QUESTION 1 The purpose of market segmentation is to: a.  reduce…

QUESTION 1

• The purpose of market segmentation is to:
• a.  reduce the market down to a specific size that the firm can handle
• b.  divide the market into equal size and profit regions for sales territories
• c. group a large number of markets together enabling a company to serve them simultaneously
• d.  develop a generalized definition of the market as a whole
• e.  enable the marketer to tailor marketing mixes to meet the needs of one or more specific groups

•  

5 points   

QUESTION 2

• Marketers use _____ to segment markets because this information is widely available, and factors such as age or gender are often related to consumer purchasing and consumption behavior.
• a.  benefits
• b.  psychographics
• c.  demographics
• d.  usage rates
• e.  socio cultural attributes

•  

5 points   

QUESTION 3

• _____ segmentation is based on personality, motives, and lifestyle.
• a.  Psychographic
• b.  Demographic
• c.  Benefit
• d.  Family life cycle
• e.  Character

•  

5 points   

QUESTION 4

• Women in the market can be classified as
• a. market segmentation.
• b. a marketing mix.
• c. a market segment.
• d. an independent market.
• e. a producer market.

•  

5 points   

QUESTION 5

• In selecting a target market, marketing managers should
• a. examine their present market for behaviors that are unique.
• b. ignore last year’s sales and profits, if it was a bad year.
• c. determine whether the firm has the resources to produce a marketing mix.
• d. analyze the strengths and numbers of their best customers.
• e. disregard the competitors already marketing to your market.

•  

5 points   

QUESTION 6

• When factors such as climate, city size, rural, and urban are used as indicators, the type of market segmentation is called
• a. geographic.
• b. behaviorists.
• c. psychographic.
• d. demographic.
• e. educational.

•  

5 points   

QUESTION 7

• _____ are eager to try new ideas and products. They typically have higher incomes, are better educated, and are more cosmopolitan than other categories of adopters.
• a.  Early adopters
• b.  Innovators
• c.  Early majority
• d.  Late majority
• e.  Laggards

•  

5 points   

QUESTION 8

• The stages of the product life cycle, in order, are:
• a.  introduction, maturity, decline
• b.  introduction, growth, maturity, decline
• c.  growth, maturity, plateau, decline
• d.  innovation, early adoption, late adoption, laggard
• e.  category acceptance, category growth, brand acceptance, brand growth

•  

5 points   

QUESTION 9

• The four common bases of market segmentation are demographic, strategic, geographic, and discretionary.
   True
   False

   

5 points   

QUESTION 10

• The undifferentiated approach to marketing assumes that consumers have similar needs.
   True
   False

   

5 points   

QUESTION 11

• When the Ford Motor Company focuses its advertising for the Explorer on the population between the ages of 20 and 34, it is targeting a market.
   True
   False

   

5 points   

QUESTION 12

• An elementary school teacher purchased a ream of art paper, a box of crayons, and some modeling clay. The teacher intends to use these products in her classroom, so they would be classified as business products.
   True
   False

   

5 points   

QUESTION 13

• A product unknown to the potential buyer, or a known-product that the buyer does not actively seek is referred to as an undesirable product.
   True
   False

   

5 points   

QUESTION 14

• The product life cycle concept encourages marketing managers to act reactively.
   True
   False

   

5 points   

QUESTION 15

• Match the appropriate statement to the term. Each term should only be used once.