Question 1

A differentiated targeting strategy is when the organization targets two or more markets by developing a single marketing mix.

Accepted Answer

A) True 
 B)False

Question 2

Discuss the differences between the breakdown and buildup approaches to measuring company sales potential. What are the similarities between these two approaches?

Accepted Answer

The answer of Discuss the differences between the breakdown and...

Question 3

A firm operating in a one-state market would not regionalize its market.

Accepted Answer

A) True 
 B)False

Question 4

Only one variable can be used to segment a market.

Accepted Answer

A) True 
 B)False

Question 5

The sales prediction technique based on the correlation between sales and other factors¾such as population density, per capita income, or family size¾is

Accepted Answer

A)  executive judgment.
B)  time series analysis.
C)  regression analysis.
D)  a market test.
E)  an expert survey.F) A) and B)
G) None of the above

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

Procter & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter & Gamble is using a(n)  ____ targeting strategy for laundry detergents.

Accepted Answer

A)  multiuse
B)  differentiated
C)  stratified
D)  undifferentiated
E)  concentratedF) None of the above
G) A) and B)

Question 8

The most important reason that a firm might use a sales force forecasting survey to determine its sales forecast is

Accepted Answer

A)  salespeople are generally optimistic about the future and will provide excellent forecast targets.
B)  most salespeople tend to have a pessimistic outlook, which is more likely to result in an achievable sales forecast.
C)  this tends to be the fastest way to determine a good sales forecast for the upcoming period.
D)  the averaging and other statistical techniques applied to these forecasts result in extremely accurate numbers.
E)  the sales staff is closer to the actual customers on a regular basis than anyone else in the organization.F) C) and D)
G) B) and E)

Question 9

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.F) All of the above
G) A) and D)

Question 10

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)  CarpetF) B) and C)
G) A) and B)

Question 11

Alpine Ski Shops U.S, is looking for new markets. Since their market is based mainly on access to snow, they would most likely use which base for segmentation?

Accepted Answer

A)  behavioristic
B)  demographic
C)  psychographic
D)  environmental
E)  geographicF) A) and B)
G) A) and C)

Question 12

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.F) A) and E)
G) B) and C)

Question 13

When evaluating market segments, which three major issues should be considered?

Accepted Answer

When evaluating market segments, busines...

Question 14

Kelly's Kids is a home-based business that sells high-quality children's clothing at premium prices using in-home parties. These in-home parties typically cater to families with small children and middle- to upper-middle-class income. Kelly's Kids is using ____ variables to segment its market.

Accepted Answer

A)  demographic
B)  psychographic
C)  sociographic
D)  behavioristic
E)  geographicF) A) and E)
G) D) and E)

Question 15

____ describe the similarities among potential customers within a market segment and explain the differences among people in different market segments.

Accepted Answer

A)  Market segmentation variables
B)  Market segment profiles
C)  Segmentation grids
D)  Market differentiation indexes
E)  Market concentrationsF) A) and D)
G) B) and D)

Question 16

Toyota has learned that some people want sports cars, while others want vans, trucks, sedans, and economy cars. In this instance, Toyota has found its markets to be

Accepted Answer

A)  heterogeneous.
B)  undifferentiated.
C)  concentrated.
D)  homogeneous.
E)  focused.F) A) and C)
G) A) and D)

Question 17

Which of the following is an example of a behavioristic segmentation variable?

Accepted Answer

A)  Family size
B)  Climate
C)  Age
D)  Usage rate
E)  Personality characteristicsF) C) and D)
G) A) and B)

Question 18

One limitation of the sales force survey technique is that salespeople often believe that their sales goals are determined by their sales estimates.

Accepted Answer

A) True 
 B)False

Question 19

Individuals' ability to buy depends on the amount of their buying power.

Accepted Answer

A) True 
 B)False

Question 20

If Jaguar focused all its marketing efforts for the new Jaguar XKR on professionals earning more than $250,000, it would be using a(n)  ____ strategy.

Accepted Answer

A)  homogeneous
B)  undifferentiated
C)  multisegmented
D)  concentrated
E)  stratifiedF) B) and C)
G) C) and D)

Exam 5: Target Market Segmentation and Evaluation

Kelly's Kids is a home-based business that sells high-quality children's clothing at premium prices using in-home parties. These in-home parties typically cater to families with small children and middle- to upper-middle-class income. Kelly's Kids is using ____ variables to segment its market.

Correct AnswerverifiedShow Answer

A differentiated targeting strategy is when the organization targets two or more markets by developing a single marketing mix.

Correct AnswerverifiedShow Answer

Alpine Ski Shops U.S, is looking for new markets. Since their market is based mainly on access to snow, they would most likely use which base for segmentation?

Correct AnswerverifiedShow Answer

The most important reason that a firm might use a sales force forecasting survey to determine its sales forecast is

Correct AnswerverifiedShow Answer

____ describe the similarities among potential customers within a market segment and explain the differences among people in different market segments.

Correct AnswerverifiedShow Answer

Discuss the differences between the breakdown and buildup approaches to measuring company sales potential. What are the similarities between these two approaches?

Correct AnswerverifiedShow Answer

Which of the following is an example of a behavioristic segmentation variable?

Correct AnswerverifiedShow Answer

When evaluating market segments, which three major issues should be considered?

Correct AnswerAnswered by ExamLex AIWhen evaluating market segments, busines...View AnswerShow Answer

If Jaguar focused all its marketing efforts for the new Jaguar XKR on professionals earning more than $250,000, it would be using a(n) ____ strategy.

Correct AnswerverifiedShow Answer

A firm operating in a one-state market would not regionalize its market.

Correct AnswerverifiedShow Answer

One limitation of the sales force survey technique is that salespeople often believe that their sales goals are determined by their sales estimates.

Correct AnswerverifiedShow Answer

Only one variable can be used to segment a market.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Individuals' ability to buy depends on the amount of their buying power.

Correct AnswerverifiedShow Answer

Company sales forecasts are least likely to be based on

Correct AnswerverifiedShow Answer

The sales prediction technique based on the correlation between sales and other factors¾such as population density, per capita income, or family size¾is

Correct AnswerverifiedShow Answer

Procter & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter & Gamble is using a(n) ____ targeting strategy for laundry detergents.

Correct AnswerverifiedShow Answer

Toyota has learned that some people want sports cars, while others want vans, trucks, sedans, and economy cars. In this instance, Toyota has found its markets to be

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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Answered by ExamLex AI
When evaluating market segments, busines...
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