MKTG 431: Mini Test 3

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Mini Test 3

One way to segment markets for business customers is by industry type. This approach is attractive because many industries have __________ which makes it cost effective to communicate with businesses in that Industry?

a. Cable television

b. Local newspapers.

c. Regional differences

d. Trade publications

e. Point of purchase displays

d. Trade publications

Which of these statements about Porter's fundamental strategies is true?

Choose one answer.
a. In order to succeed, a company has to differentiate and become the low cost producer.
b. There is only room for one company to differentiate itself in a market.
c. There is only room for one low cost producer in a market.
d. There are three fundamental strategies, demographics, behavioral, and geographic.
e. In order to be the low cost producer, you have to differentiate.

c. There is only room for one low cost producer in a market.

A(n) ______________ targeting strategy utilizes customer information to develop long-term relationships with each customer.

Choose one answer.
a. Pretentious
b. Multisegment
c. Concentrated
d. One-to-one
e. Undifferentiated

d. One-to-one

The VALS system identifies eight consumer segments based on (1) ____________ and (2) _______________?

Choose one answer.
a. Primary motivation, resources
b. Primary motivation, secondary motivation
c. Primary motivation, personality type
d. Psychographic, demographic
e. Psychographic, buying patterns

a. Primary motivation, resources

A(n) ______________ targeting strategy focuses on one specific marketing segment with one marketing mix?

Choose one answer.
a. Concentrated
b. Undifferentiated
c. One-to-one
d. Multisegment
e. Pretentious

a. Concentrated

Which of these statements about Porter's fundamental strategies is true?

Choose one answer.
a. There are three fundamental strategies, demographics, behavioral, and geographic.
b. There is only room for one company to differentiate itself in a market.
c. In order to succeed, a company has to differentiate and become the low cost producer.
d. There is only room for one low cost producer in a market.
e. In order to be the low cost producer, you have to differentiate.

b. There is only room for one company to differentiate itself in a market.

Baking soda is an ingredient in cooking. It also has the property of absorbing odors. The Arm and hammer company found that many people were leaving an open box of baking soda in their refrigerator to absorb food odors. In order to take advantage of this opportunity, they developed a special package with many air vents specifically for use as a refrigerator deodorant. Arm and hammer used ______________ segmentation to develop this product?

Choose one answer.
a. Psychographic.
b. Demographic
c. Business versus consumer
d. Buying situation
e. Geographic.

d. Buying situation

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