Exam 6: Target Markets, Segmentation and Evaluation

If a company segments its market on the basis of their reasons for purchasing a particular product, the primary segmentation variable in use is

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

The size of the market potential places limits on the size of the company sales potential.

If Morton Salt saw all table salt customers as pretty much alike and thus offered only one marketing mix, it would be using the ____ strategy.

Frito-Lay Snack Foods is currently conducting market segmentation studies. For several segments, they have completed competitive assessments and cost estimates. The next major step they must take is to

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

Why would a firm survey its sales force to forecast company sales? Why would a firm choose an expert forecasting survey instead?

Scenario 6.2 Use the following to answer the questions. GE Transportation 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 short line transport. Refer to Scenario 6.2. Currently, GE uses several sales forecasting methods. One method is to sell the different locomotive engines to buyers in different countries, and then measure the purchasing response in each. In this case, GE Transportation is using the _____ method to forecast future sales.

Tiffany's markets its exclusive jewelry and gifts to high-income individuals interested in high-quality products and a well-known brand name. It uses the same marketing mix to reach this market. Tiffany's uses a(n) ____ strategy.

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

The sum of firms' marketing efforts equals industry marketing efforts.

Market segment profiles are used to describe _____________ members of a market segment, and to explain ______________members in separate market segments.

One problem with using psychographic variables for segmentation purposes is that they are difficult to measure accurately.

Lily is an award-winning fiction writer. She works out of her apartment. She recently purchased a new desk in which to store her manuscripts and for use when typing up stories for publication. Lily is part of the business market for the desk manufacturer.

Lifestyle analysis focuses on people's activities, interests, and opinions.

Scenario 6.2 Use the following to answer the questions. GE Transportation 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 short line transport. Refer to Scenario 6.2. Suppose that GE Transportation decided to produce only locomotive engines for rail lines in the United States. The segmentation variable then would be

Subaru is producing a new seven-passenger van with all-wheel drive. Which of the following would be the best variables for segmenting the market for this new model?

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

General Electric 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

If Baskin-Robbins calculates that it could sell up to 25 percent of all ice cream cones sold in the United States, this percentage would represent the ice cream marketer's