Business True or False Set I and II Assignment

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True or False Set I

1) Mass marketing involves identifying market segments, selecting one or more of them, and developing products and marketing programs tailored to each.( )Page Ref:203

2) The customer-driven marketing strategy involves four steps: market segmentation, market targeting, positioning, and differentiation.( )Page Ref:192

3) Geographic segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.
( )Page Ref: 193

4) Gender segmentation has long been used in clothing, cosmetics, toiletries, and magazines.
( )Page Ref: 195

5) Psychographic segmentation divides buyers into different segments based on social class, lifestyle, or personality characteristics. ( )Page Ref: 196

6) Demographic segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product. ( )Page Ref: 198

7) Benefit segmentation requires finding the major benefits people look for in a product class, the kinds of people who look for each benefit, and the major brands that deliver each benefit.
( )Page Ref: 198

8) When segmenting by user status, markets are segmented into light, medium, and heavy product users.( )Page Ref: 199

9) When segmenting by usage rate, markets can be segmented into nonusers, ex-users, potential users, first-time users, and regular users of a product.( )Page Ref: 199

10) Marketers usually limit their segmentation analysis to only one major variable.
( )Page Ref: 200

11) Intermarket segmentation refers to forming segments of consumers who have different needs and buying behaviors in a given geographical region.( )Page Ref: 201

12) In evaluating different market segments, a firm should look at three factors: segment size and growth, segment structural attractiveness, and company objectives and resources.
( )Page Ref: 203-204

13) The relative power of buyers affects segment attractiveness.( )Page Ref: 203

14) A target market consists of a set of buyers who share common needs or characteristics that the company decides to serve.( )Page Ref: 203
15) Using an undifferentiated marketing strategy, a firm decides to target several market segments and designs separate offers for each.( )Page Ref: 203

16) Using a segmented marketing strategy, a firm might decide to ignore market segment differences and target the whole market with one offer.( )Page Ref: 203

17) When using a niche marketing strategy, a firm goes after a large share of one or a few smaller segments. ( )Page Ref: 204

18) Niche marketing involves tailoring brands and promotions to the needs and wants of local customer groups—cities, neighborhoods, and even specific stores.( )Page Ref: 208

19) Individual marketing is also known as one-to-one marketing, mass customization, and markets-of-one marketing.( )Page Ref: 208

20) Product differentiation refers to the way a product is defined by consumers on important attributes—the place the product occupies in consumers’ minds relative to competing products.
( )Page Ref: 192

21) A product position is the way a product is defined by consumers on important attributes.
( )Page Ref: 210

22) To the extent that a company can differentiate and position itself as providing superior customer value, it gains competitive advantage.( )Page Ref: 211

23) Firms that practice product differentiation gain competitive advantage through the way they design their channel’s coverage, expertise, and performance.( )Page Ref: 212

24) Less-for-much-less positioning involves meeting consumers’ lower performance or quality requirements at a much lower price.( )Page Ref: 215

25) Kia Motors offers a new car model with the same features as other cars in the same segment. However, Kia’s

True or False Set II

1) A service refers to an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything.( )Page Ref: 226

2) Unsought products are products that the customer usually buys frequently, immediately, and with a minimum of comparison and buying effort.( )Page Ref: 229

3) Shopping products are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style. ( )Page Ref: 229

4) The augmented product is the actual product plus the various services and benefits offered with it, such as a warranty, free delivery, installation, and maintenance.( )Page Ref: 228

5) Style is a larger concept than design. Design simply describes the appearance of a product.
( )Page Ref: 232

6) Branding decisions include selecting a brand name and developing a brand strategy.
( )Page Ref: 233

7) For many companies, the package itself has become an important promotional medium.
( )Page Ref: 233-234

8) Labels range from simple tags attached to products to complex graphics that are part of the packaging.( )Page Ref: 234-235

9) A product line consists of unrelated products that are sold to diverse customer groups.
( )Page Ref: 236

10) Product line filling is overdone if it results in cannibalization and customer confusion.
( )Page Ref: 236

11) A company cannot stretch its product line downward. Answer: ( )Page Ref: 236

12) Product mix width refers to the total number of items a company carries within its product lines.( )Page Ref: 237

13) Sometimes, companies stretch upward to add prestige to their current products.
( )Page Ref: 236

14) A company’s product mix has four important dimensions: width, length, depth, and consistency. ( )Page Ref: 237

15) Service inseparability means that the quality of services depends on who provides them, as well as when, where, and how they are provided.( )Page Ref: 238
16) In a service business, the customer and the front-line service employee interact to co-create the service.( )Page Ref: 239

17) Within a given hotel reputed for its superior service, one registration-desk employee may be cheerful and efficient, whereas another may be irritable and slow. This exemplifies service variability.( )Page Ref: 238

18) Service companies can differentiate their service delivery by having more able and reliable customer-contact people.( )Page Ref: 242

19) Product quality is harder to define and judge than service quality.( )Page Ref: 242

20) Good service recovery can turn angry customers into loyal ones.( )Page Ref: 242

21) Attributes are the least desirable level for brand positioning because competitors can easily copy attributes.( )Page Ref: 245

22) The strongest brands do not engage customers on a deep, emotional level.
( )Page Ref: 245

23) Co-branding occurs when retailers and wholesalers create their own store brands.
( )Page Ref: 250

24) Line extension refers to extending an existing brand name to new product categories.
( )Page Ref: 250

25) Multi-branding offers a way to establish different features that appeal to different customer segments, lock up more reseller shelf space, and capture a larger market share.
( )Page Ref: 252

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