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Unformatted text preview: Mini test 3 The most attractive market segment for fast food restaraunts is heavy users (no pun intended). These customers visit fast food restaraunts 14 or more times per month on average. This is an example of _______________ segmentation in the fast food industry? a. Buying situation Which of the following is a condition that must be met before you can consider a group of people to be a market segment? b. They must be different from people who are not in the segment in some meaningful way. Which of the following is a major disadvantage of the test-market approach to forecasting. e. The time it takes to conduct the test market may put you at a competitive disadvantage in the marketplace. The Boston Consulting Group matrix is a 2x2 matrix with four positions: cash cows, stars, problem children (or question marks) and dogs. When looking at market segments, the portfolio approach is a useful tool for: c. The BCG matrix is useful for all of these. Many national magazines such as Time or Business Week contain have advertising that is different depending on where in the country the magazine is purchased. These regional editions are useful for marketers trying to communicate with customers who have been segmented according to ____________? a. Geograpy Which of the following explains the law of truly large numbers as discussed in class? e. Given a large enough group of people, we can predict what a subset will do with respect to your product. What do we mean when we speak of the 80/20 rule? b. A small fraction of a firm's customers provide a large fraction of a firms sales A(n) ______________ targeting strategy focuses on one specific marketing segment with one marketing mix? e. Concentrated The best understanding of market dynamics comes when market size is expressed in…? a. Both dollars and units Which of the following is NOT a way perceptual maps can help you with your positioning strategy? c. Determine which of two alternative products your customers will prefer. 1 According to your instructor, what is a major disadvantage of the trend analysis method to forecasting? b. Relying on statistical analysis means you risk ignoring foreseeable environmental factors. Alexis is the furniture division sales manager for a textile (cloth) manufacturing company. He has a team of 15 salespeople who call on 200 customers regularly over the course of the year. These customers account for 85% of Alexis’ company’s sales and buy 80% of the textiles used for furniture in this country. Alexis is likely to use the __________ method to forecast demand? b. Survey of buyer intentions According to the instructor, which of the following sources of information is frequently ignored when determining a company's actual market position?...
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This note was uploaded on 09/20/2011 for the course MKTG 431 taught by Professor Brucerobertson during the Spring '07 term at S.F. State.
- Spring '07