Question 1

Tall Paul's designs and sells household furniture and furnishings to people who are over 6'6" tall--a rather small target market.Tall Paul's uses a(n)_____ targeting strategy.

Accepted Answer

A)  benefit 
B)  undifferentiated 
C)  multisegment marketing 
D)  universal product code 
E)  concentrated

Question 2

June LaVista owns a health and fitness gym.After dividing her customers into four segments based on income range,age,level of fitness,and other selected segmentation descriptors,she wrote out a description of each segment's size,expected growth,frequency of exercise,and overall profit potential.Which step in segmenting a market is LaVista engaged in?

Accepted Answer

A)  profiling and analyzing her market segments 
B)  positioning her products to her market segments 
C)  targeting promotions to her market segments 
D)  differentiating her market segments 
E)  concentrating her marketing mix on the most profitable marketing segments

Question 3

_____ is the process of grouping customers into market segments according to what is sought from the product.

Accepted Answer

A)  Benefit segmentation 
B)  Value-added segmentation 
C)  Lifestyle segmentation 
D)  Macrosegmentation 
E)  Psychographic segmentation

Question 4

Sure Fit,Inc.has begun a rebranding strategy to let customers know it no longer only produces slipcovers,but now also carries a line of rugs,window treatments,and bedding.Its _____ is described as women with average annual household income of $60,000 or more.

Accepted Answer

A)  market audience 
B)  market differentiation 
C)  perceived market 
D)  target market 
E)  aggregated market

Question 5

Turkey Hunting Equipment
Around the beginning of fall each year,about 2.7 million turkey hunters all over the United States start looking at catalogs for the perfect item to guarantee that this year they will kill a wild turkey,the most elusive game bird on the North American continent.The devoted turkey stalker can stock up on everything from camouflaged turkey hunting socks,turkey license plate holders,vests with huge pockets for toting dead birds,and hunting videos to turkey decoys,turkey earrings,and turkey callers.Neil Cost is considered the best manufacturer of turkey callers in the world.It is his only product,and each is highly prized by turkey hunters.It is not unusual for a turkey hunter to pay $5,000 for one of Cost's callers.
-Refer to Turkey Hunting Equipment.Wild turkey hunters would be defined as a:

Accepted Answer

A)  market segment 
B)  market position 
C)  segmentation base 
D)  retail position 
E)  consumer position

Question 6

What is geodemographic segmentation? What is the result of geodemographic segmentation? Give one specific example that illustrates this type of segmentation.

Accepted Answer

The answer of What is geodemographic segmentation? What is the...

Question 7

You are given the following limited information about a market consisting of ten people.Describe all the possible ways to segment this market.

Accepted Answer

The answer of You are given the following limited information...

Question 8

To be useful,a segmentation scheme must produce segments that meet four basic criteria.Name and briefly describe each of these four criteria.

Accepted Answer

The answer of To be useful,a segmentation scheme must produce...

Question 9

One reason marketers use market segmentation as a tool is that once completed,the process need not be repeated.

Accepted Answer

A) True 
 B)False

Question 10

All of the following statements are reasons why consumer goods companies take a regional approach to marketing rather than a national approach EXCEPT:

Accepted Answer

A)  Many firms need to find new ways to generate sales because of sluggish and intensely competitive markets. 
B)  A regional approach gives marketing managers control over the competitive environment. 
C)  Computerized checkout stations with scanners enable retailers to assess accurately which brands sell the best in each region. 
D)  Many packaged goods manufacturers are introducing new regional brands intended to appeal to local preferences. 
E)  A more regional approach allows companies to react more quickly to competition.

Question 11

Fisher-Price is identifying Asian markets that are interested in their line of talking toys.Fisher-Price is engaged in the process of market segmentation.

Accepted Answer

A) True 
 B)False

Question 12

All of the following are criteria for successful market segmentation EXCEPT:

Accepted Answer

A)  substantiality 
B)  identifiability and measurability 
C)  accountability 
D)  accessibility 
E)  responsiveness

Question 13

Procter & Gamble markets six different brands of laundry detergent,such as Tide,ERA,Gain,and Dreft,each targeting a different market segment.This is an example of concentrated targeting.

Accepted Answer

A) True 
 B)False

Question 14

The 80/20 principle implies that the majority of all demand is due to a minority of the customers.

Accepted Answer

A) True 
 B)False

Question 15

What is a market segment? Define market segmentation and discuss why market segmentation is important to the well-being of most companies.

Accepted Answer

The answer of What is a market segment? Define market...

Question 16

A (n)_____ could help determine whether or not snacking consumers consider Kashi Tasty Little Crackers healthy and tasty in comparison to other brands..

Accepted Answer

A)  predictive modeling 
B)  perceptual map 
C)  product positioning 
D)  trend analysis 
E)  internal marketing audit

Question 17

_____ is one of the potential disadvantages associated with a multisegment strategy.

Accepted Answer

A)  Inadequate demand 
B)  Demarketing 
C)  Lower profits 
D)  Cannibalization 
E)  Loss of synergy

Question 18

Rachel is the owner of a gift shop.She understands the need to segment her market,and available marketing research indicates there is much demand in the community for personalized gifts.She has few resources and cannot engage in intensive consumer research to precisely identify a segment.Which of the following strategies would you suggest she employ?

Accepted Answer

A)  Develop an undifferentiated strategy,because it is not a large community and she could create a single marketing mix that would serve the entire community. 
B)  Employ a macrosegmentation strategy because the data needed for such a strategy are both easy to get and fit her needs exactly. 
C)  Use a single-variable strategy because it offers an inexpensive alternative that would not require much experience to employ. 
D)  Use a multiple-variable segmentation strategy because it is easier to use than single-variable segmentation. 
E)  Conduct a VALS investigation of her buying market.

Question 19

Business marketers focus on all of the following market segments EXCEPT:

Accepted Answer

A)  institutions 
B)  producers 
C)  households 
D)  resellers 
E)  governments

Question 20

Coca-Cola launched a new Black History television commercial on BET to coincide with the Martin Luther King Jr.holiday.  The ad is just one element of a strategy for connecting with African-American consumers.Coca-Cola's segmentation plan for this promotional campaign is based on _____ segmentation

Accepted Answer

A)  demographic 
B)  sociocultural attributes 
C)  psychographic 
D)  usage rate 
E)  geodemographic

Exam 8: Segmenting and Targeting Markets

Tall Paul's designs and sells household furniture and furnishings to people who are over 6'6" tall--a rather small target market.Tall Paul's uses a(n) _____ targeting strategy.

_____ is the process of grouping customers into market segments according to what is sought from the product.

Sure Fit,Inc.has begun a rebranding strategy to let customers know it no longer only produces slipcovers,but now also carries a line of rugs,window treatments,and bedding.Its _____ is described as women with average annual household income of $60,000 or more.

What is geodemographic segmentation? What is the result of geodemographic segmentation? Give one specific example that illustrates this type of segmentation.

You are given the following limited information about a market consisting of ten people.Describe all the possible ways to segment this market.

To be useful,a segmentation scheme must produce segments that meet four basic criteria.Name and briefly describe each of these four criteria.

One reason marketers use market segmentation as a tool is that once completed,the process need not be repeated.

All of the following statements are reasons why consumer goods companies take a regional approach to marketing rather than a national approach EXCEPT:

Fisher-Price is identifying Asian markets that are interested in their line of talking toys.Fisher-Price is engaged in the process of market segmentation.

All of the following are criteria for successful market segmentation EXCEPT:

Procter & Gamble markets six different brands of laundry detergent,such as Tide,ERA,Gain,and Dreft,each targeting a different market segment.This is an example of concentrated targeting.

The 80/20 principle implies that the majority of all demand is due to a minority of the customers.

What is a market segment? Define market segmentation and discuss why market segmentation is important to the well-being of most companies.

A (n) _____ could help determine whether or not snacking consumers consider Kashi Tasty Little Crackers healthy and tasty in comparison to other brands..

_____ is one of the potential disadvantages associated with a multisegment strategy.

Business marketers focus on all of the following market segments EXCEPT:

Coca-Cola launched a new Black History television commercial on BET to coincide with the Martin Luther King Jr.holiday. The ad is just one element of a strategy for connecting with African-American consumers.Coca-Cola's segmentation plan for this promotional campaign is based on _____ segmentation