Question 1

"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.
A) macromarketing
B) micromarketing
C) benefit-based
D) differentiated
E) undifferentiated

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 2

Differences in weather and climate create opportunities for
A) concentrated targeting.
B) geographic segmentation.
C) benefit segmentation.
D) psychographic segmentation.
E) demographic segmentation.

Accepted Answer

Differences in weather and climate across different regions allow for geographic segmentation of products and services that are tailored to meet the specific needs of each region. For example, clothing companies may offer a different product line for customers in colder climates versus those in warmer climates.

Question 3

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 (Segmentation, Targeting, Positioning) process is to clearly articulate the firm's vision or marketing strategy objectives. This sets the foundation for the rest of the process and helps ensure that all subsequent decisions are aligned with the overall marketing strategy.

Question 4

A differentiated targeting strategy can allow a firm to obtain a bigger share of the overall market; this strategy
A) is the cheapest option.
B) requires the use of advanced advertising techniques.
C) rarely works.
D) is likely more costly than an undifferentiated strategy.
E) is ineffective without multiple brand names.

Accepted Answer

A differentiated targeting strategy allows a firm to target multiple segments of the market with specific products or marketing approaches, which can increase overall sales and market share. However, this strategy is likely more costly than an undifferentiated strategy because it requires developing and promoting multiple products or marketing campaigns. It does not require advanced advertising techniques or multiple brand names, and while it may not work for every company or situation, it can be an effective approach for many firms.

Question 5

Firms use a differentiated targeting strategy because
A) it is easier than mass marketing.
B) it helps obtain a bigger share of the market.
C) it is better than focusing on individual or small groups of potential customers.
D) most market segments are too small to be profitable.
E) banks are more willing to extend credit to companies with this strategic approach.

Accepted Answer

Firms use a differentiated targeting strategy to target multiple segments with different product offerings or marketing messages, which helps them obtain a bigger share of the market by appealing to the unique needs of each segment.

Question 6

__________ segmentation is the most common basis of consumer market segmentation because these segments are easy to define and usually easy to reach.
A) Geographic
B) Psychographic
C) Behavioral
D) Benefits
E) Demographic

Accepted Answer

Demographic segmentation is the most common basis of consumer market segmentation because it defines consumers based on observable characteristics such as age, gender, income, education, etc. These segments are easy to define and usually easy to reach as demographic data is readily available and can be collected through various sources such as census data, surveys, and social media.

Question 7

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
A) concentrated segmentation.
B) geodemographic segmentation.
C) benefit segmentation.
D) psychographic segmentation.
E) misguided geographic segmentation.

Accepted Answer

Sending snow blowers to a location in Georgia in April suggests misguided geographic segmentation, as there is no need for snow blowers in that region at that time of year.

Question 8

Adidas Group owns Reebok,Rockport,and TaylorMade brands.Adidas uses the different brands to pursue a(n)__________ strategy.
A) concentrated targeting
B) micromarketing
C) benefit targeting
D) differentiated targeting
E) undifferentiated targeting

Accepted Answer

Adidas Group uses a differentiated targeting strategy by owning different brands such as Reebok, Rockport, and TaylorMade, each with its own unique positioning and target market. This allows the company to reach a wider range of customers with different preferences and needs.

Question 9

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.
A) demographic
B) psychographic
C) behavioral
D) benefits
E) geographic

Accepted Answer

Demographic segmentation refers to dividing the market based on measurable characteristics such as age, gender, income, education level, and occupation. In this case, the segment is based on education level and age, which are both demographic factors.

Question 10

The National Hockey League redirected its marketing efforts when a survey indicated that almost 50 percent of hockey fans were female.This is an example of __________ segmentation.
A) geographic
B) psychographic
C) demographic
D) benefits
E) behavioral

Accepted Answer

Demographic segmentation is the process of dividing a market into groups based on variables such as age, gender, income, occupation, education, family size, and ethnicity. The NHL's decision to target female fans is based on their gender, which is a demographic variable.

Question 11

__________ is an extreme form of a targeting strategy.
A) Macromarketing
B) Micromarketing
C) Benefit marketing
D) Differentiated targeting
E) Concentrated targeting

Accepted Answer

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

Question 12

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.
A) concentrated
B) micromarketing
C) benefit-driven
D) differentiated
E) undifferentiated

Accepted Answer

The owner's decision to target only events at resorts in its geographic region indicates that Penguin Catering Services is using a concentrated targeting strategy, which involves focusing on a specific niche market.

Question 13

For each target market,General Imaging Corporation,a manufacturer of imaging equipment,will engage in positioning by adjusting its marketing mix variables in order to give customers
A) a more flexible supply chain strategy.
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

Positioning involves creating a unique perception of the product in the minds of the target customers relative to competing products. Therefore, the best choice is E, which states that General Imaging Corporation will provide a clear, distinctive, and desirable understanding of their products relative to competing products. This indicates that the company will use its marketing mix variables such as product features, pricing, advertising, and distribution to create a unique brand image that will differentiate its products from the competition and make them more appealing to customers.

Question 14

One of the benefits of a differentiated targeting strategy is that it allows the firm to diversify its business and
A) decrease advertising spending.
B) focus on a single market segment.
C) lower overall risk.
D) use undifferentiated strategies in micro markets.
E) more widely market basic commodities.

Accepted Answer

Differentiated targeting strategy allows a firm to target multiple market segments with different products or marketing strategies, which can lower overall risk by not relying on a single market segment.

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
A) engage in micromarketing for hard-to-fit shoe customers.
B) obtain a bigger share of the shoe market.
C) use mass marketing techniques.
D) utilize geographic segmentation.
E) generate economies of scale in advertising expenditures.

Accepted Answer

The answer of Adidas Group owns Reebok and Rockport-both of...

Question 16

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
A) micromarketing.
B) concentrated targeting.
C) psychographic segmentation.
D) differentiated targeting.
E) undifferentiated targeting.

Accepted Answer

Micromarketing involves tailoring products and marketing efforts to the specific needs and preferences of individual customers. Allowing customers to design customized products through the Internet is a form of micromarketing since the product is specifically made to their preferences.

Question 17

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 market segments that respond similarly to his marketing efforts. This means that he has segmented the market based on similar characteristics or behaviors and identified that these segments respond positively to his message. The other answer choices do not fit with the scenario as they either do not relate to segmentation or do not fit with the information provided about Alex's marketing communication message.

Question 18

Four frequently used targeting strategies are the micromarketing,undifferentiated,differentiated,and __________ targeting strategies.
A) geographic
B) benefit-based
C) economic
D) global
E) concentrated

Accepted Answer

The question mentions four commonly used targeting strategies and asks for the missing one. The four mentioned strategies are micromarketing, undifferentiated, differentiated, and __________. The correct answer is E, concentrated targeting strategy. This strategy focuses on a specific segment of the market and directs marketing efforts and resources towards that group. This approach can be effective for niche markets or products with a unique appeal to a particular demographic. Therefore, the best choice is E, concentrated targeting strategy.

Question 19

For products like clothespins,which provide the same benefit for all consumers,marketers should probably use a(n)________ strategy.
A) concentrated targeting
B) lifestyle segmentation
C) benefit segmentation
D) undifferentiated targeting
E) differentiated segmentation

Accepted Answer

Undifferentiated targeting is the best strategy for products like clothespins because they provide the same benefit to all consumers and there is no need for market segmentation. The focus of this strategy is on the entire market as a whole rather than specific segments.

Question 20

When firms target several market segments with a different offering for each segment it is using which targeting strategy?
A) differentiated
B) mass marketing
C) undifferentiated
D) concentrated
E) micromarketing

Accepted Answer

When firms target multiple market segments with different products or services for each segment, it is known as a differentiated targeting strategy. This approach recognizes that different segments have different needs and preferences and require specific marketing efforts to address them effectively. By offering tailored products or services to each segment, firms can meet the specific demands of each group and achieve higher levels of customer satisfaction and loyalty. This strategy can also help firms differentiate themselves from competitors and foster a stronger market position.

Quiz 9: Segmentation, Targeting, and Positioning

"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.

Differences in weather and climate create opportunities for

The first step in the STP process is to

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

Firms use a differentiated targeting strategy because

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

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

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

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.

The National Hockey League redirected its marketing efforts when a survey indicated that almost 50 percent of hockey fans were female.This is an example of __________ segmentation.

__________ is an extreme form of a targeting strategy.

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.

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

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

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

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

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.

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

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

When firms target several market segments with a different offering for each segment it is using which targeting strategy?