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Audi has developed a mid-sized station wagon that has 340 horsepower and is able to go from standing still to sixty miles an hour in 6.5 seconds. The base price of the car is $61,625. The automaker predicts that 80 percent of its buyers will be men with 60 percent of them married. The median age of these men will be 45 with median household incomes of $200,000. Audi should use a __________ strategy to sell its newly developed car. |
| | A) | harvesting |
| | B) | market development |
| | C) | market penetration |
| | D) | market segmentation |
| | E) | needs differentiation |
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| 2.
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A firm selling two or more products with different features to help consumers perceive the product as being different and better than competing products is using: |
| | A) | dual distribution. |
| | B) | market differentiation. |
| | C) | product differentiation. |
| | D) | market penetration. |
| | E) | full coverage marketing. |
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| 3.
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Reebok was the first shoe manufacturer to introduce a soft-leather aerobic dance shoe in many colors. Reebok was implementing a __________ strategy. |
| | A) | repositioning |
| | B) | harvesting |
| | C) | market aggregation |
| | D) | product differentiation |
| | E) | targeted differentiation |
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| 4.
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A market-product grid is a framework to relate: |
| | A) | estimated expenses for products sold to various market segments. |
| | B) | total anticipated revenue for each product to market segments. |
| | C) | total anticipated profit for each product to segments. |
| | D) | the market segments of potential buyers to products offered or potential marketing actions by the firm |
| | E) | the market segments of potential buyers to the relative market share compared to closest competitor. |
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| 5.
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Customix.com allowed customers to visit its website and design a sneaker to their own personal specifications. This website would particularly appeal to people who exercise regularly and are very aware of what shoe styles fit comfortably on their feet. This is an example of: |
| | A) | mass customization |
| | B) | synergy |
| | C) | target marketing |
| | D) | implementation of the 80/20 rule |
| | E) | repositioning |
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| 6.
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AMF wants to build a state-of-the-art bowling alley in Canada. Marketing research shows that Canadians who live in British Columbia, Alberta, Saskatchewan and Manitoba enjoy bowling. Eastern Canadians do not like to bowl. This would be an important __________ segmentation variable for AMF. |
| | A) | lifestyle |
| | B) | geodemographic |
| | C) | geographic |
| | D) | demographic |
| | E) | psychographic |
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| 7.
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Categories that can be used to segment U.S. consumer markets are divided into two general categories. They are: |
| | A) | demand frequency and utilization. |
| | B) | customer lifestyles and benefits sought. |
| | C) | geographic and demographic. |
| | D) | customer characteristics and buying situations. |
| | E) | awareness and intentions. |
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| 8.
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Doris Lewis owns Lewis Edibles, Inc., a company that makes Tongue Tinglin' B.B.Q. Sauce. She wants to target local people who like the special blend of flavors found only in North Carolina mustard-based barbecue sauce. The easiest method for segmenting her market is to use _____ segmentation variables. |
| | A) | age |
| | B) | behavior |
| | C) | socioeconomic |
| | D) | geographic |
| | E) | perceptual |
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| 9.
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Recently, Nike debuted Air Jordan XVII 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 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) | behavior |
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| 10.
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Which of the following are demographic variables in U.S. consumer markets? |
| | A) | gender and race |
| | B) | age and income |
| | C) | age and birth era |
| | D) | household size and marital status |
| | E) | all of the above. |
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| 11.
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The headline of the ad for the Sleep Number bed by Select Comfort read, "5 Reasons Why You'll Sleep Better on a Sleep Number Bed." From this information, you know that Select Comfort uses __________ segmentation. |
| | A) | benefits sought |
| | B) | psychographic |
| | C) | demographic |
| | D) | socioeconomic |
| | E) | behavior |
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| 12.
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Retailers often conduct research to identify areas of a city with residents that fit a similar lifestyle profile. This is an example of __________ segmentation: |
| | A) | psychographic |
| | B) | demographic |
| | C) | socioeconomic |
| | D) | benefits sought |
| | E) | behavior |
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| 13.
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Audi has developed a mid-sized station wagon that has 340 horsepower and is able to go from standing still to sixty miles an hour in 6.5 seconds. The base price of the car is $61,625. The automaker predicts that 80 percent of its buyers will be men with 60 percent of them married. The median age of these men will be 45 with median household incomes of $200,000. What types of segmentation variables is Audi using? |
| | A) | socioeconomic and psychographic |
| | B) | demographic and income |
| | C) | benefits sought and psychographic |
| | D) | psychographic and behavior |
| | E) | demographic and benefits sought |
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| 14.
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The slogan used for all Jergens lotions is "Love Your Body." An ad for Jergens Ultra Healing lotion tells dry-skin sufferers that the lotion, "locks moisture in and throws away the key. " Jergens is using a strategy based on __________ variable. |
| | A) | geographic |
| | B) | socioeconomic |
| | C) | benefits sought |
| | D) | product knowledge |
| | E) | demographic |
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| 15.
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The 80/20 rule is a concept which suggests: |
| | A) | eighty percent of a firm's inventory should be readily available, and twenty percent should be reserved for emergency demand. |
| | B) | eighty percent of a firm's first time users will become brand loyal and twenty percent of the firm's first time users will use the product only once. |
| | C) | eighty percent of a firm's sales are obtained from twenty percent of its customers. |
| | D) | eighty percent of a firm's expenditures are tax deductible and twenty percent are not. |
| | E) | eighty percent of a firm's products will ultimately be sold at the original markup price, and twenty percent will not. |
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| 16.
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Hallmark grouped its scrapbook supplies, photo albums and such into one product group because: |
| | A) | competitors relate to them better for benchmarking purposes. |
| | B) | customers relate to them better since that is how they view their purchase. |
| | C) | it is easier to estimate the industry sales for fewer market-product combinations. |
| | D) | it is more profitable to define product groupings in terms of large market segment because it reduces manufacturing and marketing costs. |
| | E) | its competitors engage in no product groupings. |
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| 17.
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Leeper publishing Company specializes in books on trout fishing in the United States. Next year, it expects to achieve total book sales of $187,000. What is this estimate called? |
| | A) | a marketing objective |
| | B) | a marketing penetration objective |
| | C) | a market share estimate. |
| | D) | a sales forecast |
| | E) | an industry forecast |
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| 18.
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A perceptual map is most like a: |
| | A) | consumer map of likes and dislikes. |
| | B) | database. |
| | C) | pyramid design. |
| | D) | two-dimensional graph. |
| | E) | three-dimensional cube. |
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| 19.
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There are a lot of skateboard manufacturers in 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 $495 skateboard? |
| | A) | parallel market positioning |
| | B) | distinction positioning |
| | C) | repositioning |
| | D) | differentiation positioning |
| | E) | head-to-head positioning |
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| 20.
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__________ involves seeking a less competitive, smaller market niche in which to locate a brand. |
| | A) | Consumer positioning |
| | B) | Head-to-head positioning |
| | C) | Lost-horse positioning |
| | D) | Differentiation positioning |
| | E) | Repositioning |
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