151. (p. 198)

One advantage of a market-product grid is that it can be used to

A. make cost-cutting decisions under conditions of uncertainty.

B. screen many new product ideas in order to select the one with best long-run market potential.

C. determine which target market segments to select and which product groupings to offer.

D. select representative samples of consumers for marketing research studies.

E. relate the product life cycle to consumer demand.

A market-product grid is a framework to relate the segments of a market to the products offered. It is helpful in determining which target market segments to select and which product groupings to offer.

AACSB: Analytical

Blooms: Comprehension

Difficulty Level: Medium

Kerin - Chapter 09 #151

Learning Objective: 09-04 Develop a marketproduct grid to identify a target market and recommend resulting actions.

Topic: Market-Product Grid 152. (p. 198)

Determining the size of specific markets using a market-product grid is helpful in determining which target market segments to select and

A. how to implement the 80-20 rule.

B. which products to be sold into groups.

C. how to implement a harvesting strategy.

D. which product groupings to offer.

E. which products to reposition.

Even "guesstimates" of the size of specific markets using a market-product grid are helpful in determining which target market segments to select and which product groupings to offer.