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Exam 8: Segmenting and Targeting Markets

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Question 41

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Discuss the importance of market segmentation.

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Answers will vary.Market segmentation is...

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Question 42

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_____ is a common base of demographic segmentation.

A) Product benefit
B) Usage rate
C) Geography
D) Income

E) All of the above
F) B) and C)

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Question 43

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A marketer who tries to convince consumers that a particular brand is distinctive-and,therefore,they should demand it-is concerned with which positioning strategy?

Explain the steps involved in segmenting a market.

When developing a product positioning strategy,marketers need to consider how consumers view the distinctions between products and analyze whether those distinctions are real or perceived.

A concentrated strategy can be disastrous for a firm that is not successful in its narrowly defined target market.

Even with the advantages of CRM as a targeting tool,marketers will continue to use mass marketing,especially to create brand awareness or to remind consumers of a product.

Based on age segmentation of a target market,which group is at peak earning power but seeks to spend only on products that provide the best value for money?

_____ is market segmentation on the basis of personality,motives,lifestyles,and geodemographics.

One advantage of undifferentiated marketing is the potential for saving on production and marketing costs.

Wester Helix,a watch manufacturing company,is a brand mostly associated with men.Although they also manufacture products for women,these products are less popular.To increase the sale of these products,Wester Helix opens a sister company that caters solely to women.In this scenario,Wester Helix uses age segmentation.

According to family life cycle segmentation,middle-aged married couples with or without children:

It is possible to define every person and every organization in the world as a market segment because each is unique.

The world's best coffee beans come from Colombia.Therefore,the more Colombian beans in a blend of coffee,the better the blend; and no company purchases more Colombian beans than Kreemo Coffee.Which positioning strategy is the company demonstrating?

Trower Inc.has launched a new smartphone in two different versions.Both variants of the smartphone have a similar design but have different hardware specifications.The company uses this strategy to make this smartphone more universally affordable.In this scenario,Trower Inc.is most likely using __________________________.

Segmentation descriptors identify the specific segmentation variables to use in segmenting a market.

According to family life cycle segmentation,consumption patterns among people of the same age and gender differ because they are in different stages of the family life cycle.

Direct and personal marketing efforts will continue to grow to meet the needs of consumers who no longer have the time to spend shopping and making purchase decisions.Which tool helps marketers meet this demand of consumers?

When segmenting markets by age,Baby Boomers expect everything to be instantaneous because they have always lived in a world with Internet.

Titan Company manufactures watches for all age groups,gender,and income and also for all important family occasions.This company exemplifies ________________________.