Question 1

The primary advantage of a concentrated targeting strategy is

Accepted Answer

A)  it meets the needs of a wide range of consumers.
B)  it allows a firm to specialize to meet specific customer needs.
C)  it is more flexible than any other approach.
D)  it is the least risky targeting approach.
E)  its customers are the most willing to repurchase the same brands.F) A) and B)
G) All of the above

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

Why is it important for marketers to forecast sales potential for the entire industry as well as for the individual company?

Accepted Answer

Forecasting sales potential for the enti...

Question 4

Zerex markets its radiator liquid to different markets;one as a coolant and the other as antifreeze.Which of the following segmentation variables is Zerex most likely using?

Accepted Answer

A)  Demographic
B)  Psychographic
C)  Environmental
D)  Geographic
E)  BehavioristicF) B) and D)
G) A) and B)

Question 5

The size of the market potential places limits on the size of the company sales potential.

Accepted Answer

A) True 
 B)False

Question 6

Alex Wren of Owens Corning Fiberglass talks to Terry Jones,a homebuilder,to find out how much fiberglass insulation he intends to use in building homes during the next year.Albert then multiplies that number by the total number of builders in the territory.He is using a ____ approach to measure sales potential.

Accepted Answer

A)  multivariable
B)  use of product
C)  breakdown
D)  regression
E)  buildupF) D) and E)
G) A) and E)

Question 7

A market segment profile provides customers with an understanding of how a business can use its capabilities.

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A)  income.
B)  age.
C)  preferences.
D)  geographic considerations.
E)  family life cycle.F) A) and B)
G) C) and E)

Question 9

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) A) and D)
G) A) and C)

Question 10

Many marketers are concerned about the number of potential customers within a certain area of land because of the different requirements to serve dissimilar areas.What is this segmentation variable called?

Accepted Answer

A)  Micromarketing
B)  Population
C)  Market density
D)  MSA
E)  PMSAF) A) and E)
G) C) and D)

Question 11

A business advantage of the concentrated targeting strategy for any company is that it

Accepted Answer

A)  requires less market research and information.
B)  requires less intensive analysis of customers' characteristics and needs.
C)  allows a firm to utilize all of its production capacity.
D)  maintains the firm's flexibility in moving into other market segments.
E)  allows a firm to develop a special marketing mix for a single market segment.F) A) and D)
G) A) and C)

Question 12

Evaluating and making product positioning decisions is important for

Accepted Answer

A)  new products only.
B)  existing products only.
C)  new and existing products.
D)  product deletions only.
E)  new products and product deletions.F) A) and B)
G) A) and C)

Question 13

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

Accepted Answer

A)  behavioristic segmentation.
B)  lifestyle variables.
C)  psychographic variables.
D)  family life cycle.
E)  phase of life segmentation.F) B) and D)
G) A) and E)

Question 14

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

Accepted Answer

The answer of Compare and contrast the concentrated and differentiated...

Question 15

When markets are comprised of people with differing product needs,the marketing manager should use a(n) ____ strategy.

Accepted Answer

A)  concentrated or differentiated targeting
B)  market-intensive
C)  integrated
D)  product-oriented
E)  undifferentiatedF) B) and D)
G) All of the above

Question 16

Which of the following is not a characteristic of a consumer market?

Accepted Answer

A)  it consists of purchasers who intend to consume or benefit from the purchased products
B)  they do not buy products for the main purpose of making a profit
C)  they are sometimes referred to as B2C markets
D)  their purchasing decisions are always made by only one individual
E)  they may buy the product,but not use it themselvesF) C) and D)
G) B) and E)

Question 17

In developing a company sales forecast,the forecasting methods are limited to surveys and correlation methods.

Accepted Answer

A) True 
 B)False

Question 18

Crest toothpaste is available in several different versions,such as Crest Whitening,Crest Tartar Control,Crest Whitening with mouthwash,and Crest Total Effects.Given these different variations of the product,it appears that the marketers of Crest are segmenting the market by using ____ segmentation.

Accepted Answer

A)  behavioristic
B)  product usage
C)  benefit
D)  end-purpose
E)  advantageF) A) and B)
G) All of the above

Question 19

The sum of firms' marketing efforts equals industry marketing efforts.

Accepted Answer

A) True 
 B)False

Question 20

Family life cycle is most typically based on

Accepted Answer

A)  income.
B)  geographic location.
C)  marital status and age of children.
D)  occupation.
E)  buying power.F) A) and D)
G) All of the above

Exam 6: Target Markets: Segmentation and Evaluation

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

Correct Answer
verified

Many marketers are concerned about the number of potential customers within a certain area of land because of the different requirements to serve dissimilar areas.What is this segmentation variable called?

Correct Answer
verified

In developing a company sales forecast,the forecasting methods are limited to surveys and correlation methods.

Correct Answer
verified

When markets are comprised of people with differing product needs,the marketing manager should use a(n) ____ strategy.

Correct Answer
verified

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

Correct Answer
verified

The sum of firms' marketing efforts equals industry marketing efforts.

Correct Answer
verified

The primary advantage of a concentrated targeting strategy is

Correct Answer
verified

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 Answer
verified

A market segment profile provides customers with an understanding of how a business can use its capabilities.

Correct Answer
verified

Zerex markets its radiator liquid to different markets;one as a coolant and the other as antifreeze.Which of the following segmentation variables is Zerex most likely using?

Correct Answer
verified

Crest toothpaste is available in several different versions,such as Crest Whitening,Crest Tartar Control,Crest Whitening with mouthwash,and Crest Total Effects.Given these different variations of the product,it appears that the marketers of Crest are segmenting the market by using ____ segmentation.

Correct Answer
verified

Why is it important for marketers to forecast sales potential for the entire industry as well as for the individual company?

Correct Answer
Answered by ExamLex AI
Forecasting sales potential for the enti...
View Answer

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

Correct Answer
verified

Family life cycle is most typically based on

Correct Answer
verified

Which of the following is not a characteristic of a consumer market?

Correct Answer
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The size of the market potential places limits on the size of the company sales potential.

Correct Answer
verified

A business advantage of the concentrated targeting strategy for any company is that it

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Evaluating and making product positioning decisions is important for

Correct Answer
verified

Exam 6: Target Markets: Segmentation and Evaluation

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

Correct AnswerverifiedShow Answer

Many marketers are concerned about the number of potential customers within a certain area of land because of the different requirements to serve dissimilar areas.What is this segmentation variable called?

Correct AnswerverifiedShow Answer

In developing a company sales forecast,the forecasting methods are limited to surveys and correlation methods.

Correct AnswerverifiedShow Answer

When markets are comprised of people with differing product needs,the marketing manager should use a(n) ____ strategy.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The sum of firms' marketing efforts equals industry marketing efforts.

Correct AnswerverifiedShow Answer

The primary advantage of a concentrated targeting strategy is

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

A market segment profile provides customers with an understanding of how a business can use its capabilities.

Correct AnswerverifiedShow Answer

Zerex markets its radiator liquid to different markets;one as a coolant and the other as antifreeze.Which of the following segmentation variables is Zerex most likely using?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Why is it important for marketers to forecast sales potential for the entire industry as well as for the individual company?

Correct AnswerAnswered by ExamLex AIForecasting sales potential for the enti...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Family life cycle is most typically based on

Correct AnswerverifiedShow Answer

Which of the following is not a characteristic of a consumer market?

Correct AnswerverifiedShow Answer

The size of the market potential places limits on the size of the company sales potential.

Correct AnswerverifiedShow Answer

A business advantage of the concentrated targeting strategy for any company is that it

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Evaluating and making product positioning decisions is important for

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
Answered by ExamLex AI
Forecasting sales potential for the enti...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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