Exam 5: Selecting Target Markets

The ProMark Company manufactures and sells only one type of ballpoint pen at just one price.All its advertising is the same and is directed at the mass market.What type of targeting strategy is the ProMark Company using?

Effective product positioning helps serve the total market by creating a concept that appeals to the general public.

Systems such as PRIZM and Acorn provide companies with lifestyle and demographic information about neighborhoods throughout the United States.This information is used to aid

When evaluating market segments,assessment of competitors is important because

The size of the market potential places limits on the size of the company sales potential.

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

Kelly's Kids is a home-based business that sells high-quality children's clothing at premium prices using in-home parties.These in-home parties typically cater to families with small children and middle- to upper-middle-class income.Kelly's Kids is using ____ variables to segment its market.

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

Which of the following products is least likely to be segmented according to stages in the family life cycle?

What are the major steps of the target market selection process?

Several conditions must exist for market segmentation to be successful.These conditions include all of the following except

The most important reason that a firm might use a sales force forecasting survey to determine its sales forecast is

The executive judgment method of sales forecasting is very accurate in predicting future sales.

Positioning a product to avoid competition may be best when the

Demographic variables such as income and occupation,as well as how people spend their time and the importance of things in their surroundings,are all factors considered in ____ segmentation.

In order to be considered a market,people do not have to have

Family life cycle is most typically based on

In an effort to forecast his firm's sales for the coming year,Henry Thompson takes sales for the last three years and calculates a growth trend.Henry is employing which forecasting method?

Retail-site location analyses,unique product offerings,and special advertising campaigns are all examples of the use of

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