The purpose behind all efforts at market segmentation is to
a. ensure that every product is unique.
b. subdivide a large population into identical smaller segments
c. find the largest market segment that will constitute 90 percent of your market share
d. identify consumers that share common characteristics that will lead them as a group to respond distinctively and positively to the right marketing program
Question 2Which type of firm is one of the three major categories of firms that conduct marketing research?
a. Marketing research companies
b. Advertising agencies
c. Companies that produce or sell products and services
d. All of these are correct.
e. None of these are correct.
Question 3The STP approach is strongly recommended when markets are:
a. homogenous with respect to consumer characteristics
b. homogenous with respect to consumer needs
c. diverse with respect to consumer needs
d. not well understood by marketers
Question 4Acme Corporation has identified several new market opportunities but has limited funds to invest and therefore cannot pursue them all. Which function of market research will it conduct to identify the most promising opportunities?
a. Planning
b. Decision making
c. Problem solving
d. Performance monitoring
e. Control
Question 5The act of representing one's product so it will occupy a distinct place in the consumer's mind is known as ____.
a. positioning c. segmentation
b. targeting d. strategy
Question 6Solid marketing research is becoming increasingly important as the world moves to a
a. single monetary system.
b. global economy.
c. free market system of trade.
d. more regulated business environment.
e. All of these are correct.
Question 7In an ad for Xootr adult motorized scooter the picture compares it to a child's scooter and the tagline is Joy for toy.. This is an example of emotional, not functional benefit positioning.
Indicate whether the statement is true or false
Question 8____________ marketing research helps management isolate trouble spots and keep abreast of current operations.
a. Planning
b. Decision-making
c. Problem-solving
d. Performance-monitoring
e. Control
Question 9A brand's value proposition is a statement of the benefits of the brand that provide value to its target consumers and includes functional, emotional, and self-expressive benefits.
Indicate whether the statement is true or false
Question 10________ marketing research focuses on the short- or long-term decisions that the firm must make with respect to the elements of the marketing mix.
a. Planning
b. Decision-making
c. Problem-solving
d. Performance-monitoring
e. Control
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