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Multiple Choice Quiz 3
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There is a large Chinese population in British Columbia. The Hong Kong Bank of Canada (HKBC) tries to design its services to attract first-generation Chinese. HKBC uses a _____ strategy.
A)market aggregation
C)mass marketing
D)market segmentation
E)product development
Toyota offers its Prius vehicle, which is a hybrid running with both a gasoline and electric motor. This gives the vehicle much greater fuel economy than a conventional car, while offering substantial environmental benefits. This is an example of:
C)market aggregation
D)product differentiation
E)targeted differentiation
Marketers use market segmentation to:
A)to link market needs to an organization's marketing program.
B)to relate supply to demand in economic terms.
C)to develop specific marketing actions related to the 4 P's.
D)to increase overall sales, profits and/or other organizational goals.
E)to do all of the above.
When a firm produces only a single product or service and attempts to sell it to two or more market segments, it often avoids _____, which often leads to extremely high research, engineering, and manufacturing expenses.
A)the extra cost of developing and producing additional versions of the product
B)a service gap
C)indirect distribution and logistics problems
D)strategic planning
E)amortization costs
The ultimate criterion in segmenting markets is that _____ as a result of increased synergy.
A)investors should make more money
B)executives should get larger salaries
C)products should be made more cheaply
D)customers should be better off
E)the government should collect more taxes
CARP, the Canadian Association for Retired Persons, publishes 50Plus magazine. The market segment for 50Plus magazine was defined by:
A)usage rates.
B)usage patterns.
C)buyer situations.
D)demographic characteristics.
E)psychographic characteristics.
Nyquil advertises that it alleviates "the nighttime, sniffling, sneezing, coughing, aching, stuffy head, fever" and helps you get the rest you need to get better. Nyquil uses a segmentation strategy based on _____ variables.
C)benefits sought
D)product knowledge
The target market for cooking books is predominantly female and over 25 while the readership for comic books is mainly males between the ages of 15 to 25. This is important _____ information for a publisher to know.
D)benefits sought
The 80/20 rule is most closely related to which consumer segmentation variable?
C)benefits sought
Which of the following variables is NOT commonly used to segment organizational markets?
A)ownership type
C)NAICS code
D)benefits sought
E)number of employees
J. T. Baker is a company that sells mercury spill cleanup products to companies that use mercury in their production process. J.T. Baker sells aspirators for cleaning up larger spills, gloves, scoops, absorbents for eliminating vapors, and a mercury indicator paste for finding small droplets. Any of these supplies can be purchases separately or as a kit. J.T. Baker uses _____ segmentation to sell its products.
A)benefits sought
B)buying condition
Sometimes, analysis of customer segments leads to the conclusion that some are unprofitable to serve. According to your text, which action can this lead to?
A)Cross-customer segmentation
B)Multiple segment strategy
C)Product-market grid.
E)Avoiding that segment.
Which of the following is NOT a criterion to use when choosing a target market segment?
A)market size
B)cost of reaching the segment
C)plenty of healthy competition
D)expected growth
E)compatibility with the organization’s on objectives and resources
A perceptual map most closely resembles a:
A)matrix with horizontal and vertical axes.
B)topographic map.
C)hierarchical pyramid with the lowest level having many more examples than the top.
D)cross-tabulation table.
E)bell curve.
Which of the following is the best example of repositioning?
A)When sales of Crest toothpaste plateaued, marketers used a bundling strategy to get customers to buy the toothpaste and a toothbrush.
B)Snickers introduced a dark chocolate version of its original milk chocolate candy bar.
C)Slow sales of soup led the Campbell Soup Company to promote recipes using soup as a main ingredient.
D)While continuing to make its computers designed for business purposes, Packard Bell introduced a computer for ultimate consumers.
E)Starbucks Coffee Company licenses another company to manufacture and market Starbucks coffee-flavored ice cream.
Which of the following forecasting techniques would be most accurate for estimating sales revenues for Waste Treatment Inc.'s commercial garbage disposal equipment for next year?
A)a survey of buyers' intentions forecast
B)a technological forecast
C)a jury of expert opinion forecast
D)a Delphi forecast
E)trend extrapolation

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