Question 1

When deciding how to promote his new medical oncology center,Dr.Jones decided that he did not need to throw a large grand opening reception.Instead,he promoted the center to the internal medicine doctors in the area,who were the doctors most likely to refer patients to the center.Dr.Jones was engaged in a concentrated targeting strategy.

Accepted Answer

Dr. Jones is focusing his efforts on a specific group of doctors, internal medicine doctors, who are most likely to refer patients to his center. This is an example of concentrated targeting strategy, also known as niche marketing.

Question 2

Perceptual maps include positions of current brands as well as ideal points where a consumer segment would want a product to be.

Accepted Answer

Perceptual maps are used to visualize the position of current brands in a market as well as identify ideal points where a consumer segment would want a product to be.

Question 3

A value proposition compares the price of a product to its benefits.

Accepted Answer

A value proposition explains how a product or service solves/improves problems, delivers specific benefits, and why it's better than the competition, rather than just comparing price to benefits.

Question 4

NASCAR redirected its marketing efforts when a survey indicated that almost 50 percent of its fans were female.This is an example of psychographic segmentation.

Accepted Answer

This is an example of demographic segmentation, which categorizes the market based on observable characteristics such as age, gender, income, etc. Psychographic segmentation involves dividing the market based on lifestyle, values, attitudes, and personality traits.

Question 5

The first step in the STP process is to establish an overall strategy.

Accepted Answer

The first step in the STP (Segmentation, Targeting, and Positioning) process is to establish an overall strategy. This strategy involves defining the company's mission, objectives, and goals, as well as conducting a situational analysis of the market and competitors. Only after the overall strategy is established can a company begin to segment the market, select a target segment, and position its products or services in the minds of consumers.

Question 6

Positioning strategies generally focus either on how the product benefits the consumer or on how it is better than competitors' products.

Accepted Answer

Positioning strategies aim to differentiate a product from its competitors by either highlighting the unique benefits it offers to consumers or emphasizing its superiority over competing products.

Question 7

It would be logical for bathing suit marketers to use geographic segmentation.

Accepted Answer

Geographic segmentation involves dividing a market into different geographical units, such as countries, regions, cities, or neighborhoods. In the case of bathing suits, marketers can target specific geographic areas where people are more likely to need and buy swimsuits, such as coastal regions, resort towns, or areas with hot weather.

Question 8

Segmentation,targeting,and positioning
A) are terms that can be used interchangeably in developing marketing plans.
B) are part of a firm's marketing strategy.
C) should be done simultaneously so synergies can help streamline the effort.
D) are part of the marketing plan but bear little direct relationship to the marketing mix.
E) are optional elements of a marketing plan.

Accepted Answer

Segmentation, targeting, and positioning are crucial components of a firm's marketing strategy. These processes help firms identify and understand their target customers, their needs and preferences, and the most effective ways to communicate and deliver their products or services to those customers. They are not interchangeable terms, are not optional, and are directly related to the development of the marketing mix.

Question 9

The STP process is made up of strategy,targeting,and promotion.

Accepted Answer

The STP process stands for Segmentation, Targeting, and Positioning, not strategy, targeting, and promotion.

Question 10

Automobile manufacturers could build cars specially designed for very tall people (for example,over seven feet),but it is likely that this segment is not substantial.

Accepted Answer

While there may be a small market for cars designed specifically for very tall people, it is unlikely that this segment is large enough for automobile manufacturers to invest significant resources into designing and producing such cars.

Question 11

The Value and Lifestyle Survey (VALS)conducted by Strategic Business Insights (SBI)is a widely used tool for geographic segmentation.

Accepted Answer

The Value and Lifestyle Survey (VALS) is primarily used for psychographic segmentation, focusing on consumers' values, attitudes, and lifestyles, rather than geographic segmentation.

Question 12

When a marketer adjusts the marketing mix to give customers a clear,distinctive understanding of what the product does,the marketer is engaging in psychographic segmentation.

Accepted Answer

Psychographic segmentation refers to dividing customers based on their personality traits, values, attitudes, and interests. Adjusting the marketing mix to provide a clear understanding of the product's benefits or features is an example of positioning strategy, which is a part of market segmentation.

Question 13

Giant Food Stores in suburban Washington,DC,adjusts its ethnic food aisle offerings based on the ethnic groups living near each store.Giant Foods is using geodemographic segmentation.

Accepted Answer

Geodemographic segmentation is a marketing strategy that involves dividing customers based on their geographic location and demographic characteristics. In this case, Giant Food Stores is using this strategy to adjust its offerings in the ethnic food aisle based on the ethnic groups living near each store. Therefore, the answer is A.

Question 14

As it relates to positioning,a self-values map displays the position of products or brands in the consumer's mind.

Accepted Answer

The answer of As it relates to positioning,a self-values map...

Question 15

A complex product that is best described in writing will be difficult to explain to consumers who are unable to read.For this reason,a segment in which many consumers could not read would be considered unattractive because the consumers would not be responsive.

Accepted Answer

The answer of A complex product that is best described...

Question 16

For products like pencils and paper clips,marketers should probably use an undifferentiated targeting strategy.

Accepted Answer

Undifferentiated targeting strategy is appropriate when the product being offered is a commodity and there is no significant differentiation that can be made. Pencils and paper clips are standard products with no significant variation. Therefore, an undifferentiated targeting strategy can be used in this case.

Question 17

Coca-Cola launched Coke Zero to attract new customers in a segment it might not get with Diet Coke.

Accepted Answer

Coca-Cola launched Coke Zero as a no-calorie beverage option aimed at attracting younger men who may not be interested in the taste or branding of Diet Coke.

Question 18

Sally is in the new marketing department of a midsized lawn and garden company.She is working on the first marketing plan the firm has ever used.She has defined the mission and objectives,and she just finished a situation analysis for the firm.The next step is to
A) develop an advertising plan to promote the upcoming sales.
B) find marketing interns or hire new staff to help with implementation.
C) create pro forma financial statements to complete the package.
D) identify and evaluate opportunities by conducting segmentation,targeting,and positioning analysis.
E) use the Internet,catalogs,and vendor information to draw up a list of new products.

Accepted Answer

The next step that Sally should take is to identify and evaluate opportunities by conducting segmentation, targeting, and positioning analysis. This will help her to understand her target market and to position her company's products and services in a way that will appeal to them. Developing an advertising plan, finding marketing interns or new staff, creating pro forma financial statements, and creating a list of new products are all important steps in the marketing process, but they should come after identifying and evaluating opportunities.

Question 19

Maintaining a unique value proposition can be sustained in the long term only in monopoly situations or monopolistic competition situations.

Accepted Answer

The answer of Maintaining a unique value proposition can be...

Question 20

A company that sells only multigrain,low-calorie bread should use an undifferentiated targeting strategy.

Accepted Answer

The company is using a differentiated targeting strategy by focusing on a specific type of bread (multigrain, low-calorie) and not targeting all consumers.

Quiz 9: Segmentation, Targeting, and Positioning