Question 1

One segment of a market is called a:

Accepted Answer

A concentrated targeting strategy focuses on one segment of a market.

Question 2

Thompson Pools installs and maintains swimming pools.They group their customers according to their needs: new installs,regular maintenance,and frequent product consumers.When do they need a new segmentation analysis?

Accepted Answer

The rapidly changing nature of markets dictates regular reexamination of the segmentation process.

Question 3

All of the following are advantages of using a concentrated targeting strategy EXCEPT:

Accepted Answer

Cannibalization is a disadvantage of multisegment targeting.

Question 4

A(n)_____ is a group of people or organizations for whom an organization designs,implements,and maintains a marketing mix intended to meet the needs of that group,resulting in mutually satisfying exchanges.

Accepted Answer

This is the definition of a target market.

Question 5

When Henry Ford first made the Model T,he said consumers "can have any color they want as long as it is black." This was a case of _____.

Accepted Answer

An undifferentiated targeting strategy views the market as a whole without individual segments and uses a single marketing mix.

Question 6

After selecting a market for study and choosing bases for segmenting that market,marketer must select the segmentation _____,which identify the specific segmentation variables to use.

Accepted Answer

Descriptors identify the specific segmentation variables to use.

Question 7

A(n)_____ strategy entails selecting one segment of a market to target,and focuses on understanding the needs,motives,and satisfactions of the members of that segment,as well as on developing a highly specialized marketing mix.

Accepted Answer

Concentrated targeting strategy selects one segment of a market for targeting marketing efforts.

Question 8

Market segmentation:

Accepted Answer

The rapidly changing nature of markets dictates a regular reexamination of the segmentation process.

Question 9

Which of the following is NOT an advantage of an undifferentiated marketing strategy?

Accepted Answer

One major problem associated with undifferentiated marketing is that it makes the company more susceptible to competitive inroads.

Question 10

Marketers at Queen City Awning are deciding how much to charge for the company's new line of custom-made awnings.In which stage of the market segmentation process is Queen City Awning?

Accepted Answer

Designing,implementing,and maintaining appropriate marketing mixes involves making decisions about product,place,promotion,and pricing.

Question 11

All of the following are steps in the market segmenting process EXCEPT:

Accepted Answer

The steps in segmenting a market are (1)select a market or product category for study, (2)choose a basis or bases for segmenting the market, (3)select segmentation descriptors, (4)profile and analyze segments, (5)select target markets,and (6)design,implement,and maintain appropriate marketing mixes.

Question 12

The debate over gay marriages is causing a great deal of furor,but it has done little to deplete the importance of the affluent gay market to businesses.Georgia Pacific and Mitchell Gold,a furniture manufacturer,are two companies that have implemented and maintained marketing mixes designed to meet the needs of lesbians and gays.To these companies and others,lesbians and gays are a desirable:

Accepted Answer

A target market is a group of people for which an organization designs,implements,and maintains a marketing mix.

Question 13

Which target marketing strategy views the market as one big market with no individual segments and thus uses a single marketing mix?

Accepted Answer

A firm using an undifferentiated targeting strategy essentially adopts a mass-market philosophy,viewing the market as one big market with no individual segments.

Question 14

Tall Paul's designs and sells household furniture and furnishings to people who are over 6'6" tall--a rather small target market.Tall Paul's uses a(n)_____ targeting strategy.

Accepted Answer

Concentrated targeting strategy selects one segment of a market for targeting marketing efforts.

Question 15

Which of the following is a potential disadvantages associated with an undifferentiated strategy?

Accepted Answer

Too often,an undifferentiated strategy emerges by default rather than design.The result is often sterile,unimaginative product offerings that have little appeal to anyone.

Question 16

When a firm uses a concentrated targeting strategy,it can:

Accepted Answer

Concentrated targeting focuses on one target market and develops a highly specialized mix.

Question 17

E&V Bridal Studios,a wedding consulting business,only works with Eastern Asian customers who want to use their cultural heritage in their wedding ceremonies.What type of segmentation strategy does the wedding consultant use?

Accepted Answer

E&V Bridal Studios concentrates on the segment of East Asians,who want a traditional wedding.

Question 18

June LaVista owns a health and fitness gym.After dividing her customers into four segments based on income range,age,level of fitness,and other selected segmentation descriptors,she wrote out a description of each segment's size,expected growth,frequency of exercise,and overall profit potential.Which step in segmenting a market is LaVista engaged in?

Accepted Answer

The profiling and analysis of the segments step in segmenting a market involves analyzing the segments' size,expected growth,purchase frequency,and so on.

Question 19

Candace Popwell makes and markets Festive Holiday Truffles candy.The confectionary company owner views the world as one big market with no individual segments and tries to reach it with only one marketing mix.Her essentially mass-market philosophy indicates she probably uses a(n)_____ strategy.

Accepted Answer

With an undifferentiated targeting strategy,the market is viewed as one big market with no individual segments and uses a single marketing mix.

Question 20

Sure Fit,Inc.has begun a rebranding strategy to let customers know it no longer only produces slipcovers,but now also carries a line of rugs,window treatments,and bedding.Its _____ is described as women with average annual household income of $60,000 or more.

Accepted Answer

The target market is a group of people or organizations for which an organization designs,implements,and maintains a marketing mix intended to meet the needs of that group.

Quiz 8: Segmenting and Targeting Markets