QUIZ 3 Ch 9 STP online QUIZ PDF

1 True or False 1 point Demographic factors always represent the best way to segment consumer markets. True False 2 True or False 1 point Psychographic/lifestyle factors always represent the best way to segment consumer markets. True False...

1 True or False 1 point Demographic factors always represent the best way to segment consumer markets. True False 2 True or False 1 point Psychographic/lifestyle factors always represent the best way to segment consumer markets. True False 3 True or False 1 point Psychographic/lifestyle factors always represent the best way to segment B2B/Organizational markets. True False 4 True or False 1 point Psychographic/lifestyle factors are more applicable to the segmentation of consumer markets than with B2B/Organizational markets. True False 5 True or False 1 point The “best” variable to segment a market is the one that most significantly accounts for the heterogeneity of buyer needs, wants, and expectations in the market. True False 6 True or False 1 point Demographic factors that might be used to segment markets include age, income, occupation, marital status, and socioeconomic status. True False 7 True or False 1 point Demographic factors that such as include age, income, occupation, and marital status are more effectively used to segment B2B markets than consumer markets. True False 8 True or False 1 point Markets should be segmented so that potential buyers within each segment have highly DISSIMILAR needs, wants, and expectations. True False 9 True or False 1 point Markets should be segmented so that potential buyers across the various segments have SIMILAR needs, wants, and expectations. True False 10 True or False 1 point Segmentation is necessary because markets tend to be highly heterogenous in terms of buyer needs, wants, and expectations. True False 11 True or False 1 point An initial goal of market segmentation is to break the heterogeneous market into homogeneous segments. True False 12 True or False 1 point Marketers need to produce multiple different product products for members of a market segment that have highly homogenous needs, wants, and expectations for the product. True False 13 True or False 1 point A market is best defined as "A small group of customers that have similar needs, wants, and expectations for a given product." True False 14 True or False 1 point The "target market" for a product is the segment (or segments) of the market that the marketers focuses on with its marketing strategy. True False 15 True or False 1 point Marketers should never target more than one segment of the market. True False 16 True or False 1 point The best segment to target is necessarily the one with the highest sales/revenue potential. True False 17 True or False 1 point Segmentation should occur before targeting. True False 18 True or False 1 point Targeting should take place before positioning. True False 19 True or False 1 point Positioning should be done before market segmentation. True False 20 True or False 1 point The main goal of segmentation is to have members of the target market perceive your product to possess and deliver unique and meaningful benefits to them. True False 21 True or False 1 point The concept of "positioning" suggests that a relatively small number of high usage rate consumers account for a disproportionately large percentage of overall product purchases and consumption of most products. True False 22 True or False 1 point "Customer lifetime value" suggests that customers should be viewed in terms of their potential financial value over the course of the relationship with the marketer (rather than on a one-time transactional basis). True False 23 True or False 1 point “Perceptual maps” are most typically used to position or re-position products. True False 24 True or False 1 point “Perceptual maps” are used mainly to segment markets. True False 25 True or False 1 point Products should never be positioned in “head-to-head” fashion. True False 26 True or False 1 point The highest “customer lifetime value” will be seen with high usage rate customers that are loyal to the marketer for long periods of time. True False 27 True or False 1 point The main goal of POSITIONING is to break the heterogeneous market into homogeneous segments. True False 28 True or False 1 point Positioning statements should be formulated to have members of the target market perceive your product to possess and deliver unique and meaningful benefits to them. True False 29 True or False 1 point When choosing which segments to target, a marketer should carefully consider the cost of reaching, marketing to, and serving the people or organizations in the given segment. True False 30 True or False 1 point High level of competition faced or high cost of serving a large, high usage rate segment of the market might suggest that this segment should not be targeted. True False 31 True or False 1 point Marketers should engage in segmentation and targeting with the goal of "cannibalizing" sales of existing products as much as possible. True False 32 True or False 1 point "Cannibalization" occurs when sales for a new product designed to cater to a new customer segment instead more significantly takes sales away from existing products. True False 33 True or False 1 point The main goal of "positioning" is to convince all members of the market that they have highly similar needs, wants, and expectations. True False 34 True or False 1 point The concept of "customer lifetime value" is highly inconsistent with the practice of relationship marketing. True False 35 True or False 1 point The "80/20 Rule" is closely related to the segmentation variable of "usage rate." True False