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Exam 8: Segmenting and Targeting Markets

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Question 1

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Tennot Designs Inc.manufactures and sells clothes and shoes to people who are over 6'6" tall - a rather small target market.Given this information,Tennot Designs Inc.uses a(n)__________targeting strategy.

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Question 2

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The purpose of market segmentation is to enable a marketer to tailor marketing mixes to meet the needs of specific segments.

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Question 3

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Brasco Motor Company produces a wide range of vehicles such as passenger cars,commercial trucks,specialty vehicles,performance vehicles,and race cars.Each type of car has a separate and distinct customer base.Given this information,Brasco Motor Company has divided its customer base by using the strategy of__________.

Wine Tasters Inc.is a magazine that targets people who appreciate wine and good food.Its major customer base include people who enjoy wine-tasting events and visit different restaurants.Given this information,Wine Tasters most likely relies on which of the following variables to identify its target market?

Which of the following best describes a multisegment targeting strategy?

Volten Inc.is an online apparel store.It has separate sections for casual wear,office wear,and party wear.It also divides its products on the basis of price to suit people of various income levels.In this way,it caters to different sections of society.Which of the following bases has the company most likely used for positioning its products?

How do marketers use customer relationship management (CRM)as a targeting tool?

Cannibalization occurs when the sales of an existing product remain the same despite the introduction of a new product.

A market segment is a subgroup of people or organizations having different characteristics that cause them to have distinct product needs.

Wesley Electronics Inc.manufactures electronic gadgets such as cell phones,computers,and laptops.To let people know about the products offered,the marketing managers of Wesley Electronics Inc.spend a great deal of money on advertising.They employed various methods of advertising such as print,television,and online advertising.Given this information,Wesley Electronics Inc.is in which step of market segmentation?

A market is composed of people or organizations who have the ability to buy the products they desire.

​Sheera Jewelry sends birthday greeting cards to each of its customers as a token of appreciation for shopping at its store.This exemplifies the customer relationship management (CRM) trend of _____.

Apart from long-term company profits,the major aim of customer relationship management (CRM) is to:

__________is a means of displaying or graphing,in two or more dimensions,the location of products,brands,or groups of products in customers' minds.

Nalpas Inc. ,an apparel company,manufactures clothes for men,women,and children.It further divides its core customers on the basis of demographic variables such as income,ethnic background,and family life cycle.These divisions are known as _____.​

__________are business customers who consider numerous suppliers,solicit bids,and study all proposals carefully before selecting one.

Which of the following is true of a concentrated targeting strategy?

Which of the following is a disadvantage associated with an undifferentiated targeting strategy?

When Prisly Inc.introduced a liquid detergent in the market,it noticed that the sales of its detergent powder significantly declined.Prisly Inc.'s loyal customers who previously purchased detergent powder switched to liquid detergent.As a result,Prisly Inc.was forced to reduce production of its detergent powder.This scenario exemplifies__________.

Write a note on the final step of the market segmentation process.