Question 1

Variables such as occasions, loyalty, and usage rate are all related to _________ segmentation.

Accepted Answer

The answer of Variables such as occasions, loyalty, and usage...

Question 2

Stores like Cabela's, REI, and Bass Pro Shops that cater to the interests of outdoor enthusiasts' most likely use what type of segmentation strategy?

Accepted Answer

A)  behavioral segmentation
B)  geographic segmentation
C)  psychographic segmentation
D)  socioeconomic segmentation
E)  demographic segmentationF) A) and B)
G) A) and C)

Question 3

Consumers who have between $100,000 and $250,000 in investable assets are termed mass affluent and are one of the fastest growing segments in the United States.

Accepted Answer

A) True 
 B)False

Question 4

What are the two most commonly used demographic variables used by marketers?

Accepted Answer

A)  age and gender
B)  gender and income
C)  education and family size
D)  family size and age
E)  age and incomeF) C) and D)
G) B) and E)

Question 5

When marketers segment based on psychographics, the market is divided into groups according to

Accepted Answer

A)  family size and marital status.
B)  the reason why the consumer made the purchase.
C)  how convenient the product is for the consumer.
D)  how consumers act toward products.
E)  a consumer's income and interest in the product.F) A) and B)
G) All of the above

Question 6

The four broad segmentation bases that marketers use to divide the market into segments are: substantial, measurable, differentiable, and accessible.

Accepted Answer

A) True 
 B)False

Question 7

The ________ framework measures two dimensions: primary motivation and resources.

Accepted Answer

The answer of The ________ framework measures two dimensions: primary...

Question 8

According to the 2010 U.S. Census, which is the only Southern state that lost seats in the House of Representatives due to population shifts out of the state?

Accepted Answer

A)  Arizona
B)  Texas
C)  Louisiana
D)  Florida
E)  South CarolinaF) C) and D)
G) None of the above

Question 9

What does the criteria accessible mean regarding market segments?

Accepted Answer

A)  Markets should be clearly identified with appropriate strategies developed for each.
B)  Segments must be large enough for the firm to make a profit by serving them.
C)  The size and purchasing power of the segment should be clearly identified.
D)  Marketers must be able to reach and serve the segment.
E)  Marketers should develop strategies that can attract a market to its products.F) All of the above
G) B) and C)

Question 10

Business-to-business firms generally segment their markets according to what three variables?

Accepted Answer

A)  demographic, geographic, and behavioral
B)  price sensitivity, usage rate, and region
C)  market size, customer convenience, and usage rate
D)  demographic, geographic, and psychographic
E)  profit potential, price sensitivity, and demandF) B) and E)
G) A) and C)

Question 11

The second step in deciding how best to position a product is to

Accepted Answer

A)  assess the product's profit potential.
B)  conduct test marketing on the product.
C)  evaluate consumer feedback.
D)  analyze competitors' positions.
E)  clearly define the product's competitive advantage.F) B) and D)
G) All of the above

Question 12

Market ________ helps firms in three ways: by helping to define the needs and wants of the customers most interested in buying the firm's products, by helping to design the specific marketing strategies for the specific segments, and by helping firms decide to allocate their marketing resources in a way that maximizes profit.

Accepted Answer

The answer of Market ________ helps firms in three ways:...

Question 13

It is important for many firms to identify their heavy users because of the rule that 20 percent of heavy users account for _________ percent of the total demand.

Accepted Answer

The answer of It is important for many firms to...

Question 14

Consumers of _________ marketing products typically have very specialized needs and will pay higher prices to meet those needs.

Accepted Answer

The answer of Consumers of _________ marketing products typically have...

Question 15

Psychographic segmentation involves categorizing customers based on what they actually do with their goods and services.

Accepted Answer

A) True 
 B)False

Question 16

Read the following statements to select which one is accurate regarding the use of social media in market segmentation.

Accepted Answer

A)  Social media is not very helpful in segmenting markets, but it can be a useful tool for marketers once the market has already been segmented.
B)  As of yet, social media has not been proven to be an effective tool for segmenting markets.
C)  As compared to traditional segmenting techniques, it is easier to know exactly how to engage consumers on social networking sites.
D)  By segmenting the market by those who are active on social media, companies can connect with a larger and more diverse consumer base.
E)  Social media is most helpful in reaching out to older Americans and senior citizens.F) B) and E)
G) None of the above

Question 17

A psychographic segmentation variable that divides people into groups based on their opinion and the interests and activities they pursue is called

Accepted Answer

A)  behavioral segmentation.
B)  social segmentation.
C)  psychological segmentation.
D)  socioeconomic segmentation.
E)  lifestyle segmentation.F) A) and C)
G) B) and E)

Question 18

_________ segmentation is often the most difficult to use because it is not only expensive but also time-consuming.

Accepted Answer

The answer of _________ segmentation is often the most difficult...

Question 19

Undifferentiated targeting is a strategy that

Accepted Answer

A)  simultaneously pursues several different market segments with a different strategy for each.
B)  approaches the marketplace as one large segment.
C)  involves pursuing a large share of a small market.
D)  uses a different marketing strategy for each segment.
E)  markets the same product to multiple regions.F) A) and B)
G) None of the above

Question 20

_________ segmentation information, such as age or income (which is typically easy to acquire), may be slow in coming or completely unavailable in international markets.

Accepted Answer

The answer of _________ segmentation information, such as age or...

Exam 7: Segmentation, Targeting, and Positioning

Read the following statements to select which one is accurate regarding the use of social media in market segmentation.

Correct Answer
verified

It is important for many firms to identify their heavy users because of the rule that 20 percent of heavy users account for _________ percent of the total demand.

Correct Answer
verified

Psychographic segmentation involves categorizing customers based on what they actually do with their goods and services.

Correct Answer
verified

Stores like Cabela's, REI, and Bass Pro Shops that cater to the interests of outdoor enthusiasts' most likely use what type of segmentation strategy?

Correct Answer
verified

The four broad segmentation bases that marketers use to divide the market into segments are: substantial, measurable, differentiable, and accessible.

Correct Answer
verified

When marketers segment based on psychographics, the market is divided into groups according to

Correct Answer
verified

_________ segmentation information, such as age or income (which is typically easy to acquire), may be slow in coming or completely unavailable in international markets.

Correct Answer
verified

The second step in deciding how best to position a product is to

Correct Answer
verified

A psychographic segmentation variable that divides people into groups based on their opinion and the interests and activities they pursue is called

Correct Answer
verified

_________ segmentation is often the most difficult to use because it is not only expensive but also time-consuming.

Correct Answer
verified

Business-to-business firms generally segment their markets according to what three variables?

Correct Answer
verified

Correct Answer
verified

What are the two most commonly used demographic variables used by marketers?

Correct Answer
verified

According to the 2010 U.S. Census, which is the only Southern state that lost seats in the House of Representatives due to population shifts out of the state?

Correct Answer
verified

Undifferentiated targeting is a strategy that

Correct Answer
verified

What does the criteria accessible mean regarding market segments?

Correct Answer
verified

Variables such as occasions, loyalty, and usage rate are all related to _________ segmentation.

Correct Answer
verified

Consumers of _________ marketing products typically have very specialized needs and will pay higher prices to meet those needs.

Correct Answer
verified

Consumers who have between $100,000 and $250,000 in investable assets are termed mass affluent and are one of the fastest growing segments in the United States.

Correct Answer
verified

The ________ framework measures two dimensions: primary motivation and resources.

Correct Answer
verified

Exam 7: Segmentation, Targeting, and Positioning

Read the following statements to select which one is accurate regarding the use of social media in market segmentation.

Correct AnswerverifiedShow Answer

It is important for many firms to identify their heavy users because of the rule that 20 percent of heavy users account for _________ percent of the total demand.

Correct AnswerverifiedShow Answer

Psychographic segmentation involves categorizing customers based on what they actually do with their goods and services.

Correct AnswerverifiedShow Answer

Stores like Cabela's, REI, and Bass Pro Shops that cater to the interests of outdoor enthusiasts' most likely use what type of segmentation strategy?

Correct AnswerverifiedShow Answer

The four broad segmentation bases that marketers use to divide the market into segments are: substantial, measurable, differentiable, and accessible.

Correct AnswerverifiedShow Answer

When marketers segment based on psychographics, the market is divided into groups according to

Correct AnswerverifiedShow Answer

_________ segmentation information, such as age or income (which is typically easy to acquire), may be slow in coming or completely unavailable in international markets.

Correct AnswerverifiedShow Answer

The second step in deciding how best to position a product is to

Correct AnswerverifiedShow Answer

A psychographic segmentation variable that divides people into groups based on their opinion and the interests and activities they pursue is called

Correct AnswerverifiedShow Answer

_________ segmentation is often the most difficult to use because it is not only expensive but also time-consuming.

Correct AnswerverifiedShow Answer

Business-to-business firms generally segment their markets according to what three variables?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What are the two most commonly used demographic variables used by marketers?

Correct AnswerverifiedShow Answer

According to the 2010 U.S. Census, which is the only Southern state that lost seats in the House of Representatives due to population shifts out of the state?

Correct AnswerverifiedShow Answer

Undifferentiated targeting is a strategy that

Correct AnswerverifiedShow Answer

What does the criteria accessible mean regarding market segments?

Correct AnswerverifiedShow Answer

Variables such as occasions, loyalty, and usage rate are all related to _________ segmentation.

Correct AnswerverifiedShow Answer

Consumers of _________ marketing products typically have very specialized needs and will pay higher prices to meet those needs.

Correct AnswerverifiedShow Answer

Consumers who have between $100,000 and $250,000 in investable assets are termed mass affluent and are one of the fastest growing segments in the United States.

Correct AnswerverifiedShow Answer

The ________ framework measures two dimensions: primary motivation and resources.

Correct AnswerverifiedShow Answer

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