Question 1

Not-for-profit organizations practice market segmentation.

Accepted Answer

A) True 
 B)False

Question 2

The group born between 1968 and 1979,now generally in their early 30s to early 40s are referred to as Generation Y.

Accepted Answer

A) True 
 B)False

Question 3

The practice of dividing an overall market into homogeneous groups based on the location is called _____.

Accepted Answer

A) target market 
B) market segmentation 
C) cohort effect 
D) primary metropolitan statistical area 
E) differentiated marketing
F)concentrated marketing
G)micromarketing
H)positioning map
I)VALS
J)AIO statement
K)core region
L)consumer product
M)demographic segmentation
N)Praedo's law
O)psychographic segmentation
P)geographic information systems
Q)positioning
R)geographic segmentation
S)business product
T)mass marketing 
A) target market 
B) market segmentation 
C) cohort effect 
D) primary metropolitan statistical area 
E) differentiated marketing
F)concentrated marketing
G)micromarketing
H)positioning map
I)VALS
J)AIO statement
K)core region
L)consumer product
M)demographic segmentation
N)Praedo's law
O)psychographic segmentation
P)geographic information systems
Q)positioning
R)geographic segmentation
S)business product
T)mass marketing

Question 4

What is family lifecycle? Why do marketers segment their markets by family lifecycle stages?

Accepted Answer

Family lifecycle is the process of famil

Question 5

Who are baby boomers? Why do marketers target this segment?

Accepted Answer

Baby boomers are individuals born betwee

Question 6

A company that chooses to focus its efforts on satisfying only one market segment for profit is using a(n)_____ strategy.

Accepted Answer

A)  niche marketing 
B)  societal marketing 
C)  undifferentiated marketing 
D)  mass marketing 
A)  niche marketing 
B)  societal marketing 
C)  undifferentiated marketing 
D)  mass marketing

Question 7

Placing a product at a certain point or location within a market in the minds of prospective buyers is known as market mapping.

Accepted Answer

A) True 
 B)False

Question 8

Psychographic segmentation is the most common method of market segmentation.

Accepted Answer

A) True 
 B)False

Question 9

A company that practices differentiated marketing can generate more sales compared to those generated by undifferentiated marketing.

Accepted Answer

A) True 
 B)False

Question 10

Differentiate between a consumer product and a business product.Give examples.

Accepted Answer

Consumer products are products bought by

Question 11

Socioeconomic market segmentation is another name for _____ segmentation.

Accepted Answer

A)  product-related 
B)  demographic 
C)  psychographic 
D)  geographic 
A)  product-related 
B)  demographic 
C)  psychographic 
D)  geographic

Question 12

American Express,a large firm with many financial products,recently introduced two new credit cards designed for very specific markets: The Knot,for engaged couples,and The Nest,for newlyweds.This is an example of _____ marketing.

Accepted Answer

A)  undifferentiated 
B)  concentrated 
C)  mass 
D)  societal 
A)  undifferentiated 
B)  concentrated 
C)  mass 
D)  societal

Question 13

A metropolitan statistical area (MSA)is a freestanding urban area with a population in the urban center of at least 50,000 and a total MSA population of 100,000 or more.

Accepted Answer

A) True 
 B)False

Question 14

The four basic determinants of a market-specific segmentation strategy include company resources,competitors' strategies,stage in the product lifecycle,and:

Accepted Answer

A)  product demand. 
B)  product homogeneity. 
C)  environmental constraints. 
D)  organizational efficiencies. 
A)  product demand. 
B)  product homogeneity. 
C)  environmental constraints. 
D)  organizational efficiencies.

Question 15

Which of the following factors falls under the resource dimension of the VALS system?

Accepted Answer

A)  Social attitudes 
B)  Primary motivation 
C)  Eagerness to buy 
D)  Political views 
A)  Social attitudes 
B)  Primary motivation 
C)  Eagerness to buy 
D)  Political views

Question 16

The revised VALS system categorizes consumers by their occupations.

Accepted Answer

A) True 
 B)False

Question 17

A product that is purchased for personal use by an ultimate consumer is called a(n)_____.

Accepted Answer

A) target market 
B) market segmentation 
C) cohort effect 
D) primary metropolitan statistical area 
E) differentiated marketing
F)concentrated marketing
G)micromarketing
H)positioning map
I)VALS
J)AIO statement
K)core region
L)consumer product
M)demographic segmentation
N)Praedo's law
O)psychographic segmentation
P)geographic information systems
Q)positioning
R)geographic segmentation
S)business product
T)mass marketing 
A) target market 
B) market segmentation 
C) cohort effect 
D) primary metropolitan statistical area 
E) differentiated marketing
F)concentrated marketing
G)micromarketing
H)positioning map
I)VALS
J)AIO statement
K)core region
L)consumer product
M)demographic segmentation
N)Praedo's law
O)psychographic segmentation
P)geographic information systems
Q)positioning
R)geographic segmentation
S)business product
T)mass marketing

Question 18

Core regions are locations where marketers get majority of their sales.

Accepted Answer

A) True 
 B)False

Question 19

Business products contribute directly or indirectly to the production of other goods and services for resale.

Accepted Answer

A) True 
 B)False

Question 20

Segmentation by benefits sought is a product-related segmentation approach that:

Accepted Answer

A)  determines the marketer's effectiveness in satisfying the consumer. 
B)  measures brand loyalty and consumer perception. 
C)  re-evaluates customer reactions post-consumption. 
D)  focuses on the attributes that people seek in a product. 
A)  determines the marketer's effectiveness in satisfying the consumer. 
B)  measures brand loyalty and consumer perception. 
C)  re-evaluates customer reactions post-consumption. 
D)  focuses on the attributes that people seek in a product.

Exam 9: Market Segmentation, Targeting, and Positioning

Not-for-profit organizations practice market segmentation.

The group born between 1968 and 1979,now generally in their early 30s to early 40s are referred to as Generation Y.

The practice of dividing an overall market into homogeneous groups based on the location is called _____.

What is family lifecycle? Why do marketers segment their markets by family lifecycle stages?

Who are baby boomers? Why do marketers target this segment?

A company that chooses to focus its efforts on satisfying only one market segment for profit is using a(n)_____ strategy.

Placing a product at a certain point or location within a market in the minds of prospective buyers is known as market mapping.

Psychographic segmentation is the most common method of market segmentation.

A company that practices differentiated marketing can generate more sales compared to those generated by undifferentiated marketing.

Differentiate between a consumer product and a business product.Give examples.

Socioeconomic market segmentation is another name for _____ segmentation.

American Express,a large firm with many financial products,recently introduced two new credit cards designed for very specific markets: The Knot,for engaged couples,and The Nest,for newlyweds.This is an example of _____ marketing.

A metropolitan statistical area (MSA)is a freestanding urban area with a population in the urban center of at least 50,000 and a total MSA population of 100,000 or more.

The four basic determinants of a market-specific segmentation strategy include company resources,competitors' strategies,stage in the product lifecycle,and:

Which of the following factors falls under the resource dimension of the VALS system?

The revised VALS system categorizes consumers by their occupations.

A product that is purchased for personal use by an ultimate consumer is called a(n)_____.

Core regions are locations where marketers get majority of their sales.

Business products contribute directly or indirectly to the production of other goods and services for resale.

Segmentation by benefits sought is a product-related segmentation approach that:

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