Question 1

Alps Ski Co is looking for new markets for both its brick and mortar retail stores and its catalog division. Alps Ski Co would most likely use a(n)  ______ base for market segmentation of its stores and a(n)  ______ base for market segmentation of its catalog division.

Accepted Answer

A)  behavioristic; geographic
B)  geographic; demographic
C)  demographic; psychographic
D)  environmental; demographic
E)  geographic; behavioristicF) B) and C)
G) A) and E)

Question 2

After an organization has determined which of the many segmentation variables it will use, the next step in the target market selection process is

Accepted Answer

A)  evaluating each of the relevant market segments.
B)  selecting the specific target markets.
C)  reviewing the appropriate marketing strategy.
D)  analyzing the interaction between segmentation variables.
E)  developing market segment profiles.F) A) and E)
G) B) and D)

Question 3

Which of the following is not true with regard to company sales potential for a market segment?

Accepted Answer

A)  The magnitude of industry-wide marketing activities has a direct impact on the company's sales potential.
B)  The magnitude of industry-wide marketing activities has an indirect but definite impact on the company's sales potential.
C)  The market potential places an absolute limit on the size of the company's sales potential.
D)  The intensity and effectiveness of a company's marketing activities relative to competitors' activities affect the size of the company's sales potential.
E)  If a company spends twice as much as any of its competitors on marketing efforts, and if each dollar spent is more effective in generating sales, the firm's sales potential will be high relative to competitors'.F) A) and D)
G) B) and C)

Question 4

Demographic variables such as income and occupation, as well as how people spend their time and the importance of things in their surroundings, are all factors considered in ____ segmentation.

Accepted Answer

A)  psychographic
B)  social class
C)  lifestyle
D)  personality
E)  family life cycleF) A) and B)
G) A) and E)

Question 5

You have just been promoted to vice president of marketing for your firm. Unlike your predecessor, you believe the firm can increase its sales in a market by focusing on more than one segment of the market. You recognize to do this means your firm will incur higher production costs. Based on this information, which of the following targeting strategies are you advocating?

Accepted Answer

A)  A concentrated targeting strategy
B)  An undifferentiated targeting strategy
C)  A broad-based targeting strategy
D)  A differentiated targeting strategy
E)  A heterogeneous targeting strategyF) A) and E)
G) A) and D)

Question 6

The undifferentiated targeting strategy for finding a target market will likely not be successful if

Accepted Answer

A)  product positioning is needed.
B)  the firm defines the total market as its target market.
C)  people within the market have heterogeneous needs.
D)  people within the market have homogeneous needs.
E)  the firm is capable of developing a single marketing mix that satisfies all people's needs.F) B) and D)
G) A) and E)

Question 7

A company sales forecast is the amount of a product that a company expects to sell during a specific time period at a specified level of marketing activities.

Accepted Answer

A) True 
 B)False

Question 8

Surveys are sometimes used to forecast sales.

Accepted Answer

A) True 
 B)False

Question 9

Lifestyle is a product-related variable.

Accepted Answer

A) True 
 B)False

Question 10

____ 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) C) and D)
G) All of the above

Question 11

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 12

Identify the four major categories of segmentation of variables for consumer products, and give three examples of each.

Accepted Answer

A marketer that uses segmentation to rea...

Question 13

Which of the following is not a factor cited in the text that affects the strategy for selecting a target market?

Accepted Answer

A)  Target market characteristics
B)  Product attributes
C)  Organizational resources
D)  Organizational objectives
E)  Organizational structureF) A) and B)
G) A) and C)

Question 14

A competitive assessment may reveal that a market segment that initially seemed attractive may not be worth pursuing.

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

Kathryn wants to open up a clothing store. The target market she selects will largely determine the type of product she sells. She has performed research and come up with three market segments that she thinks could be profitable: formal wear for special events, stylish but high-end clothes for consumers who use clothing as a status symbol, and casual clothing for those whose main concern is comfort. Kathryn has used sales estimates, competitive assessments, and cost estimates to determine the potential profitability of each segment. What is Kathryn's next step in the process?

Accepted Answer

A)  Determine which segmentation variables to use
B)  Develop market segment profiles
C)  Develop sales forecasts
D)  Select specific target markets
E)  Evaluate relevant market segmentsF) B) and C)
G) All of the above

Question 17

The first step in the target market selection process is

Accepted Answer

A)  determining which segmentation variables to use.
B)  selecting specific target markets.
C)  identifying an appropriate targeting strategy.
D)  evaluating relevant market segments.
E)  developing market segment profiles.F) B) and E)
G) A) and B)

Question 18

Miss Moo produces a line of milk products that are lactose-free. The milk comes in pint, quart, and half-gallon cartons, as well as 18-ounce glass bottles. Miss Moo sells its pint cartons to school systems, its quart and half-gallon cartons to grocery stores, and its glass bottles to vending machine operators. Miss Moo appears to use a(n)  _____ strategy in marketing its product to a target market that is likely to be _______.

Accepted Answer

A)  undifferentiated; homogeneous
B)  undifferentiated; heterogeneous
C)  differentiated; homogeneous
D)  differentiated; heterogeneous
E)  concentrated; heterogeneousF) B) and E)
G) C) and D)

Question 19

When evaluating market segments, assessment of competitors is important because

Accepted Answer

A)  it is difficult to segment a market when it has multiple competitors.
B)  an absence of competitors usually creates difficulties in accurately measuring segment sales potential.
C)  sales estimates may cause a segment to appear to be lucrative, but there may be several competitors that together have a large share of that segment.
D)  a competitive analysis may lead to confusion as to who are the key competitors.
E)  competition is generally not a major problem as long as a marketer is aware of it.F) B) and C)
G) A) and E)

Question 20

Which of the following is not a requirement or characteristic of a market?

Accepted Answer

A)  The ability to purchase a product
B)  A large number of people or organizations
C)  The authority to buy a product
D)  The willingness to use buying power
E)  The need for a specific product in a specific product categoryF) A) and D)
G) C) and E)

Exam 5: Target Market Segmentation and Evaluation

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

Correct Answer
verified

The undifferentiated targeting strategy for finding a target market will likely not be successful if

Correct Answer
verified

Demographic variables such as income and occupation, as well as how people spend their time and the importance of things in their surroundings, are all factors considered in ____ segmentation.

Correct Answer
verified

Which of the following is not true with regard to company sales potential for a market segment?

Correct Answer
verified

Correct Answer
verified

Which of the following is not a factor cited in the text that affects the strategy for selecting a target market?

Correct Answer
verified

The first step in the target market selection process is

Correct Answer
verified

A company sales forecast is the amount of a product that a company expects to sell during a specific time period at a specified level of marketing activities.

Correct Answer
verified

Lifestyle is a product-related variable.

Correct Answer
verified

Identify the four major categories of segmentation of variables for consumer products, and give three examples of each.

Correct Answer
verified
A marketer that uses segmentation to rea...
View Answer

After an organization has determined which of the many segmentation variables it will use, the next step in the target market selection process is

Correct Answer
verified

Surveys are sometimes used to forecast sales.

Correct Answer
verified

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

Correct Answer
verified

When evaluating market segments, assessment of competitors is important because

Correct Answer
verified

Alps Ski Co is looking for new markets for both its brick and mortar retail stores and its catalog division. Alps Ski Co would most likely use a(n) base for market segmentation of its stores and a(n) base for market segmentation of its catalog division.

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Which of the following is not a requirement or characteristic of a market?

Correct Answer
verified

A competitive assessment may reveal that a market segment that initially seemed attractive may not be worth pursuing.

Correct Answer
verified

Exam 5: Target Market Segmentation and Evaluation

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

Correct AnswerverifiedShow Answer

The undifferentiated targeting strategy for finding a target market will likely not be successful if

Correct AnswerverifiedShow Answer

Demographic variables such as income and occupation, as well as how people spend their time and the importance of things in their surroundings, are all factors considered in ____ segmentation.

Correct AnswerverifiedShow Answer

Which of the following is not true with regard to company sales potential for a market segment?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is not a factor cited in the text that affects the strategy for selecting a target market?

Correct AnswerverifiedShow Answer

The first step in the target market selection process is

Correct AnswerverifiedShow Answer

A company sales forecast is the amount of a product that a company expects to sell during a specific time period at a specified level of marketing activities.

Correct AnswerverifiedShow Answer

Lifestyle is a product-related variable.

Correct AnswerverifiedShow Answer

Identify the four major categories of segmentation of variables for consumer products, and give three examples of each.

Correct AnswerverifiedA marketer that uses segmentation to rea...View AnswerShow Answer

After an organization has determined which of the many segmentation variables it will use, the next step in the target market selection process is

Correct AnswerverifiedShow Answer

Surveys are sometimes used to forecast sales.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

When evaluating market segments, assessment of competitors is important because

Correct AnswerverifiedShow Answer

Alps Ski Co is looking for new markets for both its brick and mortar retail stores and its catalog division. Alps Ski Co would most likely use a(n) ______ base for market segmentation of its stores and a(n) ______ base for market segmentation of its catalog division.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is not a requirement or characteristic of a market?

Correct AnswerverifiedShow Answer

A competitive assessment may reveal that a market segment that initially seemed attractive may not be worth pursuing.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A marketer that uses segmentation to rea...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Alps Ski Co is looking for new markets for both its brick and mortar retail stores and its catalog division. Alps Ski Co would most likely use a(n) base for market segmentation of its stores and a(n) base for market segmentation of its catalog division.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified