With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.

With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group. 

A) single-segment concentration
B) selective specialization
C) product specialization
D) market specialization
E) full market coverage


Answer: D

The chief disadvantage to a firm that decides to follow a product specialization strategy in selecting target markets is that ________.

The chief disadvantage to a firm that decides to follow a product specialization strategy in selecting target markets is that ________. 

A) no synergy exists
B) logistics can become a nightmare
C) the product may be supplanted by an entirely new technology
D) competitors can easily copy any new product introductions
E) e-commerce becomes difficult for the company


Answer: C

When a symphony orchestra targets people who have broad cultural interests, rather than only those who regularly attend concerts, the orchestra is targeting ________.

When a symphony orchestra targets people who have broad cultural interests, rather than only those who regularly attend concerts, the orchestra is targeting ________. 

A) market mavens
B) strategic segments
C) super segments
D) occasion segments
E) socio demographic segments


Answer: C

All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs, a strong market presence, operating economies through specializing in production, distribution, and promotion.

All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs, a strong market presence, operating economies through specializing in production, distribution, and promotion. 

A) single-segment concentration
B) selective specialization
C) product specialization
D) market specialization
E) full market coverage


Answer: A