Market Segments and Targets

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Chapter 8: Identifying Market Segments and Targets GENERAL CONCEPT QUESTIONS Multiple Choice 1. Instead of scattering their marketing effort (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. “rifle” b. “focused” c. “niche” d. “macro” e. “micro” Answer: a Page: 240 Level of difficulty: Easy 2. 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. differentiated Answer: b Page: 240 Level of difficulty: Medium 3. The argument for ________ marketing is that it creates the largest potential market, which leads to the lowest costs, which in turn can lead to lower prices or higher margins. a. niche b. micro c. macro d. differentiated e. mass Answer: e Page: 240 Level of difficulty: Medium 205 Part 3: Connecting with Customers 4. 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 Answer: d Page: 240 Level of difficulty: Medium 5. A ________ consists of two parts: a naked solution and discretionary options. a. differentiated market offering b. flexible market offering c. rigid market offering d. vertical market offering e. horizontal market offering Answer: b Page: 241 Level of difficulty: Hard 6. If a marketing manager observes that his or her market shows no natural segments and consumers seem to have roughly the same preferences, the marketing manager will most likely be faced with a ________ preferences pattern. a. homogeneous b. heterogeneous c. diffused d. clustered e. scattered Answer: a Page: 241 Level of difficulty: Medium 7. Procter &

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