Which of the following is not a factor influencing company sales potential?

Costs of reaching certain market segments

Intensity of marketing activities relative to competitors

Magnitude of industry-wide marketing activities

Ping wants to market his low-fat cupcake recipe by starting his own business. He has segmented the market using demographic and psychographic variables. He has determined what similarities his target customers have with one another, as well as what differentiates them from non-customers. Ping is at what stage of the target market selection process?

Develop market segment profiles

Determine which segmentation variables to use

Evaluate relevant market segments

Which of the following questions is relevant to the selecting target markets stage of the target market selection process?

Does the company have sufficient financial resources to compete in selected segments?

What similarities do potential customers within a market segment share?

Which segmentation variables should be selected to target a chosen market segment?

What are the potential sales that are possible for a selected market segment?

When might a firm decide not to select a target market segment?

When it is using an undifferentiated targeting strategy

If the market potential is lower than the company sales potential

Whenever the market is heterogenous in nature

If there is no way for the firm to develop sales forecasts

Which of the following purchasing situations is most likely to have the highest level of involvement?

Kamil has saved for years to purchase an Audi sports car.

Shelby is purchasing another diamond bracelet from her favorite jewelry company.

Farrah spends hundreds of dollars to purchase trading cards.

Troy is purchasing a new heating and air conditioning unit for his house.

Which of the following best exemplifies impulse buying?

Nash grabs a candy bar as he stands in the checkout line with his groceries.

Mariana opts for a particular appliance because of the warranty being offered.

Shannon feels she didn’t spend enough time researching her stereo before purchase.

Tony enters a convenience store looking for his favorite brand of gum.

Which of the following purchasing behaviors is not an example of situational influences on a buyer's purchase?

Vincent purchases from a company that makes goods from recycled materials because it aligns with his values.

Ayami forgot to purchase a textbook for tomorrow’s class. Ayami agrees to pay extra to expedite the delivery of the book.

Aditi is purchasing a mother's day gift. Because her mother loves tea, she goes to a fancy tearoom to look for gifts.

Lev travels to a nearby drugstore to purchase aspirin after two days of aches and pains post-surgery.

After a yoga pants product recall, a yoga clothing company released a campaign marketing its new and improved line of yoga pants. It also released a line of yoga mats targeted toward yoga lovers who spend at least an hour each day engaging in the activity. The campaigns are an attempt to change which of the following?

The first campaign is an attempt to change attitudes; the second campaign appeals to customer lifestyles.

The first campaign is an attempt to change perceptions; the second campaign appeals to customer learning.

The first campaign is an attempt to change personalities; the second campaign appeals to customer attitudes.

The first campaign is an attempt to change motivations; the second campaign appeals to customer self-concepts.

In Which of the following situations are family influences most likely to impact their purchase?

Shopping for single-serve meals

Which of the following statements about consumer misbehavior is false?

Consumer misbehavior is always illegal.

Consumer misbehavior is more than just consumer fraud.

Consumer misbehavior may occur due to the thrill of it.

Consumer misbehavior increases costs.

What is a major difference between how consumer markets and business markets purchase and use products?

Quantity purchased and buying methods

Adoption of a strong marketing mix

How and when products are distributed

Variety of product offerings available

Which of the following is not an example of a reseller market?

A manufacturer of computing equipment that sells directly to companies through its website

A retailer that purchases goods from wholesalers and sells them to consumers in stores

A wholesaler of business products that buys large product quantities and sells them to retailers

A national distributor that buys products from manufacturers and sells them to wholesalers

Miracle is applying for a business license to open a board game shop in a major U.S. city. As she applies for a business license, she comes across a question asking her to choose a numbered code for her business. After conducting some research, Miracle discovers the code represents the type of industry in which her business will operate. This code is most likely part of which of the following?

North American Industry Classification System (NAICS)

Business Directory from Dun & Bradstreet

Tax ID required for Miracle’s business registration

Type of buying center Miracle will choose

Which of the following is true about the North American Industry Classification System?

It provides consistent means for categorizing organizations into groups.

It is relatively common for NAICS information to be outdated.

It has no easy way to differentiate between high-tech goods and services.

It is the most detailed data service available when searching for customers.

MKT Chpt 6-8 Quiz

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

João sells soybeans to local farmers markets and grocery stores. Because the total market has similar needs for soybeans, João likely uses which targeting strategy?

Concentrated targeting strategy

Market segmentation strategy

Differentiated targeting strategy

Undifferentiated targeting strategy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

As the world’s largest retailer, Walmart is known for selling a variety of goods, including groceries, household goods, clothing, and electronics, at everyday low prices. Walmart can best be described as targeting which of the following markets?

Industrial

Business-to-consumer

Homogenous

Business-to-business

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Shelby works in the procurement department of an office furniture store. Although her company’s customers sometimes buy products for their personal offices, the majority of sales are made to other organizations that need office furniture for their personnel. As a result, the majority of the company’s customers come from what type of market?

Consumer

Business

Homogenous

Concentrated

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If an organization uses market segmentation, it means the market is most likely which of the following?

Heterogenous

Undifferentiated

Concentrated

Homogenous

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Home Depot is a large home improvement retailer. The company tends to market its products to consumers. However, The Home Depot Pro markets items such as building materials to contractors and professionals looking to improve their businesses. What type of targeting strategy is The Home Depot most likely to use?

Differentiated targeting strategy

Concentrated targeting strategy

Market segmentation strategy

Undifferentiated targeting strategy

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Viraj owns a retail store specializing in selling baby and infant products. The store contains a section for expecting parents, another section for newborns, and another section for infants. Viraj segments the store based on which type of segmentation variable?

Behavioristic

Demographic

Psychographic

Geographic

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of segmentation base allows marketers to engage in micromarketing?

Behavioristic

Psychographic

Geographic

Demographic

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Constantine owns a coffee shop. Constantine has a customer loyalty program that rewards customers based on how often they visit the store. Every time a customer visits the store, they receive points. When they obtain 100 points, customers get a free coffee. Constantine also sells some specialty coffees at higher prices. These coffees are made in small batches according to strict standards and are made for coffee lovers who pride themselves on their discerning, high standards for coffee. Constantine’s customer loyalty program segments and specialty coffees are based on which type of variables?

Customer loyalty segments are based on behavioristic variables; specialty coffees are based on psychographic variables.

Customer loyalty segments are based on psychographic variables; specialty coffees are based on demographic variables.

Customer loyalty segments are based on behavioristic variables; specialty coffees are based on demographic variables.

Customer loyalty segments are based on psychographic variables; specialty coffees are based on behavioristic variables.

9.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A manufacturer of consumer goods sells to retail and wholesale organizations. Each type of organization has varying needs and uses for its products. The manufacturer offers different deals for these organizations based on how many items the companies buy at once. The more bulk items purchased, the better the deal. It also uses personal selling to develop relationships with their more lucrative customers. What type of business segmentation variable is most likely being utilized?

Customer size

Product use

Type of organization

Geographic location

10.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important for marketers to create market segment profiles before evaluating the relevant market segments?

It enables marketers to choose which targeting strategy and segmentation variables to use.

It allows businesses to develop and maintain a marketing mix specifically designed to satisfy the needs of group members.

It helps marketers determine how they can use their firms’ capabilities to serve potential customer groups.

It helps firms analyze potential sales for a market and assess how the firm will perform against competitors.

MKT Chpt 6-8

60 questions

João sells soybeans to local farmers markets and grocery stores. Because the total market has similar needs for soybeans, João likely uses which targeting strategy?

As the world’s largest retailer, Walmart is known for selling a variety of goods, including groceries, household goods, clothing, and electronics, at everyday low prices. Walmart can best be described as targeting which of the following markets?

If an organization uses market segmentation, it means the market is most likely which of the following?

Viraj owns a retail store specializing in selling baby and infant products. The store contains a section for expecting parents, another section for newborns, and another section for infants. Viraj segments the store based on which type of segmentation variable?

Which type of segmentation base allows marketers to engage in micromarketing?

Why is it important for marketers to create market segment profiles before evaluating the relevant market segments?

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