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| 1 | |
Market segmentation involves aggregating prospective buyers into groups that have common needs and will: |
| | A) | pay attention to marketing messages. |
| | B) | respond similarly to a marketing action. |
| | C) | be responsive to marketing research. |
| | D) | use the same payment methods. |
| | E) | go shopping on a regular basis. |
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| 2 | |
There is a large Chinese population in British Columbia. The Hong Kong Bank of Canada (HKBC) tries to design its services to attract first-generation Chinese. HKBC uses a _____ strategy. |
| | A) | market aggregation |
| | B) | harvesting |
| | C) | mass marketing |
| | D) | market segmentation |
| | E) | product development |
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| 3 | |
Laws require children under a certain age to ride in car seats, but not all children are the same size and not all cars are made the same. As a result, it is sometimes difficult to determine whether the child is riding in the best seat. Nissan has launched a safety initiative on its Internet websites, Snug Kids, to provide parents with specific information to help them find the right child seat for their Nissan or Infiniti product lines. This is an example of a __________ strategy. |
| | A) | repositioning |
| | B) | harvesting |
| | C) | market aggregation |
| | D) | product differentiation |
| | E) | targeted differentiation |
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| 4 | |
Marketers use market segmentation to: |
| | A) | link market needs to an organization's marketing program. |
| | B) | develop specific marketing actions related to product or price. |
| | C) | develop specific marketing actions related to advertising. |
| | D) | increase overall sales, profits and/or other organizational goals. |
| | E) | do all of the above. |
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| 5 | |
When a firm produces only a single product or service and attempts to sell it to two or more market segments, it avoids __________, which often leads to extremely high research, engineering, and manufacturing expenses. |
| | A) | the extra cost of developing and producing additional versions of the product |
| | B) | a service gap |
| | C) | indirect distribution and logistics problems |
| | D) | strategic planning |
| | E) | amortization costs |
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| 6 | |
The ultimate criterion for an organization's marketing success in customer relationship management is that __________ as a result of increased synergies. |
| | A) | investors should make more money |
| | B) | executives should get larger salaries |
| | C) | products should be made more cheaply |
| | D) | customers should be better off |
| | E) | the government should collect more taxes |
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| 7 | |
Modern Maturity magazine is a publication that is sent to all AARP members (who by organization definition have to be at least 50-years-old to join). The market segment for Modern Maturity magazine was defined by: |
| | A) | usage rates. |
| | B) | usage patterns. |
| | C) | buyer situations. |
| | D) | demographic characteristics. |
| | E) | psychographic characteristics. |
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| 8 | |
Points North is a magazine targeted to consumers who live on the northside of Atlanta, Georgia. Given this information, you know its publisher selected its readership through __________ segmentation. |
| | A) | geographic |
| | B) | demographic |
| | C) | socioeconomic |
| | D) | benefits sought |
| | E) | behavior |
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| 9 | |
Nyquil advertises that it alleviates "the nighttime, sniffling, sneezing, coughing, aching, stuffy head, fever" and helps you get the rest you need to get better. Nyquil uses a segmentation strategy based on __________ variables. |
| | A) | geographic |
| | B) | socioeconomic |
| | C) | behavioral |
| | D) | product knowledge |
| | E) | demographic |
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| 10 | |
The target market for cooking books is predominantly female and over 25 while the readership for comic books is mainly males between the ages of 15 to 25. This is important __________ information for a publisher to know. |
| | A) | geographic |
| | B) | demographic |
| | C) | socioeconomic |
| | D) | benefits sought |
| | E) | behavior |
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| 11 | |
Department stores often use Claritas to understand the lifestyles of consumers in nearby neighborhoods. What customer characteristic is being used in this type of segmentation? |
| | A) | demographic |
| | B) | socioeconomic |
| | C) | psychographic |
| | D) | benefits sought |
| | E) | usage |
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| 12 | |
The 80/20 rule is most closely related to which consumer segmentation variable? |
| | A) | geographic |
| | B) | psychographic |
| | C) | benefits sought |
| | D) | behavior |
| | E) | usage |
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| 13 | |
Which of the following variables is NOT commonly used to segment organizational markets? |
| | A) | ownership type |
| | B) | location |
| | C) | NAICS code |
| | D) | benefits sought |
| | E) | number of employees |
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| 14 | |
J. T. Baker is a company that sells mercury spill cleanup products to companies that use mercury in their production process. J.T. Baker sells aspirators for cleaning up larger spills, gloves, scoops, absorbents for eliminating vapors, and a mercury indicator paste for finding small droplets. Any of these supplies can be purchases separately or as a kit. J.T. Baker uses __________ segmentation to sell its products. |
| | A) | benefits sought |
| | B) | buying condition |
| | C) | demographic |
| | D) | geographic |
| | E) | nature of goods |
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| 15 | |
Five general criteria are often used to pick target segments. They include the size of the market, expected growth of the market, competitive position of the firm with respect to the market, and compatibility with the organization's objectives and resources. What is the fifth criterion? |
| | A) | cost of reaching the segment |
| | B) | time required to create awareness |
| | C) | need to conform to government regulations |
| | D) | how long target market members have been customers |
| | E) | amount of publicity likely to result |
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| 16 | |
Hot Topic is a California-based retailer that opened six Torrid plus-size-only retail stores that cater to women aged 15-30. Hot Topic expects its six Torrid stores to achieve US $56 million in revenues in 2005. This US $56 million is a(n): |
| | A) | marketing objective. |
| | B) | market penetration estimate. |
| | C) | market share estimate. |
| | D) | sales forecast. |
| | E) | industry forecast. |
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| 17 | |
Which of the following forecasting techniques would be most accurate for estimating sales revenues for Waste Treatment Inc.'s commercial garbage disposal equipment for next year? |
| | A) | a survey of buyers' intentions forecast |
| | B) | a technological forecast |
| | C) | a jury of expert opinion forecast |
| | D) | a lost-horse forecast |
| | E) | trend extrapolation |
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| 18 | |
Which of the following sales forecasting techniques is the LEAST expensive? |
| | A) | survey of buyers' intentions |
| | B) | jury of executive opinion |
| | C) | trend extrapolation |
| | D) | direct forecast |
| | E) | survey of experts |
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| 19 | |
A perceptual map most closely resembles a: |
| | A) | graph with horizontal and vertical axes. |
| | B) | topographic map. |
| | C) | hierarchical pyramid with the lowest level having many more examples than the top. |
| | D) | cross-tabulation table. |
| | E) | bell curve. |
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| 20 | |
Which of the following is the best example of repositioning? |
| | A) | When sales of Crest toothpaste plateaued, marketers used a bundling strategy to get customers to buy the toothpaste and a toothbrush. |
| | B) | Snickers introduced a dark chocolate version of its original milk chocolate candy bar. |
| | C) | Slow sales of soup led the Campbell Soup Company to promote recipes using soup as a main ingredient. |
| | D) | While continuing to make its computers designed for business purposes, Packard Bell introduced a computer for ultimate consumers. |
| | E) | Starbucks Coffee Company licenses another company to manufacture and market Starbucks coffee-flavored ice cream. |
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