Question 1

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 2

Generally speaking,individuals who are unemployed would not be considered a target market for lawn care services because

Accepted Answer

A) they would not desire such products. 
B) they would not be willing to purchase such products. 
C) they would not have the ability to purchase such products. 
D) such markets are narrowly defined geographically. 
E) they would not be authorized to purchase such products. 
A) they would not desire such products. 
B) they would not be willing to purchase such products. 
C) they would not have the ability to purchase such products. 
D) such markets are narrowly defined geographically. 
E) they would not be authorized to purchase such products.

Question 3

When a company has its sales forecasts prepared by management consultants,economists,or college professors,it is using a(n)

Accepted Answer

A) expert forecasting survey. 
B) Delphi technique. 
C) random factor analysis. 
D) external judgment survey. 
E) market test. 
A) expert forecasting survey. 
B) Delphi technique. 
C) random factor analysis. 
D) external judgment survey. 
E) market test.

Question 4

Scenario 6.2
Use the following to answer the questions.
GE Transportation produces locomotive engines for sale in countries around the world.After looking at the total market for locomotive engines,the company found that various rail lines wanted different types of engines.Major rail lines in the U.S.and South America wanted engines to haul heavy freight.Rail lines in Sweden and Germany were interested in a cleaner,greener locomotive engine.Rail lines operated by several Eastern European countries wanted locomotive 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 shortline transport.
-Refer to Scenario 6.2.If a GE Transportation researcher analyzes monthly sales data for a four-year time frame,looking 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

If a company segments its market on the basis of their reasons for purchasing a particular product,the primary segmentation variable in use is

Accepted Answer

A) lifestyle. 
B) motives. 
C) personality. 
D) benefit expectations. 
E) personality attributes. 
A) lifestyle. 
B) motives. 
C) personality. 
D) benefit expectations. 
E) personality attributes.

Question 6

A targeting strategy in which an organization directs its marketing efforts at several segments is called a(n)____ targeting strategy.

Accepted Answer

A) differentiated 
B) total market 
C) concentrated 
D) undifferentiated 
E) integrated 
A) differentiated 
B) total market 
C) concentrated 
D) undifferentiated 
E) integrated

Question 7

Surveys are sometimes used to forecast sales.

Accepted Answer

A) True 
 B)False

Question 8

Population density and city size are ____ variables used for market segmentation.

Accepted Answer

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

Question 9

Identify the four major categories of segmentation of variables for consumer products,and give three examples of each.

Accepted Answer

The answer of Identify the four major categories of segmentation...

Question 10

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

Accepted Answer

The answer of Discuss the advantages and disadvantages of using...

Question 11

The forecasting techniques that assume past sales patterns will continue into the future are all variations of

Accepted Answer

A) regression analysis. 
B) random factor analysis. 
C) seasonal analysis. 
D) time series analysis. 
E) past sales forecasting surveys. 
A) regression analysis. 
B) random factor analysis. 
C) seasonal analysis. 
D) time series analysis. 
E) past sales forecasting surveys.

Question 12

Smart Balance produces a line of milk products that are lactose-free.The milk comes in pint,quart,and half-gallon cartons,as well as 16-ounce glass bottles.Smart Balance sells its pint cartons to school systems,its quart and half-gallon cartons to grocery stores,and its glass bottles to vending machine operators.Smart Balance appears to use a(n)_____ strategy in marketing its product to a target market that is likely to be _______.

Accepted Answer

A) undifferentiated;homogeneous 
B) undifferentiated;heterogeneous 
C) differentiated;homogenous 
D) differentiated;heterogeneous 
E) concentrated;heterogeneous 
A) undifferentiated;homogeneous 
B) undifferentiated;heterogeneous 
C) differentiated;homogenous 
D) differentiated;heterogeneous 
E) concentrated;heterogeneous

Question 13

Scenario 6.1
Use the following to answer the questions.
Lil' Angels Kids Spa offers various treatments designed to appeal to the younger customer.Treatment options include manicures,pedicures,facials,tea parties,and dress up photos.Parents can even purchase a birthday party package.Currently,Lil' Angels offers its services only to girls under the age of 14.Originally begun in Delaware,Lil' Angels is considering opening its spa/salons in other parts of the country and is planning to expand its offerings to girls aged 14 to 17.The company realizes that some changes may be needed.For example,management wants to find out if the older girls will be interested in their birthday party and tea party services.
-Refer to Scenario 6.1.In calculating the sales forecast for the next year,marketers at Lil' Angels use data from the past five years in order to identify any trends that surface.Additionally,marketers want to find out what family variables relate to those sales.Which of the following variables should the marketers use in relating to sales? What type of forecast method will they be using to relate the variables to sales trends?

Accepted Answer

A) behavioristic;time series analysis 
B) psychographic;time series analysis 
C) demographic;regression analysis 
D) income;regression analysis 
E) family life cycle;market tests 
A) behavioristic;time series analysis 
B) psychographic;time series analysis 
C) demographic;regression analysis 
D) income;regression analysis 
E) family life cycle;market tests

Question 14

Individuals,groups,or organizations 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 15

After an organization 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) analyzing 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) analyzing the interaction between segmentation variables. 
E) developing market segment profiles.

Question 16

The ability to purchase a product is a function of

Accepted Answer

A) buying power. 
B) desire. 
C) willingness. 
D) authority. 
E) needs. 
A) buying power. 
B) desire. 
C) willingness. 
D) authority. 
E) needs.

Question 17

The sales prediction technique based on the correlation between sales and other factors─such as population density,per capita income,or family size─i

Accepted Answer

A) executive judgment. 
B) time series analysis. 
C) regression analysis. 
D) a market test. 
E) an expert survey. 
A) executive judgment. 
B) time series analysis. 
C) regression analysis. 
D) a market test. 
E) an expert survey.

Question 18

Why is it important for marketers to assess competitors before entering a market segment?

Accepted Answer

The answer of Why is it important for marketers to...

Question 19

When a firm designs a single marketing mix and directs it at an entire market for a particular product,the company is using a(n)____ strategy.

Accepted Answer

A) concentrated targeting 
B) differentiated 
C) heterogeneous market 
D) undifferentiated 
E) single mix 
A) concentrated targeting 
B) differentiated 
C) heterogeneous market 
D) undifferentiated 
E) single mix

Question 20

Eighteen-year-old students do not form a market for alcoholic beverages because they

Accepted Answer

A) lack sufficient buying power to form a market. 
B) lack the authority to purchase this type of product. 
C) do not want to purchase this type of product. 
D) do not have sufficient experience with this type of product. 
E) lack the money to purchase this type of product. 
A) lack sufficient buying power to form a market. 
B) lack the authority to purchase this type of product. 
C) do not want to purchase this type of product. 
D) do not have sufficient experience with this type of product. 
E) lack the money to purchase this type of product.

To find a target market,a firm can use the

Generally speaking,individuals who are unemployed would not be considered a target market for lawn care services because

When a company has its sales forecasts prepared by management consultants,economists,or college professors,it is using a(n)

If a company segments its market on the basis of their reasons for purchasing a particular product,the primary segmentation variable in use is

A targeting strategy in which an organization directs its marketing efforts at several segments is called a(n)____ targeting strategy.

Surveys are sometimes used to forecast sales.

Population density and city size are ____ variables used for market segmentation.

Identify the four major categories of segmentation of variables for consumer products,and give three examples of each.

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

The forecasting techniques that assume past sales patterns will continue into the future are all variations of

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

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

The ability to purchase a product is a function of

The sales prediction technique based on the correlation between sales and other factors─such as population density,per capita income,or family size─i

Why is it important for marketers to assess competitors before entering a market segment?

When a firm designs a single marketing mix and directs it at an entire market for a particular product,the company is using a(n)____ strategy.

Eighteen-year-old students do not form a market for alcoholic beverages because they

An Overview of Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product Concepts

Developing and Managing Products

Services Marketing

Branding and Packaging

Marketing Channels and Supply-Chain Management

Retailing, direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters

Exam 6: Target Markets: Segmentation and Evaluation

To find a target market,a firm can use the

Generally speaking,individuals who are unemployed would not be considered a target market for lawn care services because

When a company has its sales forecasts prepared by management consultants,economists,or college professors,it is using a(n)

If a company segments its market on the basis of their reasons for purchasing a particular product,the primary segmentation variable in use is

A targeting strategy in which an organization directs its marketing efforts at several segments is called a(n)____ targeting strategy.

Surveys are sometimes used to forecast sales.

Population density and city size are ____ variables used for market segmentation.

Identify the four major categories of segmentation of variables for consumer products,and give three examples of each.

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

The forecasting techniques that assume past sales patterns will continue into the future are all variations of

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

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

The ability to purchase a product is a function of

The sales prediction technique based on the correlation between sales and other factors─such as population density,per capita income,or family size─i

Why is it important for marketers to assess competitors before entering a market segment?

When a firm designs a single marketing mix and directs it at an entire market for a particular product,the company is using a(n)____ strategy.

Eighteen-year-old students do not form a market for alcoholic beverages because they

An Overview of Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product Concepts

Developing and Managing Products

Services Marketing

Branding and Packaging

Marketing Channels and Supply-Chain Management

Retailing, direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters