FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 8: Segmenting and Targeting Markets

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 1

Multiple Choice

Review LaterAdd Note

Review Later

_____ is a common base of demographic segmentation.

A) Product benefit
B) Usage rate
C) Geography
D) Income

E) A) and C)
F) A) and B)

Correct Answer

verified

Show Answer

Question 2

Multiple Choice

Review LaterAdd Note

Review Later

A firm using a(n) _____ essentially adopts a mass-market philosophy, viewing the market as one big market with no individual segments.

A) undifferentiated targeting strategy
B) niche targeting strategy
C) individual targeting strategy
D) concentrated targeting strategy

E) B) and C)
F) All of the above

Correct Answer

verified

Show Answer

Question 3

True/False

Review LaterAdd Note

Customers looking for luxury want products that exhibit careful craftsmanship, timeless design, prestige, and exclusivity. This type of market is segmented by ethnicity.

Explain product differentiation as a positioning strategy used by marketers to distinguish their products from competitors.

Promotion is one of the components that forms a marketing mix.

Which of the following statements is true of lifestyle segmentation?

Market segmentation helps decision makers to more accurately define marketing objectives and better allocate resources.

A market segment is a subgroup of people or organizations having different characteristics that cause them to have distinct product needs.

Wester Helix, a watch manufacturing company, is a brand most associated with men. They also manufacture products for women, but these products are less popular. In order to increase the sale of these products, Wester Helix opens a sister company that caters solely to women. In this scenario, Wester Helix uses age segmentation.

How do marketers use customer relationship management (CRM) as a targeting tool?

Cannibalization occurs when the sales of a firm's existing product increase with the introduction of a new product.

Wesley Electronics Inc. is a company that manufactures electronic gadgets. The marketing team of the company spends a great deal of money on advertising in order to create awareness about the company's products among potential customers. It employs various methods of advertising, such as print, broadcast, and online advertising. According to the steps of market segmentation, Wesley Electronics Inc. is most likely:

Which of the following statements is true of a concentrated targeting strategy?

In the context of age segmentation, baby boomers expect everything to be instantaneous because they have never been introduced to a world without the Internet.

A concentrated targeting strategy differs from an undifferentiated targeting strategy in that a concentrated targeting strategy:

Pine Groove, a cosmetics brand that primarily caters to women, wants to reach out to the less-traditional male market. It conducts research and develops a new product especially for men. In this context, Pine Groove uses _____.

_____ is a means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customers' minds.

In the context of age segmentation, the tween and teenage cohort following the Millennials is sometimes called _____.

Companies that successfully implement customer relationship management (CRM) tend to:

Nalpas Inc., an apparel company, manufactures clothes for men, women, and children. It further divides its core customers on the basis of demographic variables such as income, ethnic background, and family life cycle. In this context, these demographic variables are examples of _____.