Question 1

A _____ is a group of people or organizations that has wants and needs that can be satisfied by particular product categories,has the ability to purchase these products,and is willing to exchange resources for the products.

Accepted Answer

A)  firm 
B)  buyer 
C)  market 
D)  consumer 
E)  target.

Question 2

Which criterion of useable market segments means the firm must be able to reach members of targeted segments with customized marketing mixes?

Accepted Answer

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

Question 3

Define cannibalization.Is it always bad? Explain.

Accepted Answer

The answer of Define cannibalization.Is it always bad? Explain....

Question 4

Mercedes-Benz
Daimler AG, the maker of Mercedes-Benz automobiles, is planning to launch a new line of downsized luxury vehicles in the United States by 2012. Daimler has experienced a recent drop in global sales attributed to its product mix that focuses on larger luxury automobiles. With increasing fuel prices and stricter U.S. fuel-economy standards coming down the pipeline, Daimler doesn't want to be left behind. Daimler is behind its competition, though. Its German rivals, Audi and BMW, have been relatively successful in the U.S. BMW"s Mini Cooper, demanding as much as $34,000, has already driven away with some of Daimler's potential sales. While Daimler already offers the Smart car in the U.S., the new offerings will not be going after the same consumers.
-Refer to Mercedes-Benz.Baby boomers have money to burn and will be the primary target for the downsized,luxury vehicles offered by Mercedes. Many of them will want this type of car to feel young again. This group is considered a _____.

Accepted Answer

A)  consumer advocacy group 
B)  income ready group 
C)  market 
D)  population 
E)  market maven

Question 5

Stouffer's offers gourmet entrees for one segment of the frozen dinner market and Lean Cuisine for another segment that wants both good taste and low calories.When Stouffer's chose to serve two well-defined market segments and develop distinct marketing mixes for each,it was implementing a(n)_____ strategy.

Accepted Answer

A)  market integration 
B)  concentrated targeting 
C)  undifferentiated targeting 
D)  multisegment targeting 
E)  heterogeneous positioning

Question 6

General Mills offers a deal where its cereal users can collect box tops and submit them to General Mills to earn money for their children's schools.This program,called the Box Tops for Education Program,is a means of changing light users into heavier users.In other words,it is a form of _____ segmentation.

Accepted Answer

A)  lifestyle 
B)  motive 
C)  usage-rate 
D)  demographic 
E)  personality

Question 7

_____ 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 8

When a firm serves two or more well-defined market segments with a distinct marketing mix for each,it is using a(n)_____ targeting strategy.

Accepted Answer

A)  undifferentiated 
B)  concentrated 
C)  niche 
D)  multisegment 
E)  pluralistic

Question 9

The Hispanic American market is best treated as a single segment.

Accepted Answer

A) True 
 B)False

Question 10

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 11

Almost all cell phones sold in the United States sold are black or gray.Almost all cell phones sold in Europe are colorful,and very few black phones are sold.A cell phone manufacturer knowing this information could use _____ segmentation when selling its phones internationally.

Accepted Answer

A)  geographic 
B)  economic 
C)  demographic 
D)  benefit 
E)  multi-positioning

Question 12

The business market consists of four broad segments: producers,resellers,governments,and regions.

Accepted Answer

A) True 
 B)False

Question 13

A manufacturer of lenses used in microscopes,binoculars,and telescopes has segmented its market into scientific equipment manufacturers,sporting equipment manufacturers,and retailers who sell replacement lenses.In order for this segmentation scheme to be successful,all of the following criteria must be met EXCEPT:

Accepted Answer

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

Question 14

_____ is the process of dividing a market into meaningful groups that are relatively similar and identifiable.

Accepted Answer

A)  Perceptual mapping 
B)  Positioning 
C)  Micromarketing 
D)  Market sampling 
E)  Market segmentation

Question 15

The process of market segmentation involves breaking down a heterogeneous market into homogeneous and identifiable segments.If this process is carried to its extreme,then one could say that:

Accepted Answer

A)  this is the reason segmentation cannot be used by small firms 
B)  all individuals have the same needs in spite of cultural differences 
C)  everyone belongs to the same segment 
D)  segmentation controls the demand for products 
E)  every individual in the world is a market segment

Question 16

Thompson Pools installs and maintains swimming pools.They group their customers according to their needs: new installs,regular maintenance,and frequent product consumers.When do they need a new segmentation analysis?

Accepted Answer

A)  Once every 20 years is about average 
B)  They should do them regularly because of the rapidly changing nature of most markets 
C)  They don't need any because consumer markets don't rapidly change and develop like business goods markets 
D)  Every year, using new bases for variety 
E)  Only when the market changes

Question 17

A(n)_____ is a subgroup of individuals or organizations sharing one or more characteristics that cause them to have relatively similar product needs.

Accepted Answer

A)  market universe 
B)  market segment 
C)  aggregated market 
D)  segmentation base 
E)  population sample

Question 18

While most marketing to Generation Y tries so hard to be hip that it borders on parody,Vans has kept the decades-old brand real and vital for Gen Yers.Marketing programs the footwear manufacturer uses to reach Gen Yers include the Vans Skate Parks,which operate in malls around the country; the wildly successful Vans Warped Tour for alternative music; and the Vans Triple Crown,the brand's answer to the X Games.The segmentation plan used by Vans relies heavily on _____ segmentation.

Accepted Answer

A)  ethnicity 
B)  income 
C)  age 
D)  gender 
E)  occupation

Question 19

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.Segmenting a market based on the fact that people who enjoy hunting typically exhibit a particular lifestyle is an example of _____ segmentation.

Accepted Answer

A)  benefit 
B)  psychographic 
C)  geographic 
D)  geodemographic 
E)  demographic

Question 20

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...

Exam 8: Segmenting and Targeting Markets

A _____ is a group of people or organizations that has wants and needs that can be satisfied by particular product categories,has the ability to purchase these products,and is willing to exchange resources for the products.

Which criterion of useable market segments means the firm must be able to reach members of targeted segments with customized marketing mixes?

Define cannibalization.Is it always bad? Explain.

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

When a firm serves two or more well-defined market segments with a distinct marketing mix for each,it is using a(n) _____ targeting strategy.

The Hispanic American market is best treated as a single segment.

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

Almost all cell phones sold in the United States sold are black or gray.Almost all cell phones sold in Europe are colorful,and very few black phones are sold.A cell phone manufacturer knowing this information could use _____ segmentation when selling its phones internationally.

The business market consists of four broad segments: producers,resellers,governments,and regions.

_____ is the process of dividing a market into meaningful groups that are relatively similar and identifiable.

The process of market segmentation involves breaking down a heterogeneous market into homogeneous and identifiable segments.If this process is carried to its extreme,then one could say that:

Thompson Pools installs and maintains swimming pools.They group their customers according to their needs: new installs,regular maintenance,and frequent product consumers.When do they need a new segmentation analysis?

A(n) _____ is a subgroup of individuals or organizations sharing one or more characteristics that cause them to have relatively similar product needs.

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