Morgan ‘Brooke’ Stewart
Reid Priestly
Mary Becker
Braden Williams
Alec Estes
Chase Young
Kersten Criddle
Kennan Foy
Alison Claire Goodwin
Group 7: CH. 8
October 10th, 2014
Group 7: Chapter 8 Quiz
BA 3301
J. Harper
1. Geographic segmentation refers to segmenting markets by ___________
A. age, gender, income, ethnic background, and family life style.
B. regions of a country or the world, market size, market density, or climate.
C. making clusters of potential customers into neighborhood lifestyle categories.
D. the demographic factors of gender, age, and income.
2. What are the differences between satisficers and optimizers?
A. Satisficers contact familiar suppliers and use the first one that satisfy their wants
where optimizers may look into numerous suppliers before purchasing.
B. Satisficers never get the best deal that satisfies them.
C. Optimizers are indecisive so they usually miss the better deal.
D. Satisficers study all proposals carefully before selecting one, optimizers order
with the first one that meet their product and delivery requirements.
3. What is an advantage of Multi-segment Targeting?
A. Concentration of resources
B. Allows small firms to compete with large firms
C. Greater financial success
D.Potential savings on production/marketing costs
4. What target strategy is better suited for smaller firms?
A. Concentrated Targeting
B. Multisegment Targeting
C. Geographic Target Marketing
D. Undifferentiated Targeting
5. ____________ is the process of grouping customers into market segments
according to the benefits they seek from the product.
A. Benefit segmentation
B. Geodemographic segmentation
C. Usage-Rate segmentation
D. Psychographic segmentation
6. Segmenting by ________ allows business marketers to tailor their marketing
mixes to the unique needs of particular types of organizations or industries.
A. Type of company
B. customer type
C. personal characteristics
D. Volume of purchase
7. Benefit segmentation is different because it groups potential customers on
the basis of their ________ rather than on some other characteristic, such as age
or gender.
A. beliefs
B. needs or wants
C. attitude
D. age and income
8. Which of the following is NOT one of the steps in segmenting a market?
A. Choose a basis or bases for segmenting the market
B. Profile and analyze segments
C. Select markets
D. Determine what your target market is
9. What is the correct term for repositioning?
A. Developing a specific marketing mix to influence potential customers’ overall
perception of a brand, product line, or organization in general
B. The place a product, brand or group of products occupies in consumers’ minds
relative to competing offerings
C. A positioning strategy that some firms use to distinguish their products from
those of competitors
D. Changing consumers’ perceptions of a brand in relation to a competing brand
10. What is a positioning strategy that some firms use to distinguish their
products from those of competitors?
A. Unique Positioning
B. Product Differentiation
C. Distinguishing
D. Contrasting Competitors
11. Which is not an example of an important segmentation variable for a
company?
A. Geographic location
B. Type of company
C. Company size
D. Company distribution strategy
12. Which of the following is an advantage of an undifferentiated targeting
strategy?
A. It offers potential savings on production and marketing costs.
B. It reduces a company's susceptibility to competition.
C. It makes a company's product offerings more imaginative and attractive.
D. It enables strong product positioning.
13. With a(n) ________ strategy, a firm selects one segment of a market for
targeting its marketing efforts.
A. one-to-one marketing
B. undifferentiated targeting
C. one-to-one marketing
D. concentrated targeting
14. Which of the following is true of CRM?
A. CRM system require customers to spend more time making purchase decisions.
B. CRM systems are dependent on traditional mass-media approaches to
marketing.
C. CRM systems, when personalized, cater to consumers’ desire to be treated as
individuals.
D. CRM is unlikely to experience much growth because it is a huge commitment for
marketers.
15. A means of displaying, in two or more dimensions, the location of
products, brands, or groups of products in customers' minds is called ________ .
A. rebranding
B. product differentiation
C. perceptual mapping
D. repositioning
16. A situation that occurs when sales of a new product cut into sales of a
firm’s existing products is known as ______________.
A. diversification
B. cannibalization
C. differentiation
D. segmentation
17. A marketing approach that views the market as one big market with no
individual segments and thus uses a single marketing mix is called a(n)
________ .
A. undifferentiated targeting strategy
B. multisegment targeting strategy
C. global market standardization
D. direct-response targeting strategy
18. Business customers who place an order with the first familiar supplier to
meet product and delivery requirements are called ________ .
A. maximizes
B. satisficers
C. augmenters
D. optimizers
19. A series of stages determined by a combination of age, martial status, and
the presence or absence of children is ___________.
A. Family life cycle (FLC)
B. one segment term
C. Buying process
D. Method of inquiry
20. Which of the following is part of the step process in Segmenting Markets?
A. Select a market for study
B. Choose bases for segmentation
C. Select descriptors
D. All of the above
21. What did Ashton Kutcher and Mila Kunis name their first baby girl?
A. Prim Rose Kutcher
B. Wyatt Isabella Kutcher
C. Wylie Caroline Kutcher
D. Jocelynn Elaine Kutcher
22. Who beat the Dallas Stars last night 3-2?
(the Dallas Stars is a hockey team just FYI)
A. Chicago Blackhawks
B. Texas Rangers
C. Colorado Avalanche
D. Winnipeg Jets
23. ____________ is down about $10 million in endorsements compared to last
year, allowing LeBron James to take over as most valuable sports brand.
A. Rory McIlroy
B. Blake Griffin
C. Johnny Manziel
D. Tiger Woods
Answers for Ch. 8 Quiz
1. B- regions of a country or the world, market size, market density, or climate.
2. A- Satisficers contact familiar suppliers and use the first one that satisfy their
wants where optimizers may look into numerous suppliers before purchasing.
3. C- Greater financial success
4. A-Concentrated Targeting
5. A- Benefit segmentation
6. B- customer type
7. B- needs or wants
8. D. Determine what your target market is
9. A- Developing a specific marketing mix to influence potential consumers’ overall
perception of a brand, product line, or organization in general
10. B- Product differentiation
11. D- Company
12. A- It offers potential savings on production and marketing costs.
13. D- concentrated targeting
14. C- CRM systems, when personalized, cater to consumers’ desire to be treated as
individuals.
15. C- Perceptual mapping
16. B- cannibalization
17. A- undifferentiated targeting strategy
18. B- satisficers
19. A- Family life cycle (FLC)
20. D- All of the above
21. B- Wyatt Isabella Kutcher
22. A- Chicago Blackhawks
23. D- Tiger Woods