Exam 6: Target Markets Segmentation and Evaluation

Mia is pet-sitting for a friend's dog while he is on vacation. Her friend has given Mia all sorts of information, including the veterinarian's name and phone number, pet emergency center location, and the dog's favorite bedtime snack. The first evening of the vacation, Mia realizes that her friend did not bring the dog's food over, and she has no idea what the dog eats. Her friend's cell phone is "out of range" at the moment, so Mia must go to the grocery store and shop for dog food, even though she has never bought it before now. In this case, even though Mia is not a dog owner, she is likely to be part of the market for dog food for all of the following reasons except _______.

Several conditions must exist for market segmentation to be successful. These conditions include all of the following except

Surveys are sometimes used to forecast sales.

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

Justin Franklin's company is interested in locating areas where the average income is high, the average age range is 25-35 years, and the lifestyles of the people involve extreme adventures and dangerous leisure activities. His company would most likely find possible markets through

Segmentation variables are usually grouped into four categories:

The psychographic variable that includes numerous characteristics related to people's activities, interests, and opinion is

​____________ is a useful sales forecasting method as long as a precise relationship between past sales figures and one or more variables can be established. Without these relationships, this method is useless in forecasting future sales.

Any group of people who, as individuals or as organizations, have needs for products in a product class and who have the ability, willingness, and authority to buy such products is a(n)

Brian works for a manufacturer of sports equipment and is currently developing a company sales forecast for golf clubs. While reviewing data, he discovered a pattern in sales volume over the past ten years that peaked during two months of each year. Brian likely used which sales forecasting technique?

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

Compare and contrast the concentrated and differentiated targeting strategies of market segmentation.

The final step in the target market selection process is

Yvonne and Garret are looking at information about how their organization's products could fit potential customers' needs. This information deals with demographic characteristics, product benefits sought, lifestyles, geographic factors, brand preferences, and usage rates. They are most likely looking at

Dell segments its business markets into small business, corporate, government agencies, K-12 schools, and higher education institutions. The primary segmentation variable used in this example is

One problem with using psychographic variables for segmentation purposes is that they are difficult to measure accurately.

​The marketer uses segmentation variables to divide a market into segments. All of the following statements are true about segmentation variables except:

Motives can be used to segment markets.

Relying on executive judgment for forecasting may be adequate when

A marketer that targets customers based on marital status and the presence and age of children is using