ch7 quiz marketing

What is the 80/20 rule? Multiple Choice 80 percent of a firm's products are marketed to only 20 percent of the population. 20 percent of the total demand for products comes from 80 percent of the target market. 80 percent of a firm's profits is generated from 20 percent of its product line. 20 percent of a firm's products are never marketed to 80 percent of consumers. 20 percent of heavy users account for 80 percent of the total demand.

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

Compare the following marketing tactics and select the company whose tactic raises an ethical concern. Multiple Choice Home Depot giving discounts to military personnel JCPenney targeting big and tall men with a specific clothing line Anheuser-Busch targeting its beer product line to sporting fans WhatsApp targeting older Americans as a way to connect with their grandchildren Juicy Couture targeting tweens with sexualized clothing

Juicy Couture targeting tweens with sexualized clothing

Mobile, Alabama, is a free-standing area with a population of about 200,000. According to the U.S. Census Bureau, this is a(n) Multiple Choice major city. urban numerical area. Metropolitan Statistical Area. Urban Statistical Area. Incorrect Metropolitan District.

MPA

A retail chain is emailing only customers who have purchased from it three years in a row a "thank you for your business" coupon for 30% off. This promotional campaign is an example of _____Blank segmentation. Multiple Choice financial geographic psychographic behavioral demographic

behavioral

An advantage to using a perceptual map is that it Multiple Choice shows the firms strengths, weaknesses, opportunities and threats. shows which products of a firm are most profitable. shows how other companies are marketing their products. it is the quickest way to determine market segments. can highlight potential market positions that might be underserved.

can highlight potential market positions that might be underserved.

A firm marketing its product in the United States and abroad may have to tweak the product for its international customers and as such may have to market it differently. What type of targeting strategy would work best for this situation? Multiple Choice niche concentrated geographic differentiated undifferentiated

differentiated

What step in deciding how to position a product should be done on a continual basis since consumer tastes change for almost every product? Multiple Choice evaluate feedback analyze competitors' positions review the perceptual map define the product's competitive advantage undergo market segmentation

evaluate feedback Correct

Segmentation based on location in nations, states, regions, and neighborhoods is referred to as _____Blank segmentation. Multiple Choice regional proximity demographic geographic residential

geographic

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? Multiple Choice Texas Florida Arizona Louisiana South Carolina

louisiana

Which market segment criterion refers to the fact that segments must be large enough for the firm to make a profit by serving them? Multiple Choice accessible substantial actionable differentiable measurable

substantial

After Chaim opened up his new sports bar/restaurant, he determined that students from the nearby college campus will provide him with the best opportunity to maximize sales, so he is concentrating his marketing efforts on this group, which will be his Multiple Choice marketing segment. target market. primary market. target sector. primary segment.

target market

When a company evaluates each market segment to determine which segment or segments present the most attractive opportunity to maximize sales, it is engaged in Multiple Choice targeting. situation analysis. segmenting. positioning. repositioning.

targeting

When marketers segment based on psychographics, the market is divided into groups according to Multiple Choice how convenient the product is for the consumer. the reason the consumer made the purchase. family size and marital status. how consumers act toward products. a consumer's income and interest in the product.

the reason the customer made the purchase

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? Multiple Choice a concentrated marketing strategy a differentiated targeting strategy an undifferentiated targeting strategy a niche marketing strategy a geographic targeting strategy

undifferentiated targeting strategy

Firms typically segment international markets using three general bases: global, regional, and Multiple Choice unique. cultural. national. Incorrect political. economic.

unique

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 Multiple Choice repositioning. mass marketing. limited marketing. market segmentation. market fragmentation.

market segmentation

The activities a firm undertakes to create a certain perception of its product in the eyes of the target market is referred to as Multiple Choice conceptualizing. categorizing. targeting. positioning. segmenting.

positioning

Psychographic segmentation refers to the science of segmenting markets based on Multiple Choice consumers' income, age and behavior. consumers' opinions, interests and attitudes. Incorrect behavior and demographics. psychology, demographics and personality traits. psychology and geography.

psychology, demographics and personality traits.

Which statement is most accurate regarding the use of social media in market segmentation? Multiple Choice As of yet, social media has not been proven to be an effective tool for segmenting markets. As compared to traditional segmenting techniques, it is easier to know exactly how to engage consumers on social networking sites. By segmenting the market by those who are active on social media, companies can connect with a larger and more diverse consumer base. Social media is most helpful in reaching out to older Americans and senior citizens. Social media is not very helpful in segmenting markets, but it can be a useful tool for marketers once the market has already been segmented.

By segmenting the market by those who are active on social media, companies can connect with a larger and more diverse consumer base.

A U.S. home construction company wants to build homes just over the Canadian border for U.S. citizens, but Canada is banning most foreigners from buying homes in Canada for two years. Which market segment criterion is having the most impact on the company's plans? Multiple Choice differentiable measurable available substantial accessible

accessible