Business 530 - Marketing Management » Winter 2023 » Chapter 04 Targeting
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Question #1
In the marketing framework, which of the following precedes targeting?
A.
Positioning
B.
Branding
C.
Promotion
D.
Segmentation
Question #2
In the marketing framework, which of the following actions is implemented by a firm during the targeting process?
A.
Assessing its product's alignment with a specific market segment
B.
Creating a product feature that differentiates the core product from its competitors
C.
Educating the general public about its product's benefits
D.
Giving out additional product information to a market segment
Question #3
Potential profitability is a function of the current market size, its anticipated growth, current and anticipated levels of competition, and customer behavior and expectations.
A.
True
B.
False
Question #4
In the SWOT analysis of a firm, which of the following is an example of a firm's strengths?
A.
A chance to diversify into an exclusive niche market segment.
B.
An opening for the firm to add more products into its product line.
C.
A versatile and qualified R&D team in the firm.
D.
Potential of a firm in a diversified product line.
Question #5
In the SWOT analysis of a firm, which of the following is an example of a firm's weakness?
A.
Two main competitors joining hands to evaluate an expansion opportunity
B.
Increase in the variable cost of the firm's primary raw material
C.
Entry of a well-known manufacturer into the firm's primary market segment
D.
High employee turnover over rate in the firm's marketing department
Question #6
In the SWOT analysis of a firm, which of the following is an example of a threat?
A.
Failure to renew a contract with its primary supplier
B.
Lack of ability to retain entry-level marketers
C.
Lack of effort to cash in on a growing product segment
D.
Restrictions imposed by the government on the use of kids in ads
Question #7
In the SWOT analysis of a firm, which of the following is an example of an opportunity?
A.
Explore the trend in an emerging economy
B.
Ability to attract the most efficient type of marketers
C.
Flexibility to adapt to constant internal change
D.
Method used to control the flow of raw materials
Question #8
In the context of SWOT analysis, which of the following reflects the difference between strengths and opportunities?
A.
Strengths depend on the entire functioning of the firm, while opportunities depend on the functioning of a specific department in the firm.
B.
Strengths depend on the B2B products of a firm, while opportunities depend on the B2C products of a firm.
C.
Strengths relate to the internal factors of a firm, while opportunities relate to the external factors of a firm.
D.
Strengths relate to the tangible products of a firm, while opportunities relate to the intangible services of a firm.
Question #9
In the SWOT analysis of an organization, strengths and weaknesses are said to be considerations external to the organization.
A.
True
B.
False
Question #10
In the SWOT analysis of an organization, opportunities and threats characterize the organization itself.
A.
False
B.
True
Question #11
In the SWOT analysis of a firm, which of the following explains the difference between weaknesses and threats?
A.
Weaknesses are dependent on the micro-environment characteristics of a firm, while threats are dependent on the macro-environment characteristics of a firm.
B.
Weaknesses relate to a firm's inability to satisfy customers' physiological needs, while threats relate to a firm's inability to satisfy customer's social needs.
C.
Weaknesses are dependent on the subliminal characteristics of a firm, while threats are dependent on the perceptual fluency characteristics of a firm.
D.
Weaknesses relate to the segmenting process of a firm, while threats relate to the positioning process of a firm.
Question #12
Typically, a firm creates a perceptual map by:
A.
assessing its corporate strengths relative to its competitors.
B.
evaluating its corporate strengths against absolute measures.
C.
analyzing its performances with respect to a successful historical data set.
D.
assessing its performances against a set of performance standards.
Question #13
Perceptual maps show customers' perceptions of a firm's strengths with respect to its competitors.
A.
False
B.
True
Question #14
Typically, products' benefits and attributes are whittled down to price and quality.
A.
True
B.
False
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