Business 530 - Marketing Management » Winter 2023 » Chapter 03 Segmentation

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Question #1
Imperfect competition occurs when:
A.   consumers have unique needs and desires.
B.   the demand is not equal to the supply of goods.
C.   companies indulge in unfair trade practices.
D.   the marketplace is homogeneous.
Question #2
A market segment is a:
A.   group of industrial customers with variable wants and needs.
B.   complete customer population at a marketplace.
C.   customer group whose members share similar inclinations toward a brand.
D.   homogenous customer group broken down into groups that are heterogeneous.
Question #3
On a continuum from "mass marketing" to "one-to-one marketing," market segmentation is in the middle.
A.   False
B.   True
Question #4
Mass marketing occurs when:
A.   a product is marketed as a large entity.
B.   customers are segregated based on their earning potential.
C.   all customers are treated in the same manner.
D.   a group of services are bundled together.
Question #5
One-to-one marketing occurs when:
A.   people are segregated into specific groups.
B.   the public is educated about a product's pay off.
C.   each customer serves as his or her own segment.
D.   information about a product is provided to a niche segment.
Question #6
Niche marketing is a type of segmentation in which the company strategically focuses on a smaller market.
A.   False
B.   True
Question #7
The goal of heterogeneity in customers' likes or dislikes is more likely to be achieved as the segment size gets smaller.
A.   False
B.   True
Question #8
Which of the following is an example of a demographic customer segment?
A.   Attitudes of female customers
B.   Awareness of customers
C.   Expertise of industrial customers
D.   Earning potential of customers
Question #9
_____ care about new developments in their product category and seek out new products.
A.   Early adopters
B.   Market mavens
C.   Innovators
D.   Opinion leaders
Question #10
Vals is a popular tool used in the segmentation of _____ data.
A.   arithmetic
B.   psychographic
C.   geographic
D.   demographic
Question #11
In the context of Vals segments, based on people's motivations, self-expression people are guided by knowledge and principles.
A.   False
B.   True
Question #12
If customers are known for their expertise and involvement in a category, and if they've demonstrated a willingness to share information and give advice, they will be perceived by others as early adopters.
A.   False
B.   True
Question #13
In the marketing context, what does 80:20 mean?
A.   80% of a company's sales come from 20% of its customers.
B.   80% of niche marketers give primary importance to the price of a product, while 20% give importance to their customers.
C.   80% of a company's customers give 20% importance to the product design.
D.   80% of a marketplace is segmented, while 20% is untapped.
Question #14
With respect to the segmentation of businesses, _____ is an example of a demographic segment.
A.   price sensitivity
B.   risk tolerance
C.   an account's size
D.   a manufacturer
Question #15
With respect to the segmentation of businesses, sales force coverage is an example of the attitudes segment.
A.   False
B.   True

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