Market _ is one of the most important concepts in marketing

28 Jun Market _ is one of the most important concepts in marketing

Question
Chapter 5

1. Market _________ is one of the most important concepts in marketing and refers to the identification of distinct markets.

A) Research

B) Segmentation

C) Development

D) Penetration

2. The primary reason for studying consumer and _________ is to provide bases for effective segmentation and a large portion of marketing research is concerned with segmentation.

A) Their relationship with the organization

B) The brand preferences

C) Organizational buyer behavior

D) Employer relationship

3. Deciding on how to segment a market prior to conducting marketing research is commonly referred to as ___________ segmentation.

A) A priori

B) Post-hoc

C) Selective

D) Autocratic

4. Which of the following statements about market segmentation is true?

A) Market segmentation is not needed if the organization plans to adopt a mass marketing strategy

B) Market segmentation analysis proceeds products positioning, the cornerstone of sound marketing planning

C) The logic of market segmentation is quite simple and is based on the idea that a single product item can seldom meet the needs and wants of all consumers

D) According to the model of market segmentation analysis, the process begins with the determination of consumer needs and wants

5. Jan Karon sold more than 10 million copies of her novels about Mitford, a fictitious town in North Carolina. Karon’s series of books focus on small town life as seen through the eyes of an Episcopal priest who is honest and lovable and who believes strongly in God and the promotion of godly virtues. Viking Press, publisher of the books, initially determined the market segmentation strategy to use for the Mitford books was to target people who expressed a desire for Christian-value-based entertainment and who shopped at Christian bookstores. It conducted marketing research to determine the sizes and other characteristics of these markets across the U.S. Viking Press used ______________ segmentation approach.

A) A priori

B) De facto

C) Post hoc

D) Ad hoc

6. To delineate its current situation a company should conduct a _____________.

A) Priori analysis

B) Mix contingency plans

C) SWOT analysis

D) Marketing survey

7. An entrepreneur has developed self-service soda-bottling machines. Customers can fill their own plastic soda bottles with 18 regular and diet flavors by placing empty bottles under a nozzle, depositing coin, and pressing a series of buttons. The machine dispenses the requested soda and a bar-coded dietary information sticker, which the customer places on the bottle. The entrepreneur now must determine where to locate the machines by studying the market and then grouping outlets on the basis of his research findings. This is an example of the ____________segmentation approach.

A) A priori

B) De facto

C) Quid pro quo

D) Post hoc

8. What are the two most commonly used approaches for segmenting markets?

A) Benefit segmenting and psychographic segmentation

B) Advertising segmentation and financial segmentation

C) Non profit and profit segmentation

D) Marketing segmentation and geodemographic segmentation

9. A purse manufacturer has segmented its marketing according to how women use their purpose. For instance, some women want large purses so they can carry everything they could possibly need. Other women want small, attractive purses as accessories for their outfits. Some women want purposes with lots of pockets to help in order to be better organize. The purse manufacturer uses___________ segmentation.

A) Benefit

B) Behavior

C) Person/situation

D) Geodemographic

10. Consumers today are time-poor. They’re spending more time in their cars and more time eating fast food while they are driving. To a time-poor consumer, the cup holder is so much more efficient than trying to balance a drink and drive at the same time. Car manufacturers are designing cup holders that use gyroscopes to keep the cup straight and the contents from sloshing out. This type of product development is aimed at market that can be readily defined through __________ segmentation.

A) Demographic

B) Behavior

C) Benefit

D) Person/situation

Chapter 6

1. A product is the sum of the physical, psychological, and _______ satisfaction the buyer derives from purchase, ownership, and consumption

A) Physical

B) Sociological

C) Cognitive

D) Personal

2. The tangible product along with the whole cluster of services that accompany it is called __________________.

A) Extended product

B) Intangible product

C) Generic product

D) Product mix

3. Which of the following managers would most likely have marketing myopia?

A) The refrigerator manufacturer who believed his product stored food in a cool environment

B) The travel agency owner who thought of cruises as vacations from the boring

C) The owner of a tutoring service who believed his company marked self-esteem

D) The landscape company owner who believed his company’s duty was to enhance the beauty of nature

4. Pritchard’s fine rum is the only rum that is actually distilled in the southeastern part of the United States. It sells for about $30 a bottle and views its main competition as Cruzan and Myers, both made in the Caribbean. Pritchard’s fine rum has a more bourbon-like flavor than other brands of rum, which tend to taste more like cognac. In terms of the classification of consumer goods, the distiller of Pritchards’ fine rum would want its rum to be categorized as a(n) _______________.

A) Specialty good

B) Operating supply

C) Shopping good

D) Convenience good

5. _________ refers to what the customer receives in exchange for what the customer gives.

A) Quality

B) Product mix

C) Value

D) Line extension

6. As Alan strolled through the shopping center, he was trying to apply what he had learned in marketing class to what he saw. Which of Alan’s descriptions do you believe to be most accurate?

A) The Tie Shop, which only sells ties, would have a wide product mix

B) ]The Dollar Tree, which sells everything from baby rattles to potting soil to contact lens cleaning solution, would have a narrow product mix and a deep assortment

C) The Christian Superstore, which sells hundreds of self-help books, novels, and music with a religious thee, has a narrow and deep product mix

D) Louie’s Bakery, which sells thirty-six different kinds of muffins, would have a deep product mix

7. General Mills makes four different varieties of Total cereal. They are Total corn flakes. Total raisin bran, and Total brown sugar and oat cereal. With its Total cereal brand, General Mills has used _____________.

A) A line extension

B) A product mix addition

C) A brand extension

D) A franchise extension

8. Arm & Hammer first introduced a line of toothpastes with the Arm & Hammer brand. Its introduction of a mouthwash and a chewing gum also using the Arm & hammer brand name are examples of __________________.

A) A line extension

B) A product mix addition

C) A brand extension

D) A franchise extension

9. Every product from cranberries to grapefruits marketed by Ocean Spray is sold under the Ocean Spray corporate name. Ocean Spray uses ___________.

A) Dual branding

B) Cobranding

C) Family branding

D) Joint branding

10. Procter & Gamble makes Camay soap for those concerned about soft skin and Safeguard soap for those who want deodorant protection. P&G uses a _________ strategy.

A) Multibranding

B) Joint branding

C) Product extension

D) Franchise extension