Business Quiz: Are You Well Familiar With The Aspects Of Marketing?

50 Questions | Total Attempts: 443

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Business Quiz: Are You Well Familiar With The Aspects Of Marketing?

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Questions and Answers
  • 1. 
    When a company identifies the parts of the market it can serve best and most profitably, it is practicing ________.
    • A. 

      Differentiation

    • B. 

      Mass marketing

    • C. 

      Segmenting

    • D. 

      Concentrated marketing

    • E. 

      Market targeting

  • 2. 
    What are the four steps, in order, to designing a customer-driven marketing strategy?
    • A. 

      Positioning, market segmentation, mass marketing, and targeting

    • B. 

      Market recognition, market preference, market targeting, and market insistence

    • C. 

      Market segmentation, targeting, differentiation, and positioning

    • D. 

      Market segmentation, differentiation, positioning, and targeting

    • E. 

      Market alignment, market segmentation, differentiation, and market positioning

  • 3. 
    Through market segmentation, companies divide large, heterogeneous markets into smaller segments that can be reached more ________ with products and services that match their unique needs.
    • A. 

      Convincingly

    • B. 

      Intensely

    • C. 

      Efficiently

    • D. 

      Indirectly

    • E. 

      Sporadically

  • 4. 
    Even though several options are available at any one time, there ________ to segment a market.
    • A. 

      Are limited ways

    • B. 

      Are four ways

    • C. 

      Is no single way

    • D. 

      Is the most effective way

    • E. 

      Is one single best way

  • 5. 
    Your firm has decided to localize its products and services to meet local market demands. A good approach to use would be ________ segmentation.
    • A. 

      Customer

    • B. 

      Image

    • C. 

      C) end-use

    • D. 

      Geographic

    • E. 

      Benefit

  • 6. 
    Pendergraft Pet Supplies divides the pet market according to the owners' race, occupation, income, and family life cycle. What type of segmentation does Pendergraff use?
    • A. 

      Psychographic

    • B. 

      Lifestyle

    • C. 

      Behavioural

    • D. 

      Geographic

    • E. 

      Demographic

  • 7. 
    Through talking to numerous competitors at a regional trade show, you learn that most of them use the most popular base for segmenting markets. What is it?
    • A. 

      Demographic

    • B. 

      Psychographic

    • C. 

      Gender

    • D. 

      Geographic

    • E. 

      Behavioural

  • 8. 
    Demographic variables are so frequently used in market segmentation because they ________.
    • A. 

      Involve fewer attributes to consider than other methods do

    • B. 

      Create more easily reached segments than other methods do

    • C. 

      Do not involve stereotypes

    • D. 

      Create smaller segments than other methods do

    • E. 

      Are easy to measure in comparison to many other methods

  • 9. 
    Marketers must be most careful to guard against which of the following when using age and life cycle segmentation?
    • A. 

      Stereotyping

    • B. 

      Underestimating

    • C. 

      Gender bias

    • D. 

      Cultural bias

    • E. 

      Traditional marketing

  • 10. 
    When Positive Image, Inc., caters to clothing, cosmetics, and toiletries markets, it is most likely using which type of segmentation?
    • A. 

      Age and life cycle

    • B. 

      Behaviour

    • C. 

      Geographic

    • D. 

      Gender

    • E. 

      Psychographic

  • 11. 
    Marketers of automobiles, financial services, and travel are most likely to use which of the following types of segmentation?
    • A. 

      Gender

    • B. 

      Income

    • C. 

      Benefits sought

    • D. 

      Usage rate

    • E. 

      Occasion

  • 12. 
    The division of buyers into groups based on their knowledge, attitudes, uses, or responses to a product is ________ segmentation.
    • A. 

      Age and life cycle

    • B. 

      Demographic

    • C. 

      Behavioural

    • D. 

      Geographic

    • E. 

      Psychographic

  • 13. 
    Many marketers believe that which of the following variables is the best starting point for building marketing segments?
    • A. 

      Beneficial

    • B. 

      Behavioural

    • C. 

      Family size

    • D. 

      Age

    • E. 

      Gender

  • 14. 
    Which type of segmentation centers on the use of the word when, such as when consumers get the idea to buy, when they actually make their purchase, or when they use the purchased item?
    • A. 

      Emergency

    • B. 

      Psychographic

    • C. 

      Behavioural

    • D. 

      Occasion

    • E. 

      Impulse

  • 15. 
    Markets can be segmented into groups of nonusers, ex-users, potential users, first-time users, and regular users of a product. This method of segmentation is called ________.
    • A. 

      Loyalty status

    • B. 

      User status

    • C. 

      Benefit

    • D. 

      Behaviour

    • E. 

      Usage rates

  • 16. 
    Consumers can show their allegiance to brands, stores, or companies. Marketers can use this information to segment consumers by ________.
    • A. 

      Store type

    • B. 

      Loyalty status

    • C. 

      Usage rate

    • D. 

      Brand preference

    • E. 

      User status

  • 17. 
    By studying its less loyal buyers, a company can detect which brands are most ________ its own.
    • A. 

      Similar to

    • B. 

      Used with

    • C. 

      Competitive with

    • D. 

      Complementary to

    • E. 

      Overlooked with

  • 18. 
    Many firms make an effort to identify smaller, better-defined target groups by using ________.
    • A. 

      Multiple segmentation bases

    • B. 

      Positioning

    • C. 

      Loyalty segmentation

    • D. 

      Mass marketing

    • E. 

      User rates

  • 19. 
    Consumer and business marketers use many of the same variables to segment markets. Business marketers use all of the following EXCEPT ________.
    • A. 

      Situational factors

    • B. 

      Purchasing approaches

    • C. 

      Personal characteristics

    • D. 

      Operating characteristics

    • E. 

      Educational status

  • 20. 
    As in consumer segmentation, many marketers believe that ________ and ________ segmentation provide the best basis for segmenting business markets.
    • A. 

      Geographic; demographic

    • B. 

      Age and life-cycle; psychographic

    • C. 

      User status; user loyalty

    • D. 

      Benefits; buying behavior

    • E. 

      Income; usage rate

  • 21. 
    International Drilling Company segments its foreign markets by their overall level of economic development. This firm segments on what basis?
    • A. 

      Legal factors

    • B. 

      Political factors

    • C. 

      Economic factors

    • D. 

      Cultural factors

    • E. 

      Geographic factors

  • 22. 
    Lexus targets wealthy consumers with similar needs and buying behaviours, even though the consumers are located in different countries. This is an example of ________.
    • A. 

      A) psychographic segmentation

    • B. 

      B) intermarket segmentation

    • C. 

      C) loyalty segmentation

    • D. 

      D) targeting segmentation

    • E. 

      E) life-cycle segmentation

  • 23. 
    When the size, purchasing power, and profiles of a market segment can be determined, it possesses the requirement of being ________.
    • A. 

      A) substantial

    • B. 

      B) actionable

    • C. 

      C) observable

    • D. 

      D) accessible

    • E. 

      E) measurable

  • 24. 
    When a business market segment is large or profitable enough to serve, it is termed ________.
    • A. 

      A) substantial

    • B. 

      B) accessible

    • C. 

      C) measurable

    • D. 

      D) actionable

    • E. 

      E) differentiable

  • 25. 
    When an effective program can be designed for attracting and serving a chosen segment, the segment is best described as ________.
    • A. 

      A) accessible

    • B. 

      B) actionable

    • C. 

      C) reachable

    • D. 

      D) differentiable

    • E. 

      E) measurable

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