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Multiple Choice Quiz
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The purpose of market segmentation is to respond more effectively to the wants of groups of potential buyers in order to
A)maintain market share.
B)increase sales and profits.
C)be more socially responsibility.
D)use the firm's resources more efficiently.
E)provide the best quality products on the market.
Which of the following is an example of a single product with multiple market segments?
A)Reebok makes tennis shoes, running shoes, walking shoes, and Weeboks.
B)Reach Toothbrush available in a soft, medium, and hard bristle for adults and kids.
C)Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.
D)Kellogg's and Post both make bran cereals with raisins to reach health-conscious consumers.
E)Quaker Oats oatmeal sells both its hot cereals and cold cereals to people of all ages.
Synergy is the increased customer value achieved through
A)performing organizational functions more efficiently.
B)attracting customers from competitors.
C)involving ultimate consumers in the firm's product development efforts.
D)increasing the focus on price.
E)promoting sustainable development initiatives.
There are five steps involved in segmenting and targeting a market. What should a marketer do once he or she has grouped products to be sold into categories?
A)execute marketing program actions
B)develop a market-product grid and estimate size of markets
C)identify market needs
D)take marketing actions to reach the target market
E)group prospective buyers into market segments
Which of the following is a criterion used in forming market segments?
A)an organization's competitors have identical segments
B)there are differences between potential suppliers or distributors
C)there are differences of needs between buyers within segments
D)there is the potential of marketing action to reach a particular segment
E)monitoring a company's product-market profitability
People who live active outdoor lives are part of the target market for REI, a retail outdoor outfitter. This suggests that REI would most likely segment the market based on which type of consumer segmentation basis?
On a traditional market-product grid, the horizontal axis represents __________ and the vertical axis represents __________.
A)market segments; product groupings
B)product groupings; market share
C)product groupings; relative market shares
D)potential profits; market growth rates
E)market growth rates; relative market shares
Which of the following is a criterion used for selecting a target market segment?
A)expected growth
B)potential for increased profit
C)similarity of needs of potential buyers within a segment
D)difference of needs of buyers among segments
E)potential of a marketing action to reach a segment
Consumer markets break behavioral segmentation into variables based on product features or usage rate. Organizational markets break demographic segmentation into variables based in part on __________ and __________.
A)usage rate; type of outlet
B)global region; statistical area
C)statistical area; annual sales
D)NAICS sector; statistical area
E)NAICS code; number of employees
Magnavox sells its target markets many different types of TVs from flat screens to a 20" combination TV/DVDs. The larger sets can be outfitted with surround sound at a higher price than the smaller sets. The smaller sets are much less expensive and allow the viewer to watch a DVD without extra equipment. Magnavox is using which type of segmentation variable in this example?
A)demographic segmentation
B)psychographic segmentation
C)geographic segmentation
D)behavioral segmentation
E)socioeconomic segmentation

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