MKT 475 Week 3 Quiz - Strayer
Content
MKT 475 Week 3 Quiz – Strayer
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Chapter 02
Markets and Competitive Space
True/False Questions
1. When modularization occurs, products become commodities.
2. The influence of competing brands becomes weaker with closer substitutability and
more direct competition.
3. The product-variant product-market structure includes a broad group of products that
satisfy a general, yet similar, need.
40
4. Customer function considers the role or purpose of the good or service.
5. It is important to focus on the distributor of a product when defining the market, since
the distributor drives demand for the product.
6. The value chain analysis considers the vertical network of firms involved in production.
7. A new competitor entering a market is likely to come from companies competing in
other geographical regions with similar products.
8. Sales forecasts, typically, fall short of market potential.
9. In the initial stage of competition, the competitors concentrate on market share for end
products and profits.
10. In the final phase of competition, companies involve in partnering with the objective
of controlling industry standards.
Multiple Choice Questions
11. _____ refers to firms using simpler and less costly ways to match the value
requirements offered by the products of incumbent firms serving the market.
A. ModularizationB. Commoditization of product designsC. Disruptive innovation
D. Creating new market space
12. _____ changes products into commodities, making it difficult for companies to earn
anything more than subsistence returns from those products.A. Disruptive innovation
B. ModularizationC. CannibalizationD. Segmentation
13. The purpose of _____ is to target new opportunities where buyers' value requirements
are not being satisfied by existing products. A. disruptive innovationB. commoditization
of productsC. benchmarkingD. creating new market space
14. The _____ product-market includes a broad group of products that satisfy a larger
common need.
A. genericB. product-typeC. product-variantD. larger-type
15. Which of the following is the first step in defining and analyzing product-markets?
A. Forecasting market size
B. Determining the boundaries of the market
C. Analyzing competition
D. Predicting rate of change of the market
16. Which of the following is the second step in analyzing product-markets? A. Analyze
competitionB. Form the product-marketC. Forecast market size and rate of change
D. Analyze end users
17. Which of the following is the final step in analyzing the competition?
A. Anticipating actions by competitors
B. Evaluating key competitors
C. Identifying and evaluating potential competitors
D. Identifying key competitors
18. Which of the following is the most direct type of competition?
A. Budget competition
B. Generic competition
C. Product-category competition
D. Product-variant competition
19. _____ analysis is horizontal and only covers similar types of firms and operating
practices of the firms. A. Value chainB. IndustryC. Market segmentationD. Customer
profile
20. According to Porter’s five competitive forces, _____ recognizes that active
competition among industry members helps determine industry performance and it is the
most direct and intense form of competition. A. rivalry among existing firmsB. threat of
new entrantsC. threat of substitute productsD. bargaining power of suppliers
21. If critical inputs are in jeopardy or prices of those inputs are extraordinarily high,
companies may pursue vertical integration strategies or develop collaborative relationships
to reduce the:
A. rivalry among existing firms.B. bargaining power of buyers.C. threat of substitute
products.D. bargaining power of suppliers.
22. _____ is measured by comparing the share of the firm against the competitor with the
highest market share in the segment.
A. Market segmentation
B. Relative market position
C. Product differentiation
D. Customer segment
23. Market entry by a new competitor is likely under which of the following conditions?
A. When markets have matured and growth is slow
B. When major market-entry barriers are present
C. When competition is limited to one or a few competitors
D. When market incumbents’ profit margins have declined
24. _____ is the maximum amount of product sales that can be obtained from a defined
product-market during a specified time period.
A. Market potential
B. Sales forecast
C. Market share
D. Modularization
25. Which of the following is a major source for new competitors?
A. Companies already targeting similar customer groups with other products.
B. Companies competing in the same regions with different products.
C. Companies competing in a different product-market.
D. Companies with advanced unrelated technologies.
26. _____ is the upper limit of sales that can be achieved by all firms for a specified
product-market over an indicated time period.
A. Market potential
B. Market share
C. Differential pressure
D. Absolute threshold
27. _____ refers to the expected sales for a defined product-market during a specified time
period.
A. Market potential
B. Sales forecast
C. Market share
D. Modularization
28. Company sales divided by the total sales of all firms for a specified product-market
determines the _____ of a particular firm.
A. market potential
B. absolute threshold
C. relative market position
D. market share
29. Which of the following is an advantage of using the time-series analysis in sales
forecasting?
A. It utilizes historical data when forecasting.
B. It consumes the least amount of time in forecasting.
C. It is a very subjective type of analysis.
D. It is most effective when forecasting new or innovative products.
30. Which of the following is the final phase of competition?
A. Partnering of companies with the objective of controlling industry standards
B. Companies competing in identifying product concepts
C. Competitors concentrating on market share for end products and profits
D. Firms focusing on building competencies
Essay Questions
31. Explain the competitive box. Why is there a need for strategic thinkers to “think
outside the competitive box”?
32. Discuss the differences between a generic product-market and a product-type productmarket.
33. Identify the three guidelines for defining a product-market.
34. Explain how buyers make choices in products and brands.
35. Identify Porter's five competitive forces that impact industry performance.
Chapter 03
Strategic Market Segmentation
True/False Questions
1. Market segmentation involves choosing market targets and positioning against
alternatives to build competitive advantage.
2. Strategic segmentation is concerned with consumer lifestyles and the benefits that
different types of consumers seek in choosing and purchasing consumer electronics.
3. Operational segmentation issues are concerned with delivering relevant messages to
targets, and supporting the segmentation strategy at store level.
4. The term “market niche” refers to the largest segment of buyers in a specific market.
5. Market targeting consists of selecting one or more segments whose value requirements
provide a good match with the organization’s capabilities.
6. Segmentation is employed by first choosing a segment randomly.
7. Market segmentation lays the groundwork for market targeting and positioning
strategies.
8. The use situation variables describe brand-use and consumption.
9. Demographics are often more useful to describe consumer segments after they have
been formed rather than to identify them.
10. Market concentration determines the extent to which the supplier must tailor the
product to each organizational buyer.
Multiple Choice Questions
11. The differences in buyers according to how they use products, the needs and
preferences that the products satisfy, and their consumption patterns create market _____.
A. segmentsB. futuresC. sharesD. structures
12. _____ is the process of identifying and analyzing sub-groups of buyers in a productmarket with similar response characteristics. A. FlightingB. BenchmarkingC. Market
segmentationD. Product differentiation
13. _____segmentation links to the management vision and crucial intent of corporate
action plan, and emphasizes product benefits that different types of buyers seek.
A. ManagerialB. StrategicC. OperationalD. Advertising-oriented
14. _____ segmentation is concerned with allocating resources around segment targets,
including them in marketing plans, and aligning organizational processes around them.
A. StrategicB. NetworkC. OperationalD. Managerial
15. _____ issues are concerned with the marketing program changes needed to reach
segment targets with advertising, promotions, and distribution systems.A. Strategic
segmentationB. Managerial segmentationC. Operational segmentationD. Audience
management
16. _____ consists of evaluating and selecting one or more segments whose value
requirements provide a good match with the organization's capabilities. A. Strategic
segmentationB. Managerial segmentationC. Audience managementD. Market targeting
17. _____ variables consider how the buyer utilizes the product, such as purchasing a meal
away from home for the purpose of entertainment.
A. Use situation
B. Buyers’ needs and preferences
C. Demographic
D. Purchase-behavior
18. Which of the following segmentation variables include brand awareness?
A. Use situation variables
B. Buyers’ needs and preferences variables
C. Demographic variables
D. Purchase-behavior variables
19. Which of the following segmentation variables describe brand-use and consumption?
A. Use situation variables
B. Buyers’ needs and preferences variables
C. Demographic variables
D. Purchase-behavior variables
20. The ______ variables divide a market into segments according to the buyers’ age,
income, education, and other such characteristics. A. use situationB. buyers’ needs and
preferencesC. demographic D. purchase-behavior
21. ______ include attitudes and brand awareness. A. Use situation variablesB. Buyers’
needs and preferences variablesC. Demographic variablesD. Purchase-behavior variables
22. Which of the following is a use situation variable?
A. Lifestyle of buyers
B. Brand loyalty status
C. Prior experience with product
D. Frequency of purchase
23. Which of the following is a segmentation variable measuring buyers’ needs and
preferences?
A. Quality of the product
B. Importance of purchase
C. Geographic location of buyers
D. Size of purchase
24. _____ occurs when two competing goods are seen as varying on any physical or
nonphysical characteristics, including price. A. BenchmarkingB. FlightingC. Lifestyle
segmentationD. Product differentiation
25. Which of the following types of segmentations of customer groups would be
characterized as a response difference?
A. Frequency of purchase
B. Income
C. Industrial sector
D. Age
26. _____ see global brands as quality products and accept the cultural symbols they
provide, and are less concerned with social responsibility issues.
A. Global dreamers
B. Antiglobals
C. Global citizens
D. Global agnostics
27. Which of the following segment of consumers do not base purchase decisions on a
brand’s global attributes, and judge them on the same criteria they use for local brands?
A. Global Citizens
B. Global Dreamers
C. Antiglobals
D. Global Agnostics
28. _____ groups people according to the similarity of their answers to questions such as
brand preferences or product attributes.
A. Perceptual maps
B. Cluster analysis
C. Linear discriminant analysis
D. Factor analysis
29. Which of the following forms of segmentation seeks to identify narrowly defined
segments using one or more of the segmentation variables?
A. Mass customization
B. Variety-seeking strategy
C. Microsegmentation
D. Specialized division
30. The _____ strategy follows the logic that buyers who are offered alternatives may
increase their total purchases of a brand.
A. variety-seeking
B. mass customization
C. microsegmentation
D. macrosegmentation
Essay Questions
31. Explain the goal of strategic marketing segmentation.
32. What is market segmentation?
33. Explain target marketing.
34. Explain the activities and decisions in market segmentation.
35. List the segmentation variables.
Click on the Link Below to Purchase A+ Graded Course Material
http://hwgala.com/MKT-475-Week-3-Quiz-Strayer-433.htm
Chapter 02
Markets and Competitive Space
True/False Questions
1. When modularization occurs, products become commodities.
2. The influence of competing brands becomes weaker with closer substitutability and
more direct competition.
3. The product-variant product-market structure includes a broad group of products that
satisfy a general, yet similar, need.
40
4. Customer function considers the role or purpose of the good or service.
5. It is important to focus on the distributor of a product when defining the market, since
the distributor drives demand for the product.
6. The value chain analysis considers the vertical network of firms involved in production.
7. A new competitor entering a market is likely to come from companies competing in
other geographical regions with similar products.
8. Sales forecasts, typically, fall short of market potential.
9. In the initial stage of competition, the competitors concentrate on market share for end
products and profits.
10. In the final phase of competition, companies involve in partnering with the objective
of controlling industry standards.
Multiple Choice Questions
11. _____ refers to firms using simpler and less costly ways to match the value
requirements offered by the products of incumbent firms serving the market.
A. ModularizationB. Commoditization of product designsC. Disruptive innovation
D. Creating new market space
12. _____ changes products into commodities, making it difficult for companies to earn
anything more than subsistence returns from those products.A. Disruptive innovation
B. ModularizationC. CannibalizationD. Segmentation
13. The purpose of _____ is to target new opportunities where buyers' value requirements
are not being satisfied by existing products. A. disruptive innovationB. commoditization
of productsC. benchmarkingD. creating new market space
14. The _____ product-market includes a broad group of products that satisfy a larger
common need.
A. genericB. product-typeC. product-variantD. larger-type
15. Which of the following is the first step in defining and analyzing product-markets?
A. Forecasting market size
B. Determining the boundaries of the market
C. Analyzing competition
D. Predicting rate of change of the market
16. Which of the following is the second step in analyzing product-markets? A. Analyze
competitionB. Form the product-marketC. Forecast market size and rate of change
D. Analyze end users
17. Which of the following is the final step in analyzing the competition?
A. Anticipating actions by competitors
B. Evaluating key competitors
C. Identifying and evaluating potential competitors
D. Identifying key competitors
18. Which of the following is the most direct type of competition?
A. Budget competition
B. Generic competition
C. Product-category competition
D. Product-variant competition
19. _____ analysis is horizontal and only covers similar types of firms and operating
practices of the firms. A. Value chainB. IndustryC. Market segmentationD. Customer
profile
20. According to Porter’s five competitive forces, _____ recognizes that active
competition among industry members helps determine industry performance and it is the
most direct and intense form of competition. A. rivalry among existing firmsB. threat of
new entrantsC. threat of substitute productsD. bargaining power of suppliers
21. If critical inputs are in jeopardy or prices of those inputs are extraordinarily high,
companies may pursue vertical integration strategies or develop collaborative relationships
to reduce the:
A. rivalry among existing firms.B. bargaining power of buyers.C. threat of substitute
products.D. bargaining power of suppliers.
22. _____ is measured by comparing the share of the firm against the competitor with the
highest market share in the segment.
A. Market segmentation
B. Relative market position
C. Product differentiation
D. Customer segment
23. Market entry by a new competitor is likely under which of the following conditions?
A. When markets have matured and growth is slow
B. When major market-entry barriers are present
C. When competition is limited to one or a few competitors
D. When market incumbents’ profit margins have declined
24. _____ is the maximum amount of product sales that can be obtained from a defined
product-market during a specified time period.
A. Market potential
B. Sales forecast
C. Market share
D. Modularization
25. Which of the following is a major source for new competitors?
A. Companies already targeting similar customer groups with other products.
B. Companies competing in the same regions with different products.
C. Companies competing in a different product-market.
D. Companies with advanced unrelated technologies.
26. _____ is the upper limit of sales that can be achieved by all firms for a specified
product-market over an indicated time period.
A. Market potential
B. Market share
C. Differential pressure
D. Absolute threshold
27. _____ refers to the expected sales for a defined product-market during a specified time
period.
A. Market potential
B. Sales forecast
C. Market share
D. Modularization
28. Company sales divided by the total sales of all firms for a specified product-market
determines the _____ of a particular firm.
A. market potential
B. absolute threshold
C. relative market position
D. market share
29. Which of the following is an advantage of using the time-series analysis in sales
forecasting?
A. It utilizes historical data when forecasting.
B. It consumes the least amount of time in forecasting.
C. It is a very subjective type of analysis.
D. It is most effective when forecasting new or innovative products.
30. Which of the following is the final phase of competition?
A. Partnering of companies with the objective of controlling industry standards
B. Companies competing in identifying product concepts
C. Competitors concentrating on market share for end products and profits
D. Firms focusing on building competencies
Essay Questions
31. Explain the competitive box. Why is there a need for strategic thinkers to “think
outside the competitive box”?
32. Discuss the differences between a generic product-market and a product-type productmarket.
33. Identify the three guidelines for defining a product-market.
34. Explain how buyers make choices in products and brands.
35. Identify Porter's five competitive forces that impact industry performance.
Chapter 03
Strategic Market Segmentation
True/False Questions
1. Market segmentation involves choosing market targets and positioning against
alternatives to build competitive advantage.
2. Strategic segmentation is concerned with consumer lifestyles and the benefits that
different types of consumers seek in choosing and purchasing consumer electronics.
3. Operational segmentation issues are concerned with delivering relevant messages to
targets, and supporting the segmentation strategy at store level.
4. The term “market niche” refers to the largest segment of buyers in a specific market.
5. Market targeting consists of selecting one or more segments whose value requirements
provide a good match with the organization’s capabilities.
6. Segmentation is employed by first choosing a segment randomly.
7. Market segmentation lays the groundwork for market targeting and positioning
strategies.
8. The use situation variables describe brand-use and consumption.
9. Demographics are often more useful to describe consumer segments after they have
been formed rather than to identify them.
10. Market concentration determines the extent to which the supplier must tailor the
product to each organizational buyer.
Multiple Choice Questions
11. The differences in buyers according to how they use products, the needs and
preferences that the products satisfy, and their consumption patterns create market _____.
A. segmentsB. futuresC. sharesD. structures
12. _____ is the process of identifying and analyzing sub-groups of buyers in a productmarket with similar response characteristics. A. FlightingB. BenchmarkingC. Market
segmentationD. Product differentiation
13. _____segmentation links to the management vision and crucial intent of corporate
action plan, and emphasizes product benefits that different types of buyers seek.
A. ManagerialB. StrategicC. OperationalD. Advertising-oriented
14. _____ segmentation is concerned with allocating resources around segment targets,
including them in marketing plans, and aligning organizational processes around them.
A. StrategicB. NetworkC. OperationalD. Managerial
15. _____ issues are concerned with the marketing program changes needed to reach
segment targets with advertising, promotions, and distribution systems.A. Strategic
segmentationB. Managerial segmentationC. Operational segmentationD. Audience
management
16. _____ consists of evaluating and selecting one or more segments whose value
requirements provide a good match with the organization's capabilities. A. Strategic
segmentationB. Managerial segmentationC. Audience managementD. Market targeting
17. _____ variables consider how the buyer utilizes the product, such as purchasing a meal
away from home for the purpose of entertainment.
A. Use situation
B. Buyers’ needs and preferences
C. Demographic
D. Purchase-behavior
18. Which of the following segmentation variables include brand awareness?
A. Use situation variables
B. Buyers’ needs and preferences variables
C. Demographic variables
D. Purchase-behavior variables
19. Which of the following segmentation variables describe brand-use and consumption?
A. Use situation variables
B. Buyers’ needs and preferences variables
C. Demographic variables
D. Purchase-behavior variables
20. The ______ variables divide a market into segments according to the buyers’ age,
income, education, and other such characteristics. A. use situationB. buyers’ needs and
preferencesC. demographic D. purchase-behavior
21. ______ include attitudes and brand awareness. A. Use situation variablesB. Buyers’
needs and preferences variablesC. Demographic variablesD. Purchase-behavior variables
22. Which of the following is a use situation variable?
A. Lifestyle of buyers
B. Brand loyalty status
C. Prior experience with product
D. Frequency of purchase
23. Which of the following is a segmentation variable measuring buyers’ needs and
preferences?
A. Quality of the product
B. Importance of purchase
C. Geographic location of buyers
D. Size of purchase
24. _____ occurs when two competing goods are seen as varying on any physical or
nonphysical characteristics, including price. A. BenchmarkingB. FlightingC. Lifestyle
segmentationD. Product differentiation
25. Which of the following types of segmentations of customer groups would be
characterized as a response difference?
A. Frequency of purchase
B. Income
C. Industrial sector
D. Age
26. _____ see global brands as quality products and accept the cultural symbols they
provide, and are less concerned with social responsibility issues.
A. Global dreamers
B. Antiglobals
C. Global citizens
D. Global agnostics
27. Which of the following segment of consumers do not base purchase decisions on a
brand’s global attributes, and judge them on the same criteria they use for local brands?
A. Global Citizens
B. Global Dreamers
C. Antiglobals
D. Global Agnostics
28. _____ groups people according to the similarity of their answers to questions such as
brand preferences or product attributes.
A. Perceptual maps
B. Cluster analysis
C. Linear discriminant analysis
D. Factor analysis
29. Which of the following forms of segmentation seeks to identify narrowly defined
segments using one or more of the segmentation variables?
A. Mass customization
B. Variety-seeking strategy
C. Microsegmentation
D. Specialized division
30. The _____ strategy follows the logic that buyers who are offered alternatives may
increase their total purchases of a brand.
A. variety-seeking
B. mass customization
C. microsegmentation
D. macrosegmentation
Essay Questions
31. Explain the goal of strategic marketing segmentation.
32. What is market segmentation?
33. Explain target marketing.
34. Explain the activities and decisions in market segmentation.
35. List the segmentation variables.
