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Principles of Marketing questions

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Question;1) When a company identifies the parts of the market it can;serve best and most profitably, it is practicing ________.;A) adapted marketing;B) mass marketing;C) market targeting;D) segmenting;E) differentiation;2) What are the four steps, in order, to designing a;customer-driven marketing strategy?;A) market segmentation, differentiation, positioning, and;targeting;B) positioning, market segmentation, mass marketing, and;targeting;C) market segmentation, targeting, differentiation, and positioning;D) market alignment, market segmentation, differentiation;and market positioning;E) market recognition, market preference, market targeting;and market insistence;3) Even though several options are available at any one time;there ________ to segment a market.;A) is one single best way;B) is no single way;C) is a most effective way;D) are limited ways;E) are four ways;4) Your firm has decided to localize its products and;services to meet local market demands. A good approach to use would be;segmentation.;A) geographic;B) benefit;C) end-use;D) customer;E) image;5) Pendergraff Pet Supplies divides the pet market according;to the owners' race, occupation, income, and family life cycle. What type of;segmentation does Pendergraff use?;A) geographic;B) behavioral;C) lifestyle;D) demographic;E) psychographic;6) Which of the following is the most popular method for;segmenting markets?;A) demographic;B) gender;C) psychographic;D) behavioral;E) geographic;7) Demographic variables are frequently used in market;segmentation because they ________.;A) create smaller segments than other methods do;B) create more easily reached segments than other methods do;C) do not involve stereotypes;D) are easy to measure in comparison to many other methods;E) involve fewer attributes to consider than other methods do;8) Marketers must be most careful to guard against which of;the following when using age and life-cycle segmentation?;A) underestimating;B) stereotyping;C) traditional marketing;D) cultural bias;E) gender bias;9) When Positive Image, Inc. caters to clothing, cosmetics;and toiletries markets, it most likely uses which type of segmentation?;A) readiness;B) gender;C) behavior;D) occasions;E) geographic;10) Marketers of automobiles, financial services, and travel;are most likely to use which of the following types of segmentation?;A) gender;B) income;C) occasion;D) usage rate;E) readiness stage;11) Lifestyle characteristics and personality characteristics;are two types of variables used in ________ segmentation.;A) demographic;B) behavioral;C) social class;D) psychographic;E) user status;12) The division of buyers into groups based on their knowledge;attitudes, uses, or responses to a product is ________ segmentation.;A) behavioral;B) psychographic;C) age and life cycle;D) demographic;E) geographic;13) Which type of segmentation centers on the use of the word;when, such as when consumers get the idea to buy, when;they actually make their purchase, or when they use the purchased item?;A) behavioral;B) psychographic;C) occasion;D) impulse;E) emergency;14) Markets can be segmented into groups of nonusers;ex-users, potential users, first-time users, and regular users of a product.;This method of segmentation is called ________.;A) user status;B) usage rates;C) benefit;D) behavior;E) loyalty status;15) Your current assignment at York Foods is to find the;major benefits people look for in product classes, the kinds of people who look;for each benefit, and the major brands that deliver each benefit. What is this;segmentation method called?;A) benefit;B) behavioral;C) age and life cycle;D) psychographic;E) demographic;16) Shampoo marketers rate buyers as light, medium, or heavy;product users. This is ________ segmentation.;A) benefit;B) user status;C) usage rate;D) psychographic;E) occasions;17) Consumers can show their allegiance to brands, stores, or;companies. Marketers can use this information to segment consumers by ________.;A) user status;B) loyalty status;C) store type;D) brand preference;E) usage rate;18) By studying its less loyal buyers, a company can detect;which brands are most ________ its own.;A) competitive with;B) used with;C) overlooked with;D) similar to;E) complementary to;19) Many firms make an effort to identify smaller;better-defined target groups by using ________.;A) differentiation;B) concentrated marketing;C) multiple segmentation bases;D) positioning;E) mass marketing;20) Consumer and business marketers use many of the same;variables to segment markets. Business marketers use all of the following;EXCEPT ________.;A) operating characteristics;B) purchasing approaches;C) situational factors;D) personal characteristics;E) brand personalities;21) As in consumer segmentation, many marketers believe that;and ________ segmentation provide the best basis for segmenting;business markets.;A) geographic, demographic;B) user status, user loyalty;C) benefits, buying behavior;D) age and life-cycle, psychographic;E) income, usage rate;22) International Drilling Company segments its foreign;markets by their overall level of economic development. This firm segments on;what basis?;A) political factors;B) legal factors;C) geographic factors;D) economic factors;E) cultural factors;23) Lexus targets wealthy consumers with similar needs and;buying behaviors, even though the consumers are located in different countries.;This is an example of ________.;A) intermarket segmentation;B) loyalty segmentation;C) life-cycle segmentation;D) targeting segmentation;E) psychographic segmentation;24) Cross-market segmentation is also known as ________.;A) intermarket segmentation;B) international segmentation;C) regional segmentation;D) mass-market segmentation;E) micromarketing;25) When the size, purchasing power, and profiles of a market;segment can be determined, it possesses the requirement of being ________.;A) measurable;B) accessible;C) substantial;D) actionable;E) observable;26) When a business market segment is large or profitable;enough to serve, it is termed ________.;A) measurable;B) accessible;C) substantial;D) actionable;E) differentiable;27) When an effective program can be designed for attracting;and serving a chosen segment, the segment is best described as ________.;A) accessible;B) measurable;C) reachable;D) actionable;E) differentiable;28) You have discovered that the segments you are targeting;are conceptually distinguishable and respond differently to different marketing;mix elements and programs. These segments are ________.;A) accessible;B) measurable;C) reachable;D) differentiable;E) observable;29) The markets you have chosen to serve in four western;states can be effectively reached and served. You would tell the marketing;manager that these segments are ________.;A) measurable;B) accessible;C) substantial;D) actionable;E) profitable;30) To evaluate the different market segments your company;serves, you would look at all of these factors EXCEPT which one?;A) segment size;B) segment growth;C) segment structural attractiveness;D) company values;E) company resources;31) Barney Hopkins has compiled a list of things that make;segments more attractive. Which one of the following items should NOT be on the;list?;A) relative power of buyers;B) lack of powerful suppliers to control prices;C) few substitute products;D) competition with superior resources;E) financial resources;32) Which of the following is NOT one of the reasons a;segment would be less attractive to a company?;A) strong competitors;B) substitute products;C) concentrated market;D) power of buyers;E) power of suppliers;33) In general, a company should enter only segments in which;it can ________ and ________.;A) offer lower prices, ship faster;B) offer superior value, gain advantages over competitors;C) offer superior value, ship faster;D) gain advantages over competitors, mass market its products;E) offer lower prices, develop customer loyalty;34) Mass marketers, such as Target and Venture Stores, often;ignore market segment differences and target the whole market with one offer.;What is their approach to segmenting?;A) undifferentiated marketing;B) differentiated marketing;C) target marketing;D) concentrated marketing;E) micromarketing;35) The 55-year-old baby boomers share common needs in music;and performers. When a music company decides to serve this group, the group is;called a(n) ________.;A) market segment;B) target market;C) niche market;D) micro market;E) undifferentiated market;36) When New Port Shipping uses segmented marketing, it;targets several segments and designs separate offers for each one. This;approach is called ________ marketing.;A) undifferentiated;B) differentiated;C) target;D) individual;E) niche;37) Developing a strong position within several segments;creates more total sales than ________ marketing across all segments.;A) undifferentiated;B) differentiated;C) niche;D) target;E) individual;38) ByWay Ventures chose a differentiated marketing strategy.;The company had to weigh ________ against ________ when selecting this;strategy.;A) extra research, costs;B) sales analysis, sales;C) increased sales, increased costs;D) geographic segmentation, demographic segmentation;E) attitudes, perceptions;39) P&G sells six brands of laundry detergent in the;United States, each designed for one of six laundry segments P&G has;identified. Together, these six brands take 62% of market share. Which of the;following is a disadvantage of P&G's differentiated marketing strategy?;A) lost sales that would have been made with an;undifferentiated marketing strategy across all segments;B) lost customer loyalty due to lack of brand loyalty;C) increased costs for separate marketing plans for each;brand;D) other suppliers controlling pricing;E) lack of resources to succeed in an attractive segment;40) Successful niche marketing is most dependent on a firm's;and its ________.;A) promotions strategy, services;B) individual relationships with customers, positioning;C) superior products, value network partners;D) greater knowledge of customers' needs, special reputation;E) competitive advantage in comparison to mass-market;companies, affordable pricing;41) Using concentrated marketing, the marketer goes after a;share of ________.;A) small, a small market;B) small, a large market;C) large, one or a few niches;D) large, the mass market;E) moderate, local;42) Today, the low cost of setting up shop ________ makes it;even more profitable to serve very small niches.;A) in malls in major cities;B) in central business districts;C) on the Internet;D) near major competitors;E) far from competitors;43) Which of the segmenting strategies carries;higher-than-average risks in consumer markets?;A) concentrated;B) mass;C) differentiated;D) undifferentiated;E) multiple-segment;44) As You Like It, Inc. customizes its offers to each;individual consumer. This practice of tailoring products and marketing programs;to suit the tastes of specific individuals and locations is referred to as;marketing.;A) niche;B) mass;C) differentiated;D) undifferentiated;E) micro;45) ________ tailors brands and promotions to the needs and;wants of specific cities, neighborhoods, and even stores.;A) Undifferentiated;B) Differentiated marketing;C) Niche marketing;D) Local marketing;E) Individual marketing;46) Which of the following is the narrowest marketing;strategy?;A) segmented strategy;B) local marketing;C) differentiated marketing;D) mass marketing;E) undifferentiated marketing;47) Which of the following is NOT a drawback of local;marketing?;A) It can drive up manufacturing costs.;B) It can drive up marketing costs by reducing economies of;scale.;C) It can create logistics problems.;D) A brand's overall image might be diluted through too much;variation.;E) Supporting technologies are not available.;48) When Walmart customizes its merchandise store by store to;meet shopper needs, it is practicing ________.;A) niche marketing;B) psychographic marketing;C) local marketing;D) social segmentation;E) individual marketing;49) When a company interacts one-on-one with large numbers of;customers to create customer-unique value by designing products and services;tailor-made to individual needs, it is following ________.;A) micromarketing;B) mass marketing;C) mass customization;D) differentiated marketing;E) localization;50) When choosing a target marketing strategy, many factors;need to be considered. Which of the following does your text NOT mention as;important?;A) company resources;B) degree of product variability;C) product life-cycle stage;D) product cost;E) competitors' marketing strategies;51) When competitors use differentiated or concentrated;marketing, ________ marketing can be disastrous.;A) differentiated;B) undifferentiated;C) concentrated;D) customized;E) localized;52) Target marketing sometimes generates controversy and;concern. Issues usually involve the targeting of ________ consumers with;products.;A) elderly, durable;B) young, appealing;C) vulnerable, marketing;D) vulnerable, potentially harmful;E) unexpected, deceptive;53) It is considered socially irresponsible when the;marketing of adult products spills over into the ________ segment.;A) elderly;B) child;C) animal;D) minority;E) senior;Answer;54) Cigarette, beer, and fast-food marketers have generated;much controversy in recent years by their attempts to target ________.;A) urban professionals;B) the elderly;C) inner-city minorities;D) the poor in foreign markets;E) suburban adults;55) Most attempts to target children and minority groups;provide ________ to target customers.;A) benefits;B) education;C) disadvantages;D) harm;E) expenses;56) In target marketing, the issue of social responsibility;is not really who is targeted, but rather ________ and for ________.;A) why, what;B) how, what;C) why, how long;D) where, how long;E) how, how long;57) Which group determines a product's position relative to;competing products?;A) manufacturers;B) wholesalers;C) retailers;D) consumers;E) suppliers;58) A product's position is based on important attributes as;perceived by ________.;A) suppliers;B) competitors;C) market conditions;D) consumers;E) managers;59) Which of the listed choices is NOT a positioning task?;A) identifying a set of possible competitive advantages upon;which to build a position;B) surveying frequent users of the product;C) selecting an overall positioning strategy;D) effectively communicating and delivering the chosen;position to the market;E) selecting the right competitive advantages;60) A company or store gains a(n) ________ by differentiating;its products and delivering more value.;A) competitive advantage;B) positioning advantage;C) cost advantage;D) efficiency advantage;E) synergy;61) A company or market offer can be differentiated along the;lines of product, image, services, channels, or ________.;A) labeling;B) packaging;C) people;D) customer service;E) reputation;62) Which type of differentiation is used to gain competitive;advantage through the way a firm designs its distribution coverage, expertise;and performance?;A) services differentiation;B) channel differentiation;C) people differentiation;D) product differentiation;E) price differentiation;63) When firms use symbols, colors, or characters to convey;their personalities, they are using ________ differentiation.;A) image;B) people;C) company;D) reputation;E) subliminal;64) Ad man Rosser Reeves believes that firms should develop a;USP for each brand and stick to it. What does USP stand for?;A) unique selling product;B) unique services practice;C) unique sales pitch;D) unique selling proposition;E) unique strategic practice;65) A brand difference is worth establishing and promoting to;the extent that it satisfies all of the criteria below EXCEPT which one?;A) important;B) distinctive;C) divisible;D) affordable;E) noticeable

 

Paper#47336 | Written in 18-Jul-2015

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