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Exam 8: Segmenting and Targeting Markets

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Question 51

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Which of the following is an advantage of a multisegment targeting strategy?

A) It significantly reduces the risk of product cannibalization.
B) It provides economies of scale in manufacturing and marketing.
C) It does not require firms to tailor marketing mixes to the preferences of market segments.
D) It decreases the costs involved in product design,marketing research,and management.

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Question 52

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New technology that allows marketers to collect detailed information of customers offers marketers a more cost-effective way to reach customers and:

A) choose which segment or segments to target.
B) enables businesses to personalize their messages.
C) review general activity on the website.
D) position the product.

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Question 53

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In the context of customer relationship management (CRM) ,_____ offers marketers a more cost-effective way to reach customers and enables businesses to personalize their messages.

Why do marketers segment their markets and what are the basic criteria for doing so successfully?

When selecting strategies for targeting markets,which of the following is a disadvantage of an undifferentiated targeting strategy?

Rolls Royce cars target only the premium car market segment.This is a classic example of:

A firm which produces replicas of famous paintings of reputed and great artists has as its target customers: socialites,celebrities,and the hospitality industry.What type of market segmentation is used in this case?

A firm that adopts an undifferentiated targeting strategy assumes that:

Based on the target market(s),a marketer develops the product's positioning,a process that influences nonpotential customers' overall perception of a brand.

Nalpas Inc.,an apparel company,manufactures clothes for men,women,and children.It further divides its core customers according to demographic variables such as income,ethnic background,and family life cycle.These demographic variables are examples of _____.

The final step in market segmentation is selecting segmentation descriptors.

Single-variable segmentation has the advantage of being more precise than multiple-variable segmentation.

To position a product as being associated with a particular category of products is positioning by:

Wesley Electronics Inc.manufactures electronic gadgets.Its marketing team spent a great deal of money on advertising to create awareness about the company's products among potential customers and employs a variety of methods,such as print,broadcast,and online advertising.According to the steps involved in segmenting a market,Wesley Electronics most likely is:

Customers looking for luxury want products that exhibit careful craftsmanship,timeless design,prestige,and exclusivity.This type of market is segmented by ethnicity.

Volten Inc.is an apparel store.It has separate sections for casual wear,office wear,and party wear.It offers a broad selection of clothing across various price ranges to accommodate consumers at different income levels.In this way,Volten caters to different socioeconomic groups.Volten targets its market segments using _____ as its base for product positioning.

A cosmetic company manufactures products for skin and hair care for both men and women in the 20- to 50-year-old age group.Which type of market segmentation approach does the company undertake?

Generation Y grew up as latchkey kids,meaning that they spent time alone at home while their (often divorced)parents worked long into the night,and they were the best-educated generation.

Ethnic segmentation involves segmenting potential customers into neighborhood lifestyle categories.

Tennot Inc.sells used cars.It focuses solely on low-income customers who prefer to buy a used car rather than a new one.Therefore,it develops one marketing mix that targets a low-income demographic group.In this scenario,Tennot Inc.most likely uses a(n) _____.