MKTG 3310 EXAM 2 QUESTIONS AND
ANSWERS GRADED A+ 2026
Marketing segments - ANS - The relatively homogenous group of prospective buyers that
result from the market segmentation process
- All marketing is about segmentation
But what does the percentages say about the prevalence of segmentation? - ANS - Very
prevalent to the companies using it
The purpose of segmentation - ANS The purpose would be to target specific markets, in order
to sell products to them; can increase sales and profitability
What is the long tail? - ANS The long tail is the niche products that businesses focus on
What is the long tail enabled by? - ANS Technology
What does this concept mean for marketing? - ANS As technology increases, niche becomes
more obtainable economically
Where does the majority of potential revenue fall, in the head or the tail? - ANS In the tail
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
1
,Segmentation - ANS Involves aggregating prospective buyers into groups that
(1) have common need
(2) will respond similarly to a marketing action
*links market needs to an organizations marketing program through marketing mix program
How prevalent is the idea of segmentation? - ANS Purpose is to identify and target a select
group of customers for a particular product *Very Prevalent
But what does the percentages say about the prevalence of segmentation? - ANS -
Percentages show that while segmentation is a popular marketing strategy, it doesn't appear to
be very successful
- More companies are abandoning the idea
What is the long tail? - ANS Represents a wide array of products with small popularity. They
are generally niche products
What is the long tail enabled by? - ANS Technology, breaking the free constraints of physical
space (internet), finding ways to talk to market segments economically, new distribution,
What does this concept mean for marketing? - ANS This concept means that marketing
should be focused on satisfying the wide array of very particular tastes of the customers in the
"tail" (?)
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
2
, Where does the majority of potential revenue fall, in the head or the tail? - ANS For Amazon,
the majority of revenue came from the long tail and not from the head
What are the five steps to segmenting? - ANS 1. Creating Segments
2. Group Products to be Sold into Categories
3. Develop Marketing Product Grid
4. Select Target Market out of Grid
5. Take Marketing Actions to Reach Target Markets
Creating Segments - ANS - Simplicity and cost effectiveness, potential for increased profit, p.
228 book
- Must have variability
Select Target Market out of Grid - ANS - Market size
- Expected growth
- Competitive position
- Cost of reaching segment
- Compatibility with organizations resources and objectives
- Customer lifetime value
Customer lifetime value - ANS Some market may not be valuable right now but has potential
Geographic - ANS Based on where prospective customers live or work
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
3
ANSWERS GRADED A+ 2026
Marketing segments - ANS - The relatively homogenous group of prospective buyers that
result from the market segmentation process
- All marketing is about segmentation
But what does the percentages say about the prevalence of segmentation? - ANS - Very
prevalent to the companies using it
The purpose of segmentation - ANS The purpose would be to target specific markets, in order
to sell products to them; can increase sales and profitability
What is the long tail? - ANS The long tail is the niche products that businesses focus on
What is the long tail enabled by? - ANS Technology
What does this concept mean for marketing? - ANS As technology increases, niche becomes
more obtainable economically
Where does the majority of potential revenue fall, in the head or the tail? - ANS In the tail
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
1
,Segmentation - ANS Involves aggregating prospective buyers into groups that
(1) have common need
(2) will respond similarly to a marketing action
*links market needs to an organizations marketing program through marketing mix program
How prevalent is the idea of segmentation? - ANS Purpose is to identify and target a select
group of customers for a particular product *Very Prevalent
But what does the percentages say about the prevalence of segmentation? - ANS -
Percentages show that while segmentation is a popular marketing strategy, it doesn't appear to
be very successful
- More companies are abandoning the idea
What is the long tail? - ANS Represents a wide array of products with small popularity. They
are generally niche products
What is the long tail enabled by? - ANS Technology, breaking the free constraints of physical
space (internet), finding ways to talk to market segments economically, new distribution,
What does this concept mean for marketing? - ANS This concept means that marketing
should be focused on satisfying the wide array of very particular tastes of the customers in the
"tail" (?)
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
2
, Where does the majority of potential revenue fall, in the head or the tail? - ANS For Amazon,
the majority of revenue came from the long tail and not from the head
What are the five steps to segmenting? - ANS 1. Creating Segments
2. Group Products to be Sold into Categories
3. Develop Marketing Product Grid
4. Select Target Market out of Grid
5. Take Marketing Actions to Reach Target Markets
Creating Segments - ANS - Simplicity and cost effectiveness, potential for increased profit, p.
228 book
- Must have variability
Select Target Market out of Grid - ANS - Market size
- Expected growth
- Competitive position
- Cost of reaching segment
- Compatibility with organizations resources and objectives
- Customer lifetime value
Customer lifetime value - ANS Some market may not be valuable right now but has potential
Geographic - ANS Based on where prospective customers live or work
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
3
