Question 1

Starbucks gained a competitive advantage by segmenting the market based on where coffee was consumed and how it was viewed.

Accepted Answer

A) True 
 B)False

Question 2

In a survey of executives at 200 large firms, this percentage reported they had conducted a major segmentation exercise during the previous two years.

Accepted Answer

A)  14% 
B)  25% 
C)  42% 
D)  59% 
E)  70% 
A)  14% 
B)  25% 
C)  42% 
D)  59% 
E)  70%

Question 3

List and describe three common pitfalls in segmenting customers.

Accepted Answer

1. Too many market segments (over-segmen

Question 4

What is the ideal method for segmenting customers on the internet?

Accepted Answer

Usage segmentation groups customers by t

Question 5

Market segmentation is a pillar of any business' success or failure.

Accepted Answer

A) True 
 B)False

Question 6

With only one value proposition, a business wastes resources because

Accepted Answer

A)  it is segmenting its customers. 
B)  it is building brand image. 
C)  customer satisfaction levels are high. 
D)  it is over-serving or under-serving customer needs. 
E)  it is creating value for the customer. 
A)  it is segmenting its customers. 
B)  it is building brand image. 
C)  customer satisfaction levels are high. 
D)  it is over-serving or under-serving customer needs. 
E)  it is creating value for the customer.

Question 7

In selecting target customers, businesses should analyze

Accepted Answer

A)  feedback from the sales force. 
B)  customer attractiveness. 
C)  competitive activity. 
D)  segmentation methodology. 
E)  emerging segments. 
A)  feedback from the sales force. 
B)  customer attractiveness. 
C)  competitive activity. 
D)  segmentation methodology. 
E)  emerging segments.

Question 8

Arbol Industries' offers to provide their industrial customer segment with advice on how to cut manufacturing costs and to provide the home builder segment with guaranteed shipping schedules are examples of their

Accepted Answer

A)  marketing communications strategy. 
B)  public relations strategy. 
C)  sales strategy. 
D)  differentiated value proposition for each segment. 
E)  single value proposition. 
A)  marketing communications strategy. 
B)  public relations strategy. 
C)  sales strategy. 
D)  differentiated value proposition for each segment. 
E)  single value proposition.

Question 9

Explain why segmenting customers by demographic variables is rarely effective.

Accepted Answer

Two consumers may make the same amount o

Question 10

Customer segments differ not only in needs, but also in their willingness to pay for your goods and services..

Accepted Answer

A) True 
 B)False

Question 11

Explain how segmenting and targeting customers was the key to W.L. Gore & Associates' successful introduction of its shred-proof dental floss, Glide.

Accepted Answer

They decided to target their innovation

Question 12

The best way to segment customers is by examining their needs and their attractiveness to you.

Accepted Answer

A) True 
 B)False

Question 13

How should a business select customers to target?

Accepted Answer

Many businesses mistakenly focus on the

Question 14

Sony focused on this emerging segment when it introduced the transistor radio almost 60 years ago.

Accepted Answer

A)  teens 
B)  adults 
C)  married couples 
D)  seniors 
E)  small business owners 
A)  teens 
B)  adults 
C)  married couples 
D)  seniors 
E)  small business owners

Question 15

The first basic principle of market segmentation is that

Accepted Answer

A)  market share is the most important factor. 
B)  all customers are created equal. 
C)  becoming bigger means becoming more profitable. 
D)  the size of the business matters to customers. 
E)  a business exists to be profitable. 
A)  market share is the most important factor. 
B)  all customers are created equal. 
C)  becoming bigger means becoming more profitable. 
D)  the size of the business matters to customers. 
E)  a business exists to be profitable.

Question 16

The business world has seen an explosion of customer segments, products, channels, and media.

Accepted Answer

A) True 
 B)False

Question 17

W. L. Gore & Associates successfully marketed its shred-proof dental floss, Glide, by targeting

Accepted Answer

A)  supermarkets. 
B)  drug stores. 
C)  seniors. 
D)  dentists. 
E)  children. 
A)  supermarkets. 
B)  drug stores. 
C)  seniors. 
D)  dentists. 
E)  children.

Question 18

Segmenting customers by demographic variables is

Accepted Answer

A)  highly effective. 
B)  cost-effective. 
C)  time-consuming. 
D)  rarely effective. 
E)  superior to using psychographic variables. 
A)  highly effective. 
B)  cost-effective. 
C)  time-consuming. 
D)  rarely effective. 
E)  superior to using psychographic variables.

Exam 31: Choosing Which Customers to Serve

Starbucks gained a competitive advantage by segmenting the market based on where coffee was consumed and how it was viewed.

In a survey of executives at 200 large firms, this percentage reported they had conducted a major segmentation exercise during the previous two years.

List and describe three common pitfalls in segmenting customers.

What is the ideal method for segmenting customers on the internet?

Market segmentation is a pillar of any business' success or failure.

With only one value proposition, a business wastes resources because

In selecting target customers, businesses should analyze

Arbol Industries' offers to provide their industrial customer segment with advice on how to cut manufacturing costs and to provide the home builder segment with guaranteed shipping schedules are examples of their

Explain why segmenting customers by demographic variables is rarely effective.

Customer segments differ not only in needs, but also in their willingness to pay for your goods and services..

Explain how segmenting and targeting customers was the key to W.L. Gore & Associates' successful introduction of its shred-proof dental floss, Glide.

The best way to segment customers is by examining their needs and their attractiveness to you.

How should a business select customers to target?

Sony focused on this emerging segment when it introduced the transistor radio almost 60 years ago.

The first basic principle of market segmentation is that

The business world has seen an explosion of customer segments, products, channels, and media.

W. L. Gore & Associates successfully marketed its shred-proof dental floss, Glide, by targeting

Segmenting customers by demographic variables is

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