Question 1

Which of the following segmentation methods is being used when M&M's offers special wedding-themed packaging for customized M&M's (imprinted with the names of the bride and groom)?
A) occasion segmentation
B) geographic segmentation
C) lifestyle segmentation
D) benefit segmentation
E) loyalty segmentation

Accepted Answer

M&M's is using occasion segmentation by targeting customers who are planning their weddings and offering a customized product for that specific occasion.

Question 2

When Victoria's Secret offers different product lines,such as its Pink line,it is trying to capture the market by
A) using segmentation,targeting,and positioning.
B) offering everything to everyone.
C) trying lots of options to find out which one works.
D) doing continual test marketing.
E) focusing exclusively on its Pink brand.

Accepted Answer

By offering different product lines, such as the Pink line, Victoria's Secret is practicing segmentation, targeting, and positioning. They are attempting to appeal to different segments of the market by offering specific products and messaging that will appeal to those target markets. This is a common strategy used in marketing to effectively reach different types of consumers with different needs and preferences.

Question 3

The perceptions of __________ are being measured in a perceptual map.
A) competitors
B) strategic planners
C) the company's executive team
D) the current R&D team
E) consumers

Accepted Answer

Perceptual maps are commonly used in marketing research to visually represent consumer perceptions of various brands or products in relation to one another. Therefore, it is most likely that the perceptions being measured in a perceptual map are those of consumers.

Question 4

Godiva Chocolates produces specially decorated boxes of candies for Valentine's Day,Easter,and Christmas.This is an example of ________ segmentation.
A) occasion
B) loyalty
C) geographic
D) psychographic
E) demographic

Accepted Answer

Occasion segmentation involves targeting consumers based on specific events or occasions, such as holidays or celebrations. In this example, Godiva Chocolates is using occasion segmentation by creating specially decorated boxes of candy for Valentine's Day, Easter, and Christmas.

Question 5

Why must a firm's STP strategy be consistent with and derived from the firm's mission and objectives?

Accepted Answer

The answer of Why must a firm's STP strategy be...

Question 6

In theory,why is micromarketing the ultimate in STP strategy? What is the weakness associated with micromarketing?

Accepted Answer

The answer of In theory,why is micromarketing the ultimate in...

Question 7

Develop a lifestyle segmentation scheme for students at your university,and label and describe three segments.You can think of this as developing your own version of the VALS tool,but specifically for college students.

Accepted Answer

The answer of Develop a lifestyle segmentation scheme for students...

Question 8

Which of these is not one of the main components of a value proposition?
A) the target market
B) the name of the product or brand being offered
C) the product / service category or concept being offered
D) the price of the product or service being offered
E) the unique point of difference or benefits offered

Accepted Answer

While price may be an important element of a value proposition, it is not considered one of the main components. The main components are the target market, the product/service category or concept, and the unique point of difference or benefits offered. The name of the product or brand may also be important but is not always necessary for a strong value proposition.

Question 9

In the Circles for a Successful Value Proposition framework,the value proposition is represented by
A) the intersection between customer needs / wants and competitors' benefits.
B) the intersection between the firm's benefits and competitors' benefits.
C) the intersection between customer needs / wants and the firm's product's benefits.
D) the intersection between all three of the circles.
E) the part of the firm's benefits that doesn't overlap with anything.

Accepted Answer

The value proposition is represented by the intersection between customer needs/wants and the firm's product's benefits. This is because the value proposition is the unique value a firm provides to its customers through its products or services that satisfies their needs and wants. It is not solely based on the competition or the benefits of the firm alone, but rather the customer's perspective in relation to the firm's offering.

Question 10

Overriding desires that drive how we live our lives are called
A) self-values.
B) self-concept.
C) self-esteem.
D) self-confidence.
E) self-control.

Accepted Answer

Self-values are the overriding desires that drive how we live our lives. Self-concept, self-esteem, self-confidence, and self-control all contribute to how we view ourselves and interact with others, but they do not necessarily dictate our overarching goals and aspirations.

Question 11

Micromarketing is also referred to as
A) loyalty marketing.
B) one-to-one marketing.
C) undifferentiated marketing.
D) concentrated marketing.
E) differentiated marketing.

Accepted Answer

Micromarketing is often referred to as one-to-one marketing as it focuses on targeting individual customers with customized products and services based on their specific needs and preferences. Loyalty marketing, undifferentiated marketing, concentrated marketing, and differentiated marketing are all different types of marketing strategies that may or may not incorporate elements of micromarketing.

Question 12

In the Circles for a Successful Value Proposition framework,the portion of the customer needs / wants circle that doesn't overlap with anything else represents
A) the firm's value proposition.
B) competitors' value propositions.
C) low-priority needs and wants that customers are willing to give up.
D) unmet customer needs / wants.
E) unknown customer needs / wants that the firm does not understand.

Accepted Answer

The portion of the customer needs/wants circle that doesn't overlap with anything else represents unmet customer needs/wants. These are areas where there is an opportunity for the firm to create a unique value proposition to differentiate itself from competitors and meet the needs of customers that are not currently being addressed.

Question 13

Let's Dish is a meal-preparation service operating in three states.Customers visit a Let's Dish store to select and partially prepare their meals,which are then packaged for the freezer.At home,the customer can pull a meal out of the freezer and warm it in the oven or microwave.If Let's Dish wanted to expand into new areas of the United States,what segmentation method would probably be most useful in choosing new locations?
A) loyalty segmentation
B) benefit segmentation
C) psychographic segmentation
D) geodemographic segmentation
E) demographic segmentation

Accepted Answer

Geodemographic segmentation would be the most useful method for Let's Dish to choose new locations. This method combines demographic, lifestyle, and geographic factors to identify areas with similar characteristics and preferences, which would be relevant for a business that operates physical stores. By using geodemographic segmentation, Let's Dish can identify areas where potential customers have similar lifestyles and preferences, which could increase the likelihood of success for a new store in that location.

Question 14

Assume you are the marketing consultant for your university,which wants to focus its marketing efforts on recruiting new students.You have a choice of segmenting the undergraduate student market on either a demographic or benefit basis.What is the difference between the two? Which would you recommend,and why?

Accepted Answer

The answer of Assume you are the marketing consultant for...

Question 15

What is the best situation in the Circles for a Successful Value Proposition framework?
A) The firm's benefits overlap with both customer needs / wants and competitors' benefits.
B) The firm's offering overlaps with customer needs / wants but not with competitors' offerings.
C) The firm's offering overlaps with competitors' benefits but not with customer needs / wants.
D) Customer needs / wants overlap with both the firm's benefits and competitors' benefits.
E) None of the three circles overlaps.

Accepted Answer

The best situation in the Circles for a Successful Value Proposition framework is when the firm's offering overlaps with customer needs/wants but not with competitors' offerings. This indicates that the firm is providing a unique value that meets customer needs, differentiating itself from the competition.

Question 16

Assume you are the marketing consultant for your university,which wants to focus its marketing efforts on retention of current students.You have a choice of segmenting the undergraduate student market on either a geographic or psychographic basis.What is the difference between the two? Which would you recommend,and why?

Accepted Answer

The answer of Assume you are the marketing consultant for...

Question 17

Social networking sites that compete directly with Facebook have a difficult time surviving; however,LinkedIn has survived by focusing on the needs of business professionals,who seek to network with colleagues,share their expertise,post online résumés,and look for new jobs.Which segmentation method is LinkedIn using?
A) loyalty segmentation
B) benefit segmentation
C) psychographic segmentation
D) geodemographic segmentation
E) demographic segmentation

Accepted Answer

LinkedIn is using benefit segmentation by focusing on the specific needs of business professionals who are seeking to network with colleagues, share their expertise, post online resumes, and find new jobs. Benefit segmentation involves dividing the market into groups based on the benefits that consumers seek from a product or service.

Question 18

Which of the following defines a value proposition?
A) the unique value that a product or service provides to customers
B) a special discount offer dropping the price
C) an advertisement that talks about value
D) a display of the position of products or brands in the consumer's mind
E) the one feature that will prompt a customer to buy the product

Accepted Answer

A value proposition is the unique value that a product or service provides to customers. It is the reason why customers should choose a specific product or service over others in the market. It typically focuses on how the product or service solves a customer's problem or meets their needs better than other options available.

Question 19

When evaluating the attractiveness of the segment,if a segment is expected to react positively to the firm's offering,we say that the segment is
A) responsive.
B) identifiable.
C) reachable.
D) substantial.
E) reactive.

Accepted Answer

An attractive segment should be responsive to the firm's offering, meaning that the segment is likely to show interest and purchase the product/service being offered. This is a critical component in evaluating the attractiveness of a market segment. Identifiable, reachable, substantial are also important criteria but don't directly indicate the likelihood of positive reaction to the firm's offering. Reactive is not a commonly used term in segmentation analysis.

Question 20

Choose a fast-food restaurant chain that does business in your area.Describe the company's target market,and explain how its marketing mix is designed to appeal to this target market.

Accepted Answer

The answer of Choose a fast-food restaurant chain that does...

Quiz 9: Segmentation, Targeting, and Positioning

Which of the following segmentation methods is being used when M&M's offers special wedding-themed packaging for customized M&M's (imprinted with the names of the bride and groom) ?

When Victoria's Secret offers different product lines,such as its Pink line,it is trying to capture the market by

The perceptions of __________ are being measured in a perceptual map.

Godiva Chocolates produces specially decorated boxes of candies for Valentine's Day,Easter,and Christmas.This is an example of ________ segmentation.

Why must a firm's STP strategy be consistent with and derived from the firm's mission and objectives?

In theory,why is micromarketing the ultimate in STP strategy? What is the weakness associated with micromarketing?

Develop a lifestyle segmentation scheme for students at your university,and label and describe three segments.You can think of this as developing your own version of the VALS tool,but specifically for college students.

Which of these is not one of the main components of a value proposition?

In the Circles for a Successful Value Proposition framework,the value proposition is represented by

Overriding desires that drive how we live our lives are called

Micromarketing is also referred to as

In the Circles for a Successful Value Proposition framework,the portion of the customer needs / wants circle that doesn't overlap with anything else represents

What is the best situation in the Circles for a Successful Value Proposition framework?

Which of the following defines a value proposition?

When evaluating the attractiveness of the segment,if a segment is expected to react positively to the firm's offering,we say that the segment is

Choose a fast-food restaurant chain that does business in your area.Describe the company's target market,and explain how its marketing mix is designed to appeal to this target market.