question

which of the following is most likely to happen in a generic market

answer

different products that achieve the same purpose- generic brands

question

a ___ market is a market with broadly similar needs and sellers offering various and often diverse-ways of satisfying those needs

answer

generic

question

a generic market

answer

looks at markets broadly and from a customer's viewpoint

question

a transistor radio, an MP3 Player and a CD player might compete in the same

answer

generic market

question

a pencil, dictating machine and word processor might compete in the same

answer

generic market

question

a product market is a market in which

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final goods and services are offered for purchase by consumers, businesses and the public sector. focusing on the sale of finished goods, it does not include trading in raw or other intermediate materials customer type product type customer needs geographic area

question

which of the following is not true of a product market?

answer

information about which specific retailers will sell the product

question

a firms "relevant market for finding opportunities" should

answer

be bigger than the present product-market but not so large that it couldnt expand and still be an important competitor

question

the customer type component of the product market should include

answer

identify the final consumer/user of the product avoid treating intermediaries as a customer-type

question

customer type

answer

refers to the final consumer or user of the product type

question

why are product-market boundaries important?

answer

sets the limits of the market in which the product will compete

question

the disaggregating step in market segmentation involves

answer

brainstorming about very different solutions to various generic needs and selecting some broad areas- broad product markets- where the firm has some resources and experience

question

the marketing management team for Dada Motors brainstormed a variety of solutions to the problem of how to transport people in the world. This process came during the ___ step in the market segmentation process

answer

disaggregating

question

market segmentation

answer

is a two step process of naming broad product-markets and segmenting these broad product-markets in order to select a target market and develop suitable marketing mixes usually fails for first time users because they start with a whole mass market that targets one or two demographic characteristics to divide up the market.

question

given its interest in the broad product-market for "ready-to-eat, health-conscious snack foods", which of the following should the Good Health Foods Co. do First

answer

segment the product market to try to identify homogeneous submarkets and select an attractive target market

question

marketing managers want market segments to have each of the following characteristics EXCEPT

answer

as numerous as possible

question

Jazzy Tile Co. segmented its broad product-market and decided to aim at two different segments, offering each segment a different marketing mix. Jazzy Tile Co. is following the ___ appproach

answer

multiple target market approac

question

the combined target market approach

answer

segmenting the market and choosing two or more segments, then treating each as a separate target market needing a different marketing mix

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having segmented its broad target market, Blue Chip Inc. feels that three segments are similar enough that together they can be treated as one large target market and offered the same marketing mix

answer

combined target market

question

a producer of electrical components combined electrical supply wholesales and manufacturers of electrical equipment into the same market segment, one of several segments it was targeting. soon it lost the manufacturer's business to a competitor. it seems that the firm failed to consider the risk of

answer

too much aggregating

question

segments, in contrast to combiners

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try to aim at a homogeneous submarket of larger product-markets

question

which of the following statements about characteristics of market-oriented strategy planning is true?

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Once a broad product-market is segmented, marketing managers can use one of three approaches to market-oriented strategy planning: (1) the single target market approach, (2) the multiple target market approach, or (3) the combined target market approach.

question

which of the following statements iterates that combiners make compromises in developing the marketing mix

answer

try to increase the size of their target market by combining two or more segments- look at various submarkets for similarities than differences - extend or modify basic offering to appeal to these combined customers with only one marketing mix EX: bikes - for exercise and off road adventures - makes compromises with marketing mix because combiners dont try to fine tune each element of the marketing mix to appeal to each customer

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which of the following tasks should a segmenter be involved in

answer

fine tune their marketing mixes for each target market hope to increase sales by getting a much larger share of the business in the markets they target build close relationships with customers so there really is no competition

question

segmenting dimensions

answer

behavioral: needs, benefits sought, thoughts, purchase relationship geographic: region of the world, region in country, size of city demographic: income, sex, age, family cycle of life, occupation, education, social class homogeneous within: the customers in different segments should be as similar as possible in respect to their likely responses to marketing mix variables in their segmenting demension heterogeneous within: the customers in different segments should be as different as possible with respect to their likely responses to marketing mix variable in their segmenting dimension substantial: the segment should be big enough to be profitable operational: the segmenting dimension should be useful for identifying customers and deciding on marketing mix variables MOST IMPORTANT

question

target marking dimensions should influence all the following strategy decisions except

answer

identify the core benefits that mist be offered to everyone in a product-market deciding whether they want to serve customers they really dont want to serve buyer personas

question

which of the following would be a determining dimension for a customer who needs to buy a marketing textbook

answer

demographic

question

strategy decisions pertaining to product features, packaging, product line assortment and branding will be most affected by which target market dimension

answer

behavioral needs and attitudes of consumers

question

behavioral segmenting dimensions include

answer

needs, benefits sought, thought, purchase relationship, rate of use, brand familiarity, RATHER THAN DEMOGRAPHIC: income, gender, age, family life cycle, education, ethnicity

question

Coorgs Coffee Inc. has substantial market share in south america but seeks growth. Its managers want to ex[and into north america and target cities with populations of 50-99k people. identify the segmenting dimension most probable being used

answer

geographic

question

when hallmark stores offer a product line that includes everything you need to have a spiderman theme birthday party, what is the primary segmenting dimension they are using

answer

behavioral - benefits sought

question

deciding whether a group of customer should be included in a target market is the purpose of ___ dimension

answer

demographic

question

compared to qualifying dimensions, determining dimensions

answer

qualifying: relevant to including customer type in a product market, help identify core benefits. Ex. gas mileage determining: affect the customers purchase of a product or brand, can be further segmented. Ecx. safety, ingredients in a product

question

which of the following is most likely to be a determining dimension with respect to purchase of a particular brand of coffee

answer

...

question

segmenting international markets (as contrasted with domestic markets)

answer

common international segmentation procedure classifies prospect countries geographically on a single dimension or on a set of multiple socio-economic, political, criteria available from secondary data sources (country as segments - aggregate segmentation) two stage international segmentation: -macro-classification of countries into different groups -micro: consist of segmenting consumers for each country cluster identified into the first step disaggregate international consumer segmentation: the focus is the individual consumer, one of more segmentation bases chosen and consumer segments then identified terms of consumer similarities with respect to the chosen base. they key problem is that targeting a consumer segment that is geographically dispersed can become a logistical nightmare

question

when moving to international markets, some firms insist that local operations and decisions should be handled by natives because

answer

the natives have a feel for the market

question

clustering techniques applies to segmenting markets

answer

usually require computers to group people based on date from market research

question

alpine auto repair keeps a record of customer oil changes and sends a reminded postcard to its customers when its time for the next oil change. this is an example of a ___ system

answer

customer relationship management

question

when a customer orders a book at amazon, the online retailer recommends related books that have been purchased by other customers who have bought that book. amazon is using a(n)

answer

positioning / clustering technique

question

customer relationship management helps consumer markets

answer

keep profitable customers and maximize lifetime revenue from them

question

when a company becomes aware that a new product is being test marketed by one of its competitors, it decides to create a similar product and rush it to market. this company is a

answer

me-too imitator

question

positioning is a marketing management aid that refers to

answer

how customers think about proposed and or present brands in the market

question

positioning

answer

often makes use of techniques such as perceptual mapping managers make graphs for positioning decisions by asking consumers to make judgments about different brands helps marketing managers know how customers view the firms offering

question

positioning might cause a marketing manager to

answer

make a graph asking consumers to make judgments based on other brand

question

which of the following is false about positioning

answer

issues are especially important when competitors in a market are highly dissimilar

question

customers have typically ___. business-to-business markets, with very large customers, have typically ___

answer

........

question

when pepsi asked its advertising agency to develop an advertising program for its mountain dew soft drink, it gave the agency a statement describing the age and fun-loving spirit of its target market and the one of a kind citrus flavor of the new product, what type of statement is this?

answer

positioning

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