The three steps on the market segmentation process include identifying segmentation bases creating market segments and a Targeting those segments b Profiling those segments c Creating marketing programs to reach those segments d Developing marketing plans e All of the above Probably is the method of segmenting markets that is most consistent with the tenets of the marketing concept a Lifestyle segmentation b Usage occasion segmentation c Demographic segmentation d Psychographic segmentation e Benefit segmentation The 80 20 principle is most closely associated with the method of segmenting markets a Benefit segmentation b Usage occasion c Lifestyle d Usage rate e Demographic a Benefit segmentation b Usage occasion c Lifestyle d Usage rate e Demographic AIO items are employed in surveys to assess consumers profiles As consumers age they tend to move from one stage of the family life cycle to the next Each stage of the life cycle can be treated as a different market segment because select all that apply a Consumers needs for different products and services generally change from one stage to the next b Key consumption related demographic mediagraphic and psychographic traits may change from one stage to the next c Consumers incomes may change d Consumption related attitudes may change e Brand preferences may change In general the selection of a segmentation base or bases will tend to determine at least in part the firm s positioning strategy a True b False The Wendy s where s the beef campaign was an effective use of a humor appeal to cement the brand s position in the minds of consumers The competitive positioning strategy employed was a Like similar to but better than b Like but just an alternative to other brands Not necessarily c Very different from other brands i e positioned far away from d All of the above e None of the above better other brands to avoid confusion Firm s wishing to exploit a niche often prefer which type of competitive positioning strategy better other brands to avoid confusion a Like but better than b Like but just an alternative to other brands Not necessarily c Very different from other brands i e positioned far away from d All of the above As discussed in class Pepsi s failed Pepsi AM introduction some years ago employed what type of positioning strategy a Competitive b Benefit or attribute c Lifestyle d Usage occasion e Toward own brand Firms choosing to employ the positioning strategy positioning toward own brand can do so because a No other positioning strategy is available effective positioning campaigns b Have access to extensive advertising resources needed for c They have the resources to make it work d They have a history of exceptionally strong positive images for e All of the above their products and therefore substantial brand equity Sometimes it is necessary to change a brand s personaility as markets or other environmental conditions change Changing the brand s personality is called Warrantees service delivery credit terms are associated with which level of product The level of product the captures the benefits basic quantities and other values is the of a product a Lifestyle modification b Counter positioning c Re branding d Repositioning e None of the above a Core b Physical c Basic d Enhanced e None of the above a Core Values Core Product b Physical c Basic d Enhanced e None of the above Which of the following is least characteristic of convenience goods a Requires exclusive distribution b Consist of staple and emergency goods c Rely heavily on manufacturer supported promotion d Consumers treat their purchase as relatively low involvement e Usually lower in price Patricia extensively compared brands and prices for SLR camera equipment prior to finally deciding on the Nikon D300 Pat essentially has treated camera equipment as a good a Convenience b Low involvement c Shopping d Emergency e Specialty a Convenience b Low involvement c Shopping d Emergency e Specialty a Width b Depth c Length d Scope e All of the above Consumers are most likely to engage in extensive decision making for goods P G has decided to add a line of life insurance instruments targeted to consumers of its existing brands This decision will result in P G increasing the of its product mix Air filters installed in new trucks at the factory are best classified as while these same filters when replaced by the owner a trucking company are probably a Raw materials component parts b Fabricating materials component c Operating supplies component parts d Installations component parts e Component parts operating supplies Which of the following is least representative of the installation as an organizational product a Tends to be very expensive b Usually capitalized on balance sheets and depreciated over time c Contributes substantially to the firm s scale of operations d Probably requires rather extensive decision making when e Purchase decisions tend be solely the responsibility of purchasing purchased agents The number of lines in a firms s product mix is referred to depth True or false a True b False When P G adds a new laundry detergent a flanker brand to its existing line of detergents it has changed the of its product mix a Width b Depth c Breadth d Scope e All of the above Which of the following is normally the longest stage of the product life cycle a Introduction b Growth c Maturity d Decline e All of the above are equally long The x axis on the PLC represents while the y axis represents unit or dollar sales a Time b Industry sales c Market share d Return on investment e Customer adoption The adopter category most responsible for moving a product into the growth stage of the PLC is a Innovator b Early adopter c Early majority d Late majority e Laggard Competition tends to be most intense during the stage of the PLC a Introduction b Growth Laggards are most associated with the stage of the PLC Managers are typically most concerned with managing life cycles a Product class b Product form c Brand d Co brand e Family brand Building selective demand is the primary strategy associated with the stage of the PLC c Maturity d Decline e Development a Introduction b Growth c Maturity d Decline e Development a Introduction b Growth c Maturity d Decline e Development You are the brand manager for Tide P G brand and are considering ways to revive lagging sales Recognizing that your brand and the product category as a whole are mature you are examining several strategic options Which