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Chap009 - CHAPTER 9 IDENTIFYING MARKET SEGMENTS AND TARGETS...

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CHAPTER 9 IDENTIFYING MARKET SEGMENTS AND TARGETS MULTIPLE CHOICE QUESTIONS 9-1 CHAPTER OPENING EXAMPLE: SNEAKERS CONCEPTUAL Heely Sports Ltd. used _____ to locate a market for the latest sneaker craze. a. market segmentation b. financial analysis c. geographic segmentation d. organizational marketing e. sales forecasting Answer: a Page: 238 Rationale: All sneaker manufacturers search for new market segments of consumers and ways to differentiate their products from the competition. 9-2 CHAPTER OPENING EXAMPLE: SNEAKERS CONCEPTUAL Which of the following statements about U.S. trends for sneakers is true? a. Most of the sales of sneakers are to people who do not use them for sports or fitness purposes. b. The average price paid for a pair of sneakers is over $100 and expected to increase. c. Baby boomers are the largest market for sneakers. d. Most sneakers bought for use in some sport are bought for tennis. e. In the sneakers market, the growth potential for women is lower, but women will pay a higher average price for a pair. Answer: a Page: 238 Rationale: Almost 60 percent of sneakers purchased in 2000 cost less than $50 per pair. Teenagers are the largest market for sneakers. Most sneakers that are bought for use in some sport are bought for running. Women are buying more and more sneakers, but men on average are willing to pay more. 9-3 MARKET SEGMENTATION DEFINITION Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is called: a. consumer differentiation. b. psychographics. c. market segmentation. d. market delineation. e. aggregation marketing. Answer: c Page: 239 Rationale: Key term definition—market segmentation 509
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9-4 MARKET SEGMENTATION DEFINITION Market segmentation involves aggregating prospective buyers into groups that have common needs and will: a. pay attention to marketing messages. b. respond similarly to a marketing action. c. be responsive to marketing research. d. use the same payment methods. e. go shopping on a regular basis. Answer: b Page: 239 Other Locations: W Rationale: Key term definition—market segmentation 9-5 MARKET SEGMENTATION CONCEPTUAL To be identified as a market segment, its members must: a. represent a large share of the entire market and have critical buying power. b. have common needs and respond similarly to market actions. c. have different needs and have potential for future growth. d. have different needs and respond similarly to market actions. e. have potential for future growth and have potential for increased profit or ROI. Answer: b Page: 239 Rationale: An organization develops its segments by aggregating prospective buyers on the basis of common needs and similar response to a marketing action. 9-6 MARKET SEGMENTATION APPLICATION _____ involves aggregating prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marking action.
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