Question 1

When Henry Ford first made the model T,he said consumers "can have any color they want as long as it is black." This was a case of _____.

Accepted Answer

An undifferentiated targeting strategy views the market as a whole without individual segments and uses a single marketing mix.

Question 2

Piper Corporation makes aircrafts.It produces several different planes for three categories of customer: Professional,Personal,and Trainer.What type of targeting strategy is Piper using?

Accepted Answer

Piper has chosen three specific markets to target,which is characteristic of a multisegment targeting strategy.

Question 3

All of the following are advantages of using a concentrated targeting strategy EXCEPT:

Accepted Answer

Cannibalization is a disadvantage of multisegment targeting. See Exhibit 8.5.

Question 4

When a firm serves two or more well-defined market segments with a distinct marketing mix for each,it is using a(n)_____ targeting strategy.

Accepted Answer

A firm that chooses to serve two or more well-defined market segments and develops a distinct marketing mix for each has a multisegment targeting strategy.

Question 5

The debate over gay marriages is causing a great deal of furor,but it has done little to deplete the importance of the affluent gay market to businesses.Georgia Pacific and Mitchell Gold,a furniture manufacturer,are two companies that have implemented and maintained marketing mixes designed to meet the needs of lesbians and gays.To these companies and others,lesbians and gays are a desirable:

Accepted Answer

A target market is a group of people for which an organization designs,implements,and maintains a marketing mix.

Question 6

Pharmaceutical firms market many brands of cold remedies with highly similar ingredients.The primary difference among the brands is their promotions that emphasize that various brands will treat different symptoms,such as runny noses,headaches,and fever.This is one way to practice:

Accepted Answer

Different promotional appeals rather than completely different marketing mixes may be used as the basis for a multisegment strategy.

Question 7

Sure Fit,Inc.has begun a rebranding strategy to let customers know it no longer only produces slipcovers,but now also carries a line of rugs,window treatments,and bedding.Its _____ is described as women with average annual household income of $60,000 or more.

Accepted Answer

The target market is a group of people or organizations for which an organization designs,implements,and maintains a marketing mix intended to meet the needs of that group.

Question 8

Candace Popwell makes and markets Festive Holiday Truffles candy.The confectionary company owner views the world as one big market with no individual segments and tries to reach it with only one marketing mix.Her essentially mass-market philosophy indicates she probably uses a(n)_____ strategy.

Accepted Answer

With an undifferentiated targeting strategy,the market is viewed as one big market with no individual segments and uses a single marketing mix.

Question 9

A(n)_____ is a group of people or organizations for whom an organization designs,implements,and maintains a marketing mix intended to meet the needs of that group,resulting in mutually satisfying exchanges.

Accepted Answer

This is the definition of a target market.

Question 10

When a firm uses a concentrated targeting strategy,it can:

Accepted Answer

Concentrated targeting focuses on one target market and develops a highly specialized mix.

Question 11

_____ is one of the potential disadvantages associated with a multisegment strategy.

Accepted Answer

Cannibalization is a situation that occurs when sales of a new product cut into sales of a firm's existing products.

Question 12

Companies that adopt a concentrated marketing strategy violate which of the following old sayings?

Accepted Answer

A concentrated targeting strategy focuses on one segment of a market.

Question 13

Market segmentation:

Accepted Answer

The rapidly changing nature of markets dictates a regular reexamination of the segmentation process.

Question 14

Tall Paul's designs and sells household furniture and furnishings to people who are over 6'6" tall--a rather small target market.Tall Paul's uses a(n)_____ targeting strategy.

Accepted Answer

Concentrated targeting strategy selects one segment of a market for targeting marketing efforts.

Question 15

Which target marketing strategy views the market as one big market with no individual segments and thus uses a single marketing mix?

Accepted Answer

A firm using an undifferentiated targeting strategy essentially adopts a mass-market philosophy,viewing the market as one big market with no individual segments.

Question 16

A(n)_____ strategy entails selecting one segment of a market to target,and focuses on understanding the needs,motives,and satisfactions of the members of that segment,as well as on developing a highly specialized marketing mix.

Accepted Answer

Concentrated targeting strategy selects one segment of a market for targeting marketing efforts.

Question 17

With multisegment targeting,a company could benefit from all of the following EXCEPT:

Accepted Answer

Creating and supporting different marketing mixes requires more company resources than just designing one mix,which is not a benefit.

Question 18

A potential disadvantage of multisegment targeting is _____,which occurs when sales of a new product cut into sales of a firm's existing products.

Accepted Answer

Cannibalization is a situation that occurs when sales of a new product cut into sales of a firm's existing products.

Question 19

E&V Bridal Studios,a wedding consulting business,only works with Eastern Asian customers who want to use their cultural heritage in their wedding ceremonies.What type of segmentation strategy does the wedding consultant use?

Accepted Answer

E&V Bridal Studios concentrates on the segment of East Asians,who want a traditional wedding.

Question 20

Stouffer's offers gourmet entrees for one segment of the frozen dinner market and Lean Cuisine for another segment that wants both good taste and low calories.When Stouffer's chose to serve two well-defined market segments and develop distinct marketing mixes for each,it was implementing a(n)_____ strategy.

Accepted Answer