Exam 10: Developing a Target Market Strategy

A camera manufacturer appeals to medium to high film users through its product features and promotion. This is an application of personal demographic segmentation.

The best of the attributes of undifferentiated marketing and concentrated marketing are combined in

Which strategy minimizes conflict among channel members by allowing them to sell different brand and product line designations?

The degree to which a company achieves its sales potential is its

A small-sized cluster in clustered demand can represent a market niche.

Under undifferentiated marketing, different market segments are not identified and sought.

a. What are the advantages to the use of a concentrated marketing strategy? b. What are the disadvantages to this strategy?

Diminishing returns is most applicable when a firm

Which statement about concentrated marketing is NOT correct?

An industrial marketer of thermostats has decided to target the 10 largest air conditioner, refrigerator, and dehumidifier manufacturers that are located in the Northeast. The firm is using which segmentation base?

Which comparative advantage do firms in monopolistic competition seek?

The opposite of the chain-ratio method is

Which of the following is NOT a limitation of segmentation?

In contrast to the VALS 2 model of consumer behavior, the Social Styles model

Simple trend analysis does not seek to explain the factors that have caused past fluctutations in sales.

Benefit segmentation involves grouping consumers into markets on the basis of both geographic and personal demographic variables.

The market for a good or service is best defined as all of the

Which of the following statements concerning the term "market" is NOT correct?

The major goal of an undifferentiated marketing strategy is to

Since a person's resources typically change with his or her age according to VALS 2, a person's classification can change as he/she matures.