Marketing Final Exam

Suggest it is time for market segmentation because a

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Unformatted text preview: REF: 122 Thinking KEY: CB&E Model Strategy OBJ: 08-1 TOP: AACSB Reflective MSC: BLOOMS Comprehension 9. Home Cookin’ Catering would like to improve customer satisfaction and increase repeat business. When you ask the owners to describe a typical customer, they say it is impossible and explain that with corporate functions, family affairs, and fund-raisers, they do not have a typical customer. You suggest it is time for market segmentation because: a. it will enable them to build an accurate description of customer needs by group and to design a marketing mix to fit each segment the company needs to reduce the size of the market it serves the company needs to learn how to group these markets together into one market to serve all of them adequately it will help develop a generalized definition of the market as a whole and reveal the optimal marketing mix for this market this will position the company in the minds of its consumers as compared to its competitors b. c. d. e. ANS: A The purpose of segmentation is to group similar consumers and to serve their needs with a specialized marketing mix. PTS: 1 REF: 122 Thinking KEY: CB&E Model Customer OBJ: 08-1 TOP: AACSB Reflective MSC: BLOOMS Application 10. Market segmentation can assist marketers to do all of the following EXCEPT: a. develop more precise definitions of customer needs and wants b. identify which variable base should be used for segmenting c. more accurately define marketing objectives d. improve resource allocation e. evaluate performance ANS: B Market segmentation itself does not signal which base should be used, but it will define needs and wants, as well as help marketers define marketing objectives, improve resource allocation, and evaluate performance. PTS: 1 REF: 122 Thinking KEY: CB&E Model Strategy OBJ: 08-2 TOP: AACSB Reflective MSC: BLOOMS Analysis 11. All of the following are criteria for successful market segmentation EXCEPT: a. substantiality b. identifiability and measurability c. accountability d. accessibility e. responsiveness ANS: C The four criteria are substantiality, identifiability and measurability, accessibility, and responsiveness. PTS: 1 REF: 122 OBJ: 08-3 TOP: AACSB Reflective Thinking KEY: CB&E Model Strategy MSC: BLOOMS Analysis 12. To be useful, a segmentation scheme must produce segments that meet four basic criteria. The criteria are: a. segmentability, targetability, reliability and validity, and homogeneity b. tangibility, inseparability, nonperishability, and uniqueness c. substantiality, identifiability and measurability, accessibility, and responsiveness d. reliability, flexibility, tangibility, and unbiased e. complexity, compatability, relative advantage, trialability, and observability ANS: C Useful segments should be substantial, identifiable and measurable, accessible, and responsive to different marketing mixes. PTS: 1 REF: 122 Thinking KEY: CB&E Model Strategy OBJ: 08-3 TOP: AACSB Reflective MSC: BLOOMS Analysis 13. A manufacturer of lenses used i...
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This document was uploaded on 09/29/2013.

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