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A target market is a market segment that a company directs marketing effort toward in order to attract potential customers to buy its products/services/ideas.

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Presentation on theme: "A target market is a market segment that a company directs marketing effort toward in order to attract potential customers to buy its products/services/ideas."— Presentation transcript:

1 A target market is a market segment that a company directs marketing effort toward in order to attract potential customers to buy its products/services/ideas. SMS, 4e – Chapter 7 1.True2.False

2 A target market is a market segment that a company directs marketing effort toward in order to attract potential customers to buy its products/services/ideas. SMS, 4e – Chapter 7 1.True2.False

3 The primary purpose of product positioning is to: SMS, 4e – Chapter 7 1.identify new target segments 2.determine consumer needs 3.evaluate opportunities in the marketplace 4.convey benefits of the product

4 The primary purpose of product positioning is to: SMS, 4e – Chapter 7 1.identify new target segments 2.determine consumer needs 3.evaluate opportunities in the marketplace 4.convey benefits of the product

5 Baby Boomers are described in a significant dichotomy by marketers. These two groups are: SMS, 4e – Chapter 7 1.married – not married 2.young – younger 3.younger – older 4.children – no children

6 Baby Boomers are described in a significant dichotomy by marketers. These two groups are: SMS, 4e – Chapter 7 1.married – not married 2.young – younger 3.younger – older 4.children – no children

7 If men tend to shop for suits alone, then it would be foolish to put _________ in an ad to motivate them to shop for this item. SMS, 4e – Chapter 7 1.other men shopping 2.their spouse or girlfriend 3.a woman sales clerk 4.a friend

8 If men tend to shop for suits alone, then it would be foolish to put _________ in an ad to motivate them to shop for this item. SMS, 4e – Chapter 7 1.other men shopping 2.their spouse or girlfriend 3.a woman sales clerk 4.a friend

9 Marketing segmentation is a strategy for dividing a market into similar need groups and meeting these needs with unique and differentiable marketing efforts. SMS, 4e – Chapter 7 1.True2.False

10 Marketing segmentation is a strategy for dividing a market into similar need groups and meeting these needs with unique and differentiable marketing efforts. SMS, 4e – Chapter 7 1.True2.False

11 Segmented marketing requires targeting products to the specific needs of well-defined customer groups. SMS, 4e – Chapter 7 1.True2.False

12 Segmented marketing requires targeting products to the specific needs of well-defined customer groups. SMS, 4e – Chapter 7 1.True2.False

13 The two main reasons for segmenting by brand is to target actual purchasers and to identify prospective purchasers. SMS, 4e – Chapter 7 1.True2.False

14 The two main reasons for segmenting by brand is to target actual purchasers and to identify prospective purchasers. SMS, 4e – Chapter 7 1.True2.False

15 VALS segmentation groups consumers according to their values and norms. SMS, 4e – Chapter 7 1.True2.False

16 VALS segmentation groups consumers according to their values and norms. SMS, 4e – Chapter 7 1.True2.False

17 Organizational buyers can be segmented behaviorally by the products they buy or the frequency with which they buy. SMS, 4e – Chapter 7 1.True2.False

18 Organizational buyers can be segmented behaviorally by the products they buy or the frequency with which they buy. SMS, 4e – Chapter 7 1.True2.False

19 When a company offers one basic product without distinguishing between different customer needs and characteristics, this is known as: SMS, 4e – Chapter 7 1.mass marketing 2.market segmentation 3.benefit segmentation 4.behavioral segmentation 5.segmenting by consumer characteristics

20 When a company offers one basic product without distinguishing between different customer needs and characteristics, this is known as: SMS, 4e – Chapter 7 1.mass marketing 2.market segmentation 3.benefit segmentation 4.behavioral segmentation 5.segmenting by consumer characteristics

21 A retail store that has one product, one price, and a standard set of inflexible hours is practicing: SMS, 4e – Chapter 7 1.market segmentation 2.product differentiation 3.mass marketing 4.normative marketing

22 A retail store that has one product, one price, and a standard set of inflexible hours is practicing: SMS, 4e – Chapter 7 1.market segmentation 2.product differentiation 3.mass marketing 4.normative marketing

23 If a winery that is noted for its “Cabernet” wines branches off into other varieties like “Chardonnay” and “Pinot Noir,” they are probably practicing: SMS, 4e – Chapter 7 1.mass marketing 2.market segmentation 3.heterogeneous marketing 4.normative marketing

24 If a winery that is noted for its “Cabernet” wines branches off into other varieties like “Chardonnay” and “Pinot Noir,” they are probably practicing: SMS, 4e – Chapter 7 1.mass marketing 2.market segmentation 3.heterogeneous marketing 4.normative marketing

25 When a soft drink company identifies a weight watcher segment, this is an example of: SMS, 4e – Chapter 7 1.benefit segmentation 2.behavioral segmentation 3.segmenting by consumer characteristics 4.mass marketing 5.lifestyle segmentation

26 When a soft drink company identifies a weight watcher segment, this is an example of: SMS, 4e – Chapter 7 1.benefit segmentation 2.behavioral segmentation 3.segmenting by consumer characteristics 4.mass marketing 5.lifestyle segmentation

27 A soft drink company that tries to determine the characteristics of drinkers of caffeine-free brands is engaged in: SMS, 4e – Chapter 7 1.benefit segmentation 2.behavioral segmentation 3.segmenting by consumer characteristics 4.mass marketing 5.lifestyle segmentation

28 A soft drink company that tries to determine the characteristics of drinkers of caffeine-free brands is engaged in: SMS, 4e – Chapter 7 1.benefit segmentation 2.behavioral segmentation 3.segmenting by consumer characteristics 4.mass marketing 5.lifestyle segmentation

29 When consumers are grouped according to income, age, sex, or race, this is known as: SMS, 4e – Chapter 7 1.demographic segmentation 2.product-line segmentation 3.concentrated segmentation 4.lifestyle segmentation 5.personality segmentation

30 When consumers are grouped according to income, age, sex, or race, this is known as: SMS, 4e – Chapter 7 1.demographic segmentation 2.product-line segmentation 3.concentrated segmentation 4.lifestyle segmentation 5.personality segmentation

31 When Chrysler/Jeep advertises four-wheel drive cars to rural consumers, this is an example of: SMS, 4e – Chapter 7 1.differentiated segmentation 2.product-line segmentation 3.market-segment expansion 4.concentrated segmentation

32 When Chrysler/Jeep advertises four-wheel drive cars to rural consumers, this is an example of: SMS, 4e – Chapter 7 1.differentiated segmentation 2.product-line segmentation 3.market-segment expansion 4.concentrated segmentation

33 The ability of a company to reach a segment with media in order to deliver its advertising messages is known as the segment’s: SMS, 4e – Chapter 7 1.demographics 2.accessibility 3.lifestyle 4.personality characteristics 5.behavioral orientation

34 The ability of a company to reach a segment with media in order to deliver its advertising messages is known as the segment’s: SMS, 4e – Chapter 7 1.demographics 2.accessibility 3.lifestyle 4.personality characteristics 5.behavioral orientation

35 Targeting one product to one segment is known as: SMS, 4e – Chapter 7 1.differentiated marketing 2.product-line marketing 3.market-segment expansion 4.concentrated marketing

36 Targeting one product to one segment is known as: SMS, 4e – Chapter 7 1.differentiated marketing 2.product-line marketing 3.market-segment expansion 4.concentrated marketing

37 A perceptual map allows marketers to identify consumers’ perceptions of their brand in relation to the competition. SMS, 4e – Chapter 7 1.True2.False

38 A perceptual map allows marketers to identify consumers’ perceptions of their brand in relation to the competition. SMS, 4e – Chapter 7 1.True2.False

39 In customer relationship management (CRM), a customer’s value is based on a single transaction. SMS, 4e – Chapter 7 1.True2.False

40 In customer relationship management (CRM), a customer’s value is based on a single transaction. SMS, 4e – Chapter 7 1.True2.False

41 The potential profit generated by a single customer’s purchase of a firm’s products over the customer’s lifetime is the market share for that customer. SMS, 4e – Chapter 7 1.True2.False

42 The potential profit generated by a single customer’s purchase of a firm’s products over the customer’s lifetime is the market share for that customer. SMS, 4e – Chapter 7 1.True2.False

43 CRM success depends upon how well the company has implemented the marketing concept. SMS, 4e – Chapter 7 1.True2.False

44 CRM success depends upon how well the company has implemented the marketing concept. SMS, 4e – Chapter 7 1.True2.False

45 When a marketing plan is implemented, most likely repositioning will be unnecessary. SMS, 4e – Chapter 7 1.True2.False

46 When a marketing plan is implemented, most likely repositioning will be unnecessary. SMS, 4e – Chapter 7 1.True2.False

47 A segmentation technique that combines geography with demographics is: SMS, 4e – Chapter 7 1.VALS 2.behavioral segmentation 3.geodemography 4.psychodemographics

48 A segmentation technique that combines geography with demographics is: SMS, 4e – Chapter 7 1.VALS 2.behavioral segmentation 3.geodemography 4.psychodemographics

49 A description of the “typical” customer in a segmentation is a(n): SMS, 4e – Chapter 7 1.segment profile 2.undifferentiated targeting strategy 3.differentiated target 4.target market

50 A description of the “typical” customer in a segmentation is a(n): SMS, 4e – Chapter 7 1.segment profile 2.undifferentiated targeting strategy 3.differentiated target 4.target market

51 Market fragmentation occurs when: SMS, 4e – Chapter 7 1.a larger market is divided into smaller pieces 2.the total market is divided into different segments 3.new products are developed to meet the needs of specific audiences 4.people’s diverse interests and backgrounds divide them into numerous groups with distinct needs and wants

52 Market fragmentation occurs when: SMS, 4e – Chapter 7 1.a larger market is divided into smaller pieces 2.the total market is divided into different segments 3.new products are developed to meet the needs of specific audiences 4.people’s diverse interests and backgrounds divide them into numerous groups with distinct needs and wants

53 The cosmetics company Hard Candy sells its funky line of nail polish and other products only to “twenty- something” women. This is an example of: SMS, 4e – Chapter 7 1.concentrated targeting strategy 2.custom marketing strategy 3.mass customization 4.segment profile

54 The cosmetics company Hard Candy sells its funky line of nail polish and other products only to “twenty- something” women. This is an example of: SMS, 4e – Chapter 7 1.concentrated targeting strategy 2.custom marketing strategy 3.mass customization 4.segment profile

55 The 80/20 rule affirms that: SMS, 4e – Chapter percent of purchases account for 80 percent of a product’s sales 2.80 percent of consumers are unhappy 20 percent of the time 3.20 percent of sales increase by 80 percent every year 4.For every 80 first time users of a product, only 20 will repeat buy

56 The 80/20 rule affirms that: SMS, 4e – Chapter percent of purchases account for 80 percent of a product’s sales 2.80 percent of consumers are unhappy 20 percent of the time 3.20 percent of sales increase by 80 percent every year 4.For every 80 first time users of a product, only 20 will repeat buy

57 The process of dividing a larger market into smaller pieces based on one or more distinctive, shared characteristics is called: SMS, 4e – Chapter 7 1.segmentation 2.segregation 3.fragmentation 4.separation

58 The process of dividing a larger market into smaller pieces based on one or more distinctive, shared characteristics is called: SMS, 4e – Chapter 7 1.segmentation 2.segregation 3.fragmentation 4.separation


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