MKT 101 Ch 7 Quiz

What is the 80/20 rule?

20 percent of heavy users account for 80 percent of the total demand.

According to your text, what tool provides an excellent framework to determine if a firm will be successful targeting a specific segment?

a SWOT analysis

What are the two most commonly used demographic variables used by marketers?

age and gender

What type of targeting strategy works with uniform products for which the firm can develop a single marketing mix that satisfies the needs of all customers?

an undifferentiated targeting strategy

Undifferentiated targeting is a strategy that

approaches the marketplace as one large segment.

An advantage to using a perceptual map is that it

can highlight potential market positions that might be underserved.

A marketing manager is using demographics to segment markets for his products. This means he is dividing markets by

characteristics such as age, gender, and income.

The second step in deciding how best to position a product is to

clearly define the firm's competitive advantage.

Which of the following is not one of the broad segmentation bases outlined in your text that can be used to segment a market?

demand

An auto insurance company segmented its market by both gender and age and designed different marketing campaigns to appeal to both. In the end, both segments responded the same to the different marketing strategies, in part, because both segments are required to have auto insurance. This firm failed to understand the criteria of market segments needing to be

differentiable

Which factor is a demographic segmentation variable?

gender

Which is a description of a behavioral segmentation variable?

how often a product is used by the target market

According to the VALS framework, why different consumer groups exhibit different behaviors or why different consumer groups exhibit the same behaviors for different reasons is based on

motivation and resources.

Which statement best characterizes international market segmentation?

It is a challenging process to complete.

Compare the following marketing tactics and select the company whose tactic raises an ethical concern.

Juicy Couture targeting tweens with sexualized clothing

According to the 2010 U.S. Census, which is the only Southern state that lost seats in the House of Representatives due to population shifts out of the state?

Louisiana

Brianna has always wanted to open a hair salon. While Brianna has experience in cutting and styling hair, she always gets amazing reviews for her specialty hair coloring abilities. So, rather than open a hair salon that offers a wide variety of cuts and styles, Brianna has decided to open a specialty hair salon solely devoted to the needs of individuals who regularly color their hair. This is an example of

Market Segmentation

What factor of the targeting process is at work when a marketer ensures that the target market is appropriate for what the organization is and wants to be as defined in its mission statement?

strategic fit

Which market segment criterion refers to the fact that segments must be large enough for the firm to make a profit by serving them?

substantial

As a marketing activity, positioning assumes that consumers

will compare goods and services on the basis of benefits.