Exam 6: Target Markets: Segmentation and Evaluation

The three most commonly used psychographic segmentation variables are

When the needs of individual consumers in a target market for a specific product are similar and the organization can satisfy most customers with a single marketing mix,the best approach to use may be the ____ strategy.

Consideration of the firm's overall objectives usually does not influence the final selection of a target market segment.

Through market tests,a forecaster gains data regarding consumers' intended purchases.

Volkswagen markets its Routan to large families,its R32 racecar to men,and its Jetta to young singles.What targeting approach is Volkswagen using?

A person who has buying power also has the authority to buy.

If Georgia-Pacific,a producer of home siding,decking,and other wood products,focused its marketing efforts to home construction companies only,it would be using a(n)____ strategy.If it sold the same products to both construction companies and DIY retailers such as Home Depot,it would be using a(n)____ strategy.

The concentrated targeting strategy is one in which an organization directs its marketing efforts toward a single market segment through one marketing mix.

Company sales forecasts are least likely to be based on

The producers of C & H Cane Sugar sell the product in five-pound bags,one-pound bags,and one-pound boxes.When developing its advertising strategy,C & H will most likely use a(n)____ approach in defining a target market.

The undifferentiated strategy can be effective for an organization that has a homogeneous market and can develop and maintain a single marketing mix.

The types of surveys used to forecast sales are customer,executive,and competitor surveys.

Budweiser may choose to segment its market based on heavy,moderate,and light drinkers of its alcoholic beverages.This is an example of market segmentation based on

Company sales potential is the maximum percentage of market potential that an individual firm within an industry can expect to obtain for a specific product.

Segmentation variables are characteristics of individuals,groups,or organizations in a total market.

A company sometimes defines a total market as its target market.

At times,after doing segmentation analysis,marketers in an organization decide not to enter any segments.

The maximum percentage of market potential that an individual firm can expect to obtain for a specific product is the

Guess? will be spending $22 million on marketing activities next year and expects to sell 30 million pairs of jeans.These 30 million pairs represent the company's

Katy Ramirez is a marketer for a company that produces in-ground swimming pools.When forecasting company sales,she finds a direct association between past sales and per capita income.Which sales forecasting technique is Katy using?