Evaluating different market segments

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Reference no: EM13737690

1. In ________ marketing, the firm operates in several market segments and designs different products for each segment.

segmented

undifferentiated

differentiated

geodemographic

niche

2. In evaluating different market segments, the firm must look at two factors: the segment's overall attractiveness and ________.

company's objectives and resources

the product to be sold

the purchasing process

competition's strategies

the global nature of the product

3. In principle, business buyers seek to ________ in relation a market offering's costs.

spread risks

obtain the highest benefit package

maintain everyday low prices

outsource as much as is possible

eliminate partners' shares in profits as much as possible

4. ________ is composed of all parties who participate in the purchasing decision-making process and share common goals and risks associated with their decisions.

The buying center

The marketing sales team

Strategic management

Engineering support

The logistics center

5. All of the following are methods of assessing customer value EXCEPT ________.

direct survey questions

exit interviewing

focus-group value assessment

conjoint analysis

benchmarks

6. Webster cautions that ultimately, ________ make purchasing decisions.

only senior managers

individuals, not organizations,

organizations, not individuals,

third parties

systems contractors

7. Johnson & Johnson broadened its target market for its baby shampoo to include adults through ________.

countersegmentation

metamarketing

undifferentiated marketing

product specialization

single-segment concentration

8. If a market is segmented according to light, medium, and heavy product users, the marketer segmenting this market is using the ________ as the means to segment.

user status

usage rate

buyer-readiness stage

occasion

benefit

9. When buyers cannot easily monitor supplier performance, the supplier might shirk or cheat and not deliver the expected value. ________ is "some form of cheating or undersupply relative to an implicit or explicit contract."

Institutional sale

Opportunism

Business buying

Vertical integration

Contractual transactionism

10. Many business buyers prefer to buy a total solution to a problem from one seller. ________ is the correct term for this process.
Channel consolidation

Systems buying

Vertical buying

Horizontal buying

Supply buying

11. The total demand for many business goods and services is ________ -that is, not much affected by price changes.

derived

fluctuating

accelerated

multiple

inelastic

12. Business markets differ significantly consumer markets in that business markets possess all of the following characteristics EXCEPT ________.

fewer, larger buyers

close supplier-customer relationship

professional purchasing

inverted demand

multiple sales calls

13. In the proposal solicitation process, ________ should be marketing documents that describe value and benefits in customer terms.

written proposals

oral proposals

e-proposals

alliance proposals

global proposals

14. A company can be said to have used ________ if the company distinguished among customers buying on the basis of price, service, and quality.

macrosegmentation

microsegmentation

strategic segmentation

global segmentation

short-term segmentation

15. ________ is a key industrial marketing strategy in bidding to build large-scale industrial products (e.g., dams, pipelines, et cetera).

Systems contracting

Systems buying

Systems selling

Solutions buying

Turnkey logistics

16. According to the ________ criterion for useful market segments, a segment should be the largest possible homogenous group worth going after with a tailored marketing program.

measurable

substantial

accessible

differentiable

actionable

17. A marketer is interested in segmenting a business market based on technology and customer capabilities. Which of the following major segmentation variables would most likely be used by the marketer to assist with the task?

Demographic variables

Purchasing approaches

Situational factors

Personal characteristics

Operating variables

18. The purchasing department buys office supplies on a routine basis. This type of purchase is classified as a ________.

straight rebuy

modified rebuy

new task

secondary purchase

preordained purchase

19. If a marketing manager observes that his or her market shows no natural segments and consumers seem to have roughly the same preferences, the marketing manager will most likely be faced with a ________ preferences pattern.

homogeneous

heterogeneous

diffused

clustered

scattered

20. Marketers usually identify niches by ________.

dividing a segment into subsegments

conducting VALS tests

allowing consumers to gravitate toward product brands

examining the demographics section of The Handbook of Marketing

producing products that can be used in a variety of ways.

Reference no: EM13737690

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