Chapter 3 Focusing Marketing Strategy

Chapter 3 Focusing Marketing Strategy - Chapter 3: Focusing...

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Chapter 3: Focusing Marketing Strategy with Segmentation and Positioning True-false Questions 1. A market is a group of two or more sellers who offer substitute ways of satisfying customer needs. | Ans: False | Easy | LO: 1 | Pg. 60 | Definition | 2. The main difference between a "product-market" and a "generic market" is whether customer needs are similar or different. | Ans: False | Easy | LO: 1 | Pg. 61 | Definition | 3. A "generic market" is a market in which sellers offer substitute products which are so similar that customers see them as "all the same." | Ans: False | Easy | LO: 1 | Pg. 62 | Definition | 4. A firm's "relevant market for finding opportunities" should be bigger than the present product-market but not so large that it couldn't expand and still be an important competitor. | Ans: True | Easy | LO: 1 | Pg. 63 | Definition | 5. The definition of a product-market includes a product type while the definition of a generic market does not include a product type. | Ans: True | Easy | LO: 1 | Pg. 63-64 | Definition | 6. Effective market segmentation is a two-step process that starts with naming broad product- markets and then goes on to segmenting these broad product-markets into more homogeneous submarkets. | Ans: True | Easy | LO: 2 | Pg. 65 | Definition | 7. Using one or two demographic dimensions to describe market segments usually does not provide enough detail for planning a marketing strategy. | Ans: True | Easy | LO: 2 | Pg. 65 | Definition | 8. Market segmentation says that target marketers should develop one good marketing mix aimed at a fairly large market. | Ans: False | Easy | LO: 2 | Pg. 65 | Definition | 9. Marketing-oriented managers see segmenting as a process of aggregating people with similar needs into a group. | Ans: True | Easy | LO: 2 | Pg. 66 | Definition | Chapter 3: Focusing Marketing Strategy 3 - 1
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10. Ideally, segmenters should start with the idea that each person is "one of a kind" and can be described by a special set of dimensions that may be used to aggregate similar customers together. | Ans: True | Easy | LO: 2 | Pg. 66 | Definition | 11. One of the difficult things about segmenting is that not every customer will neatly fit into some market segment. | Ans: True | Easy | LO: 2 | Pg. 66-67 | Definition | 12. A "good" market segment should be composed of people who are as homogeneous as possible with respect to their likely responses to marketing mix variables. | Ans: True | Easy | LO: 2 | Pg. 67 | Definition | 13. "Good" market segments should be homogeneous (similar) within, heterogeneous (different) between, substantial, and operational. | Ans: True | Easy | LO: 2 | Pg. 67 | Definition | 14. "Good" market segments should be heterogeneous within and homogeneous between. | Ans:
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This note was uploaded on 10/17/2011 for the course BUSINESS 023 taught by Professor Hisyam during the Spring '11 term at Universiti Teknologi Malaysia.

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Chapter 3 Focusing Marketing Strategy - Chapter 3: Focusing...

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