NEW
Font size
WorksheetsUnit 4 Exam Review - Market Segmenting and Market Research
Total questions: 25
Worksheet time: 25mins
The purpose of market segmentation is to:
reduce the market down to a size the firm can handle.
enable the marketer to tailor marketing mixes to meet the needs of one or more specific groups.
group a large number of markets together, enabling a company to serve them simultaneously.
develop a generalized definition of the market as a whole.
Coca-Cola launched a new Black History television commercial on BET to coincide with the Martin Luther King Jr. holiday. The ad is just one element of a strategy for connecting with African American consumers. Coca-Cola’s segmentation plan for this promotional campaign is based on _____ segmentation.
demographic
sociocultural attributes
psychographic
usage rate
Which of the following statements best describes the reason marketers find geodemographic segmentation so effective?
“A bird in the hand is worth two in the bush.”
“Every action has an opposite and equal reaction.”
“Birds of a feather flock together.”
“Don’t put all of your eggs in one basket.”
When assessing the quality of secondary data, it is:
not necessary to know why the data were collected in the first place.
important to be able to have easy access to the data.
important to know the purpose for which the data were originally collected.
not important to know when the data were collected.
A market is people or organizations that have:
the ability, willingness, and power to buy.
a medium of exchange and products they desire.
needs and wants and an ability and willingness to buy.
unmet needs or wants and products or services that satisfy those unmet needs or wants.
A furniture manufacturer wants to test how consumers will respond to furniture upholstered in fabric made from recycled plastic by having consumers feel and respond to the fabric. Which form of survey would allow it to do this?
A telephone interview
A mail questionnaire
A mall intercept
An observation study
Everyday information about developments in the marketing environment that managers use to prepare and adjust marketing plans is referred to as:
competitive intelligence.
marketing information.
decision support information.
marketing research.
_____ are characteristics of individuals, groups, or organizations that marketers use to divide a total market into segments.
Differentiation guides
Segmentation bases
Perceptual maps
Responsiveness quotients
The place a product, brand, or group of products occupies in consumers’ minds relative to competing offerings is referred to as a product’s:
status.
equity.
frame.
position.
Through marketing research, the Boston Symphony Orchestra (BSO) learned it has an older market and is not attracting younger concertgoers. It next conducted marketing research to determine if an integrated advertising campaign targeted to the younger market would be successful. In its second use of research, BSO employed _____ marketing research.
historical
descriptive
predictive
normative
The first step in the marketing research process is to:
identify and formulate the problem/opportunity to be studied.
collect the data.
analyze the marketplace.
plan the research design.
Computer-assisted personal interviewing and computer-assisted self-interviewing are computerized techniques for conducting:
CLT interviews.
mall intercept interviews.
e-mail interviews.
in-home interviews.
Your supervisor has instructed you to conduct a marketing research effort that will determine how your company’s business customer demographics have changed. You have also been instructed to use primary data. You will:
gather data from Standard & Poor’s General Information File.
develop a mail survey to study your primary market.
employ studies done by the Federal Trade Commission.
make sure you locate Internet information by using a search engine.
A retailer of sporting goods equipment is interested in learning peoples’ attitudes, motivations, and feelings about its product lines. All of the following are potential sources for this information EXCEPT:
observation studies.
mail questionnaires.
in-store interviews.
telephone surveys.
All of the following are advantages of using a concentrated targeting strategy EXCEPT:
concentration of resources.
cannibalization.
allows some small firms to better compete with larger firms.
strong positioning.
What does the 80/20 principle propose?
Roughly 80 percent of the profit comes from 20 percent of the sales.
Roughly 80 percent of a firm’s customers are repeat business.
Roughly 50 percent of a firm’s customers purchase 80 percent of the sales volume of the product.
Roughly 20 percent of a firm’s customers purchase 80 percent of the sales volume of the product.
Which type of segmentation divides a market by the amount of product bought or consumed?
Benefit segmentation
Characteristic segmentation
Usage-rate segmentation
Demographic segmentation
A series of stages determined by a combination of age, marital status, and the presence or absence of children is known as the:
generation gap.
family life cycle.
maturation process.
segmentation cycle.
Almost all cell phones sold in the United States are black or gray. Almost all cell phones sold in Europe are colorful, and very few black phones are sold. A cell phone manufacturer knowing this information could use _____ segmentation when selling its phones internationally.
geographic
economic
demographic
benefit
To be useful, a segmentation scheme must produce segments that meet four basic criteria. The criteria are:
segmentability, targetability, reliability and validity, and homogeneity.
tangibility, inseparability, nonperishability, and uniqueness.
substantiality, identifiability and measurability, accessibility, and responsiveness.
reliability, flexibility, tangibility, and unbiased.
Which of the following is a type of survey that involves interviewing businesspeople at their offices concerning individual products or services?
Place-based interviews
CLT interviews
Business panel surveys
Executive interviews
Low response rate is a problem commonly associated with:
exit interviews.
executive interviews.
mail surveys.
mall intercept interviews.
Telephone interviews offer:
speed in gathering data.
a potential for reaching all households.
few nonresponses.
the ability to collect large amounts of complex data.
According to the text, a true marketing decision support system should be interactive, which means:
managers can probe for trends, isolate problems, and ask “what if” questions.
managers who aren’t skilled with computers can easily learn to use the system.
managers are able to sort, regroup, total, average, and manipulate data in various ways.
managers can give simple instructions and see immediate results.
_____ is a method that clusters potential customers into neighborhood lifestyle categories and is a combination of geographic, demographic, and lifestyle segmentations.
Geodemographic segmentation
Microsegmentation
Sociocultural clustering
Acculturation
