Question 1

Until the 1990s,few firms practiced market segmentation.

Accepted Answer

A) True 
 B)False

Question 2

_____ 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 segmentationF) A) and E)
G) B) and E)

Question 3

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)   targetF) B) and C)
G) D) and E)

Question 4

You are given the following limited information about a market consisting of ten people.Describe all the possible ways to segment this market.
 $$\begin{array} { l l } 
\text { Gender } & \text { Income } \
\hline \text { Male } & \text { Medium } \
\text { Female } & \text { Law } \
\text { Female } & \text { Law } \
\text { Male } & \text { High } \
\text { Female } & \text { Law } \
\text { Male } & \text { Law } \
\text { Male } & \text { Medium } \
\text { Male } & \text { High } \
\text { Female } & \text { High } \
\text { Female } & \text { High }
\end{array}$$

Accepted Answer

There are five possible ways to segment ...

Question 5

Dakin Farms in Vermont uses mass marketing.Marketers would call the strategy an undifferentiated targeting strategy.

Accepted Answer

A) True 
 B)False

Question 6

List,in correct order,the steps in segmenting a market.

Accepted Answer

The four segmentation steps are:
1.Selec...

Question 7

Define cannibalization.Is it always bad? Explain.

Accepted Answer

Cannibalization occurs when sales of a n...

Question 8

Pocket-knife collector Sam Penley decided to open The Knife Depot,a store that sells pocket knives and related paraphernalia.After 18 months in business,Sam has noticed that most of his sales are to the same small group of customers (about 40 people) even though he has records to show there are over 200 active pocket-knife collectors within a 50-mile radius of his store.Sam's retailing experience is supportive of the:

Accepted Answer

A)   optimizer principle
B)   min-max rule
C)   majority fallacy
D)   rule of demand
E)   80/20 principleF) A) and E)
G) A) and D)

Question 9

Geodemographic segmentation combines geographic,demographic,and lifestyle segmentations.

Accepted Answer

A) True 
 B)False

Question 10

An individualized marketing method that utilizes customer information to build long-term,personalized,and profitable relationships with each customer is referred to as:

Accepted Answer

A)   80/20 marketing
B)   interpersonal marketing
C)   zoned marketing
D)   one-to-one marketing
E)   individual marketingF) All of the above
G) C) and E)

Question 11

Altria Group Inc.'s Phillip Morris failed at an attempt to target Americans looking for a potentially safer cigarette.This market exhibits a lack of:

Accepted Answer

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

Question 12

_____ divides individuals into groups according to the way they spend their time,the importance of items in their surroundings,their beliefs,and socioeconomic characteristics.

Accepted Answer

A)   Life-cycle segmentation
B)   Temporal segmentation
C)   Lifestyle segmentation
D)   Microsegmentation
E)   MacrosegmentationF) B) and E)
G) None of the above

Question 13

One negative associated with the growth of one-to-one marketing is:

Accepted Answer

A)   loss of customer loyalty toward firms that practice one-to-one marketing
B)   customer unease at being treated "like a number," not an individual
C)   a growing concern about consumer privacy because of data mining
D)   an across-the-bard homogenization of products and services
E)   the increasing amount of time consumers must take making purchasing decisionsF) A) and B)
G) A) and C)

Question 14

After selecting a market for study and choosing bases for segmenting that market,marketer must select the segmentation _____,which identify the specific segmentation variables to use.

Accepted Answer

A)   descriptors
B)   matrices
C)   narratives
D)   variations
E)   networksF) All of the above
G) B) and E)

Question 15

The Southern Company is the largest provider of utilities in the southeastern United States.It has also been accused of being the biggest source of industrial air pollution in the area.The Southern Company is trying to change consumers' perceptions of the company by sponsoring a series of television programs on how to preserve our environment.The Southern Company is hoping the programming will lead to:

Accepted Answer

A)   repositioning
B)   reengineering
C)   demarketing
D)   undifferentiated targeting
E)   one-to-one marketingF) C) and D)
G) B) and E)

Question 16

Chandler Kumar owns two antique stores.One is in an upscale neighborhood,and its merchandise is artfully arranged and priced to indicate product rarity.The other is in a run-down strip mall and contains some of the same type of merchandise,but the items are left in open boxes and placed haphazardly on shelves.Customers of either store have entirely different perceptions of the stores and would be surprised to know Kumar operates each of them because he uses such differing _____ strategies.

Accepted Answer

A)   market integration
B)   segmentation
C)   targeting
D)   positioning
E)   market combinationF) All of the above
G) D) and E)

Question 17

Marketers are rediscovering that the "one-size-fits-all" approach to marketing is still relevant.

Accepted Answer

A) True 
 B)False

Question 18

All of the following have been identified as trends that will lead to the continuing growth of one-to-one marketing EXCEPT:

Accepted Answer

A)   the growing number of customers who do not have time to spend shopping
B)   the fact consumers do not want to be treated like the masses
C)   technology that allows the collection of detailed information on customers
D)   consumers are loyal to companies and brands that have earned their loyalty and reinforce it at every purchase occasion
E)   mass marketing is no longer appropriate,especially for consumer packaged-goods productsF) A) and E)
G) B) and C)

Question 19

What is product differentiation and how can it be achieved?

Accepted Answer

Product differentiation distinguishes on...

Question 20

Which of the following is NOT an example of product differentiation?

Accepted Answer

A)   An organic produce store claims its fruits and vegetables are pesticide-free and more healthful than produce found in big supermarkets
B)   A soda company touts its product as being "fresher and lighter" than other sodas
C)   A pain medication advertises a special ingredient that is especially effective against migraine headaches
D)   A margarine company creates ads claiming that its product tastes "just like butter"
E)   All of the above are examples of product differentiationF) All of the above
G) D) and E)

Exam 8: Segmenting and Targeting Markets

Until the 1990s,few firms practiced market segmentation.

Correct Answer
verified

What is product differentiation and how can it be achieved?

Correct Answer
verified
Product differentiation distinguishes on...
View Answer

List,in correct order,the steps in segmenting a market.

Correct Answer
verified
The four segmentation steps are:
1.Selec...
View Answer

Marketers are rediscovering that the "one-size-fits-all" approach to marketing is still relevant.

Correct Answer
verified

Correct Answer
verified

Which of the following is NOT an example of product differentiation?

Correct Answer
verified

Altria Group Inc.'s Phillip Morris failed at an attempt to target Americans looking for a potentially safer cigarette.This market exhibits a lack of:

Correct Answer
verified

One negative associated with the growth of one-to-one marketing is:

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
There are five possible ways to segment ...
View Answer

Geodemographic segmentation combines geographic,demographic,and lifestyle segmentations.

Correct Answer
verified

All of the following have been identified as trends that will lead to the continuing growth of one-to-one marketing EXCEPT:

Correct Answer
verified

Dakin Farms in Vermont uses mass marketing.Marketers would call the strategy an undifferentiated targeting strategy.

Correct Answer
verified

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.

Correct Answer
verified

An individualized marketing method that utilizes customer information to build long-term,personalized,and profitable relationships with each customer is referred to as:

Correct Answer
verified

After selecting a market for study and choosing bases for segmenting that market,marketer must select the segmentation _____,which identify the specific segmentation variables to use.

Correct Answer
verified

Define cannibalization.Is it always bad? Explain.

Correct Answer
verified
Cannibalization occurs when sales of a n...
View Answer

_____ divides individuals into groups according to the way they spend their time,the importance of items in their surroundings,their beliefs,and socioeconomic characteristics.

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Exam 8: Segmenting and Targeting Markets

Until the 1990s,few firms practiced market segmentation.

Correct AnswerverifiedShow Answer

What is product differentiation and how can it be achieved?

Correct AnswerverifiedProduct differentiation distinguishes on...View AnswerShow Answer

List,in correct order,the steps in segmenting a market.

Correct AnswerverifiedThe four segmentation steps are:1.Selec...View AnswerShow Answer

Marketers are rediscovering that the "one-size-fits-all" approach to marketing is still relevant.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is NOT an example of product differentiation?

Correct AnswerverifiedShow Answer

Altria Group Inc.'s Phillip Morris failed at an attempt to target Americans looking for a potentially safer cigarette.This market exhibits a lack of:

Correct AnswerverifiedShow Answer

One negative associated with the growth of one-to-one marketing is:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedThere are five possible ways to segment ...View AnswerShow Answer

Geodemographic segmentation combines geographic,demographic,and lifestyle segmentations.

Correct AnswerverifiedShow Answer

All of the following have been identified as trends that will lead to the continuing growth of one-to-one marketing EXCEPT:

Correct AnswerverifiedShow Answer

Dakin Farms in Vermont uses mass marketing.Marketers would call the strategy an undifferentiated targeting strategy.

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

An individualized marketing method that utilizes customer information to build long-term,personalized,and profitable relationships with each customer is referred to as:

Correct AnswerverifiedShow Answer

After selecting a market for study and choosing bases for segmenting that market,marketer must select the segmentation _____,which identify the specific segmentation variables to use.

Correct AnswerverifiedShow Answer

Define cannibalization.Is it always bad? Explain.

Correct AnswerverifiedCannibalization occurs when sales of a n...View AnswerShow Answer

_____ divides individuals into groups according to the way they spend their time,the importance of items in their surroundings,their beliefs,and socioeconomic characteristics.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
Product differentiation distinguishes on...
View Answer

Correct Answer
verified
The four segmentation steps are:
1.Selec...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
There are five possible ways to segment ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Cannibalization occurs when sales of a n...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified