Exam 2- Chapter 6
A marketing manager can utilize executive judgment as a sales forecasting method. It is most appropriate to utilize when A. product demand is stable and the marketing manager has years of market-related experience. B. the marketing manager has limited experience. C. recent sales have experienced a decline. D. product demand is erratic.
A. product demand is stable and the marketing manager has years of market-related experience.
The _____ method to measure a company's sales potential begins by estimating how much of a product a potential buyer in a specific geographic area will purchase in a given period. A. buildup B. gradual C. multiplier D. breakdown
A. buildup
Companies may utilize _____________ to develop sales forecasts where experts outside the firm such as economists, management consultants, advertising executives, or college professors are hired to prepare and present forecasts or answer specific questions for the firm. A. expert forecasting surveys B. trend analysis C. external judgment D. Delphi techniques
A. expert forecasting surveys
Starbucks has in-store coffee outlets in Target stores throughout the United States and Canada and also offers its extensive line of Via instant coffee and various flavors of the bottled Frappuccino beverage. Prior to the partnership and roll-out of product throughout the Target system, a _______ was conducted where several "test" stores carried the products for a limited time and Target and Starbucks could measure the actual sales to gauge the strength of the brand and opportunity for success. A. market test B. sales forecast C. company sales prediction D. market analysis
A. market test
Tim has just opened a CherryBerry self-serve yogurt bar in his Midwest community of 250,000 people. He's identified several market segments: families with young children, teens and young adults, active adults, and active seniors and has utilized the breakdown approach to assess the market potential or his locations' sales potential. He has also assessed the competition since the market already supports one OrangeLeaf yogurt shop and several ice cream locations such as Culver's and Baskin Robbins. In addition, Tim has developed cost estimates to develop and maintain a marketing mix that meets the wants and needs of the various segments. Now, Tim is ready to A. select specific target markets B. determine which segmentation variable to use C. evaluate the market segments D. develop segment profiles
A. select specific target markets
Aon Insurance Company is an insurance brokerage company that caters to business markets and serves as the expert and consultant to risk managers or business owners to determine their risk profile and insurance needs. Once Aon account executives have determined a customer's needs for insurance, they contact insurance carriers to obtain a quote and then work with the customer to identify the best carrier for their company. Typically, Aon account managers are divided into teams based on the industry such as health care, education, government, or manufacturing. Aon is utilizing the ______ variable for segmenting business markets. A. type of organization B. geographic location C. product use D. customer size
A. type of organization
__________ is defined as the total amount of a product that consumers will purchase within a specified period at a specific level of industry-wide marketing activity. A. Forecasted sales B. Company sales potential C. Market potential D. Sales volume
B. Company sales potential
Axe has been a successful marketer of men's body spray, deodorant, and antiperspirants and is a division of Unilever. Axe supports a variety of fragrances and releases new products which are supported by marketing efforts including racy advertising spots and a company-owned YouTube channel. Unilever utilizes a complex type of expert forecasting called the ________ where experts create initial forecasts, submit them to the company for averaging, and have the results returned to them so they can make individual refined forecasts. The procedure is iterative and may be repeated several times until the experts who are working independently reach a consensus. The process typically results in a very reliable sales forecast. A. executive judgment B. Delphi technique C. expert forecasting survey D. trend analysis
B. Delphi technique
Biaggi's Restaurant is an upscale Italian restaurant that operates company-owned and franchise locations. Biaggi's has noticed that they have several market segments for both lunch and dinner dining and has developed a detailed description of the various customer segments. These detailed descriptions include information such as demographic characteristics—age, income and education level as well as an individual's preferences regarding how frequently they dine out and the percent of time they select Biaggi's as a restaurant. What step in the target market selection process has Biaggi's completed by describing their target market customers? A. Step 5: Select Specific Target Markets B. Step 3: Devlop Market Segment Profiles C. Step 4: Evaluate Relevant Market Segments D. Step 2: Determine Which Segmentation Variables to Use
B. Step 3: Develop Market Segment Profiles
A company can utilize two different methods to determine its company sales potential. The _____ method begins with the marketing manager first developing a general economic forecast for a specific time period. A. buildup B. breakdown C. industry D. competitive
B. breakdown
Martin Engineering sells conveyer belt systems and cleaning tools such as scrapers that are utilized in mining operations such as coal and mineral mining. He contacts one of his largest customers, Peabody Coal to discuss the company's needs for cleaning tools, conveyer belts, and scrapers for the next fiscal year. Martin Engineering next utilizes this information as a multiplier to calculate the amount of products that potential buyers might purchase in the next year. Martin Engineering is using a ______ approach to measure sales potential. A. regression B. buildup C. multiplier D. breakdown
B. buildup
Forever 21, the clothing and fashion retailer targets females aged 11 to 18 who are interested in the latest fashion and styles at affordable prices. It uses the same marketing mix to reach this target market and incorporates a(n) __________ strategy. A. differentiated B. concentrated C. undifferentiated D. heterogeneous
B. concentrated
Frito Lay's Doritos snacks appeal to a wide range of consumers for consumption in their homes, and now through a partnership with Taco Bell, Doritos brand shells under the name "Locos Tacos" are available in Taco Bell. What type of segmentation strategy is Frito Lay utilizing with the Doritos and Locos Tacos products? A. clustered B. undifferentiated C. differentiated D. concentrated
B. differentiated
When marketing managers utilize the ________ method of developing sales forecasts, intuition is heavily influenced by recent experience such that a manager may weight recent sales booms or slumps higher and result in a less accurate forecast. A. customer forecasting survey B. executive judgment C. time series D. cycle analysis
B. executive judgment
The _______ is defined as the amount of product a company expects to sell during a specific period at a specified level of marketing activities. A. competitive sales estimate B. sales forecast C. market potential D. company sales potential
B. sales forecast
Carmen Santiago is a brand manager for Snap-On Tools Company and is developing a sales forecast for socket wrenches. Carmen has 10 years of sales data related to socket wrenches and notices that sales of wrenches are relatively stable with little seasonality. However, Carmen notices that sales are strongest or highest in May and June and hypothesizes the small businesses that purchase Snap-On Tools wrenches may be utilizing their income tax refunds to make equipment purchases. Carmen is most likely utilizing the _________ sales forecasting technique. A. customer forecasting survey B. time series analysis C. regression analysis D. executive judgment
B. time series analysis
A(n) ________________ segmentation or targeting strategy is recommended when the needs of individual consumers in a target market for a specific product are similar and a company can satisfy most consumers with one marketing mix. A. cluster B. differentiated C. undifferentiated D. concentrated
B. undifferentiated
_____________ is defined as the maximum percentage of market potential that an individual firm within an industry can expect to obtain for a specific product. A. Market share goal B. Company sales objective C. Company sales potential D. Market potential
C. Company sales potential
Which product would most likely use age as a segmentation base when targeting customers? A. Tropicana orange juice B. Frito Lay chips C. Fixodent Denture Cream D. Coca Cola soda
C. Fixodent Denture Cream
___________ markets are composed of individuals or organizations with diverse needs for products in a specific product class. A. Differentiated B. Concentrated C. Heterogeneous D. Homogeneous
C. Heterogeneous
_______ segmentation groups individuals according to how they spend their time, the importance of things in their surroundings, beliefs about themselves and broad issues, as well as some demographic characteristics. A. Microsegmentation B. Behavioristic C. Lifestyle D. Pyscho-demographic
C. Lifestyle
_________ by Nielsen, is commonly used by marketers to segment by demographic variables and combines demographics, consumer behavior, and geographic data to help marketers identify, understand, and reach their customers and prospects. A. GEOSEG B. GEOVAR C. PRIZM D. LIFO
C. PRIZM
______ variables are the characteristics of individuals, groups, or organizations used to divide a market into segments. A. Stratification B. Demographic C. Segmentation D. Cluster
C. Segmentation
Jessica Bond is a product manager for Crest toothpaste and is working to craft a description of customers who would most likely fit the intended target market for Crest with Whitening toothpaste. Jessica is including demographic characteristics, geographic factors, product benefits sought, lifestyles, and brand preferences in the description. Jessica is completing A. a market trend analysis B. a sales forecast C. a market segment profile D. a competitive analysis
C. a market segment profile
Which product would most likely use an undifferentiated market segmentation approach to marketing? A. bicycle B. clothing C. beef D. computer
C. beef
Target has been very innovative in creating partnerships with well-known brands to provide high quality but lower-priced products of items that are typically sold in department stores such as Macy's. For example, Target offers its Calphalon Kitchen brand of cookware at $120 for a set while a similar set of Calphalon Contemporary cookware sells at Macy's for $300. Target is appealing to customers who value the brand name of Calphalon and are sensitive to price. In this example, Target is utilizing _____ variables for market segmentation. A. demographic B. geographic C. behavioristic D. psychographic
C. behavioristic
Verizon Wireless uses a segmentation strategy for its mobile phone and data packages based on market characteristics such as number of devices, amount of download capacity, and volume of minutes or text messages. Based on these variables, Verizon Wireless is using _______ variables for segmentation. A. psychographic B. demographic C. behavioristic D. geographic
C. behavioristic
AMC Theaters that operate movie and entertainment locations across the United States may choose to segment its market based upon the frequency of visits to the cinema. For example, they might classify moviegoers into three groups including fanatical fans, moderate fans, or selective fans reflecting the frequency or number of movies an individual might see within a month. This is an example of market segmentation based on A. motives B. lifestyle C. behavioristic variables D. geographic variables
C. behavioristic variables
Colgate manufactures and markets several varieties of toothpaste such as Colgate Optic White Whiten & Protect, Colgate Sensitive and Teenage Mutant Ninja Turtles—Mild Bubble Fruit Toothpaste to name a few. These products are designed to appeal to different markets with specific marketing mixes for each segment. Colgate is using a(n) __________ targeting strategy. A. undifferentiated B. concentrated C. differentiated D. comprehensive
C. differentiated
Billabong was founded in Australia by surfer and surfboard shaper Gordon Merchant in the 1970s. Today, the brand has a strong presence and is known as a lifestyle brand for board-sports including skate, snow, and wake. Billabong has company-owned specialty stores located throughout the United States and plans to open additional outlets in the future. Billabong also markets their clothing and equipment through their website and catalog. Billabong would most likely use _______ variables as a segmentation base for its online and catalog sales but would benefit most from ______ segmentation to determine the locations for future company-owned stores. A. geographic; behavioristic B. geographic; demographic C. behavioristic; geographic D. demographic; geographic
C. behavioristic; geographic
Tide laundry detergent offers a variety of different versions such as Tide HE Liquid, Tide Liquid with Downy fabric softener, Tide Plus Sport, and Tide with Bleach. The different variations of the product offer consumers the opportunity to fulfill a need based upon their particular circumstances and what they desire in terms of how a detergent might clean their clothes. Tide is using _____ segmentation. A. differentiation B. micro C. benefit D. lifestyle
C. benefit
Marketers segment _____ markets according to geographic location, type of organization, customer size, and product use. A. international B. consumer C. business D. government
C. business
Beats by Dr. Dre (Beats), is a leading audio brand founded in 2006 by Dr. Dre and Jimmy Iovine and was acquired by Apple Inc. in 2014. Beats has become a favorite brand among consumers who enjoy listening to music and somewhat of a status brand. The company markets a variety of products including headphones, earphones, speakers, and accessories. Beats works with companies such as Target, Best Buy, Amazon, and Game Stop who represent the company's __________ market, and also supports efforts to engage with individuals who will ultimately purchase the Beats products for their own use while listening to music or other audio files. The individuals who purchase Beats for their own personal use represent the company's _____ market. A. reseller; derived B. primary; reseller C. business; consumer D. primary; secondary
C. business; consumer
A basic requirement of a market is that the consumer possesses the ability to purchase the product or service. This requirement is a function of a consumer's A. ability to purchase B. willingness to buy C. buying power D. desire to won the product or receive the service
C. buying power
The Buckle, based in Kearney, Nebraska, operates approximately 500 stores across the United States and is known for its denim which they design to fit a wide variety of body shapes and preferences for style for men and women. The Buckle has forecasted that it can sell 15% of all jeans or denim sold in the United States. This percentage represents The Buckle's _________ for denim. A. sales goal B. sales objective C. company sales potential D. market potential
C. company sales potential
All of the following are one of the major categories of market segmentation variables except A. psychographic B. behavioristic C. competitive D. demographic
C. competitive
A(n) ______________ targeting strategy is one in which an organization targets a single market segment using one marketing mix. A. selective B. undifferentiated C. concentrated D. differentiated
C. concentrated
The company Patek Phillippe is known for its high-quality, Swiss-made watches priced at $20,000 and above and targeted to a very upscale target market that could afford to pay $20,000 or more for a watch. The advertising for Patek Phillippe's watches says "You never actually own a Patek Phillippe, you merely look after it for the next generation." What type of targeting strategy does Patek Phillippe use? A. undifferentiated B. differentiated C. concentrated D. exclusive
C. concentrated
Greenview Landscaping provides full-service landscaping services for new construction and established homes. Greenview typically caters to individuals who are married, two-income earners in the family, with annual incomes over $200,000. Greenview Landscaping is using _________ variables to segment its market. A. behavioristic B. geographic C. demographic D. psychographic
C. demographic
Rainbow Outdoor is a family-owned business that sells play systems, basketball goals, and trampolines. They also install fence systems and tennis courts. Rainbow Outdoor has had the most success targeting families with children under the age of 15 and incomes of $100,000 or more. Rainbow Outdoor is using _________ variables to segment its market. A. behavioristic B. geographic C. demographic D. psychographic
C. demographic
Secret utilized the tagline, "Strong enough for a man but made for a woman" in the early 1970s and the message is still strongly associated with the product and its line of deodorants and antiperspirants. What type of segmentation variable is Secret utilizing for its deodorant products? A. geographic B. behavioristic C. demographic D. pyschographic
C. demographic
A marketer that is using segmentation to reach a consumer market can select one or several variables. Which of the following correctly specifies the four major categories of segmentation variables? A. attitudes, income, behavioristic, and geographic B. demographic, attitudes, lifestyles, and geographic C. demographic, behavioristic, psychographic, and geographic D. geopolitical, lifestyles, behaviors, and gender
C. demographic, behavioristic, psychographic, and geographic
PRIZM by Nielsen, is commonly used by marketers to segment by _____ variables and can also be used to segment by __________. A. behavioristic; lifestyles B. behavioristic; geography C. demographic; lifestyles D. demographic; geography
C. demographic; lifestyles
According to the text, the second step in the target market selection process is to A. select specific target markets B. evaluate relevant market segments C. determine which segmentation variables to use D. develop market segment plans
C. determine which segmentation variables to use
The target market selection process includes five steps that should be followed sequentially. Once an organization has identified the appropriate targeting strategy and determined which segmentation variables to utilize, they would next A. differentiate target markets from competitor markets B. select specific target markets C. develop market segment profiles D. evaluate relevant market segments
C. develop market segment profiles
Lenovo has a variety of computer models to serve distinct consumer needs. A small tablet computer is targeted to young children, a sleek but powerful laptop is targeted to business people who frequently travel, and larger desktop models are targeted to businesses that purchase the computers for workers who use their computers at their desk in the office. What approach to market segmentation is Lenovo utilizing? A. cluster B. undifferentiated C. differentiated D. concentrated
C. differentiated
The Cannon Mills Company markets towels and linens using the brand name, Fieldcrest. Fieldcrest is sold at a variety of retail outlets including Macy's, Target, and Bed, Bath, and Beyond. The Cannon Mills Company offers a variety of models of Fieldcrest products to appeal to customers who are interested in owning the "best" products, those that are "good" and those that are in between. For example, at Macy's the Fieldcrest Luxury bath towels sell for $15, Bed, Bath, and Beyond sells the Fieldcrest Resort towels for $12 each, and Target sells the Fieldcrest Home towels for $8 each. Cannon Mills Company is most likely using a(n) ________________ targeting strategy. A. cluster B. undifferentiated C. differentiated D. concentrated
C. differentiated
Which of the following is an advantage of using a concentrated targeting strategy? A. firms can reduce their expenditures on marketing research activities B. firms can utilize their production capacity very efficiently C. firms can develop a special marketing mix for a single market segment D. firms have high degrees of flexibility in reaching multiple market segments
C. firms can develop a specific marketing mix for a single market segment
The population of a city or county and what type of climate the area experiences are examples of ____________ variables used for market segmentation. A. behavioristic B. demographic C. geographic D. psychographic
C. geographic
The target market selection process is a five-step process and the first step is to A. develop market segment profiles B. evaluate relevant market segments C. identify the appropriate targeting strategy D. select specific target markets
C. identify the appropriate targeting strategy
Firms can divide a market according to consumer behavior toward a product which commonly involves an aspect of product use. Which of the following is an example of a behavioristic variable relating to product use? A. lifestyle B. gender C. loyalty to a brand D. size of a city
C. loyalty to a brand
A consumer's stage in the family life cycle is often utilized as a segmentation variable for target marketing. Two variables are associated with family life cycle and affect consumers' needs for housing, appliances, food, automobiles, and recreational equipment. These two variables are A. gender and children living at home B. occupation and income C. marital status and age of children living at home D. income and marital status
C. marital status and age of children living at home
A group of individuals or organizations that have a desire or need for products in a product class and have the ability, willingness, and authority to purchase those products are known as a A. differentiated market B. competitor class C. market D. segmented group
C. market
A geographic variable that is often used for market segmentation refers to the number of potential customers within a unit of land area such as a square mile. This segmentation variable is called A. population B. micromarketing C. market density D. competitor density
C. market density
Duracell Battery has determined that the total number of batteries sold to consumers in the next year by all battery producers is 5 billion units based on estimates of manufacturers and global expansion of firms. This amount represents the industry's A. company sales potential. B. sales forecast. C. market potential. D. sales potential
C. market potential.
The marketing manager for Pillsbury is attempting to determine a sales estimate for the line of products such as cinnamon rolls, pie crusts, and crescent rolls that are available in the refrigerated section of the grocery store and can be baked in the consumer's home for bakery-fresh taste and quality. The marketing manager estimates the ___________ to be $20 million annually for the category of refrigerated or frozen bakery items, while Pillsbury's _____________ is 25% of the overall market. A. demand; supply B. industry share; company forecast C. market potential; company sales potential D. market share; category sales
C. market potential; company sales potential
Personal appearance, affiliation, status, safety, and health are examples of __________ affecting the types of products purchased and the choice of stores in which they are bought. They reflect the reasons consumers use when making a purchase. A. benefits B. personality C. motives D. lifestyle
C. motives
Market segment ________ help marketers understand how a business can use its capabilities to serve potential customer groups and describes the similarities among potential customers within a segment as well as explains the differences among people and organizations in different segments. A. concentrations B. diagrams C. profiles D. categories
C. profiles
Sherwin Williams Company utilizes a sophisticated and mathematical approach to forecasting sales. They first utilize historical sales data incorporating a 10-year history of sales for each product category such as different brands of paint and supplies—brushes, ladders, tarps, and so on. Their sales forecasting manager uses Excel to perform _______________ where sales is the dependent variable and a variety of other factors such as company size, annual purchases, and number of years as a customer are the independent variables. The sales forecasting manager is then able to identify the relationship between the independent variables and the dependent variables to determine an accurate sales forecast. A. sales force forecasting survey b. statistical demand analysis C. regression analysis D. time series analysis
C. regression analysis
Ethnicity, city size, benefit expectations, brand loyalty, and personality attributes are all examples of common _________ variables used to divide a market into segments. A. polarizing B. targeting C. segmentation D. psychographic
C. segmentation
The final step in the target market selection process is to select specific target markets. When making decisions about which segments to select, a marketing manager should A. choose only those segments that are less costly to reach B. revert to an undifferentiated approach if the segments are heterogeneous C. select segments which provide significant opportunities to achieve additional objectives D. select all segments
C. select segments which provide significant opportunities to achieve organizational objectives
L'Oreal markets several different product brands targeting specific groups of women for cosmetic and beauty aid purchases. The brand managers for each line of product have completed competitive assessments and cost estimates and are now ready to A. develop sales forecasts and quantity to manufacture B. identify the budget necessary to support each segment C. select specific target markets D. determine the profiles of each segment
C. select specific target markets
All of the following are characteristics or requirements of a market except A. the authority to purchase the product or service B. the willingness to purchase the product or service C. the desire to make a profit on the product or service D. the ability to purchase the product or service
C. the desire to make a profit on the product or service
All of the following are true about business markets except A. the purchase may be made to use in production of another product B. they can be known as organizational markets C. the purchase is made by household members who intend to consume the product D. the purchase may be made to resell the item
C. the purchase is made by household members who intend to consume the product
Which of the following is true about consumer markets? A. commonly referred to as B2B markets B. individuals, organizations, or groups who purchase products for use in manufacturing other goods C. the purchaser is not buying to make a profit D. individuals, organizations, or groups who purchase products for resale
C. the purchaser is not buying to make a profit
In general, an individual who is under 16 years of age and does not work full-time would not be considered part of the target market for photocopier machines because A. they would be too young B. they would not know how to use the product C. They would not have the ability to purchase the product D. they would not be willing to purchase the product
C. they would not have the ability to purchase the product
Marketing managers may also utilize __________ to develop sales forecasts which uses the firm's historical sales data to discover a pattern or patterns in sales over time. This method assumes that past sales patterns will continue into the future. A. regression analysis B. seasonal prediction analysis C. time series analysis D. Delphi technique
C. time series analysis
Canon Business Systems specializes in office automation services, photocopiers, and printers and employs a large number of sales representatives to market its products. Typically, sales representatives are provided with a territory and become specialists according to the type of customer most appropriate to them. Canon divides its market into categories including professional services (accountants, lawyers, and consultants), health care (hospitals, physician offices, and dentists), K-12 education, higher education, corporate, and governmental. Canon is utilizing _____ segmentation for its business markets. A. product use B. customer size C. type of organization D. geographic location
C. type of organization
A(n) ________________ strategy is defined as one in which an organization designs a single marketing mix and directs it at the entire market for a particular product. A. differentiated B. concentrated C. undifferentiated D. single mix
C. undifferentiated
French's brand, makers of the famous yellow-packaged mustard view all mustard consumers as very similar and utilizes only one marketing mix. French's brand uses a(n) ______________ targeting strategy. A. product-use B. differentiated C. undifferentiated D. concentrated
C. undifferentiated
The National Park Board encourages consumers to buy pork through its advertising messages and theme, Pork-Be Inspired. The National Park Board is utilizing a(n) _______________ targeting strategy. A. differentiated B. concentrated C. undifferentiated D. cluster
C. undifferentiated
The first step in the marketing segmentation process is to select the appropriate targeting strategy. Which of the following are the three strategies for market segmentation? A. total market, competitive, and demographic B. socioeconomic, physiological, and psychological C. undifferentiated, concentrated, and differentiated D. product, service, and brand
C. undifferentiated, concentrated, and differentiated
Stepan Chemical manufactures a high-quality chemical called a surfactant. Surfactants are utilized in a variety of other manufactured products such as shampoo, laundry detergent, dishwashing liquid, paint, adhesives, inks, and pesticides used in agriculture. Stepan uses ________ variables in marketing their surfactant products. A. geographic location B. customer size C. use of product D. demographics
C. use of product
The owner of the remodeling company, Windows & More believes that sales for replacement windows, siding, sunrooms, and awnings will continue to be strong as more consumers decide to stay in their homes rather than upgrade to a larger, more expensive home. Therefore, based on the economic projections of stable levels of inflation, low to average income growth, but rising costs for some products, he forecasts his sales for the year based on these economic indicators. The owner of Windows & More is using a _______ approach to estimating sales potential. A. recessionary B. pyramid C. buildup D. breakdown
D. breakdown
Justin Squires is a brand manager of a popular sports apparel and shoe company and works primarily with the running shoe product category. Justin knows that there are many different types of runners who could be a good market segment for his category. However, he prefers to use a _____ targeting strategy by implementing just one marketing mix and focusing on the elite or high-distance runner who often competes in local, regional, or national races and averages over 100 miles per week in training. This segment of runners purchases more shoes annually since shoes must be replaced every 500 miles or so and are willing to spend more money on their shoes since they are so involved with the sport. A. differentiated B. homogeneous C. undifferentiated D. concentrated
D. concentrated
An appropriate method of developing sales forecasts for companies with a relatively small number of customers is A. expert forecasting survey B. Delphi technique C. executive judgment D. customer forecasting survey
D. customer forecasting survey
Patagonia is a California-based manufacturer of high-quality lifestyle clothing and clothing for outdoor enthusiasts such as mountain climbers. Patagonia operates specialty stores in selective areas which are chosen due to the high concentration of individuals within the chosen market area who are most likely to purchase Patagonia products. Patagonia's stores are located near areas which have natural rock formations or proximity to National Parks where people engage in outdoor activities such as hiking, snow skiing, or climbing. What type of segmentation variable does Patagonia utilize when selecting locations for its retail outlets? A. psychographic B. lifestyle C. demographic D. geographic
D. geographic
The Domino brand is a leading manufacturer of sugar and is part of the ASR Group, the world's largest refiner of cane sugar. Sugar is a staple product that most people keep on hand in their pantry for everyday use as a sweetener or baking ingredient. Domino believes its market is _______, where individuals have similar needs for the product and therefore utilizes a _________ targeting strategy as they can incorporate a single marketing mix and direct it at the entire market for their sugar products. A. heterogeneous; differentiated B. homogeneous; differentiated C. heterogeneous; undifferentiated D. homogeneous; undifferentiated
D. homogeneous; undifferentiated
Ford Motor Company expects to spend $10 million to market the Ford F150 truck and expects to sell 75,000 units annually. These 75,000 units represent Ford's A. market sales B. market potential C. sales potential D. sales forecast
D. sales forecast
Which of the following best describes the final step in the target market selection process? A. revise final segmentation variables based on target selection B. develop segment profiles C. evaluate specific target markets D. select specific target markets
D. select specific target markets
