Question 1

Company sales forecasts are least likely to be based on

Accepted Answer

A)  executive judgment. 
B)  customer surveys or sales force surveys. 
C)  time series analysis. 
D)  market tests. 
E)  single-variable segmentation. 
A)  executive judgment. 
B)  customer surveys or sales force surveys. 
C)  time series analysis. 
D)  market tests. 
E)  single-variable segmentation.

Question 2

Why would a company use the undifferentiated strategy?

Accepted Answer

A)  The needs of individual consumers are dissimilar,and distinctive marketing mixes are required to satisfy them. 
B)  The undifferentiated strategy is the one strategy that provides maximum satisfaction to the whole market. 
C)  The needs of individual consumers in the target market for a specific product are similar,so the organization can satisfy most customers with a single marketing mix. 
D)  The undifferentiated strategy is expensive to implement but tends to produce the most sales. 
E)  The undifferentiated strategy requires less time and fewer resources. 
A)  The needs of individual consumers are dissimilar,and distinctive marketing mixes are required to satisfy them. 
B)  The undifferentiated strategy is the one strategy that provides maximum satisfaction to the whole market. 
C)  The needs of individual consumers in the target market for a specific product are similar,so the organization can satisfy most customers with a single marketing mix. 
D)  The undifferentiated strategy is expensive to implement but tends to produce the most sales. 
E)  The undifferentiated strategy requires less time and fewer resources.

Question 3

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

Accepted Answer

A)  Concentrated 
B)  Strategic 
C)  Differentiated 
D)  Undifferentiated 
E)  Multisegmented 
A)  Concentrated 
B)  Strategic 
C)  Differentiated 
D)  Undifferentiated 
E)  Multisegmented

Question 4

The two general approaches to measuring company sales potential are the breakdown and the buildup approach.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

Cosmopolitan magazine,Secret deodorant,and Eve cigarettes are all products whose marketers have used segmentation based on

Accepted Answer

A)  age. 
B)  education. 
C)  product use. 
D)  gender. 
E)  income. 
A)  age. 
B)  education. 
C)  product use. 
D)  gender. 
E)  income.

Question 7

The five-step process usually used for target market selection includes identifying the appropriate targeting strategy,determining which segmentation variables to use,developing market segment profiles,evaluating relevant market segments,and deciding which targeting strategy to use.

Accepted Answer

A) True 
 B)False

Question 8

Market segment profiles help determine the most desirable segment or segments in relation to the firm's strengths,weaknesses,objectives,and resources.

Accepted Answer

A) True 
 B)False

Question 9

A market segment profile deals primarily with demographic characteristics.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following sales forecasting techniques would generally be most suitable for estimating sales of a new product?

Accepted Answer

A)  Executive judgment 
B)  Customer surveys 
C)  Time series analysis 
D)  Market tests 
E)  Regression methods 
A)  Executive judgment 
B)  Customer surveys 
C)  Time series analysis 
D)  Market tests 
E)  Regression methods

Question 11

Through marketing newsprint to newspaper publishers and glass manufacturers that use it in packing,International Paper segments its market based on

Accepted Answer

A)  customer size. 
B)  psychographics. 
C)  demographics. 
D)  use of product. 
E)  geographic location. 
A)  customer size. 
B)  psychographics. 
C)  demographics. 
D)  use of product. 
E)  geographic location.

Question 12

Which of the following variables would most likely be used to segment a business market?

Accepted Answer

A)  An attitude of the company's CEO 
B)  The geographic location of the company 
C)  The lifestyle of the company's buying agent 
D)  Net income generated by the company 
E)  Common opinions of the company's employees 
A)  An attitude of the company's CEO 
B)  The geographic location of the company 
C)  The lifestyle of the company's buying agent 
D)  Net income generated by the company 
E)  Common opinions of the company's employees

Question 13

When a marketer is engaged in the target market selection process and has assessed relevant market segments by considering such factors as sales estimates,competition,and estimated costs,the marketer is ready for the next step,which is to

Accepted Answer

A)  identify the appropriate targeting strategy. 
B)  determine which segmentation variables to use. 
C)  develop market segment profiles. 
D)  evaluate relevant market segments. 
E)  select specific target markets. 
A)  identify the appropriate targeting strategy. 
B)  determine which segmentation variables to use. 
C)  develop market segment profiles. 
D)  evaluate relevant market segments. 
E)  select specific target markets.

Question 14

While developing a company sales forecast at Safeway,Barb Herrington discovered a pattern in sales volume over the past five years.She likely used which sales forecasting technique?

Accepted Answer

A)  Surveys 
B)  Executive judgment 
C)  Time series analysis 
D)  Market tests 
E)  Regression analysis 
A)  Surveys 
B)  Executive judgment 
C)  Time series analysis 
D)  Market tests 
E)  Regression analysis

Question 15

Population density and city size are ____ variables used for market segmentation.

Accepted Answer

A)  geographic 
B)  demographic 
C)  psychographic 
D)  environmental 
E)  geodemographic 
A)  geographic 
B)  demographic 
C)  psychographic 
D)  environmental 
E)  geodemographic

Question 16

If Campbell were to offer single serving "Soup for One" packages to small household markets,it would be using segmentation based on

Accepted Answer

A)  income. 
B)  ethnicity. 
C)  taste. 
D)  geographic considerations. 
E)  family life cycle. 
A)  income. 
B)  ethnicity. 
C)  taste. 
D)  geographic considerations. 
E)  family life cycle.

Question 17

The information yielded by market segment profiles usually is not very useful later in the marketing process.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following products is most likely to have its market segment based on age?

Accepted Answer

A)  Bass shoes 
B)  Lipton Iced Tea 
C)  Bic pens 
D)  Legos 
E)  Carpet 
A)  Bass shoes 
B)  Lipton Iced Tea 
C)  Bic pens 
D)  Legos 
E)  Carpet

Question 19

Consumers that do not own dogs are not likely to be in the market for dog food because

Accepted Answer

A)  they lack the authority to purchase the dog food. 
B)  they do not possess the buying power for purchasing dog food. 
C)  their ability to purchase the dog food is questionable. 
D)  they do not have the need or desire for dog food. 
E)  they are willing to use their buying power. 
A)  they lack the authority to purchase the dog food. 
B)  they do not possess the buying power for purchasing dog food. 
C)  their ability to purchase the dog food is questionable. 
D)  they do not have the need or desire for dog food. 
E)  they are willing to use their buying power.

Question 20

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

Accepted Answer

A)  geographic location. 
B)  type of organization. 
C)  secondary product use. 
D)  customer size. 
E)  market potential. 
A)  geographic location. 
B)  type of organization. 
C)  secondary product use. 
D)  customer size. 
E)  market potential.

Exam 5: Selecting Target Markets

Company sales forecasts are least likely to be based on

Why would a company use the undifferentiated strategy?

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

The two general approaches to measuring company sales potential are the breakdown and the buildup approach.

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

Cosmopolitan magazine,Secret deodorant,and Eve cigarettes are all products whose marketers have used segmentation based on

The five-step process usually used for target market selection includes identifying the appropriate targeting strategy,determining which segmentation variables to use,developing market segment profiles,evaluating relevant market segments,and deciding which targeting strategy to use.

Market segment profiles help determine the most desirable segment or segments in relation to the firm's strengths,weaknesses,objectives,and resources.

A market segment profile deals primarily with demographic characteristics.

Which of the following sales forecasting techniques would generally be most suitable for estimating sales of a new product?

Through marketing newsprint to newspaper publishers and glass manufacturers that use it in packing,International Paper segments its market based on

Which of the following variables would most likely be used to segment a business market?

When a marketer is engaged in the target market selection process and has assessed relevant market segments by considering such factors as sales estimates,competition,and estimated costs,the marketer is ready for the next step,which is to

While developing a company sales forecast at Safeway,Barb Herrington discovered a pattern in sales volume over the past five years.She likely used which sales forecasting technique?

Population density and city size are ____ variables used for market segmentation.

If Campbell were to offer single serving "Soup for One" packages to small household markets,it would be using segmentation based on

The information yielded by market segment profiles usually is not very useful later in the marketing process.

Which of the following products is most likely to have its market segment based on age?

Consumers that do not own dogs are not likely to be in the market for dog food because

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

Strategic Marketing Management

Developing and Implementing Marketing Strategies

The Global Marketing Environment

Information for Marketing Decisions

Consumer Behavior

Business Buying Behavior

International Marketing

Digital Marketing and Social Media

Product Decisions

Strategic Product Management

Services Marketing

Strategic Management of Branding and Packaging

A Supply Chain Management and Marketing Channels

B Supply Chain Management and Marketing Channels

A Retailing,wholesaling and Direct Marketing

B Retailing,wholesaling and Direct Marketing

Integrated Marketing Communications

Advertising and Publicrelations

Personal Selling and Sales Promotion

Strategic Pricing Management

Pricingdecisions

Global Issues,social Responsibility and Marketing

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