Question 1

The group born between 1968 and 1979,now generally in their early 30s to early 40s are referred to as Generation Y.

Accepted Answer

A) True 
 B)False

Question 2

A product that is purchased for personal use by an ultimate consumer is called a(n) _____.

Accepted Answer

A)  target market
B)  market segmentation
C)  cohort effect
D)  primary metropolitan statistical area
E)  differentiated marketingF) concentrated marketingG) micromarketingH) positioning mapI) VALSJ) AIO statementK) core regionL) consumer productM) demographic segmentationN) Praedo's lawO) psychographic segmentationP) geographic information systemsQ) positioningR) geographic segmentationS) business productT) mass marketingU) G) and J)
V) G) and L)

Question 3

A company that chooses to focus its efforts on satisfying only one market segment for profit is using a(n) _____ strategy.

Accepted Answer

A)   niche marketing
B)   societal marketing
C)   undifferentiated marketing
D)   mass marketingE) A) and B)
F) All of the above

Question 4

Segmentation by benefits sought is a product-related segmentation approach that:

Accepted Answer

A)   determines the marketer's effectiveness in satisfying the consumer.
B)   measures brand loyalty and consumer perception.
C)   re-evaluates customer reactions post-consumption.
D)   focuses on the attributes that people seek in a product.E) A) and B)
F) A) and C)

Question 5

American Express,a large firm with many financial products,recently introduced two new credit cards designed for very specific markets: The Knot,for engaged couples,and The Nest,for newlyweds.This is an example of _____ marketing.

Accepted Answer

A)   undifferentiated
B)   concentrated
C)   mass
D)   societalE) A) and D)
F) B) and C)

Question 6

The four basic determinants of a market-specific segmentation strategy include company resources,competitors' strategies,stage in the product lifecycle,and:

Accepted Answer

A)   product demand.
B)   product homogeneity.
C)   environmental constraints.
D)   organizational efficiencies.E) B) and C)
F) A) and B)

Question 7

Socioeconomic market segmentation is another name for _____ segmentation.

Accepted Answer

A)   product-related
B)   demographic
C)   psychographic
D)   geographicE) A) and B)
F) A) and C)

Question 8

The revised VALS system categorizes consumers by their occupations.

Accepted Answer

A) True 
 B)False

Question 9

Not-for-profit organizations practice market segmentation.

Accepted Answer

A) True 
 B)False

Question 10

Placing a product at a certain point or location within a market in the minds of prospective buyers is known as market mapping.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following factors falls under the resource dimension of the VALS system?

Accepted Answer

A)   Social attitudes
B)   Primary motivation
C)   Eagerness to buy
D)   Political viewsE) A) and B)
F) A) and C)

Question 12

Psychographic segmentation is the most common method of market segmentation.

Accepted Answer

A) True 
 B)False

Question 13

Business products contribute directly or indirectly to the production of other goods and services for resale.

Accepted Answer

A) True 
 B)False

Question 14

The practice of dividing an overall market into homogeneous groups based on the location is called _____.

Accepted Answer

A)  target market
B)  market segmentation
C)  cohort effect
D)  primary metropolitan statistical area
E)  differentiated marketingF) concentrated marketingG) micromarketingH) positioning mapI) VALSJ) AIO statementK) core regionL) consumer productM) demographic segmentationN) Praedo's lawO) psychographic segmentationP) geographic information systemsQ) positioningR) geographic segmentationS) business productT) mass marketingU) O) and S)
V) C) and F)

Question 15

A company that practices differentiated marketing can generate more sales compared to those generated by undifferentiated marketing.

Accepted Answer

A) True 
 B)False

Question 16

Core regions are locations where marketers get majority of their sales.

Accepted Answer

A) True 
 B)False

Question 17

Who are baby boomers? Why do marketers target this segment?

Accepted Answer

Baby boomers are individuals born betwee...

Question 18

What is family lifecycle? Why do marketers segment their markets by family lifecycle stages?

Accepted Answer

Family lifecycle is the process of famil...

Question 19

A metropolitan statistical area (MSA)is a freestanding urban area with a population in the urban center of at least 50,000 and a total MSA population of 100,000 or more.

Accepted Answer

A) True 
 B)False

Question 20

Differentiate between a consumer product and a business product.Give examples.

Accepted Answer

Consumer products are products bought by...

Exam 9: Market Segmentation, Targeting, and Positioning

The revised VALS system categorizes consumers by their occupations.

Correct AnswerverifiedShow Answer

Business products contribute directly or indirectly to the production of other goods and services for resale.

Correct AnswerverifiedShow Answer

A company that practices differentiated marketing can generate more sales compared to those generated by undifferentiated marketing.

Correct AnswerverifiedShow Answer

Not-for-profit organizations practice market segmentation.

Correct AnswerverifiedShow Answer

Segmentation by benefits sought is a product-related segmentation approach that:

Correct AnswerverifiedShow Answer

Who are baby boomers? Why do marketers target this segment?

Correct AnswerverifiedBaby boomers are individuals born betwee...View AnswerShow Answer

Core regions are locations where marketers get majority of their sales.

Correct AnswerverifiedShow Answer

The group born between 1968 and 1979,now generally in their early 30s to early 40s are referred to as Generation Y.

Correct AnswerverifiedShow Answer

A product that is purchased for personal use by an ultimate consumer is called a(n) _____.

Correct AnswerverifiedShow Answer

A metropolitan statistical area (MSA)is a freestanding urban area with a population in the urban center of at least 50,000 and a total MSA population of 100,000 or more.

Correct AnswerverifiedShow Answer

A company that chooses to focus its efforts on satisfying only one market segment for profit is using a(n) _____ strategy.

Correct AnswerverifiedShow Answer

American Express,a large firm with many financial products,recently introduced two new credit cards designed for very specific markets: The Knot,for engaged couples,and The Nest,for newlyweds.This is an example of _____ marketing.

Correct AnswerverifiedShow Answer

Socioeconomic market segmentation is another name for _____ segmentation.

Correct AnswerverifiedShow Answer

Placing a product at a certain point or location within a market in the minds of prospective buyers is known as market mapping.

Correct AnswerverifiedShow Answer

Psychographic segmentation is the most common method of market segmentation.

Correct AnswerverifiedShow Answer

The four basic determinants of a market-specific segmentation strategy include company resources,competitors' strategies,stage in the product lifecycle,and:

Correct AnswerverifiedShow Answer

The practice of dividing an overall market into homogeneous groups based on the location is called _____.

Correct AnswerverifiedShow Answer

Which of the following factors falls under the resource dimension of the VALS system?

Correct AnswerverifiedShow Answer

What is family lifecycle? Why do marketers segment their markets by family lifecycle stages?

Correct AnswerverifiedFamily lifecycle is the process of famil...View AnswerShow Answer

Differentiate between a consumer product and a business product.Give examples.

Correct AnswerverifiedConsumer products are products bought by...View AnswerShow Answer

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Baby boomers are individuals born betwee...
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Family lifecycle is the process of famil...
View Answer

Correct Answer
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Consumer products are products bought by...
View Answer