Question 1

The ultimate criterion for an organization's marketing success is that __________ as a result of increased synergies.
A)costs decrease
B)market share increases
C)product deficiencies decrease
D)customers should be better off
E)new products flourish

Accepted Answer

The ultimate criterion for an organization's marketing success is that customers should be better off as a result of increased synergies. This means that the organization must aim to provide value to its customers through its marketing efforts, and as a result, customers should be more satisfied with the organization's products or services. While cost reduction, market share increase, product improvement, and new product development are also important aspects of marketing success, the ultimate goal is to benefit the customer.

Question 2

Which of the following is an example of a multiple products and multiple market segments strategy?
A)College Football magazine selects different covers for essentially the same written content in order to appeal to different geographic markets in the U.S.
B)A new movie used several different movie trailers.One set of previews showed the action scenes in order to attract one audience and the other set showed romantic scenes to attract another audience.
C)Ford manufactures SUVs for those who wish to carry lots of people and pickup trucks for those who wish to carry lots of cargo.
D)Arm and Hammer Baking Soda can be used for baking and to remove odors from refrigerators and cat litter boxes.
E)Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.

Accepted Answer

Ford manufactures multiple products (SUVs and pickup trucks) to serve multiple market segments (those who wish to carry people and those who wish to carry cargo). The other options either focus on multiple products for one market segment (A, D, E) or multiple marketing approaches for one product (B).

Question 3

Organizational synergy is the increased customer value achieved through
A)performing organizational functions more efficiently.
B)more discounts or larger rebates at the point of sale.
C)involvement of the ultimate consumer in product design.
D)an increase in the knowledge of competitors.
E)shared ownership of the organization through publicly traded stock.

Accepted Answer

Organizational synergy refers to the increased customer value achieved by improving the performance of organizational functions. This can be achieved through better coordination and communication among different departments, streamlining processes, and eliminating redundancies. It results in improved efficiency and effectiveness, which leads to better customer satisfaction and loyalty. The other options are unrelated to organizational synergy or customer value.

Question 4

Lands' End will custom fit a Marinac jacket and make it with additional features such as thumb loops,underarm ventilation slits,and a key clip when you order from LandsEnd.com.This is an example of
A)family branding.
B)mass customization.
C)"Tiffany/Walmart" marketing.
D)market melding.
E)specialty customization.

Accepted Answer

This is an example of mass customization, where Lands' End is customizing the jacket to the individual's preferences and needs without increasing the cost or time associated with producing the jacket.

Question 5

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as
A)family branding.
B)mass customization.
C)"Tiffany/Walmart" marketing.
D)economies of scale marketing.
E)build-to-order.

Accepted Answer

Mass customization refers to the ability to tailor products or services to the individual preferences of customers on a large scale, often through technology and innovation. This allows companies to still achieve economies of scale while offering personalized experiences to customers.

Question 6

Manufacturing a product only when there is an order from a customer is referred to as
A)order customization.
B)a one product one market segment strategy.
C)synergistic marketing.
D)build-to-order.
E)specialty customization.

Accepted Answer

Build-to-order refers to the manufacturing of a product only when there is an order from a customer. This strategy helps reduce inventory costs and ensures that the product is customized to the customer's needs. The other choices, order customization and specialty customization, refer to similar concepts but are not as specific to the manufacturing process. The one product one market segment strategy and synergistic marketing are not related to this concept.

Question 7

ChoiceShirts is an online company that makes made-to-order T-shirts.Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch.This is an example of
A)family branding.
B)mass customization.
C)multiple products and multiple market segments.
D)one product and multiple market segments.
E)specialty customization.

Accepted Answer

Mass customization refers to the ability to create a unique product for each individual customer, while still maintaining low production costs. ChoiceShirts' made-to-order T-shirts, which allow customers to use any photo or design they want, are an example of mass customization.

Question 8

Name Maker is an online company that sells high-end gift wrapping that can have custom slogans or names printed on it,such as the name of a person celebrating a birthday or a couple who is getting married.This made-to-order gift-wrapping is priced from $24.95 to $32.95 per 12-foot roll.This is an example of
A)family branding.
B)mass customization.
C)synergistic marketing.
D)"Tiffany/Walmart" marketing.
E)specialty customization.

Accepted Answer

This is an example of mass customization, as the company is offering personalized gift-wrapping options for customers.

Question 9

When a new product or a new retail chain steals customers and sales from older existing ones of an organization,this is referred to as
A)cannibalization.
B)amortization.
C)product appropriation.
D)product pilfering.
E)marketing Darwinism.

Accepted Answer

The term cannibalization is commonly used in a business context when a new product or service begins to take away customers or sales from an existing product or service within the same company. This is often seen as a negative effect on the business as it can lead to a decrease in profits for the older product or service.

Question 10

Custom Foot operates six retail locations.At first glance,none looks any different from your basic old-fashioned shoe store,but the only boots on hand are display models.There's no inventory for sale and customers go home empty-handed-at least initially.Customers browse the store,mixing and matching design components such as style,color,and leather type.About 100 display boots provide style guidelines.Once you choose a boot style,you select materials,colors,and textures.Custom Foot guarantees your boots will be ready within three weeks.This is an example of
A)mass customization.
B)specialty customization.
C)virtual merchandising.
D)one product and multiple market segments.
E)multiple products and multiple market segments.

Accepted Answer

This scenario describes mass customization, which is the ability to produce a high volume of unique products that meet individual customer specifications. The options for customization are pre-determined by the company, but the customer has a wide range of choices within those options.

Question 11

Kellogg's has several cereals targeted at different types of users.This is an example of multiple products aimed at multiple markets.Manufacturing these different cereals is clearly more expensive than producing only one but seems worthwhile if it adds to the manufacturer's sales revenues and profits,doesn't reduce quality or increase price,and
A)conforms to all FDA guidelines.
B)uses the same promotion and packaging for all segments.
C)decreases the cost of the physical plant.
D)stabilizes competition.
E)better serves customers' needs.

Accepted Answer

Producing multiple cereals that target different markets allows Kellogg's to better serve the needs of different customers. This can lead to increased sales and profits as customers are more likely to purchase products that are specifically tailored to their preferences. The other options (A, B, C, and D) do not directly address the importance of targeting different markets with multiple products.

Question 12

The increased customer value achieved through performing organizational functions like marketing or manufacturing more efficiently is referred to as __________.
A)aggregation
B)organizational synergy
C)segmentation
D)amalgamation
E)valuation

Accepted Answer

The increased customer value achieved through performing organizational functions more efficiently is referred to as "organizational synergy." This means that by improving the way different parts of an organization work together, the overall value delivered to customers can be increased. Option A, aggregation, refers to the process of combining several smaller entities into a single entity. Option C, segmentation, involves dividing a market into smaller groups with similar needs or characteristics. Option D, amalgamation, refers to the process of merging two or more organizations into a single entity. Option E, evaluation, involves assessing the value or worth of something.

Question 13

Chip-N-Dough Cookie Company will let you select cookies and put a photo of yourself on the tin.This is an example of
A)mass customization.
B)multiple marketing.
C)target marketing.
D)product clustering.
E)repositioning.

Accepted Answer

Mass customization refers to providing customized products or services to individual customers on a mass scale. The ability to select cookies and put a photo on the tin indicates that Chip-N-Dough Cookie Company is providing a customized product to individual customers, which falls under the category of mass customization.

Question 14

Model E is a new type of car manufacturer that relies on the Internet to build new car designs from prototypes to marketable vehicles much faster than ever before."Think of Model E as the Dell of the auto industry.We design just a few products that consumers truly want,leveraging best-in-class components and micro-factory approaches for rapid design,launch,and direct delivery," said William Santana Li,president and CEO of Model E.Model E manufactures each car when a customer chooses from a limited number of options and orders.Model E relies on
A)order customization.
B)a one product one market segment strategy.
C)build-to-order.
D)specialty customization.
E)mass customization.

Accepted Answer

Model E relies on build-to-order, where each car is manufactured after a customer chooses from a limited number of options and orders. This is different from mass customization (Option E), where a large number of customized products are produced in advance without a specific order. Option A (order customization) and Option D (specialty customization) are not specific enough to describe Model E's approach, and Option B (one product one market segment strategy) is not accurate because Model E offers a limited number of options for customization.

Question 15

Which of the following is an example of a multiple products and multiple market segments strategy?
A)College Football magazine selects different covers for essentially the same magazine in order to appeal to different geographic markets in the U.S.
B)A new movie used several different movie trailers.One set of previews showed the action scenes in order to attract one audience and the other set showed romantic scenes to attract another audience.
C)Arm and Hammer Baking Soda can be used for baking and to remove odors from refrigerators and litter boxes.
D)Betty Crocker carries one line of cake mixes for people with conventional ovens and another line of cake mixes for people with microwave ovens.
E)Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.

Accepted Answer

Betty Crocker offering different lines of cake mixes for conventional and microwave ovens is an example of a multiple products and multiple market segments strategy, as it targets different market segments with distinct product variations.

Question 16

All of the following are examples of increased customer value from organizational synergy EXCEPT:
A)lower prices
B)increased market share
C)more products
D)improved distribution
E)improved quality of existing products

Accepted Answer

Increased market share is not necessarily a direct result of organizational synergy. It may be achieved through other means such as aggressive marketing, strategic partnerships, or mergers and acquisitions. The other options (lower prices, more products, improved distribution, and improved quality) are all examples of increased customer value that can be achieved through organizational synergy.

Question 17

Kellogg's has several cereals targeted at different types of users.This is an example of multiple products aimed at multiple markets.Manufacturing these different cereals is clearly more expensive than producing one,but seems worthwhile if it adds to the manufacturer's sales revenues and profits,serves customers' needs better,and
A)conforms to all FDA guidelines.
B)creates economy of scale.
C)doesn't reduce quality or increase price.
D)decreases the cost of the physical plant.
E)stabilizes the sales revenues and profits.

Accepted Answer

The answer of Kellogg's has several cereals targeted at different...

Question 18

Kellogg's has several cereals targeted at different types of users.This is an example of multiple products aimed at multiple markets.Manufacturing these different cereals is clearly more expensive than producing one,but seems worthwhile if it serves customers' needs better,doesn't reduce quality or increase price,and
A)conforms to all FDA guidelines.
B)adds to the manufacturer's sales revenues and profits.
C)creates economy of scale.
D)decreases the cost of the physical plant.
E)stabilizes the sales revenues and profits.

Accepted Answer

Manufacturing multiple products targeted at different markets allows Kellogg's to increase their sales revenues and profits by serving a wider range of customers. As long as the quality is not sacrificed and the price is not increased, the additional costs of producing multiple products are likely offset by the increase in sales.

Question 19

MyTwinn makes dolls that look like young girls.For $119,the firm will make a doll that looks just like a photograph.So,if you send in the money and a photo of your young niece,she could have a doll that is her twin! This is an example of
A)family branding.
B)"Tiffany" marketing.
C)multiple products and multiple market segments.
D)mass customization.
E)specialty customization.

Accepted Answer

This is an example of mass customization, as the doll is made to look like a specific individual based on a photo.

Question 20

Nike employs a __________ strategy at its website,nikeid.com,which allows customers design a sneaker to their own personal specifications.
A)product sampling
B)product clustering
C)mass customization
D)usage segmentation
E)psychographic segmentation

Accepted Answer

The strategy of allowing customers to design a sneaker to their own personal specifications is an example of mass customization, which involves tailoring products or services to meet the individual needs of customers.

Quiz 9: Market Segmentation, Targeting, and Positioning

The ultimate criterion for an organization's marketing success is that __________ as a result of increased synergies.

Which of the following is an example of a multiple products and multiple market segments strategy?

Organizational synergy is the increased customer value achieved through

Lands' End will custom fit a Marinac jacket and make it with additional features such as thumb loops,underarm ventilation slits,and a key clip when you order from LandsEnd.com.This is an example of

Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as

Manufacturing a product only when there is an order from a customer is referred to as

ChoiceShirts is an online company that makes made-to-order T-shirts.Its online customers can order their shirts using any downloaded photo inserted into 600 templates or even design a shirt from scratch.This is an example of

When a new product or a new retail chain steals customers and sales from older existing ones of an organization,this is referred to as

The increased customer value achieved through performing organizational functions like marketing or manufacturing more efficiently is referred to as __________.

Chip-N-Dough Cookie Company will let you select cookies and put a photo of yourself on the tin.This is an example of

Which of the following is an example of a multiple products and multiple market segments strategy?

All of the following are examples of increased customer value from organizational synergy EXCEPT:

MyTwinn makes dolls that look like young girls.For $119,the firm will make a doll that looks just like a photograph.So,if you send in the money and a photo of your young niece,she could have a doll that is her twin! This is an example of

Nike employs a __________ strategy at its website,nikeid.com,which allows customers design a sneaker to their own personal specifications.