Exam 8: Segmenting and Targeting Markets

Sheera Jewelry sends birthday greeting cards to each of its customers as a token of appreciation for shopping at its store.This exemplifies the customer relationship management (CRM)trend of _____.

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(Multiple Choice)

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Question 1

Correct Answer:

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Apart from long-term company profits,the major aim of customer relationship management (CRM)is to:

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Question 2

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Write a note on the final step of the market segmentation process.

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Question 3

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The final step in market segmentation is to design,implement,and maintain appropriate marketing mixes.The marketing mix has been described as product,place (distribution),promotion,and pricing strategies intended to bring about a mutually satisfying exchange relationship with a market.Markets are dynamic,so it is important that companies proactively monitor their segmentation strategies over time.

A market is composed of people or organizations who have the ability to buy the products they desire.

(True/False)

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Question 4

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 5

When Prisly Inc.introduced a liquid detergent in the market,it noticed that the sales of its detergent powder significantly declined.Prisly Inc.'s loyal customers who previously purchased detergent powder switched to liquid detergent.As a result,Prisly Inc.was forced to reduce production of its detergent powder.This scenario exemplifies__________.

(Short Answer)

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Question 6

The purpose of market segmentation is to enable a marketer to tailor marketing mixes to meet the needs of specific segments.

(True/False)

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Question 7

__________are business customers who consider numerous suppliers,solicit bids,and study all proposals carefully before selecting one.

(Short Answer)

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Question 8

Volten Inc.is an online apparel store.It has separate sections for casual wear,office wear,and party wear.It also divides its products on the basis of price to suit people of various income levels.In this way,it caters to different sections of society.Which of the following bases has the company most likely used for positioning its products?

(Multiple Choice)

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Question 9

__________is a means of displaying or graphing,in two or more dimensions,the location of products,brands,or groups of products in customers' minds.

(Short Answer)

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Question 10

Brasco Motor Company produces a wide range of vehicles such as passenger cars,commercial trucks,specialty vehicles,performance vehicles,and race cars.Each type of car has a separate and distinct customer base.Given this information,Brasco Motor Company has divided its customer base by using the strategy of__________.

(Short Answer)

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Question 11

Cannibalization occurs when the sales of an existing product remain the same despite the introduction of a new product.

(True/False)

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Question 12

Wesley Electronics Inc.manufactures electronic gadgets such as cell phones,computers,and laptops.To let people know about the products offered,the marketing managers of Wesley Electronics Inc.spend a great deal of money on advertising.They employed various methods of advertising such as print,television,and online advertising.Given this information,Wesley Electronics Inc.is in which step of market segmentation?

(Multiple Choice)

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Question 13

Tennot Designs Inc.manufactures and sells clothes and shoes to people who are over 6'6" tall - a rather small target market.Given this information,Tennot Designs Inc.uses a(n)__________targeting strategy.

(Short Answer)

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Question 14

Wine Tasters Inc.is a magazine that targets people who appreciate wine and good food.Its major customer base include people who enjoy wine-tasting events and visit different restaurants.Given this information,Wine Tasters most likely relies on which of the following variables to identify its target market?

(Multiple Choice)

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Question 15

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

(Multiple Choice)

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Question 16

Which of the following best describes a multisegment targeting strategy?

(Multiple Choice)

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Question 17

How do marketers use customer relationship management (CRM)as a targeting tool?

(Essay)

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Question 18

A market segment is a subgroup of people or organizations having different characteristics that cause them to have distinct product needs.

(True/False)

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Question 19

Which of the following is a disadvantage associated with an undifferentiated targeting strategy?

(Multiple Choice)

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Question 20

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Sheera Jewelry sends birthday greeting cards to each of its customers as a token of appreciation for shopping at its store.This exemplifies the customer relationship management (CRM)trend of _____.

Apart from long-term company profits,the major aim of customer relationship management (CRM)is to:

Write a note on the final step of the market segmentation process.

A market is composed of people or organizations who have the ability to buy the products they desire.

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 _____.

The purpose of market segmentation is to enable a marketer to tailor marketing mixes to meet the needs of specific segments.

__________are business customers who consider numerous suppliers,solicit bids,and study all proposals carefully before selecting one.

__________is a means of displaying or graphing,in two or more dimensions,the location of products,brands,or groups of products in customers' minds.

Cannibalization occurs when the sales of an existing product remain the same despite the introduction of a new product.

Tennot Designs Inc.manufactures and sells clothes and shoes to people who are over 6'6" tall - a rather small target market.Given this information,Tennot Designs Inc.uses a(n)__________targeting strategy.

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

Which of the following best describes a multisegment targeting strategy?

How do marketers use customer relationship management (CRM)as a targeting tool?

A market segment is a subgroup of people or organizations having different characteristics that cause them to have distinct product needs.

Which of the following is a disadvantage associated with an undifferentiated targeting strategy?

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management

Marketing Channels

Retailing

Marketing Communications

Advertising, public Relations, and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Setting the Right Price

Filters

Exam 8: Segmenting and Targeting Markets

​Sheera Jewelry sends birthday greeting cards to each of its customers as a token of appreciation for shopping at its store.This exemplifies the customer relationship management (CRM)trend of _____.

Apart from long-term company profits,the major aim of customer relationship management (CRM)is to:

Write a note on the final step of the market segmentation process.

A market is composed of people or organizations who have the ability to buy the products they desire.

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 _____.​

The purpose of market segmentation is to enable a marketer to tailor marketing mixes to meet the needs of specific segments.

__________are business customers who consider numerous suppliers,solicit bids,and study all proposals carefully before selecting one.

__________is a means of displaying or graphing,in two or more dimensions,the location of products,brands,or groups of products in customers' minds.

Cannibalization occurs when the sales of an existing product remain the same despite the introduction of a new product.

Tennot Designs Inc.manufactures and sells clothes and shoes to people who are over 6'6" tall - a rather small target market.Given this information,Tennot Designs Inc.uses a(n)__________targeting strategy.

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

Which of the following best describes a multisegment targeting strategy?

How do marketers use customer relationship management (CRM)as a targeting tool?

A market segment is a subgroup of people or organizations having different characteristics that cause them to have distinct product needs.

Which of the following is a disadvantage associated with an undifferentiated targeting strategy?

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management

Marketing Channels

Retailing

Marketing Communications

Advertising, public Relations, and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Setting the Right Price

Filters

Sheera Jewelry sends birthday greeting cards to each of its customers as a token of appreciation for shopping at its store.This exemplifies the customer relationship management (CRM)trend of _____.

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 _____.