Vu All Subjects Assignment Quiz GDB Handouts Available here
Aslam U Alaikum!
Dear Students
In this post we are providing you MGT301 Quiz-3 Solution Fall 2022(theme 7).
Open date feb 1, 2022
Close date feb 3, 2022
1.
There
are four pillars of organization strategies to address above questions
·
Segmentation
·
Targeting
·
Differentiation
·
Positioning
True
2.
Customer
will we serve segmentation and targeting
True
3.
Divide
the total market into smaller segments is segmentation
True
4.
Select
the segment or segments to enter is targeting
True
5.
Differentiate
the market offering to create superior customer value is differentiation
True
6.
Position
the market offering in the minds of target customers is positioning
True
7.
Differentiation
and positioning is decide on a value proposition
True
8.
Market
segmentation is the process to divide large heterogeneous markets into small
markets that can be reached more efficiently and effectively with products and
services that match their unique needs
True
9.
Geographic
segmentation, demographic segmentation, psychographic segmentation and
behavioral segmentation are types of segmentation
True
10. Four types of segmentation
True
11. Geographic Segmentation: Such In
the same way a company segments a market on the basis of rural and urban areas.
True
12. Geographic segmentation divides the
market into different many regions, nations and provinces.
True
13. Demographic Segmentation:
Demographic segmentation is a process of dividing the market into groups based
on variables such as age, gender, family size, family life cycle, income,
occupation, education, religion, race, nationality.
True
14. Psychographic Segmentation:
Psychographic segmentation is a process of dividing a market into different
segments based on social class, lifestyle, or personality characteristics
True
15. Behavioral segmentation is a
process of dividing the market into groups based on their knowledge, attitudes,
uses, or responses to a product, occasions, benefits sought user status, usage
rate and loyalty status
True
16. Geographic, Demographic,
Psychographic, and behavioral segmentation are consumer market
True
17. Segmenting business markets is consumer and
business marketers use many of the same variables to segment their markets
True
18. If company wants to segment
business market them company should consider additional variables such as;
customer operating characteristics, purchasing approaches, situational factors
and personal characteristics
True
19. If a company wants to segment
international market then company should consider geographical location,
economic factors, political factors and cultural factors
True
20. Target market is a set of buyers
who share common needs or characteristics that the company decides to serve.
True
21. Undifferentiated/Mass Marketing: target
the whole market with one offer and focuses on common needs rather than what’s
different
True
22. Differentiated/Segmented Marketing:
Targeting several different market segments and designing separate offer for
each and goal is to achieve higher sales and stronger position
True
23. Measurable, Accessible, Substantial,
Differentiable and Actionable are Effective Segmentation
True
24. Market targeting is the process evaluating
market segments and selecting one or more to serve
True
25. Target Market is a set of buyers who share
common needs or characteristics that the company decides to serve.
True
26. Segment size and growth, Segment structural
attractiveness and Organizational objectives and resources are Targeting
Marketing
True
27. In evaluating different market
segments, a firm must look at three factors: Segment size and growth, Segment
structural attractiveness and Organizational objectives and resources
True….confirm
28. The widespread use of mass
marketing has masked the fact that for centuries consumers were served as
individuals where business practiced individual marketing.
True….confirm
29. Shopping for the rich and famous is
a buying service that helps wealthy clients find the best buys in exchange
clothing, high-end cars, travel and financial services. This firm would use
income segmentation
True…confirm
30. Concentrated/Niche Marketing: In
niche marketing a firm focuses on one specialized part of segment
True
31. Micro Marketing: Tailoring products
and marketing programs to suit the needs and wants f specific individuals and local
customers
True
32. Micro Marketing is also called
tailor made marketing
True
If you appreciate our work, please share our website vuonlinehelp.blogspot.com with your friends.
33. A tailor stitching clothes
according to customer need same like that companies try to serve customers on
individual level is an example of micro marketing
True
34. Local Marketing: Design different
offering for different localities such as brand has different offering/
assortment in posh area and same branch has different offering/assortment in
low income level area
True
35. Tailoring brands and marketing to the needs
and wants of local customer segments-cities, neighborhoods and even specific
stores is local Marketing
True
36. Undifferentiated/Mass marketing,
Differentiated/segmented Marketing, Concentrated/Niche Marketing and Micro
Marketing are target Marketing strategies
True
37. Organization wishes to have in the
mind of customers distinct and better then the competitors is known as product
position
True
38. Product position is the way the
product is defined by consumers on important attributes the place the product
occupies in consumers minds relative to competing products
True…confrim
39. Consumers position products with or
without the help of marketers
True….confirm
40. This type of segmentation uses
different marketing approaches for different time periods of peoples’ lives and
different family situations. This segmentation method is called demographic
False….confrim
41. When kia offers a new model of car
with the same features as a comparable Toyota or ford and provides longer
warranty, it is following a more-for-less strategy.
False…confrim
42. The process by which such position
is attained is known as positioning
True
43. Positioning depends upon point of
difference and that point of difference is called competitive advantage
True
44. Competitive advantage is an advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices
True
45. Product
differentiation(Functionally different from others), Service
differentiation(after sales services are different from others), Channel
differentiation(Online sale/purchase of products),People
differentiation(Staff/employee’s style of dealing with customers is different
from others), Image differentiation.
These are 5 options of differentiation
True
46. Value proposition is the full mix
of benefits upon which a brand is positioned.
True
47. Style is a larger concept than
design. Design describes the appearance of a product.
False
48. Design is a larger concept than
style. Style simply describes the appearance of a product.
True
49. The simplest pricing method is
break-even pricing-adding is standard markup to the cost of the product.
False
50. The simplest pricing method is
cost-plus pricing—adding a standard markup to the cost of the product.
True
51. Manufacturers may offer an
allowance in return for the retailer’s agreement to feature the manufacturer’s
products in some way.
True
52. Unsought products are products and
services that the customer usually buys frequently, immediately and with a
minimum of comparison and buying effort.
False
53. Many marketers believe that
behavior variables are the best starting point for building market segments.
True…confirm
54. Because there is such variation
among the economics of countries around the world, it is not practical to
segment international markets on the basis of economic factors.
False….confirm
55. Each firm should be able to find a
single way to segment each market
False….confirm
56. Convenience products are consumer products
and services that the customer usually buys frequently, immediately, and with a
minimum of comparison and buying effort.
True
57. If demand changes greatly, we say
the demand is inelastic.
True
58. Slice of life, lifestyle and
personality symbol are all parts of public relations.
False
59. In industrial markets, salespeople
outrank top management in determining the sales price of products.
False
60. An aspect of managing service
differentiation is in the company’s service delivery.
True
61. Karachi gifts divides its markets into units
of nations, regions, and cities, Bombay uses geographic segmentation.
True….confirm
62. Gender segmentation has long been
used in clothing, cosmetics, toiletries and magazines
True….confirm
63. Research and planning for loyalty
status as a segmentation approach is generally not useful or practical for most
firms
False…confirm
64. An example for service
variability is that within a given Marriott hotel, one registration-desk
employee may be cheerful and efficient, whereas another may be unpleasant and
slow.
True
65. Developing a stronger
position within several segments creates more total sales than undifferentiated
marketing across all segments.
True…confirm
66. When a company introduces a new brand name in
the same product category, it is called line extension.
False
67. Lahore Florists segments
markets into groups of nonusers, ex-users, potential users, first-time users,
and regular users of its flowers and services. This firm uses usage rate as the
segmentation approach.
True…..confirm
68. Today, most companies have
moved away from mass marketing and are being choosier about the customers with
whom they wish to build relationships.
True….confirm
69. Your assignment at work is
to divide buyers into different groups based on social class, lifestyle and
personality characteristics. After a planning session with the marketing and
sales staff, you issue a memory upper management recommending psychographic
segmentation. You are right on targeting.
True…confrim
70. Shopping products are less
frequently purchased consumer products and services that customers compare
carefully on suitability, quality, price and style.
True
71. Service inseparability
means that the quality of services depends on who provides them, as well as when,
where, and how they are provided.
False
72. At a recent marketing seminar, the featured
speaker stated that a target market consist of a set of buyers who share common
needs or characteristics that the company decides to serve. You believe this is
a correct defination.
False…confirm
73. An aspect of managing service differentiation
is in the company's service delivery.
True
74. At this point, your company wants to move
away from mass marketing and engage in target marketing. The three steps to
take, in order, are market segmentation, marketing positioning, and target
marketing.
True …confrim
75. Packaging does not include
the material necessary to ship a product.
False
76. Competitor’s prices and
offers are external factors that companies have to deal with.
True
77. The demand curve shows the
number of units the market will buy in a given time period at different prices
that might be changed. In normal cases, the higher the price, the higher the
demand.
False
78. The demand curve shows the
number of units the market will buy in a given time period at different prices
that might be changed. In normal cases, demand and price are inversely related
that is, the higher the price, the lower the demand.
True
79. A break-even chart shows
the total cost and total revenue expected at various sales volume levels.
True
If you appreciate our work, please share our website vuonlinehelp.blogspot.com with your friends.
80. Sales promotion consists of
short-term incentives to encourage purchases or sales of a product or service.
True
81. Overhead cost is another
term for variable cost.
False
82. Overhead cost is another
term for fixed cost.
True
83. When a manufacturer seeks a
market for by-Products and accepts a price that covers more than the cost of
storing and delivering them, it is able to reduce the main product’s price to
make it more competitive.
True
84. Today,
most companies have moved away from mass marketing and are being choosier about
the customers with whom they wish to build relationships.
True…confirm
85. The most expensive consumer
promotion tool is sampling.
True
86. Cost-based pricing relies
on consumer perception of value to drive pricing
True
87. A company’s total marketing
communications mix is also called its promotion mix.
True
88. In industrial markets
products managers have an influence on the company’s price setting decisions.
True
89. The media planner has to
know the reach, frequency, and impact of each ad.
True
90. Informative ads are used
primarily in the growth stage of the product life cycle
False
91. Unsought products are
products and services that the customer usually buys frequently, immediately
and with a minimum of comparison and buying effort.
False
92. Unsought products are
consumer products that the consumer either does not know about or knows about
but does not normally think of buying.
True
93. An aspect of managing
service differentiation is in the company’s service delivery.
True
If you appreciate our work, please share our website vuonlinehelp.blogspot.com with your friends.
94. In a product business,
products are fairly standardized and can sit on shelves waiting for customers.
In a service business, the customer and front-line service employee interact to
create the service.
True
95. Advertisers look for media
that showcase the product effectively. Fashions are best advertised on
television and automobile performance is best in color magazines
True
96. When a major moving van
company sells accessory products that must be used in moving a household’s
furniture. It is practicing captive-product pricing.
True
97. Demand and consumer value
perception set the floor for prices.
True
98. Internal marketers face special challenges.
They must figure out what products to introduce to other countries
False
99. The three characteristics
for advertising appeals are meaningful, believable, and distinctive
True
100. One important quality for a brand name is that it should
translate easily into foreign language
True
101. The service-profit chain means the set of all product
lines and items that a particular seller offers for sale.
False
102.
Customer
retention is perhaps the best measure of quality-a service firm’s ability to
hang on to its customers depends on how consistently it delivers value to them
True
103.
Pricing
offers plays an important role in helping to accomplish a company’s multi-level
objectives.
True
104.
Value-based
pricing is the reverse of cost-based pricing.
True
105.
Percentage-of-sales
method wrongly views sales as the cause of promotion rather than the result.
True
106.
Co-branding
is a form of product that consists of activities, benefits, or satisfactions
offered for sale that are essentially intangible and do not result in the
ownership of anything. Examples are banking, hotel, airline, retail tax
preparation and home repair
False
107.
Service
is a form of product that consists of activities, benefits, or satisfactions
offered for sale that are essentially intangible and do not result in the
ownership of anything. Examples are banking, hotel, airline, retail tax
preparation and home repair.
True
108.
Environmental
elements are categorized an external factors that affect pricing decisions
True
109.
Programs
that include public health campaigns to reduce smoking, alcoholism, drug abuse
and overeating and examples of the social idea known as social marketing
True
110.
Companies
that set a low initial price in order to get their “Foot in the door” quickly
and deeply. Attract a large number of buyers quickly and win a large market
share practice market-skimming pricing
False
111.
Candy
store that set a low initial price in order to get their “Foot in the door”
quickly and deeply. Attract a large number of buyers quickly and win a large
market share practice market-skimming pricing.
True
112.
A
company’s product mix has four important dimensions, width, length, depth and
consistency.
True
113.
Products
costs set a floor to the price consumer perceptions of the product’s value set
the ceiling
True
114.
If the pull strategy is effective, consumers
will then demand the product from channel members, who will in turn demand it
from producers.
True
115.
Niche
marketing offers smaller companies the opportunity to compete by focusing their
limited resources on serving niches that may be unimportant to or overlooked by
larger companies.
True….confirm
116.
Product
position is the way the product is defined by the retailers who sell it to
markets, it is how it is defined on important attributes the place the product
occupies in the retailers minds relative to competing products
False…confirm
117.
Behavioral segmentation requires finding the
major advantages or features people look for in the product class, the kinds of
people who look for each advantage or feature, and the major brands that deliver
each advantage or feature.
False…confirm
If you appreciate our work, please share our website vuonlinehelp.blogspot.com with your friends.
We are here to provide Latest Virtual University Assignment Solutions, GDB Solutions, Quiz Solution, Midterm Past Papers, and Final term Past Papers in this website.
Thanks everone