Question 1

Segmentation variables are usually grouped into four categories:

Accepted Answer

A)  demographic, geographic, religion, and income.
B)  geopolitical, income, behavioristic, and psychographic.
C)  attitudes, lifestyles, behaviors, and gender.
D)  geographic, demographic, psychographic, and attitudes.
E)  demographic, geographic, psychographic, and behavioristic.F) A) and D)
G) C) and D)

Question 2

Sales forecasts are always long-range in nature.

Accepted Answer

A) True 
 B)False

Question 3

Bethlehem Steel provides steel for a variety of uses to its various customers. Customers have different needs for the steel and thus Bethlehem has to prepare the raw steel differently depending on how customers will use it in their production processes. The primary business segmentation variable in this example is

Accepted Answer

A)  geographic location.
B)  customer size.
C)  product use.
D)  customer importance.
E)  organization classification.F) B) and E)
G) A) and C)

Question 4

Family life cycle is a psychological dimension used for segmenting markets.

Accepted Answer

A) True 
 B)False

Question 5

Which of these statements is not true about business markets?

Accepted Answer

A)  the purchase may be made to resell the item
B)  the purchase is always made by more than one individual
C)  the purchase may be made to use in general daily operations
D)  the purchase may be made to use in production of another product
E)  they can also be referred to as organizational marketsF) A) and B)
G) B) and E)

Question 6

If Baskin-Robbins calculates that it could sell up to 25 percent of all ice cream cones sold in the United States, this percentage would represent the ice cream marketer's

Accepted Answer

A)  target growth rate.
B)  sales forecast.
C)  sales objective.
D)  company sales potential.
E)  market potential.F) D) and E)
G) All of the above

Question 7

One condition for effective segmentation is that at least one segment must have substantial profit potential.

Accepted Answer

A) True 
 B)False

Question 8

Through market tests, a forecaster gains data regarding consumers' intended purchases.

Accepted Answer

A) True 
 B)False

Question 9

The sum of firms' marketing efforts equals industry marketing efforts.

Accepted Answer

A) True 
 B)False

Question 10

One problem with using psychographic variables for segmentation purposes is that they are difficult to measure accurately.

Accepted Answer

A) True 
 B)False

Question 11

Lifestyle is a product-related variable.

Accepted Answer

A) True 
 B)False

Question 12

A market segment profile may cover such aspects as demographic characteristics, geographic factors, product benefits sought, lifestyles, brand preferences, and usage rates.

Accepted Answer

A) True 
 B)False

Question 13

Consumers that do not own dogs are not likely to be in the market for dog food because

Accepted Answer

A)  they lack the authority to purchase the dog food.
B)  they do not possess the buying power for purchasing dog food.
C)  their ability to purchase the dog food is questionable.
D)  they do not have the need or desire for dog food.
E)  they are willing to use their buying power.F) A) and B)
G) None of the above

Question 14

The Sara Lee Company is attempting to forecast sales for a new ice cream cake. To come up with an accurate forecast, Sara Lee places the product in Atlanta supermarkets for a period of four months. In this instance, Sara Lee is using which forecasting method?

Accepted Answer

A)  Time series analysis
B)  Market test
C)  Executive judgment
D)  Regression analysis
E)  SurveyF) C) and D)
G) B) and C)

Question 15

General Electric calculates that the total number of light bulbs sold to consumers in the next year by all light bulb producers is 1 billion, given anticipated marketing efforts by the firms involved. This figure represents the industry's

Accepted Answer

A)  sales potential.
B)  market potential.
C)  target growth rate.
D)  sales forecast.
E)  sales objective.F) All of the above
G) B) and E)

Question 16

The final step in the target market selection process is

Accepted Answer

A)  implementing the appropriate marketing mix for the target market.
B)  evaluating relative market segments.
C)  eliminating market segments that are cost prohibitive.
D)  selecting specific target markets.
E)  revising the final segmentation variables based on target selection.F) B) and E)
G) All of the above

Question 17

After a firm has identified an appropriate targeting strategy, the next step in the target market selection process is

Accepted Answer

A)  determining the demographic variables of the target market.
B)  developing market segment profiles.
C)  determining which segmentation variables to use.
D)  selecting specific target markets.
E)  evaluating relevant market segments.F) B) and D)
G) A) and B)

Question 18

A marketer may segment a market in terms of the benefits that customers expect to receive from a particular product.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following variables would most likely be used to segment a business market?

Accepted Answer

A)  An attitude of the company's CEO
B)  The geographic location of the company
C)  The lifestyle of the company's buying agent
D)  Net income generated by the company
E)  Common opinions of the company's employeesF) All of the above
G) None of the above

Question 20

To find a target market, a firm can use the

Accepted Answer

A)  total market strategy and the undifferentiated strategy.
B)  product differentiation strategy and the customer differentiation strategy.
C)  demographic strategy and the psychographic strategy.
D)  socioeconomic strategy and the psychological strategy.
E)  undifferentiated strategy, the concentrated strategy, and the differentiated strategy.F) A) and E)
G) D) and E)

Exam 5: Target Market Segmentation and Evaluation

Lifestyle is a product-related variable.

Correct Answer
verified

One condition for effective segmentation is that at least one segment must have substantial profit potential.

Correct Answer
verified

Which of these statements is not true about business markets?

Correct Answer
verified

Sales forecasts are always long-range in nature.

Correct Answer
verified

General Electric calculates that the total number of light bulbs sold to consumers in the next year by all light bulb producers is 1 billion, given anticipated marketing efforts by the firms involved. This figure represents the industry's

Correct Answer
verified

Which of the following variables would most likely be used to segment a business market?

Correct Answer
verified

Correct Answer
verified

After a firm has identified an appropriate targeting strategy, the next step in the target market selection process is

Correct Answer
verified

One problem with using psychographic variables for segmentation purposes is that they are difficult to measure accurately.

Correct Answer
verified

If Baskin-Robbins calculates that it could sell up to 25 percent of all ice cream cones sold in the United States, this percentage would represent the ice cream marketer's

Correct Answer
verified

Consumers that do not own dogs are not likely to be in the market for dog food because

Correct Answer
verified

The Sara Lee Company is attempting to forecast sales for a new ice cream cake. To come up with an accurate forecast, Sara Lee places the product in Atlanta supermarkets for a period of four months. In this instance, Sara Lee is using which forecasting method?

Correct Answer
verified

Segmentation variables are usually grouped into four categories:

Correct Answer
verified

The sum of firms' marketing efforts equals industry marketing efforts.

Correct Answer
verified

A market segment profile may cover such aspects as demographic characteristics, geographic factors, product benefits sought, lifestyles, brand preferences, and usage rates.

Correct Answer
verified

A marketer may segment a market in terms of the benefits that customers expect to receive from a particular product.

Correct Answer
verified

The final step in the target market selection process is

Correct Answer
verified

Through market tests, a forecaster gains data regarding consumers' intended purchases.

Correct Answer
verified

To find a target market, a firm can use the

Correct Answer
verified

Family life cycle is a psychological dimension used for segmenting markets.

Correct Answer
verified

Exam 5: Target Market Segmentation and Evaluation

Lifestyle is a product-related variable.

Correct AnswerverifiedShow Answer

One condition for effective segmentation is that at least one segment must have substantial profit potential.

Correct AnswerverifiedShow Answer

Which of these statements is not true about business markets?

Correct AnswerverifiedShow Answer

Sales forecasts are always long-range in nature.

Correct AnswerverifiedShow Answer

General Electric calculates that the total number of light bulbs sold to consumers in the next year by all light bulb producers is 1 billion, given anticipated marketing efforts by the firms involved. This figure represents the industry's

Correct AnswerverifiedShow Answer

Which of the following variables would most likely be used to segment a business market?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

After a firm has identified an appropriate targeting strategy, the next step in the target market selection process is

Correct AnswerverifiedShow Answer

One problem with using psychographic variables for segmentation purposes is that they are difficult to measure accurately.

Correct AnswerverifiedShow Answer

If Baskin-Robbins calculates that it could sell up to 25 percent of all ice cream cones sold in the United States, this percentage would represent the ice cream marketer's

Correct AnswerverifiedShow Answer

Consumers that do not own dogs are not likely to be in the market for dog food because

Correct AnswerverifiedShow Answer

The Sara Lee Company is attempting to forecast sales for a new ice cream cake. To come up with an accurate forecast, Sara Lee places the product in Atlanta supermarkets for a period of four months. In this instance, Sara Lee is using which forecasting method?

Correct AnswerverifiedShow Answer

Segmentation variables are usually grouped into four categories:

Correct AnswerverifiedShow Answer

The sum of firms' marketing efforts equals industry marketing efforts.

Correct AnswerverifiedShow Answer

A market segment profile may cover such aspects as demographic characteristics, geographic factors, product benefits sought, lifestyles, brand preferences, and usage rates.

Correct AnswerverifiedShow Answer

A marketer may segment a market in terms of the benefits that customers expect to receive from a particular product.

Correct AnswerverifiedShow Answer

The final step in the target market selection process is

Correct AnswerverifiedShow Answer

Through market tests, a forecaster gains data regarding consumers' intended purchases.

Correct AnswerverifiedShow Answer

To find a target market, a firm can use the

Correct AnswerverifiedShow Answer

Family life cycle is a psychological dimension used for segmenting markets.

Correct AnswerverifiedShow Answer

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