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A target market is a market segment that a company directs marketing effort toward in order to attract potential customers to buy its products/services/ideas. 1. True 2. False SMS, 4e – Chapter 7 A target market is a market segment that a company directs marketing effort toward in order to attract potential customers to buy its products/services/ideas. 1. True 2. False SMS, 4e – Chapter 7 The primary purpose of product positioning is to: 1. identify new target segments 2. determine consumer needs 3. evaluate opportunities in the marketplace 4. convey benefits of the product SMS, 4e – Chapter 7 The primary purpose of product positioning is to: 1. identify new target segments 2. determine consumer needs 3. evaluate opportunities in the marketplace 4. convey benefits of the product SMS, 4e – Chapter 7 Baby Boomers are described in a significant dichotomy by marketers. These two groups are: 1. married – not married 2. young – younger 3. younger – older 4. children – no children SMS, 4e – Chapter 7 Baby Boomers are described in a significant dichotomy by marketers. These two groups are: 1. married – not married 2. young – younger 3. younger – older 4. children – no children SMS, 4e – Chapter 7 If men tend to shop for suits alone, then it would be foolish to put _________ in an ad to motivate them to shop for this item. 1. other men shopping 2. their spouse or girlfriend 3. a woman sales clerk 4. a friend SMS, 4e – Chapter 7 If men tend to shop for suits alone, then it would be foolish to put _________ in an ad to motivate them to shop for this item. 1. other men shopping 2. their spouse or girlfriend 3. a woman sales clerk 4. a friend SMS, 4e – Chapter 7 Marketing segmentation is a strategy for dividing a market into similar need groups and meeting these needs with unique and differentiable marketing efforts. 1. True 2. False SMS, 4e – Chapter 7 Marketing segmentation is a strategy for dividing a market into similar need groups and meeting these needs with unique and differentiable marketing efforts. 1. True 2. False SMS, 4e – Chapter 7 Segmented marketing requires targeting products to the specific needs of well-defined customer groups. 1. True 2. False SMS, 4e – Chapter 7 Segmented marketing requires targeting products to the specific needs of well-defined customer groups. 1. True 2. False SMS, 4e – Chapter 7 The two main reasons for segmenting by brand is to target actual purchasers and to identify prospective purchasers. 1. True 2. False SMS, 4e – Chapter 7 The two main reasons for segmenting by brand is to target actual purchasers and to identify prospective purchasers. 1. True 2. False SMS, 4e – Chapter 7 VALS segmentation groups consumers according to their values and norms. 1. True 2. False SMS, 4e – Chapter 7 VALS segmentation groups consumers according to their values and norms. 1. True 2. False SMS, 4e – Chapter 7 Organizational buyers can be segmented behaviorally by the products they buy or the frequency with which they buy. 1. True 2. False SMS, 4e – Chapter 7 Organizational buyers can be segmented behaviorally by the products they buy or the frequency with which they buy. 1. True 2. False SMS, 4e – Chapter 7 When a company offers one basic product without distinguishing between different customer needs and characteristics, this is known as: 1. mass marketing 2. market segmentation 3. benefit segmentation 4. behavioral segmentation 5. segmenting by consumer characteristics SMS, 4e – Chapter 7 When a company offers one basic product without distinguishing between different customer needs and characteristics, this is known as: 1. mass marketing 2. market segmentation 3. benefit segmentation 4. behavioral segmentation 5. segmenting by consumer characteristics SMS, 4e – Chapter 7 A retail store that has one product, one price, and a standard set of inflexible hours is practicing: 1. market segmentation 2. product differentiation 3. mass marketing 4. normative marketing SMS, 4e – Chapter 7 A retail store that has one product, one price, and a standard set of inflexible hours is practicing: 1. market segmentation 2. product differentiation 3. mass marketing 4. normative marketing SMS, 4e – Chapter 7 If a winery that is noted for its “Cabernet” wines branches off into other varieties like “Chardonnay” and “Pinot Noir,” they are probably practicing: 1. mass marketing 2. market segmentation 3. heterogeneous marketing 4. normative marketing SMS, 4e – Chapter 7 If a winery that is noted for its “Cabernet” wines branches off into other varieties like “Chardonnay” and “Pinot Noir,” they are probably practicing: 1. mass marketing 2. market segmentation 3. heterogeneous marketing 4. normative marketing SMS, 4e – Chapter 7 When a soft drink company identifies a weight watcher segment, this is an example of: 1. benefit segmentation 2. behavioral segmentation 3. segmenting by consumer characteristics 4. mass marketing 5. lifestyle segmentation SMS, 4e – Chapter 7 When a soft drink company identifies a weight watcher segment, this is an example of: 1. benefit segmentation 2. behavioral segmentation 3. segmenting by consumer characteristics 4. mass marketing 5. lifestyle segmentation SMS, 4e – Chapter 7 A soft drink company that tries to determine the characteristics of drinkers of caffeine-free brands is engaged in: 1. benefit segmentation 2. behavioral segmentation 3. segmenting by consumer characteristics 4. mass marketing 5. lifestyle segmentation SMS, 4e – Chapter 7 A soft drink company that tries to determine the characteristics of drinkers of caffeine-free brands is engaged in: 1. benefit segmentation 2. behavioral segmentation 3. segmenting by consumer characteristics 4. mass marketing 5. lifestyle segmentation SMS, 4e – Chapter 7 When consumers are grouped according to income, age, sex, or race, this is known as: 1. demographic segmentation 2. product-line segmentation 3. concentrated segmentation 4. lifestyle segmentation 5. personality segmentation SMS, 4e – Chapter 7 When consumers are grouped according to income, age, sex, or race, this is known as: 1. demographic segmentation 2. product-line segmentation 3. concentrated segmentation 4. lifestyle segmentation 5. personality segmentation SMS, 4e – Chapter 7 When Chrysler/Jeep advertises four-wheel drive cars to rural consumers, this is an example of: 1. differentiated segmentation 2. product-line segmentation 3. market-segment expansion 4. concentrated segmentation SMS, 4e – Chapter 7 When Chrysler/Jeep advertises four-wheel drive cars to rural consumers, this is an example of: 1. differentiated segmentation 2. product-line segmentation 3. market-segment expansion 4. concentrated segmentation SMS, 4e – Chapter 7 The ability of a company to reach a segment with media in order to deliver its advertising messages is known as the segment’s: 1. demographics 2. accessibility 3. lifestyle 4. personality characteristics 5. behavioral orientation SMS, 4e – Chapter 7 The ability of a company to reach a segment with media in order to deliver its advertising messages is known as the segment’s: 1. demographics 2. accessibility 3. lifestyle 4. personality characteristics 5. behavioral orientation SMS, 4e – Chapter 7 Targeting one product to one segment is known as: 1. differentiated marketing 2. product-line marketing 3. market-segment expansion 4. concentrated marketing SMS, 4e – Chapter 7 Targeting one product to one segment is known as: 1. differentiated marketing 2. product-line marketing 3. market-segment expansion 4. concentrated marketing SMS, 4e – Chapter 7 A perceptual map allows marketers to identify consumers’ perceptions of their brand in relation to the competition. 1. True 2. False SMS, 4e – Chapter 7 A perceptual map allows marketers to identify consumers’ perceptions of their brand in relation to the competition. 1. True 2. False SMS, 4e – Chapter 7 In customer relationship management (CRM), a customer’s value is based on a single transaction. 1. True 2. False SMS, 4e – Chapter 7 In customer relationship management (CRM), a customer’s value is based on a single transaction. 1. True 2. False SMS, 4e – Chapter 7 The potential profit generated by a single customer’s purchase of a firm’s products over the customer’s lifetime is the market share for that customer. 1. True 2. False SMS, 4e – Chapter 7 The potential profit generated by a single customer’s purchase of a firm’s products over the customer’s lifetime is the market share for that customer. 1. True 2. False SMS, 4e – Chapter 7 CRM success depends upon how well the company has implemented the marketing concept. 1. True 2. False SMS, 4e – Chapter 7 CRM success depends upon how well the company has implemented the marketing concept. 1. True 2. False SMS, 4e – Chapter 7 When a marketing plan is implemented, most likely repositioning will be unnecessary. 1. True 2. False SMS, 4e – Chapter 7 When a marketing plan is implemented, most likely repositioning will be unnecessary. 1. True 2. False SMS, 4e – Chapter 7 A segmentation technique that combines geography with demographics is: 1. VALS 2. behavioral segmentation 3. geodemography 4. psychodemographics SMS, 4e – Chapter 7 A segmentation technique that combines geography with demographics is: 1. VALS 2. behavioral segmentation 3. geodemography 4. psychodemographics SMS, 4e – Chapter 7 A description of the “typical” customer in a segmentation is a(n): 1. segment profile 2. undifferentiated targeting strategy 3. differentiated target 4. target market SMS, 4e – Chapter 7 A description of the “typical” customer in a segmentation is a(n): 1. segment profile 2. undifferentiated targeting strategy 3. differentiated target 4. target market SMS, 4e – Chapter 7 Market fragmentation occurs when: 1. a larger market is divided into smaller pieces 2. the total market is divided into different segments 3. new products are developed to meet the needs of specific audiences 4. people’s diverse interests and backgrounds divide them into numerous groups with distinct needs and wants SMS, 4e – Chapter 7 Market fragmentation occurs when: 1. a larger market is divided into smaller pieces 2. the total market is divided into different segments 3. new products are developed to meet the needs of specific audiences 4. people’s diverse interests and backgrounds divide them into numerous groups with distinct needs and wants SMS, 4e – Chapter 7 The cosmetics company Hard Candy sells its funky line of nail polish and other products only to “twentysomething” women. This is an example of: 1. concentrated targeting strategy 2. custom marketing strategy 3. mass customization 4. segment profile SMS, 4e – Chapter 7 The cosmetics company Hard Candy sells its funky line of nail polish and other products only to “twentysomething” women. This is an example of: 1. concentrated targeting strategy 2. custom marketing strategy 3. mass customization 4. segment profile SMS, 4e – Chapter 7 The 80/20 rule affirms that: 1. 20 percent of purchases account for 80 percent of a product’s sales 2. 80 percent of consumers are unhappy 20 percent of the time 3. 20 percent of sales increase by 80 percent every year 4. For every 80 first time users of a product, only 20 will repeat buy SMS, 4e – Chapter 7 The 80/20 rule affirms that: 1. 20 percent of purchases account for 80 percent of a product’s sales 2. 80 percent of consumers are unhappy 20 percent of the time 3. 20 percent of sales increase by 80 percent every year 4. For every 80 first time users of a product, only 20 will repeat buy SMS, 4e – Chapter 7 The process of dividing a larger market into smaller pieces based on one or more distinctive, shared characteristics is called: 1. segmentation 2. segregation 3. fragmentation 4. separation SMS, 4e – Chapter 7 The process of dividing a larger market into smaller pieces based on one or more distinctive, shared characteristics is called: 1. segmentation 2. segregation 3. fragmentation 4. separation SMS, 4e – Chapter 7