Question 1

A marketer is interested in segmenting a business market on ________ if the marketer intends to segment the market based on industries and geographical areas to serve.

Accepted Answer

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

Question 2

A segment is attractive when there are actual or potential substitutes for the product.

Accepted Answer

A) True 
 B)False

Question 3

The characteristic of useful market segments that relates to whether the segments can be effectively reached and served is whether the segment is ________.

Accepted Answer

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

Question 4

Suppose a marketer decides to segment a market based on social class, psychographic lifestyle, and readiness stage. For each type of segmentation, give at least three possible segmentation subcategories.

Accepted Answer

The answer of Suppose a marketer decides to segment a...

Question 5

In ________ marketing, the firm operates in several market segments and designs different products for each segment.

Accepted Answer

A)  individual 
B)  undifferentiated 
C)  differentiated 
D)  concentrated 
E)  niche

Question 6

To be useful, market segments must be measurable.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following statements is True about the five forces identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment?

Accepted Answer

A)  A segment is unattractive if the company's suppliers are unable to raise prices or reduce quantity supplied. 
B)  A segment is unattractive if buyers possess strong or growing bargaining power. 
C)  A segment is attractive when there are actual or potential substitutes for the product. 
D)  A segment is attractive if it already contains numerous, strong, or aggressive competitors. 
E)  The most attractive segment is one in which entry barriers are low and exit barriers are high.

Question 8

Volkswagen concentrates on the small-car market and Porsche on the sports car market. These would be examples of what is called ________.

Accepted Answer

A)  single-segment concentration 
B)  selective specialization 
C)  product specialization 
D)  market specialization 
E)  full market coverage

Question 9

The fact that Honda described its boxy Element as a "dorm room on wheels," but then attracted so many baby boomers that the average age of the Element turned out to be 42 illustrates what quality of baby boomers?

Accepted Answer

A)  being willing to pay for price for valued offerings 
B)  being turned off by overt marketing practices 
C)  being pragmatic and prizing self-sufficiency 
D)  wanting to purchase online 
E)  wanting to turn back the hands of time

Question 10

In ________ marketing, the firm ignores segment differences and goes after the whole market with one offer.

Accepted Answer

A)  niche 
B)  mass 
C)  guerrilla 
D)  segmented 
E)  differentiated

Question 11

A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can show the firm which brands are most competitive with its own.

Accepted Answer

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

Question 12

The last step in the seven-step marketing segmentation process would be to develop a marketing-mix strategy reflective of segment positioning strategies.

Accepted Answer

A) True 
 B)False

Question 13

List the five forces identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment.

Accepted Answer

The answer of List the five forces identified by Michael...

Question 14

Marketers usually identify niches by ________.

Accepted Answer

A)  dividing a segment into subsegments 
B)  conducting VALS tests 
C)  allowing consumers to gravitate toward product brands 
D)  examining the demographics section of the handbook of marketing 
E)  producing products that can be used in a variety of ways

Question 15

When marketers present flexible market offerings to all members of a business segment, their offerings consist of two parts. Which part contains the product and service elements that all segment members value?

Accepted Answer

A)  naked solution 
B)  discretionary solution 
C)  maximum solution 
D)  pseudo solution 
E)  virtual solution

Question 16

Local marketing reflects a growing trend called grassroots marketing. What are the characteristics of grassroots marketing?

Accepted Answer

The answer of Local marketing reflects a growing trend called...

Question 17

Dennis requests his father to buy him a PlayStation® for his birthday. With respect to consumer decision roles, which role is Dennis currently playing?

Accepted Answer

A)  initiator 
B)  influencer 
C)  decider 
D)  buyer 
E)  gatekeeper

Question 18

What are some examples of situational factors that can be used to segment business markets?

Accepted Answer

The answer of What are some examples of situational factors...

Question 19

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 20

All attempts to target marketing to children, minorities, or other special segments are discriminatory and unethical.

Accepted Answer

A) True 
 B)False

Exam 6: Identifying Market Segments and Targets

A marketer is interested in segmenting a business market on ________ if the marketer intends to segment the market based on industries and geographical areas to serve.

A segment is attractive when there are actual or potential substitutes for the product.

The characteristic of useful market segments that relates to whether the segments can be effectively reached and served is whether the segment is ________.

Suppose a marketer decides to segment a market based on social class, psychographic lifestyle, and readiness stage. For each type of segmentation, give at least three possible segmentation subcategories.

In ________ marketing, the firm operates in several market segments and designs different products for each segment.

To be useful, market segments must be measurable.

Which of the following statements is True about the five forces identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment?

Volkswagen concentrates on the small-car market and Porsche on the sports car market. These would be examples of what is called ________.

The fact that Honda described its boxy Element as a "dorm room on wheels," but then attracted so many baby boomers that the average age of the Element turned out to be 42 illustrates what quality of baby boomers?

In ________ marketing, the firm ignores segment differences and goes after the whole market with one offer.

A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can show the firm which brands are most competitive with its own.

The last step in the seven-step marketing segmentation process would be to develop a marketing-mix strategy reflective of segment positioning strategies.

List the five forces identified by Michael Porter that determine the intrinsic long-run attractiveness of a market or market segment.

Marketers usually identify niches by ________.

When marketers present flexible market offerings to all members of a business segment, their offerings consist of two parts. Which part contains the product and service elements that all segment members value?

Local marketing reflects a growing trend called grassroots marketing. What are the characteristics of grassroots marketing?

Dennis requests his father to buy him a PlayStation® for his birthday. With respect to consumer decision roles, which role is Dennis currently playing?

What are some examples of situational factors that can be used to segment business markets?

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

All attempts to target marketing to children, minorities, or other special segments are discriminatory and unethical.