MKT Chpt 6-8

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

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

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

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

• Heterogenous

• Undifferentiated

• Concentrated

• Homogenous

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

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

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

• Behavioristic

• Psychographic

• Geographic

• Demographic

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.

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

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.