Question 1

Marketers select and evaluate relevant market segments by understanding the market needs.

Accepted Answer

A) True 
 B)False

Question 2

The final step in the target market selection process is:

Accepted Answer

A) implementing the appropriate marketing mix for the target market. 
B) evaluating relative market segments. 
C) eliminating market segments that are cost prohibitive. 
D) selecting specific target markets. 
E) revising the final segmentation variables based on target selection. 
A) implementing the appropriate marketing mix for the target market. 
B) evaluating relative market segments. 
C) eliminating market segments that are cost prohibitive. 
D) selecting specific target markets. 
E) revising the final segmentation variables based on target selection.

Question 3

Which of the following is an example of a behaviouristic segmentation variable?

Accepted Answer

A) Family size 
B) Climate 
C) Age 
D) Usage rate 
E) Personality characteristics 
A) Family size 
B) Climate 
C) Age 
D) Usage rate 
E) Personality characteristics

Question 4

Use the following to answer questions 
GE Transportation produces train engines for sale in countries around the world.After looking at the total market for train engines, the company found that different rail lines wanted different engines.Major rail lines in the USA and South America wanted engines to haul heavy freight.Rail lines in Sweden and Germany were interested in a cleaner, greener train engine.Rail lines operated by several Eastern European countries wanted train 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 distances.
-If a GE Transportation researcher analyses monthly sales data for a four-year time frame and looks for periodic fluctuations, the researcher is doing a __________analysis.

Accepted Answer

A) trend 
B) seasonal 
C) cycle 
D) random factor 
E) regression 
A) trend 
B) seasonal 
C) cycle 
D) random factor 
E) regression

Question 5

When a marketer is engaged in the target market selection process and has assessed relevant market segments by considering such factors as sales estimates, competition and estimated costs, the marketer is ready for the next step, which is to:

Accepted Answer

A) identify the appropriate targeting strategy. 
B) determine which segmentation variables to use. 
C) develop market segment profiles. 
D) evaluate relevant market segments. 
E) select specific target markets. 
A) identify the appropriate targeting strategy. 
B) determine which segmentation variables to use. 
C) develop market segment profiles. 
D) evaluate relevant market segments. 
E) select specific target markets.

Question 6

The five-step process usually used for target market selection includes identifying the appropriate targeting strategy, determining which segmentation variables to use, developing market segment profiles, evaluating relevant market segments and deciding which targeting strategy to use.

Accepted Answer

A) True 
 B)False

Question 7

Slim Secrets segments its snack bars based on those who have morning cravings, those who crave something extra in the afternoon slump time and those looking for a healthier snack at any time of the day.This is an example of market segmentation based on variables of:

Accepted Answer

A) demographics. 
B) lifestyles. 
C) psychographics. 
D) behaviour. 
E) personality characteristics. 
A) demographics. 
B) lifestyles. 
C) psychographics. 
D) behaviour. 
E) personality characteristics.

Question 8

Which variable should the marketers at Lil' Angels use in relation to sales, and what type of forecast method should they use to relate the variables to sales trends?

Accepted Answer

A) Behaviouristic; time series analysis 
B) Psychographic; time series analysis 
C) Demographic; regression analysis 
D) Income; regression analysis 
E) Family life cycle; market tests 
A) Behaviouristic; time series analysis 
B) Psychographic; time series analysis 
C) Demographic; regression analysis 
D) Income; regression analysis 
E) Family life cycle; market tests

Question 9

The primary advantage of a concentrated strategy is that:

Accepted Answer

A) it meets the needs of a wide range of consumers. 
B) it allows a firm to specialise 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 specialise 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 10

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

Accepted Answer

A) True 
 B)False

Question 11

John has just joined a company as the merchandise buyer for giftware.He has the authority to place orders of up to $100 000 for his new company.He wants to place an order with a new supplier for $250 000.In this case, John __________ part of the market for the giftware because __________.

Accepted Answer

A) is; he has very little buying power 
B) is; has the need for the giftware 
C) is not; he is willing to spend the company's money 
D) is; he has the desire for the giftware 
E) is not; he does not have the authority to purchase 
A) is; he has very little buying power 
B) is; has the need for the giftware 
C) is not; he is willing to spend the company's money 
D) is; he has the desire for the giftware 
E) is not; he does not have the authority to purchase

Question 12

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

Accepted Answer

A) customer size. 
B) psychographics. 
C) demographics. 
D) use of product. 
E) geographic location 
A) customer size. 
B) psychographics. 
C) demographics. 
D) use of product. 
E) geographic location

Question 13

__________ the total volume of a product, for all firms in an industry, that would be purchased by specific customer groups within a specified period at a given level of industry-wide marketing activity.

Accepted Answer

A) Competitor sales potential is 
B) Sales objective is 
C) Company sales potential is 
D) Market potential is 
A) Competitor sales potential is 
B) Sales objective is 
C) Company sales potential is 
D) Market potential is

Question 14

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

Accepted Answer

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

Question 15

__________ describe the similarities among potential customers within a market segment and explain the differences among people in different market segments.

Accepted Answer

A) Market segmentation variables 
B) Market segment profiles 
C) Segmentation grids 
D) Market differentiation indexes 
E) Market concentrations 
A) Market segmentation variables 
B) Market segment profiles 
C) Segmentation grids 
D) Market differentiation indexes 
E) Market concentrations

Question 16

In order to be considered a market, people do not have to have:

Accepted Answer

A) a need or desire for a particular product. 
B) the ability to purchase the product. 
C) discretionary income to purchase the product. 
D) the willingness to use their buying power. 
E) the authority to buy the specific products. 
A) a need or desire for a particular product. 
B) the ability to purchase the product. 
C) discretionary income to purchase the product. 
D) the willingness to use their buying power. 
E) the authority to buy the specific products.

Question 17

Would a person's political views be an effective variable with which to segment a market for most products? Why or why not?

Accepted Answer

It depends on the specific product and t

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

A person who has buying power also has the authority to buy.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is not true about business markets?

Accepted Answer

A) A purchase may be made in order to resell the item. 
B) A purchase is always made by more than one individual. 
C) They are sometimes referred to as B2B markets. 
D) The purchase may be made to use in production of another product. 
E) They are also referred to as organisational markets. 
A) A purchase may be made in order to resell the item. 
B) A purchase is always made by more than one individual. 
C) They are sometimes referred to as B2B markets. 
D) The purchase may be made to use in production of another product. 
E) They are also referred to as organisational markets.

Marketers select and evaluate relevant market segments by understanding the market needs.

The final step in the target market selection process is:

Which of the following is an example of a behaviouristic segmentation variable?

When a marketer is engaged in the target market selection process and has assessed relevant market segments by considering such factors as sales estimates, competition and estimated costs, the marketer is ready for the next step, which is to:

The five-step process usually used for target market selection includes identifying the appropriate targeting strategy, determining which segmentation variables to use, developing market segment profiles, evaluating relevant market segments and deciding which targeting strategy to use.

Slim Secrets segments its snack bars based on those who have morning cravings, those who crave something extra in the afternoon slump time and those looking for a healthier snack at any time of the day.This is an example of market segmentation based on variables of:

Which variable should the marketers at Lil' Angels use in relation to sales, and what type of forecast method should they use to relate the variables to sales trends?

The primary advantage of a concentrated strategy is that:

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

John has just joined a company as the merchandise buyer for giftware.He has the authority to place orders of up to $100 000 for his new company.He wants to place an order with a new supplier for $250 000.In this case, John part of the market for the giftware because .

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

__________ the total volume of a product, for all firms in an industry, that would be purchased by specific customer groups within a specified period at a given level of industry-wide marketing activity.

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

__________ describe the similarities among potential customers within a market segment and explain the differences among people in different market segments.

In order to be considered a market, people do not have to have:

Would a person's political views be an effective variable with which to segment a market for most products? Why or why not?

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

A person who has buying power also has the authority to buy.

Which of the following is not true about business markets?

Key Concepts in Marketing

Marketing Environment, Social Responsibility and Ethics

Planning, Implementing and Evaluating Marketing Strategy

Marketing Research and Information Systems

Consumer and Business Behaviour

Digital Marketing and Social Networking

The Power of Branding

Product Decisions

Pricing Decisions

Distribution Decisions

Integrating Marketing Communications

People, Physical Evidence, Processes and Partnerships

Filters

Exam 6: Segmentation, Target Markets and Positioning

Marketers select and evaluate relevant market segments by understanding the market needs.

The final step in the target market selection process is:

Which of the following is an example of a behaviouristic segmentation variable?

When a marketer is engaged in the target market selection process and has assessed relevant market segments by considering such factors as sales estimates, competition and estimated costs, the marketer is ready for the next step, which is to:

The five-step process usually used for target market selection includes identifying the appropriate targeting strategy, determining which segmentation variables to use, developing market segment profiles, evaluating relevant market segments and deciding which targeting strategy to use.

Slim Secrets segments its snack bars based on those who have morning cravings, those who crave something extra in the afternoon slump time and those looking for a healthier snack at any time of the day.This is an example of market segmentation based on variables of:

Which variable should the marketers at Lil' Angels use in relation to sales, and what type of forecast method should they use to relate the variables to sales trends?

The primary advantage of a concentrated strategy is that:

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

John has just joined a company as the merchandise buyer for giftware.He has the authority to place orders of up to $100 000 for his new company.He wants to place an order with a new supplier for $250 000.In this case, John __________ part of the market for the giftware because __________.

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

__________ the total volume of a product, for all firms in an industry, that would be purchased by specific customer groups within a specified period at a given level of industry-wide marketing activity.

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

__________ describe the similarities among potential customers within a market segment and explain the differences among people in different market segments.

In order to be considered a market, people do not have to have:

Would a person's political views be an effective variable with which to segment a market for most products? Why or why not?

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

A person who has buying power also has the authority to buy.

Which of the following is not true about business markets?

Key Concepts in Marketing

Marketing Environment, Social Responsibility and Ethics

Planning, Implementing and Evaluating Marketing Strategy

Marketing Research and Information Systems

Consumer and Business Behaviour

Digital Marketing and Social Networking

The Power of Branding

Product Decisions

Pricing Decisions

Distribution Decisions

Integrating Marketing Communications

People, Physical Evidence, Processes and Partnerships

Filters

John has just joined a company as the merchandise buyer for giftware.He has the authority to place orders of up to $100 000 for his new company.He wants to place an order with a new supplier for $250 000.In this case, John part of the market for the giftware because .