Question 1

Segmentation based on where prospective customers live or work is referred to as
A) zip code segmentation.
B) geographic segmentation.
C) regional segmentation.
D) MSA segmentation.
E) NAICS code segmentation.

Accepted Answer

Geographic segmentation is based on where prospective customers live or work, and it is the most appropriate term among the given options. Zip code segmentation and MSA (Metropolitan Statistical Area) segmentation are examples of geographic segmentation. Regional segmentation refers to dividing a market into different regions based on various factors, including demographics and psychographics. NAICS (North American Industry Classification System) code segmentation is based on the industry type of the prospective customers.

Question 2

fifth step in segmenting and targeting markets that link customer needs to marketing actions is to __________.
A) take marketing actions to reach target markets
B) group potential buyers into segments
C) select target markets
D) group products to be sold into categories
E) develop a market-product grid and estimate size of the overall market

Accepted Answer

After selecting target markets, the next step is to take marketing actions to reach those markets. This may involve developing product offerings, promotions, and pricing strategies that are tailored to the specific needs and preferences of each target segment.

Question 3

Which of the following is a criterion used in forming market segments?
A) your competitors have similar segments
B) differences between potential suppliers or distributors
C) differences of needs of buyers within segments
D) no marketing action to reach a segment
E) simplicity and cost of assigning potential buyers to segments

Accepted Answer

Simplicity and cost of assigning potential buyers to segments is a criterion used in forming market segments, as it ensures that the segmentation process is practical and feasible.

Question 4

Criteria for forming segments involve both similarities and differences.The similarities must be ____________ a segment,and the differences must be __________ segments.
A) between; among
B) throughout; absent in
C) within; among
D) absent in; throughout
E) among; across

Accepted Answer

The similarities must be within a segment, meaning that the members within a segment have something in common. The differences must be among segments, meaning that the segments have distinguishing characteristics that set them apart from each other. Therefore, the best choice is C, within;among.

Question 5

of the following are criteria used for forming market segments EXCEPT:
A) difference of needs of buyers among segments.
B) potential for increased profit.
C) cost of reaching the segment.
D) potential of a marketing action to reach a segment.
E) simplicity and cost of assigning potential buyers to segments.

Accepted Answer

The answer of of the following are criteria used for...

Question 6

general categories used to segment consumer markets are geographic segmentation,demographic segmentation,__________,and behavioral segmentation.
A) supplier segmentation
B) demand segmentation
C) regional segmentation
D) psychographic segmentation
E) product segmentation

Accepted Answer

Psychographic segmentation is the other broad, important category used to segment consumer markets. It focuses on personality traits, values, opinions, interests, and lifestyles of consumers.

Question 7

third step in segmenting and targeting markets that link customer needs to marketing actions is to __________.
A) group potential buyers into segments
B) group products to be sold into categories
C) select target markets
D) develop a market-product grid and estimate size of markets
E) take marketing actions to reach target markets

Accepted Answer

The third step in segmenting and targeting markets involves developing a market-product grid and estimating the size of markets to link customer needs to marketing actions effectively.

Question 8

marketing manager must be able to put a market segmentation plan into effect.This means being able to recognize the characteristics of potential buyers and __________ without encountering excessive costs.
A) eliminating potential non-buyers
B) identifying segmentation variables
C) assigning them to a segment
D) redirecting their purchase behaviors
E) ignoring any and all similarities

Accepted Answer

A marketing manager must be able to assign potential buyers to a segment effectively to implement a market segmentation plan.

Question 9

Which of the following is NOT a reason to segment a market?
A) The ability to assign buyers to a segment is simple and cost-effective.
B) All the buyers in the entire market have similar wants and needs.
C) It would cause an increase in market share or profit.
D) There is a potential marketing action to reach it.
E) There are different wants and needs of buyers in the entire market.

Accepted Answer

Segmentation is done to identify and target specific groups of customers with different wants and needs. If all the buyers in the entire market have similar wants and needs, there would be no need to segment the market. The other options (A, C, D, and E) are all valid reasons for segmentation.

Question 10

best segmentation approach is the one that
A) makes it easiest to reach the segment.
B) maximizes the opportunity for future profit and ROI.
C) recognizes different needs of buyers among different segments.
D) recognizes similarities of needs of potential buyers within a segment.
E) is simplest and least costly in assigning potential buyers to segments.

Accepted Answer

The best segmentation approach is one that maximizes the opportunity for future profit and ROI, as this aligns with the primary goal of most businesses to increase profitability and ensure a good return on investment.

Question 11

Criteria for forming segments involve both similarities and differences.Which of the following statements is most accurate?
A) Within a segment, the needs of potential buyers should be different; among segments, the needs of buyers should be similar.
B) Within a segment, the needs of potential buyers should be similar; among segments, the needs of buyers should be different.
C) The needs of buyers should be different, both between segments and within segments.
D) The needs of buyers should be the same, both between segments and within segments.
E) If there are any differences at all, you should segment your market.

Accepted Answer

Segmenting based on similarities in needs within a segment allows for more effective targeting and efficient use of marketing resources. However, there should also be differences among segments to ensure that the company is reaching multiple distinct markets with unique needs and preferences. Therefore, the statement that within a segment, the needs of potential buyers should be similar; among segments, the needs of buyers should be different is most accurate.

Question 12

Campbell's found that its canned nacho cheese sauce,which could be heated and poured directly onto nacho chips,was too hot for Americans in the East and not hot enough for those in the West and Southwest.Today,Campbell's plants in Texas and California produce a hotter nacho cheese sauce than what is produced in the other plants.Campbell's is using __________ segmentation.
A) demographic
B) behavioral
C) economic
D) geographic
E) psychographic

Accepted Answer

Campbell's is using geographic segmentation, as they are segmenting the market based on geographical regions and tailoring their product to meet the specific needs and preferences of customers in those regions.

Question 13

Which of the following statements best illustrates geographic segmentation?
A) GE built a downsized microwave oven to hang under kitchen cabinets.
B) Del Monte offers a line of canned fruit with no added sugar or artificial sweeteners.
C) In China, KFC sells a spicier chicken the farther away its restaurants are from the coastal areas.
D) A fast food hamburger restaurant is only open for breakfast on weekdays and Saturdays but not Sundays.
E) A gourmet grocer advertises its services on a small-audience classical music station even though there is a much larger-audience rock station in the area.

Accepted Answer

Geographic segmentation refers to dividing a market based on the geographic location of consumers. The statement about KFC selling a spicier chicken in areas farther from the coastal areas in China is the best example of geographic segmentation.

Question 14

There are five steps involved in segmenting and targeting markets.What should a marketer do after he or she has grouped products to be sold into categories?
A) create product groupings
B) develop a market-product grid and estimate size of markets
C) identify market needs
D) take marketing actions to reach target markets
E) form prospective buyers into market segments

Accepted Answer

After grouping products into categories, the marketer should develop a market-product grid and estimate the size of markets. This will help in identifying which categories have the most potential and which target markets to focus on. The other steps in segmenting and targeting markets include identifying market needs, forming prospective buyers into market segments, and taking marketing actions to reach target markets. However, developing a market-product grid is the next logical step after grouping products into categories.

Question 15

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the question
A) "Is this product useful on a global scale?"
B) "Would segmentation be worth doing and is it possible?"
C) "Is it possible to reposition this product?"
D) "Is there too much competition for this product?"
E) "Is the market loyal to the product?"

Accepted Answer

The question specifically refers to criteria for grouping potential buyers into meaningful segments, which suggests that not all buyers will be relevant or responsive to a given product. As such, it is important to determine whether segmentation is worth doing and whether it is possible given the available data and resources. The other answer choices do not directly address this question.

Question 16

Which of the following in NOT a criterion to use in forming market segments?
A) The ability to assign buyers to a segment is cost-effective and simple.
B) The result of segmenting will cause an increase in market share or profit.
C) There are significant similarities among buyers in the market segment.
D) There is a potential marketing action to reach the segment.
E) Buyers throughout the entire market have very similar wants and needs.

Accepted Answer

The statement "Buyers throughout the entire market have very similar wants and needs" is not a criterion for forming market segments. In fact, the whole point of segmenting is to identify groups of buyers with different needs and wants so that marketers can tailor their marketing efforts accordingly. The other criteria listed are all important considerations when forming market segments.

Question 17

of the following are geographic segmentation variables EXCEPT:
A) density
B) city size
C) region
D) VALS
E) statistical area

Accepted Answer

VALS (Values and Lifestyles) is a psychographic segmentation variable, not a geographic segmentation variable. The other options - density, city size, region, and statistical area - are all geographic segmentation variables.

Question 18

Between 2 and 3 percent of the population have some degree of allergic reaction,usually mild,to preservatives used in salad bars.Restaurants might consider people with these "allergies" as a separate segment.To implement this segmentation strategy,restaurants would have to have a regular salad bar and a special salad bar for the allergies segment.This multiple product and multiple market segment strategy would have the greatest difficulty meeting which of the following criteria used to form market segments?
A) different needs of buyers among different segments
B) similarity of needs of potential buyers within a segment
C) simplicity and cost of assigning potential buyers to segments
D) potential for increased profit and ROI
E) potential of a marketing action to reach a segment

Accepted Answer

The answer of Between 2 and 3 percent of the...

Question 19

Selling a product to a different market segment usually requires a different marketing action that in turn means greater costs.If increased revenues don't offset extra costs of this action,a marketer should __________.
A) increase the advertising budget
B) prune the product offerings
C) family brand their products
D) combine segments
E) group products into categories

Accepted Answer

The answer of Selling a product to a different market...

Question 20

fourth step in segmenting and targeting markets that link customer needs to marketing actions is to __________.
A) group potential buyers into segments
B) select target markets
C) group products to be sold into categories
D) develop a market-product grid and estimate size of the overall market
E) take marketing actions to reach target markets

Accepted Answer

The fourth step in segmenting and targeting markets is to select target markets after grouping potential buyers into segments and grouping products into categories.

Quiz 9: Market Segmentation,Targeting,and Positioning

Segmentation based on where prospective customers live or work is referred to as

fifth step in segmenting and targeting markets that link customer needs to marketing actions is to __________.

Which of the following is a criterion used in forming market segments?

Criteria for forming segments involve both similarities and differences.The similarities must be __ a segment,and the differences must be segments.

of the following are criteria used for forming market segments EXCEPT:

general categories used to segment consumer markets are geographic segmentation,demographic segmentation,__________,and behavioral segmentation.

third step in segmenting and targeting markets that link customer needs to marketing actions is to __________.

marketing manager must be able to put a market segmentation plan into effect.This means being able to recognize the characteristics of potential buyers and __________ without encountering excessive costs.

Which of the following is NOT a reason to segment a market?

best segmentation approach is the one that

Criteria for forming segments involve both similarities and differences.Which of the following statements is most accurate?

Which of the following statements best illustrates geographic segmentation?

There are five steps involved in segmenting and targeting markets.What should a marketer do after he or she has grouped products to be sold into categories?

Grouping potential buyers into meaningful segments involves meeting some specific criteria that answer the question

Which of the following in NOT a criterion to use in forming market segments?

of the following are geographic segmentation variables EXCEPT:

Selling a product to a different market segment usually requires a different marketing action that in turn means greater costs.If increased revenues don't offset extra costs of this action,a marketer should __________.

fourth step in segmenting and targeting markets that link customer needs to marketing actions is to __________.