Question 1

Some people want healthy cereal that will help them lose weight or possibly prevent certain kinds of cancer.Some want presweetened cereal.Some want fruits and nuts in their cereal.Some people want whole wheat cereal while others want rice cereal.There are some who like hot cereal and others who like to eat their cereal right out of the box.The diversity of consumers for cereal is an example of ________.
A)market aggregation
B)market similitude
C)economic aggregation
D)disintermediation
E)market fragmentation

Accepted Answer

The diversity of consumers with varying preferences for cereal indicates market fragmentation, where the market is divided into smaller segments based on individual needs and preferences.

Question 2

What are the steps,in order,of the target marketing process?
A)segmentation,positioning,and targeting
B)segmentation,targeting,and positioning
C)targeting,segmentation,and positioning
D)targeting,positioning,and segmentation
E)positioning,segmentation,and targeting

Accepted Answer

The correct order of the target marketing process is segmentation, targeting, and positioning. In this order, companies first identify and group their target audience into specific segments based on key characteristics such as demographics, psychographics, and behaviors. They then evaluate the potential profitability of each segment and select the most attractive target segment(s) to focus their marketing efforts on. Finally, they position their product or service in a way that appeals to the target segment(s) and differentiates it from competitors.

Question 3

Which of the following best defines demographics?
A)statistics that can be used to segment populations on the basis of what people do with a product
B)statistics that can be used to segment populations on the basis of when people use a product
C)qualitative data that can be used to explain why seemingly homogeneous consumer groups do not share core characteristics
D)statistics that can be used to segment populations on the basis of shared attitudes,opinions,and interests
E)statistics that measure observable aspects of a population

Accepted Answer

Demographics are statistics that measure observable aspects of a population, such as age, gender, income, education level, etc. These statistics enable marketers to segment populations based on common characteristics, so they can tailor their marketing efforts to specific consumer groups.

Question 4

Which of the following statements about the steps in the target marketing process is true?
A)The first step in the target marketing process is setting marketing objectives.
B)There are four steps in the target marketing process.
C)The second step in the target marketing process is the identification of all segmentation variables.
D)The final step in the target marketing process is positioning.
E)The target marketing process is not related to positioning.

Accepted Answer

The final step in the target marketing process is positioning. The other steps include market segmentation, target market selection, and developing a marketing mix strategy.

Question 5

Why do marketers segment the market and use a target marketing strategy?

Accepted Answer

The answer of Why do marketers segment the market and...

Question 6

The direct cause of market fragmentation is the large number of new technological products introduced annually.

Accepted Answer

The answer of The direct cause of market fragmentation is...

Question 7

A mass marketing approach involves more advertising costs than a target marketing approach does.

Accepted Answer

The answer of A mass marketing approach involves more advertising...

Question 8

Which of the following is NOT an example of a demographic segmentation variable?
A)lifestyle
B)income
C)ethnic group
D)gender
E)age

Accepted Answer

Lifestyle is not a demographic segmentation variable as it is more related to psychographic segmentation, which considers attitudes, values, and interests of a consumer rather than their demographic characteristics such as age, gender, income, ethnicity, etc.

Question 9

Marketers must balance the ________ of mass marketing with the ________ of offering each individual customer exactly what he wants.
A)efficiency;effectiveness
B)effectiveness;efficiency
C)investment;cost
D)cost;investment
E)positioning;scale

Accepted Answer

The answer of Marketers must balance the ________ of mass...

Question 10

The group of American consumers born after 1994 is often called ________.
A)Millennials
B)Generation Y
C)Generation X
D)baby busters
E)Generation Z

Accepted Answer

The group born after 1994 is often referred to as Generation Z, as they are the generation that comes after Millennials (who were born between 1981-1993). Generation Y and Generation X refer to earlier generations, and baby busters is a term sometimes used to refer to those born in the late 1960s and early 1970s.

Question 11

Age,gender,place of residence,and income are all examples of ________.
A)segmentation variables
B)positioning strategies
C)market fragment strategies
D)psychographics
E)targeting strategies

Accepted Answer

Age, gender, place of residence, and income are all examples of segmentation variables. Segmentation variables are characteristics that are used to divide a market into smaller groups of consumers with similar needs or preferences. By using segmentation variables, marketers can create targeted marketing campaigns that are more likely to resonate with specific groups of consumers.

Question 12

Explain the major steps in the target marketing process.

Accepted Answer

The answer of Explain the major steps in the target...

Question 13

Marketers often use generational marketing because members of a generation tend to share the same ________.
A)lifestyle
B)income and social class
C)outlook and priorities
D)psychographics and usage patterns
E)geodemographics

Accepted Answer

Generational marketing focuses on targeting groups of people who share similar outlooks and priorities based on their age and life experiences. While lifestyle, income and social class, psychographics, and geodemographics can also be used to target specific groups, they may not be as closely linked to generational differences as outlook and priorities.

Question 14

Which of the following best describes the market segment referred to as the bottom of the pyramid (BOP)?
A)a national segment of lower income consumers
B)a national segment of non-native language speakers
C)a national segment of individuals with a high-school only education
D)a global segment of consumers who earn less than $2 per day
E)a global segment of children in lower income families

Accepted Answer

The BOP market segment refers to global consumers who earn less than $2 per day. This segment is characterized by its low income and lack of access to basic resources such as clean water, sanitation, and healthcare. Companies have started targeting this segment with innovative and affordable products and services to improve their standard of living while also generating profits.

Question 15

People's diverse interests and backgrounds divide them into numerous groups with distinct needs and wants,a condition most accurately described as ________.
A)market aggregation
B)market positioning
C)economic aggregation
D)differentiation
E)market fragmentation

Accepted Answer

Market fragmentation refers to the division of consumers into multiple smaller and more specific groups with distinct needs and wants. This can make it challenging for marketers to effectively target their audience and develop products or services that meet the needs of each segment.

Question 16

What is market fragmentation? Why is market fragmentation of concern to marketers?

Accepted Answer

The answer of What is market fragmentation? Why is market...

Question 17

Which of the following is the process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics?
A)acculturation
B)segmentation
C)market fragmentation
D)targeting
E)positioning

Accepted Answer

Segmentation is the process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics. Acculturation refers to the process of learning and adopting the values and customs of a dominant culture. Market fragmentation refers to the proliferation of niche markets within an industry. Targeting involves selecting specific segments to focus on for marketing efforts. Positioning involves creating a distinct image or identity for a product or brand in the minds of consumers.

Question 18

Which of the following is NOT part of a target marketing strategy?
A)dividing the market into segments based on customer characteristics
B)identifying a market that is likely to buy a product
C)selecting one or more segments as target markets
D)developing a product to meet the needs of a specific market segment
E)positioning a product

Accepted Answer

The answer of Which of the following is NOT part...

Question 19

Which of the following is the most accurate generalization of Millennials?
A)Many people in this segment seem determined to have stable families after growing up as latchkey children.
B)Members of this generation are currently responsible for the majority of new start-up businesses in the United States.
C)Members of this generation were born in the years immediately following the end of World War II.
D)Members of this generation have more leisure time than members of other generations do.
E)Members of this generation are more difficult to reach through television advertising than members of older generations are.

Accepted Answer

The answer of Which of the following is the most...

Question 20

The group of American consumers born between 1979 and 1994 is often called ________.
A)baby busters
B)the silent majority
C)Generation Y
D)tweens
E)Generation X

Accepted Answer

Generation Y is the commonly used term for the group of American consumers born between 1979 and 1994. Baby busters (also known as Generation X) were born between 1965 and 1978. The silent majority is a term used to describe a large group of people who do not express their opinions publicly. Tweens generally refers to children between the ages of 8 and 12.

Quiz 7: Segmentation,target Marketing,and Positioning

What are the steps,in order,of the target marketing process?

Which of the following best defines demographics?

Which of the following statements about the steps in the target marketing process is true?

Why do marketers segment the market and use a target marketing strategy?

The direct cause of market fragmentation is the large number of new technological products introduced annually.

A mass marketing approach involves more advertising costs than a target marketing approach does.

Which of the following is NOT an example of a demographic segmentation variable?

Marketers must balance the of mass marketing with the of offering each individual customer exactly what he wants.

The group of American consumers born after 1994 is often called ________.

Age,gender,place of residence,and income are all examples of ________.

Explain the major steps in the target marketing process.

Marketers often use generational marketing because members of a generation tend to share the same ________.

Which of the following best describes the market segment referred to as the bottom of the pyramid (BOP) ?

People's diverse interests and backgrounds divide them into numerous groups with distinct needs and wants,a condition most accurately described as ________.

What is market fragmentation? Why is market fragmentation of concern to marketers?

Which of the following is the process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics?

Which of the following is NOT part of a target marketing strategy?

Which of the following is the most accurate generalization of Millennials?

The group of American consumers born between 1979 and 1994 is often called ________.