Exam 8: Segmenting and Targeting Markets

In order to attract customers who are blue-collar workers,Prisly Inc.,a laundry detergent manufacturer,introduced a liquid detergent that easily removes tough stains.Soon after,the management noticed that there was a significant drop in the sales of its detergent powder as the company's loyal customers,who previously purchased the detergent powder,started purchasing the more effective liquid detergent.As a result,Prisly Inc.was forced to reduce production of its detergent powder.In this scenario,it is evident that Prisly Inc.has adopted a(n)_____.

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(Multiple Choice)

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Question 1

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A firm that adopts an undifferentiated targeting strategy assumes that

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(Multiple Choice)

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Question 2

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Discuss the reasons why consumer goods companies adopt geographic segmentation as their approach to market segmentation.

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(Essay)

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Question 3

Correct Answer:

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Answers will vary.Geographic segmentation refers to segmenting markets by region of a country or the world,market size,market density,or climate.Consumer goods companies take a regional approach to marketing for four reasons.First,many firms need to find new ways to generate sales because of sluggish and intensely competitive markets.Second,computerized checkout stations with scanners give retailers an accurate assessment of which brands sell best in their region.Third,many packaged-goods manufacturers are introducing new regional brands intended to appeal to local preferences.Fourth,a more regional approach allows consumer goods companies to react more quickly to competition.REJ: Please see the section "Bases for Segmenting Consumer Markets" for more information.

A market is people or organizations with needs or wants and with the ability and the willingness to buy.

(True/False)

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Question 4

Which of the following statements is true of a concentrated targeting strategy?

(Multiple Choice)

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Question 5

Kirksand Airlines is well-known for providing excellent service and personalized attention to its flyers.The staff listen carefully to the flyers' wants and needs.If a flyer had any specific requests,the staff member would see to it that the flyer's needs are immediately attended to.In this scenario,on which of the following trends has Kirksand Airlines based its customer relationship management?

(Multiple Choice)

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Question 6

Tennot Designs Inc.manufactures and sells clothes and shoes.Which of the following strategies will the company most likely employ if idecides to adopt a concentrated targeting strategy?

(Multiple Choice)

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Question 7

In the context of customer relationship management,_____ offers marketers a more cost-effective way to reach customers and enables businesses to personalize their messages.

(Multiple Choice)

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Question 8

A firm using a(n)_____ essentially adopts a mass-market philosophy,viewing the market as one big market with no individual segments

(Multiple Choice)

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Question 9

A firm's marketing mix is intended to bring about a mutually satisfying exchange relationship with a market.

(True/False)

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Question 10

Which of the following statements is true of market segmentation?

(Multiple Choice)

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Question 11

For a successful market segmentation,one marketing mix cannot be used for another market segment.

(True/False)

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Question 12

ModerateWhich of the following statements is true of a product positioning strategy?

(Multiple Choice)

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Question 13

In the context of customer relationship management trends,which of the following statements is true of personalization?

(Multiple Choice)

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Question 14

Which of the following targeting strategies results in cannibalization of products?

(Multiple Choice)

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Question 15

Which of the following is an advantage of a multisegment targeting strategy

(Multiple Choice)

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Question 16

The distinctions between products created through product differentiation can be either real or perceived.

(True/False)

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Question 17

Starlight Jewelry sends Lauren a birthday greeting card along with a pendant as a token of appreciation for shopping frequently at its store.The trend portrayed in this customer relationship management technique is _____.

(Multiple Choice)

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Question 18

Which of the following is a similarity between a stock market and a labor market?

(Multiple Choice)

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Question 19

Nalpas Inc.,an apparel company,manufactures clothes for men,women,and children.It further divides its core customers on the basis of demographic variables such as income,ethnic background,and family life cycle.These divisions are known as _____.

(Multiple Choice)

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Question 20

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A firm that adopts an undifferentiated targeting strategy assumes that

Discuss the reasons why consumer goods companies adopt geographic segmentation as their approach to market segmentation.

A market is people or organizations with needs or wants and with the ability and the willingness to buy.

Which of the following statements is true of a concentrated targeting strategy?

Tennot Designs Inc.manufactures and sells clothes and shoes.Which of the following strategies will the company most likely employ if idecides to adopt a concentrated targeting strategy?

In the context of customer relationship management,_____ offers marketers a more cost-effective way to reach customers and enables businesses to personalize their messages.

A firm using a(n)_____ essentially adopts a mass-market philosophy,viewing the market as one big market with no individual segments

A firm's marketing mix is intended to bring about a mutually satisfying exchange relationship with a market.

Which of the following statements is true of market segmentation?

For a successful market segmentation,one marketing mix cannot be used for another market segment.

ModerateWhich of the following statements is true of a product positioning strategy?

In the context of customer relationship management trends,which of the following statements is true of personalization?

Which of the following targeting strategies results in cannibalization of products?

Which of the following is an advantage of a multisegment targeting strategy

The distinctions between products created through product differentiation can be either real or perceived.

Starlight Jewelry sends Lauren a birthday greeting card along with a pendant as a token of appreciation for shopping frequently at its store.The trend portrayed in this customer relationship management technique is _____.

Which of the following is a similarity between a stock market and a labor market?

Nalpas Inc.,an apparel company,manufactures clothes for men,women,and children.It further divides its core customers on the basis of demographic variables such as income,ethnic background,and family life cycle.These divisions are known as _____.

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