Question 1

There are only two basic strategies for selecting target markets: the undifferentiated targeting strategy and the concentrated targeting strategy.

Accepted Answer

A) True 
 B)False

Question 2

Individuals, groups or organisations with one or more similar characteristics that cause them to have similar product needs are classified as:

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 3

Which best describes Lil' Angels' current approach to the market?

Accepted Answer

A) It is segmenting the market according to demographic variables. 
B) It is segmenting the market according to product-related variables. 
C) It has chosen a segment that is not identifiable and divisible. 
D) Its market is impossible to reach because of legal constraints. 
E) It is not segmenting the market but is attempting to reach everyone with the product. 
A) It is segmenting the market according to demographic variables. 
B) It is segmenting the market according to product-related variables. 
C) It has chosen a segment that is not identifiable and divisible. 
D) Its market is impossible to reach because of legal constraints. 
E) It is not segmenting the market but is attempting to reach everyone with the product.

Question 4

The build-up approach measure of sales potential:

Accepted Answer

A) starts with broad estimates of general economic activity. 
B) ends with an estimate of a single firm's sales of a specific product. 
C) starts with forecasts about demand for a specific product within a relatively small area. 
D) does not use sales estimates. 
E) is seldom employed by industrial firms. 
A) starts with broad estimates of general economic activity. 
B) ends with an estimate of a single firm's sales of a specific product. 
C) starts with forecasts about demand for a specific product within a relatively small area. 
D) does not use sales estimates. 
E) is seldom employed by industrial firms.

Question 5

What are the advantages of segmenting the market?

Accepted Answer

Segmenting the market refers to the proc

Question 6

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.
-Suppose that GE Transportation decided to produce only train engines for rail lines in the USA.The segmentation variable then would be:

Accepted Answer

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

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

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 9

After a firm has identified an appropriate targeting strategy, the next step in the target market selection process is:

Accepted Answer

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

Question 10

The four categories of consumer markets are producer, reseller, government and institutional.

Accepted Answer

A) True 
 B)False

Question 11

A consumer market consists of buyers intending to use the product with the main purpose of making a profit.

Accepted Answer

A) True 
 B)False

Question 12

To find a target market, a firm can use the:

Accepted Answer

A) total market strategy and the undifferentiated strategy. 
B) product differentiation strategy and the customer differentiation strategy. 
C) demographic strategy and the psychographic strategy. 
D) socioeconomic strategy and the psychological strategy. 
E) undifferentiated strategy, the concentrated strategy and the differentiated strategy. 
A) total market strategy and the undifferentiated strategy. 
B) product differentiation strategy and the customer differentiation strategy. 
C) demographic strategy and the psychographic strategy. 
D) socioeconomic strategy and the psychological strategy. 
E) undifferentiated strategy, the concentrated strategy and the differentiated strategy.

Question 13

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

Accepted Answer

A) the total market should be divided so that segments can be compared on sales potential, costs and profits. 
B) customers' needs for a product must be homogeneous. 
C) a company must be able to reach the chosen segment with a particular marketing mix. 
D) segments must be identifiable and divisible. 
E) at least one segment must have enough profit potential to justify developing and maintaining a special marketing mix for that segment. 
A) the total market should be divided so that segments can be compared on sales potential, costs and profits. 
B) customers' needs for a product must be homogeneous. 
C) a company must be able to reach the chosen segment with a particular marketing mix. 
D) segments must be identifiable and divisible. 
E) at least one segment must have enough profit potential to justify developing and maintaining a special marketing mix for that segment.

Question 14

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.
-What segmentation variable is GE Transportation using to select a target market?

Accepted Answer

A) Demographic 
B) Benefit expectations 
C) Income 
D) Volume usage 
E) Psychographic 
A) Demographic 
B) Benefit expectations 
C) Income 
D) Volume usage 
E) Psychographic

Question 15

A market segment profile describes the similarities among potential customers within a segment and explains the differences among people across market segments.

Accepted Answer

A) True 
 B)False

Question 16

Retail site-location analyses, unique product offerings and special advertising campaigns are all examples of the use of:

Accepted Answer

A) market density. 
B) demographic segmentation. 
C) behaviouristic segmentation. 
D) environmental segmentation. 
E) micromarketing. 
A) market density. 
B) demographic segmentation. 
C) behaviouristic segmentation. 
D) environmental segmentation. 
E) micromarketing.

Question 17

Unilever markets Omo Blackwash liquid to singles and Omo Sensitive liquid to families.Unilever is using a(n) __________ targeting strategy for laundry detergents.

Accepted Answer

A) multi-use 
B) differentiated 
C) stratified 
D) undifferentiated 
E) concentrated 
A) multi-use 
B) differentiated 
C) stratified 
D) undifferentiated 
E) concentrated

Question 18

BlueScope Steel provides steel for a variety of uses to its various customers in Australia and around the world.Customers have different needs for the steel, and thus BlueScope has to prepare the raw steel differently depending on how customers will use it in their production processes.The primary business segmentation variable in this example is:

Accepted Answer

A) geographic location. 
B) customer size. 
C) product use. 
D) customer importance. 
E) organisation classification. 
A) geographic location. 
B) customer size. 
C) product use. 
D) customer importance. 
E) organisation classification.

Question 19

After segmentation analysis, marketers in an organisation sometimes decide not to enter any segments.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A) evaluating each of the relevant market segments. 
B) selecting the specific target markets. 
C) reviewing the appropriate marketing strategy. 
D) analysing the interaction between segmentation variables. 
E) developing market segment profiles. 
A) evaluating each of the relevant market segments. 
B) selecting the specific target markets. 
C) reviewing the appropriate marketing strategy. 
D) analysing the interaction between segmentation variables. 
E) developing market segment profiles.

There are only two basic strategies for selecting target markets: the undifferentiated targeting strategy and the concentrated targeting strategy.

Individuals, groups or organisations with one or more similar characteristics that cause them to have similar product needs are classified as:

Which best describes Lil' Angels' current approach to the market?

The build-up approach measure of sales potential:

What are the advantages of segmenting the market?

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

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

After a firm has identified an appropriate targeting strategy, the next step in the target market selection process is:

The four categories of consumer markets are producer, reseller, government and institutional.

A consumer market consists of buyers intending to use the product with the main purpose of making a profit.

To find a target market, a firm can use the:

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

A market segment profile describes the similarities among potential customers within a segment and explains the differences among people across market segments.

Retail site-location analyses, unique product offerings and special advertising campaigns are all examples of the use of:

Unilever markets Omo Blackwash liquid to singles and Omo Sensitive liquid to families.Unilever is using a(n) __________ targeting strategy for laundry detergents.

After segmentation analysis, marketers in an organisation sometimes decide not to enter any segments.

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

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

There are only two basic strategies for selecting target markets: the undifferentiated targeting strategy and the concentrated targeting strategy.

Individuals, groups or organisations with one or more similar characteristics that cause them to have similar product needs are classified as:

Which best describes Lil' Angels' current approach to the market?

The build-up approach measure of sales potential:

What are the advantages of segmenting the market?

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

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

After a firm has identified an appropriate targeting strategy, the next step in the target market selection process is:

The four categories of consumer markets are producer, reseller, government and institutional.

A consumer market consists of buyers intending to use the product with the main purpose of making a profit.

To find a target market, a firm can use the:

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

A market segment profile describes the similarities among potential customers within a segment and explains the differences among people across market segments.

Retail site-location analyses, unique product offerings and special advertising campaigns are all examples of the use of:

Unilever markets Omo Blackwash liquid to singles and Omo Sensitive liquid to families.Unilever is using a(n) __________ targeting strategy for laundry detergents.

After segmentation analysis, marketers in an organisation sometimes decide not to enter any segments.

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

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