With respect to the segmentation of businesses, sales force coverage is an example of the attitudes segment.

a. True

b. False

Answer: False

With respect to the segmentation of businesses, ________ is an example of a demographic segment.

a. risk tolerance

b. price sensitivity

c. an account's size

d. a manufacturer

Answer: C

In the marketing context, what does 80:20 mean?

a. 80% of niche marketers give primary importance to the price of a product, while 20% give importance to their customers.

b. 80% of a company's sale comes from 20% of its customers.

c. 80% of a marketplace is segmented, while 20% is untapped.

d. 80% of a company's customers give 20% importance to the product design.

Answer: B

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. True

b. False

Answer: False

In the context of Vals segments, based on people's motivations, self-expression people are guided by knowledge and principles.

a. True

b. False

Answer: False

Vals is a popular tool used in the segmentation of ________ data.

a. arithmetic

b. demographic

c. geographic

d. psychographic

Answer: D

_______ care about new developments in their product category and seek out new products.

a. Market mavens

b. Early adopters

c. Opinion leaders

d. Innovators

Answer: B

Which of the following is an example of a demographic customer segment?

a. Earning potential of customers

b. Awareness of customers

c. Attitudes of women customers

d. Expertise of industrial customers

Answer: A

The goal of heterogeneity in customers' likes or dislikes is more likely to be achieved as the segment size gets smaller.

a. True

b. False

Answer: False

Niche marketing is a type of segmentation in which the company strategically focuses on a smaller market.

a. True

b. False

Answer: True

One-to-one marketing occurs when:

a. the public is educated about a product's pay off.

b. each customer serves as his or her own segment.

c. information about a product is provided to a niche segment.

d. people are segregated into specific groups.

Answer: B

Mass marketing occurs when:

a. a group of services are bundled together.

b. all customers are treated in the same manner.

c. a product is marketed as a large entity.

d. customers are segregated based on their earning potential.

Answer: B

On a continuum from "mass marketing" to "one-to-one marketing," market segmentation is in the middle.

a. True

b. False

Answer: True

A market segment is a:

a. complete customer population at a marketplace.

b. group of industrial customers with variable wants and needs.

c. customer group who share similar inclinations toward a brand.

d. homogenous customer group broken down into groups that are heterogeneous.

Answer: C

Great marketing is an art based on an individual's soft skills and instincts.

Answer: False

The 5Cs, STP, and 4Ps operate interdependently.

Answer: True

With respect to STP in the marketing framework, the positioning process helps a marketer to:

a. evaluate groups of industrial customers who share similar wants and needs.

b. choose a niche group segment from a selected set of industrial customers.

c. analyze the market potential for a product's horizontal diversification.

d. communicate a product's benefits clearly to the intended target customers.

Answer: D

With respect to STP in the marketing framework, which of the following statement distinguishes segmentation from targeting?

a. Segmentation deals with tangible goods, while targeting deals with intangible services.

b. Segmentation identifies the marketing effort required for a macro-environment group, while targeting identifies the marketing effort required for a micro-environment group.

c. Segmentation identifies groups with similar wants or needs, while targeting deals with the marketing efforts required for an identified group.

d. Segmentation identifies the customers and collaborators of a company, while targeting deals with the competitive factors in an industry.

Answer: C

With respect to STP in the marketing framework, the targeting process helps:

a. create an image of the product in the mind of a selected customer.

b. select a group of customers from a set of identified groups.

c. provide additional information about a product to the public.

d. educate customers about a product's benefits and values.

Answer: B

STP stands for segmentation, targeting, and ________.

a. promotion

b. positioning

c. pricing

d. production

Answer: B