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Exam 15: Segmenting and Targeting Markets

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Question 31

Multiple Choice

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_____ is one of the potential disadvantages associated with a multisegment strategy.

A) Inadequate demand
B) Demarketing
C) Lower profits
D) Cannibalization
E) Loss of synergy

F) C) and D)
G) A) and E)

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Question 32

Multiple Choice

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Turkey Hunting Equipment Around the beginning of fall each year, about 2.7 million turkey hunters all over the United States start looking at catalogs for the perfect item to guarantee that this year they will kill a wild turkey, the most elusive game bird in North America. The devoted turkey stalker can stock up on everything from camouflaged turkey hunting socks, turkey license plate holders, vests with huge pockets for toting dead birds, and hunting videos to turkey decoys, turkey earrings, and turkey callers. Neil Cost is considered the best manufacturer of turkey callers in the world. It is his only product, and each is highly prized by turkey hunters. It is not unusual for a turkey hunter to pay $5,000 for one of Cost's callers. -Refer to Turkey Hunting Equipment.Segmenting a market based on the fact that people who enjoy hunting typically exhibit a particular lifestyle is an example of _____ segmentation.

A) benefit
B) psychographic
C) geographic
D) geodemographic
E) demographic

F) B) and C)
G) A) and D)

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Question 33

Multiple Choice

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Lands' End offers customers the option using special software to accurately gauge what size customers are in Lands' End clothes using a web cam image,and the ability to store size preferences.This is an example of which trend contributing to CRM?

_____ are characteristics of individuals,groups,or organizations that marketers use to divide a total market into segments.

Abbeville Press published a book by Armin Brott and Jennifer Ash entitled The Expectant Father: Facts,Tips,and Advice for Dads-to-Be. It is an advice book for men whose partners are expecting a baby.What demographic variables have been used to define the market for this book?

Companies that adopt a concentrated marketing strategy violate which of the following old sayings?

A potential disadvantage of multisegment targeting is _____,which occurs when sales of a new product cut into sales of a firm's existing products.

The purpose of market segmentation is to:

What is a market segment? Define market segmentation and discuss why market segmentation is important to the well-being of most companies.

While it is important to understand potential business customers' buying processes,this is not a helpful segmentation basis.

What is product differentiation,and how can it be achieved?

Turkey Hunting Equipment Around the beginning of fall each year, about 2.7 million turkey hunters all over the United States start looking at catalogs for the perfect item to guarantee that this year they will kill a wild turkey, the most elusive game bird in North America. The devoted turkey stalker can stock up on everything from camouflaged turkey hunting socks, turkey license plate holders, vests with huge pockets for toting dead birds, and hunting videos to turkey decoys, turkey earrings, and turkey callers. Neil Cost is considered the best manufacturer of turkey callers in the world. It is his only product, and each is highly prized by turkey hunters. It is not unusual for a turkey hunter to pay $5,000 for one of Cost's callers. -Refer to Turkey Hunting Equipment.Wild turkey hunters would be defined as a:

Jane graduated from high school in 1978,is married,and has two teenage children.Most of Jane's friends from high school have children who have already graduated from college and gotten married,and some have grandchildren.Jane and her former classmates are at different stages of the:

Tall Paul's designs and sells household furniture and furnishings to people who are over 6'6" tall--a rather small target market.Tall Paul's uses a(n) _____ targeting strategy.

Pocket-knife collector Sam Penley decided to open The Knife Depot,a store that sells pocket knives and related paraphernalia.After 18 months in business,Sam has noticed that most of his sales are to the same small group of customers (about 40 people) even though he has records to show there are over 200 active pocket-knife collectors within a 50-mile radius of his store.Sam's retailing experience is supportive of the:

When Henry Ford made the Model T,he said that consumers "can have their car in any color they want,as long as it's black." This was a case of:

All of the following are true about CRM except:

Firms can be categorized by the type of purchasing strategy used._____ consider numerous,even unfamiliar,suppliers and solicit and analyze options.

All of the following are advantages of using a concentrated targeting strategy EXCEPT:

ThermaCare air-activated heat wraps are meant to be wrapped around sore muscles and joints.The product is advertised as a powerful pain reliever and a source of deep muscle relaxation.Its soothing warmth can work at night while you sleep to restore your body.The manufacturer of ThermaCare heat wraps is using _____ segmentation.