stores is adjusting its offerings based on the ethnic groups living near each store, which falls under geodemographic segmentation.

Question 10

For products like pencils and paperclips,marketers should probably use an undifferentiated targeting strategy.

Accepted Answer

Undifferentiated targeting strategy is the most appropriate for products that are considered low-involvement, low-cost, and have a universal appeal, such as pencils and paperclips.

Question 11

The STP process is made up of strategy,targeting,and promotion.

Accepted Answer

The STP process stands for Segmentation, Targeting, and Positioning, not strategy, targeting, and promotion.

Question 12

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.
A) mass customization consumers
B) geographic segments
C) market segments
D) self-concept customers
E) geodemographic segments

Accepted Answer

Alex has identified distinct groups within his target market that have similar responses to his marketing efforts. These groups are referred to as market segments. In this case, the segments are those interested in commercial and residential real estate, indicating different usage purposes for the properties they would buy.

Question 13

Positioning strategies generally focus either on how the product benefits the consumer or on how it is better than competitors' products.

Accepted Answer

Positioning strategies can focus on highlighting the benefits of the product to the consumer or on emphasizing how it is superior to competitors' products.

Question 14

When a marketer adjusts the marketing mix to give customers a clear,distinctive understanding of what the product does,the marketer is engaging in psychographic segmentation.

Accepted Answer

Psychographic segmentation is based on factors such as personality, lifestyle, and values, rather than just the product features. Adjusting the marketing mix to focus on product features would be an example of product differentiation, which is not necessarily tied to psychographic segmentation.

Question 15

The first step in the STP process is to:
A) identify the segmentation methods to be used.
B) produce a list of strengths and weaknesses of the firm's past marketing strategies.
C) clearly articulate the firm's vision or marketing strategy objectives.
D) select target markets.
E) develop a marketing mix,so that an appropriate segment can later be identified.

Accepted Answer

The first step in the STP process is to clearly articulate the firm's vision or marketing strategy objectives. This sets the foundation for the rest of the process and ensures that all subsequent decisions are aligned with the overall marketing goals of the company.

Question 16

Perceptual maps include positions of current brands as well as ideal points where a consumer segment would want a product to be.

Accepted Answer

Perceptual maps show the positions of current brands in a market as well as the ideal points where a consumer segment would want a product to be positioned.

Question 17

The first step in the STP process is to establish an overall strategy.

Accepted Answer

This is correct as the first step in the STP (Segmentation, Targeting, and Positioning) process is to establish an overall strategy for the product or service being offered. This strategy will guide the rest of the process and help ensure that the marketing efforts are aligned with the goals and objectives of the company.

Question 18

Segmentation,targeting and positioning:
A) are terms that can be used interchangeably in developing marketing plans.
B) are part of a firm's marketing strategy.
C) should be done simultaneously so synergies can help streamline the effort.
D) are part of the marketing plan but bear little direct relationship to the marketing mix.
E) all of these.

Accepted Answer

Segmentation, targeting, and positioning are integral components of a firm's marketing strategy. Segmentation refers to dividing the market into smaller groups with similar needs or characteristics; targeting involves selecting a specific segment or segments to focus marketing efforts on; and positioning refers to creating a distinct image or perception of the product or brand in the minds of the target market. These elements form the foundation of a company's marketing strategy and inform decisions about product development, pricing, promotion, and distribution.

Question 19

NASCAR redirected its marketing efforts when a survey indicated that almost 50 percent of its fans were female.This is an example of psychographic segmentation.

Accepted Answer

This is an example of demographic segmentation, which categorizes the market based on observable characteristics such as age, gender, income, etc. Psychographic segmentation involves dividing the market based on lifestyle, values, attitudes, and personality traits.

Question 20

The Value and Lifestyle Survey (VALS)conducted by Strategic Business Insights (SBI)is a widely used tool for geographic segmentation.

Accepted Answer

The Value and Lifestyle Survey (VALS) is primarily used for psychographic segmentation, focusing on consumers' values, attitudes, and lifestyles, rather than geographic segmentation.

Quiz 8: Segmentation, Targeting, and Positioning