Question 1

What does the cohort effect describe?

Accepted Answer

A)  why members of the same psychographic group decide to vote the same way 
B)  how Generation X uses its financial power to influence product trends 
C)  the predictability of demographic characteristics in analyzing purchase habits, as well as product-usage rates, and brand preference 
D)  the tendency of members of a generation to be influenced and bound together by events occurring during the key formative years 
A)  why members of the same psychographic group decide to vote the same way 
B)  how Generation X uses its financial power to influence product trends 
C)  the predictability of demographic characteristics in analyzing purchase habits, as well as product-usage rates, and brand preference 
D)  the tendency of members of a generation to be influenced and bound together by events occurring during the key formative years

Question 2

Which of the following is NOT a common basis for segmenting consumer markets?

Accepted Answer

A)  geographic 
B)  psychographic 
C)  competitive 
D)  demographic 
A)  geographic 
B)  psychographic 
C)  competitive 
D)  demographic

Question 3

A marketer of a variety of meat products introduced Lunchables, a product specifically aimed at children. What strategy is the company using to reach its target market?

Accepted Answer

A)  undifferentiated marketing 
B)  differentiated marketing 
C)  mass marketing 
D)  micromarketing 
A)  undifferentiated marketing 
B)  differentiated marketing 
C)  mass marketing 
D)  micromarketing

Question 4

The first stage in the market segmentation process, after identifying promising segments, is to produce a forecast of market potential within each segment.

Accepted Answer

A) True 
 B)False

Question 5

What is one of the two largest metropolitan areas in the world?

Accepted Answer

A)  Montreal 
B)  Tokyo 
C)  New York 
D)  London 
A)  Montreal 
B)  Tokyo 
C)  New York 
D)  London

Question 6

What does the family life cycle refer to?

Accepted Answer

A)  a way to apply psychographic segmentation 
B)  the process of family formation and dissolution 
C)  insights into relationships among age, occupation, income, and housing 
D)  the 11 stages of personal growth from infancy to retirement 
A)  a way to apply psychographic segmentation 
B)  the process of family formation and dissolution 
C)  insights into relationships among age, occupation, income, and housing 
D)  the 11 stages of personal growth from infancy to retirement

Question 7

Explain Engle's three laws. Why are they of interest to marketers?

Accepted Answer

According to Engle's three laws, as inco

Question 8

What is a firm doing when it chooses to target potential customers by postal code, specific occupation, or even lifestyle?

Accepted Answer

A)  megamarketing 
B)  hypermarketing 
C)  micromarketing 
D)  concentrated marketing 
A)  megamarketing 
B)  hypermarketing 
C)  micromarketing 
D)  concentrated marketing

Question 9

Currently, the two largest cities in the world are Shanghai, China and Mumbai, India.

Accepted Answer

A) True 
 B)False

Question 10

What is the basis for determining whether pencils are consumer products or business products?

Accepted Answer

A)  the purpose for which the pencils are purchased 
B)  the number of pencils that are purchased 
C)  where the pencils are purchased from 
D)  the total price paid for the number of pencils 
A)  the purpose for which the pencils are purchased 
B)  the number of pencils that are purchased 
C)  where the pencils are purchased from 
D)  the total price paid for the number of pencils

Question 11

What is the product-related segmentation of consumers that is based on the strength of their attachment and allegiance to their preferred products?

Accepted Answer

A)  values and lifestyles 
B)  business-to-business 
C)  psychographic 
D)  brand loyalty 
A)  values and lifestyles 
B)  business-to-business 
C)  psychographic 
D)  brand loyalty

Question 12

How does the VALS system categorize consumers who are influenced by symbols of success?

Accepted Answer

A)  action-motivated 
B)  achievement-motivated 
C)  principle-motivated 
D)  self-expression motivated 
A)  action-motivated 
B)  achievement-motivated 
C)  principle-motivated 
D)  self-expression motivated

Question 13

Discuss the concept of market segmentation and how it relates to consumers and businesses.

Accepted Answer

Market segmentation is the division of t

Question 14

The geographic segmentation is useful because consumers in a specific geographic location will make the same buying decisions.

Accepted Answer

A) True 
 B)False

Question 15

What greatly attributes to the Canadian population growth and change in Canada's racial and ethnic make-up?

Accepted Answer

A)  North American Free Trade Agreement 
B)  immigration among some minority groups 
C)  shifts in population to urban areas 
D)  increasing birth rate for the entire population 
A)  North American Free Trade Agreement 
B)  immigration among some minority groups 
C)  shifts in population to urban areas 
D)  increasing birth rate for the entire population

Question 16

Based on the most recent census data, where does the majority of the Canadian population live?

Accepted Answer

A)  in Toronto, Ontario 
B)  between Montreal, Quebec, and Windsor, Ontario 
C)  in 33 metropolitan areas across the country 
D)  in Calgary, Alberta 
A)  in Toronto, Ontario 
B)  between Montreal, Quebec, and Windsor, Ontario 
C)  in 33 metropolitan areas across the country 
D)  in Calgary, Alberta

Question 17

Match each item to the statement or sentence listed below.
a.target market
b.market segmentation
c.cohort effect
d.census metropolitan area (CMA)
e.differentiated marketing
f.concentrated marketing
g.micromarketing
h.positioning map
i.VALS
j.AIO statement
k.core region
l.consumer product
m.demographic segmentation
n.80/20 principle
o.psychographic segmentation
p.geographic information system (GIS)
q.positioning
r.geographic segmentation
s.business product
t.mass marketing
-With _____, a company focuses its efforts on profitably satisfying a single market segment.

Accepted Answer

The answer of Match each item to the statement or...

Question 18

Once the total market potential has been estimated by a firm, the next step in the market segmentation process is to forecast the probable market share.

Accepted Answer

A) True 
 B)False

Question 19

Kim's Egg Rolls were long promoted as a Chinese dinner item. However, when the product was evaluated by consumers, research showed they were seen as snacks, not mealtime items. The company decided to change its packaging and advertising to advocate the idea of egg rolls as an afternoon or midnight treat. This is an example of repositioning a product.

Accepted Answer

A) True 
 B)False

Question 20

Applying a micromarketing strategy will allow companies to reach larger and more lucrative markets.

Accepted Answer

A) True 
 B)False

What does the cohort effect describe?

Which of the following is NOT a common basis for segmenting consumer markets?

A marketer of a variety of meat products introduced Lunchables, a product specifically aimed at children. What strategy is the company using to reach its target market?

The first stage in the market segmentation process, after identifying promising segments, is to produce a forecast of market potential within each segment.

What is one of the two largest metropolitan areas in the world?

What does the family life cycle refer to?

Explain Engle's three laws. Why are they of interest to marketers?

What is a firm doing when it chooses to target potential customers by postal code, specific occupation, or even lifestyle?

Currently, the two largest cities in the world are Shanghai, China and Mumbai, India.

What is the basis for determining whether pencils are consumer products or business products?

What is the product-related segmentation of consumers that is based on the strength of their attachment and allegiance to their preferred products?

How does the VALS system categorize consumers who are influenced by symbols of success?

Discuss the concept of market segmentation and how it relates to consumers and businesses.

The geographic segmentation is useful because consumers in a specific geographic location will make the same buying decisions.

What greatly attributes to the Canadian population growth and change in Canada's racial and ethnic make-up?

Based on the most recent census data, where does the majority of the Canadian population live?

Once the total market potential has been estimated by a firm, the next step in the market segmentation process is to forecast the probable market share.

Applying a micromarketing strategy will allow companies to reach larger and more lucrative markets.

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Digital Marketing and Social Media: Living in the Connected World

Consumer Behaviour

Business-To-Business B2b Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

Relationship Marketing and Customer Relationship Management CRM

Filters

Exam 9: Marketing Segmentation, Targeting, and Positioning

What does the cohort effect describe?

Which of the following is NOT a common basis for segmenting consumer markets?

A marketer of a variety of meat products introduced Lunchables, a product specifically aimed at children. What strategy is the company using to reach its target market?

The first stage in the market segmentation process, after identifying promising segments, is to produce a forecast of market potential within each segment.

What is one of the two largest metropolitan areas in the world?

What does the family life cycle refer to?

Explain Engle's three laws. Why are they of interest to marketers?

What is a firm doing when it chooses to target potential customers by postal code, specific occupation, or even lifestyle?

Currently, the two largest cities in the world are Shanghai, China and Mumbai, India.

What is the basis for determining whether pencils are consumer products or business products?

What is the product-related segmentation of consumers that is based on the strength of their attachment and allegiance to their preferred products?

How does the VALS system categorize consumers who are influenced by symbols of success?

Discuss the concept of market segmentation and how it relates to consumers and businesses.

The geographic segmentation is useful because consumers in a specific geographic location will make the same buying decisions.

What greatly attributes to the Canadian population growth and change in Canada's racial and ethnic make-up?

Based on the most recent census data, where does the majority of the Canadian population live?

Once the total market potential has been estimated by a firm, the next step in the market segmentation process is to forecast the probable market share.

Applying a micromarketing strategy will allow companies to reach larger and more lucrative markets.

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Digital Marketing and Social Media: Living in the Connected World

Consumer Behaviour

Business-To-Business B2b Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

Relationship Marketing and Customer Relationship Management CRM

Filters