Chapter 04 Quiz - Focusing Marketing Strategy
with Segmentation and Positioning
•
1.
A market consists of:
1.
a group of potential customers with similar needs who are willing to exchange something of
value.
2.
various kinds of products with similar characteristics.
3.
sellers offering substitute ways of satisfying needs.
4.
all the firms within a particular industry.
5.
both A and C.
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Page: 90
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2.
A generic market
1.
competitor might have only a tiny market share in the generic market but a large share in its
product-market.
2.
often includes consumers who will satisfy the same need in quite different ways.
3.
often involves sellers who compete in different product-markets.
4.
All of the above are true.
5.
None of the above is true.
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Pages: 91-92
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3.
Which of the following is the BEST example of a "generic market?"
1.
The senior citizen recreation market
2.
The designer shoes market
3.
The frozen yogurt market
4.
The transportation market
5.
The Hispanic-American market
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Pages: 91-92
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4.
Which of the following is LEAST likely to compete in the same generic market with the others?
1.
pop corn.
2.
soft drink.
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3.
napkin.
4.
cookie.
5.
ice cream.
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Pages: 91-92
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5.
A basic difference between a "generic market" and a "product-market" is:
1.
whether or not sellers in the market rely on e-commerce.
2.
how similar the competing sellers' products are.
3.
whether customer needs are similar or different.
4.
whether the market includes only buyers--or both buyers and sellers.
5.
There is NO DIFFERENCE--the terms mean the same thing.
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6.
A firm's "relevant market for finding opportunities":
1.
should be as large as possible.
2.
should have no geographic limits.
3.
should be no larger than its present product-market.
4.
should always be named in product-related terms.
5.
None of the above is a true statement.
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Page: 92
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7.
Which of the following is NOT part of a product-market definition?
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- Spring '11
- WilliamPerreault
- Marketing
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