Marketing MKT 305 Exam 2 Study Guide and Practice Questions
A ________ is a group of potential customers with similar needs who are willing to exchange
something of value with sellers offering various goods or services. - correct answer ✔✔ market
Which of the following is the best example of a generic market? - correct answer ✔✔ the senior
citizen recreation market
A _______ ________ is a relatively homogeneous group of consumers who will respond to a
marketing mix in a similar way. - correct answer ✔✔ market segment
The first step in market segmentation should be: - correct answer ✔✔ defining some broad
product markets where you may be able to operate profitably
Segmenting is best viewed as a(n) ________ process. - correct answer ✔✔ clustering or
aggregating
In thinking about segmenting vs. combining, which of the following are true [Check all that
apply]: - correct answer ✔✔ -segmenting can product larger sales
-it can be risky to combine too much
-profit should determine weather to segment or combine
Which of the following drives positioning? (choose 3) - correct answer ✔✔ -customers
-company
-competitors
In this video, we saw how Mountain Dew developed a ________ to guide marketing mix
decisions. - correct answer ✔✔ positioning statement
A ________ is a group of potential customers with similar needs who are willing to exchange
something of value with sellers offering various goods or services. - correct answer ✔✔ market
Which of the following is the best example of a generic market? - correct answer ✔✔ the senior
citizen recreation market
A _______ ________ is a relatively homogeneous group of consumers who will respond to a
marketing mix in a similar way. - correct answer ✔✔ market segment
The first step in market segmentation should be: - correct answer ✔✔ defining some broad
product markets where you may be able to operate profitably
Segmenting is best viewed as a(n) ________ process. - correct answer ✔✔ clustering or
aggregating
In thinking about segmenting vs. combining, which of the following are true [Check all that
apply]: - correct answer ✔✔ -segmenting can product larger sales
-it can be risky to combine too much
-profit should determine weather to segment or combine
Which of the following drives positioning? (choose 3) - correct answer ✔✔ -customers
-company
-competitors
In this video, we saw how Mountain Dew developed a ________ to guide marketing mix
decisions. - correct answer ✔✔ positioning statement
