MAR3023 Quiz 3

Robert Black, regional manager for Ford in Texas and Oklahoma, faced a dilemma. The Ford F-150 pickup truck was the best-selling pickup ever, yet Ford's headquarters in Detroit had decided to introduce a completely redesigned F-150. How could Mr. Black sell both trucks at the same time? He still had "old" F-150s in stock. In his advertising, Mr. Black referred to the new F-150s as follows: "Not a better F-150. Just the only truck good enough to be the next F-150." This statement represents Ford's _______ of the new F-150.

_____ is the targeting approach of the past; _____ is the targeting approach of the future.

A business firm segments its market when this strategy is expected to increase its sales revenue, profit, and return on investment. When its increases in expenses due to segmentation exceed the potential increased revenues from segmentation, it should:

To avoid cannibalization within company product lines, firms use:

Marketers use market segmentation:

What is the most likely way for consumers to benefit because a firm uses a strategy of one product for multiple market segments?

Modern Maturity magazine is a publication that is sent to all AARP members, who have to be at least 50 years old to join. The market segment for Modern Maturity magazine was defined by:

Grandpa Joe swears by Henry Ford's targeting strategy, "You can buy a Ford in any color you want, as long as it's black." Back in the day, Ford used to make the same car for all of its customers. Little Bobby disagrees. He likes to go on the Internet and, using a menu provided by the manufacturer, personally design his cars to fit his exact specifications. Grandpa believes in a _____ targeting strategy while Bobby believes in a _____ targeting strategy.

Within the past year Dodge has started placing advertising emphasis on the luxurious amenities of their high horsepower vehicles. They advertise the smooth quiet ride, leather seats, stylish design, and child safety - even though men traditionally care only about the engine horsepower, towing capacity, and related features. It is expected that this will become a common marketing strategy for all car manufacturers over the next 10 years. Dodge has taken the initiative in responding to what trend discussed in class?

With the recent surge in the showing of commercials to movie theater audiences, many companies have found it to be an innovative medium to reach large numbers of consumers. For instance, several beverage products, including sports drinks, soft drinks, and bottled water, advertise heavily in theaters, where they know a very broad and diffuse cross-section of consumers can be reached. Advertising in this medium relies on _________.

Which of the following statements describes a product benefit positioning approach?

At a Hallmark store you can find several different brands of greeting cards, including Fresh Ink, Nature's Sketchbook, Shoebox, Maxine, Mahogany, and Tree of Life cards all made by Hallmark for sale in its stores. Hallmark is using a _____ strategy to reach several different market segments.

Variables such as location, the North American Industry Classification System (NAICS) code, and number of employees are all examples of ways to:

Seventh Heaven is a television show that is designed to have a broad appeal to a wide number of groups. It is a show that is appropriate to watch with young children without having to worry about being embarrassed. It is a show that teaches the importance of moral values by showing teens on the show learning to cope with real-life problems without being too moralistic. It appeals to an older market because it is reminiscent of TV dramas of previous decades. This WB television show is an example of:

Chingy's Shoelace Company sells all sorts of shoelaces. In the past, Chingy's has advertised in "Gym Shoe Weekly", a specialty magazine read by dedicated gym shoe enthusiasts. In an effort to increase sales, Chingy's has decided that it will now advertise in the magazine "Everyone" which has a huge following of readers from all different backgrounds. Chingy's hopes that potential consumers of their products notice it when they come across the Chingy's advertisement in "Everyone." Chingy's has shifted its strategy from _____ to _____.

Gary is trying to design a marketing campaign for a new online bookstore, BigBooks.com, using a "one size fits all" approach. Which of the following approaches to targeting is Gary using?

Christy flips through her monthly issue of Cosmopolitan. After seeing nine different perfume advertisements, she goes to the mall and purchases Romance by Ralph Lauren. This example represents which of the segmentation criteria discussed in class?

Bath Boutique is a small company that sells specialty bath products at a premium price. They do not have much competition and are able to serve their small group of customers very well by providing excellent service. Bath Boutique uses which kind of targeting strategy?

Which of the following data are collected from consumers to develop a perceptual map for a particular product category?

A perceptual map can be used to identify a firm's product in terms of how closely it fits the "ideal" and where it fits in relationship to competitors. The map is based on perceptions of:

Tom goes to purchase a baseball. Although there are many attractive choices, a particular brand states on its package that it is the "Baseball of Major League Baseball players." This brand is using which approach to positioning?

Abercrombie & Fitch devotes its advertising and marketing resources toward reaching its target market of college-age consumers. The company was concerned that the image of its stores would be negatively affected if they become a place for teens to hang out, so they developed the Hollister chain to target the teen (14-18 year old) market. Hollister merchandise is priced 20-30 percent less than A&F's, and it is much brighter with bigger logos. Hollister's in-store decor is more of a beach party, while A&F's is a rugged, outdoor theme. This A&F/Hollister segmentation based on differential response to marketing variables relies on: