MKTG 201 All Quizzes (with Answers)

Market segmentation is the process of grouping customers into relatively homogeneous sets or segments such that customers within a segment are similar to one another in: A. Age and psychographics B. Family and cultural situations C. Their frequency of purchase D. The way they respond to the marketing effort directed torward them E. Geographic location correct answers D. The way they respond to the marketing effort directed torward them Landyachtz recently launched a new Slide Glove for longboarders--Ly Leather Slide Gloves. The local market segment consists of a few longboarders in Provo Canyon. Retailers in the Utah market are worried that the segment size is not large enough to make this product profitable. Which characteristic of effective segmentation is lacking? A. Accessible B. Durable C. Measureable D. Substantial E. Unique needs correct answers D. Substantial Product positioning is: A. The place a product occupies in the target customers' minds B. Shelf size and location in major retail chains--grocery and department stores C. Geographic segmentation, often within major metropolitan and suburban areas D. A careful analysis of cross tabulations E. What marketers do to a product correct answers A. The place a product occupies in the target customers' minds Perceptual maps show the judgments customers make regarding the performance of a brand's features and benefits. Gap analysis extends the perceptual maps method by asking customers to make judgments regarding: A. Cultural differences among consumers B. The performance of competitive brands C. Psychological differences among consumers D. The importance of a brand's features and benefits to the buying decision E. The performance of external forces in the environment correct answers D. The importance of a brand's features and benefits to the buying decision Why dosen't "me too" positioning work as a value positioning strategy? A. The positioning approach does not give consumers a reason to change B. Competitors are just too difficult to copy C. Competitors may have lower cost structures D. Imitation is the sincerest form of flattery E. Customers want consistency among competitors correct answers A. The positioning approach does not give consumers a reason to change