sms, 4e – chapter 7
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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. SMS, 4e – Chapter 7. - PowerPoint PPT PresentationTRANSCRIPT
![Page 1: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/1.jpg)
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. True 2. False
![Page 2: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/2.jpg)
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. True 2. False
![Page 3: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/3.jpg)
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
![Page 4: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/4.jpg)
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
![Page 5: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/5.jpg)
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
![Page 6: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/6.jpg)
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
![Page 7: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/7.jpg)
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
![Page 8: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/8.jpg)
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
![Page 9: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/9.jpg)
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. True 2. False
![Page 10: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/10.jpg)
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. True 2. False
![Page 11: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/11.jpg)
Segmented marketing requires targeting products to the specific needs
of well-defined customer groups.
SMS, 4e – Chapter 7
1. True 2. False
![Page 12: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/12.jpg)
Segmented marketing requires targeting products to the specific needs
of well-defined customer groups.
SMS, 4e – Chapter 7
1. True 2. False
![Page 13: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/13.jpg)
The two main reasons for segmenting by brand is to target actual purchasers
and to identify prospective purchasers.
SMS, 4e – Chapter 7
1. True 2. False
![Page 14: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/14.jpg)
The two main reasons for segmenting by brand is to target actual purchasers
and to identify prospective purchasers.
SMS, 4e – Chapter 7
1. True 2. False
![Page 15: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/15.jpg)
VALS segmentation groups consumers
according to their values and norms.
SMS, 4e – Chapter 7
1. True 2. False
![Page 16: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/16.jpg)
VALS segmentation groups consumers
according to their values and norms.
SMS, 4e – Chapter 7
1. True 2. False
![Page 17: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/17.jpg)
Organizational buyers can be segmented behaviorally by the products they buy or the frequency with
which they buy.
SMS, 4e – Chapter 7
1. True 2. False
![Page 18: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/18.jpg)
Organizational buyers can be segmented behaviorally by the products they buy or the frequency with
which they buy.
SMS, 4e – Chapter 7
1. True 2. False
![Page 19: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/19.jpg)
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
![Page 20: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/20.jpg)
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
![Page 21: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/21.jpg)
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
![Page 22: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/22.jpg)
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
![Page 23: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/23.jpg)
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
![Page 24: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/24.jpg)
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
![Page 25: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/25.jpg)
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
![Page 26: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/26.jpg)
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
![Page 27: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/27.jpg)
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
![Page 28: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/28.jpg)
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
![Page 29: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/29.jpg)
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
![Page 30: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/30.jpg)
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
![Page 31: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/31.jpg)
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
![Page 32: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/32.jpg)
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
![Page 33: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/33.jpg)
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
![Page 34: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/34.jpg)
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
![Page 35: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/35.jpg)
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
![Page 36: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/36.jpg)
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
![Page 37: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/37.jpg)
A perceptual map allows marketers to identify consumers’ perceptions of their brand in relation to the competition.
SMS, 4e – Chapter 7
1. True 2. False
![Page 38: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/38.jpg)
A perceptual map allows marketers to identify consumers’ perceptions of their brand in relation to the competition.
SMS, 4e – Chapter 7
1. True 2. False
![Page 39: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/39.jpg)
In customer relationship management (CRM), a customer’s value is based on a single transaction.
SMS, 4e – Chapter 7
1. True 2. False
![Page 40: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/40.jpg)
In customer relationship management (CRM), a customer’s value is based on a single transaction.
SMS, 4e – Chapter 7
1. True 2. False
![Page 41: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/41.jpg)
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. True 2. False
![Page 42: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/42.jpg)
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. True 2. False
![Page 43: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/43.jpg)
CRM success depends upon how well the company has implemented the
marketing concept.
SMS, 4e – Chapter 7
1. True 2. False
![Page 44: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/44.jpg)
CRM success depends upon how well the company has implemented the
marketing concept.
SMS, 4e – Chapter 7
1. True 2. False
![Page 45: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/45.jpg)
When a marketing plan is implemented, most likely repositioning will be
unnecessary.
SMS, 4e – Chapter 7
1. True 2. False
![Page 46: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/46.jpg)
When a marketing plan is implemented, most likely repositioning will be
unnecessary.
SMS, 4e – Chapter 7
1. True 2. False
![Page 47: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/47.jpg)
A segmentation technique that combines geography with demographics is:
SMS, 4e – Chapter 7
1. VALS
2. behavioral segmentation
3. geodemography
4. psychodemographics
![Page 48: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/48.jpg)
A segmentation technique that combines geography with demographics is:
SMS, 4e – Chapter 7
1. VALS
2. behavioral segmentation
3. geodemography
4. psychodemographics
![Page 49: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/49.jpg)
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
![Page 50: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/50.jpg)
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
![Page 51: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/51.jpg)
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
![Page 52: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/52.jpg)
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
![Page 53: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/53.jpg)
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
![Page 54: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/54.jpg)
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
![Page 55: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/55.jpg)
The 80/20 rule affirms that:
SMS, 4e – Chapter 7
1. 20 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
![Page 56: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/56.jpg)
The 80/20 rule affirms that:
SMS, 4e – Chapter 7
1. 20 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
![Page 57: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/57.jpg)
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
![Page 58: SMS, 4e – Chapter 7](https://reader036.vdocument.in/reader036/viewer/2022062321/56814098550346895dac32f8/html5/thumbnails/58.jpg)
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