Question 1

Tesla wanted to break into the electric vehicle (EV) marketplace with a luxury sports model.At that time,economic value was more highly prized than form and function.Therefore,Tesla chose not to compete with the other brands' successful luxury hybrids and targeted the high-end market for electric vehicles.Which base did Tesla use to position itself in the market?

Accepted Answer

A)   Price and quality
B)   Attribute
C)   Competitor
D)   Emotion

Question 2

Which of the following is true of usage-rate segmentation?

Accepted Answer

A)   It combines former users,potential users,first-time users,light or irregular users,medium users,and heavy users.
B)   Categories of products do not vary with the product in user-rate segmentation.
C)   Heavy users often change their preferences.
D)   It groups potential customers on the basis of their personality,motives,and lifestyles.

Question 3

Which of the following statements is true of lifestyle segmentation?

Accepted Answer

A)   It divides people into groups based on their traits,attitudes,and habits.
B)   It divides a market by the amount of product bought or consumed.
C)   It divides people into market segments according to the benefits they seek from a product.
D)   It divides people into groups based on socioeconomic characteristics such as income and education.

Question 4

This demographic group belonged to the Great Depression generation and had the ability to quietly persevere through great hardships.They were taught to play by the rules and tend to be cautious and are the healthiest,most educated,and wealthiest group of elders.Identify which demographic group is described.

Accepted Answer

A)   The silent generation
B)   The sandwich generation
C)   Generation Z
D)   Generation Y

Question 5

A ____________segmentation has the advantage of being simpler and easier to use.

Accepted Answer

A)   single-variable
B)   double-variable
C)   triple-variable
D)   multiple-variable

Question 6

As a commitment to diversity and inclusion,Bank of America partnered with the American Ad Council on a campaign known as "Love Has No Labels." The campaign was a roaring success as it touched upon which positioning base of its audience?

Accepted Answer

A)   Responsiveness
B)   Personality
C)   Emotion
D)   Attribute

Question 7

Market segmentation helps marketers define customer needs and wants more precisely because market segments do not differ in size and potential.

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

The key tool in the marketing strategy of every successful organization for reaching the targeted customer is:

Accepted Answer

A)   planning the marketing strategy.
B)   improving marketing premises.
C)   market segmentation.
D)   market criteria.

Question 10

In the context of family life cycle segmentation,which of the following statements is true?

Accepted Answer

A)   Young divorced couples without children have the lowest purchase rate.
B)   Middle-aged married couples with or without children have high average purchase of durables.
C)   Young married couples with children have high liquid assets.
D)   Middle-aged divorced couples without dependent children are least satisfied with their financial position.

Question 11

Laelle is a confectionery company that manufactures candies.It does not use specific strategies to target children when marketing its products.Instead it uses the same strategies to promote its candies among all consumers in the market.In this scenario,Laelle uses a(n) _____.

Accepted Answer

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

Question 12

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

Accepted Answer

A)   It allows a firm to serve two or more well-defined market segments simultaneously.
B)   It is often adopted by small firms to compete effectively with much larger firms.
C)   It follows a mass-market philosophy by viewing the market as one big market without any individual segments.
D)   It results in cannibalization of products.

Question 13

Unilever is a multinational corporation selling consumer goods under various categories such as foods,beverages,cleaning agents,and personal care products.This is an example of:

Accepted Answer

A)   product user.
B)   product class.
C)   product differentiation.
D)   repositioning.

Question 14

Which statement is true of market segmentation?

Accepted Answer

A)   It helps marketers design marketing mixes that match the characteristics of one or more segments.
B)   It allows marketers to use an undifferentiated targeting strategy.
C)   It allows marketers to adopt a single marketing mix across all market segments.
D)   It helps marketers focus on satisfying customer needs.

Question 15

Which of the following is a psychographic segmentation variable?

Accepted Answer

A)   Usage rate of a product
B)   Geodemographics
C)   Gender
D)   Ethnicities

Question 16

The purpose of market segmentation is to:

Accepted Answer

A)   change consumer attitudes and beliefs toward a product.
B)   divide a market into submarkets of equal size and equal number of customers.
C)   eliminate the need for developing marketing objectives.
D)   enable a marketer to tailor marketing mixes to meet the needs of one or more specific segments.

Question 17

Chipotle has become popular with a variety of people.It recently identified a primary customer segment in Millennials.To win over this demographic group,traditional media is less authentic in the perception of Millennials,therefore,Chipotle does not use traditional media,and its marketing and promotion focus on maintaining a large online and social media presence.Here Chipotle is likely to use:

Accepted Answer

A)   undifferentiated targeting.
B)   concentrated targeting.
C)   multisegment targeting.
D)   differentiated marketing.

Question 18

Starlight Jewelry sends Lauren a birthday card along with a pendant as a token of appreciation for shopping frequently at its store.This trend in customer relationship management aims at cultivating its customers by _____.

Accepted Answer

A)   acknowledging their loyalty
B)   implementing technology
C)   providing time savings
D)   offering standardization

Question 19

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

Accepted Answer

A)   results in cannibalization of products.
B)   involves the selection of a market niche to target the marketing efforts of a firm.
C)   views the market as one big market with no individual segments.
D)   reduces the production and marketing costs of a firm.

Question 20

A dynamic segmentation approach adjusts to fit the changes that occur in customers' lives.

Accepted Answer

A) True 
 B)False

Exam 8: Segmenting and Targeting Markets

Laelle is a confectionery company that manufactures candies.It does not use specific strategies to target children when marketing its products.Instead it uses the same strategies to promote its candies among all consumers in the market.In this scenario,Laelle uses a(n) _____.

Correct Answer
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Unilever is a multinational corporation selling consumer goods under various categories such as foods,beverages,cleaning agents,and personal care products.This is an example of:

Correct Answer
verified

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

Correct Answer
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The purpose of market segmentation is to:

Correct Answer
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In the context of family life cycle segmentation,which of the following statements is true?

Correct Answer
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Correct Answer
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A ____________segmentation has the advantage of being simpler and easier to use.

Correct Answer
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Which statement is true of market segmentation?

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

Correct Answer
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The key tool in the marketing strategy of every successful organization for reaching the targeted customer is:

Correct Answer
verified

Which of the following is true of usage-rate segmentation?

Correct Answer
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A dynamic segmentation approach adjusts to fit the changes that occur in customers' lives.

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Market segmentation helps marketers define customer needs and wants more precisely because market segments do not differ in size and potential.

Correct Answer
verified

Which of the following statements is true of lifestyle segmentation?

Correct Answer
verified

Starlight Jewelry sends Lauren a birthday card along with a pendant as a token of appreciation for shopping frequently at its store.This trend in customer relationship management aims at cultivating its customers by _____.

Correct Answer
verified

Which of the following is a psychographic segmentation variable?

Correct Answer
verified

As a commitment to diversity and inclusion,Bank of America partnered with the American Ad Council on a campaign known as "Love Has No Labels." The campaign was a roaring success as it touched upon which positioning base of its audience?

Correct Answer
verified

Exam 8: Segmenting and Targeting Markets

Laelle is a confectionery company that manufactures candies.It does not use specific strategies to target children when marketing its products.Instead it uses the same strategies to promote its candies among all consumers in the market.In this scenario,Laelle uses a(n) _____.

Correct AnswerverifiedShow Answer

Unilever is a multinational corporation selling consumer goods under various categories such as foods,beverages,cleaning agents,and personal care products.This is an example of:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The purpose of market segmentation is to:

Correct AnswerverifiedShow Answer

In the context of family life cycle segmentation,which of the following statements is true?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A ____________segmentation has the advantage of being simpler and easier to use.

Correct AnswerverifiedShow Answer

Which statement is true of market segmentation?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The key tool in the marketing strategy of every successful organization for reaching the targeted customer is:

Correct AnswerverifiedShow Answer

Which of the following is true of usage-rate segmentation?

Correct AnswerverifiedShow Answer

A dynamic segmentation approach adjusts to fit the changes that occur in customers' lives.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Market segmentation helps marketers define customer needs and wants more precisely because market segments do not differ in size and potential.

Correct AnswerverifiedShow Answer

Which of the following statements is true of lifestyle segmentation?

Correct AnswerverifiedShow Answer

Starlight Jewelry sends Lauren a birthday card along with a pendant as a token of appreciation for shopping frequently at its store.This trend in customer relationship management aims at cultivating its customers by _____.

Correct AnswerverifiedShow Answer

Which of the following is a psychographic segmentation variable?

Correct AnswerverifiedShow Answer

As a commitment to diversity and inclusion,Bank of America partnered with the American Ad Council on a campaign known as "Love Has No Labels." The campaign was a roaring success as it touched upon which positioning base of its audience?

Correct AnswerverifiedShow Answer

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