Question 1

It is likely that during the fifth step of the target market selection process, marketers will decide not to enter and compete in any market segments.

Accepted Answer

A) True 
 B)False

Question 2

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) None of the above
G) B) and E)

Question 3

Estimating the cost of entering a market and focusing on a specific target segment is important because

Accepted Answer

A)  cost estimates are crucial to estimating sales potential accurately.
B)  higher costs will keep other potential competitors from entering that particular segment.
C)  customers are more likely to be attracted to marketers that invest heavily in the target segment.
D)  the organization's marketers need to know if they can reach the segment at costs equal to or below competitors' costs.
E)  higher cost generally ensures long-term success.F) A) and D)
G) C) and E)

Question 4

A market segment profile deals primarily with demographic characteristics.

Accepted Answer

A) True 
 B)False

Question 5

The term market density refers to the number of potential customers per unit of land area, such as per square mile.

Accepted Answer

A) True 
 B)False

Question 6

​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 B)
G) A) and E)

Question 7

Company sales potential is the maximum percentage of market potential that an individual firm within an industry can expect to obtain for a specific product.

Accepted Answer

A) True 
 B)False

Question 8

Budweiser may choose to segment its market based on heavy, moderate, and light drinkers of its alcoholic beverages. This is an example of market segmentation based on

Accepted Answer

A)  behavioristic variables.
B)  benefits.
C)  lifestyles.
D)  psychographic variables.
E)  demographic variables.F) A) and D)
G) D) and E)

Question 9

Alpine Ski Shops is looking for new markets for both its brick and mortar retail stores and its catalog division. Alpine Ski Shops 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 D)
G) A) and E)

Question 10

Lifestyle is a product-related variable.

Accepted Answer

A) True 
 B)False

Question 11

Family life cycle is a psychological dimension used for segmenting markets.

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

Eighteen-year-old students do not form a market for alcoholic beverages because they

Accepted Answer

A)  lack sufficient buying power to form a market.
B)  lack the authority to purchase this type of product.
C)  do not want to purchase this type of product.
D)  do not have sufficient experience with this type of product.
E)  lack the money to purchase this type of product.F) None of the above
G) B) and E)

Question 14

Why do marketers rely heavily on demographic characteristics when segmenting consumer markets?

Accepted Answer

Demographers study aggregate population ...

Question 15

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

Accepted Answer

A)  geographic
B)  demographic
C)  psychographic
D)  environmental
E)  geodemographicF) B) and D)
G) B) and E)

Question 16

If Georgia-Pacific, a producer of home siding, decking, and other wood products, focused its marketing efforts to home construction companies only, it would be using a(n)  ____ strategy. If it sold the same products to both construction companies and DIY retailers such as Home Depot, it would be using a(n)  ____ strategy.

Accepted Answer

A)  undifferentiated; undifferentiated
B)  undifferentiated; differentiated
C)  differentiated; multisegmented
D)  concentrated; differentiated
E)  concentrated; concentratedF) A) and E)
G) All of the above

Question 17

Why would a firm survey its sales force to forecast company sales? Why would a firm choose an expert forecasting survey instead?

Accepted Answer

In a sales force forecasting survey, the...

Question 18

Consideration of the firm's overall objectives usually does not influence the final selection of a target market segment.

Accepted Answer

A) True 
 B)False

Question 19

​Market segment profiles are used to describe _____________ members of a market segment, and to explain ______________members in separate market segments.

Accepted Answer

A)  Differences between; Similarities among
B)  Differences between; Differences between
C)  Similarities among; Similarities among
D)  Preferences among; Preferences among
E)  Similarities among; Differences betweenF) A) and D)
G) All of the above

Question 20

Discuss the difference between sales forecasts and company sales potential. Why is it important for a marketer to be able to forecast sales?

Accepted Answer

After a company selects a target market ...

Exam 6: Target Markets Segmentation and Evaluation

Consideration of the firm's overall objectives usually does not influence the final selection of a target market segment.

Correct Answer
verified

A market segment profile deals primarily with demographic characteristics.

Correct Answer
verified

Why would a firm survey its sales force to forecast company sales? Why would a firm choose an expert forecasting survey instead?

Correct Answer
verified
In a sales force forecasting survey, the...
View Answer

Family life cycle is a psychological dimension used for segmenting markets.

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

Budweiser may choose to segment its market based on heavy, moderate, and light drinkers of its alcoholic beverages. This is an example of market segmentation based on

Correct Answer
verified

Correct Answer
verified

Estimating the cost of entering a market and focusing on a specific target segment is important because

Correct Answer
verified

Discuss the difference between sales forecasts and company sales potential. Why is it important for a marketer to be able to forecast sales?

Correct Answer
verified
After a company selects a target market ...
View Answer

Lifestyle is a product-related variable.

Correct Answer
verified

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

Correct Answer
verified

Eighteen-year-old students do not form a market for alcoholic beverages because they

Correct Answer
verified

Company sales potential is the maximum percentage of market potential that an individual firm within an industry can expect to obtain for a specific product.

Correct Answer
verified

Alpine Ski Shops is looking for new markets for both its brick and mortar retail stores and its catalog division. Alpine Ski Shops 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

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

Correct Answer
verified

Why do marketers rely heavily on demographic characteristics when segmenting consumer markets?

Correct Answer
verified
Demographers study aggregate population ...
View Answer

It is likely that during the fifth step of the target market selection process, marketers will decide not to enter and compete in any market segments.

Correct Answer
verified

Market segment profiles are used to describe _ members of a market segment, and to explain __members in separate market segments.

Correct Answer
verified

The term market density refers to the number of potential customers per unit of land area, such as per square mile.

Correct Answer
verified

Exam 6: Target Markets Segmentation and Evaluation

Consideration of the firm's overall objectives usually does not influence the final selection of a target market segment.

Correct AnswerverifiedShow Answer

A market segment profile deals primarily with demographic characteristics.

Correct AnswerverifiedShow Answer

Why would a firm survey its sales force to forecast company sales? Why would a firm choose an expert forecasting survey instead?

Correct AnswerverifiedIn a sales force forecasting survey, the...View AnswerShow Answer

Family life cycle is a psychological dimension used for segmenting markets.

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

Budweiser may choose to segment its market based on heavy, moderate, and light drinkers of its alcoholic beverages. This is an example of market segmentation based on

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Estimating the cost of entering a market and focusing on a specific target segment is important because

Correct AnswerverifiedShow Answer

Discuss the difference between sales forecasts and company sales potential. Why is it important for a marketer to be able to forecast sales?

Correct AnswerverifiedAfter a company selects a target market ...View AnswerShow Answer

Lifestyle is a product-related variable.

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

Eighteen-year-old students do not form a market for alcoholic beverages because they

Correct AnswerverifiedShow Answer

Company sales potential is the maximum percentage of market potential that an individual firm within an industry can expect to obtain for a specific product.

Correct AnswerverifiedShow Answer

Alpine Ski Shops is looking for new markets for both its brick and mortar retail stores and its catalog division. Alpine Ski Shops 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

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

Correct AnswerverifiedShow Answer

Why do marketers rely heavily on demographic characteristics when segmenting consumer markets?

Correct AnswerverifiedDemographers study aggregate population ...View AnswerShow Answer

It is likely that during the fifth step of the target market selection process, marketers will decide not to enter and compete in any market segments.

Correct AnswerverifiedShow Answer

​Market segment profiles are used to describe _____________ members of a market segment, and to explain ______________members in separate market segments.

Correct AnswerverifiedShow Answer

The term market density refers to the number of potential customers per unit of land area, such as per square mile.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
In a sales force forecasting survey, the...
View Answer

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
After a company selects a target market ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Alpine Ski Shops is looking for new markets for both its brick and mortar retail stores and its catalog division. Alpine Ski Shops 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
Demographers study aggregate population ...
View Answer

Correct Answer
verified

Market segment profiles are used to describe _ members of a market segment, and to explain __members in separate market segments.

Correct Answer
verified

Correct Answer
verified