Question 1

Regardless of whether a marketer is working B2B or B2C, the logic in market sizing estimation is always the same-start with the price of the product and multiply it by the size of the target market.

Accepted Answer

A) True 
 B)False

Question 2

The Census.gov website cross-classifies businesses by sector and size.

Accepted Answer

A) True 
 B)False  True

Question 3

Top-down and bottom-up perspectives are available to assess the attractiveness of each segment in terms of its potential for targeting, but only the top-down perspective should be considered.

Accepted Answer

A) True 
 B)False

Question 4

How do marketers estimate the size of a market? Explain.

Accepted Answer

Market sizing isn't difficult.Good demog...

Question 5

If a market doesn't look so great, but a firm is awesome at creating products for it, the key question is whether the firm can

Accepted Answer

A)   conduct market research.
B)   develop a market.
C)   strategically segment the market.
D)   develop even better products.

Question 6

Tyson wants to sell his services as a fitness and nutrition consultant.When he is estimating profitability, what factor does he need to consider that a business selling goods does not need to consider?

Accepted Answer

A factor that will enter into the profitability estimates derives from the quality of people hired to offer the consultation.Services are usually associated with more variable costs than goods.Fixed costs for selling goods as varied as cereals and laptops include a plant, some machines, a few employees, and so forth; the variable costs would include things like our suppliers' raw materials.In services such as retail, a fixed cost would be the shop, some equipment, and so forth, but many materials and the employees themselves would be variable costs because, as the retail service takes off, it would need a bigger staff.

Question 7

Marketers try to serve the segments whose needs match their __________, and in doing so hope to make very happy and loyal customers who will be very profitable.

Accepted Answer

A)   abilities to deliver
B)   opportunities
C)   financial resources
D)   targets

Question 8

Threats are

Accepted Answer

A)   internal and favorable.
B)   internal and unfavorable.
C)   external and favorable.
D)   external and unfavorable.

Question 9

Opportunities and threats are usually driven by changes in one of the 5Cs.

Accepted Answer

A) True 
 B)False

Question 10

What is the method for trying to objectively assess one's own corporate strengths?

Accepted Answer

A)   STP
B)   SWOT analysis
C)   4Ps
D)   5Cs

Question 11

Corporate strengths should be assessed relative to a firm's competitors in order to understand customers and their

Accepted Answer

A)   market segments.
B)   awareness.
C)   demographics.
D)   purchase choices.

Question 12

Two important strategic criteria for targeting segments include the firm's strengths and the attractiveness of the segment.

Accepted Answer

A) True 
 B)False

Question 13

SWOTs are useful in clarifying __________ marketing questions.

Accepted Answer

A)   few
B)   most
C)   all
D)   no

Question 14

In conducting a SWOT analysis, marketers are likely to collect some market research data on customers, such as perceptual maps and information about brands and products.

Accepted Answer

A) True 
 B)False

Question 15

Final probability estimates require information such as industry knowledge or data that may be obtained from

Accepted Answer

A)   surveying customers.
B)   moving averages.
C)   SWOT analysis.
D)   surveying suppliers.

Question 16

If a market looks attractive, but a firm is not particularly skilled in the market, a key question is whether the firm can develop sufficient

Accepted Answer

A)   opportunities.
B)   segments.
C)   capabilities.
D)   products. C

Question 17

How do marketers choose segments to target?

Accepted Answer

There are two perspectives in assessing ...

Question 18

Bob thinks that a new RV business in his area would not face much local competition.How does he size the market? Include formulas in your answer.

Accepted Answer

Bob needs to start with the total popula...

Question 19

Some customer segments are high maintenance and not worth serving.

Accepted Answer

A) True 
 B)False

Question 20

Which calculation is the most accurate way to estimate the size of a market?

Accepted Answer

A)   [population × %aware × %trial × %repeat ] × Per annum purchase
B)   [population × %trial × per annum purchase] × %repeat
C)   population × %aware
D)   population × %aware × %trial × %repeat

Exam 4: Targeting

Regardless of whether a marketer is working B2B or B2C, the logic in market sizing estimation is always the same-start with the price of the product and multiply it by the size of the target market.

Correct Answer
verified

The Census.gov website cross-classifies businesses by sector and size.

Correct Answer
verified
True

Top-down and bottom-up perspectives are available to assess the attractiveness of each segment in terms of its potential for targeting, but only the top-down perspective should be considered.

Correct Answer
verified

How do marketers estimate the size of a market? Explain.

Correct Answer
verified
Market sizing isn't difficult.Good demog...
View Answer

If a market doesn't look so great, but a firm is awesome at creating products for it, the key question is whether the firm can

Correct Answer
verified

Tyson wants to sell his services as a fitness and nutrition consultant.When he is estimating profitability, what factor does he need to consider that a business selling goods does not need to consider?

Marketers try to serve the segments whose needs match their __________, and in doing so hope to make very happy and loyal customers who will be very profitable.

Correct Answer
verified

Threats are

Correct Answer
verified

Opportunities and threats are usually driven by changes in one of the 5Cs.

Correct Answer
verified

What is the method for trying to objectively assess one's own corporate strengths?

Correct Answer
verified

Corporate strengths should be assessed relative to a firm's competitors in order to understand customers and their

Correct Answer
verified

Two important strategic criteria for targeting segments include the firm's strengths and the attractiveness of the segment.

Correct Answer
verified

SWOTs are useful in clarifying __________ marketing questions.

Correct Answer
verified

In conducting a SWOT analysis, marketers are likely to collect some market research data on customers, such as perceptual maps and information about brands and products.

Correct Answer
verified

Final probability estimates require information such as industry knowledge or data that may be obtained from

Correct Answer
verified

If a market looks attractive, but a firm is not particularly skilled in the market, a key question is whether the firm can develop sufficient

Correct Answer
verified
C

How do marketers choose segments to target?

Correct Answer
verified
There are two perspectives in assessing ...
View Answer

Bob thinks that a new RV business in his area would not face much local competition.How does he size the market? Include formulas in your answer.

Correct Answer
verified
Bob needs to start with the total popula...
View Answer

Some customer segments are high maintenance and not worth serving.

Correct Answer
verified

Which calculation is the most accurate way to estimate the size of a market?

Correct Answer
verified

Exam 4: Targeting

Regardless of whether a marketer is working B2B or B2C, the logic in market sizing estimation is always the same-start with the price of the product and multiply it by the size of the target market.

Correct AnswerverifiedShow Answer

The Census.gov website cross-classifies businesses by sector and size.

Correct AnswerverifiedTrue

Top-down and bottom-up perspectives are available to assess the attractiveness of each segment in terms of its potential for targeting, but only the top-down perspective should be considered.

Correct AnswerverifiedShow Answer

How do marketers estimate the size of a market? Explain.

Correct AnswerverifiedMarket sizing isn't difficult.Good demog...View AnswerShow Answer

If a market doesn't look so great, but a firm is awesome at creating products for it, the key question is whether the firm can

Correct AnswerverifiedShow Answer

Tyson wants to sell his services as a fitness and nutrition consultant.When he is estimating profitability, what factor does he need to consider that a business selling goods does not need to consider?

Marketers try to serve the segments whose needs match their __________, and in doing so hope to make very happy and loyal customers who will be very profitable.

Correct AnswerverifiedShow Answer

Threats are

Correct AnswerverifiedShow Answer

Opportunities and threats are usually driven by changes in one of the 5Cs.

Correct AnswerverifiedShow Answer

What is the method for trying to objectively assess one's own corporate strengths?

Correct AnswerverifiedShow Answer

Corporate strengths should be assessed relative to a firm's competitors in order to understand customers and their

Correct AnswerverifiedShow Answer

Two important strategic criteria for targeting segments include the firm's strengths and the attractiveness of the segment.

Correct AnswerverifiedShow Answer

SWOTs are useful in clarifying __________ marketing questions.

Correct AnswerverifiedShow Answer

In conducting a SWOT analysis, marketers are likely to collect some market research data on customers, such as perceptual maps and information about brands and products.

Correct AnswerverifiedShow Answer

Final probability estimates require information such as industry knowledge or data that may be obtained from

Correct AnswerverifiedShow Answer

If a market looks attractive, but a firm is not particularly skilled in the market, a key question is whether the firm can develop sufficient

Correct AnswerverifiedC

How do marketers choose segments to target?

Correct AnswerverifiedThere are two perspectives in assessing ...View AnswerShow Answer

Bob thinks that a new RV business in his area would not face much local competition.How does he size the market? Include formulas in your answer.

Correct AnswerverifiedBob needs to start with the total popula...View AnswerShow Answer

Some customer segments are high maintenance and not worth serving.

Correct AnswerverifiedShow Answer

Which calculation is the most accurate way to estimate the size of a market?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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True

Correct Answer
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Correct Answer
verified
Market sizing isn't difficult.Good demog...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified
C

Correct Answer
verified
There are two perspectives in assessing ...
View Answer

Correct Answer
verified
Bob needs to start with the total popula...
View Answer

Correct Answer
verified

Correct Answer
verified