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Chapter Quiz
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1
Which of the following is the BEST example of a "generic market?"
A)The senior citizen recreation market
B)The designer shoes market
C)The frozen yogurt market
D)The transportation market
E)The Hispanic-American market
2
A basic difference between a "generic market" and a "product-market" is:
A)whether or not sellers in the market rely on e-commerce.
B)how similar the competing sellers' products are.
C)whether customer needs are similar or different.
D)whether the market includes only buyers--or both buyers and sellers.
E)There is NO DIFFERENCE--the terms mean the same thing.
3
Which of the following is NOT part of a product-market definition?
A)information about consumer needs
B)information about the final customer (or user) of the product
C)information about which specific retailers will sell the product
D)a description of the type of product
E)All of these should be included.
4
The first step in market segmentation should be:
A)deciding what new product you could develop.
B)evaluating what segment(s) you currently serve.
C)finding a demographic group likely to use your products.
D)listing features of your current products.
E)defining some broad product-markets where you may be able to operate profitably.
5
Saying that a "good" product-market segment should be substantial means:
A)that the company does not have to worry about substantial competition for a long time.
B)that people should have substantially different reactions to marketing mix variables.
C)it should be large enough to be profitable.
D)that people in different market segments should be as different as possible.
E)None of the above is true.
6
Electro Technologies, Inc. (ETI) has limited capital and wants to reduce the risk of competitors taking customers if it invests in a new product-market. Its broad product-market consists of three reasonably distinct submarkets. To identify a target market, ETI should probably focus on using the __________ approach.
A)combined target market
B)mass marketing
C)multiple target market
D)single target market
E)All of the above
7
Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product-market. To obtain some economies of scale, QCI decided NOT to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the:
A)combined target market approach.
B)single target market approach.
C)multiple target market approach.
D)mass marketing approach.
E)All of the above.
8
When segmenting broad product-markets, cost considerations tend:
A)to encourage managers to disregard the criterion that a product-market segment should be substantial.
B)to lead to more aggregating.
C)to be unimportant as long as the segmenting dimensions are operational.
D)to lead to a large number of small, but very homogeneous, product-market segments.
E)All of the above are true.
9
When major airlines target business travelers because they travel often and typically pay at least three times the price for a ticket as leisure travelers, these airlines are segmenting the market primarily on:
A)income.
B)education.
C)rate of use.
D)ethnicity.
E)age.
10
Which of the following statements about positioning is NOT true? Positioning techniques:
A)position products on a graph based on price level and quantity demanded.
B)require a firm to collect data about consumer perceptions of products.
C)are sometimes called "perceptual mapping" techniques.
D)typically rely on a "product space" diagram to show the relationship among various products.
E)may use information about consumers' "ideal" products, so that the preferences of different segments of consumers can be considered.







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