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61) ________ is the process by which firms interact one-to-one with masses of customers to
design products and services tailor-made to individual needs.
A) Product diversification
B) Undifferentiated marketing
C) Mass customization
D) Differentiated marketing
E) Trigger-based marketing
62) When order requests come in, the designers of Titus Furniture often go to a client's location
to note their requirements, budget, and expected date of delivery. In this way, Titus Furnitures is
successful in tailor-making products for its customers. This is an example of ________.
A) market diversification
B) undifferentiated marketing
C) mass customization
D) differentiated marketing
E) trigger-based marketing
63) Which of the following marketing strategies is most suitable for smaller firms with limited
resources?
A) mass marketing
B) undifferentiated marketing
C) niche marketing
D) differentiated marketing
E) one-to-one marketing
64) Rex Steelworks makes steel sheets which the firm markets and sells to companies all over
the world. Which of the following marketing strategies is most suitable for Rex Steelworks?
A) one-to-one marketing
B) undifferentiated marketing
C) individual marketing
D) local marketing
E) trigger-based marketing
65) GamaPix makes point-and-shoot cameras and handycams for amateur photographers and
hobbyists. It also has a separate line of cameras dedicated to professional photographers.
Additionally, it designs separate offers for each segment. Which of the following marketing
strategies does GamaPix most likely use in this instance?
A) mass marketing
B) differentiated marketing
C) individual marketing
D) local marketing
E) direct marketing
66) Jean Malone, a market researcher, recently found that most people in Bradburg County
purchase automobiles with predominantly functional designs and prefer darker colors. Which of
the following marketing strategies should Jean most likely recommend to an automobile dealer
interested in opening a dealership in Bradburg County?
A) one-to-one marketing
B) undifferentiated marketing
C) segmented marketing
D) individual marketing
E) direct marketing
67) Shine Enterprises mass produces an all-purpose floor cleaner which is aimed at the whole
market. This firm uses a(n) ________ marketing strategy.
A) segmented
B) undifferentiated
C) individual
D) niche
E) one-to-one
68) ________ marketing is more suited for uniform products, such as grapefruit or steel.
A) Niche
B) Undifferentiated
C) One-to-one
D) Trigger-based
E) Local
69) ________ is more suited for products that vary in design.
A) Mass marketing
B) Local marketing
C) Direct marketing
D) Differentiated marketing
E) Individual marketing
70) A catalog retailer in the United States has identified African American professionals between
the ages of 35 and 45 as a group of potential customers for its products. The retailer plans to
direct its marketing efforts toward this group of consumers. Which of the following market
segmentation variables was most likely used by the catalog retailer?
A) demographic
B) psychographic
C) user status
D) loyalty status
E) usage rate
71) ________ refers to how a company will create differentiated value for targeted segments and
what positions it wants to occupy in those segments.
A) Cluster analysis
B) Closed-loop marketing
C) Product positioning
D) Value proposition
E) Value stream mapping
72) A ________ 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.
A) core competency
B) value stream
C) value proposition
D) product position
E) product specification
73) ________ shows consumer perceptions of a company's brands versus competing products on
important buying dimensions.
A) Gap analysis
B) Predictive buying
C) Cluster analysis
D) Perceptual positioning maps
E) Cost-benefit analysis
74) To the extent that a company can differentiate and position itself as providing superior
customer value, it gains ________.
A) competitive advantage
B) complementary assets
C) service life
D) core competencies
E) contingent liability
75) Through ________ differentiation, brands can be differentiated on features, performance, or
style and design.
A) services
B) channel
C) people
D) product
E) price
76) Even when competing offers look the same, buyers may perceive a difference based on
________ differentiation.
A) image
B) people
C) price
D) channel
E) services
77) Harvey's Bookstore is a popular online bookstore that has differentiated itself through
smooth-functioning delivery networks. This is an example of ________.
A) product differentiation
B) image differentiation
C) price differentiation
D) channel differentiation
E) people differentiation
78) The full mix of benefits on which a brand is differentiated and positioned is known as the
brand's ________.
A) value proposition
B) service life
C) value stream
D) supply chain
E) demand chain
79) ________ positioning involves providing the most upscale product or service and charging a
higher price to cover the higher costs.
A) More for the same
B) More for less
C) Same for less
D) Less for much less
E) More for more
80) Stores such as Walmart, Best Buy, PetSmart, David's Bridal, and DSW Shoes use ________
positioning.
A) more for the same
B) more for less
C) same for less
D) less for much less
E) more for more
81) ________ positioning involves meeting consumers' lower performance or quality
requirements at a much lower price.
A) More for less
B) Less for much less
C) Same for less
D) More for more
E) More for the same
82) Perry's Mart, a grocery store in New Orleans, Louisiana, offers less merchandise selection
and fairly low levels of service. Despite the lackluster service and limited selection of
merchandise, customers still flock to Perry's because it charges rock-bottom prices. Perry's Mart
most likely uses the ________ positioning.
A) more for the same
B) more for less
C) same for less
D) less for much less
E) more for more
83) When it first opened stores across the United States, Bateman's, an office supply chain store,
had the best product selection, the best service, and the lowest prices compared to other office
supply chain stores. As a result, Bateman's captured a significant chunk of the market in the short
run. Which of the following positioning strategies did Bateman's most likely use?
A) more for the same
B) more for less
C) same for less
D) less for much less
E) more for more
84) The winning value proposition would be to offer ________.
A) more for the same
B) more for less
C) more for more
D) same for less
E) same for more
85) Which of the following states the product's membership in a category and then shows its
point of difference from other members of the category?
A) a mission statement
B) a vision statement
C) a general need description
D) a positioning statement
E) an order-routine specification
86) "To busy multitaskers who need help remembering things, Evernote is a digital content
management application that makes it easy to capture and remember moments and ideas from
your everyday life using your computer, phone, tablet, and the Web." This is an example of a(n)
________.
A) positioning statement
B) statement of purpose
C) order-routine specification
D) vision statement
E) product specification
87) Chronos Inc. designs and markets different brands of cycling watches. Each brand has a
single unique feature: the Chronos Cosmos has a heart rate monitor, the Chronos Acumen is
designed for older cyclists who prefer a large display, and the Chronos Aegis has a GPS
function. Which of the following is evident here?
A) channel differentiation
B) service differentiation
C) product differentiation
D) people differentiation
E) image differentiation
88) Apex describes its clothing line as, "Elegance and attitude, now as one. For the daily office-
goer, who takes pride in what he or she wears everyday, Apex makes sure you get noticed." This
exemplifies a ________.
A) statement of purpose
B) vision statement
C) positioning statement
D) general need description
E) product specification
89) The Jay Group hires better employees than its competition by conducting effective searches
and multi-tiered interviews. The company also provides high quality training to its employees, an
aspect often neglected by competitors. The Jay Group is most likely to gain a strong competitive
advantage through which type of differentiation?
A) image differentiation
B) people differentiation
C) services differentiation
D) product differentiation
E) channel differentiation
90) Symbols such as the McDonald's golden arches, the colorful Google logo, the Nike swoosh,
or Apple's "bite mark" logo provide strong company or brand recognition and are indicative of
________ differentiation.
A) people
B) image
C) channel
D) services
E) product
91) Kinger Auto specializes in selling low-quality used vehicles that are priced a good deal lower
than other used cars. Which of the following value propositions is evident here?
A) more for the same
B) more for less
C) same for less
D) less for much less
E) more for more
92) Ferrari sports cars claim superior quality, performance, and style. Ferrari provides
"perfection" at a premium price to keep its brand image intact. Which type of value proposition
does Ferrari most likely position its products with?
A) more for the same
B) more for more
C) less for much less
D) the same for less
E) more for less
93) Which of the following is true with regard to the same for less value proposition?
A) Discount stores and "category killers" rarely use the same for less value proposition.
B) The same for less value proposition is mostly offered by marketers who sell higher quality
upscale products or services.
C) The same for less value proposition cannot generate profits.
D) Offering the same for less can be a powerful value proposition because everyone likes a good
deal.
E) The same for less positioning involves meeting consumers' lower performance or quality
requirements at a much lower price.
94) While Jenkins Stationeries was selling branded stationery at premium prices, Pembroke
Stationeries, a store across the street, was selling the same branded stationery at discount prices.
Which of the following value propositions best describes Pembroke's product positioning?
A) more for less
B) more for the same
C) same for less
D) less for much less
E) more for more
Refer to the scenario below to answer the following questions.
Herb Marks was making wooden pens and pencils, which had unique engravings, as a hobby
until Mel Yoder recognized Herb's talent. Mel immediately ordered 250 pens and pencils of
various styles to be displayed in his shop's showcase. Within three months, the wooden pencils
were a hit with all school goers! Herb Marks had never thought of marketing his talent, but Mel's
enthusiasm and the recent sales were enough to change his mind.
With limited resources, Herb contacted three additional specialty shops within 100 miles which
were situated near schools. He explained his manufacturing processes and engraving options to
each. All three shop owners placed a trial order. Within two months, just prior to the holiday
season, each shop owner placed an additional order. Herb was ecstatic!
"I figured business would slow down after that," Herb stated, "but in February I was contacted by
Elmore Distributors. At that point, I had to make a huge decision about how far I wanted to go
with this business."
Elmore Distributors provides products for school fundraisers in a seven-state area. Herb was
offered a two-year contract and immediate inclusion in Elmore's promotional flyer. Herb Marks
accepted the offer and, along with it, the responsibility to produce thousands of wooden pens and
pencils.
"I had to get a grip on the magnitude of this project," Herb added.
Herb decided to place his major focus on the large contract with Elmore. However, to avoid
placing his total emphasis with one customer, Herb continued nurturing his four previously
established accounts without targeting any additional customers.
"At this point, I had set up an assembly line in a rented building," Herb explained. "I had to hire
three full-time employees to work the line while I managed the customer orders and purchased
materials." Herb paused. "But I can't take the Elmore project for granted. It might not always be
there. I'll have to have a good alternate plan if that day comes."
95) In the scenario, Herb has segmented his market based on ________.
A) geography
B) benefits sought
C) occasion
D) degree of loyalty
E) demographics
