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c. Social class variables
d. Personality characteristics, motives, and lifestyles
e. Family life cycle, social class, and religion
200. Procter & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter &
Gamble is using a(n) ____ targeting strategy for laundry detergents.
a. multiuse
b. differentiated
c. stratified
d. undifferentiated
e. concentrated
201. The psychographic variable that includes numerous characteristics related to people’s activities, interests, and opinion
is
a. motive
b. social class.
c. personality.
d. stage in family life cycle.
e. lifestyle.
202. Which of the following products is most likely to have its market segment based on age?
a. Nike shoes
b. Lipton Iced Tea
c. Bic pens
d. Legos
e. Carpet
203. Why is it important for marketers to estimate sales potential for the entire industry as well as for the individual
company?
204. Why would a firm survey its sales force to forecast company sales? Why would a firm choose an expert forecasting
survey instead?
205. What are the major steps of the target market selection process?
206. What are the conditions under which an undifferentiated targeting strategy is effective? Why are these conditions
essential?
207. Discuss the difference between sales forecasts and company sales potential. Why is it important for a marketer to be
able to forecast sales?
208. Compare and contrast the concentrated and differentiated targeting strategies of market segmentation.
209. Discuss the differences between the breakdown and buildup approaches to measuring company sales potential. What
are the similarities between these two approaches?
210. How do business markets differ from consumer markets?
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211. Why is it important for marketers to assess competitors before entering a market segment?
212. Discuss the advantages and disadvantages of using executive judgment in forecasting company sales.
213. Identify the four major categories of segmentation of variables for consumer products, and give three examples of
each.
214. Describe the variables used to segment business markets, and provide two examples of each.
215. Describe the three areas marketers should examine when they evaluate relevant market segments.
216. Why do marketers rely heavily on demographic characteristics when segmenting consumer markets?
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Answer Key
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