Exam 6: Target Markets: Segmentation and Evaluation

A firm operating in a one-state market would not regionalize its market.

Segmentation variables are usually grouped into four categories:

Yvonne and Garret are looking at information about how their organization's products could fit potential customers' needs.This information deals with demographic characteristics,product benefits sought,lifestyles,geographic factors,brand preferences,and usage rates.They are most likely looking at

The undifferentiated targeting strategy for finding a target market will likely not be successful if

What variables are used to segment business markets?

Brian works for a manufacturer of sports equipment and is currently developing a company sales forecast for golf clubs.While reviewing data,he discovered a pattern in sales volume over the past ten years that peaked during two months of each year.Brian likely used which sales forecasting technique?

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.Researchers at GE Transportation estimate that 1,000 rail lines throughout the world will purchase some kind of locomotive engine next year.That number represents the

Most markets for products are made up of individuals or groups with diverse needs for products and are called ____ markets.

In a customer survey,a marketer would question customers about the types and quantities of products they intend to buy during a specific time period.

The Pillsbury company defines all individual consumers who are purchasers of flour as its target market.It also defines all businesses who purchase flour as its target market.What targeting strategy would be most appropriate in this case?

Which of the following is the biggest drawback to using psychographic variables?

Dell segments its business markets into small business,corporate,government agencies,K-12 schools,and higher education institutions.The primary segmentation variable used in this example is

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

Sales forecasts are always long-range in nature.

When evaluating market segments,which three major issues should be considered?

Age,rate of product use,location,and gender are all examples of common

What are the major steps of the target market selection process?

A widely used system for classifying individuals on the basis of lifestyle is

Which of the following products is least likely to be segmented according to stages in the family life cycle?

Motives can be used to segment markets.