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Marketing Final Exam

Of individuals sharing one or more characteristics in

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Unformatted text preview: product, and each is highly prized by turkey hunters. It is not unusual for a turkey hunter to pay $5,000 for one of Cost’s callers. 137. Refer to Turkey Hunting Equipment. Wild turkey hunters would be defined as a: a. market segment b. market position c. segmentation base d. retail position e. consumer position ANS: A A market segment is a subgroup of individuals sharing one or more characteristics (in this case love of wild turkey hunting) that cause them to have similar product needs. PTS: 1 REF: 121 Thinking KEY: CB&E Model Customer OBJ: 08-1 TOP: AACSB Reflective MSC: BLOOMS Application 138. Refer to Turkey Hunting Equipment. Given that the wild turkey hunters number approximately 2.7 million, it meets the segmentation criterion of: a. substantiality b. accessibility c. reliability d. responsiveness e. functionality ANS: A The segment is large enough to warrant developing and maintaining it as a special marketing mix. PTS: 1 REF: 122 Thinking KEY: CB&E Model Customer OBJ: 08-3 TOP: AACSB Reflective MSC: BLOOMS Application 139. Refer to Turkey Hunting Equipment. Segmenting a market based on the fact that people who enjoy hunting typically exhibit a particular lifestyle is an example of _____ segmentation. a. benefit b. psychographic c. geographic d. geodemographic e. demographic ANS: B Psychographic segmentation is based on lifestyle as well as personality and motive. PTS: 1 REF: 127 Thinking KEY: CB&E Model Strategy OBJ: 08-4 TOP: AACSB Reflective MSC: BLOOMS Application 140. Refer to Turkey Hunting Equipment. What kind of strategy does Cost use to select his target market? a. Concentrated targeting b. Multisegment c. Mass marketing d. Undifferentiated e. Repositioned ANS: A Neil Cost uses concentrated targeting, which focuses on one segment of the market. PTS: 1 REF: 133 Thinking KEY: CB&E Model Strategy OBJ: 08-7 TOP: AACSB Reflective MSC: BLOOMS Application 141. Refer to Turkey Hunting Equipment. Primos Hunting Calls is another company that manufactures wild turkey callers. It claims each of its callers is able to cluck, shriek, and kee-kee (three sounds that have been known to attract the wild turkey). If you buy one of Cost’s callers, you are limited to one sound. In this way, Primos has implemented a(n) _____ strategy. a. multisegment b. product differentiation c. undifferentiated marketing d. target market e. repositioning ANS: B Product differentiation is used to distinguish one company’s products from those of another. PTS: 1 REF: 135 Thinking KEY: CB&E Model Product OBJ: 08-9 TOP: AACSB Reflective MSC: BLOOMS Application Wrestling Merchandise Market research has shown that 6- to 17-year-old males, 18- to 24-year-old females, and 18- to 44-year-old males are most likely to watch a televised professional wrestling event or attend a live match. Wrestling events are regularly broadcast in 120 different countries. Merchandise licensed by World Wrestling Entertainment (formerly known as the World Wrestling Federation...
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