MarketingCh3Answers

MarketingCh3Answers - Chapter 8: Identifying Market...

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Chapter 8: Identifying Market Segments and Targets GENERAL CONCEPT QUESTIONS Multiple Choice 1. In ________ marketing, the seller engages in the mass production, mass distribution, and mass promotion of one product for all buyers. a. group b. mass c. general d. segmented e. differentiated Answer: b Page: 226 Difficulty: Medium AACSB: Analytic Skills 2. The argument for ________ marketing is that it creates the largest potential market, which leads to the lowest costs, which in turn can lead to lower prices or higher margins. a. niche b. micro c. macro d. differentiated e. mass Answer: e Page: 226 Difficulty: Medium AACSB: Reflective Thinking 3. A ________ consists of a group of customers who share a similar set of needs and wants. a. market target b. market group c. market slice d. market segment e. market level Answer: d Page: 226 Difficulty: Medium AACSB: Analytic Skills 4. A ________ consists of two parts: a naked solution and discretionary options . a. differentiated market offering b. flexible market offering c. rigid market offering d. vertical market offering e. horizontal market offering Answer: b Pages: 228 Difficulty: Hard AACSB: Analytic Skills
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Part 3: Connecting with Customers 5. If a marketing manager observes that his or her market shows no natural segments and consumers seem to have roughly the same preferences, the marketing manager will most likely be faced with a ________ preferences pattern. a. homogeneous b. heterogeneous c. diffused d. clustered e. scattered Answer: a Page: 228 Difficulty: Medium AACSB: Analytic Skills 6. Procter & Gamble has many soap brands. One reason for this is that soap users tend to group together in terms of preferences such as bleaching action, softness, stain removal, et cetera. Which of the following preferences pattern would most likely apply to P&G’s method of response to market needs? a. Homogeneous preferences b. Diffused preferences c. Clustered preferences d. Psychological preferences e. Cultural preferences Answer: c Page: 228 Difficulty: Medium AACSB: Analytic Skills 7. Marketers usually identify niches by ________. a. dividing a segment into subsegments b. conducting VALS tests c. allowing consumers to gravitate toward product brands d. examining the demographics section of The Handbook of Marketing e. producing products that can be used in a variety of ways Answer: a Page: 228 Difficulty: Medium 8. A niche is characterized as being all of the following EXCEPT that ________. a. the customers in the niche have a distinct set of needs b. the customers will pay a premium to the firm that satisfies their needs c. the niche is not likely to attract other competitors d. the customers generally have smaller amounts of income e. the nicher gains certain economies through specialization Answer: d Page: 229 Difficulty: Medium AACSB: Reflective Thinking 9. Those who favor localized marketing see national advertising as wasteful because ________. a.
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MarketingCh3Answers - Chapter 8: Identifying Market...

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