Stukent Ch 4 Quiz Review

True or False: Companies who properly identify and market to their target audience will increase their annual profit growth by 200 percent.

• True

• False

Which of the following terms are approaches are used in market segmentation?

• Funnel and widespread

• Concentration and multi-segment

• Dual and singular

• Analytic and predictive

True or False: You can use the same marketing mix for all market segments.

• True

• False

Which of the following is NOT true of the concentration method?

• Higher ROI Potential

• Good for new businesses

• Higher potential for growth

• Lower Marketing Costs

Which of the following is not true of the multi-segment method?

• Higher sales and profit potential

• It's cheaper to implement

• Requires multiple marketing mixes

• Requires more time to identify segments

Which of the following is NOT one of the seven major types of market segmentation

• Purchasing Patterns

• Generational

• Demographic

• Benefits

• All are correct

True or False: Psychographic segmentation takes data like geography and demographics and then includes even more purchasing factors, like values, lifestyle, social class, individual personalities, etc.

• True

• False

When selecting your target market, you must consider the following factors 1) How you can measure success, 2) What access you have to the market, 3) If you can maintain your marketing efforts and, 4) 

• Where your market fits in the buying process

• What your customer's preferences are

• Where your market is located

• Why your market wants the product

You need to get your product in front of your market a minimum of _______ times within an 18-month period for optimum market penetration and customer conversion.

• Nine

• Three

• Six

• Seven

True or False: The buyer and the decision maker are always the same person.

• True

• False