Marketing Final Exam

Women with average annual household income of 60000

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Unformatted text preview: x intended to meet the needs of that group. PTS: 1 REF: 131 Thinking KEY: CB&E Model Customer OBJ: 08-7 TOP: AACSB Reflective MSC: BLOOMS Application 92. Sure Fit, Inc. has begun a rebranding strategy to let customers know it no longer only produces slipcovers but now also carries a line of rugs, window treatments, and bedding. Its _____ is described as women with average annual household income of $60,000 or more. a. market audience b. market differentiation c. perceived market d. target market e. aggregated market ANS: D A target market is a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group. PTS: 1 REF: 131 Thinking KEY: CB&E Model Customer OBJ: 08-7 TOP: AACSB Reflective MSC: BLOOMS Application 93. Which target marketing strategy views the market as one big market with no individual segments and thus uses a single marketing mix? a. Undifferentiated b. Concentrated c. Niche d. Uniform e. Multisegmented ANS: A A firm using an undifferentiated targeting strategy essentially adopts a mass-market philosophy, viewing the market as one big market with no individual segments. PTS: 1 REF: 131-132 Thinking KEY: CB&E Model Strategy OBJ: 08-7 TOP: AACSB Reflective MSC: BLOOMS Knowledge 94. Candace Popwell makes and markets Festive Holiday Truffles candy. The confectionary company owner views the world as one big market with no individual segments and tries to reach it with only one marketing mix. Her essentially mass-market philosophy indicates she probably uses a(n) _____ strategy. a. multisegment targeting b. universal product c. concentrated targeting d. undifferentiated targeting e. product differentiation ANS: D With an undifferentiated targeting strategy, the market is viewed as one big market with no individual segments and uses a single marketing mix. PTS: 1 REF: 131-132 Thinking KEY: CB&E Model Strategy OBJ: 08-7 TOP: AACSB Reflective MSC: BLOOMS Application 95. When Henry Ford made the Model T, he said that consumers “can have their car in any color they want, as long as it’s black.” This was a case of: a. repositioning b. reengineering c. one-to-one marketing d. undifferentiated targeting e. niche marketing ANS: D An undifferentiated targeting strategy views the market as a whole without individual segments and uses a single marketing mix. PTS: 1 REF: 132 Thinking KEY: CB&E Model Strategy OBJ: 08-7 TOP: AACSB Reflective MSC: BLOOMS Application 96. All of the following are advantages of using a concentrated targeting strategy EXCEPT: a. concentration of resources b. can better meet the needs of a narrowly defined segment c. allows some small firms to better compete with larger firms d. strong positioning e. cannibalization ANS: E Cannibalization is a disadvantage of multisegment targeting. See Exhibit 8.2. PTS: 1 REF: 132 Thinking KEY: CB&E Model Strategy OBJ: 08-7 TOP: AACSB Reflective MSC: BLOOMS Analysis 97. A(n) _____ strat...
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