Question 1

The psychographic variable that includes numerous characteristics related to people's activities, interests, and opinion is

Accepted Answer

A)  motive.
B)  social class.
C)  personality.
D)  stage in family life cycle.
E)  lifestyle.

Question 2

A marketer that targets customers based on marital status and the presence and age of children is using

Accepted Answer

A)  behavioristic segmentation.
B)  lifestyle variables.
C)  psychographic variables.
D)  family life cycle.
E)  phase of life segmentation.

Question 3

Motives can be used to segment markets.

Accepted Answer

A) True 
 B)False

Question 4

Surveys are sometimes used to forecast sales.

Accepted Answer

A) True 
 B)False

Question 5

The final step in the target market selection process is

Accepted Answer

A)  implementing the appropriate marketing mix for the target market.
B)  evaluating relative market segments.
C)  eliminating market segments that are cost prohibitive.
D)  selecting specific target markets.
E)  revising the final segmentation variables based on target selection.

Question 6

Segmentation variables are usually grouped into four categories:

Accepted Answer

A)  demographic, geographic, religion, and income.
B)  geopolitical, income, behavioristic, and psychographic.
C)  attitudes, lifestyles, behaviors, and gender.
D)  geographic, demographic, psychographic, and attitudes.
E)  demographic, geographic, psychographic, and behavioristic.

Question 7

​The marketer uses segmentation variables to divide a market into segments. All of the following statements are true about segmentation variables except:

Accepted Answer

A)  The variables should be related to the customer's needs relative to the product being marketed.
B)  The variables must be measurable.
C)  The variables should be based solely on demographic characteristics.
D)  The variables should be related to the customer's behavior relative to the product being marketed.
E)  The variables should be related to the customer's uses of the product being marketed.

Question 8

Brian works for a manufacturer of sports equipment and is currently developing a company sales forecast for golf clubs. While reviewing data, he discovered a pattern in sales volume over the past ten years that peaked during two months of each year. Brian likely used which sales forecasting technique?

Accepted Answer

A)  the Delphi technique
B)  Executive judgment
C)  Time series analysis
D)  Market tests
E)  Regression analysis

Question 9

Yvonne and Garret are looking at information about how their organization's products could fit potential customers' needs. This information deals with demographic characteristics, product benefits sought, lifestyles, geographic factors, brand preferences, and usage rates. They are most likely looking at

Accepted Answer

A)  the sales force survey results.
B)  the results of sales forecasting.
C)  a market trend analysis.
D)  a market segmentation discrimination analysis.
E)  a market segment profile.

Question 10

The maximum percentage of market potential that an individual firm can expect to obtain for a specific product is the

Accepted Answer

A)  sales forecast.
B)  market potential.
C)  company sales potential.
D)  company sales objective.
E)  market share goal.

Question 11

Justin Franklin's company is interested in locating areas where the average income is high, the average age range is 25-35 years, and the lifestyles of the people involve extreme adventures and dangerous leisure activities. His company would most likely find possible markets through

Accepted Answer

A)  U.S. Census Bureau information.
B)  geographic segmentation variables.
C)  geodemographic segmentation.
D)  climate information.
E)  psychographic segmentation.

Question 12

​____________ is a useful sales forecasting method as long as a precise relationship between past sales figures and one or more variables can be established. Without these relationships, this method is useless in forecasting future sales.

Accepted Answer

A)  Trend analysis
B)  Random factor analysis
C)  Delphi technique
D)  Cycle analysis
E)  Regression analysis

Question 13

Dell segments its business markets into small business, corporate, government agencies, K-12 schools, and higher education institutions. The primary segmentation variable used in this example is

Accepted Answer

A)  geographic location.
B)  type of organization.
C)  secondary product use.
D)  customer size.
E)  market potential.

Question 14

The undifferentiated strategy can be effective for an organization that has a homogeneous market and can develop and maintain a single marketing mix.

Accepted Answer

A) True 
 B)False

Question 15

One problem with using psychographic variables for segmentation purposes is that they are difficult to measure accurately.

Accepted Answer

A) True 
 B)False

Question 16

Mia is pet-sitting for a friend's dog while he is on vacation. Her friend has given Mia all sorts of information, including the veterinarian's name and phone number, pet emergency center location, and the dog's favorite bedtime snack. The first evening of the vacation, Mia realizes that her friend did not bring the dog's food over, and she has no idea what the dog eats. Her friend's cell phone is "out of range" at the moment, so Mia must go to the grocery store and shop for dog food, even though she has never bought it before now. In this case, even though Mia is not a dog owner, she is likely to be part of the market for dog food for all of the following reasons except _______.

Accepted Answer

A)  she has the authority to purchase the dog food.
B)  she possesses the buying power for purchasing dog food.
C)  she has the need or desire for dog food.
D)  her ability to purchase the dog food is questionable.
E)  she is willing to use her buying power.

Question 17

Several conditions must exist for market segmentation to be successful. These conditions include all of the following except

Accepted Answer

A)  the total market should be divided so that segments can be compared on sales potential, costs, and profits.
B)  customers' needs for the product must be homogeneous.
C)  the company must be able to reach the chosen segment with a particular marketing mix.
D)  segments must be identifiable and divisible.
E)  at least one segment must have enough profit potential to justify developing and maintaining a special marketing mix for that segment.

Question 18

Relying on executive judgment for forecasting may be adequate when

Accepted Answer

A)  levels of marketing efforts put forth by competitors vary considerably.
B)  recent events give the executive specific impressions of product demand.
C)  product demand is erratic.
D)  the executive conducts surveys.
E)  the executive has considerable experience and product demand is relatively stable.

Question 19

Compare and contrast the concentrated and differentiated targeting strategies of market segmentation.

Accepted Answer

When an organization directs its marketi...

Question 20

Any group of people who, as individuals or as organizations, have needs for products in a product class and who have the ability, willingness, and authority to buy such products is a(n)

Accepted Answer

A)  business market.
B)  market.
C)  undifferentiated market
D)  segmented market
E)  market variable

Exam 6: Target Markets Segmentation and Evaluation

Motives can be used to segment markets.

Correct Answer
verified

The maximum percentage of market potential that an individual firm can expect to obtain for a specific product is the

Correct Answer
verified

Surveys are sometimes used to forecast sales.

Correct Answer
verified

A marketer that targets customers based on marital status and the presence and age of children is using

Correct Answer
verified

Correct Answer
verified

Any group of people who, as individuals or as organizations, have needs for products in a product class and who have the ability, willingness, and authority to buy such products is a(n)

Correct Answer
verified

The final step in the target market selection process is

Correct Answer
verified

Dell segments its business markets into small business, corporate, government agencies, K-12 schools, and higher education institutions. The primary segmentation variable used in this example is

Correct Answer
verified

Correct Answer
verified

Justin Franklin's company is interested in locating areas where the average income is high, the average age range is 25-35 years, and the lifestyles of the people involve extreme adventures and dangerous leisure activities. His company would most likely find possible markets through

Correct Answer
verified

Segmentation variables are usually grouped into four categories:

Correct Answer
verified

Relying on executive judgment for forecasting may be adequate when

Correct Answer
verified

The marketer uses segmentation variables to divide a market into segments. All of the following statements are true about segmentation variables except:

Correct Answer
verified

The undifferentiated strategy can be effective for an organization that has a homogeneous market and can develop and maintain a single marketing mix.

Correct Answer
verified

The psychographic variable that includes numerous characteristics related to people's activities, interests, and opinion is

Correct Answer
verified

One problem with using psychographic variables for segmentation purposes is that they are difficult to measure accurately.

Correct Answer
verified

Correct Answer
verified

Compare and contrast the concentrated and differentiated targeting strategies of market segmentation.

Correct Answer
verified
When an organization directs its marketi...
View Answer

____________ is a useful sales forecasting method as long as a precise relationship between past sales figures and one or more variables can be established. Without these relationships, this method is useless in forecasting future sales.

Correct Answer
verified

Several conditions must exist for market segmentation to be successful. These conditions include all of the following except

Correct Answer
verified

Exam 6: Target Markets Segmentation and Evaluation

Motives can be used to segment markets.

Correct AnswerverifiedShow Answer

The maximum percentage of market potential that an individual firm can expect to obtain for a specific product is the

Correct AnswerverifiedShow Answer

Surveys are sometimes used to forecast sales.

Correct AnswerverifiedShow Answer

A marketer that targets customers based on marital status and the presence and age of children is using

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Any group of people who, as individuals or as organizations, have needs for products in a product class and who have the ability, willingness, and authority to buy such products is a(n)

Correct AnswerverifiedShow Answer

The final step in the target market selection process is

Correct AnswerverifiedShow Answer

Dell segments its business markets into small business, corporate, government agencies, K-12 schools, and higher education institutions. The primary segmentation variable used in this example is

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Justin Franklin's company is interested in locating areas where the average income is high, the average age range is 25-35 years, and the lifestyles of the people involve extreme adventures and dangerous leisure activities. His company would most likely find possible markets through

Correct AnswerverifiedShow Answer

Segmentation variables are usually grouped into four categories:

Correct AnswerverifiedShow Answer

Relying on executive judgment for forecasting may be adequate when

Correct AnswerverifiedShow Answer

​The marketer uses segmentation variables to divide a market into segments. All of the following statements are true about segmentation variables except:

Correct AnswerverifiedShow Answer

The undifferentiated strategy can be effective for an organization that has a homogeneous market and can develop and maintain a single marketing mix.

Correct AnswerverifiedShow Answer

The psychographic variable that includes numerous characteristics related to people's activities, interests, and opinion is

Correct AnswerverifiedShow Answer

One problem with using psychographic variables for segmentation purposes is that they are difficult to measure accurately.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Compare and contrast the concentrated and differentiated targeting strategies of market segmentation.

Correct AnswerverifiedWhen an organization directs its marketi...View AnswerShow Answer

​____________ is a useful sales forecasting method as long as a precise relationship between past sales figures and one or more variables can be established. Without these relationships, this method is useless in forecasting future sales.

Correct AnswerverifiedShow Answer

Several conditions must exist for market segmentation to be successful. These conditions include all of the following except

Correct AnswerverifiedShow Answer

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The marketer uses segmentation variables to divide a market into segments. All of the following statements are true about segmentation variables except:

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
When an organization directs its marketi...
View Answer

____________ is a useful sales forecasting method as long as a precise relationship between past sales figures and one or more variables can be established. Without these relationships, this method is useless in forecasting future sales.

Correct Answer
verified

Correct Answer
verified