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Exam 6: Target Markets: Segmentation and Evaluation

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Question 71

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Motives can be used to segment markets.

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B) False

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Question 72

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What variables are used to segment business markets?

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Business markets can be segmented using ...

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Question 73

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What are the major steps of the target market selection process?

When evaluating market segments,which three major issues should be considered?

Most markets for products are made up of individuals or groups with diverse needs for products and are called ____ markets.

The Pillsbury company defines all individual consumers who are purchasers of flour as its target market.It also defines all businesses who purchase flour as its target market.What targeting strategy would be most appropriate in this case?

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

A firm operating in a one-state market would not regionalize its market.

A widely used system for classifying individuals on the basis of lifestyle is

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

The undifferentiated targeting strategy for finding a target market will likely not be successful if

Yvonne and Garret are looking at information about how their organization's products could fit potential customers' needs.This information deals with demographic characteristics,product benefits sought,lifestyles,geographic factors,brand preferences,and usage rates.They are most likely looking at

Segmentation variables are usually grouped into four categories:

Brian works for a manufacturer of sports equipment and is currently developing a company sales forecast for golf clubs.While reviewing data,he discovered a pattern in sales volume over the past ten years that peaked during two months of each year.Brian likely used which sales forecasting technique?

Sales forecasts are always long-range in nature.

In a customer survey,a marketer would question customers about the types and quantities of products they intend to buy during a specific time period.

Dell segments its business markets into small business,corporate,government agencies,K-12 schools,and higher education institutions.The primary segmentation variable used in this example is

Which of the following products is least likely to be segmented according to stages in the family life cycle?

Age,rate of product use,location,and gender are all examples of common

Scenario 6.2 Use the following to answer the questions. GE Transportation produces locomotive engines for sale in countries around the world.After looking at the total market for locomotive engines,the company found that various rail lines wanted different types of engines.Major rail lines in the U.S.and South America wanted engines to haul heavy freight.Rail lines in Sweden and Germany were interested in a cleaner,greener locomotive engine.Rail lines operated by several Eastern European countries wanted locomotive engines for running short distances between cities in their own country.GE Transportation is currently manufacturing its GE 4400 for heavy freight,its Hybrid Eco-Engine,and its Dash 9,suited for shortline transport. -Refer to Scenario 6.2.Researchers at GE Transportation estimate that 1,000 rail lines throughout the world will purchase some kind of locomotive engine next year.That number represents the