Question 1

Having segmented a given market,the firm then determines which segments to target by using the _____ matrix.

Accepted Answer

A) environmental position/market attractiveness 
B) environmental position/technological position 
C) competitive position/environmental position 
D) market attractiveness/competitive position 
A) environmental position/market attractiveness 
B) environmental position/technological position 
C) competitive position/environmental position 
D) market attractiveness/competitive position D

Question 2

Each market segment consists of:

Accepted Answer

A) people with different needs and wants in terms of particular features,but who are willing to pay approximately the same amount for a product type. 
B) people with similar needs and characteristics that lead them to respond in a similar way to a particular product offering and marketing program. 
C) people who are similar with regard to specific characteristics,such as age,income,or sex,regardless of their product needs. 
D) a diverse group of people who share some characteristic,such as the Baby Boom generation,regardless of their product interests. 
A) people with different needs and wants in terms of particular features,but who are willing to pay approximately the same amount for a product type. 
B) people with similar needs and characteristics that lead them to respond in a similar way to a particular product offering and marketing program. 
C) people who are similar with regard to specific characteristics,such as age,income,or sex,regardless of their product needs. 
D) a diverse group of people who share some characteristic,such as the Baby Boom generation,regardless of their product interests. B

Question 3

Do you think that market segmentation based on sources of purchase influence for the product category is relevant for both consumer and organizational markets? Give reasons to support your answer.

Accepted Answer

Yes,market segmentation based on sources of purchase influence for the product category is relevant for both consumer and organizational markets.In the case of consumer market it is seen that many products used by various family members are purchased by the wife,but joint husband-wife decisions are becoming more common.Children's products,prescription drugs,and gifts are clearly influenced by a variety of family members.In organizational markets,several individuals or units with varying degrees of influence participate in buying decisions.

Question 4

Market segmentation is the process of:

Accepted Answer

A) dividing a market into distinct subsets of relatively homogeneous customer groups that differ from others. 
B) positioning the product offering in different geographical areas. 
C) changing customer demands so that they fall into homogeneous subsets. 
D) segregating a market into segments of relatively heterogeneous consumer groups. 
A) dividing a market into distinct subsets of relatively homogeneous customer groups that differ from others. 
B) positioning the product offering in different geographical areas. 
C) changing customer demands so that they fall into homogeneous subsets. 
D) segregating a market into segments of relatively heterogeneous consumer groups.

Question 5

Firms aiming a single product and marketing program at the mass market are always successful in their marketing endeavors.

Accepted Answer

A) True 
 B)False

Question 6

Behavioral attributes can take many forms,including those based on consumer needs;on product usage patterns;on more general behavioral patterns,including lifestyle.

Accepted Answer

A) True 
 B)False

Question 7

Segmentation decisions are best made in one of the three ways: based on who the customers are,what the customers can afford,or what the competitive offerings are.

Accepted Answer

A) True 
 B)False

Question 8

Which strategy involves serving one or more segments that,while not the largest,consists of a sufficient number of customers seeking somewhat-specialized benefits from a good or service?

Accepted Answer

A) Growth market strategy 
B) Niche market strategy 
C) Undifferentiated market strategy 
D) Peripheral market strategy 
A) Growth market strategy 
B) Niche market strategy 
C) Undifferentiated market strategy 
D) Peripheral market strategy

Question 9

Age and occupation are demographic descriptors that are used to segment consumer markets.

Accepted Answer

A) True 
 B)False

Question 10

Discuss the three important steps in the market segmentation process.

Accepted Answer

The three important steps in the market

Question 11

Kaleidoscope Inc.markets its range of fashion magazines only in New York and its range of agricultural magazines only in the Illinois area.This is an example of _____ segmentation.

Accepted Answer

A) behavioral 
B) geographic 
C) lifestyle 
D) demographic 
A) behavioral 
B) geographic 
C) lifestyle 
D) demographic

Question 12

Identifying a homogeneous segment that differs from other segments is the final step of the market segmentation process.

Accepted Answer

A) True 
 B)False

Question 13

Household life cycle can best be used as a basis for segmenting markets for _____.

Accepted Answer

A) candles 
B) cigarettes 
C) insurance plans 
D) computer modems 
A) candles 
B) cigarettes 
C) insurance plans 
D) computer modems

Question 14

Product usage is important because in many markets a small proportion of potential customers makes a high percentage of all purchases.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is a factor underlying market attractiveness?

Accepted Answer

A) Stage of competing products in product life cycle 
B) Growth rate in units,revenue,number of prospective customers 
C) Firm and competitor capabilities and resources 
D) Opportunity for competitive advantage 
A) Stage of competing products in product life cycle 
B) Growth rate in units,revenue,number of prospective customers 
C) Firm and competitor capabilities and resources 
D) Opportunity for competitive advantage

Question 16

The buying situation attribute includes three distinct types of situations.These are:

Accepted Answer

A) new buying;repeat buying;and customized buying. 
B) buy;rebuy;and modified rebuy. 
C) alternative evaluation;recommendation;and purchase. 
D) straight rebuy;modified rebuy;and a new buying situation. 
A) new buying;repeat buying;and customized buying. 
B) buy;rebuy;and modified rebuy. 
C) alternative evaluation;recommendation;and purchase. 
D) straight rebuy;modified rebuy;and a new buying situation.

Question 17

Touch mobile service providers observes that the 55-65 and the 65-plus segment with their high disposable incomes and their ability to devote time to new habits are a lucrative market opportunity for them.So they focus on this segment to increase the usage and penetration of Touch mobile's services.Which of the following demographic descriptors is being used as the basis for this market segmentation?

Accepted Answer

A) Age 
B) Education 
C) Occupation 
D) Sex 
A) Age 
B) Education 
C) Occupation 
D) Sex

Question 18

Segmentation by lifestyle segments markets on the basis of who the consumers are in a demographic sense.

Accepted Answer

A) True 
 B)False

Question 19

With the increase in education,the purchase of insurance,theater tickets,and photographic equipment has decreased.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following demographic descriptors is used at the microsegmentation the process of segmentation of industrial markets?

Accepted Answer

A) Age of the firm 
B) Size of the firm 
C) Industry affiliation 
D) Sex of the decider 
A) Age of the firm 
B) Size of the firm 
C) Industry affiliation 
D) Sex of the decider

Having segmented a given market,the firm then determines which segments to target by using the _____ matrix.

Each market segment consists of:

Do you think that market segmentation based on sources of purchase influence for the product category is relevant for both consumer and organizational markets? Give reasons to support your answer.

Market segmentation is the process of:

Firms aiming a single product and marketing program at the mass market are always successful in their marketing endeavors.

Behavioral attributes can take many forms,including those based on consumer needs;on product usage patterns;on more general behavioral patterns,including lifestyle.

Segmentation decisions are best made in one of the three ways: based on who the customers are,what the customers can afford,or what the competitive offerings are.

Which strategy involves serving one or more segments that,while not the largest,consists of a sufficient number of customers seeking somewhat-specialized benefits from a good or service?

Age and occupation are demographic descriptors that are used to segment consumer markets.

Discuss the three important steps in the market segmentation process.

Kaleidoscope Inc.markets its range of fashion magazines only in New York and its range of agricultural magazines only in the Illinois area.This is an example of _____ segmentation.

Identifying a homogeneous segment that differs from other segments is the final step of the market segmentation process.

Household life cycle can best be used as a basis for segmenting markets for _____.

Product usage is important because in many markets a small proportion of potential customers makes a high percentage of all purchases.

Which of the following is a factor underlying market attractiveness?

The buying situation attribute includes three distinct types of situations.These are:

Segmentation by lifestyle segments markets on the basis of who the consumers are in a demographic sense.

With the increase in education,the purchase of insurance,theater tickets,and photographic equipment has decreased.

Which of the following demographic descriptors is used at the microsegmentation the process of segmentation of industrial markets?

The Marketing Management Process

The Marketing Implications of Corporate and Business Strategies

Understanding Market Opportunities

Understanding Consumer Buying Behavior

Understanding Organizational Markets and Buying Behavior

Measuring Market Opportunities: Forecasting and Market Knowledge

Differentiation and Brand Positioning

Business Strategies: a Foundation for Marketing Program Decisions

Product Decisions

Pricing Decisions

Distribution Channel Decisions

Integrated Promotion Decisions

Marketing Strategies for a Digitally Networked World

Strategies for New and Growing Markets

Strategies for Mature and Declining Markets

Organizing and Planning for Effective Implementation

Measuring and Delivering Marketing Performance

Filters

Exam 7: Targeting Attractive Market Segments

Having segmented a given market,the firm then determines which segments to target by using the _____ matrix.

Each market segment consists of:

Do you think that market segmentation based on sources of purchase influence for the product category is relevant for both consumer and organizational markets? Give reasons to support your answer.

Market segmentation is the process of:

Firms aiming a single product and marketing program at the mass market are always successful in their marketing endeavors.

Behavioral attributes can take many forms,including those based on consumer needs;on product usage patterns;on more general behavioral patterns,including lifestyle.

Segmentation decisions are best made in one of the three ways: based on who the customers are,what the customers can afford,or what the competitive offerings are.

Which strategy involves serving one or more segments that,while not the largest,consists of a sufficient number of customers seeking somewhat-specialized benefits from a good or service?

Age and occupation are demographic descriptors that are used to segment consumer markets.

Discuss the three important steps in the market segmentation process.

Kaleidoscope Inc.markets its range of fashion magazines only in New York and its range of agricultural magazines only in the Illinois area.This is an example of _____ segmentation.

Identifying a homogeneous segment that differs from other segments is the final step of the market segmentation process.

Household life cycle can best be used as a basis for segmenting markets for _____.

Product usage is important because in many markets a small proportion of potential customers makes a high percentage of all purchases.

Which of the following is a factor underlying market attractiveness?

The buying situation attribute includes three distinct types of situations.These are:

Segmentation by lifestyle segments markets on the basis of who the consumers are in a demographic sense.

With the increase in education,the purchase of insurance,theater tickets,and photographic equipment has decreased.

Which of the following demographic descriptors is used at the microsegmentation the process of segmentation of industrial markets?

The Marketing Management Process

The Marketing Implications of Corporate and Business Strategies

Understanding Market Opportunities

Understanding Consumer Buying Behavior

Understanding Organizational Markets and Buying Behavior

Measuring Market Opportunities: Forecasting and Market Knowledge

Differentiation and Brand Positioning

Business Strategies: a Foundation for Marketing Program Decisions

Product Decisions

Pricing Decisions

Distribution Channel Decisions

Integrated Promotion Decisions

Marketing Strategies for a Digitally Networked World

Strategies for New and Growing Markets

Strategies for Mature and Declining Markets

Organizing and Planning for Effective Implementation

Measuring and Delivering Marketing Performance

Filters