Question 1

Niche marketing is best suited for firms that offer highly specialized goods and services.

Accepted Answer

A) True 
 B)False

Question 2

Marketers rarely encounter differences among members of a target group,as they segment potential consumers into homogeneous groups.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following statements is true of differentiated marketing?

Accepted Answer

A)   A company practicing differentiated marketing attempts to satisfy everyone in the market with one standard product.
B)   As compared o undifferentiated marketing, differentiated marketing leads to lower inventory and promotional cost.
C)   Differentiated marketing approach can appeal to a small company that lacks the financial resources of its competitors.
D)   Differentiated marketing helps a company to diversify and reach new customers.

Question 4

What is psychographic segmentation? What is the most common method for developing psychographic profiles of a population?

Accepted Answer

Psychographic segmentation is the practi...

Question 5

The Asian Americans are currently the largest ethnic minority group in the United States.

Accepted Answer

A) True 
 B)False

Question 6

The marketing strategy that targets potential customers based on specific occupation or lifestyle is called micromarketing.

Accepted Answer

A) True 
 B)False

Question 7

_____ is a psychographic segmentation system that divides consumers into eight psychographic categories based on resources and self-motivation.

Accepted Answer

A)  target market
B)  market segmentation
C)  cohort effect
D)  primary metropolitan statistical area
E)  differentiated marketingF) concentrated marketingG) micromarketingH) positioning mapI) VALSJ) AIO statementK) core regionL) consumer productM) demographic segmentationN) Praedo's lawO) psychographic segmentationP) geographic information systemsQ) positioningR) geographic segmentationS) business productT) mass marketing

Question 8

Which of the following products would be the best choice to be marketed using an undifferentiated marketing strategy?

Accepted Answer

A)   Luxury automobiles
B)   Healthy snack foods
C)   Table salt
D)   Imported wine

Question 9

Geographic segmentation is also called socioeconomic segmentation.

Accepted Answer

A) True 
 B)False

Question 10

_____ are computer systems that help marketers analyze marketing information by assembling,storing,manipulating,and displaying data by their location.

Accepted Answer

A)   Core based information systems
B)   Inertial navigation systems (INS) 
C)   Geographic information systems (GIS) 
D)   Advanced navigation assessment systems

Question 11

Generation X is very family-oriented,well educated,and optimistic.

Accepted Answer

A) True 
 B)False

Question 12

The market segmentation that is based on the stages of the family lifecycle is a form of demographic segmentation.

Accepted Answer

A) True 
 B)False

Question 13

Dividing an overall market into homogeneous groups based on gender and age would constitute demographic segmentation.

Accepted Answer

A) True 
 B)False

Question 14

Write a note on the VALS segmentation system.

Accepted Answer

VALS,an acronym for VAlues and LifeStyle...

Question 15

What is the use of psychographic segmentation to marketers?

Accepted Answer

Psychographic segmentation divides a pop...

Question 16

The Fayetteville-Springdale-Rogers region of Arkansas has approximately 340,000 people.Fayetteville is an urban center and it alone has a population of 60,000.The Fayetteville-Springdale-Rogers region would be classified as a:

Accepted Answer

A)   consolidated metropolitan statistical area (CMS
A)  .
B)   primary metropolitan region (PMR) .
C)   metropolitan statistical area (MS
A)  .
D)   micropolitan statistical area (µS
A)  .

Question 17

List out the different categories used by the U.S.government to classify urban data.Give examples.

Accepted Answer

The government classifies urban data usi...

Question 18

The revised VALS segmentation system categorizes consumers based on _____.

Accepted Answer

A)   religious affiliations
B)   political views
C)   self-motivation
D)   social values

Question 19

A consolidated metropolitan statistical area comprises of two or more primary metropolitan statistical areas.

Accepted Answer

A) True 
 B)False

Question 20

A firm that focuses its efforts on profitably satisfying a single market segment is opting for _____ strategy.

Accepted Answer

A)  target market
B)  market segmentation
C)  cohort effect
D)  primary metropolitan statistical area
E)  differentiated marketingF) concentrated marketingG) micromarketingH) positioning mapI) VALSJ) AIO statementK) core regionL) consumer productM) demographic segmentationN) Praedo's lawO) psychographic segmentationP) geographic information systemsQ) positioningR) geographic segmentationS) business productT) mass marketing

Exam 9: Market Segmentation, Targeting, and Positioning

What is the use of psychographic segmentation to marketers?

Correct AnswerverifiedPsychographic segmentation divides a pop...View AnswerShow Answer

The revised VALS segmentation system categorizes consumers based on _____.

Correct AnswerverifiedShow Answer

The market segmentation that is based on the stages of the family lifecycle is a form of demographic segmentation.

Correct AnswerverifiedShow Answer

Dividing an overall market into homogeneous groups based on gender and age would constitute demographic segmentation.

Correct AnswerverifiedShow Answer

The Fayetteville-Springdale-Rogers region of Arkansas has approximately 340,000 people.Fayetteville is an urban center and it alone has a population of 60,000.The Fayetteville-Springdale-Rogers region would be classified as a:

Correct AnswerverifiedShow Answer

Geographic segmentation is also called socioeconomic segmentation.

Correct AnswerverifiedShow Answer

_____ are computer systems that help marketers analyze marketing information by assembling,storing,manipulating,and displaying data by their location.

Correct AnswerverifiedShow Answer

A consolidated metropolitan statistical area comprises of two or more primary metropolitan statistical areas.

Correct AnswerverifiedShow Answer

Write a note on the VALS segmentation system.

Correct AnswerverifiedVALS,an acronym for VAlues and LifeStyle...View AnswerShow Answer

Generation X is very family-oriented,well educated,and optimistic.

Correct AnswerverifiedShow Answer

The Asian Americans are currently the largest ethnic minority group in the United States.

Correct AnswerverifiedShow Answer

_____ is a psychographic segmentation system that divides consumers into eight psychographic categories based on resources and self-motivation.

Correct AnswerverifiedShow Answer

Niche marketing is best suited for firms that offer highly specialized goods and services.

Correct AnswerverifiedShow Answer

List out the different categories used by the U.S.government to classify urban data.Give examples.

Correct AnswerverifiedThe government classifies urban data usi...View AnswerShow Answer

Which of the following statements is true of differentiated marketing?

Correct AnswerverifiedShow Answer

The marketing strategy that targets potential customers based on specific occupation or lifestyle is called micromarketing.

Correct AnswerverifiedShow Answer

Marketers rarely encounter differences among members of a target group,as they segment potential consumers into homogeneous groups.

Correct AnswerverifiedShow Answer

What is psychographic segmentation? What is the most common method for developing psychographic profiles of a population?

Correct AnswerverifiedPsychographic segmentation is the practi...View AnswerShow Answer

A firm that focuses its efforts on profitably satisfying a single market segment is opting for _____ strategy.

Correct AnswerverifiedShow Answer

Which of the following products would be the best choice to be marketed using an undifferentiated marketing strategy?

Correct AnswerverifiedShow Answer

Correct Answer
verified
Psychographic segmentation divides a pop...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
VALS,an acronym for VAlues and LifeStyle...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The government classifies urban data usi...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Psychographic segmentation is the practi...
View Answer

Correct Answer
verified

Correct Answer
verified