Marketing Final Exam

Strategy consider many suppliers and analyze their

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: any, finds that the most difficult firms to get business from are the _____, because this group considers numerous and even unfamiliar suppliers, solicits bids, and carefully analyzes options; therefore, it requires a higher levels of customer service. a. actualizers b. strivers c. satisficers d. optimizers e. early adopters ANS: D Firms that use an optimizer purchasing strategy consider many suppliers and analyze their options carefully. PTS: 1 REF: 130 Thinking KEY: CB&E Model Customer OBJ: 08-5 MSC: BLOOMS Application 84. What is the first step in segmenting a market? a. b. c. d. e. TOP: AACSB Reflective Set the segmentation goals Choose a basis or bases for segmenting the market Select a market or product category for study Profile and analyze segments Select target markets ANS: C The steps in segmenting a market are (1) select a market or product category for study; (2) choose a basis or bases for segmenting the market; (3) select segmentation descriptors; (4) profile and analyze segments; (5) select target markets; and (6) design, implement, and maintain appropriate marketing mixes. PTS: 1 REF: 131 Thinking KEY: CB&E Model Strategy OBJ: 08-6 TOP: AACSB Reflective MSC: BLOOMS Comprehension 85. All of the following are steps in the market segmenting process EXCEPT: a. determining the objectives of the segmentation strategy b. profiling and analyzing segments c. designing, implementing, and maintaining appropriate marketing mixes d. selecting a market or product category for study e. choosing a basis or bases for segmenting the market ANS: A The steps in segmenting a market are (1) select a market or product category for study; (2) choose a basis or bases for segmenting the market; (3) select segmentation descriptors; (4) profile and analyze segments; (5) select target markets; and (6) design, implement, and maintain appropriate marketing mixes. PTS: 1 REF: 131 Thinking KEY: CB&E Model Strategy OBJ: 08-6 TOP: AACSB Reflective MSC: BLOOMS Analysis 86. June LaVista owns a health and fitness gym. After dividing her customers into four segments based on income range, age, level of fitness, and other selected segmentation descriptors, she wrote out a description of each segment’s size, expected growth, frequency of exercise, and overall profit potential. Which step in segmenting a market is LaVista engaged in? a. Profiling and analyzing her market segments b. Positioning her products to her market segments Targeting promotions to her market segments Differentiating her market segments Concentrating her marketing mix on the most profitable marketing segments c. d. e. ANS: A The profiling and analysis of the segments step in segmenting a market involves analyzing the segments’ size, expected growth, purchase frequency, and so on. PTS: 1 REF: 131 Thinking KEY: CB&E Model Strategy OBJ: 08-6 TOP: AACSB Reflective MSC: BLOOMS Application 87. After selecting a market for study and choosing bases for segmenting that market, the next step i...
View Full Document

Ask a homework question - tutors are online