Marketing Final Exam

Of four broad segments producers resellers government

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Unformatted text preview: duct usage with categories like heavy and light. PTS: 1 REF: 129 Thinking KEY: CB&E Model Strategy OBJ: 08-4 TOP: AACSB Reflective MSC: BLOOMS Application 14. The 80/20 principle implies that the majority of all demand is due to a minority of the customers. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Knowledge REF: 129 OBJ: 08-4 KEY: CB&E Model Customer 15. The business market consists of four broad segments: producers, resellers, government, and regions. ANS: F The four segments are producers, resellers, government, and institutions. PTS: 1 REF: 129 Thinking KEY: CB&E Model Customer OBJ: 08-5 TOP: AACSB Reflective MSC: BLOOMS Knowledge 16. Company characteristics, such as geographic location, type of company, company size, and product use, can be important segmentation variables. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Comprehension REF: 129 OBJ: 08-5 KEY: CB&E Model Customer 17. While it is important to understand potential business customers’ buying processes, this is not a helpful segmentation basis. ANS: F Many business marketers find it helpful to segment customers and prospective customers on the basis of how they buy. PTS: 1 REF: 130 OBJ: 08-5 TOP: AACSB Reflective Thinking KEY: CB&E Model Customer MSC: BLOOMS Comprehension 18. The first step in segmenting a market is to choose a basis or bases for segmenting the markets. ANS: F The first step is to select a market or product category for study. PTS: 1 REF: 131 Thinking KEY: CB&E Model Strategy OBJ: 08-6 TOP: AACSB Reflective MSC: BLOOMS Comprehension 19. One reason marketers use market segmentation as a tool is that once completed, the process need not be repeated. ANS: F Markets are dynamic, so it is important that companies proactively monitor their segmentation strategies over time.. PTS: 1 REF: 131 Thinking KEY: CB&E Model Strategy OBJ: 08-6 TOP: AACSB Reflective MSC: BLOOMS Comprehension 20. Dakin Farms in Vermont uses mass marketing. Marketers would call the strategy an undifferentiated targeting strategy. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Application REF: 131 OBJ: 08-7 KEY: CB&E Model Strategy 21. Niche marketing is a form of concentrated targeting. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Comprehension REF: 133 OBJ: 08-7 KEY: CB&E Model Strategy 22. Procter & Gamble markets six different brands of laundry detergent, such as Tide, Era, Gain, and Dreft, each targeting a different market segment. This is an example of concentrated targeting. ANS: F This illustrates a multisegment targeting strategy. PTS: 1 REF: 134 Thinking KEY: CB&E Model Strategy OBJ: 08-7 TOP: AACSB Reflective MSC: BLOOMS Application 23. Increasing share of customer means getting more customers. ANS: F Increasing share of customer means selling more products to each customer, not getting more customers. PTS: 1 REF: 134 Thinking KEY: CB&E Model Strategy OBJ: 08-8 TOP: AACSB Reflective MSC: BLOOMS Kno...
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This document was uploaded on 09/29/2013.

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