A) a market segmentation approach in which firms focus precise marketing efforts on very small geographic markets. B) developing a very specific marketing mix that will effectively meet the needs of only a small segment of the market. C) marketing efforts that are tightly controlled by high-level executives in the organization. D) a way to segment the market to meet the needs of individuals with the same motives and personality attributes. E) creating advertising that is so specific to a certain type of individual that few people outside that micromarket will respond to the message. A) a market segmentation approach in which firms focus precise marketing efforts on very small geographic markets. B) developing a very specific marketing mix that will effectively meet the needs of only a small segment of the market. C) marketing efforts that are tightly controlled by high-level executives in the organization. D) a way to segment the market to meet the needs of individuals with the same motives and personality attributes. E) creating advertising that is so specific to a certain type of individual that few people outside that micromarket will respond to the message.

Exam 5: Target Market Segmentation and Evaluation

Alpine Ski Shops is looking for new markets for both its brick and mortar retail stores and its catalog division. Alpine Ski Shops would most likely use a(n) base for market segmentation of its stores and a(n) base for market segmentation of its catalog division?

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(Multiple Choice)

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Question 1

Correct Answer:

Verified

The Sara Lee Company is attempting to forecast sales for a new ice cream cake. To come up with an accurate forecast, Sara Lee places the product in Atlanta supermarkets for a period of four months. In this instance, Sara Lee is using which forecasting method?

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(Multiple Choice)

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Question 2

Correct Answer:

Verified

Describe the three areas marketers should examine when they evaluate relevant market segments.

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(Essay)

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Question 3

Correct Answer:

Verified

After analyzing the market segment profiles, a marketer should be able to narrow his or her focus to several promising segments that warrant further analysis. Marketers should examine sales estimates, competition, and estimated costs associated with each of these segments. Potential sales for a market segment can be measured along several dimensions, including product level, geographic area, time, and level of competition. Besides obtaining sales estimates, it is crucial to assess competitors that are already operating in the segments being considered. A market segment that initially seems attractive based on sales estimates may turn out to be much less so after a competitive assessment. To fulfill the needs of a target segment, an organization must develop and maintain a marketing mix that precisely meets the wants and needs of that segment, which can be expensive.

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

(Multiple Choice)

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Question 4

Market segment profiles help determine the most desirable segment or segments in relation to the firm's strengths, weaknesses, objectives, and resources.

(True/False)

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Question 5

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

(Multiple Choice)

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Question 6

Micromarketing is

(Multiple Choice)

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Question 7

When markets are comprised of people with differing product needs, the marketing manager should use a(n) ____ strategy.

(Multiple Choice)

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Question 8

Segmentation variables are characteristics of individuals, groups, or organizations in a total market.

(True/False)

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Question 9

Any group of people who, as individuals or as organizations, have needs for products in a product class and who have the ability, willingness, and authority to buy such products is a(n)

(Multiple Choice)

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Question 10

Procter & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter & Gamble is using a(n) ____ targeting strategy for laundry detergents.

(Multiple Choice)

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Question 11

Demographic characteristics are commonly used to segment a market because they are closely related to consumers' product needs and purchasing behavior.

(True/False)

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Question 12

If Campbell were to offer single serving "Soup for One" packages to household markets, it would be using segmentation based on

(Multiple Choice)

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Question 13

Which of the following statements about market segment profiles is true?

(Multiple Choice)

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Question 14

A company sometimes defines a total market as its target market.

(True/False)

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Question 15

Why is it important for marketers to estimate sales potential for the entire industry as well as for the individual company?

(Essay)

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Question 16

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

(True/False)

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Question 17

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.

(Multiple Choice)

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Question 18

Discuss the advantages and disadvantages of using executive judgment in forecasting company sales.

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Question 19

What are the conditions under which an undifferentiated targeting strategy is effective? Why are these conditions essential?

(Essay)

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Question 20

Showing 1 - 20 of 216

Alpine Ski Shops is looking for new markets for both its brick and mortar retail stores and its catalog division. Alpine Ski Shops would most likely use a(n) base for market segmentation of its stores and a(n) base for market segmentation of its catalog division?

The Sara Lee Company is attempting to forecast sales for a new ice cream cake. To come up with an accurate forecast, Sara Lee places the product in Atlanta supermarkets for a period of four months. In this instance, Sara Lee is using which forecasting method?

Describe the three areas marketers should examine when they evaluate relevant market segments.

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

Market segment profiles help determine the most desirable segment or segments in relation to the firm's strengths, weaknesses, objectives, and resources.

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

Micromarketing is

When markets are comprised of people with differing product needs, the marketing manager should use a(n) ____ strategy.

Segmentation variables are characteristics of individuals, groups, or organizations in a total market.

Any group of people who, as individuals or as organizations, have needs for products in a product class and who have the ability, willingness, and authority to buy such products is a(n)

Procter & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter & Gamble is using a(n) ____ targeting strategy for laundry detergents.

Demographic characteristics are commonly used to segment a market because they are closely related to consumers' product needs and purchasing behavior.

If Campbell were to offer single serving "Soup for One" packages to household markets, it would be using segmentation based on

Which of the following statements about market segment profiles is true?

A company sometimes defines a total market as its target market.

Why is it important for marketers to estimate sales potential for the entire industry as well as for the individual company?

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

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.

Discuss the advantages and disadvantages of using executive judgment in forecasting company sales.

What are the conditions under which an undifferentiated targeting strategy is effective? Why are these conditions essential?

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 Packing 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 Market Segmentation and Evaluation

Alpine Ski Shops is looking for new markets for both its brick and mortar retail stores and its catalog division. Alpine Ski Shops would most likely use a(n) ______ base for market segmentation of its stores and a(n) ______ base for market segmentation of its catalog division?

The Sara Lee Company is attempting to forecast sales for a new ice cream cake. To come up with an accurate forecast, Sara Lee places the product in Atlanta supermarkets for a period of four months. In this instance, Sara Lee is using which forecasting method?

Describe the three areas marketers should examine when they evaluate relevant market segments.

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

Market segment profiles help determine the most desirable segment or segments in relation to the firm's strengths, weaknesses, objectives, and resources.

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

Micromarketing is

When markets are comprised of people with differing product needs, the marketing manager should use a(n) ____ strategy.

Segmentation variables are characteristics of individuals, groups, or organizations in a total market.

Any group of people who, as individuals or as organizations, have needs for products in a product class and who have the ability, willingness, and authority to buy such products is a(n)

Procter & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter & Gamble is using a(n) ____ targeting strategy for laundry detergents.

Demographic characteristics are commonly used to segment a market because they are closely related to consumers' product needs and purchasing behavior.

If Campbell were to offer single serving "Soup for One" packages to household markets, it would be using segmentation based on

Which of the following statements about market segment profiles is true?

A company sometimes defines a total market as its target market.

Why is it important for marketers to estimate sales potential for the entire industry as well as for the individual company?

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

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.

Discuss the advantages and disadvantages of using executive judgment in forecasting company sales.

What are the conditions under which an undifferentiated targeting strategy is effective? Why are these conditions essential?

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 Packing 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

Alpine Ski Shops is looking for new markets for both its brick and mortar retail stores and its catalog division. Alpine Ski Shops would most likely use a(n) base for market segmentation of its stores and a(n) base for market segmentation of its catalog division?