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Why would an organization produce a single product or service and then attempt to sell it to two or more market segments?

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An organization would produce a single p...

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The third step in segmenting and targeting markets that link customer needs to marketing actions is to __________.


A) group potential buyers into segments
B) group products to be sold into categories
C) select target markets
D) develop a market-product grid and estimate size of markets
E) take marketing actions to reach target markets

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The segmentation strategy used by Prince Sports today is


A) geographic.
B) behavioral.
C) psychographic.
D) socioeconomic.
E) resource-based.

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Explain what a market-product grid is and how it is used.

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A market-product grid is a framework to ...

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Differentiation positioning requires a product to


A) emphasize unique product attributes to compete directly with competitors.
B) compete directly with competitors on similar product attributes in the same target market.
C) compete with competitors on similar product attributes but in a different market.
D) seek a less-competitive, smaller market niche in which to locate a brand.
E) develop marketing actions to move a product or brand to an ideal position.

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Which of the following is a criterion used for selecting a target market?


A) similarity of needs of potential buyers within a segment
B) difference of needs of buyers between segments
C) expected growth of a segment
D) feasibility of a marketing action to reach a segment
E) simplicity and cost of assigning potential buyers to segments

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When a telemarketer calls to sell a consumer life insurance, the last questions asked is what category does the person's household income falls into (less than $50,000; $50,000 to $99,999; and $100,000 and over) . When the telemarketer asks about household income, this indicates the use of which type of consumer variable the firm is using to segment its market?


A) usage
B) behavior
C) demographic
D) buying situation
E) psychographic

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Product repositioning refers to


A) the place a product offering occupies in consumers' minds on important attributes.
B) using a market-product grid to place products in their appropriate places on that grid to identify potential untapped markets.
C) changing the place an offering occupies in consumers' minds relative to competitive products.
D) the practice of selling off a firm's least successful product line and redirecting that revenue into a totally new product.
E) the competitive advantage of one product over another.

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All of the following are examples of increased customer value from organizational synergy EXCEPT:


A) lower prices
B) increased brand awareness
C) more products
D) improved distribution
E) improved quality of existing products

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A recent study by the Aberdeen Group analyzed which segmentation bases were used by the 20 percent most profitable organizations of the 220 surveyed. Which segmentation base did these organizations use the most?


A) behavioral
B) psychographic
C) geographic
D) demographic
E) product

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A nonprofit food bank was handing out food to anyone who requested it on a weekly basis. It now wants to give free food only to people who go hungry on a daily basis. This will be the market segment it targets. How does the formation of its market segments differ from the strategy used for a retail store?

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There is one key difference between for-...

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One marketing action that can be taken to sell a single product or service to multiple market segments is to


A) develop and produce another version of the product.
B) manufacture products that appeal to different markets.
C) develop separate promotional campaigns.
D) purchase another firm that has additional products that would appeal to multiple markets.
E) issue stock to fund additional research and development for new products.

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You can go to your nearest Hallmark card store and buy a birthday greeting card for a friend and pay $4.50. Or, you can buy a Hallmark card from its new $0.99 line of greeting cards, made with lesser-quality materials but just as sentimental, that are sold at Barnes and Noble bookstores. This is an example of


A) mass customization.
B) organizational synergy.
C) one product and multiple market segments.
D) price discrimination.
E) a Tiffany/Walmart strategy.

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Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as


A) product placement.
B) perceptual mapping.
C) product positioning.
D) product repositioning.
E) product differentiation.

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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.

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What are the criteria used to select target markets?

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There are two different kinds of criteri...

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-In the Apple market-product grid shown above for its personal computer line, the iMac is popular among all the segments Apple can target. This allows Apple to enjoy __________. A) segmentation synergies B) marketing synergies C) product synergies D) the 80/20 rule E) frequency marketing -In the Apple market-product grid shown above for its personal computer line, the iMac is popular among all the segments Apple can target. This allows Apple to enjoy __________.


A) segmentation synergies
B) marketing synergies
C) product synergies
D) the 80/20 rule
E) frequency marketing

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Explain the difference between mass customization and build-to-order.

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Mass customization involves tailoring go...

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The ultimate criterion for an organization's marketing success is that __________ as a result of increased synergies.


A) costs decrease
B) market share increases
C) product deficiencies decrease
D) customers should be better off
E) new products flourish

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Two key types of synergies are __________.


A) supplier and distributor synergies
B) market and product synergies
C) industry-dominated and consumer-dominated
D) product and production synergies
E) consumer and market synergies

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Showing 101 - 120 of 232

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