Question 1

A marketer may segment a market in terms of the benefits that customers expect to receive from a particular product.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following sales forecasting techniques would generally be most suitable for estimating sales of a new product?

Accepted Answer

A)  Executive judgment 
B)  Customer surveys 
C)  Time series analysis 
D)  Market tests 
E)  Regression methods 
A)  Executive judgment 
B)  Customer surveys 
C)  Time series analysis 
D)  Market tests 
E)  Regression methods

Question 3

The undifferentiated strategy can be effective for an organization that has a homogeneous market and can develop and maintain a single marketing mix.

Accepted Answer

A) True 
 B)False

Question 4

The two general approaches to measuring company sales potential are the breakdown and the buildup approach.

Accepted Answer

A) True 
 B)False

Question 5

Procter & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter & Gamble is using a(n) targeting strategy for laundry detergents.

Accepted Answer

A)  multiuse 
B)  differentiated 
C)  stratified 
D)  undifferentiated 
E)  concentrated 
A)  multiuse 
B)  differentiated 
C)  stratified 
D)  undifferentiated 
E)  concentrated

Question 6

Which of the following statements about the undifferentiated targeting strategy is false?

Accepted Answer

A)  The undifferentiated targeting strategy should be used when the needs of individual customers are similar. 
B)  The undifferentiated targeting strategy uses one promotional program aimed at everyone in the target market. 
C)  The undifferentiated targeting strategy is good for use with staple items, such as sugar and salt. 
D)  The undifferentiated targeting strategy uses multiple distribution systems to best reach individuals in the target market. 
E)  The opposite of the undifferentiated targeting strategy is the differentiated targeting strategy. 
A)  The undifferentiated targeting strategy should be used when the needs of individual customers are similar. 
B)  The undifferentiated targeting strategy uses one promotional program aimed at everyone in the target market. 
C)  The undifferentiated targeting strategy is good for use with staple items, such as sugar and salt. 
D)  The undifferentiated targeting strategy uses multiple distribution systems to best reach individuals in the target market. 
E)  The opposite of the undifferentiated targeting strategy is the differentiated targeting strategy.

Question 7

When a company has its sales forecasts prepared by management consultants, economists, or college professors, it is using a(n) .

Accepted Answer

A)  expert forecasting survey 
B)  Delphi technique 
C)  random factor analysis 
D)  external judgment survey 
E)  market test 
A)  expert forecasting survey 
B)  Delphi technique 
C)  random factor analysis 
D)  external judgment survey 
E)  market test

Question 8

When selecting specific target markets, a firm should:

Accepted Answer

A)  revert to an undifferentiated approach if the market is deemed heterogeneous. 
B)  choose the segments most in line with the firm's objectives and long-term growth. 
C)  choose all segments that are determined to be profitable for the organization. 
D)  choose the minimum number of segments necessary to achieve company sales potential. 
E)  pick the segments with the best sales forecasts for the upcoming period of time. 
A)  revert to an undifferentiated approach if the market is deemed heterogeneous. 
B)  choose the segments most in line with the firm's objectives and long-term growth. 
C)  choose all segments that are determined to be profitable for the organization. 
D)  choose the minimum number of segments necessary to achieve company sales potential. 
E)  pick the segments with the best sales forecasts for the upcoming period of time.

Question 9

Which of the following products is least likely to be segmented according to stages in the family life cycle?

Accepted Answer

A)  Single-family homes 
B)  Cars and SUVs 
C)  European vacations 
D)  Soft drinks 
E)  General Electric appliances 
A)  Single-family homes 
B)  Cars and SUVs 
C)  European vacations 
D)  Soft drinks 
E)  General Electric appliances

Question 10

Individuals, groups, or organizations that share one or more similar characteristics that cause them to have relatively similar product needs are called:

Accepted Answer

A)  market segments. 
B)  heterogeneous markets. 
C)  concentrated markets. 
D)  demographic segments. 
E)  strategic segments. 
A)  market segments. 
B)  heterogeneous markets. 
C)  concentrated markets. 
D)  demographic segments. 
E)  strategic segments.

Question 11

During the evaluation of relevant market segments, competitive assessment is used primarily to determine the possibility of additional competitors entering particular segments.

Accepted Answer

A) True 
 B)False

Question 12

When the needs of individual consumers in a target market for a specific product are similar and the organization can satisfy most customers with a single marketing mix, the best approach to use may be the strategy.

Accepted Answer

A)  undifferentiated 
B)  differentiated 
C)  segmented 
D)  concentrated 
E)  heterogeneous 
A)  undifferentiated 
B)  differentiated 
C)  segmented 
D)  concentrated 
E)  heterogeneous

Question 13

Distinguish between the breakdown and buildup approaches to assess company sales potential.

Accepted Answer

The two general approaches that measure

Question 14

Walmart sells numerous products, including packaged food, produce, automotive maintenance services, eyeglasses, clothing, and toys. Walmart advertises itself as a store where "we save people's money so they can live better," focusing on its low prices as the customer's most important need. Walmart's advertising appears to use a(n) strategy to a market that is .

Accepted Answer

A)  undifferentiated; homogeneous 
B)  undifferentiated; heterogeneous 
C)  differentiated; homogeneous 
D)  homogeneous; differentiated 
E)  heterogeneous; undifferentiated 
A)  undifferentiated; homogeneous 
B)  undifferentiated; heterogeneous 
C)  differentiated; homogeneous 
D)  homogeneous; differentiated 
E)  heterogeneous; undifferentiated

Question 15

Intuition and expediency are primary characteristics of the sales forecasting method of .

Accepted Answer

A)  surveys 
B)  executive judgment 
C)  cycle analysis 
D)  market tests 
E)  industry indicators 
A)  surveys 
B)  executive judgment 
C)  cycle analysis 
D)  market tests 
E)  industry indicators

Question 16

Age, rate of product use, location, and gender are all examples of common:

Accepted Answer

A)  demographic variables. 
B)  geographic characteristics. 
C)  targeting strategies. 
D)  psychographic variables. 
E)  segmentation variables. 
A)  demographic variables. 
B)  geographic characteristics. 
C)  targeting strategies. 
D)  psychographic variables. 
E)  segmentation variables.

Question 17

Company sales potential is the maximum percentage of market potential that an individual firm within an industry can expect to obtain for a specific product.

Accepted Answer

A) True 
 B)False

Question 18

Why is it important for marketers to assess competitors before entering a market segment?

Accepted Answer

Besides obtaining sales estimates, it is

Question 19

At times, after doing segmentation analysis, marketers in an organization decide not to enter any segments.

Accepted Answer

A) True 
 B)False

Question 20

General Electric Corp calculates that the total number of light bulbs sold to consumers in the next year by all light bulb producers is 1 billion, given anticipated marketing efforts by the firms involved. This figure represents the industry's:

Accepted Answer

A)  sales potential. 
B)  market potential. 
C)  target growth rate. 
D)  sales forecast. 
E)  sales objective. 
A)  sales potential. 
B)  market potential. 
C)  target growth rate. 
D)  sales forecast. 
E)  sales objective.

A marketer may segment a market in terms of the benefits that customers expect to receive from a particular product.

Which of the following sales forecasting techniques would generally be most suitable for estimating sales of a new product?

The undifferentiated strategy can be effective for an organization that has a homogeneous market and can develop and maintain a single marketing mix.

The two general approaches to measuring company sales potential are the breakdown and the buildup approach.

Procter & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter & Gamble is using a(n) targeting strategy for laundry detergents.

Which of the following statements about the undifferentiated targeting strategy is false?

When a company has its sales forecasts prepared by management consultants, economists, or college professors, it is using a(n) .

When selecting specific target markets, a firm should:

Which of the following products is least likely to be segmented according to stages in the family life cycle?

Individuals, groups, or organizations that share one or more similar characteristics that cause them to have relatively similar product needs are called:

During the evaluation of relevant market segments, competitive assessment is used primarily to determine the possibility of additional competitors entering particular segments.

When the needs of individual consumers in a target market for a specific product are similar and the organization can satisfy most customers with a single marketing mix, the best approach to use may be the strategy.

Distinguish between the breakdown and buildup approaches to assess company sales potential.

Intuition and expediency are primary characteristics of the sales forecasting method of .

Age, rate of product use, location, and gender are all examples of common:

Company sales potential is the maximum percentage of market potential that an individual firm within an industry can expect to obtain for a specific product.

Why is it important for marketers to assess competitors before entering a market segment?

At times, after doing segmentation analysis, marketers in an organization decide not to enter any segments.

General Electric Corp calculates that the total number of light bulbs sold to consumers in the next year by all light bulb producers is 1 billion, given anticipated marketing efforts by the firms involved. This figure represents the industry's:

Customer-Driven Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment, Social Responsibility, and Ethics

Marketing Research and Information Systems

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product, Branding, and Packaging Concepts

Developing and Managing Goods and Services

Pricing Concepts and Management

Marketing Channels and Supply-Chain Management

Retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Filters

Exam 5: Target Markets: Segmentation and Evaluation

A marketer may segment a market in terms of the benefits that customers expect to receive from a particular product.

Which of the following sales forecasting techniques would generally be most suitable for estimating sales of a new product?

The undifferentiated strategy can be effective for an organization that has a homogeneous market and can develop and maintain a single marketing mix.

The two general approaches to measuring company sales potential are the breakdown and the buildup approach.

Procter & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter & Gamble is using a(n) targeting strategy for laundry detergents.

Which of the following statements about the undifferentiated targeting strategy is false?

When a company has its sales forecasts prepared by management consultants, economists, or college professors, it is using a(n) .

When selecting specific target markets, a firm should:

Which of the following products is least likely to be segmented according to stages in the family life cycle?

Individuals, groups, or organizations that share one or more similar characteristics that cause them to have relatively similar product needs are called:

During the evaluation of relevant market segments, competitive assessment is used primarily to determine the possibility of additional competitors entering particular segments.

When the needs of individual consumers in a target market for a specific product are similar and the organization can satisfy most customers with a single marketing mix, the best approach to use may be the strategy.

Distinguish between the breakdown and buildup approaches to assess company sales potential.

Intuition and expediency are primary characteristics of the sales forecasting method of .

Age, rate of product use, location, and gender are all examples of common:

Company sales potential is the maximum percentage of market potential that an individual firm within an industry can expect to obtain for a specific product.

Why is it important for marketers to assess competitors before entering a market segment?

At times, after doing segmentation analysis, marketers in an organization decide not to enter any segments.

General Electric Corp calculates that the total number of light bulbs sold to consumers in the next year by all light bulb producers is 1 billion, given anticipated marketing efforts by the firms involved. This figure represents the industry's:

Customer-Driven Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment, Social Responsibility, and Ethics

Marketing Research and Information Systems

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product, Branding, and Packaging Concepts

Developing and Managing Goods and Services

Pricing Concepts and Management

Marketing Channels and Supply-Chain Management

Retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Filters