Exam 6: Target Markets Segmentation and Evaluation

Frito-Lay Snack Foods is currently conducting market segmentation studies. For several segments, they have completed competitive assessments and cost estimates. The next major step they must take is to

​Which of the following statements about market segment profiles is true?

​The target market selection process involves _______ steps. The first step is ____________, and the last step is _____________.

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

Demographic characteristics are commonly used to segment a market because they are closely related to consumers' product needs and purchasing behavior.

The undifferentiated targeting strategy for finding a target market will likely not be successful if

If Morton Salt saw all table salt customers as pretty much alike and thus offered only one marketing mix, it would be using the ____ strategy.

When a firm's management is making the final selection of specific target markets to enter, it should consider whether the organization has the financial resources, managerial skills, expertise, and facilities needed to effectively compete in the selected segments.

Trend analysis is a sales forecasting technique that focuses on aggregate sales data over a period of many years to determine general trends in annual sales.

The total volume of a product, for all firms in an industry, that would be purchased by specific customer groups within a specified time period at a given level of industry-wide marketing activity, is the

Subaru is producing a new seven-passenger van with all-wheel drive. Which of the following would be the best variables for segmenting the market for this new model?

Which of the following statements about the undifferentiated targeting strategy is false?

Through marketing newsprint to newspaper publishers and glass manufacturers that use it in packing, International Paper segments its market based on

The producers of C & H Cane Sugar sell the product in five-pound bags, one-pound bags, and one-pound boxes. When developing its advertising strategy, C & H will most likely use a(n) ____ approach in defining a target market.

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

In a customer forecasting survey, a marketer would question customers about the types and quantities of products they intend to buy during a specific time period.

When the needs of individual consumers in a target market for a specific product are similar and the organization can satisfy most customers with a single marketing mix, the best approach to use may be the ____ strategy.

A market is a group of people who, as individuals, have needs for products in a product class and have the ability, willingness, and authority to purchase such products.

The five-step process usually used for target market selection includes identifying the appropriate targeting strategy, determining which segmentation variables to use, developing market segment profiles, evaluating relevant market segments, and deciding which targeting strategy to use.

Which of the following forecasting methods is least dependent on historical sales data?