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Segmenting and Targeting Markets 2
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Segmenting and Targeting Markets 2
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25 Questions

1. The first step in segmenting a market is to choose a basis or bases for segmenting the markets.
2. Fisher-Price developed a line of toys for infants in China. Babies make up the market for these products.
3. Product differentiation is a positioning strategy.
4. Marketers are rediscovering that the 'one-size-fits-all' approach to marketing is still relevant.
5. The 80/20 principle implies that the majority of all demand is due to a minority of the customers.
6. Clorox describes individuals who buy lots of cleaning products as heavy users. This is an example of how companies use benefit segmentation.
7. One reason marketers use market segmentation as a tool is that once completed, the process need not be repeated.
8. A product’s position refers to where it is located on store shelves.
9. In market segmentation, individual psychographic variables can be combined with other variables to provide more detailed descriptions of market segments.
10. The slogan used by Apple to promote the iPhone, 'There’s an app for that,' indicates the company relies heavily on benefit segmentation variables.
11. A product’s positioning could be based on product users.
12. Research has shown that most Hispanic Americans are insulted when retailers attempt to serve them in Spanish. Hispanic Americans overwhelmingly prefer to conduct business in English—even if they are bilingual—in order to demonstrate that they are 'true Americans.'
13. Company characteristics, such as geographic location, type of company, company size, and product use, can be important segmentation variables.
14. U.S. paint manufacturers traditionally use different formulae for developing paint to be used in the humid Southeast, the frigid Midwest, and the hot and dry Southwest. This is an example of how demographic segmentation is used.
15. While it is important to understand potential business customers’ buying processes, this is not a helpful segmentation basis.
16. Procter & Gamble markets several different brands of laundry detergent, such as Tide, ERA, Gain, and Dreft, each targeting a different market segment. This is an example of concentrated targeting.
17. The business market consists of four broad segments: producers, resellers, governments, and regions.
18. Until the 1990s, few firms practiced market segmentation.
19. Geodemographic segmentation combines geographic, demographic, and lifestyle segmentations.
20. Increasing share of customer means getting more customers.
21. Markets are always segmented by at least two variables.
22. Small firms often adopt a concentrated marketing strategy to compete effectively with larger firms.
23. Generation Xers account for half of all spending in the United States.
24. In the United States, women tend to be the key household decision-makers for many products, such as home furnishing purchases, vacations, and autos.
25. Dakin Farms in Vermont uses mass marketing. Marketers would call the strategy an undifferentiated targeting strategy.

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