question

Market opportunities are areas where the company believes that customer needs and opportunities are being satisfied

answer

False

question

A market can rarely be viewed as one large, homogeneous group of customers; rather, it consists of many heterogenous groups or segments

answer

True

question

Dominating channels of distribution is one way of creating a competitive advantage

answer

True

question

Marketers often go after the entire market with one product, brand, or service offering to create the maximum impact

answer

False

question

In a typical target marketing process, the stage of segmenting the market is immediately followed by positioning one's product or service through effective marketing strategies

answer

False

question

Target market identification isolates consumers with similar lifestyles, needs, and the like, and increases the knowledge of their specific requirements

answer

True

question

The more marketers segment the market, the less precise is their understanding of it

answer

False

question

In the geographic segmentation approach, markets are divided into units based on consumers' occupations and lifestyles

answer

False

question

When a market is segmented bases on how aware and informed the consumers are, the variable used to choose a marketing approach is product knowledge

answer

True

question

In the psychographic approach to segmentation, determination of lifestyles is usually babies on an analysis of the activities, interests and opinions (AIOs) of consumers

answer

True

question

Segmenting the market based on consumers' product or brand usage and the degree of use is an example of behavioristic segmentation

answer

True

question

differentiated marketing is used when the firm selects one segment and attempts to capture a large share of this market

answer

False

question

The consumer approach positions a product by comparing it and the benefit it offers against those offered by competitors

answer

False

question

Premium brands positioned at the high end of the market usually use the price/quality approach to positioning

answer

True

question

While positioning a product class, marketers only position against brands and not against other product categories

answer

False

question

Repositioning of a product usually occurs because of declining or stagnant sales

answer

True

question

Strong symbolic features and social and psychological meaning may be more important than functional utility for many products

answer

True

question

Brand equity refers to the tangible assets earned through a product's functional purpose

answer

False

question

A marketer with an integrated marketing communications (IMC) perspective is likely to link high relative ad expenditures with premium prices, and low relative ad expenditures with low prices

answer

True

question

Trade advertising focuses on sales promotion efforts directed toward the ultimate consumer

answer

False

question

According to he marketing and promotions process model, the marketing process begins with the:

answer

Development of a marketing strategy

question

According to the marketing and promotions process model, in which of the following stages does the company decide the product or service areas and particular markets where it wants to compete?

answer

Development of a marketing strategy and analysis

question

____ is a detailed assessment of the current marketing conditions facing the company, its product lines or its individuals brands

answer

Situation analysis

question

Which of the following is best defined as areas where there are favorable marketing trends, consumer needs and wants are not being satisfied, and where a company thinks its can compete effectively?

answer

Market opportunities

question

A situational analysis:

answer

Includes an assessment of individual brands

question

During a routine market study conducted by CL foods, it was noted that Chinese and Indian food products were in high demand in American society. In order to take advantage of such a demand, CL foods manufactured and sold these food items locally. In this scenario, the company is taking advantage of a ____

answer

Market opportunity

question

FunZone Inc identified and developed a SmartCard that can be used at fair grounds to make the ticketing process easier. The company found that the existing system was complicated and highly time-consuming. The SmartCard was easy to operate and each swipe would deduct the cost of a ride automatically. According to the given scenario, FunZone has recognized a:

answer

Market opportunity

question

There are several medicines that relive allergy related symptoms by only Sensitine comes in a quick dissolving form that can be easily swallowed without water. The manufacturer of Sensitine hopes the fact that it dissolved and enters the system quicker than other brands will create a:

answer

Competitive advantage

question

Offering quality products that command a premium price, providing superior customer service, having the lowest production costs and lower prices, or dominating channels of distribution are ways of:

answer

Achieving competitive advantage

question

_____ is defined as something unique or special a firm possesses or does that gives it an edge over other firms in a similar industry

answer

Competitive advantage

question

John & Bauer Inc, manufacturers of health drugs, are the manufacturers of a painkiller called JB Revive. The painkiller is unique as it contains calcium, and it is quite unlike any other painkiller in the market. The addition of calcium led to an increase in the sales of the medicine as well. In the scenarios, the addition of calcium gives the company a:

answer

Competitive advantage

question

The first step in the the target marketing process is to:

answer

Identify markets with unfulfilled needs

question

The market segmentation process:

answer

Divided a market into distinct groups that will respond similarly to marketing actions

question

Directing a company's efforts toward one or more groups of customers who share common needs is known as:

answer

Market segmentation

question

Dividing the market into units such as nation, states, town, counties, or even neighborhoods is known as:

answer

Geographic segmentation

question

Which of the following is a primary variable of demographic segmentation?

answer

Social class

question

Division of the market based on age, sex, family size, income and other measure able characteristics is known as :

answer

Demographic segmentation

question

Enliven, a sports drink manufacturer, has identified its preferred target market as men between the ages of 18 and 22 who are currently in high school or college and active in sports. Which of the following types of segmentation is Enliven using in their scenario?

answer

Demographic and Socioeconomic

question

Diving the market on the basis of personality and/or lifestyles is referred to as ____

answer

Psychographic segmentation

question

____ divides a market on the basis of life cycles

answer

Psychographic segmentation

question

With respect to psychographic segmentation of markets, AIO stands for:

answer

Activities, interests and opinions

question

____ segmentation divides consumers into groups according to their usage, loyalties or buying responses to a product

answer

Behavioristic

question

Degree of usage as a basis of segmentation is best reflected by:

answer

The 80-20 rule

question

The 80-20 rule states that:

answer

Around 80 percent of the firms sales comes from 20 percent of the customers

Chapter 2 The Role of IMC in the Marketing Process – Flashcards

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