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Ch 7 n Second year CH Multiple Choice Instead of scattering their marketing e ?ort a ??shotgun ? approach many companies are now embracing target marketing where the focus is on those consumers that they have the greatest chance of satisfying a approach w

Second year CH Multiple Choice Instead of scattering their marketing e ?ort a ??shotgun ? approach many companies are now embracing target marketing where the focus is on those consumers that they have the greatest chance of satisfying a approach with their products and services a ??ri e ? b ??focused ? c ??niche ? d ??macro ? e ??micro ? In marketing the seller engages in the mass production mass distribution and mass promotion of one product for all buyers a group b mass c general d segmented e di ?erentiated A consists of a group of customers who share a similar set of needs and wants a market target b market group c market slice d market segment e market level Two broad groups of variables are used to segment consumer markets One method uses descriptive characteristics such as geography The other method is to form segments by looking at considerations a gender b income c cultural d interest e behavioral If a marketer decides that segmenting a market based on neighborhoods the marketer will have chosen the method of segmentation a demographic b psychographic c geographic d cultural e social class is the science of using psychology and demographics to better understand consumers a Psychographics b Segmentation c Clustering d Demographics e Social psychology HeshaM HassaN CSecond year CH With respect to occasion segmentation Christmas Valentine ? s Day and account for just over half of gifters ? budgets a Halloween b Mother ? s Day c Thanksgiving d Independence Day If a marketer is seeking to segment a business market which of the following variables is generally felt to be important enough by marketers to place it ?rst among the list of other variables that can be used in segmentation process a Personal characteristics b Demographic c Situational factors d Operating variables e Purchasing approaches To be useful market segments must rate favorably on ?ve key criteria In the criterion e ?ective programs can be formulated for attracting and serving the segments a measurable b substantial c accessible d di ?erentiable e actionable The two ways that large ?rms can cover a whole market e g full market coverage strategy are through and di ?erentiated marketing a undi ?erentiated b logistical c psychological d niche e macromarketing In marketing the ?rm operates in several market segments and designs di ?erent products for each segment a segmented b undi ?erentiated c di ?erentiated d geodemographic e niche All of the following costs are likely to be higher if a marketer pursues a di ?erentiated marketing approach EXCEPT a product modi ?cation costs b manufacturing costs c administrative costs d inventory costs e pricing costs HeshaM HassaN CSecond year CH True False Markets are almost always homogeneous E ?ective target marketing requires that marketers use market segmentation market targeting and market positioning to achieve success in the marketplace A market segment consists of a group of consumers who share a similar set of needs and wants Local marketing