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Exam 5: Target Market Segmentation and Evaluation

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Question 71

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The ways in which customers use a particular product may be a basis for segmenting the market.

A) True
B) False

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Question 72

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Pillsbury defines all purchasers of flour as its target market. What targeting strategy would be most appropriate in this case?

A) Concentrated
B) Differentiated
C) Wide appeal
D) Undifferentiated
E) Clustered

F) A) and D)
G) None of the above

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Question 73

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The manager at a local recreational vehicle store, Off-Road Rage, believes the next two years will be difficult because of an economic recession. Using this forecast, he determines the effect on the industry's market potential and then estimates how his company's potential sales will look based on this outlook. This manager is using a ____ approach to estimating sales potential.

Budweiser may choose to segment its market based on heavy, moderate, and light drinkers of its alcoholic beverages. This is an example of market segmentation based on

Marketers for C & H Sugar believe that consumers have similar needs for the product. C & H will most likely use a(n) ____ approach in defining a target market.

Demographic characteristics are commonly used to segment a market because they are closely related to consumers' product needs and purchasing behavior.

In an effort to forecast his firm's sales for the coming year, Henry Thompson takes sales for the last three years and calculates a growth trend. Henry is employing which forecasting method?

A marketer can use regression analysis techniques to predict the sales of new products.

One way marketers can segment business markets is according to their geographic location.

All of the following are categories of common forecasting techniques for business except

Which of the following is the biggest drawback to using psychographic variables?

Guess? will be spending $22 million on marketing activities next year and expects to sell 30 million pairs of jeans. These 30 million pairs represent the company's

Using the breakdown approach to sales potential, estimates are made

Why is it important for marketers to forecast sales potential for the entire industry as well as for the individual company?

Volkswagen markets its Routan to large families, its R32 racecar to men, and its Jetta to young singles. What targeting approach is Volkswagen using?

In developing a company sales forecast, the forecasting methods are limited to surveys and correlation methods.

How do business markets differ from consumer markets?

The amount of product a company expects to sell during a specific period at a specified level of marketing activity is called the

Motives can be used to segment markets.

Company sales potential is the maximum percentage of market potential that an individual firm within an industry can expect to obtain for a specific product.