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Exam 9: Market Segmentation, Targeting, and Positioning

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Question 41

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What are the steps needed to segment and target a market?

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Question 42

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Nike recently debuted King James XVII shoes (Lebron James) with a price tag of $200.The shoes arrived at shoe stores in a metallic silver briefcase instead of a shoebox.Nike is targeting a market it identifies as "keepers," people who buy the shoes,keep them under their bed,and when friends come over,show them the shoes.Selling to the market segment called "keepers" probably means that Nike is using which of the following types of customer characteristic variables to segment this market?

A) demographics
B) psychographics
C) usage
D) benefits sought

E) B) and C)
F) A) and B)

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Question 43

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Understanding customer needs is the ____ step in market segmentation.

Why would an organization produce multiple products or services and then attempt to sell them to two or more market segments?

There are a lot of skateboard manufacturers on the market,but the BMW Streetcarver is the only one with stabilizers and wheel design based on BMW's automobile.This technology gives the BMW Streetcarver better control at high speeds and around sharp turns than any other brand.What type of positioning is BMW using with its skateboard priced at $495?

A different market segment usually requires a different marketing action that in turn means greater costs.If increased revenues do not offset extra costs,a marketer should _____ to reduce the number of marketing actions.

One of the key differentiators that separates Zappos.com from other online shoe retailers is their focus on ______.

Market segmentation is only a means to an end.In economist's terms,market segmentation relates supply (the organization's actions) to demand (_____) .

At a board meeting,the Chief Marketing Officer for Procter & Gamble provides a graphical figure that relates market segments to products offered.This graphical figure is likely a(n) :

Pepperidge Farm has developed new thick-sliced French Toast Swirl bread.The company realizes most people who eat toast for breakfast,see it as a side dish.Pepperidge Farm's ads advise consumers of this bread that this new product "doesn't go with breakfast.It is breakfast." Which segmentation variable is being used in this example?

The most commonly used forecasting technique is the:

Paris Miki enables customers to help design their own eyeglasses,using a system that eliminates the need to try on countless pairs of eyeglasses to find the right one.This is an example of:

Which of the following statements demonstrates the formation of a segment based on family size?

At a Hallmark store you can find several different product lines of greeting cards,including Fresh Ink,Nature's Sketchbook,Shoebox,Maxine,Mahogany,and Tree of Life cards - all cards made by Hallmark for sale in its stores and intended to appeal to different target markets.The Shoebox line sells for $0.99,which is a significantly lower price than some of the other Hallmark brands.The Shoebox line is designed to appeal to people on limited budgets.This is an example of _____ segmentation.

Suppose you were a sales forecaster for 3M Company,and had actual sales revenue figures on adhesives for the past ten years.What statistical method of forecasting might you use?

TB Figure: 1 -Cell "B" in TB Figure 1 represents which stage of the market segmentation process?

Yahoo's shopping portal recently began to offer people who visited the site the ability to buy songs from Imix's collection of more than 200,000 tracks from record labels that include BMG and Sony Music Group.Customers can choose up to 70 minutes of music for around $1 per song.Then they can choose an art design and a title for each CD and have a disc shipped for $2.50.This is an example of:

Pristine Carpet Cleaning was trying to forecast sales for the next year.The marketing manager sent out a survey to 1000 prospective customers,asking them if they were planning to clean their carpet in the next 12 months.This is an example of a:

PepsiCo is assessing whether to launch a brand new type of antioxidant water product.The marketing department has described a selection of the population as: "relatively homogeneous collections of prospective buyers." The marketing department is describing what?

According to the text,which of the following is a criterion for selecting a target market?