Question 1

Segmentation variables are usually grouped into four categories:

Accepted Answer

A)  demographic, geographic, religion, and income. 
B)  geopolitical, income, behavioristic, and psychographic. 
C)  attitudes, lifestyles, behaviors, and gender. 
D)  geographic, demographic, psychographic, and attitudes. 
E)  demographic, geographic, psychographic, and behavioristic. 
A)  demographic, geographic, religion, and income. 
B)  geopolitical, income, behavioristic, and psychographic. 
C)  attitudes, lifestyles, behaviors, and gender. 
D)  geographic, demographic, psychographic, and attitudes. 
E)  demographic, geographic, psychographic, and behavioristic.

Question 2

The concentrated targeting strategy is one in which an organization directs its marketing efforts toward a single market segment through one marketing mix.

Accepted Answer

A) True 
 B)False

Question 3

A market is a group of people who, as individuals, have needs for products in a product class and have the ability, willingness, and authority to purchase such products.

Accepted Answer

A) True 
 B)False

Question 4

Individuals' ability to buy depends on the amount of their buying power.

Accepted Answer

A) True 
 B)False

Question 5

A company sales forecast is the amount of a product that a firm actually expects to sell during a specific time period.

Accepted Answer

A) True 
 B)False

Question 6

Identify the four major categories of segmentation of variables for consumer products, and give one example for each of these variables.

Accepted Answer

A marketer that uses segmentation to rea

Question 7

Sales forecasts are always long-range in nature.

Accepted Answer

A) True 
 B)False

Question 8

A market segment profile deals primarily with demographic characteristics.

Accepted Answer

A) True 
 B)False

Question 9

The producers of C & H Cane Sugar sell the product in five-pound bags, one-pound bags, and one-pound boxes. When developing its advertising strategy, C & H will most likely use a(n) approach in defining a target market.

Accepted Answer

A)  undifferentiated 
B)  differentiated 
C)  product strategy 
D)  cost-benefit 
E)  demographic 
A)  undifferentiated 
B)  differentiated 
C)  product strategy 
D)  cost-benefit 
E)  demographic

Question 10

Mia is pet sitting for a friend's dog while he is on vacation. Her friend has given Mia all sorts of information, including the veterinarian's name and phone number, pet emergency center location, and the dog's favorite bedtime snack. The first evening of the vacation, Mia realizes that her friend did not bring the dog's food over, and she has no idea what the dog eats. Her friend's cell phone is "out of range" at the moment, so Mia must go to the grocery store and shop for dog food, even though she has never bought it before now. In this case, even though Mia is not a dog owner, she is likely to be part of the market for dog food for all of the following reasons except .

Accepted Answer

A)  she has the authority to purchase the dog food. 
B)  she possesses the buying power for purchasing dog food. 
C)  she has the need or desire for dog food. 
D)  her ability to purchase the dog food is questionable. 
E)  she is willing to use her buying power. 
A)  she has the authority to purchase the dog food. 
B)  she possesses the buying power for purchasing dog food. 
C)  she has the need or desire for dog food. 
D)  her ability to purchase the dog food is questionable. 
E)  she is willing to use her buying power.

Question 11

A disadvantage of the concentrated targeting strategy is that:

Accepted Answer

A)  the firm's financial condition is tied to a single and specialized marketing mix. 
B)  large sales volumes cannot be generated. 
C)  production costs may be higher than with other strategies. 
D)  marketing personnel may become dissatisfied with the limited opportunities provided by this approach. 
E)  marketing costs are often higher than for other strategies. 
A)  the firm's financial condition is tied to a single and specialized marketing mix. 
B)  large sales volumes cannot be generated. 
C)  production costs may be higher than with other strategies. 
D)  marketing personnel may become dissatisfied with the limited opportunities provided by this approach. 
E)  marketing costs are often higher than for other strategies.

Question 12

Systems such as PRIZM and Acorn provide companies with lifestyle and demographic information about neighborhoods throughout the United States. This information is used to aid:

Accepted Answer

A)  behavioristic segmentation. 
B)  geodemographic segmentation. 
C)  market density analysis. 
D)  demographic segmentation. 
E)  geographic segmentation. 
A)  behavioristic segmentation. 
B)  geodemographic segmentation. 
C)  market density analysis. 
D)  demographic segmentation. 
E)  geographic segmentation.

Question 13

What are the major steps of the target market selection process?

Accepted Answer

Although marketers may employ several me

Question 14

A widely used system for classifying individuals on the basis of lifestyle is:

Accepted Answer

A)  VALS. 
B)  PRIZM. 
C)  CMSA. 
D)  LIFO. 
E)  Prospect Zone. 
A)  VALS. 
B)  PRIZM. 
C)  CMSA. 
D)  LIFO. 
E)  Prospect Zone.

Question 15

An undifferentiated targeting strategy does not target a single market with one marketing mix.

Accepted Answer

A) True 
 B)False

Question 16

Scenario 5.2
Use the following to answer the questions.
GE Transportation Corp produces locomotive engines for sale in countries around the world. After looking at the total market for locomotive engines, the company found that various rail lines wanted different types of engines. Major rail lines in the U.S. and South America wanted engines to haul heavy freight. Rail lines in Sweden and Germany were interested in a cleaner, greener locomotive engine. Rail lines operated by several Eastern European countries wanted locomotive engines for running short distances between cities in their own country. GE Transportation is currently manufacturing its GE 4400 for heavy freight, its Hybrid Eco-Engine, and its Dash 9, suited for shortline transport.
-Refer to Scenario 5.2. Suppose that GE Transportation decided to produce only locomotive engines for rail lines in the United States. The segmentation variable then would be:

Accepted Answer

A)  geographic location. 
B)  type of organization. 
C)  market density. 
D)  product use. 
E)  customer size. 
A)  geographic location. 
B)  type of organization. 
C)  market density. 
D)  product use. 
E)  customer size.

Question 17

Prodigy Placement is a private elementary school located in the center of Manhattan. Students at the school are considered in the top 1% of their age group in terms of IQ scores and aptitude. Parents who want to send their children to the school must get on a waiting list as soon as the child is 12 months old and must make a deposit of $5,000 to the school in order to hold the child's "application" until they reach the age of 5 years. Emma's parents put her on the waiting list at the age of 1 year and paid the deposit; however, when Emma turned five, she did not want to attend the school although she tested above the requirement. Her parents made the decision to enroll her for the upcoming school year. In this case, Emma part of the market for Prodigy Placement, and her parents part of the market:

Accepted Answer

A)  was; were; because Emma needed to attend school. 
B)  was; were; because Emma had the authority to attend the school. 
C)  was; were; because they had the authority. 
D)  was not; were; because Emma lacked the desire. 
E)  was not; were; because Emma lacked the authority. 
A)  was; were; because Emma needed to attend school. 
B)  was; were; because Emma had the authority to attend the school. 
C)  was; were; because they had the authority. 
D)  was not; were; because Emma lacked the desire. 
E)  was not; were; because Emma lacked the authority.

Question 18

One limitation of the sales force survey technique is that salespeople often believe that their sales goals are determined by their sales estimates.

Accepted Answer

A) True 
 B)False

Question 19

The primary advantage of a concentrated targeting strategy is:

Accepted Answer

A)  it meets the needs of a wide range of consumers. 
B)  it allows a firm to specialize to meet specific customer needs. 
C)  it is more flexible than any other approach. 
D)  it is the least risky targeting approach. 
E)  its customers are the most willing to repurchase the same brands. 
A)  it meets the needs of a wide range of consumers. 
B)  it allows a firm to specialize to meet specific customer needs. 
C)  it is more flexible than any other approach. 
D)  it is the least risky targeting approach. 
E)  its customers are the most willing to repurchase the same brands.

Question 20

Which of the following is not a requirement or characteristic of a market?

Accepted Answer

A)  The ability to purchase a product 
B)  A large number of people or organizations 
C)  The authority to buy a product 
D)  The willingness to use buying power 
E)  The need for a specific product in a specific product category 
A)  The ability to purchase a product 
B)  A large number of people or organizations 
C)  The authority to buy a product 
D)  The willingness to use buying power 
E)  The need for a specific product in a specific product category

Segmentation variables are usually grouped into four categories:

The concentrated targeting strategy is one in which an organization directs its marketing efforts toward a single market segment through one marketing mix.

A market is a group of people who, as individuals, have needs for products in a product class and have the ability, willingness, and authority to purchase such products.

Individuals' ability to buy depends on the amount of their buying power.

A company sales forecast is the amount of a product that a firm actually expects to sell during a specific time period.

Identify the four major categories of segmentation of variables for consumer products, and give one example for each of these variables.

Sales forecasts are always long-range in nature.

A market segment profile deals primarily with demographic characteristics.

The producers of C & H Cane Sugar sell the product in five-pound bags, one-pound bags, and one-pound boxes. When developing its advertising strategy, C & H will most likely use a(n) approach in defining a target market.

A disadvantage of the concentrated targeting strategy is that:

Systems such as PRIZM and Acorn provide companies with lifestyle and demographic information about neighborhoods throughout the United States. This information is used to aid:

What are the major steps of the target market selection process?

A widely used system for classifying individuals on the basis of lifestyle is:

An undifferentiated targeting strategy does not target a single market with one marketing mix.

One limitation of the sales force survey technique is that salespeople often believe that their sales goals are determined by their sales estimates.

The primary advantage of a concentrated targeting strategy is:

Which of the following is not a requirement or characteristic of a market?

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

Segmentation variables are usually grouped into four categories:

The concentrated targeting strategy is one in which an organization directs its marketing efforts toward a single market segment through one marketing mix.

A market is a group of people who, as individuals, have needs for products in a product class and have the ability, willingness, and authority to purchase such products.

Individuals' ability to buy depends on the amount of their buying power.

A company sales forecast is the amount of a product that a firm actually expects to sell during a specific time period.

Identify the four major categories of segmentation of variables for consumer products, and give one example for each of these variables.

Sales forecasts are always long-range in nature.

A market segment profile deals primarily with demographic characteristics.

The producers of C & H Cane Sugar sell the product in five-pound bags, one-pound bags, and one-pound boxes. When developing its advertising strategy, C & H will most likely use a(n) approach in defining a target market.

A disadvantage of the concentrated targeting strategy is that:

Systems such as PRIZM and Acorn provide companies with lifestyle and demographic information about neighborhoods throughout the United States. This information is used to aid:

What are the major steps of the target market selection process?

A widely used system for classifying individuals on the basis of lifestyle is:

An undifferentiated targeting strategy does not target a single market with one marketing mix.

One limitation of the sales force survey technique is that salespeople often believe that their sales goals are determined by their sales estimates.

The primary advantage of a concentrated targeting strategy is:

Which of the following is not a requirement or characteristic of a market?

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