Ch. 4 MC

The microsegmentation of business markets center on characteristics of:

decision making units (decision style)

Concerning segmentation criteria, _____ refers to the degree to which the segments are large or profitable enough to be worth considering for separate marketing cultivation

sustainability

When a business marketer decides to target only those firms with centralized buying centers, what macrolevel segmentation variable is being used

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Which forecasting technique uses historical data ordered in time to project the trend and growth rate of sales?

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The qualitative approach that most closely resembles the executive panel method of sales forecasting is

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Chandler Machine Tool has been successful in segmenting their market using the following bases: (1) NAICS category and (2) key purchasing criteria emphasized by particular groups of buyers within each NAICS industry. They are using:

a blend of macro and micro bases of segmentation.

The ideal approach to sales forecasting for the business marketer relies on:

a combination of qualitative and quantitative approaches.

Market segmentation is:

a useful tool for both business and consumer goods marketers.

In time series analysis, the _____ component represents regular, recurring movements within the year.

seasonal

Which of the following is not one of the criteria for assessing the desirability of a potential market segment?

Accountability

Successful implementation of a business segmentation strategy requires attention to which of the following issues?

All of the answer choices.

A successful implementation of a segmentation strategy requires attention to:

All of the answers above: - How sales force is organized - adaptations needed to serve international market - media outlets used to target new segment

Which of the following are true of qualitative approaches to sales forecasting?

Both effectiveness depends on close relationships between customers and suppliers and it brings users of the forecast into the forecasting process.

Which of the following are means by which a marketer can implement a microsegmentation strategy?

Both importance of the purchase and organizational innovativeness.

Which of the following statements concerning business market segmentation is(are) true?

Both the decision to enter a particular market segment carries with it significant long-term resource commitments for the industrial firm and in evaluating alternative bases for segmentation, the marketer is attempting to identify good predictors of differences in buyer behavior.

Which of the following statements concerning business market segmentation is(are) false?

Compared to their consumer goods counterparts, business marketers can more readily change segmentation strategies, shifting attention from one segment to another.

Advanced Technologies, Inc. faces a forecasting dilemma. They wish to evaluate the level of sales that a new technology might enjoy in 2018. Historical data is limited and of little value since the new product is not well defined and the product concept is unique. Which forecasting approach would appear to be most appropriate?

Delphi method

Qualitative techniques that can be used for forecasting sales include

Delphi method

Which of the following is NOT a personal characteristic used in microlevel segmentation?

Importance of Purchase

For the medical x-ray market, Du Pont initiated a formal positioning study among hospital administrators, radiology department administrators, and technical managers in order to identify the firm's relative standing and the specific needs (criteria) for each level of buying influence within each potential segment. This provides an illustration of segmentation on the basis of:

Key criteria

A _____ is a group of present or potential customers with some common characteristic which is relevant in explaining and predicting their response to a supplier's marketing stimuli.

Market segment

Concerning segmentation criteria, _____ refers to the degree to which information on the particular buyer characteristic exists or can be obtained.

Measurability

Business market segmentation at the _____ level requires a higher level of market knowledge and, therefore, a greater investment in research.

Micro

Bases of business or organizational market segmentation that focus on the characteristics of decision-making units are broadly classified as:

Microsegmentation

Which sales forecasting approach is effective when intimate knowledge of customer plans is important?

Sales force composite

Which is NOT a requirement in identifying a market segment?

Substitutionary

All of the following are potential micro bases of business market segmentation except:

Type of buying situation

The criteria marketers use to evaluate the degree to which the firm can effectively focus its marketing efforts on chosen segments is:

accessability

Which might be a type of customer that should be considered as a possible valuable segment?

all of the above: - undershot customers - nonconsuming customers - existing customers be exmined in a new light

The business market can be segmented on several bases. Macro bases of segmentation center on:

all of the answer choices.

The Delphi technique is particularly well suited to:

all of the answers - new product forecast - estimation of future events when history is limited - situations not suited as quantitative

Which of the following is a benefit of effective segmentation?

all of the answers:

Quantitative forecasting includes the primary methodology called:

all of the answers: -time series - casual - regression

_____ techniques have as their objective the determination of a relationship between sales and one or more variables presumed to be related to sales.

casual

The _____ component of a time series reflects intermediate-term, regularly recurring, upswings and downswings of data around the long-term general direction of the data.

cycle

The industrial chemical industry in England shows a fairly regular rise and fall in demand over four- or five-year periods. This provides an illustration of the _____ component of a time series.

cycle

Large buying organizations may possess unique requirements and respond to different marketing stimuli than small firms. Research suggests that the degree of influence of presidents, vice presidents, and owners _____ with an increase in corporate size.

decrease

Sales forecast data is used to:

distribute inventory. manage stock levels. directing the entire supply chain process.

Typically, causal models are more reliable for:

intermediate than for long-range forecasts.

The _____ component of a time series reflects short-term, random movements in the data that do not conform to a pattern which is regularly related to the calendar.

irregular

A segmentation study found that purchasers of IBM equipment are more concerned about software support and breadth of product line and they are less concerned about absolute price and price flexibility (i.e., willingness of suppliers to negotiate price). This provides an illustration of segmentation on the basis of:

key criteria

The business market can be segmented on several bases, broadly classified into two major categories:

macro and micro.

Park Rapids Electronics divides their market on the basis of NAICS category, end market served, and type of buying situation. They have also developed a special strategy for large centralized buyers. They are emphasizing:

macro bases of segmentations

The classification of customers on a continuum range from nonuser to heavy user is an example of:

macro level segmentation.

Bases of business or organizational market segmentation that center on the characteristics of the buying organization and the buying situation are broadly categorized as:

macrosegmentation.

The Thompson Spring Company has developed a separate marketing strategy for each of the industries that uses its products. These industries include makers of machine tools, bicycles, surgical devices, telephones, and missile systems. This provides an illustration of segmentation on the basis of:

product application

All of the following are potential macro bases of business market segmentation except:

purchasing strategy.

Albany Products found that the sales of one of their most important products is logically related to new construction expenditures. If the firm can forecast future values of this variable, which forecasting technique would appear to be most appropriate?

regression

Concerning segmentation criteria, _____ concerns the degree to which segments respond differently to different marketing mix elements, such as pricing or product features.

responsiveness

The sales forecasting approach that utilizes a panel of experts and converts their opinions into an informed consensus by means of highly structured, multi-stage pooling is:

the delphi method

Executive judgement methods produce accurate forecasts when:

the linkage between decision, action, and feedback is short.

The most crucial limitation(s) associated with causal methods of sales forecasting is(are):

the problem of determining future values of the independent or causal variables.

Company sales, reported on a monthly basis for the past four years, is an example of a:

time series

In time series analysis, the _____ component indicates the long-term general direction of the data.

trend

When a business marketer determines whether a buyer is employing a new task, modified rebuy or straight rebuy decision-making process, what macrolevel segmentation variable is being used?

type of buying situation

Lansing Motor Works produces a line of precision motors. Based on feedback from the sales force, management has learned that one of their new motors is especially well-suited to high-speed packaging systems. The new motor requires less maintenance and has a longer useful life than competing offerings. Lansing Motor Works is now concentrating on this segment. This provides an illustration of segmentation on the basis of:

value-in-use