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70 Cards in this Set

  • Front
  • Back
Which of the following is NOT a characteristic of a consumer market?
their purchasing decisions are always made by only one individual
Which of these statements is NOT true about business markets?
the purchase is always made by more than one individual
Which of the following is NOT a requirement or characteristic of a market?
a large number of people or organization
In order to be considered a market, people do NOT have to have
discretionary income to purchase the product
Consumers that do now own dogs are not likely to be in the market for dog food because
they do not have the need or desire for dog food
The ability to purchase a product is a function of
buying power
Adolescents are not considered part of the market for casinos because they
have very little buying power
Generally speaking, individuals who are unemployed would NOT be considered a target market for Mercedes or other luxury European import sedans because
they would not have the ability to purchase such products
Miller Brewing does not consider teenagers to be part of the beer market because they lack the
authority to buy beer
When marketing research shows that a group of people does not desire a particular product, the people in that group
are not a market for the product
The first step in the target market selection process is
identifying an appropriate targeting strategy
To find a target market, a firm can use the
undifferentiated strategy, the concentrated strategy, and the differentiated strategy
Pillsbury defines all purchasers of flour as its target market. What targeting strategy would be most appropriate?
When a firm designs a single marketing mix and directs it at an entire market for a particular product, the company is using an
undifferentiated strategy
Why would a company use the undifferentiated strategy?
the needs of individual consumers in the target market for a specific product are similar, so the organization can satisfy most customers with a single marketing mix
When the needs of individual consumers in a target market for a specific product are similar and the organization can satisfy most customers with a single marketing mix, the best approach to use may be the
undifferentiated strategy
Which of the following statements about the undifferentiated targeting strategy is false?
The undifferentiated targeting strategy uses multiple distribution systems to best reach individuals in the target market.
The ProMark Company manufactures and sells only one type of ballpoint pen at just one price. All its advertising is the same and is directed at the mass market. What type of targeting strategy is the ProMark Company using?
Marketers for C&H Sugar believe that consumers have similar needs for the product. C&H will most likely use an
Undifferentiated approach in defining a target market
If Morton Salt saw all table salt customers are pretty much alike and this offered only one marketing mix, it would be using the
undifferentiated strategy
A market in which a large proportion of customers have similar needs for a product is called an
homogeneous market
The undifferentiated targeting strategy for finding a target market will most likely NOT be successful if
people within the market have heterogeneous needs
Most markets for products are made up of individuals or groups with diverse needs for products and are called
heterogeneous markets
Toyota has learned that some people want sports cars, while others want vans, trucks, sedans, and economy cars. In this instance, Toyota has found its markets to be
Individuals, groups, or organizations with one or more similar characteristics that cause them to have similar product needs are classified as
market segments
Mattel views the toy market as composed of four age groupings, each with different needs and desires. Each of these groups are known as
a market segment
The purpose of market segmentation is to
divide a total market to enable a marketer to develop a more precise marketing mix
The process of dividing a total market into groups because people within each group have relatively similar product needs is called
Several conditions must exist for market segmentation to be successful. These conditions include all of the following except
customer's needs for the product must be homogeneous
A business advantage of the concentrated targeting strategy for any company is that it
allows a firm to develop a special marketing mix for a single market segment
A targeting strategy in which an organization targets a single market segment using one marketing mix is called a
concentrated strategy
When markets re comprised of people with differing product needs, the marketing manager should use a
concentrated or differentiated strategy
A disadvantage of the concentrated targeting strategy is that
the firm's financial condition is tied to a single and specialized marketing mix
If Jaguar focused all its marketing efforts for the new Jaguar XKR on professionals earning more than $250,000 it would be using a
concentrated strategy
Tiffany's markets its exclusive jewelry and gifts to high-income individuals interested in high-quality products and a well-known brand name. It uses the same marketing mix to reach this market. Tiffany's uses a
concentrated targeting strategy
Interior Designs Inc. sells expensive custom-made draperies, bedding, and accessories using a single marketing mix and is therefore most likely using a
concentrated targeting strategy
The primary advantage of a concentrated targeting strategy is
it allows a firm to specialize to meet specific customer needs
Procter and Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter and Gamble is using a
differentiated targeting strategy for laundry detergents.
Volkswagen markets its Routan to large families, its R32 race care to men, and its Jetta to young singles. What targeting approach is Volkswagen using?
A targeting strategy in which an organization directs its marketing efforts at several segments is called a
differentiated strategy
If a company markets its products to several different countries, it is using a
differentiated targeting strategy to segment the total market.
After a firm has identified an appropriate targeting strategy, the next step in the target market selection process is
determining which segmentation variables to use
Characteristics of individuals, groups, or organizations that are used for dividing a total market into smaller homogeneous groups are called
segmentation variables
Age, rate of product use, location, and gender are all example of common
segmentation variables
Segmentation variables are usually grouped into four categories
demographic, geographic, psychographic, and behavioristic
Which of the following is not one of the major categories of consumer market segmentation variables?
situational variables
Occupation, family size, and family life cycle are all _____ variables for segmenting consumer markets
McDonald's uses a segmentation strategy for its sandwiches based on market characteristics such as age, gender, or income. Which of the following segmentation variables is McDonald's using?
With its Venus razor, Gillette was the first marketer to offer a triple blade razor specifically designed for women. This is an example of market segmentation using _____ variables.
Kelly's Kids is a home-based business that sells high-quality children's clothing at premium prices using in-home parties. These in-home parties typically cater to families with small children and middle to upper class income. Kelley's Kids is using _____ variables to segment its market.
Cosmo magazine, secret deodorant, and Eve cigarettes are all products whose marketers have used segmentation based on
A marketer that targets customers based on marital status and the presence and age of children is using
family life cycle
Which of the following products is most likely to have its market segment based on age?
If Campbell were to offer single serving "Soup for One" packages to small household markets, it would be using segmentation based on
family life cycle
Which of the following products is least likely to be segmented according to stages in the family life cycle?
Diet Coke
Family life cycle is most typically based on
marital status and age of children
Population density and city size are _____ variables used for market segmentation.
Zerex markets its radiator liquid as a coolant in the South and an antifreeze in the North. Which of the following segmentation variable is Zerex using?
Many marketers are concerned about the number of potential customers within a certain area of land because of the differentiated requirements to serve dissimilar areas. What is this segmentation variables called?
Market density
Subaru is producing a new crossover van with all-wheel drive. Which of the following would be a likely variable for segmenting the market for this new model?
geographic location
Systems such as PRIZM and Acorn provide companies with lifestyle and demographic information about neighborhoods throughout the US. This information is used to aid
geodemographic segmentation
Justin Franklin's company is interested in locating areas where the average income is high, the average age range is 25-35 years, and the lifestyles of the people involve extreme adventures and dangerous leisure activities. His company would most likely find possible markets through
geodemographic segmentation
Micromarketing is
a market segmentation approach in which firms focus precise marketing efforts on very small geographic markets
Retail-site location analyses, unique product offerings, and special advertising campaigns are all examples of the use of
Which of the following is the biggest drawback to using psychographic variables?
they are difficult to measure
The three most commonly used psychographic segmentation variables are
personality, motives, and lifestyles.
When research indicated that Bluetooth's products were not reaching the correct target market, marketers of Bluetooth decided to change from demographic segmentation to psychographic segmentation. Which group of new segmentation variables will Bluetooth now by using?
personality characteristics, motives, and lifestyles
When using personality characteristics as a market segmentation variable, marketers generally
use a positively viewed characteristic they assume much of their markets has or would like to have
When using personality characteristics as a market segmentation variable, marketers generally
use a positively viewed characteristic they assume much of their target market has or would like to have
The psychographic variable that includes numerous characteristics related to people's activities, interests, and opinion is