Chapter 08 - Chapter 8Segmenting and Targeting Markets...

Chapter 08
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Chapter 8—Segmenting and Targeting Markets TRUE/FALSE 1. Fisher-Price developed a line of toys for infants in China. Babies make up the market for these products. ANS: F Infants can’t make purchases and, therefore, cannot be called a market. Their parents would constitute a market. PTS: 1 REF: 117 OBJ: 08-1 TYPE: App TOP: 2. Fisher-Price is identifying Asian markets that are interested in their line of talking toys. Fisher-Price is engaged in the process of market segmentation. ANS: T PTS: 1 REF: 118 OBJ: 08-1 TYPE: App TOP: 3. Until the 1990s, few firms practiced market segmentation. ANS: F Firms practiced market segmentation after the 1960s. PTS: 1 REF: 118 OBJ: 08-1 TYPE: Comp TOP: 4. A market segment is deemed to have substantiality if it contains a large number of potential customers. ANS: F Substantiality of a segment refers to a segment being large enough to warrant developing and main- taining a special marketing mix. This does not necessarily require large numbers of potential custom- ers. PTS: 1 REF: 118 OBJ: 08-3 TYPE: Comp TOP: 5. A segmentation plan must produce segments that exhibit responsiveness, which means all segments re- sponse similarly to a marketing mix. ANS: F Responsiveness means one market segment responds to a marketing mix differently from other seg- ments. PTS: 1 REF: 119 OBJ: 08-3 TYPE: Comp TOP: 6. Geography, psychographics, and benefits sought are examples of possible segmentation variables used by marketers. ANS: T PTS: 1 REF: 119 OBJ: 08-4 TYPE: Def
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TOP: 7. U.S. paint manufacturers traditionally use different formulae for developing paint to be used in the hu- mid Southeast, the frigid Midwest, and the hot and dry Southwest. This is an example of how demo- graphic segmentation is used. ANS: F Regional marketing is an example of using geographic segmentation variables. PTS: 1 REF: 119 OBJ: 08-4 TYPE: App TOP: 8. A market segmentation study done by the University of Thessaly in Greece classified recreational ski- ers in terms of their gender, age, and educational levels. The study used psychographic segmentation variables. ANS: F These are examples of demographic segmentation variables. PTS: 1 REF: 120-122 OBJ: 08-4 TYPE: App TOP: 9. Clearing Skies Press published a book by Robert Ruark entitled Keeping the Baby Alive Till Your Wife Gets Home . It is an advice book for new fathers. The market for this books is based on demographics.
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