Purpose of conducting market segmentation

Assignment Help Marketing Management
Reference no: EM13849600

Question 1: Megan believes the reason the sales of one of her company's products has fallen is due to a price increase. She cites sales from the previous year to the same customers as evidence of declining sales. Megan is:

1. developing a hypothesis.

2. defining a problem.

3. collecting data.

4. creating a research design.

Question 2: Companies should not avoid complaining customers because:

1. companies need to admit the faults in their products or services.

2. in most cases, they are looking for something free and can be easily appeased with a coupon or gift card.

3. complaints handled promptly and effectively could lead to greater customer loyalty.

4. a firm's rank in the JD Power survey could drop.

Question 3: The purpose of conducting market segmentation and market opportunity analysis in the second stage of the market segmentation process is to:

1. design a marketing strategy and tactics to reinforce the firm's image.

2. determine the level of resources that must be committed to each segment.

3. identify the specific members of each segment and contact each of them directly.

4. produce a forecast of market potential within each segment.

Question 4: Marketing research is most likely to be contracted to an outside firm when the:

1. project is being led by in-house personnel with marketing degrees.

2. outside provider has the latest technology.

3. outside provider can do the work at a lower cost than the firm.

4. problem is well-defined and clearly understood.

Question 5: A marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities is called _____ marketing.

1. frequency

2. internal

3. database

4. affinity

Question 6: In the Roper Starch Worldwide study, the largest segment that values professional and material goals more than other groups is the:

1. fun seekers.

2. strivers.

3. altruists.

4. devouts.

Question 7: Landsdown Dairy is planning to introduce a new flavored milk drink. As the marketing manager, you want to appraise the consumer response to this new product. The procedure typically used would be:

1. trend analysis.

2. test markets.

3. a jury of executive opinion.

4. the Delphi technique.

Question 8: An added bonus of electronic data interchange (EDI) is that, in addition to automating the buying process, it has also opened new channels for gathering marketing information.

1. False

2. True

Question 9: Due to its low cost, the controlled experiment is the most commonly used method of collecting data for marketing research.

1. True

2. False

Question 10: Which of the following federal agencies is the most important source of secondary data for marketing research studies?

1. Federal Reserve

2. Bureau of Labor Statistics

3. Treasury Department

4. Census Bureau

Question 11: The nature of a firm's organization structure typically has little or no effect on the provision of quality offerings to its customers.

1. True

2. False

Question 12: A population, used for market research purposes, is a subgroup of the total sample selected for analysis.

1. False

2. True

Question 13: To be effective, market segmentation must meet which of the following basic requirements?

1. The firm must avoid focusing on non-variables, such as profitability and volume.

2. The company must expand beyond its marketing capabilities to capture growing markets.

3. The market segment must have measurable purchasing power and size.

4. The market segment must reflect the population's changing attitudes and lifestyles.

Question 14: All of the following are best utilized as short-run sales forecasting techniques except:

1. the Delphi technique.

2. survey of buyer intentions.

3. sales force composite.

4. jury of executive opinion.

Question 15: _____ marketing is an information-based approach that collects infinite amounts of data that must be mined for specific information about markets and consumers.

1. Frequency

2. Affinity

3. Database

4. Customer service

Question 16: The average lifetime of a customer relationship ultimately depends on the sales representative assigned to handle the account or customer.

1. True

2. False

Question 17: "On the street" interviews conducted by a broadcaster with anyone who passes by are examples of _____ sampling.

1. media

2. convenience

3. cluster

4. stratified

Question 18: The information, analysis, and forecasts accumulated through the entire market segmentation decision process allows management to assess the potential for achieving company goals and to justify committing resources to develop one or more segments.

1. False

2. True

Question 19: Marketers applying a positioning strategy want to:

1. make their product look as much like the market leader as possible.

2. make sure they clearly outline the product's possible applications.

3. emphasize a product's unique advantages and differentiate it from competitors' options.

4. talk to specific, known users of the product.

Question 20: Sales forecasts play a major role in:

1. marketing research.

2. quality control.

3. qualitative techniques.

4. new product decisions.

Question 21: Competitive intelligence is essentially the same thing as business intelligence.

1. True

2. False

Question 22: Douglas Knowles & Howe, a marketing research firm, contracts with clients to conduct complete marketing research projects, including telephone and online interviews. DK&H is a _____ firm.

1. limited service

2. full-service

3. customer service

4. syndicated

Question 23: Observational research has no real benefits in the use of technology to monitor consumers because the consumer cannot be relied on to use the technology correctly.

1. False

2. True

Question 24: Data means nothing unless it can be read somehow. The job of application service providers is to assist marketers in turning the data into meaningful information.

1. False

2. True

Question 25: Internal data collection by marketing researchers is often referred to as situation analysis, while exploratory interviews conducted by informed persons outside the firm are considered informal investigation.

1. True

2. False

Reference no: EM13849600

Questions Cloud

Calculate the force ratio and movement ratio of each jack : Calculate the force ratio and movement ratio of each jack and the pressure within the hydraulic fluid.
Process of qualifying a sales prospect : The criteria for sales evaluations have changed to include customer satisfaction, profit contribution, and customer retention as measures of success. The process of qualifying a sales prospect
Ethical dimension-outsourcing cool : The Apple iPhone 5 is an undeniable success, as were the prior versions. A "game changer," the iPhone has taken the lowly simple cell phone to a whole new level by offering a wide range of features (digital music player, Internet surfing, PDA, e-m..
Computations involving different cost-flow assumptions : Computations Involving Different Cost-Flow Assumptions. Arnold Company's raw material purchases during January, its first month of operations, were as follows.
Purpose of conducting market segmentation : The purpose of conducting market segmentation and market opportunity analysis in the second stage of the market segmentation process is to
Discuss the major steps of the genetic algorithm : Discuss the major steps of the genetic algorithms. Based on your experience and your textbook reading, what are suitable problem areas for the application of genetic algorithms?
Strategic planning for competitive advantage : Strategic Planning for Competitive Advantage
Completion of a research paper : One of the requirements for this course is the completion of a research paper in Unit VIII. A research paper is distinguishable from a report by the inclusion of an original thesis.
Which organization will attempt to resolve the dispute : Assume China and the United States are involved in a trade dispute. Which organization will attempt to resolve the dispute

Reviews

Write a Review

 

Marketing Management Questions & Answers

  Which of the following is not one of the factors that

question a low-cost leader can translate its low-cost advantage over rivals into superior profit performance bya

  Identify the key processes that add value and evaluate the

for this assignment you will choose a company with which you are familiar. you are encouraged to choose a company for

  Identify relevant consumer market trends

Phase 1 strategic opportunity assessment should be written as an executive summary memo to the CEO providing a professional and persuasive topline summary of your strategic assessment. Identify relevant consumer market trends

  Prepare a prototype brochure that contains the components

Develop a brochure to market their graduate degree programs. Develop a prototype brochure that contains the components you feel are important.

  Celebrity spokesperson to promote a good or service

What are some of the advantages and disadvantages of using a celebrity spokesperson to promote a good or service? Present your findings to the class

  Discuss your selected research design for the project

Primary Task Response: Within the Discussion Board area, write 200-300 words that respond to the following questions with your thoughts, ideas, and comments. Discuss your selected research design for the project

  Write about the market segmentation within that industry

Write about the market segmentation within that industry, along with defining and characterizing the target market for the company and the selection process for that target market

  Examine the ceo personal and organizational values

Examine the CEO's personal and organizational values. Evaluate how the values of the CEO are likely to influence ethical behavior within the organization

  Design to create a competitive advantage in the marketplace

Design to create a competitive advantage in the marketplace. What design elements are highlighted in the video that create an experience in which customers want to hang out and stay awhile?

  Justifies your distribution strategies to your board

Create a 7-10 slide presentation with Notes that presents and justifies your distribution strategies to your Board of Directors. Post your PowerPoint presentation.

  Case- summerlin development in las vegas

For this case, the Summerlin development in Las Vegas, Nevada will be used as the basis of your analysis. The objective is to first review the development and then choose a topic that interests you guide your analysis

  Using the waters bottling companyin module 1 continue to

using the waters bottling companyin module 1 continue to build the marketing plan sections for the product you have

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd