Exam 6: Target Markets Segmentation and Evaluation

If long-term prospects look poor, a marketer may ultimately choose not to target a segment because it would be difficult to recoup expenses.

Generally speaking, individuals who are unemployed would not be considered a target market for lawn care services because

The ways in which customers use a particular product may be a basis for segmenting the market.

Jack has just joined a law firm as its purchasing agent for all supplies, equipment, and service contracts. In his previous position at another company, Jack could make decisions for any purchase up to $1 million; however, at the new law firm, he can only make decisions for purchases less than $500,000. Recently, Jack has been working with a sales representative from a computer software firm about a contract for new program to process the firm's billing statements. Jack signs the contract, even though it is for $950,000. In this case, Jack ___ part of the market for the software because _____.

If Campbell were to offer single serving "Soup for One" packages to household markets, it would be using segmentation based on

After an organization has determined which of the many segmentation variables it will use, the next step in the target market selection process is

An undifferentiated targeting strategy does not target a single market with one marketing mix.

If Baskin-Robbins calculates that it could sell up to 25 percent of all ice cream cones sold in the United States, this percentage would represent the ice cream marketer's

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

Which of the following is an example of a behavioristic segmentation variable?

A disadvantage of the concentrated targeting strategy is that

Market potential is the amount of a product that an organization could sell during a specified time period.

The sales forecasting method that consists of making a product available to buyers in one or more locations and measuring purchase response is

Smart Balance produces a line of milk products that are lactose-free. The milk comes in pint, quart, and half-gallon cartons, as well as 16-ounce glass bottles. Smart Balance sells its pint cartons to school systems, its quart and half-gallon cartons to grocery stores, and its glass bottles to vending machine operators. Smart Balance appears to use a(n) _____ strategy in marketing its product to a target market that is likely to be _______.

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

The purpose of market segmentation is to

A person who has buying power also has the authority to buy.

Scenario 6.2 Use the following to answer the questions.GE Transportation produces locomotive engines for sale in countries around the world. After looking at the total market for locomotive engines, the company found that various rail lines wanted different types of engines. Major rail lines in the U.S. and South America wanted engines to haul heavy freight. Rail lines in Sweden and Germany were interested in a cleaner, greener locomotive engine. Rail lines operated by several Eastern European countries wanted locomotive engines for running short distances between cities in their own country. GE Transportation is currently manufacturing its GE 4400 for heavy freight, its Hybrid Eco-Engine, and its Dash 9, suited for shortline transport. -Refer to Scenario 6.2. If a GE Transportation researcher analyzes monthly sales data for a four-year time frame, looking for periodic fluctuations, the researcher is doing a ____ analysis.​

When a business has a relatively small number of customers, a preferred method of forecasting is

Which of these statements is not true about business markets?