* not completed

. Why is market segmentation carried out?

To break down large markets into smaller markets. correct incorrect

To provide an opportunity to surpass competitors. correct incorrect

By grouping together customers with similar needs, it provides a commercially viable method of serving these customers. correct incorrect

To allow the achievement of greater market share. correct incorrect

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. The ________________method is one of the main approaches to segmenting markets by adopting the view that the market consists of customers that are essentially the same, so the task is to identify groups which share particular differences.

Sample design. correct incorrect

Breakdown. correct incorrect

Build up. correct incorrect

Profile identification. correct incorrect

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. An example of a segmented market would be:

Phillips marketing its product to all residents of the European Union with one marketing mix based on the concept 'Sense and Sensibility'. correct incorrect

High-income and low-income consumers being treated the same at Marks and Spencer (M&S). correct incorrect

A garden nursery seeing residents of urban areas and rural areas as one market needing trees. correct incorrect

Honda separating its potential customers into economy car buyers and luxury car buyers. correct incorrect

* not completed

. To be effective, the process of market segmentation must meet which of the following basic requirements?

The firm must avoid focusing on non-variables such as profitability and volume. correct incorrect

The market segment must have measurable purchasing power and size. correct incorrect

The company must expand beyond its marketing capabilities to capture growing markets. correct incorrect

The market segment must reflect the population's changing attitudes and lifestyles. correct incorrect

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. Which of the following are the three broad groups of consumer segmentation criteria?

Behavioural, psychological, and profile criteria. correct incorrect

Behavioural-, gender-, and industry-type variables. correct incorrect

Organizational size, demographic, and behavioural variables. correct incorrect

Psychographic, sociological, and price variables. correct incorrect

* not completed

. A commonly used basis for segmenting consumer markets is:

Organizational size. correct incorrect

Demographics. correct incorrect

Product type. correct incorrect

Price. correct incorrect

* not completed

. Which of the following is not an example of a behavioural variable?

Product usage. correct incorrect

Media usage. correct incorrect

Purchase occasion. correct incorrect

Personality. correct incorrect

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. ACORN, a segmentation analysis technique, stands for which of the following?

A corresponding official residential notation. correct incorrect

A classification of reported nationals. correct incorrect

A classification of residential neighbourhoods. correct incorrect

A countrywide official resources navigation. correct incorrect

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. The family life cycle:

Is a way to apply psychographic segmentation. correct incorrect

Refers to the process of family formation and dissolution. correct incorrect

Provides insights into the relationships among age, occupation, income, and housing. correct incorrect

Is composed of the 11 stages of personal growth from infancy to retirement. correct incorrect

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. Psychographic segmentation is based on:

The quantitative side of consumer demographic analysis. correct incorrect

The quantitative side of consumer geographic analysis. correct incorrect

Individuals' residential patterns and life-cycle preferences. correct incorrect

Grouping people according to their psychological characteristics, values, and lifestyles. correct incorrect

* not completed

. Segmentation by benefits sought is a type of product-related segmentation:

To determine the marketer's effectiveness in satisfying the consumer. correct incorrect

Used to create a psychographic profile of the benefit of having the product as a common alternative. correct incorrect

As a post-consumption evaluation tool. correct incorrect

That focuses on the attributes that people seek in a product. correct incorrect

* not completed

. Which of the following are the three broad groups of organizational characteristics segmentation criteria?

Organizational size, industry type, and gender. correct incorrect

Psychographics, purchaser, and behavioural criteria. correct incorrect

Organizational size, industry type, and geographical location. correct incorrect

None of the above. correct incorrect

* not completed

. Which of the following is not a useful base for segmenting organizational characteristics?

By turnover. correct incorrect

By geographical location. correct incorrect

By organizational size. correct incorrect

By industry type. correct incorrect

* not completed

. Before beginning the market segmentation process, a firm should:

Identify bases for segmenting markets. correct incorrect

Forecast total market potential. correct incorrect

Forecast market share. correct incorrect

Select target market segments. correct incorrect

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. The purpose of evaluating the attractiveness of the differing market segments identified in the second stage of the market segmentation process is to:

Identify the specific members of each segment to be able to contact each of them directly. correct incorrect

Determine the level of resources that must be committed to each segment. correct incorrect

Evaluate the market potential within each segment. correct incorrect

Design marketing strategy and tactics to reinforce the firm's image. correct incorrect

* not completed

. A key benefit of the STP process is:

More effective and efficient matching of company resources to targeted market segments promising the greatest ROMI. correct incorrect

Enhancing a company's competitive position by providing direction and focus for marketing strategies. correct incorrect

Examining and identifying growth opportunities in the market through the identification of new customers, growth segments, or new product uses. correct incorrect

All of the above. correct incorrect

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. _____________ is a natural outcome when combining demographic and geographic variables.

Geodemographics correct incorrect

Product differentiation. correct incorrect

ANSOFF matrix. correct incorrect

Brand management. correct incorrect

* not completed

. Organizational characteristics, such as organizational size and location, are sometimes referred to as___________.

DMU. correct incorrect

Firmographics. correct incorrect

ACORN correct incorrect

Product usage. correct incorrect

* not completed

. _______________ are used in the positioning process to illustrate differing attributes of a selection of brands.

Product features. correct incorrect

SIC code. correct incorrect

Perceptual maps. correct incorrect

Organizational characteristics. correct incorrect

* not completed

. Which of the following is the investigation of the hedonic consumption of products?

Social interaction perspective. correct incorrect

Functional utilization perspective. correct incorrect

Experiential consumption. correct incorrect

Brand management perspective. correct incorrect