J 7 1)QUESTIONSinvolves dividing a market into smaller segmentsof buyers with distinct needs, characteristics, or behaviors thatmight require separate marketing strategies or mixesA) Mass customizationB) Market targetingMarket segmentationD) DifferentiationE) Positioninginvolves actually distinguishing the firm's marketoffering to create superior customer value.A) Mass customizationB) DifferentiationCi Market segmentationD) DiversifyingE) Targeting3)consists of arranging for a market offering tooccupy a clear, distinctive, and desirable place relative tocompeting products in the minds of target consumers.A) Mass customizationB) TargetingC) SegmentationD) DifferentiationE) Positioning4)segmentation divides the market into segments based onvariables such as age, life-cycle stage, gender, income, occupation, 8)education, religion, ethnicity, and generation.A) GeographicB) BenefitC) OccasionD) PsychographicE) Demographic5) Which of the following is true with regard to products?A) The quality of products is far more difficult to measurethan that of servicesB) Products do not include experiences, organizations,persons, places, and ideasC) Products are not meant for sale in the market.D) Products include services, events, person, places,organizations, ideas, or a mixture of theseE) Products refer to only those activities that are essentiallyintangible6) Marketing mix planning begins withA) building an offering that brings value to target customersB) finding a suitable promotion strategy for the productC) setting a reasonable price for the productD) selecting the right channel for distribution of the productE) calculating the total costs involved in manufacturing theproduct7) Which of the following is an example of aconvenience product?A) fast foodB) diamond ringC) furnitureD) life insuranceE) refrigeratoroccurs when a company lengthens itsproduct line beyond its current range.A) Product line fillingB) Product line stretchingC) Co-brandingD) Niche marketingE) Market diversification

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of buyers with distinct needs, cha might require separate marketing strategies or mixes A) Mass customization B) Market targeting Market segmentation D) Differentiation E) Positioning involves actually distinguishing the firm's market offering to create superior customer value. A) Mass customization B) Differentiation C) Market segmentation D) Diversifying E) Targeting consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. A) Mass customization B) Targeting C) Segmentation D) Differentiation E) Positioning

of buyers with distinct needs, cha might require separate marketing strategies or mixes A) Mass customization B) Market targeting Market segmentation D) Differentiation E) Positioning involves actually distinguishing the firm's market offering to create superior customer value. A) Mass customization B) Differentiation C) Market segmentation D) Diversifying E) Targeting consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. A) Mass customization B) Targeting C) Segmentation D) Differentiation E) Positioning

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter23: Managing Vertical Relationships

Section: Chapter Questions

Problem 1MC

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