Question 1

________ are the most fashion-conscious of all racial and ethnic groups and are more likely to be influenced by their children when selecting a product for purchase, and less likely to be influenced by unfamiliar brands.

Accepted Answer

A)  Hispanic Americans 
B)  Asian Americans 
C)  African Americans 
D)  LGBT customers 
E)  American Indians

Question 2

Situational factor segmentation variables in the business marketplace include urgency, specific application, and size of order.

Accepted Answer

A) True 
 B)False

Question 3

With respect to loyalty status, if a consumer is loyal to two or three brands, he or she is called shifting loyal.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following statements about market segmentation is true?

Accepted Answer

A)  It involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market. 
B)  It is a process of evaluating each segment's attractiveness and selecting one or more to enter. 
C)  It is a process of creating an image or identity of the product in the minds of the target market. 
D)  It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants. 
E)  It is the quality of how marketers go to market with the goal of optimizing their spending to achieve good results.

Question 5

In the ________ step of the market segmentation process, the marketer evaluates the segment using criteria such as market growth and market access.

Accepted Answer

A)  need-based segmentation 
B)  segment identification 
C)  segment attractiveness 
D)  segment profitability 
E)  segment "acid test"

Question 6

Briefly describe single-segment concentration with an example.

Accepted Answer

The answer of Briefly describe single-segment concentration with an example....

Question 7

Heavy users of a particular product are often a small percentage of the market but account for a high percentage of total consumption.

Accepted Answer

A) True 
 B)False

Question 8

List the three premises on which Anderson's long tail theory is based and the two aspects of Internet shopping that support these premises.

Accepted Answer

The answer of List the three premises on which Anderson's...

Question 9

According to the ________ criterion for useful market segments, a segment should be the largest possible homogenous group worth going after with a tailored marketing program.

Accepted Answer

A)  measurable 
B)  substantial 
C)  accessible 
D)  differentiable 
E)  actionable

Question 10

Members of the same generational cohort share the same major cultural, political, and economic experiences and have similar outlooks and values.

Accepted Answer

A) True 
 B)False

Question 11

Robert is the owner of an automobile manufacturing company. He calls for a board meeting and tells his directors that he wants to build a car that lets the users experience power and exhilaration. He tells them that the car must allow his users to soar from 0-60 mph in about 4 seconds. He also adds in that the price of the car must be affordable enough for anybody making a good salary. In accordance with the given scenario, Robert is trying to segment the market on the basis of ________.

Accepted Answer

A)  occupation 
B)  family size 
C)  benefits 
D)  nationality 
E)  user status

Question 12

Baby boomers are consumers who have been "wired" almost from birth - playing computer games, navigating the Web, downloading music, connecting with friends via instant messaging and mobile phones.

Accepted Answer

A) True 
 B)False

Question 13

Urgency, specific application, and size of order are examples of ________ segmentation variables for business markets.

Accepted Answer

A)  situational factors 
B)  demographic 
C)  purchasing approaches 
D)  personal characteristics 
E)  operating variables

Question 14

A flexible market offering consists of two parts. Identify and describe these two parts.

Accepted Answer

The answer of A flexible market offering consists of two...

Question 15

If a marketer is seeking to segment a business market, which of the following variables is generally felt to be the most important?

Accepted Answer

A)  personal characteristics 
B)  demographic variables 
C)  situational factors 
D)  operating variables 
E)  purchasing approaches

Question 16

As part of an antismoking crusade, the American Legacy Foundation hires teens as the "Truth Squad" to hand out T-shirts, bandanas, and dog tags at teen-targeted events. The American Legacy Foundation is using ________ to reach Generation Y.

Accepted Answer

A)  computer games 
B)  street teams 
C)  unconventional sports 
D)  online buzz 
E)  videos

Question 17

Income always predicts the best customers for a given product.

Accepted Answer

A) True 
 B)False

Question 18

When consumers use Tide TOTALCARE laundry detergent, which is used by consumers who want to obtain dry-cleaning type results at home, it is an example of ________, or switching spending from one category to another while preserving a desired experience.

Accepted Answer

A)  trading up 
B)  trading down 
C)  trading over 
D)  being trapped in the middle 
E)  treasure hunting

Question 19

If a buyer is loyal to two or three different brands of soap, this buyer's loyalty status can be described as being among the ________.

Accepted Answer

A)  switchers 
B)  shifting loyals 
C)  split loyals 
D)  hard-core loyals 
E)  antiloyals

Question 20

________ are products such as Kiehl's skin care and Kendall-Jackson wines that are priced between average middle-market and superpremium Old Luxury brands and are also based on emotions.

Accepted Answer

A)  Old Luxury brand extensions 
B)  Accessible superpremium products 
C)  Luxury items 
D)  Hourglass products 
E)  Masstige goods

Exam 9: Identifying Market Segments and Targets

________ are the most fashion-conscious of all racial and ethnic groups and are more likely to be influenced by their children when selecting a product for purchase, and less likely to be influenced by unfamiliar brands.

Situational factor segmentation variables in the business marketplace include urgency, specific application, and size of order.

With respect to loyalty status, if a consumer is loyal to two or three brands, he or she is called shifting loyal.

Which of the following statements about market segmentation is true?

In the ________ step of the market segmentation process, the marketer evaluates the segment using criteria such as market growth and market access.

Briefly describe single-segment concentration with an example.

Heavy users of a particular product are often a small percentage of the market but account for a high percentage of total consumption.

List the three premises on which Anderson's long tail theory is based and the two aspects of Internet shopping that support these premises.

According to the ________ criterion for useful market segments, a segment should be the largest possible homogenous group worth going after with a tailored marketing program.

Members of the same generational cohort share the same major cultural, political, and economic experiences and have similar outlooks and values.

Baby boomers are consumers who have been "wired" almost from birth - playing computer games, navigating the Web, downloading music, connecting with friends via instant messaging and mobile phones.

Urgency, specific application, and size of order are examples of ________ segmentation variables for business markets.

A flexible market offering consists of two parts. Identify and describe these two parts.

If a marketer is seeking to segment a business market, which of the following variables is generally felt to be the most important?

As part of an antismoking crusade, the American Legacy Foundation hires teens as the "Truth Squad" to hand out T-shirts, bandanas, and dog tags at teen-targeted events. The American Legacy Foundation is using ________ to reach Generation Y.

Income always predicts the best customers for a given product.

When consumers use Tide TOTALCARE laundry detergent, which is used by consumers who want to obtain dry-cleaning type results at home, it is an example of ________, or switching spending from one category to another while preserving a desired experience.

If a buyer is loyal to two or three different brands of soap, this buyer's loyalty status can be described as being among the ________.

________ are products such as Kiehl's skin care and Kendall-Jackson wines that are priced between average middle-market and superpremium Old Luxury brands and are also based on emotions.