Question 1

-In Figure 8-1 above, Box A represents which stage of the market segmentation process?
A)link needs to actions
B)identify market needs
C)establish a marketing protocol
D)execute marketing program actions
E)segment and select the target markets

Accepted Answer

The answer of 
-In Figure 8-1 above, Box A represents...

Question 2

Recently Colgate-Palmolive introduced Colgate Enamel Health toothpaste, one that claims to replenish and polish tooth enamel, the hard outer layer of the tooth that provides a protective barrier to inner layers. This new formula helps to separate the Colgate product from its top competitors, such as Crest. What marketing strategy did Colgate-Palmolive use here?
A)product differentiation
B)product segmentation
C)market expansion
D)usage segmentation
E)psychographic segmentation

Accepted Answer

Colgate-Palmolive used product differentiation as a marketing strategy by introducing a toothpaste that claims to replenish and polish tooth enamel, which sets the product apart from other toothpaste brands like Crest.

Question 3

Product differentiation refers to
A)a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs.
B)the unique combination of product benefits received by targeted buyers.
C)those characteristics of a product that make it superior to competitive substitutes.
D)a marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products.
E)the legal requirement that requires a specified degree of distinction between products to ensure an organization's intellectual property rights.

Accepted Answer

Product differentiation is a marketing strategy that involves a firm using different marketing mix actions (such as pricing, promotion, packaging, and distribution) to help consumers perceive the product as being different and better than competing products. It is a way to create a competitive advantage in the market and make the product stand out to consumers. Differentiation can be based on a variety of factors, including product features, quality, design, brand image, and customer service.

Question 4

An analysis of the pillow market using a market-product grid suggests that the most important segment to target is
A)side sleepers.
B)sleepers with sleep disorders, such as sleep apnea.
C)sleepers with annual incomes of $50,000 and over.
D)back sleepers.
E)stomach sleepers.

Accepted Answer

The market-product grid suggests that the most important segment to target is the one with the highest potential for growth and profitability. Side sleepers are the largest segment of the pillow market, accounting for 74% of all pillow users, according to a survey by the National Sleep Foundation. They also have specific needs for support and alignment of their head, neck, and spine. Therefore, targeting this segment with specialized pillows that cater to their needs can result in higher sales and customer loyalty.

Question 5

A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products is referred to as __________.
A)market penetration
B)points of difference
C)market differentiation
D)product positioning
E)product differentiation

Accepted Answer

The description given in the question clearly matches with the concept of product differentiation, which involves using different marketing mix actions (such as product features, design, packaging, advertising, etc.) to create a perceived difference and superiority compared to similar products in the market. Options A and C are related to market share and target audience segmentation, respectively, and do not specifically address product differentiation. Option B refers to identifying unique features or benefits that distinguish a product from competitors, but it is not a comprehensive marketing strategy by itself. Option D is closely related to positioning a product in the minds of target consumers, but it also involves various other marketing activities beyond differentiation. Therefore, the best choice is E, product differentiation.

Question 6

The process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization's marketing program.
A)self-regulatory industry standards
B)government regulations
C)top-level management
D)buyers' or market needs
E)controllable environmental factors

Accepted Answer

Market segmentation involves identifying and understanding the specific needs and characteristics of different groups of potential customers, allowing the organization to tailor their marketing efforts accordingly. By selecting specific segments as targets, the organization can create marketing programs that are more effective in meeting the needs and preferences of these groups, ultimately leading to increased sales and profits. Therefore, market segmentation is the key link between buyers' or market needs and the organization's marketing program.

Question 7

-Consider Figure 8-2 above. My Pillow uses infomercials and product demonstrations at events such as state fairs to market its line of pillows that are guaranteed to be "the most comfortable pillow you'll ever own!" Based on the market research above, which market-product combination should My Pillow target?
A)stomach sleeper-firm pillow
B)back sleeper-medium pillow
C)side sleeper-firm pillow
D)stomach sleeper-soft pillow
E)side sleeper-soft pillow

Accepted Answer

Based on the market research, side sleepers often prefer firm pillows for better neck support, making the side sleeper-firm pillow combination a suitable target for My Pillow.

Question 8

A market-product grid refers to
A)a visual representation of all products offered within a specific product class.
B)a framework used to compare the relative market share of one firm's product offerings to those of its competitors.
C)a technique that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.
D)a framework used to relate the market segments of potential buyers to products offered or potential marketing actions by an organization.
E)a technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products.

Accepted Answer

A market-product grid is a tool that helps a firm relate the market segments of potential buyers to the products offered or potential marketing actions by an organization. This grid can help a firm identify areas of opportunity for new products or marketing efforts based on market segments that are currently underserved or untapped.

Question 9

A market-product grid is a framework to relate
A)total estimated expenses for each product sold to each market segment.
B)total anticipated revenue for each product-market segment combination.
C)total anticipated profit for each product sold to each market segment.
D)the market segments of potential buyers to relative market share compared to the largest competitor.
E)the market segments of potential buyers to products offered or potential marketing actions by an organization.

Accepted Answer

A market-product grid is a framework that helps to identify all possible market segments for a product and potential marketing actions that can be taken to reach those segments. This involves relating the market segments of potential buyers to the products offered by an organization or potential marketing actions that can be taken to reach those segments. Therefore, E is the best choice.

Question 10

-In Figure 8-1 above, C represents which stage of the market segmentation process?
A)link needs to actions
B)identify market needs
C)establish a marketing protocol
D)execute marketing program actions
E)segment and select the target markets

Accepted Answer

The answer of 
-In Figure 8-1 above, C represents which...

Question 11

Zappos' original target market customers consisted of people who wanted all of the following EXCEPT:
A)to receive quick delivery of their merchandise.
B)to buy sustainable shoes, accessories, and clothing.
C)to shop online in the convenience of their own homes.
D)to allow for free returns of goods if dissatisfied.
E)to have a wide selection of shoes.

Accepted Answer

There is no mention of sustainable shoes, accessories, and clothing being a priority for Zappos' original target market.

Question 12

Apple's iPhone has a feature known as Apple Pay that lets you use your phone to pay for credit purchases, meaning you could leave your wallet at home. This feature sets the smartphone apart from its competitors and is part of Apple's strategy for
A)product segmentation.
B)market expansion.
C)product differentiation.
D)usage segmentation.
E)psychographic segmentation.

Accepted Answer

Apple Pay is an example of product differentiation, as it sets the iPhone apart from its competitors by offering a unique feature that other smartphones do not have.

Question 13

-In Figure 8-1 above, B represents which stage of the market segmentation process?
A)link needs to actions
B)identify market needs
C)establish a marketing protocol
D)execute marketing program actions
E)segment and select the target markets

Accepted Answer

The answer of 
-In Figure 8-1 above, B represents which...

Question 14

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a __________.
A)payoff table
B)cross-tabulation
C)market-product grid
D)growth-share matrix
E)product differentiation table

Accepted Answer

A market-product grid is a framework that shows the relationship between market segments of potential buyers and the products or marketing actions that an organization offers or plans to offer. This grid enables the organization to identify potential opportunities for growth and profitable product development. A payoff table is a tool used in decision analysis, while cross-tabulation is a statistical analysis technique. The growth-share matrix and product differentiation table are other marketing frameworks used to analyze a company's product portfolio and competitive positioning.

Question 15

To create a market-product grid for bed pillows, the most effective way to segment the market would be using
A)the age of the sleeper: less than 18 years of age, 18 to 44 years of age, or 45 years and older.
B)the sleeper's annual income: less than $25,000, $25,000 to $49,999, or $50,000 and over.
C)the sleeper's gender: male or female.
D)the time of sleep: day or night.
E)how the sleeper sleeps: side, back, or stomach.

Accepted Answer

How the sleeper sleeps (side, back, or stomach) would effectively segment the market for bed pillows as different sleep positions require different levels of support and firmness in a pillow. Age, income, and gender may not necessarily correlate with pillow preferences, while the time of sleep (day or night) is not a relevant factor in choosing a pillow.

Question 16

A market-product grid is a framework to relate the __________ to products offered or potential marketing actions by an organization.
A)market segments of potential buyers
B)marketing objectives of potential products
C)total anticipated revenue
D)total anticipated profit
E)market share of the closest competitor

Accepted Answer

The market-product grid is used to relate the market segments of potential buyers to the products offered or potential marketing actions by an organization.

Question 17

Alka-Seltzer was made originally as a hangover remedy that cured the headache and settled the stomach. Today, you can buy Original Alka-Seltzer, Extra Strength Alka-Seltzer, Alka-Seltzer Morning Relief (for morning headaches and fatigue), and Alka-Seltzer Heartburn Relief. Each Alka-Seltzer product has a unique formulation to relieve a specific malady that makes them more specialized than competing products. The maker of Alka-Seltzer is using
A)product variation.
B)product differentiation.
C)market sectioning.
D)product segmentation.
E)product base development.

Accepted Answer

The maker of Alka-Seltzer is using product differentiation, which means creating a unique and distinct product in the minds of consumers, to differentiate their products from competing brands. Alka-Seltzer offers various formulations to relieve specific maladies, giving consumers more specialized options. This sets them apart from competitors who may not offer as many specialized options.

Question 18

The purpose of market segmentation is to respond more effectively to the wants of groups of potential buyers in order to
A)maintain market share.
B)increase sales and profits.
C)assume social responsibility.
D)use the firm's resources most efficiently.
E)provide the best quality products on the market.

Accepted Answer

The purpose of market segmentation is to identify different groups of potential buyers with distinct needs and preferences, and to develop marketing strategies that cater to each group. This ultimately leads to increased sales and profits by targeting specific segments with tailored messages and offerings.

Question 19

The process of segmenting a market and selecting specific segments as targets is the link between the various buyers' or market needs and
A)industry standards.
B)government regulations.
C)top-level management.
D)controllable environmental factors.
E)the organization's marketing program.

Accepted Answer

The process of segmenting a market and selecting specific segments as targets is the link between the various buyers' or market needs and the organization's marketing program. This refers to the process of identifying the needs and preferences of different market segments and designing a marketing mix to meet those needs. Therefore, the correct answer is E, the organization's marketing program.

Question 20

A market-product grid is a framework to relate the market segments of potential buyers to
A)estimated expenses for products sold.
B)products offered or potential marketing actions by an organization.
C)total anticipated revenue.
D)total anticipated profit.
E)market share of the closest competitor.

Accepted Answer

A market-product grid is a tool used in marketing to identify various segments of potential buyers and their preferences/needs. It helps the organization to match their products/services and potential marketing actions to these specific segments. Thus, option B, i.e., products offered or potential marketing actions by an organization, is the correct answer. The other options are not related to the market-product grid.

Quiz 8: Market Segmentation, Targeting, and Positioning

-In Figure 8-1 above, Box A represents which stage of the market segmentation process?

Product differentiation refers to

An analysis of the pillow market using a market-product grid suggests that the most important segment to target is

A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products is referred to as __________.

The process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization's marketing program.

A market-product grid refers to

A market-product grid is a framework to relate

-In Figure 8-1 above, C represents which stage of the market segmentation process?

Zappos' original target market customers consisted of people who wanted all of the following EXCEPT:

Apple's iPhone has a feature known as Apple Pay that lets you use your phone to pay for credit purchases, meaning you could leave your wallet at home. This feature sets the smartphone apart from its competitors and is part of Apple's strategy for

-In Figure 8-1 above, B represents which stage of the market segmentation process?

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a __________.

To create a market-product grid for bed pillows, the most effective way to segment the market would be using

A market-product grid is a framework to relate the __________ to products offered or potential marketing actions by an organization.

The purpose of market segmentation is to respond more effectively to the wants of groups of potential buyers in order to

The process of segmenting a market and selecting specific segments as targets is the link between the various buyers' or market needs and

A market-product grid is a framework to relate the market segments of potential buyers to