Marketing Segmentation and Targeting Quiz

What is the purpose of market segmentation?

• To identify and adapt to dynamic marketing opportunities

• To limit the customer base

• To reduce customer satisfaction

• To increase production costs

What are the three important reasons for marketers to segment markets?

• To increase competition, reduce costs, and limit customer choices

• To identify groups of customers with similar needs, design marketing mixes, and satisfy customer wants and needs

• To decrease sales, minimize profits, and reduce market share

• To ignore customer needs, reduce marketing objectives, and allocate resources inefficiently

What are the four criteria that a segmentation scheme must meet to be useful?

• Substantiality, identifiability, accessibility, and responsiveness

• Substantiality, unidentifiability, inaccessibility, and unresponsiveness

• Substantiality, identifiability, inaccessibility, and unresponsiveness

• Substantiality, identifiability, accessibility, and unresponsiveness

What is the purpose of undifferentiated targeting strategy?

• To view the market as one big market with no individual segments and use a single marketing mix

• To develop a specific marketing mix to influence potential customers' overall perception

• To concentrate on understanding the needs of a specific market segment

• To choose two or more well-defined market segments and develop a distinct marketing mix for each

What is the purpose of concentrated targeting strategy?

• To concentrate on understanding the needs of a specific market segment

• To choose two or more well-defined market segments and develop a distinct marketing mix for each

• To view the market as one big market with no individual segments and use a single marketing mix

• To develop a specific marketing mix to influence potential customers' overall perception

What is the purpose of multisegment targeting strategy?

• To choose two or more well-defined market segments and develop a distinct marketing mix for each

• To view the market as one big market with no individual segments and use a single marketing mix

• To develop a specific marketing mix to influence potential customers' overall perception

• To concentrate on understanding the needs of a specific market segment

What is the purpose of positioning in marketing?

• To identify and adapt to dynamic marketing opportunities

• To reduce customer satisfaction

• To develop a specific marketing mix to influence potential customers' overall perception

• To increase production costs

What is the purpose of repositioning in marketing?

• To choose two or more well-defined market segments and develop a distinct marketing mix for each

• To change consumers' perceptions of a brand in relation to competing brands

• To develop a specific marketing mix to influence potential customers' overall perception

• To view the market as one big market with no individual segments and use a single marketing mix

What are the positioning bases used by firms?

• Attribute, price and quality, use or application, and product class

• Attribute, price and quality, use or application, and product user

• Attribute, price and quality, use or application, and competitor

• Attribute, price and quality, use or application, and emotion

What are the trends that will lead to the continued growth of CRM?

• Personalization, time savings, loyalty, and satisfaction

• Personalization, time savings, loyalty, and competition

• Personalization, time savings, competition, and technology

• Personalization, time savings, loyalty, and technology