Exam 6: Target Markets: Segmentation and Evaluation

General Electric calculates that the total number of light bulbs sold to consumers in the next year by all light bulb producers is 1 billion, given anticipated marketing efforts by the firms involved. This figure represents the industry's

The final step in the target market selection process is

A forecasting method that predicts sales based on relationships between past sales and other variables is called

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.

At times, after doing segmentation analysis, marketers in an organization decide not to enter any segments.

During the evaluation of relevant market segments, competitive assessment is used primarily to determine the possibility of additional competitors entering particular segments.

Variables such as geographic location, type of organization, customer size, and type of product usage are used to segment ____ markets.

The most important reason that a firm might use a sales force forecasting survey to determine its sales forecast is

Pedigree is a leading brand of dog food in the United States. Suppose the maker of Pedigree decided to extend its line of products by offering a different version made with more natural ingredients. Pedigree must be sure that its marketing communications distinctly position this product (i.e., separate it from the other products in the line) or the result could be

The types of surveys used to forecast sales are customer, executive, and competitor surveys.

Mia is pet-sitting for a friend's dog while he is on vacation. Her friend has given Mia all sorts of information, including the veterinarian's name and phone number, pet emergency center location, and the dog's favorite bedtime snack. The first evening of the vacation, Mia realizes that her friend did not bring the dog's food over, and she has no idea what the dog eats. Her friend's cell phone is "out of range" at the moment, so Mia must go to the grocery store and shop for dog food, even though she has never bought it before now. In this case, even though Mia is not a dog owner, she is likely to be part of the market for dog food for all of the following reasons except _______.

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

Systems such as PRIZM and Acorn provide companies with lifestyle and demographic information about neighborhoods throughout the United States. This information is used to aid

Segmentation variables are characteristics of individuals, groups, or organizations in a total market.

The Sara Lee Company is attempting to forecast sales for a new ice cream cake. To come up with an accurate forecast, Sara Lee places the product in Atlanta supermarkets for a period of four months. In this instance, Sara Lee is using which forecasting method?

A firm ordinarily uses the same sales forecasting method for determining short-range and long-range sales forecasts.

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. Which of the following best describes Lil' Angels' current approach to the market?

Lifestyle is a product-related variable.

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

Cosmopolitan magazine, Car and Driver magazine, Secret deodorant, and Axe body wash are all products whose marketers have used segmentation based on