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Dividing consumers into markets based on where they live is referred to as market segmentation.
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Offering cellular telephone plans suited to the number of phones in a family and the amount of minutes used in one month is an example of marketing a product based on product usage.
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Marketing-Chapter 7
| Question | Answer |
|---|---|
| Dividing consumers into markets based on where they live is referred to as market segmentation. | False |
| Offering cellular telephone plans suited to the number of phones in a family and the amount of minutes used in one month is an example of marketing a product based on product usage. | True |
| Unlike the consumer market, the business market is fairly stable and is not segmented into various categories. | False |
| The product user positioning strategy encourages use of a product or service by associating a personality or type of user with the product. | True |
| Companies must be careful not to base their positioning decisions solely on the actions of their competitors. | True |
| The price and quality positioning strategy always stresses higher price as a sign of quality. | False |
| It is impossible for organizations to base their positioning strategies on the business environment because conditions change so rapidly and unexpectedly. | False |
| Indirect competition occurs when businesses decide to emphasize factors of their marketing mix other than price. | False |
| Competition forces businesses to offer reasonable prices for the products and services that consumers use. | True |
| The type of competition faced by a business will affect its positioning. | True |
| When businesses are in direct competition, competitors’ pricing strategies are very important. | True |
| Making products available at more locations is always a good idea, because that will make it easier for customers to obtain your products. | False |
| A new product will usually cause at least a temporary shift in consumer purchases until customers decide whether or not they like it. | True |
| It is always costly and time-consuming to change promotional strategies. | False |
| The Internet is virtually useless as a source of current competitive information. | False |
| This approach directs a company’s marketing mix at a large and heterogeneous group of consumers. | Mass Marketing |
| People’s interests and values are referred to as: | Psychogrphics |
| Market segments should be evaluated on all of the following characteristics except | employees’ desire to serve potential customers. |
| Which of the following is the last step in identifying potential market segments? | Use market information to choose the markets that present the greatest and least amount of potential. |
| If a camera manufacturer markets its cameras as taking sharper, clearer pictures than competing models, how is it positioning its products? | Attribute |
| Which of the following is an example of indirect competition? | Blockbuster Video vs. Showcase Video Cinema |
| Which of the following is not a benefit of competition? | It guarantees low employment rates and low inflation rates. |
| A restaurant that advertises an all-you-can-eat dinner buffet for $3.95 is probably engaging in | price competition |
| An exhibition where companies associated with an industry gather to showcase their products is called a(n) | Trade Show |
| The process of dividing a large group of consumers into subgroups based on specific characteristics and common needs. | Market segmentation |
| The descriptive characteristics of a market such as age, gender, race, income, and educational level | Demographics |
| Divides consumers into groups depending on specific values or benefits they expect or require from the use of a product or service | Benefits Segmentation |
| An identified market with excellent potential based on careful research 31. Market position-refers to the unique image of a product or service in a consumer’s mind relative to similar competitive offerings | Market Opportunity |
| The portion of the total market potential that each company expects in relation to its competitors | Market share |
| Refers to the unique image of a product or service in a consumer’s mind relative to similar competitive offerings | Market position |
| Is competition in a market with businesses that offer the same type of product or service | Direct competition |
| Occurs when a business competes with other companies offering products that are not in the same product category but that satisfy similar customer needs. | Indirect competition |
| Rivalry among businesses on the basis of price and value | Price competition |
| Occurs when businesses decide to emphasize factors of their marketing mix other than price. | Non-Price Competition |
| The total revenue that can be obtained from the market segment | Market potential |
| The image consumers have of competing goods and services in the marketplace are called? | consumer perceptions |
| 39. The process of gaining competitive market information is called? | market intelligence |
Created by:
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