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Download Strategic Marketing International 1st Edition Mooradian Test Bank all chapters
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Exam
Name___________________________________
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) In the market segmentation process, customer needs, wants, and demands are considered segment 1)
________.
A) bases B) specializations C) psychographics D) descriptors
Answer: A
Explanation: A)
B)
C)
D)
2) The text describes how Lexus was able to successfully enter the luxury sedan market despite the 2)
dominance of BMW. Which of the following best explains how Lexus accomplished this task?
A) Lexus focused on the market segment that valued reliability.
B) Lexus used advertising that attacked BMW's quality ratings.
C) Lexus targeted customers who were interested in high performance.
D) Lexus used full market coverage to lower BMW's market share.
Answer: A
Explanation: A)
B)
C)
D)
3) Most marketers use either a SWOT analysis or a(n) ________ when they need to identify the best 3)
markets to target with a specific product.
A) strength/attractiveness matrix B) perceptual map
C) decision model D) demographic survey
Answer: A
Explanation: A)
B)
C)
D)
4) When New Port Shipping uses segmented marketing, the firm targets several segments and offers a 4)
unique product tailored to each one. This approach is called ________ marketing.
A) niche B) concentrated
C) differentiated D) undifferentiated
Answer: C
Explanation: A)
B)
C)
D)
1
5) Firms can most likely identify competitive advantages with a framework based on their ________. 5)
A) supply curve B) value chain C) marketing mix D) sales ratio
Answer: B
Explanation: A)
B)
C)
D)
7) Matching a firm's competitive advantages with attractive market opportunities is best known as 7)
________.
A) segmenting B) targeting C) positioning D) differentiating
Answer: B
Explanation: A)
B)
C)
D)
8) Which of the following best describes a differentiated marketing strategy of product specialization? 8)
A) one product and one segment B) many products and one segment
C) many products and many segments D) one product and many segments
Answer: D
Explanation: A)
B)
C)
D)
10) All of the following are examples of segmentation bases EXCEPT ________. 10)
A) profitability B) reliability C) performance D) economy
Answer: A
Explanation: A)
B)
C)
D)
2
11) The division of buyers into groups based on lifestyle or personality characteristics is ________ 11)
segmentation.
A) behavioral B) psychographic C) geographic D) demographic
Answer: B
Explanation: A)
B)
C)
D)
12) Which type of market coverage strategy requires a firm to have the most detailed understanding of 12)
its target market?
A) niche marketing B) undifferentiated marketing
C) mass marketing D) behavioral target marketing
Answer: A
Explanation: A)
B)
C)
D)
13) Targeting more than one segment with a single marketing mix is known as ________. 13)
A) straddling B) segmenting C) positioning D) target drift
Answer: A
Explanation: A)
B)
C)
D)
14) Which term refers to the loss of focus on the target segment in favor of other segments? 14)
A) target drift B) straddling C) repositioning D) segment shift
Answer: A
Explanation: A)
B)
C)
D)
3
16) In market segmentation, ________ are any underlying motivations that drive consumer 16)
consumption, such as security or shelter.
A) needs B) benefits C) values D) demands
Answer: A
Explanation: A)
B)
C)
D)
17) Each year, Honeywell asks every department manager to rate his or her department's strengths and 17)
weaknesses as well as those of the other departments with which the department interacts. Then
each department manager is asked what he or she sees as the greatest threats and opportunities for
the company. Honeywell is asking its department managers to engage in a(n) ________.
A) functional planning session B) market analysis
C) SWOT analysis D) compatibility assessment
Answer: C
Explanation: A)
B)
C)
D)
19) Which term refers to the outcome or consequence of purchasing a product? 19)
A) benefit B) respect C) value D) perception
Answer: A
Explanation: A)
B)
C)
D)
20) A marketer decides to serve several different needs of one segment with multiple products and 20)
marketing programs. Which type of differentiated marketing is most likely being used by the
marketer?
A) selected specialization B) segment specialization
C) product specialization D) full market coverage
Answer: B
Explanation: A)
B)
C)
D)
4
21) A marketer who has decided to use the GE/McKinsey Portfolio Planning Grid will most likely 21)
assess segments based on ________ and ________.
A) segment attractiveness; strength of the firm
B) segment size; competitive advantages
C) strength of the firm; long-term market share
D) product category; segment attractiveness
Answer: A
Explanation: A)
B)
C)
D)
22) According to the text, which of the following best explains why the marketing mix receives 22)
different customer responses?
A) declining monetary values B) varying customer needs
C) shifting political cultures D) rising education levels
Answer: B
Explanation: A)
B)
C)
D)
23) A firm that targets very broad segments with relatively homogeneous offerings is most likely using 23)
a ________ marketing strategy.
A) niche B) multi-segment C) target D) global
Answer: D
Explanation: A)
B)
C)
D)
24) Which of the following is NOT an example of a demographic segmentation variable? 24)
A) income B) gender C) education D) lifestyle
Answer: D
Explanation: A)
B)
C)
D)
25) Which of the following is LEAST likely to be considered a competitive advantage for a firm? 25)
A) transferable technology B) valuable resources
C) substitutable products D) rare capabilities
Answer: C
Explanation: A)
B)
C)
D)
5
26) The division of buyers into groups based on their product knowledge, usage rate, or loyalty is 26)
________ segmentation.
A) geographic B) demographic C) behavioral D) psychographic
Answer: C
Explanation: A)
B)
C)
D)
27) A firm that selects and focuses on one or a few single segments is most likely using a strategy of 27)
________.
A) segment specialization B) selected specialization
C) full market coverage D) product specialization
Answer: B
Explanation: A)
B)
C)
D)
28) Deploying the marketing mix to claim a unique, valued, and defensible position in the marketplace 28)
is known as ________.
A) targeting B) segmenting C) differentiating D) positioning
Answer: D
Explanation: A)
B)
C)
D)
29) Age, income, lifestyle, and location are examples of ________. 29)
A) perceptual needs B) segment descriptors
C) segmentation bases D) psychographic categories
Answer: B
Explanation: A)
B)
C)
D)
30) Which of the following refers to the process of dividing a market into meaningful and distinct 30)
customer groups?
A) segmentation B) positioning C) targeting D) differentiation
Answer: A
Explanation: A)
B)
C)
D)
6
TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.
31) Marketing efforts to develop customer loyalty will be more successful if the marketer has a solid 31)
understanding of customer needs.
Answer: True False
Explanation:
32) Core competencies and competitive advantages are the strengths possessed by a firm. 32)
Answer: True False
Explanation:
33) The four substeps of strategy formation in the order that they should occur are identifying 33)
competitive advantages, segmenting the market, positioning the product, and targeting the
customers.
Answer: True False
Explanation:
34) A strategy of differentiated marketing will most likely lead to superior value and lower unit costs. 34)
Answer: True False
Explanation:
35) Unlike business markets, consumer markets can be described by demographic and psychographic 35)
variables.
Answer: True False
Explanation:
ESSAY. Write your answer in the space provided or on a separate sheet of paper.
38) What is differentiated marketing? What are the advantages and disadvantages of this strategy?
Answer: Differentiated marketing means that a company develops individual marketing programs for different
individual target segments. As it tailors products and marketing programs to the segments, it can better
meet the segment-specific needs and requirements, and it can, therefore, create superior value and
demand price premiums. The downside is a higher complexity of the organization and the product
portfolio, lower economies of scale (standardized products and marketing mixes optimize economies of
scale, but economies of scope can still be achieved across products/programs), and, as a consequence,
higher unit costs.
7
Answer Key
Testname: C4
1) A
2) A
3) A
4) C
5) B
6) C
7) B
8) D
9) D
10) A
11) B
12) A
13) A
14) A
15) B
16) A
17) C
18) D
19) A
20) B
21) A
22) B
23) D
24) D
25) C
26) C
27) B
28) D
29) B
30) A
31) TRUE
32) TRUE
33) FALSE
34) FALSE
35) FALSE
36) The primary reason to differentiate customers into segments is to capture the strategic advantage of meeting differing
needs with tailored mixes. The objective and the key to successful segmentation is to find differing needs that match
the firm's competitive advantages and thus can be served at a profit better than by the competition. Finding substantial
differences that others have overlooked can constitute a "customer insight." It can create a significant opportunity for
the firm.
37) SWOT analysis—Strengths, Weaknesses, Opportunities, and Threats analysis—is a powerful tool for targeting
appropriate markets with effective offerings. It summarizes the juncture of external analyses (situation assessment of
customers, the context, and competitors) and internal analysis (strengths and weaknesses). The SWOT framework
organizes strengths, weaknesses, opportunities, and threats to identify strategic actions to achieve desired ends.
38) Differentiated marketing means that a company develops individual marketing programs for different individual
target segments. As it tailors products and marketing programs to the segments, it can better meet the
segment-specific needs and requirements, and it can, therefore, create superior value and demand price premiums.
The downside is a higher complexity of the organization and the product portfolio, lower economies of scale
(standardized products and marketing mixes optimize economies of scale, but economies of scope can still be achieved
across products/programs), and, as a consequence, higher unit costs.
8
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