The purpose of market segmentation is to: A)differentiate among similar products B)divide the total market to allow the marketer to develop a more precise marketing mix C)reduce the overall cost of marketing activities D)identify a single marketing mix that will be satisfy market segments E)meet the needs of homogeneous markets

The purpose of market segmentation is to:
A)differentiate among similar products
B)divide the total market to allow the marketer to develop a more precise marketing mix C)reduce the overall cost of marketing activities
D)identify a single marketing mix that will be satisfy market segments
E)meet the needs of homogeneous markets
by

1 Answer

Answer :

B)divide the total market to allow the marketer to develop a more precise marketing mix
by

Related questions

Which of the following is the MAIN advantage of multivariable segmentation: A)provides more information about the individuals in each segment B)allows the company to develop a marketing mix that will satisfy customers in a segment more precisely C)allows the company to develop a larger number of segments D)allows more than one variable to be used to segment markets

Description : Which of the following is the MAIN advantage of multivariable segmentation: A)provides more information about the individuals in each segment B)allows the company to develop a marketing mix that will ... a larger number of segments D)allows more than one variable to be used to segment markets

Last Answer : B)allows the company to develop a marketing mix that will satisfy customers in a segment more precisely

A marketer of industrial cleaning equipment is creating a marketing mix to satisfy potential customers. As a business to business marketer which of the following is LEAST likely to be included in the company's marketing mix? A)Machine servicing B)A higher price for higher -quality products C)Technical advice about the product D)Credit extension E)Extensive television advertising

Description : A marketer of industrial cleaning equipment is creating a marketing mix to satisfy potential customers. As a business to business marketer which of the following is LEAST likely to be ... -quality products C)Technical advice about the product D)Credit extension E)Extensive television advertising

Last Answer : E)Extensive television advertising

Marketers of Procter & Gamble products define markets on the basis of both volume usage of the product and annual family income. This is an example of which market segmentation approach? A)homogeneous B)multisegement C)variable D)benefit E)multivariable

Description : Marketers of Procter & Gamble products define markets on the basis of both volume usage of the product and annual family income. This is an example of which market segmentation approach? A)homogeneous B)multisegement C)variable D)benefit E)multivariable

Last Answer : E)multivariable

A primary advantage of the concentration targeting strategy is that: A)it requires less market research and information B)it requires less intensive analysis of customers needs C)it maintains the firm's flexibility in moving into other market segments D)it permits development of a special marketing mix for a single market segment

Description : A primary advantage of the concentration targeting strategy is that: A)it requires less market research and information B)it requires less intensive analysis of customers needs C)it maintains the ... market segments D)it permits development of a special marketing mix for a single market segment

Last Answer : D)it permits development of a special marketing mix for a single market segment

To ensure the effectiveness of segmentation, the segments should be measurable, substantial, accessible, and: A)precise B)stable C)economic D)reachable

Description : To ensure the effectiveness of segmentation, the segments should be measurable, substantial, accessible, and: A)precise B)stable C)economic D)reachable

Last Answer : B)stable

The term "marketing mix" describes: A. A composite analysis of all environmental factors inside and outside the fir B. A series of business decisions that aid in selling a product C. The relationship between a firm's marketing strengths and its business weaknesses D. A blending of four strategic elements to satisfy specific target markets

Description : The term "marketing mix" describes: A. A composite analysis of all environmental factors inside and outside the fir B. A series of business decisions that aid in selling a product ... strengths and its business weaknesses D. A blending of four strategic elements to satisfy specific target markets

Last Answer : D. A blending of four strategic elements to satisfy specific target markets

Marketing efforts are specifically aimed at: A)distributing "something of value" to buyers and sellers. B)facilitating satisfying exchange relationships. C)developing new products for target markets. D)understanding buyer behaviour to meet buyer needs.

Description : Marketing efforts are specifically aimed at: A)distributing "something of value" to buyers and sellers. B)facilitating satisfying exchange relationships. C)developing new products for target markets. D)understanding buyer behaviour to meet buyer needs.

Last Answer : B)facilitating satisfying exchange relationships.

The marketing concept is a philosophy that states that an organisation should try to satisfy customers' needs and at the same time: A)increase market share. B)increase sales. C)achieve the organisation's goals. D)always produce high E)quality products.

Description : The marketing concept is a philosophy that states that an organisation should try to satisfy customers' needs and at the same time: A)increase market share. B)increase sales. C)achieve the organisation's goals. D)always produce high E)quality products.

Last Answer : C)achieve the organisation's goals.

What factors should guide a company's planning efforts? A)A company's budget and overall objectives B)An analysis of target markets and the company's marketing mix C)A company's budget and overall mission D)A company's marketing mix and overall mission E)A company's mission and overall organisational goals

Description : What factors should guide a company's planning efforts? A)A company's budget and overall objectives B)An analysis of target markets and the company's marketing mix C)A company's budget and ... D)A company's marketing mix and overall mission E)A company's mission and overall organisational goals

Last Answer : E)A company's mission and overall organisational goals

The two steps of developing a marketing strategy include selecting and analysing a target market and: A)selecting a group of persons towards which the firm should direct its marketing efforts. B)developing marketing objectives to meet organisation goals C)deciding how to organise the marketing department to meet customer needs. D)developing a marketing mix that precisely meets the needs of individuals in the target market.

Description : The two steps of developing a marketing strategy include selecting and analysing a target market and: A)selecting a group of persons towards which the firm should direct its marketing efforts. B) ... D)developing a marketing mix that precisely meets the needs of individuals in the target market.

Last Answer : D)developing a marketing mix that precisely meets the needs of individuals in the target market.

In establishing sales promotion objectives, a marketer should always A)concentrate on activities that will increase consumer demand. B)focus on consumers. C)be defensive in the methods used. D)align objectives with the organization's overall objectives.

Description : In establishing sales promotion objectives, a marketer should always A)concentrate on activities that will increase consumer demand. B)focus on consumers. C)be defensive in the methods used. D)align objectives with the organization's overall objectives.

Last Answer : D)align objectives with the organization's overall objectives.

If Jaguar cars focused all of its marketing efforts on professionals with over £75,000 gross earnings, it would be using a ______ targeting strategy. A)homogeneous B)undifferentiated C)multisegment D)concentration E)segmentation

Description : If Jaguar cars focused all of its marketing efforts on professionals with over £75,000 gross earnings, it would be using a ______ targeting strategy. A)homogeneous B)undifferentiated C)multisegment D)concentration E)segmentation

Last Answer : D)concentration

Which of the following approaches to the marketing mix in international markets is MOST consistent with globalisation? A)keep product and promotion the same B)adapt product only C)adapt promotion only D)adapt promotion and prive E)invent new products

Description : Which of the following approaches to the marketing mix in international markets is MOST consistent with globalisation? A)keep product and promotion the same B)adapt product only C)adapt promotion only D)adapt promotion and prive E)invent new products

Last Answer : A)keep product and promotion the same

Which one of the following statements by a company chairman best reflects the marketing concept? A)We have organised our business to make certain that we satisfy customer needs. B)We believe that the marketing department must organise to sell what we produce. C)We try to produce only high quality, technically efficient products. D)We try to encourage company growth.

Description : Which one of the following statements by a company chairman best reflects the marketing concept? A)We have organised our business to make certain that we satisfy customer needs. B)We believe ... to produce only high quality, technically efficient products. D)We try to encourage company growth.

Last Answer : A)We have organised our business to make certain that we satisfy customer needs.

Gillette was the first marketer of disposable razors to offer a product specifically designed for women. This is an example of segmentation using _______ variables: A)Demographic B)Psychographic C)Geographic D)Family life cycle E)Product use

Description : Gillette was the first marketer of disposable razors to offer a product specifically designed for women. This is an example of segmentation using _______ variables: A)Demographic B)Psychographic C)Geographic D)Family life cycle E)Product use

Last Answer : A)Demographic

he two components of a marketing strategy are: A)marketing objectives and promotion B)marketing mix and marketing objectives C)target market and marketing mix D)target markets and promotions

Description : he two components of a marketing strategy are: A)marketing objectives and promotion B)marketing mix and marketing objectives C)target market and marketing mix D)target markets and promotions

Last Answer : C)target market and marketing mix

Most specifically, marketing strategy: A)is concerned with key decisions required to reach an objective VU Cafeteria B)encompasses selecting and analysing a target market and creating and maintaining an appropriate marketing mix C)expands geographic boundaries of markets to serve larger geographic areas D)involves determining the direction and objectives of marketing management

Description : Most specifically, marketing strategy: A)is concerned with key decisions required to reach an objective VU Cafeteria B)encompasses selecting and analysing a target market and creating ... to serve larger geographic areas D)involves determining the direction and objectives of marketing management

Last Answer : B)encompasses selecting and analysing a target market and creating and maintaining an appropriate marketing mix

Which of these approaches to adapting the marketing mix for international markets is LEAST costly? A)adapt product only B)adapt promotion only C)adapt promotion and prive D)invent new products

Description : Which of these approaches to adapting the marketing mix for international markets is LEAST costly? A)adapt product only B)adapt promotion only C)adapt promotion and prive D)invent new products

Last Answer : B)adapt promotion only

All elements of the marketing mix are influenced by physical distribution functions. For this reason, it is important for marketers to remember that A)physical distribution decisions must be made prior to any other marketing strategy consideration. B)physical distribution costs often rise as customer service requirements decrease. C)over 75 percent of all marketing costs are associated with physical distribution expenditures. D)no single distribution system is ideal for all situations and target markets.

Description : All elements of the marketing mix are influenced by physical distribution functions. For this reason, it is important for marketers to remember that A)physical distribution decisions must be made ... expenditures. D)no single distribution system is ideal for all situations and target markets.

Last Answer : D)no single distribution system is ideal for all situations and target markets.

Organising a marketing unit by regions works well for a company that A)produces and markets diverse products. B)is small and has a centralised marketing operation. C)markets products nationally and internationally. D)has several groups of customers whose needs and problems are different.

Description : Organising a marketing unit by regions works well for a company that A)produces and markets diverse products. B)is small and has a centralised marketing operation. C)markets products nationally and internationally. D)has several groups of customers whose needs and problems are different.

Last Answer : C)markets products nationally and internationally.

The process of dividing a total market into market groups so that persons within each group have relatively similar product needs is called: A)segmenting B)differentiating C)target marketing D)concentrating

Description : The process of dividing a total market into market groups so that persons within each group have relatively similar product needs is called: A)segmenting B)differentiating C)target marketing D)concentrating

Last Answer : A)segmenting

When a firm's products are marketed outside its home market and home production is VU Cafeteria used to supply these markets, the firm is engaging in A)international marketing. B)global marketing. C)exporting. D)domestic marketing. E)unplanned exporting.

Description : When a firm's products are marketed outside its home market and home production is VU Cafeteria used to supply these markets, the firm is engaging in A)international marketing. B)global marketing. C)exporting. D)domestic marketing. E)unplanned exporting.

Last Answer : C)exporting.

During which step of the marketing segmentation, targeting, and positioning process does the firm “ develop a marketing mix for each segment?” a. market segmentation b. market targeting c. market positioning d. the firm does not go through the “development” during any of the above steps.

Description : During which step of the marketing segmentation, targeting, and positioning process does the firm “ develop a marketing mix for each segment?” a. market segmentation b. market targeting c. market positioning d. the firm does not go through the “development” during any of the above steps.

Last Answer : b. market targeting

The total market approach to finding a target market will probably be UNSUCCESSFUL when: A)product differentiation is used B)the firm defines the total market as its target market C)people within the market have heterogeneous needs D)people within the market have homogeneous needs

Description : The total market approach to finding a target market will probably be UNSUCCESSFUL when: A)product differentiation is used B)the firm defines the total market as its target market C)people within the market have heterogeneous needs D)people within the market have homogeneous needs

Last Answer : C)people within the market have heterogeneous needs

The channel that includes both a manufacturers' agent and an industrial distributor may be appropriate under which of the following circumstances? A)When the firm wants specialised personnel to follow up the work of the sales force B)When the marketer wishes to enter a new geographic market but does not wish to expand the existing sales force C)When only one or two channels of distribution are available for products D)When the sales force is large and the marketer is thinking of cutting it down E)When customers are highly concentrated in one geographic area

Description : The channel that includes both a manufacturers' agent and an industrial distributor may be appropriate under which of the following circumstances? A)When the firm wants specialised personnel to follow ... is thinking of cutting it down E)When customers are highly concentrated in one geographic area

Last Answer : B)When the marketer wishes to enter a new geographic market but does not wish to expand the existing sales force

A product's position is defined by: A)the consumer B)the marketer C)the industry D)competitors E)the market

Description : A product's position is defined by: A)the consumer B)the marketer C)the industry D)competitors E)the market

Last Answer : A)the consumer

Firms that truly adopt the marketing concept develop a distinct organisational culture based on a shared set of beliefs that make __________ the pivotal point of the firm's decisions about strategy and operations. A)beating competitors B)increasing market share C)customers' needs D)marketing implementation E)marketing control

Description : Firms that truly adopt the marketing concept develop a distinct organisational culture based on a shared set of beliefs that make __________ the pivotal point of the firm's decisions ... beating competitors B)increasing market share C)customers' needs D)marketing implementation E)marketing control

Last Answer : C)customers' needs

To ensure the effectiveness of segmentation, the segments should be measurable, substantial, accessible, and : 1. precise 2. stable 3. economic 4. reachable 5. none of these

Description : To ensure the effectiveness of segmentation, the segments should be measurable, substantial, accessible, and : 1. precise 2. stable 3. economic 4. reachable 5. none of these

Last Answer : stable

By using a wholesaler, Inversoft Ltd. has a distinct advantage because the specialised services performed by the wholesaler allow the firm to: A)focus on developing and manufacturing products that match consumers' needs and wants. B)focus on increasing production capacity and efficiency C)reduce manufacturing costs to retailers and provide quality merchandise to consumers.

Description : By using a wholesaler, Inversoft Ltd. has a distinct advantage because the specialised services performed by the wholesaler allow the firm to: A)focus on developing and manufacturing ... capacity and efficiency C)reduce manufacturing costs to retailers and provide quality merchandise to consumers.

Last Answer : A)focus on developing and manufacturing products that match consumers' needs and wants.

The fact that organisational customers purchase products to be used directly or indirectly in the production of goods and services to satisfy customers' needs means that demand for industrial products is: A)joint B)economically stable C)derived D)inelastic E)more fluctuating

Description : The fact that organisational customers purchase products to be used directly or indirectly in the production of goods and services to satisfy customers' needs means that demand for industrial products is: A)joint B)economically stable C)derived D)inelastic E)more fluctuating

Last Answer : C)derived

The major factors used to divide markets into consumer markets or organisational markets are the A)buyer characteristics and size of purchases. B)product prices and buyer characteristics C)buyer characteristics and the purposes for which they buy products. D)buyer characteristics and product characteristics. E)buyers characteristics and the frequency of purchases.

Description : The major factors used to divide markets into consumer markets or organisational markets are the A)buyer characteristics and size of purchases. B)product prices and buyer ... )buyer characteristics and product characteristics. E)buyers characteristics and the frequency of purchases.

Last Answer : C)buyer characteristics and the purposes for which they buy products

According to the text, cost tradeoffs enable firms to A)resolve pricing conflicts among competitors. B)minimise risk during the test marketing of new products. C)reduce costs of all distribution functions simultaneously. D)resolve pricing conflicts within marketing channels. E)combine resources for greatest cost -effectiveness.

Description : According to the text, cost tradeoffs enable firms to A)resolve pricing conflicts among competitors. B)minimise risk during the test marketing of new products. C)reduce costs of all ... . D)resolve pricing conflicts within marketing channels. E)combine resources for greatest cost-effectiveness.

Last Answer : E)combine resources for greatest cost-effectiveness.

____________________ is forming segments of consumers who have similar needs and buying behavior even though they are located in different countries. A. External segmentation B. International segmentation C. Intermarket segmentation D. Enriched segmentation

Description : ____________________ is forming segments of consumers who have similar needs and buying behavior even though they are located in different countries. A. External segmentation B. International segmentation C. Intermarket segmentation D. Enriched segmentation

Last Answer : C. Intermarket segmentation

Henderson Synthetics' management believes that several of the firm's products could have sizeable markets in other countries. In an attempt to maintain a low level of commitment with minimum effort and cost, Henderson would engage in in international marketing through A)contracting. B)exporting. C)joint ventures. D)licensing. E)subsidiaries.

Description : Henderson Synthetics' management believes that several of the firm's products could have sizeable markets in other countries. In an attempt to maintain a low level of commitment with minimum effort and ... through A)contracting. B)exporting. C)joint ventures. D)licensing. E)subsidiaries.

Last Answer : B)exporting.

Beatrice Company markets such diverse products as Rosarita Mexican foods and Samsonite luggage. These various offerings exhibit Beatrice's product mix A)width. B)depth. C)length. D)volume. E)dimension.

Description : Beatrice Company markets such diverse products as Rosarita Mexican foods and Samsonite luggage. These various offerings exhibit Beatrice's product mix A)width. B)depth. C)length. D)volume. E)dimension.

Last Answer : A)width

Zerex markets its radiator liquid as a coolant in Southern Europe and as an antifreeze in Northern Europe. Which of the following segmentation variables is in use here? A)Demographic B)Psychographic C)Geographic D)Life cycle E)Product use

Description : Zerex markets its radiator liquid as a coolant in Southern Europe and as an antifreeze in Northern Europe. Which of the following segmentation variables is in use here? A)Demographic B)Psychographic C)Geographic D)Life cycle E)Product use

Last Answer : C)Geographic

Which of these approaches to adapting the marketing mix for international markets is MOST costly? A)keep product and promotion the same B)adapt product only C)adapt promotion only D)adapt promotion and product

Description : Which of these approaches to adapting the marketing mix for international markets is MOST costly? A)keep product and promotion the same B)adapt product only C)adapt promotion only D)adapt promotion and product

Last Answer : D)adapt promotion and product

A phase out approach can be best described as : A)allowing the product to decline without a change in the marketing strategy B)exploiting any strengths left in the product C)immediately dropping the product from the product mix D)intensifying marketing efforts in core markets

Description : A phase out approach can be best described as : A)allowing the product to decline without a change in the marketing strategy B)exploiting any strengths left in the product C)immediately dropping the product from the product mix D)intensifying marketing efforts in core markets

Last Answer : A)allowing the product to decline without a change in the marketing strategy

Which of the following is an example of a problem that may arise in the implementation of the marketing concept? A)By satisfying one segment in society, a firm contributes to the dissatisfaction of other segments. B)Consumers do not understand what the marketing concept is. C)Dealers do not support the marketing concept. D)A product may fit the needs of too many segments.

Description : Which of the following is an example of a problem that may arise in the implementation of the marketing concept? A)By satisfying one segment in society, a firm contributes to the dissatisfaction of other ... do not support the marketing concept. D)A product may fit the needs of too many segments.

Last Answer : A)By satisfying one segment in society, a firm contributes to the dissatisfaction of other segments.

The term "marketing mix" describes: A. A composite analysis of all environmental factors inside and outside the fir B. A series of business decisions that aid in selling a product C. The relationship between a firm's marketing strengths and its business weaknesses D. A blending of four strategic elements to satisfy specific target markets

Description : The term "marketing mix" describes: A. A composite analysis of all environmental factors inside and outside the fir B. A series of business decisions that aid in selling a product ... strengths and its business weaknesses D. A blending of four strategic elements to satisfy specific target markets

Last Answer : D. A blending of four strategic elements to satisfy specific target markets

Essex Office Products has decided to use a particular competitive tool that it feels will have a major impact. Its consultant, Dr. Bell, contends that this particular approach is the one most easily copied by the firm's competitors. The tool in question is: A)price B)market segmentation C)distribution D)promotion E)product innovation

Description : Essex Office Products has decided to use a particular competitive tool that it feels will have a major impact. Its consultant, Dr. Bell, contends that this particular approach is the one most ... in question is: A)price B)market segmentation C)distribution D)promotion E)product innovation

Last Answer : A)price

A marketing audit's primary purpose is to A)check on the firm's current marketing position for financial and legal reasons. B)identify weaknesses in ongoing marketing operations and plan the necessary improvements to correct these weaknesses. C)focus on a few of the most important marketing activities and plan the methods to improve them. D)aid evaluation and reallocate the firm's marketing efforts and marketing opportunities.

Description : A marketing audit's primary purpose is to A)check on the firm's current marketing position for financial and legal reasons. B)identify weaknesses in ongoing marketing operations and plan the ... improve them. D)aid evaluation and reallocate the firm's marketing efforts and marketing opportunities.

Last Answer : B)identify weaknesses in ongoing marketing operations and plan the necessary improvements to correct these weaknesses.

The consumer’s estimate of the product’s overall capacity to satisfy his or her needs is called: A. Product Cost B. Product Value C Product need D Product Satisfaction

Description : The consumer’s estimate of the product’s overall capacity to satisfy his or her needs is called: A. Product Cost B. Product Value C Product need D Product Satisfaction

Last Answer : B. Product Value

Marketing efforts are specifically aimed a : 1. Distributing "someting of value" to buyers and sellers 2. Facilitating satisfying exchange relationships 3. Developing new products for target markets 4. Understanding buyer behaviour to meet buyer needs 5. None of these

Description : Marketing efforts are specifically aimed a : 1. Distributing "someting of value" to buyers and sellers 2. Facilitating satisfying exchange relationships 3. Developing new products for target markets 4. Understanding buyer behaviour to meet buyer needs 5. None of these

Last Answer : Facilitating satisfying exchange relationships

Through marketing newsprint to newspaper publishers and glass manufacturers that use it in packaging, Consolidated Bathurst segments its market based on: A)customer size B)psychographics C)demographics D)use of product E)geographic location

Description : Through marketing newsprint to newspaper publishers and glass manufacturers that use it in packaging, Consolidated Bathurst segments its market based on: A)customer size B)psychographics C)demographics D)use of product E)geographic location

Last Answer : D)use of product

Company sales forecasts are least likely to be based on A)executive judgment. B)customer surveys or sales -force surveys. C)time series analysis. D)market tests. E)single -variable or multivariable segmentation.

Description : Company sales forecasts are least likely to be based on A)executive judgment. B)customer surveys or sales -force surveys. C)time series analysis. D)market tests. E)single -variable or multivariable segmentation.

Last Answer : E)single -variable or multivariable segmentation.

The marketing audit does all the following except A)establish marketing objectives. B)describe current activities. C)gather information. D)explore opportunities. E)provide an overall database.

Description : The marketing audit does all the following except A)establish marketing objectives. B)describe current activities. C)gather information. D)explore opportunities. E)provide an overall database.

Last Answer : A)establish marketing objectives.

One of the results of the consolidation of wholesaling firms is A)a trend toward globalization of world markets. B)that more wholesalers are becoming specialists. C)changes in the marketing environments. D)that wholesalers are losing their power over retailers. E)increased competition among retailers.

Description : One of the results of the consolidation of wholesaling firms is A)a trend toward globalization of world markets. B)that more wholesalers are becoming specialists. C)changes in the marketing ... . D)that wholesalers are losing their power over retailers. E)increased competition among retailers.

Last Answer : B)that more wholesalers are becoming specialists.

A firm that wants to put more senior management personnel into the field to get closer to customers and to enable the company to respond more quickly and efficiently to competitors would probably organise its marketing unit on the basis of A)functions. B)regions. C)customer types. D)markets. E)products.

Description : A firm that wants to put more senior management personnel into the field to get closer to customers and to enable the company to respond more quickly and efficiently to competitors would probably organise its ... on the basis of A)functions. B)regions. C)customer types. D)markets. E)products.

Last Answer : B)regions.

The marketing conept is a philosophy that states that an organization should try to satisfy customers needs and at the same time : 1. Increase market share2. Increase sales 3. Achive the organization's goals 4. Always produce high quality products 5. None of these

Description : The marketing conept is a philosophy that states that an organization should try to satisfy customers needs and at the same time : 1. Increase market share 2. Increase sales 3. Achive the organization's goals 4. Always produce high quality products 5. None of these

Last Answer : Achive the organization's goals