Question 1

In evaluating different market segments,a firm must look at three factors: segment size and growth,segment structural attractiveness,and company objectives and resources.

Accepted Answer

This statement is true. A firm must consider segment size and growth, segment structural attractiveness, and company objectives and resources when evaluating different market segments.

Question 2

At a recent marketing seminar,the featured speaker stated that a target market consists of a set of buyers who share common needs or characteristics that the company decides to serve.This is a correct definition.

Accepted Answer

The definition provided accurately captures the concept of a target market, which refers to a group of consumers who possess similar needs, preferences, or demographics that a company seeks to satisfy through its products or services. By identifying and understanding the characteristics of its target market, a company can tailor its marketing strategies and activities to better meet their needs and increase its chances of success in the marketplace.

Question 3

When a company chooses a target marketing strategy,its choices are influenced by factors related to company resources,the degree of product variability and the product's life-cycle stage.

Accepted Answer

The statement is true. When selecting a target marketing strategy, a company considers its resources, the degree of product variability, and the product's life-cycle stage.

Question 4

Cigarette,beer and fast-food marketers have generated much controversy in recent years by their attempts to target ________.
A)the elderly
B)white-collar workers
C)low-income minorities
D)multiple international markets
E)outer suburban adults

Accepted Answer

Cigarette, beer and fast-food marketers have been criticized for targeting low-income minorities, often using tactics such as aggressive advertising and pricing strategies. This has raised concerns about health disparities and the ethical implications of targeting vulnerable populations.

Question 5

The ________ makes it more profitable to serve minuscule niches.

Accepted Answer

The answer of The ________ makes it more profitable to...

Question 6

Using ________,companies tailor their marketing programs to the needs and wants of narrowly defined geographic,demographic,psychographic,behaviour or benefit segments.

Accepted Answer

The answer of Using ________,companies tailor their marketing programs to...

Question 7

In ________ marketing,an organisation goes after a large share of one or a few submarkets.

Accepted Answer

The answer of In ________ marketing,an organisation goes after a...

Question 8

Though the use of mass marketing has been widespread,for centuries consumers were served as individuals as businesses practiced individual marketing.

Accepted Answer

Before the advent of mass marketing, businesses often catered to individual customers' needs, providing personalized services and products, a practice that is akin to today's individual or one-to-one marketing strategies.

Question 9

In target marketing,the issue is not really who is targeted,but rather ________ and for ________.
A)why;what
B)how;what
C)why;how long
D)where;how long
E)how;where

Accepted Answer

The issue in target marketing is not just about identifying who is being targeted, but also how they are being targeted and what product or service is being offered. This means that the choices involving "why" and "how long" are not relevant to the issue at hand, while choosing between "where" and "how" is a bit ambiguous as both factors can be important in target marketing.

Question 10

Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger companies.

Accepted Answer

Niche marketing involves targeting a small segment of the market, which can be overlooked by large companies focused on mass marketing. By focusing on a specific niche, smaller companies can compete and serve the needs of this segment better than larger companies.

Question 11

Most marketing targeted at children,minorities or other special segments provides benefits to targeted consumers.

Accepted Answer

Marketing targeted at specific segments aims to provide benefits to those consumers, whether it be tailored products, discounts, or relevant messaging. However, some critics argue that targeting vulnerable or impressionable populations, such as children, can have negative consequences.

Question 12

Some critics of marketing worry that premium offers and high-powered advertising appeals presented through the mouths of lovable animated characters will overwhelm children's ________.

Accepted Answer

The answer of Some critics of marketing worry that premium...

Question 13

Mass marketing is becoming the marketing principle for the 21ˢᵗ century.

Accepted Answer

Mass marketing, which involves targeting a large and diverse audience with a standardized marketing approach, is becoming less effective in the 21ˢᵗ century due to the rise of segmented and personalized marketing strategies. Instead, companies are focusing on identifying specific customer segments and tailoring their marketing efforts to those groups.

Question 14

To encourage responsible advertising,the Australian Association of National Advertisers (AANA)publishes a ________.

Accepted Answer

The answer of To encourage responsible advertising,the Australian Association of...

Question 15

In ________ marketing,an organisation designs separate offers for each of the identified target markets.

Accepted Answer

The answer of In ________ marketing,an organisation designs separate offers...

Question 16

In ________ marketing,an organisation ignores market segment differences and creates a single offer for the whole market.

Accepted Answer

The answer of In ________ marketing,an organisation ignores market segment...

Question 17

________ marketers may send tailor-made deceptive messages directly to the computers of millions of unsuspecting consumers despite spam filters and government legislation.

Accepted Answer

The answer of ________ marketers may send tailor-made deceptive messages...

Question 18

Developing a stronger position within several segments creates more total sales than undifferentiated marketing across all segments.

Accepted Answer

By focusing on specific segments and developing a stronger position in those segments, a company can better meet the needs and preferences of those customers, leading to increased sales within those segments. This targeted approach can be more effective than trying to appeal to a broad range of customers with undifferentiated marketing efforts.

Question 19

Because Cruise Ships International currently has limited financial and personnel resources,it should avoid concentrated or niche marketing until resources are again substantial.

Accepted Answer

Concentrated or niche marketing can be highly effective for companies with limited resources because it allows them to focus their efforts on a specific segment of the market where they can meet unique needs, differentiate themselves from competitors, and achieve a stronger market presence without the need for extensive resources.

Question 20

A(n)________ market is a set of buyers with common needs or characteristics that a company decides to serve.

Accepted Answer

The answer of A(n)________ market is a set of buyers...

Quiz 6: Customer-Driven Marketing Strategy: Creating Value for Target Customers