Question 1

What is the first step in segmenting a market?

Accepted Answer

A)  set the segmentation goals 
B)  choose a basis or bases for segmenting the market 
C)  select a market or product category for study 
D)  profile and analyze segments 
E)  select target markets 
A)  set the segmentation goals 
B)  choose a basis or bases for segmenting the market 
C)  select a market or product category for study 
D)  profile and analyze segments 
E)  select target markets C

Question 2

When the Sara Lee Bakery Group introduced Iron Kids Crustless bread (to save mothers the time and effort of slicing the crusts off sandwiches),it was using:

Accepted Answer

A)  PRIZM segmentation 
B)  geodemographic segmentation 
C)  niche marketing strategy execution 
D)  product differentiation 
E)  a target market chart 
A)  PRIZM segmentation 
B)  geodemographic segmentation 
C)  niche marketing strategy execution 
D)  product differentiation 
E)  a target market chart D

Question 3

Which of the following statements best describes the reason marketers find geodemographic segmentation so effective?

Accepted Answer

A)  A bird in the hand is worth two in the bush. 
B)  Every action has an opposite and equal reaction. 
C)  A rifle is more exact than a shotgun. 
D)  Don't put all of your eggs in one basket. 
E)  Birds of a feather flock together. 
A)  A bird in the hand is worth two in the bush. 
B)  Every action has an opposite and equal reaction. 
C)  A rifle is more exact than a shotgun. 
D)  Don't put all of your eggs in one basket. 
E)  Birds of a feather flock together. E

Question 4

Which of the following is a means of displaying or graphing,in two or more dimensions,the location of products,brands,or groups of products in customers' minds?

Accepted Answer

A)  perceptual mapping 
B)  product positioning 
C)  market segmentation 
D)  product tracing 
E)  laddering 
A)  perceptual mapping 
B)  product positioning 
C)  market segmentation 
D)  product tracing 
E)  laddering

Question 5

Pharmaceutical firms have introduced new over-the-counter antacids that block the production of stomach acids while still marketing traditional antacids.Traditional antacids treat heartburn by neutralizing stomach acid.If sales of the new acid blockers reduce sales of the traditional antacids,then _____ has occurred.

Accepted Answer

A)  demarketing 
B)  cannibalization 
C)  undifferentiation 
D)  repositioning 
E)  perceptual confusion 
A)  demarketing 
B)  cannibalization 
C)  undifferentiation 
D)  repositioning 
E)  perceptual confusion

Question 6

Turkey Hunting Equipment
Around the beginning of fall each year,about 2.7 million turkey hunters all over the United States start looking at catalogs for the perfect item to guarantee that this year they will kill a wild turkey,the most elusive game bird on the North American continent.The devoted turkey stalker can stock up on everything from camouflaged turkey hunting socks,turkey license plate holders,vests with huge pockets for toting dead birds,and hunting videos to turkey decoys,turkey earrings,and turkey callers.Neil Cost is considered the best manufacturer of turkey callers in the world.It is his only product,and each is highly prized by turkey hunters.It is not unusual for a turkey hunter to pay $5,000 for one of Cost's callers.
-Refer to Turkey Hunting Equipment.Segmenting a market based on the fact that people who enjoy hunting typically exhibit a particular lifestyle is an example of _____ segmentation.

Accepted Answer

A)  benefit 
B)  psychographic 
C)  geographic 
D)  geodemographic 
E)  demographic 
A)  benefit 
B)  psychographic 
C)  geographic 
D)  geodemographic 
E)  demographic

Question 7

Niche marketing is a form of concentrated targeting.

Accepted Answer

A) True 
 B)False

Question 8

Jane graduated from high school in 1978,is married,and has two teenaged children.Most of Jane's friends from high school have children who have already graduated from college,gotten married,and some with grandchildren.Jane and her former classmates are at difference stages of the:

Accepted Answer

A)  internalization phase 
B)  segmentation process 
C)  family life cycle 
D)  psychographic cycle 
E)  maturation process 
A)  internalization phase 
B)  segmentation process 
C)  family life cycle 
D)  psychographic cycle 
E)  maturation process

Question 9

What is product differentiation and how can it be achieved?

Accepted Answer

Product differentiation distinguishes on

Question 10

A research firm has conducted marketing research on the market for metal roofing for homes.The research firm has determined there are thousands of homeowners who want the durability provided by metal roofs.These homeowners are generally married and between 25 and 54 years of age.They tend to live in suburban neighborhoods and most subscribe to lifestyle magazines.If you were interpreting these results,you might suggest that the research firm:

Accepted Answer

A)  conduct additional research because it has no idea about the measurability of its segments 
B)  examine the research report again to see if it can determine segment accessibility 
C)  conduct a follow-up analysis to determine if the segments it might choose would respond differently from other segments to its marketing strategy 
D)  not segment the concrete siding market because the only market for siding is contractors who build the homes 
E)  segment the concrete siding market based on the information provided and concentrate its efforts on suburban homeowners between 25 and 54 who read lifestyle magazines 
A)  conduct additional research because it has no idea about the measurability of its segments 
B)  examine the research report again to see if it can determine segment accessibility 
C)  conduct a follow-up analysis to determine if the segments it might choose would respond differently from other segments to its marketing strategy 
D)  not segment the concrete siding market because the only market for siding is contractors who build the homes 
E)  segment the concrete siding market based on the information provided and concentrate its efforts on suburban homeowners between 25 and 54 who read lifestyle magazines

Question 11

Chandler Kumar owns two antique stores.One is in an upscale neighborhood,and its merchandise is artfully arranged and priced to indicate product rarity.The other is in a run-down strip mall and contains some of the same type of merchandise,but the items are left in open boxes and placed haphazardly on shelves.Customers of either store have entirely different perceptions of the stores and would be surprised to know Kumar operates each of them because he uses such differing _____ strategies.

Accepted Answer

A)  market integration 
B)  segmentation 
C)  targeting 
D)  positioning 
E)  market combination 
A)  market integration 
B)  segmentation 
C)  targeting 
D)  positioning 
E)  market combination

Question 12

Wrestling Merchandise
Market research has shown that 6- to 17-year-old males,18- to 24-year-old females,and 18- to 44-year-old males are most likely to watch a televised professional wrestling event or to attend a live match.Wrestling events are regularly broadcast in 120 different countries.Merchandise licensed by World Wrestling Entertainment (formerly known as the World Wrestling Federation)can be purchased at JCPenney and Wal-Mart.Clothes for adults are used to reach markets that may not buy action figures,video games,and novelty candy,but who are still proud to sport World Wrestling Entertainment (WWE)trademarks.
-Refer to Wrestling Merchandise.The marketing research revealed that _____ segmentation can be used to identify the biggest fans of professional wrestling.

Accepted Answer

A)  benefit 
B)  psychographic 
C)  demographic 
D)  geographic 
E)  geodemographic 
A)  benefit 
B)  psychographic 
C)  demographic 
D)  geographic 
E)  geodemographic

Question 13

Home Cookin' Catering would like to improve customer satisfaction and increase repeat business.When you ask the owners to describe a typical customer,they say it is impossible and explain that with corporate functions,family affairs,and fund-raisers,they do not have a typical customer.You suggest it is time for market segmentation because:

Accepted Answer

A)  it will enable them to build an accurate description of customer needs by group and to design a marketing mix to fit each segment 
B)  the company needs to reduce the size of the market it serves 
C)  the company needs to learn how to group these markets together into one market to serve all of them adequately 
D)  it will help develop a generalized definition of the market as a whole and reveal the optimal marketing mix for this market 
E)  this will position the company in the minds of its consumers as compared to its competitors 
A)  it will enable them to build an accurate description of customer needs by group and to design a marketing mix to fit each segment 
B)  the company needs to reduce the size of the market it serves 
C)  the company needs to learn how to group these markets together into one market to serve all of them adequately 
D)  it will help develop a generalized definition of the market as a whole and reveal the optimal marketing mix for this market 
E)  this will position the company in the minds of its consumers as compared to its competitors

Question 14

What are the four criteria that are necessary to define a market?

Accepted Answer

A market has the following characteristi

Question 15

What is a segmentation base (or segmentation variable)? Name the common segmentation bases used by marketers to segment consumer markets.

Accepted Answer

A segmentation base (or variable)is a ch

Question 16

In market segmentation,individual psychographic variables can be combined with other variables to provide more detailed descriptions of market segments.

Accepted Answer

A) True 
 B)False

Question 17

Private Ears are earphones that a person with limited hearing can use to hear the television without turning the volume up full blast.That way,other family members with normal hearing can watch the television at the appropriate volume for them.Private Ears is using _____ segmentation.

Accepted Answer

A)  usage-rate 
B)  demographic 
C)  geodemographic 
D)  competitive 
E)  benefit 
A)  usage-rate 
B)  demographic 
C)  geodemographic 
D)  competitive 
E)  benefit

Question 18

The Belly Cast kit by Proud Body helps an expectant mom to make a cast of her pregnant body,decorate it and keep it for a lifetime.The primary market segment for the Belly Cast kit is:

Accepted Answer

A)  all parents 
B)  expectant moms 
C)  recently married couples 
D)  parents of toddlers 
E)  collectors of unusual art 
A)  all parents 
B)  expectant moms 
C)  recently married couples 
D)  parents of toddlers 
E)  collectors of unusual art

Question 19

Name the four broad segments of the business market.

Accepted Answer

The four broad segme

Question 20

All of the following are bases for psychographic segmentation EXCEPT:

Accepted Answer

A)  benefits 
B)  personality 
C)  motives 
D)  lifestyles 
E)  geodemographics 
A)  benefits 
B)  personality 
C)  motives 
D)  lifestyles 
E)  geodemographics

What is the first step in segmenting a market?

When the Sara Lee Bakery Group introduced Iron Kids Crustless bread (to save mothers the time and effort of slicing the crusts off sandwiches),it was using:

Which of the following statements best describes the reason marketers find geodemographic segmentation so effective?

Which of the following is a means of displaying or graphing,in two or more dimensions,the location of products,brands,or groups of products in customers' minds?

Niche marketing is a form of concentrated targeting.

Jane graduated from high school in 1978,is married,and has two teenaged children.Most of Jane's friends from high school have children who have already graduated from college,gotten married,and some with grandchildren.Jane and her former classmates are at difference stages of the:

What is product differentiation and how can it be achieved?

What are the four criteria that are necessary to define a market?

What is a segmentation base (or segmentation variable)? Name the common segmentation bases used by marketers to segment consumer markets.

In market segmentation,individual psychographic variables can be combined with other variables to provide more detailed descriptions of market segments.

Private Ears are earphones that a person with limited hearing can use to hear the television without turning the volume up full blast.That way,other family members with normal hearing can watch the television at the appropriate volume for them.Private Ears is using _____ segmentation.

The Belly Cast kit by Proud Body helps an expectant mom to make a cast of her pregnant body,decorate it and keep it for a lifetime.The primary market segment for the Belly Cast kit is:

Name the four broad segments of the business market.

All of the following are bases for psychographic segmentation EXCEPT:

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics & Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Decision Support Systems and Marketing Research

Product Concepts

Developing and Managing Products

Marketing Channels and Supply Chain Management

Retailing

Marketing Communications and Advertising

Public Relations, Sales Promotion, and Personal Selling

Pricing Concepts

Filters

Exam 8: Segmenting and Targeting Markets

What is the first step in segmenting a market?

When the Sara Lee Bakery Group introduced Iron Kids Crustless bread (to save mothers the time and effort of slicing the crusts off sandwiches),it was using:

Which of the following statements best describes the reason marketers find geodemographic segmentation so effective?

Which of the following is a means of displaying or graphing,in two or more dimensions,the location of products,brands,or groups of products in customers' minds?

Niche marketing is a form of concentrated targeting.

Jane graduated from high school in 1978,is married,and has two teenaged children.Most of Jane's friends from high school have children who have already graduated from college,gotten married,and some with grandchildren.Jane and her former classmates are at difference stages of the:

What is product differentiation and how can it be achieved?

What are the four criteria that are necessary to define a market?

What is a segmentation base (or segmentation variable)? Name the common segmentation bases used by marketers to segment consumer markets.

In market segmentation,individual psychographic variables can be combined with other variables to provide more detailed descriptions of market segments.

Private Ears are earphones that a person with limited hearing can use to hear the television without turning the volume up full blast.That way,other family members with normal hearing can watch the television at the appropriate volume for them.Private Ears is using _____ segmentation.

The Belly Cast kit by Proud Body helps an expectant mom to make a cast of her pregnant body,decorate it and keep it for a lifetime.The primary market segment for the Belly Cast kit is:

Name the four broad segments of the business market.

All of the following are bases for psychographic segmentation EXCEPT:

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics & Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Decision Support Systems and Marketing Research

Product Concepts

Developing and Managing Products

Marketing Channels and Supply Chain Management

Retailing

Marketing Communications and Advertising

Public Relations, Sales Promotion, and Personal Selling

Pricing Concepts

Filters