Exam 6: Target Markets, Segmentation and Evaluation

Population density and city size are ____ variables used for market segmentation.

Several conditions must exist for market segmentation to be successful. These conditions include all of the following except

Through marketing newsprint to newspaper publishers and glass manufacturers that use it in packing, International Paper segments its market based on

Brian works for a manufacturer of sports equipment and is currently developing a company sales forecast for golf clubs. While reviewing data, he discovered a pattern in sales volume over the past ten years that peaked during two months of each year. Brian likely used which sales forecasting technique?

After an organization has determined which of the many segmentation variables it will use, the next step in the target market selection process is

The ways in which customers use a particular product may be a basis for segmenting the market.

Kelly's Kids is a home-based business that sells high-quality children's clothing at premium prices using in-home parties. These in-home parties typically cater to families with small children and middle- to upper-middle-class income. Kelly's Kids is using ____ variables to segment its market.

Which of the following is not one of the major categories of consumer market segmentation variables?

Demographic variables such as income and occupation, as well as how people spend their time and the importance of things in their surroundings, are all factors considered in ____ segmentation.

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.

In your regular goods and services consumption activities, you purchase products for resale and for use in your daily operations. You also purchase products that you will use to produce other products. Based on this information, which of the following best describes the type of market you are part of?

The primary advantage of a concentrated targeting strategy is

Which of the following forecasting methods is least dependent on historical sales data?

Compare and contrast the concentrated and differentiated targeting strategies of market segmentation.

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 became 5 years old, she did not want to attend the school even though 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 because ____.

Eighteen-year-old students do not form a market for alcoholic beverages because they

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

The most important reason that a firm might use a sales force forecasting survey to determine its sales forecast is

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

Seventh Generation is a company producing products that limit the amount of negative impact on the environment. Their product line includes dishwashing liquid, toilet paper, paper towels, baby wipes, and laundry detergent, to name a few. Seventh Generation is now interested in producing a new line of clothing, mostly t-shirts, shorts, and long pants for both men and women. Their research indicates that they should use psychographic segmentation in their marketing strategy. Which group of segmentation variables will Seventh Generation be using?