Principals of MGMT chapterapter 8 Test Review Flashcards PDF

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Principals of Marketing Chapter 8 Test Review

Principals of Marketing Chapter 8 Test Review Terms in this set (41) Wesley Electronics Inc. is a company that manufactures electronic gadgets. The marketing team of the company spends a great deal of money on advertising in order to create awareness about the company's products among potential customers. It employs various methods of advertising, such as print, broadcast, and online advertising. According to the steps of market segmentation, Wesley Electronics Inc. is most likely: a. selecting a market or product category for study. b. designing and implementing marketing mixes. c. profiling and analyzing market segments. d. selecting segmentation descriptors for a market.

In the context of gender segmentation, which of a the following statements is true? a.Women are increasingly part of all-male markets. b. Women are an inexperienced purchasing group, unlike men. c. Men make 70 to 80 percent of purchases of consumer goods each year. d. Men tend to research investments in-depth more than women do.

Tennot Inc. sells used cars. It focuses solely on c low-income customers who prefer to buy an old car rather than a new one. Therefore, it develops one marketing mix that targets the low-income group. In this scenario, Tennot Inc. most likely uses a(n)_____. a. undifferentiated targeting strategy b. multisegment targeting strategy c. concentrated targeting strategy d. universal targeting strategy

b

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Which of the following statements is true of

Principals of Marketing Chapter 8 Test Review

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a a.They are composed of people or organizations. b.They thrive only on government funds and subsidies. c.They allow consumers to take products for free. d. They influence consumers to buy products they do not need.

____ is a common base of demographic

d

segmentation. a. Product benefit b. Usage rate c. Geography d. Income

The editorial board of Gamers' Page, a magazine

c

that primarily caters to people who are enthusiastic about sports and gaming, targets people who enjoy games. In this scenario, Gamers' Page uses_____. a. gender segmentation b. geographic segmentation c. psychographic segmentation d. family life cycle segmentation

Which of the following statements is true of

d

lifestyle segmentation? a. It divides people into groups based on their traits, attitudes, and habits. b. It divides a market by the amount of product bought or consumed. c. It divides people into market segments according to the benefits they seek from a product. d. It divides people into groups based on socioeconomic characteristics such as income and education.

Mass-marketing efforts will continue to be used

c

by marketers: a. because consumers have more time to make purchase decisions. b. to gather detailed information on customers, which is not possible in direct marketing. c.to remind consumers of a product. d. because they allow marketers to target customers with extremely relevant offerings.

Principals of Marketing Chapter 8 Test Review a. Usage rate of a product b.Geodemographics

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c. Gender Which of the following is a psychographic d. Ethnicitiesvariable? segmentation

b

Volten Inc. is an apparel store. It has separate

d

sections for casual wear, office wear, and party wear. It also has goods of varying prices to suit people of various income levels. In this way, it caters to different sections of the society. Volten Inc. demonstrates positioning by________. a. product class b. application c. competitor d. product user

A concentrated targeting strategy differs from

b

an undifferentiated targeting strategy in that a concentrated targeting s trategy: a. results in cannibalization of products. b. involves the selection of a market niche to target the marketing efforts of a firm. c.views the market as one big market with no individual segments. d. reduces the production and marketing costs of a firm.

Nalpas Inc., an apparel company, manufactures

b

clothes for men, women, and children. It further divides its core customers on the basis of demographic variables such as income, ethnic background, and family life cycle. In this context, these demographic variables are examples of _____. a. positioning bases b. segmentation bases c. product classes d. market positions

Principals of Marketing Chapter 8 Test Review end cars. It launches a new car Gwen 2.0 that becomes highly successful in the market because of its cheap price and excellent specifications. However, this leads to a significant decline in the sales of Sanders Inc.'s other cars. This scenario exemplifies_______. a.segmentation b. differentiation c. cannibalization d. personalization

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Inc. is of a multinational company that InPrisly the context family life cycle segmentation, specializes in manufacturing and selling highmiddle-aged married couples with or without

c a

children: a.are hard to influence with advertising. b. are better off financially than young married couples with or without children. c. buy medical care products that aid health, sleep, and digestion. d. have the highest purchase rate.

Kirksand Airlines is well known for providing

a

excellent customer service to its flyers. The staff members enquire and listen carefully to each flyer's wants and needs. If a flyer has any specific requests, the staff members ensure that they are immediately attended to. In this scenario, Kirksand Airlines has based its customer relationship management on the trend of_____. a.personalization b. mass marketing c. loyalty d. technology

Which of the following statements is true of

a

market segmentation? a. It helps marketers design marketing mixes that match the characteristics of one or more segments. b. It allows marketers to use an undifferentiated targeting strategy. c. It allows marketers to adopt a single marketing mix across all market segments. d. It helps marketers focus on satisfying customer needs rather than meeting the organization's objectives.

Principals of Marketing Chapter 8 Test Review brands, or groups of products in customers' minds. a. Multidimensional scaling b. Product differentiation c. Perceptual mapping d. Product tracing

In the context of customer relationship management (CRM),________offers marketers a more cost-effective way to reach customers and enables businesses to personalize their messages. a.repositioning b. undifferentiated targeting c. cannibalization d. new technology

d

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_____ofis athe means of displaying or graphing, Which ofthe following is true Which following isstatements an advantage of of ain atwo or concentrated more dimensions, targeting the strategy? location of products, multisegment targeting strategy?

b c b

a. It significantly reduces the risk of product cannibalization. b. It provides economies of scale in manufacturing and marketing. c. It does not require firms to tailor marketing mixes to the preferences of market segments. d. It decreases the costs involved in product design, marketing research, and management. Pine Groove, a cosmetics brand that primarily

c

caters to women, wants to reach out to the lesstraditional male market. It conducts research and develops a new product especially for men. In this context, Pine Groove uses_____. a. ethnicity segmentation b. age segmentation c. gender segmentation d. psychographic segmentation

In the context of family life cycle segmentation,

b

which of the following statements is true? a.Young divorced couples without children have the lowest purchase rate. b. Middle-aged married couples with or without children have high average purchase of durables. c.Young married couples with children have high liquid assets. d. Middle-aged divorced couples without dependent children are least satisfied with their financial position.

Principals of Marketing Chapter 8 Test Review

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a. It allows a firm to serve two or more welldefined market segments simultaneously. b. It is often adopted by small firms to compete effectively with much larger firms. c. It follows a mass-market philosophy by viewing the market as one big market without any individual segments. d. It results in cannibalization of products.

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Trower Inc. has launched a new smartphone in

b

two different variants. Both variants of the smartphone have a similar design but have different hardware specifications. The company uses this strategy so that the smartphone can be afforded by most people. In this scenario, Trower Inc. most likely uses_______. a. usage-rate segmentation b. income segmentation c. gender segmentation d. age segmentation Starlight Jewelry sends Lauren a birthday card

a

along with a pendant as a token of appreciation for shopping frequently at its store. The trend portrayed in this customer relationship management technique is________. a.loyalty b. technology c. time savings d. standardization

_____ is market segmentation on the basis of

d

personality, motives, lifestyles, and geodemographics. a. Benefit segmentation b. Family life cycle segmentation c. Usage-rate segmentation d. Psychographic segmentation

A firm using a(n)______essentially adopts a mass-

a

market philosophy, viewing the market as one big market with no individual segments. a. undifferentiated targeting strategy b. niche targeting strategy c. individual targeting strategy d. concentrated targeting strategy

Principals of Marketing Chapter 8 Test Review a.a market is composed of narrowly defined market segments. b. small firms can compete effectively with large firms. c. concentrating all resources on understanding the needs of a single market results in cannibalization. d. individual customers have similar needs that can be met with a common marketing mix.

_____ refers to segmenting markets by region of a a country or the world, market size, market density, or climate. a.Geographic segmentation b. Benefit segmentation

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c.firm Demographic segmentation Terra A Corp. that adopts produces an undifferentiated a wide range oftargeting furniture, d. Usage-rate segmentation strategy such as cabinets, assumes that: book cases, and wardrobes. It _____ helps marketers develop marketing

d b

d

programs tailored to prospective buyers who live in small regions or who have very specific lifestyle. a. Benefit segmentation b. Family life cycle segmentation c. Ethnic segmentation d. Geodemographic segmentation

_____ is a positioning base that focuses on a

c

personality or type of consumer. a. Product class b.Attribute c. Product user d. Emotion

To be useful, a segmentation scheme must

c

produce segments that: a.are composed of people with different product needs. b. are composed of people with different characteristics. c. are large enough to warrant developing and maintaining a special marketing mix. d. are divided according to the North American Industry Classification System.

Principals of Marketing Chapter 8 Test Review

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divides its consumer market into several groups of people who have similar interests in wooden furniture. In this context, dividing its consumer market most likely: a. allows Terra Corp. to meet the markets' needs with a single marketing mix. b. enables Terra Corp. to define customer needs and wants precisely. c. eliminates the need for defining marketing objectives. d. allows Terra Corp. to use an undifferentiated targeting strategy.

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The purpose of market segmentation is to:

d

a. change consumer attitudes and beliefs toward a product. b. divide a market into submarkets of equal size and equal number of customers. c. eliminate the need for defining marketing objectives. d. enable a marketer to tailor marketing mixes to meet the needs of one or more specific segments. Which of the following occurs when sales of a

a

new product cut into sales of a firm's existing products? a.Cannibalization b. Product churning c. Backward invention d. Commodification

In the context of age segmentation, the tween

c

and teenage cohort following the Millennials is sometimes called________. a.Generation X b. the baby boomer generation c.Generation Z d. the Silent Generation

Companies that successfully implement customer

b

relationship management (CRM) tend to: a. use an undifferentiated targeting strategy. b. customize the goods and services offered to their customers. c. assume that customers have similar needs that can be met with a common marketing mix. d. minimize the use of database technology.

Principals of Marketing Chapter 8 Test Review Millennials, Generation X, baby boomers, and seniors. a. Ethnic segmentation b. Family life cycle segmentation c.Age segmentation d. Psychographic segmentation

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_____ involves is a confectionery a market company that groups such InLaelle the context ofdividing the strategies forinto selecting as manufactures newborns, infants, candies. young It does children, not use target markets, which of the following istweens, aspecific

c b

disadvantage of an undifferentiated targeting strategy? a. It results in market segments that are either too small or that shrink because of environmental changes. b. It often results in sterile, unimaginative product offerings that have little appeal to anyone. c. It results in cannibalization of products. d. It increases the production and marketing costs of a firm.

Which of the following statements is true of

d

product positioning? a. It assumes that consumers compare products solely on the basis of price. b. There are two positioning bases, application and price. c.The quality of competing products does not influence product positioning. d. Consumer goods marketers are particularly concerned with positioning.

Which of the following is a similarity between a

c

stock market and a labor market? a. Both use a barter system to facilitate the exchange of products. b. Both are composed of people who are unwilling to spend large sums of money for products or services. c. Both are composed of people with specific wants that can be satisfied by particular product categories. d. Both deal in selling high-end, consumer durable products.

Principals of Marketing Chapter 8 Test Review strategies to target children while marketing its products. Instead, it uses the same strategies to promote its candies among all consumers in the market. In this scenario, Laelle uses a(n) _. a. multisegment targeting strategy b. individual targeting strategy c. undifferentiated targeting strategy d. concentrated targeting strategy

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