Question 1

A segmentation plan must produce segments that exhibit responsiveness,which means all segments response similarly to a marketing mix.

Accepted Answer

A) True 
 B)False

Question 2

What is a market segment? Define market segmentation and discuss why market segmentation is important to the well-being of most companies.

Accepted Answer

A market segment is a subgroup of people

Question 3

Which of the following statements best describes the reason marketers find geodemographic segmentation so effective?

Accepted Answer

A)  A bird in the hand is worth two in the bush. 
B)  Every action has an opposite and equal reaction. 
C)  A rifle is more exact than a shotgun. 
D)  Don't put all of your eggs in one basket. 
E)  Birds of a feather flock together. 
A)  A bird in the hand is worth two in the bush. 
B)  Every action has an opposite and equal reaction. 
C)  A rifle is more exact than a shotgun. 
D)  Don't put all of your eggs in one basket. 
E)  Birds of a feather flock together.

Question 4

Product differentiation is a positioning strategy.

Accepted Answer

A) True 
 B)False

Question 5

Tower Fasteners developed a commanding position in the fastener industry by having in stock over 150,000 different types of fasteners.Tower's primary market is defined as companies with a need for specialized fasteners.All of the following are characteristics of the buying organization that Tower can use for segmentation EXCEPT:

Accepted Answer

A)  psychographic variables 
B)  the method the company uses to make purchases 
C)  geographic location 
D)  personal characteristics of purchase decision makers 
E)  company size 
A)  psychographic variables 
B)  the method the company uses to make purchases 
C)  geographic location 
D)  personal characteristics of purchase decision makers 
E)  company size

Question 6

Fisher-Price is identifying Asian markets that are interested in their line of talking toys.Fisher-Price is engaged in the process of market segmentation.

Accepted Answer

A) True 
 B)False

Question 7

All of the following are steps in the market segmenting process EXCEPT:

Accepted Answer

A)  determine the objectives of the segmentation strategy 
B)  profile and analyze segments 
C)  design, implement, and maintain appropriate marketing mixes 
D)  select a market or product category for study 
E)  choose a basis or bases for segmenting the market 
A)  determine the objectives of the segmentation strategy 
B)  profile and analyze segments 
C)  design, implement, and maintain appropriate marketing mixes 
D)  select a market or product category for study 
E)  choose a basis or bases for segmenting the market

Question 8

Train collectors Jack McCoy and Sandro Dias have decided to open a store that sells train memorabilia--everything from toy train sets to full-sized railroad signs.After 18 months in business,they have noticed most of their sales are to the same small group of customers (about 40 people)even though they have records to show there are over 200 active train collectors within a 50-mile radius of their store.Their retailing experience is supportive of the:

Accepted Answer

A)  optimizer principle 
B)  min-max rule 
C)  majority fallacy 
D)  rule of demand 
E)  80/20 principle 
A)  optimizer principle 
B)  min-max rule 
C)  majority fallacy 
D)  rule of demand 
E)  80/20 principle

A segmentation plan must produce segments that exhibit responsiveness,which means all segments response similarly to a marketing mix.

What is a market segment? Define market segmentation and discuss why market segmentation is important to the well-being of most companies.

Which of the following statements best describes the reason marketers find geodemographic segmentation so effective?

Product differentiation is a positioning strategy.

Fisher-Price is identifying Asian markets that are interested in their line of talking toys.Fisher-Price is engaged in the process of market segmentation.

All of the following are steps in the market segmenting process EXCEPT:

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics & Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Decision Support Systems and Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Marketing Channels

Supply Chain Management

Retailing

Promotional Planning for Competitive Advantage

Advertising and Public Relations

Sales Promotion and Personal Selling

Pricing Concepts

Setting the Right Price

Customer Relationship Management (CRM)

Filters

Exam 8: Segmenting and Targeting Markets

A segmentation plan must produce segments that exhibit responsiveness,which means all segments response similarly to a marketing mix.

What is a market segment? Define market segmentation and discuss why market segmentation is important to the well-being of most companies.

Which of the following statements best describes the reason marketers find geodemographic segmentation so effective?

Product differentiation is a positioning strategy.

Fisher-Price is identifying Asian markets that are interested in their line of talking toys.Fisher-Price is engaged in the process of market segmentation.

All of the following are steps in the market segmenting process EXCEPT:

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics & Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Decision Support Systems and Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Marketing Channels

Supply Chain Management

Retailing

Promotional Planning for Competitive Advantage

Advertising and Public Relations

Sales Promotion and Personal Selling

Pricing Concepts

Setting the Right Price

Customer Relationship Management (CRM)

Filters