84.(p. 241) Todd Harris and Associates, a New York sales promotion agency, discovered from analysis of its files that one-fifth of its clients accounted for more than three-quarters of its fees and commissions. This is an example of what classic concept?a. the law of inverse proportionsBthe 80/20 rulec. the survival of the fittestd. the law of eminent domaine. the primogeniture ruleThe 80/20 rule is a concept that suggests 80 percent of a firm's sales are obtained from 20 percentof its customers.85.(p. 244) In developing a marketing strategy for Hallmark you decide that what it is really sellingis memory keeping, and not photo albums, scrapbooks, and related supplies. This is an example of:86.(p. 244) Determining the size of specific markets using a market-product grid is helpful in determining which target market segments to select and __________.
87.(p. 245) Which of the following is a criterion used for selecting a target segment?88.(p. 244) In developing a marketing strategy for the recently released Nike Air Jordan XVII with a price tag of $200, Nike decided to concentrate on affluent teens rather than members of high school basketball teams. This is an example of:Aselecting target market segments to reach.b. forming products to be sold into groups.c. developing a market-product grid and estimating size of markets.d. taking marketing actions to reach target markets.e. forming prospective buyers into segments.A decision to concentrate on affluent teenagers is the selection of a target market segment.
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- Fall '09