Market Segmentation Worksheet

Which of the following statements is true of markets?

• They are composed of people or organizations.

• They thrive only with government funds and subsidies.

• They provide discounts for every consumer.

• They influence consumers to buy products they do not need.

The purpose of market segmentation is to _______.

• change consumer attitudes and beliefs toward a product

• divide a market into submarkets of equal size and equal number of customers

• eliminate the need for developing marketing objectives

• enable a marketer to tailor marketing mixes to meet the needs of one or more specific segments

The process of defining, dividing, and subdividing a large homogenous market into clear identifiable segments having similar needs, wants, or demand characteristics is identified as _______.

• market segmentation

• a consumer market

• market criteria

• market concentration

Alice has just given birth to her first child. She needs baby products such as a crib, a changing table, diapers, a car seat, and a stroller. Marketers are trying to contact Alice because she and other new mothers have similar needs. This is an example of _______.

• a market segment

• marketing

• a business market

• market variables

Janelle is into running. As soon as she gets home from work at the hospital, she changes into her running clothes, puts on her high-quality running shoes, and goes outside to run. When her schedule permits it, Janelle participates in 5K runs to raise money for children's charities. She has met many friends who are also involved in running. The running groups that Janelle is involved with are examples of _______.

• lifestyle segmentation

• income segmentation

• benefit segmentation

• geodemographic segmentation

Grocery stores in West Texas carry a complete selection of canned Asian foods, freshly made sushi, and Asian spices. Because of the large Asian population, grocery stores want to carry products that their customers like. This is an example of _______.

• benefit segmentation

• ethnic segmentation

• age segmentation

• psychographic segmentation

The key tool in the marketing strategy of every successful organization for reaching the targeted customer is _______.

• the 80/20 principle

• improving marketing premises

• market segmentation

• market criteria

The Lincoln Company produces a wide range of furniture, such as cabinets, bookcases, and bureaus. It divides its consumer market into several groups of people who have similar interests in wooden furniture. The strategy of dividing its consumer market most likely _______.

• allows the Lincoln Company to meet the market's needs with a single marketing mix

• enables the Lincoln Company to define customer needs and wants more precisely

• eliminates the need for developing marketing objectives

• allows the Lincoln Company to use an undifferentiated targeting strategy

Vista Higher Learning markets digital workbooks to accompany textbooks for French. There is a chat capability for technical support to assist the market segment of instructors in French. Following the chat session, the instructor receives a questionnaire for rating the chat session as well as a comment box for the instructor to respond. Vista Higher Learning sends a questionnaire following each chat session for all of the following reasons EXCEPT _______.

• to adjust the design of its products

• to define the needs and wants of French instructors more precisely

• to assess the quality of its products compared to competitors

• to provide a standardized product

Which statement is true of market segmentation?

• It helps marketers design marketing mixes that match the characteristics of one or more segments.

• It allows marketers to use an undifferentiated targeting strategy.

• It allows marketers to adopt a single marketing mix across all market segments.

• It helps marketers focus on satisfying customer needs.