A widely used system for classifying individuals on the basis of lifestyle is. Why would a company use the undifferentiated strategy? Volkswagen markets its Routan to large families, its R32 race car to men, and its Jetta to young singles. The psychographic variable that includes numerous characteristics related to people's activities, interests, and opinion is, If a company segments its market on the basis of their reasons for purchasing a particular product, the primary segmentation variable in use is. Tiffany's uses a(n) ______ strategy. This information is used to aid, Justin Franklin's company is interested in locating areas where the average income is high, the average age range is 25-35 years, and the lifestyles of the people involve extreme adventures and dangerous leisure activities. To find a target market, a firm can use the, e) undifferentiated strategy, the concentrated strategy, and the differentiated. The primary business segmentation variable in this example is, After an organization has determined which of the many segmentation variables it will use, the next step in the target market selection process is. Consumers that do not own dogs are not likely to be in the market for dog food because. When marketing research shows that a group of people does not desire a particular product, the people in that group, The first step in the target market selection process is. A) reseller B) supplier C) wholesaler D) retailer's creditor E) go... An attractive idea must be developed into a ________. These conditions include all of the following except. In an effort to forecast his firm's sales for the coming year, Henry Thompson takes sales for the last three years and calculates a growth trend. The primary advantage of a concentrated targeting strategy is. c) people within the market have heterogeneous needs. Systems such as PRIZM and Acorn provide companies with lifestyle and demographic information about neighborhoods throughout the United States. Retail-site location analyses, unique product offerings, and special advertising campaigns are all examples of the use of. Target market selection is a key part of marketing strategy and typically involves significant analysis, discussion and review throughout the firm. An attractive idea must be developed into a ________. These 30 million pairs represent the company's, The amount of product a company expects to sell during a specific period at a specified level of marketing activity is called the, All of the following are categories of common forecasting techniques for business except, Relying on executive judgment for forecasting may be adequate when. The marketing control process consists of. Which of the following products is least likely to be segmented according to stages in the family life cycle? Which of the following is an example of a behavioristic segmentation variable? c. choose all segments that are determined to be profitable for the organization. Tiffany's markets its exclusive jewelry and gifts to high-income individuals interested in high quality products and a well-known brand name. Which of the following is NOT a typical supply chain member? Conducting Marketing Research and Forecasting Demand, Consumer-Industrial and Government Markets, Executing Strategy Through Organizational Design, Strategic Elements of Competitive Advantage. Guess? This manager is using a _________ approach to estimating sales potential. The Sara Lee Company is attempting to forecast sales for a new ice cream cake. Many marketers are concerned about the number of potential customers within a certain area of land because of the different requirements to serve dissimilar areas. _______ are visual representations of consumer perceptions and preferences. The forecasting techniques that assume past sales patterns will continue into the future are all variations of, A forecasting method that predicts sales based on relationships between past sales and other variables is called. b) product positioning is the customer's absolute perception of a product's attributes. b) divide a total market to enable a marketer to develop a more precise marketing mix. The process of selecting one or more market segments to enter is called ________. Intermediaries play an important role in matching ________. B. describe potential opportunities for mass-optimization. The selection of a target market is a very important decision for a firm as it then requires significant effort and commitment to implement an appropriate and targeted marketing mix. b) A large number of people or organizations, In order to be considered a market, people do not have to have. The division of a market according to what benefits consumers want from the product is called ______ segmentation. This figure represents the industry's, If Baskin-Robbins calculates that it could sell up to 25 percent of all ice cream cones sold in the United States, this percentage would represent the ice cream marketer's, Using the breakdown approach to sales potential, estimates are made. What is the main problem with using a market test as a forecasting tool? It uses the same marketing mix to reach this market. b) it allows a firm to specialize to meet specific customer needs. c) they would not have the ability to purchase such products. This is an example of market segmentation based on. In this instance, Toyota has found its markets to be, Individuals, groups, or organizations with one or more similar characteristics that cause them to have similar product needs are classified as, Mattel views the toy market as composed of four age groupings, each with different needs and desires. In this instance, Sara Lee is using which forecasting method? All of the following statements about product positioning are true except. Which of the following is not one of the major categories of consumer market segmentation variables? A) market targeting B) market dominance C) market p... After concept testing, a firm would engage in which stage in developing and marketing a new product? Which of the following is NOT a typical supply chain member? d) use a positively viewed characteristic they assume much of their target market has or would like to have. This is because those buyers are likely to want or need a company’s offerings. Using this forecast, he determines the effect on the industry's market potential and then estimates how his company's potential sales will look based on this outlook. D. match the firm's competencies with a market segment's attractiveness. Which of the following sales forecasting techniques would generally be most suitable for estimating sales of a new product? Each of these groups are known as. When selecting specific target markets, a firm should a) revert to an undifferentiated approach if the market is deemed heterogeneous. Which of the following statements about the undifferentiated targeting strategy is false? Family life cycle is most typically based on. C. evaluate the geographic constraints to psychographic segmentation. To come up with an accurate forecast, Sara Lee places the product in Atlanta supermarkets for a period of four months. A target market is a group of consumers or organizations most likely to buy a company’s products or services. Cosmopolitan magazine, Secret deodorant, and Eve cigarettes are all products whose marketers have used segmentation based on, A marketer that targets customers based on marital status and the presence and age of children is using. c) The needs of individual consumers in the target market for a specific product, When the needs of individual consumers in a target market for a specific product are similar and the organization can satisfy most customers with a single marketing mix, the best approach to use may be the ___________ strategy. He is using a, The buildup approach measure of sales potential, c) starts with forecasts about demand for a specific product within a relatively, When evaluating market segments, assessment of competitors is important because, c) sales estimates may cause a segment to appear to be lucrative, but there may, Estimating the cost of entering a market and focusing on a specific target segment is important because, d) the organization's marketers need to know if they can reach the segment at, The final step in the target market selection process is, Frito-Lay Snack Foods is currently conducting market segmentation studies. c) choose all segments that are determined to be profitable for the organization. Miller Brewing does not consider teenagers to be a part of the beer market because they lack the ___________ to buy beer. His company would most likely find possible markets through. Which of the following is NOT an area of responsibility for a logistics manager? C. develop a strong communication plan. b) choose the segments most in line with the firm's objectives and long-term growth.