Quiz Chapter 8- Group 7

1) The process of dividing a market into meaningful, relatively similar, identifiable segments or groups is

a. Market Segments

b. Responsiveness

c. Market Segmentation

d. Psychographics

2) What are the 3 strategies for selecting target markets?

a. Real strategy, Open strategy, and Marketing Strategy

b. Market strategy, Open strategy, and Poll strategy

c. Undifferentiated strategy, Concentrated strategy and Multisegment strategy

d. Age strategy, Religion strategy, and Gender strategy

3) One to one Marketing has a goal(s) of?

a. Cost Reduction

b. Customer Retention

c. Increased Revenue

d. Customer Loyalty

e. All of the Above

4) All of the following are bases of demographic segmentation except for:

a. Age

b. Gender

c. Income

d. Favorite food

5) What are the advantages of Internal Recruiting

a. It seems like a good idea

b. Employers know their employees, and employees know the organization. c. Organizations are scared of the outside world so they feel comfortable.

d. Its known to work better for employers to recruit from within.

6) What are the requirements for effective segmentation?

a. Measurable, Reachable, Sustainable, Mutual Exclusivity, Differential Response

b. Unmeasurable, Unreachable, Unsustainable, No Mutual Exclusivity, No Differential Response

c. Mass Marketing, Program Differentiated Marketing, Target Marketing, Niche Marketing, Micromarketing

d. Purple People Eaters

7) What is a Market Segment?

a. A subgroup of people or organizations sharing one or more characteristics that cause them to have similar market needs

b. The process of dividing the market into meaningful, relatively similar, identifiable segments or groups

c. People of organizations with needs or wants and the ability and willingness to buy

d. A sections of a market place that sells only a certain type of product

8) The demographic factors of age, gender, and ___ often do not sufficiently explain why consumer buying behavior varies.

a. Occupation

b. Education

c. Ethnicity

d. Income

9) Segmenting markets on the basis of personality, motives, lifestyles, and geodemographics is a description of:

a. Geodemographic segmentation

b. Psychographic segmentation

c. Benefits segmentation

d. Geographic segmentation 10) What is geographic segmentation based on?

a. Region or the country world

b. Market size

c. Market Density

d. Climate

e. All of the Above

11) All of the following are trends that will lead to the continuing growth of one-to-one marketing EXCEPT what?

a. Personalization

b. Loyalty

c. Technology

d. Diversification

12) Over what percentage of purchases of consumer goods do women make?

a. 50%

b. 30%

c. 70%

d. 80%

13) A group of people who share traits and have similar product needs is known as:

a. Population

b. Families

c. Market Segment

d. Market

14) ____ of markets is based on the region, market size, market density, or climate.

a. Geographic Segmentation

b. Age Segmentation

c. Income Segmentation d. Demographic Segmentation

15) What are the Market Coverage Strategies?

a. Unmeasureable, unreachable, unsustainable, no mutual exclusivity, no differential response

b. Mass marketing, program differentiated marketing, target marketing, niche marketing, micromarketing

c. Product, price, place, promotion

d. Any strategies that work

16) Cannibalizatoin is a potential disadvantage of what type of target marketing strategy?

a. Undifferentiated Targeting

b. Concentrating Targeting

c. Multisegment Targeting

d. One-to-one Marketing

17) Important segmentation variables:

a. Geographic location

b. Type of company

c. Company size

d. Product use

e. All of the Above

18) Customers who do extensive research before purchasing a product are known as?

a. Innovators

b. Enthusiasts

c. Optimizers

d. Collaborators

19) A Men’s clothing store or a Woman’s cosmetic shop would be segmented into what consumer market?

a. Benefits Sought b. Usage Rate

c. Demographics

d. Psychographics

20) What segments potential customers into neighborhood lifestyle categories?

a. Market Segments

b. Market Segmentation

c. Geodemographic Segmentation

d. Psychographics Answer Key: