Question 1

Market segmentation attempts to isolate traits that distinguish a certain group of consumers from the overall market.

Accepted Answer

A) True 
 B)False

Question 2

AIO statements describe which of the following?

Accepted Answer

A) Age, interests, and opinions 
B) Activities, interests, and opinions 
C) Activities, interpersonal relationships, and opinions 
D) Aptitude, intelligence, and opinions 
A) Age, interests, and opinions 
B) Activities, interests, and opinions 
C) Activities, interpersonal relationships, and opinions 
D) Aptitude, intelligence, and opinions

Question 3

Which of the following is a basic requirement for effective market segmentation?

Accepted Answer

A) The firm must avoid focusing on consumer-dependent variable, such as discretionary income, while conducting market segmentation. 
B) The market segment must present measurable purchasing power and size. 
C) The company must expand beyond its marketing capabilities to capture those market segments that have reached the maturity stage in the product life cycle. 
D) The company must target a large number of small market segments so that they can develop effective strategies to appeal to them. 
A) The firm must avoid focusing on consumer-dependent variable, such as discretionary income, while conducting market segmentation. 
B) The market segment must present measurable purchasing power and size. 
C) The company must expand beyond its marketing capabilities to capture those market segments that have reached the maturity stage in the product life cycle. 
D) The company must target a large number of small market segments so that they can develop effective strategies to appeal to them.

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Match each item with the correct statement below.
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.Pareto's law
o.psychographic segmentation
p.geographic information systems
q.positioning
r.geographic segmentation
s.business product
t.mass marketing
-The tendency of members of a generation with common characteristics to be influenced and bound together by significant events occurring during their key formative years is called the _____.

Accepted Answer

The answer of Match each item with the correct statement...

Question 6

Firms can reposition their already successful products in order to gain a greater market share.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

Family lifecycle is the process of famil

Question 8

A firm that divides its customers into homogeneous groups based on their locations is said to be practicing _____ segmentation.

Accepted Answer

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

Question 9

Progresso Soup has a line of hearty soups that are promoted to all consumers using a single marketing mix.The company is utilizing ______ marketing.​

Accepted Answer

A) ​undifferentiated 
B) ​differentiated 
C) ​concentrated 
D) holistic 
A) ​undifferentiated 
B) ​differentiated 
C) ​concentrated 
D) holistic

Question 10

Consolidated metropolitan statistical areas (CMSA)are limited to the same state,making it difficult for marketers to tap into similar product-use patterns among populations in neighboring states.

Accepted Answer

A) True 
 B)False

Question 11

Match each item with the correct statement below.
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.Pareto's law
o.psychographic segmentation
p.geographic information systems
q.positioning
r.geographic segmentation
s.business product
t.mass marketing
-_____ defines consumer groups according to variables such as gender,age,income,occupation,and stage in the family lifecycle.

Accepted Answer

The answer of Match each item with the correct statement...

Question 12

Using AIO statements allows marketing researchers to develop lifestyle profiles.

Accepted Answer

A) True 
 B)False

Question 13

Raw silk is an example of a consumer product.

Accepted Answer

A) True 
 B)False

Question 14

Products bought by ultimate customers for personal use are known as consumer products.

Accepted Answer

A) True 
 B)False

Question 15

Dividing an overall market into homogeneous groups based on gender and age would constitute demographic segmentation.

Accepted Answer

A) True 
 B)False

Question 16

In your regular goods and services consumption activities,you purchase products from the wholesaler for resale and for use in your store's daily operations.You also purchase products that you will feature in the gift baskets you make.On the basis of this information,which of the following best describes the market component you are part of?​

Accepted Answer

A) ​professional 
B) ​business 
C) ​consumer 
D) ​resale 
E) ​manufacturing 
A) ​professional 
B) ​business 
C) ​consumer 
D) ​resale 
E) ​manufacturing

Question 17

Market segmenting by demographics,also called socioeconomic segmentation,is the most common method of defining consumer groups.Select the best definition for market segmentation by demographics from the choices below.​

Accepted Answer

A) ​defining consumer groups based on variables including income and residence in an urban area 
B) ​defining consumer groups based on variables including brand loyalty, income, and gender 
C) ​defining consumer groups based on variables including income and residence in a suburban area 
D) ​defining consumer groups based on variables including income, age, ethnicity, and occupation 
E) ​defining consumer groups based on variables including age, ethnicity, and brand loyalty 
A) ​defining consumer groups based on variables including income and residence in an urban area 
B) ​defining consumer groups based on variables including brand loyalty, income, and gender 
C) ​defining consumer groups based on variables including income and residence in a suburban area 
D) ​defining consumer groups based on variables including income, age, ethnicity, and occupation 
E) ​defining consumer groups based on variables including age, ethnicity, and brand loyalty

Question 18

According to the VALS framework,achievement-motivated consumers are influenced by:

Accepted Answer

A) symbols of success. 
B) energy levels. 
C) adventure travel. 
D) fun seekers 
A) symbols of success. 
B) energy levels. 
C) adventure travel. 
D) fun seekers

Question 19

Explain the VALS segmentation system.

Accepted Answer

VALS,an acronym for VAlues and LifeStyle

Question 20

_____ are goods and services purchased for use either directly or indirectly in the production of other goods and services for resale.

Accepted Answer

A) Impulse goods 
B) Shopping goods 
C) Business products 
D) Unsought products 
A) Impulse goods 
B) Shopping goods 
C) Business products 
D) Unsought products

Market segmentation attempts to isolate traits that distinguish a certain group of consumers from the overall market.

AIO statements describe which of the following?

Which of the following is a basic requirement for effective market segmentation?

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

Firms can reposition their already successful products in order to gain a greater market share.

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

A firm that divides its customers into homogeneous groups based on their locations is said to be practicing _____ segmentation.

Progresso Soup has a line of hearty soups that are promoted to all consumers using a single marketing mix.The company is utilizing ______ marketing.

Consolidated metropolitan statistical areas (CMSA)are limited to the same state,making it difficult for marketers to tap into similar product-use patterns among populations in neighboring states.

Using AIO statements allows marketing researchers to develop lifestyle profiles.

Raw silk is an example of a consumer product.

Products bought by ultimate customers for personal use are known as consumer products.

Dividing an overall market into homogeneous groups based on gender and age would constitute demographic segmentation.

Market segmenting by demographics,also called socioeconomic segmentation,is the most common method of defining consumer groups.Select the best definition for market segmentation by demographics from the choices below.

According to the VALS framework,achievement-motivated consumers are influenced by:

Explain the VALS segmentation system.

_____ are goods and services purchased for use either directly or indirectly in the production of other goods and services for resale.

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-To-Business B2bmarketing

Global Marketing

Marketing Research in the Era of Big Data

Relationship Marketing and Customer Relationship Management Crm

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, wholesalers, and Direct Marketers

Integrated Marketing Communications, advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Exam 9: Market Segmentation, targeting, and Positioning

Market segmentation attempts to isolate traits that distinguish a certain group of consumers from the overall market.

AIO statements describe which of the following?

Which of the following is a basic requirement for effective market segmentation?

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

Firms can reposition their already successful products in order to gain a greater market share.

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

A firm that divides its customers into homogeneous groups based on their locations is said to be practicing _____ segmentation.

Progresso Soup has a line of hearty soups that are promoted to all consumers using a single marketing mix.The company is utilizing ______ marketing.​

Consolidated metropolitan statistical areas (CMSA)are limited to the same state,making it difficult for marketers to tap into similar product-use patterns among populations in neighboring states.

Using AIO statements allows marketing researchers to develop lifestyle profiles.

Raw silk is an example of a consumer product.

Products bought by ultimate customers for personal use are known as consumer products.

Dividing an overall market into homogeneous groups based on gender and age would constitute demographic segmentation.

Market segmenting by demographics,also called socioeconomic segmentation,is the most common method of defining consumer groups.Select the best definition for market segmentation by demographics from the choices below.​

According to the VALS framework,achievement-motivated consumers are influenced by:

Explain the VALS segmentation system.

_____ are goods and services purchased for use either directly or indirectly in the production of other goods and services for resale.

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-To-Business B2bmarketing

Global Marketing

Marketing Research in the Era of Big Data

Relationship Marketing and Customer Relationship Management Crm

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, wholesalers, and Direct Marketers

Integrated Marketing Communications, advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Progresso Soup has a line of hearty soups that are promoted to all consumers using a single marketing mix.The company is utilizing ______ marketing.

Market segmenting by demographics,also called socioeconomic segmentation,is the most common method of defining consumer groups.Select the best definition for market segmentation by demographics from the choices below.