Question 1

Watson's Bakery found five different market segments among customers for its bakery goods. When developing a market-oriented strategy, the marketing manager used a ____ approach, putting two target markets together and developing a single marketing mix that would meet the needs of the new larger segment.
A) particular target market
B) multiple target market
C) combined target market
D) product-market target market
E) specialty targeting

Accepted Answer

The correct approach is called a "combined target market" approach, where two or more segments are combined into one larger target market to be addressed with a single marketing mix. This strategy simplifies marketing efforts and can be more cost-effective while still addressing the needs of a broader audience.

Question 2

If a company plans to sell its products to a market segment consisting of "outgoing personalities," this would NOT be a good market segment primarily because of which of the following criteria?
A) Homogeneous within
B) Heterogeneous between
C) Generic
D) Operational
E) Substantial

Accepted Answer

The answer of If a company plans to sell its...

Question 3

Jazzy Tile Co. segmented its broad product-market and decided to aim at two different segments, offering each segment a different marketing mix. Jazzy Tile Co. is following the ______________ approach.
A) mass marketing
B) multiple target market
C) combined target market
D) single target market
E) All of the above.

Accepted Answer

Jazzy Tile Co. is using a multiple target market approach, as it is targeting two different segments with different marketing mixes.

Question 4

Having segmented its market, the Martinez Corp. has decided to treat each of two submarkets as a separate target market requiring a different marketing mix. Apparently, Martinez is following the _________ target market approach.
A) single
B) combined
C) multiple
D) separate
E) general

Accepted Answer

Martinez Corp. is following the multiple target market approach by treating each submarket separately with a different marketing mix. This approach allows a company to tailor its marketing efforts to the unique needs and preferences of each submarket, increasing the effectiveness and efficiency of its marketing strategy.

Question 5

A market-oriented strategy planner applies the ______________ target market approach.
A) combined
B) multiple
C) single
D) Any of the above.
E) None of the above.

Accepted Answer

A market-oriented strategy planner can apply any of the target market approaches (combined, multiple, or single) depending on the specific market conditions and strategic goals.

Question 6

When Procter & Gamble offers both Pantene and Vidal Sassoon shampoos to its customers, which target market approach is P&G using?
A) Multiple
B) Single
C) Combined
D) Generic
E) Clustering

Accepted Answer

Procter & Gamble is using a multiple target market approach by offering both Pantene and Vidal Sassoon shampoos to cater to different customer segments with varying preferences and needs.

Question 7

Combiners
A) look at various submarkets for differences rather than similarities.
B) try to increase the size of their target markets by merging two or more segments.
C) aim at one more market segments and offer each different marketing mixes.
D) have decided to sacrifice profits for sales volume.
E) aim at one submarket with a specialized marketing mix.

Accepted Answer

Combiners try to combine or merge two or more submarkets to increase the size of their target market. This is done to achieve economies of scale and offer a more extensive range of products or services across various segments.

Question 8

Which of the following segmenting dimensions probably would be LEAST LIKELY to result in segments that would meet the criteria that product-market segments should be "operational?"
A) Geographic region.
B) Personality.
C) Family size.
D) Age.
E) Income level.

Accepted Answer

Personality is a subjective and hard-to-measure dimension, making it difficult to create operational segments. Other dimensions such as geographic region or income level are more objective and can be easily measured, allowing for more operational segments to be created.

Question 9

Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product-market. To obtain some economies of scale, QCI decided NOT to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the
A) combined target market approach.
B) single target market approach.
C) multiple target market approach.
D) mass marketing approach.
E) All of the above.

Accepted Answer

QCI is using the combined target market approach by selecting two submarkets with similar needs and using one marketing mix to appeal to both.

Question 10

A food processor considering snack-food opportunities identified three possible market segments and gave them "nicknames": the dieters, health faddists, and nutrition-conscious parents. It developed a marketing mix around a line of good tasting, nutritious children's snacks. The firm is apparently
A) relying on cluster analysis techniques.
B) using a multiple target market approach.
C) using a single target market approach.
D) using a combined target market approach.
E) ignoring the criteria that good market segments should be operational.

Accepted Answer

The firm is focusing on developing a product specifically designed for one segment, the nutrition-conscious parents, indicating a single target market approach.

Question 11

Which of the following statements about the combined target market approach is True?
A) Combiners develop several offerings and tailor them to the unique needs of several different segments.
B) Combiners try to extend their basic offering to satisfy customers from multiple segments with a single marketing mix.
C) Combiners may fall victim to an innovative segmenter that offers a more attractive marketing mix to a segment of the combined target market.
D) All of the above.
E) B and C only.

Accepted Answer

The combined target market approach involves trying to extend a company's basic offering to satisfy customers from multiple segments with a single marketing mix. However, this approach can lead to vulnerability if an innovative segmenter offers a more attractive marketing mix to a specific segment of the combined target market. Therefore, statement B and C are true, while statement A is not necessarily true for the combined target market approach.

Question 12

Gina Williams wanted to start a decorating business. She identified several possible target markets, but decided to serve a market composed of recently married couples that owned their first home. Gina appears to be following:
A) A multiple target market approach.
B) A single target market approach.
C) A combined target market approach.
D) A mass marketing approach.
E) None of the above.

Accepted Answer

Gina is following a single target market approach by targeting recently married couples that own their first home.

Question 13

The combined target market approach:
A) tends to focus on small, homogeneous market segments.
B) aims at several target markets and offers each target market a unique marketing mix.
C) tries to improve the general appeal of a firm's basic marketing mix rather than tailor it to meet the strongly felt needs of some people.
D) works well only when each submarket of a product-market has a different demand curve.
E) All of the above.

Accepted Answer

The combined target market approach focuses on improving the general appeal of a firm's basic marketing mix to reach a broader audience, rather than tailoring it to specific segments.

Question 14

A combined target market approach
A) sacrifices possible economies of scale.
B) requires more investment than a multiple target market approach.
C) may not satisfy customers as well as the multiple target market approach.
D) trades off sales volume to provide a small market superior value.
E) aims at two or more segments with multiple marketing mixes.

Accepted Answer

The answer of A combined target market approach
A) sacrifices possible...

Question 15

A large firm with ample resources wants to minimize the risk of "inviting" competitors to "chip away" at its target market(s). It has segmented its broad product-market and identified several homogeneous submarkets--each of which is large enough to offer attractive sales and profit potential. Which of the following approaches should the firm use?
A) Multiple target market approach
B) Mass marketing approach
C) Combined target market approach
D) Single target market approach
E) All of the above

Accepted Answer

The multiple target market approach allows the firm to cater to different submarkets with tailored strategies, minimizing the risk of competition by addressing specific needs and preferences of each segment.

Question 16

Combiners (as opposed to segmenters):
A) try to satisfy target customers "very well" rather than "pretty well."
B) try to develop a different marketing mix for each submarket.
C) want to avoid "inviting" competition.
D) are not target marketers--they aim at everybody.
E) try to increase the size of their target markets by combining two or more market segments.

Accepted Answer

Combiners aim to increase the size of their target markets by combining two or more market segments. They do not try to satisfy target customers "very well" or develop a different marketing mix for each submarket. They are not target marketers who aim at everybody, and they may still face competition even if they combine market segments.

Question 17

Merging two or more submarkets into one larger target market as a basis for one strategy is known as the ____ target market approach.
A) particular
B) multiple
C) combined
D) compound
E) blended

Accepted Answer

The combined target market approach involves merging two or more submarkets into one larger target market. This approach allows a company to identify commonalities among different submarkets and develop one strategy that can effectively target all of them. This approach can be more efficient and cost-effective than developing separate strategies for each submarket. The other choices are not accurate descriptions of this approach.

Question 18

When a firm develops a marketing mix for teenage boys which is different from its marketing mix for teenage girls, which target market approach is it using?
A) Single
B) Generic
C) Combined
D) Clustering
E) Multiple

Accepted Answer

When a firm develops a marketing mix for different segments of their target market, it's using a multiple target market approach. In this case, the firm is developing different marketing mixes for teenage boys and teenage girls, which are two distinct segments within the broader target market of teenagers.

Question 19

Which of the following is NOT one of the target marketing approaches for developing market-oriented strategies in a broad product-market?
A) Multiple.
B) Single.
C) Exclusive.
D) Combined.
E) All of the above are target marketing approaches.

Accepted Answer

The target marketing approaches for developing market-oriented strategies in a broad product-market include multiple, single, and combined targeting strategies. Exclusive targeting is not a commonly used approach, and therefore is not one of the options for developing market-oriented strategies.

Question 20

Electro Technologies, Inc. (ETI) has limited capital and wants to reduce the risk of competitors taking customers if it invests in a new product-market. Its broad product-market consists of three reasonably distinct submarkets. To identify a target market, ETI should probably focus on using the __________ approach.
A) combined target market
B) mass marketing
C) multiple target market
D) single target market
E) All of the above

Accepted Answer

The single target market approach would allow ETI to focus its limited resources on one specific submarket and tailor its product and marketing efforts to meet the needs of that submarket. This would reduce the risk of competing with larger, more established companies in all three submarkets and improve the chances of successfully entering and penetrating the chosen target market.

Quiz 4: Focusing Marketing Strategy With Segmentation and Positioning

If a company plans to sell its products to a market segment consisting of "outgoing personalities," this would NOT be a good market segment primarily because of which of the following criteria?

Jazzy Tile Co. segmented its broad product-market and decided to aim at two different segments, offering each segment a different marketing mix. Jazzy Tile Co. is following the ______________ approach.

Having segmented its market, the Martinez Corp. has decided to treat each of two submarkets as a separate target market requiring a different marketing mix. Apparently, Martinez is following the _________ target market approach.

A market-oriented strategy planner applies the ______________ target market approach.

When Procter & Gamble offers both Pantene and Vidal Sassoon shampoos to its customers, which target market approach is P&G using?

Combiners

Which of the following segmenting dimensions probably would be LEAST LIKELY to result in segments that would meet the criteria that product-market segments should be "operational?"

A food processor considering snack-food opportunities identified three possible market segments and gave them "nicknames": the dieters, health faddists, and nutrition-conscious parents. It developed a marketing mix around a line of good tasting, nutritious children's snacks. The firm is apparently

Which of the following statements about the combined target market approach is True?

Gina Williams wanted to start a decorating business. She identified several possible target markets, but decided to serve a market composed of recently married couples that owned their first home. Gina appears to be following:

The combined target market approach:

A combined target market approach

Combiners (as opposed to segmenters) :

Merging two or more submarkets into one larger target market as a basis for one strategy is known as the ____ target market approach.

When a firm develops a marketing mix for teenage boys which is different from its marketing mix for teenage girls, which target market approach is it using?

Which of the following is NOT one of the target marketing approaches for developing market-oriented strategies in a broad product-market?