Question 1

When Victoria's Secret offers clients different colors,fabrics and styles,it is trying to capture the market by:
A) segmenting,targeting and positioning.
B) offering everything to everyone.
C) trying lots of options to find out which one works.
D) continual test marketing.
E) focusing exclusively on its Pink brand.

Accepted Answer

Victoria's Secret is segmenting the market by offering different options for customers to choose from. They are targeting specific groups of customers with their different offerings, and positioning themselves as a brand that has something for everyone. This is a common marketing strategy used to attract a diverse range of customers.

Question 2

Assume you are the marketing consultant for your university,which wants to focus its marketing efforts on retention of current students.You have a choice of segmenting the undergraduate student market on either a geographic or psychographic basis.What is the difference between the two? Which would you recommend,and why?

Accepted Answer

The answer of Assume you are the marketing consultant for...

Question 3

Within a perceptual map,a(n)__________ represents where a particular market segment's desired product would lie.
A) point of parity
B) strategic target
C) PRIZM cluster
D) ideal point
E) benefit centroid

Accepted Answer

The ideal point on a perceptual map represents the location where a particular market segment's desired product would lie. It is the point that best satisfies the needs and preferences of the target market.

Question 4

Overriding desires that drive how we live our lives are called:
A) self-values.
B) self-concept.
C) self-esteem.
D) self-confidence.
E) self-control.

Accepted Answer

Self-values are the deeply held beliefs and priorities that guide how individuals live their lives. They can shape daily decisions and behaviors and drive individuals towards long-term goals and aspirations. Examples of self-values may include honesty, loyalty, family, or success.

Question 5

Marketers find psychographics a valuable segmentation approach.What are some of the limitations of psychographic segmentation and what can marketers do to offset those limitations?

Accepted Answer

The answer of Marketers find psychographics a valuable segmentation approach.What...

Question 6

"Why create a perceptual map?" asked David.Andreas,the senior marketing manager,gave him four reasons.Which of the following is NOT a valid reason?
A) "It's a quick way for senior managers to see not only our product but each of our competitors,all at once."
B) "It's a way to demonstrate the dimensions that our customers think are important."
C) "It shows where we aren't--and where our competitors aren't--in our customers' and prospects' minds."
D) "It's a way to show the position of the company in ten years."
E) "We can easily show where we are positioned and how large the market is."

Accepted Answer

Creating a perceptual map is a way to analyze the current positioning of a company and its competitors in the minds of customers. It is not a tool to predict the future position of the company in ten years. Therefore, option D is not a valid reason to create a perceptual map.

Question 7

The text states that "geodemographic segmentation can be particularly useful for retailers." Use a local retailer to describe how geodemographic segmentation could be useful.

Accepted Answer

The answer of The text states that "geodemographic segmentation can...

Question 8

Which of the following segmentation methods is being used when M&Ms offers special wedding-themed packaging for customized M&Ms (imprinted with the names of the bride and groom)?
A) Occasion segmentation
B) Geographic segmentation
C) Lifestyle segmentation
D) Benefit segmentation
E) Loyalty segmentation

Accepted Answer

Occasion segmentation is being used when M&Ms offers special wedding-themed packaging for customized M&Ms (imprinted with the names of the bride and groom). Occasion segmentation involves targeting customers based on specific occasions or events, such as weddings, birthdays, or holidays.

Question 9

Unilever used the technique of "crowdsourcing" to assist in marketing mix design for its Axe personal care products for men.What is crowdsourcing?
A) Tapping directly into needs and ideas of a target audience by inviting broad-based input
B) Identifying trends by observing a large group of people in a public place
C) Conducting focus group research
D) Conducting a test market
E) Estimating wide-scale sales from a test with a small crowd

Accepted Answer

Crowdsourcing is the act of outsourcing a task or problem to a large number of people or community, typically via the internet. It involves tapping directly into needs and ideas of a target audience by inviting broad-based input. Unilever utilized crowdsourcing to gain insights into the preferences of its target audience for its Axe personal care products.

Question 10

Why must a firm's STP strategy be consistent with and derived from the firm's mission and objectives?

Accepted Answer

The answer of Why must a firm's STP strategy be...

Question 11

Which of the following defines a value proposition?
A) The unique value that a product or service provides to its customers
B) A special discount offer dropping the price
C) An advertisement that talks about value
D) A display of the position of products or brands in the consumer's mind
E) None of these

Accepted Answer

A value proposition is the unique value that a product or service provides to its customers. It is a statement that answers the question, "What makes your product/service different and better than others in the market?" A value proposition helps to communicate the benefits the customer will receive from the product/service and is an essential component of a successful marketing strategy. The other options are not accurate definitions of a value proposition.

Question 12

The perceptions of __________ are being measured in a perceptual map.
A) competitors
B) strategic planners
C) the company's executive team
D) the current R&D team
E) consumers

Accepted Answer

Perceptual maps are typically used to measure the perceptions of consumers.

Question 13

Develop a lifestyle segmentation scheme for students at this university,and label and describe three segments.You can think of this as developing your own version of the VALS tool,but specifically for college students.

Accepted Answer

The answer of Develop a lifestyle segmentation scheme for students...

Question 14

China Mobile has identified segments for its services including rural farmers,college students,and wealthy businessmen.These are examples of __________ segments.
A) demographic
B) geographic
C) psychographic
D) benefit
E) behavioral

Accepted Answer

The segments identified by China Mobile are based on demographics, which include characteristics such as age, income level, and occupation. Rural farmers, college students, and wealthy businessmen are all examples of demographic segments as they share similar demographic characteristics.

Question 15

In theory,why is micromarketing the ultimate in STP strategy? What is the weakness associated with micromarketing?

Accepted Answer

The answer of In theory,why is micromarketing the ultimate in...

Question 16

Godiva Chocolates produces specially decorated boxes of candies for Valentine's Day,Easter,and Christmas.This is an example of:
A) occasion segmentation
B) loyalty segmentation
C) geographic segmentation
D) psychographic segmentation
E) demographic segmentation

Accepted Answer

Occasion segmentation refers to dividing consumers based on events or holidays. In this case, Godiva Chocolates is producing special boxes for Valentine's Day, Easter, and Christmas, which are all occasions that consumers may specifically seek out chocolate as a gift or treat. Therefore, the best choice is A) occasion segmentation.

Question 17

By designing subcompact cars specifically for Chinese consumers,American and Japanese auto makers are engaging in:
A) geographic segmentation
B) psychographic segmentation
C) geodemographic segmentation
D) demographic segmentation
E) behavioral segmentation

Accepted Answer

Geographic segmentation is the process of dividing a market into different groups based on their geographic location. In this case, American and Japanese auto makers are designing subcompact cars specifically for Chinese consumers, which is a geographic segmentation strategy.

Question 18

Choose a fast-food restaurant chain that does business in your area.Describe the company's target market,and explain how its marketing mix is designed to appeal to this target market.

Accepted Answer

The answer of Choose a fast-food restaurant chain that does...

Question 19

When evaluating the attractiveness of the segment,if a segment is expected to react positively to the firm's offering,we say that the segment is:
A) responsive
B) identifiable
C) reachable
D) substantial
E) reactive

Accepted Answer

When a segment is expected to react positively to the firm's offering, it is considered responsive. This means that the segment is likely to show interest in the product and make a purchase, making it an attractive segment for the firm to target. Identifiable, reachable, substantial, and reactive are also important criteria in segment evaluation, but they do not necessarily indicate that a segment will be responsive to the firm's offering.

Question 20

Assume you are the marketing consultant for your university,which wants to focus its marketing efforts on recruiting new students.You have a choice of segmenting the undergraduate student market on either a demographic or benefit basis.What is the difference between the two? Which would you recommend,and why?

Accepted Answer

The answer of Assume you are the marketing consultant for...

Quiz 8: Segmentation, Targeting, and Positioning

When Victoria's Secret offers clients different colors,fabrics and styles,it is trying to capture the market by:

Within a perceptual map,a(n) __________ represents where a particular market segment's desired product would lie.

Overriding desires that drive how we live our lives are called:

Marketers find psychographics a valuable segmentation approach.What are some of the limitations of psychographic segmentation and what can marketers do to offset those limitations?

"Why create a perceptual map?" asked David.Andreas,the senior marketing manager,gave him four reasons.Which of the following is NOT a valid reason?

The text states that "geodemographic segmentation can be particularly useful for retailers." Use a local retailer to describe how geodemographic segmentation could be useful.

Which of the following segmentation methods is being used when M&Ms offers special wedding-themed packaging for customized M&Ms (imprinted with the names of the bride and groom) ?

Unilever used the technique of "crowdsourcing" to assist in marketing mix design for its Axe personal care products for men.What is crowdsourcing?

Why must a firm's STP strategy be consistent with and derived from the firm's mission and objectives?

Which of the following defines a value proposition?

The perceptions of __________ are being measured in a perceptual map.

Develop a lifestyle segmentation scheme for students at this university,and label and describe three segments.You can think of this as developing your own version of the VALS tool,but specifically for college students.

China Mobile has identified segments for its services including rural farmers,college students,and wealthy businessmen.These are examples of __________ segments.

In theory,why is micromarketing the ultimate in STP strategy? What is the weakness associated with micromarketing?

Godiva Chocolates produces specially decorated boxes of candies for Valentine's Day,Easter,and Christmas.This is an example of:

By designing subcompact cars specifically for Chinese consumers,American and Japanese auto makers are engaging in:

Choose a fast-food restaurant chain that does business in your area.Describe the company's target market,and explain how its marketing mix is designed to appeal to this target market.

When evaluating the attractiveness of the segment,if a segment is expected to react positively to the firm's offering,we say that the segment is: