<p>Quiz Chapter 8- Group 7</p><p>1) The process of dividing a market into meaningful, relatively similar, identifiable segments or groups is </p><p> a. Market Segments</p><p> b. Responsiveness</p><p> c. Market Segmentation</p><p> d. Psychographics</p><p>2) What are the 3 strategies for selecting target markets?</p><p> a. Real strategy, Open strategy, and Marketing Strategy</p><p> b. Market strategy, Open strategy, and Poll strategy</p><p> c. Undifferentiated strategy, Concentrated strategy and Multisegment strategy</p><p> d. Age strategy, Religion strategy, and Gender strategy</p><p>3) One to one Marketing has a goal(s) of?</p><p> a. Cost Reduction</p><p> b. Customer Retention</p><p> c. Increased Revenue</p><p> d. Customer Loyalty</p><p> e. All of the Above</p><p>4) All of the following are bases of demographic segmentation except for:</p><p> a. Age</p><p> b. Gender</p><p> c. Income</p><p> d. Favorite food</p><p>5) What are the advantages of Internal Recruiting</p><p> a. It seems like a good idea</p><p> b. Employers know their employees, and employees know the organization. c. Organizations are scared of the outside world so they feel comfortable.</p><p> d. Its known to work better for employers to recruit from within.</p><p>6) What are the requirements for effective segmentation?</p><p> a. Measurable, Reachable, Sustainable, Mutual Exclusivity, Differential Response</p><p> b. Unmeasurable, Unreachable, Unsustainable, No Mutual Exclusivity, No Differential Response</p><p> c. Mass Marketing, Program Differentiated Marketing, Target Marketing, Niche Marketing, Micromarketing</p><p> d. Purple People Eaters</p><p>7) What is a Market Segment?</p><p> a. A subgroup of people or organizations sharing one or more characteristics that cause them to have similar market needs</p><p> b. The process of dividing the market into meaningful, relatively similar, identifiable segments or groups</p><p> c. People of organizations with needs or wants and the ability and willingness to buy</p><p> d. A sections of a market place that sells only a certain type of product </p><p>8) The demographic factors of age, gender, and ___ often do not sufficiently explain why consumer buying behavior varies.</p><p> a. Occupation</p><p> b. Education</p><p> c. Ethnicity</p><p> d. Income</p><p>9) Segmenting markets on the basis of personality, motives, lifestyles, and geodemographics is a description of:</p><p> a. Geodemographic segmentation</p><p> b. Psychographic segmentation</p><p> c. Benefits segmentation</p><p> d. Geographic segmentation 10) What is geographic segmentation based on?</p><p> a. Region or the country world</p><p> b. Market size</p><p> c. Market Density</p><p> d. Climate</p><p> e. All of the Above</p><p>11) All of the following are trends that will lead to the continuing growth of one-to-one marketing EXCEPT what?</p><p> a. Personalization</p><p> b. Loyalty</p><p> c. Technology</p><p> d. Diversification</p><p>12) Over what percentage of purchases of consumer goods do women make?</p><p> a. 50%</p><p> b. 30%</p><p> c. 70%</p><p> d. 80%</p><p>13) A group of people who share traits and have similar product needs is known as:</p><p> a. Population</p><p> b. Families</p><p> c. Market Segment</p><p> d. Market</p><p>14) ____ of markets is based on the region, market size, market density, or climate.</p><p> a. Geographic Segmentation</p><p> b. Age Segmentation</p><p> c. Income Segmentation d. Demographic Segmentation</p><p>15) What are the Market Coverage Strategies?</p><p> a. Unmeasureable, unreachable, unsustainable, no mutual exclusivity, no differential response</p><p> b. Mass marketing, program differentiated marketing, target marketing, niche marketing, micromarketing</p><p> c. Product, price, place, promotion</p><p> d. Any strategies that work</p><p>16) Cannibalizatoin is a potential disadvantage of what type of target marketing strategy?</p><p> a. Undifferentiated Targeting</p><p> b. Concentrating Targeting</p><p> c. Multisegment Targeting</p><p> d. One-to-one Marketing</p><p>17) Important segmentation variables:</p><p> a. Geographic location</p><p> b. Type of company</p><p> c. Company size</p><p> d. Product use</p><p> e. All of the Above</p><p>18) Customers who do extensive research before purchasing a product are known as?</p><p> a. Innovators</p><p> b. Enthusiasts</p><p> c. Optimizers</p><p> d. Collaborators</p><p>19) A Men’s clothing store or a Woman’s cosmetic shop would be segmented into what consumer market?</p><p> a. Benefits Sought b. Usage Rate</p><p> c. Demographics</p><p> d. Psychographics</p><p>20) What segments potential customers into neighborhood lifestyle categories?</p><p> a. Market Segments</p><p> b. Market Segmentation</p><p> c. Geodemographic Segmentation</p><p> d. Psychographics Answer Key:</p><p>1) A</p><p>2) C</p><p>3) E</p><p>4) D</p><p>5) B</p><p>6) A</p><p>7) A</p><p>8) D</p><p>9) B</p><p>10) E</p><p>11) D</p><p>12) C</p><p>13) C</p><p>14) A</p><p>15) B</p><p>16) C</p><p>17) E</p><p>18) C</p><p>19) C</p><p>20) C</p>