MKTG 409 Chapter 5 MindTap Study Guide – Consumer Behavior, Decision Making &
Influences Review
A consumer market _______. - ANS ✔✔Consists of purchasers and household members who
intend to consume or benefit from the purchased products and do not buy products to make a
profit or serve an organizational need
A market must have which of the following characteristics? (Select three)
- People or organizations
- The ability and willingness to buy
- Unique demands
- Needs and wants - ANS ✔✔- People or organizations
- The ability and willingness to buy
- Needs and wants
The first of two major components of developing a marketing strategy is to _______. - ANS
✔✔Select a target market
The first step in the target market selection process is to - ANS ✔✔Identify the appropriate
targeting strategy
Which of the following is the fourth step of the target market selection process? - ANS
✔✔Evaluate relevant market segments
When a company uses a single marketing mix to target all customers, it is utilizing _______. -
ANS ✔✔undifferentiated targeting
, An advantage of the _______ strategy is that it allows a firm to specialize. - ANS
✔✔concentrated targeting
When a company targets several different market segments and creates a different marketing
mix for each segment, they are using _______. - ANS ✔✔differentiated targeting
Which of the following is a market composed of individuals or organizations with diverse
product needs? - ANS ✔✔Heterogeneous market
A market segment that has enough profit potential to justify developing and maintaining a
special marketing mix is said to be _______. - ANS ✔✔profitable
A market segment is _______ if marketers can reach members of the segment with customized
marketing mixes. - ANS ✔✔accessible
A market segment profile describes the _______ among potential customers within a segment
and explains the _______ among people and organizations in different segments. - ANS
✔✔similarities
differences
Marketers use market segment profiles to assess the degree to which their products fit
potential customers' _______. - ANS ✔✔product needs
The characteristics of consumers and organizations that marketers use to divide a market into
segments are known as _______. - ANS ✔✔segmentation variables
Carrying different recreation products in stores in different zip codes based on lifestyles and
demographics is which geographic variable? - ANS ✔✔Geodemographic segmentation
Influences Review
A consumer market _______. - ANS ✔✔Consists of purchasers and household members who
intend to consume or benefit from the purchased products and do not buy products to make a
profit or serve an organizational need
A market must have which of the following characteristics? (Select three)
- People or organizations
- The ability and willingness to buy
- Unique demands
- Needs and wants - ANS ✔✔- People or organizations
- The ability and willingness to buy
- Needs and wants
The first of two major components of developing a marketing strategy is to _______. - ANS
✔✔Select a target market
The first step in the target market selection process is to - ANS ✔✔Identify the appropriate
targeting strategy
Which of the following is the fourth step of the target market selection process? - ANS
✔✔Evaluate relevant market segments
When a company uses a single marketing mix to target all customers, it is utilizing _______. -
ANS ✔✔undifferentiated targeting
, An advantage of the _______ strategy is that it allows a firm to specialize. - ANS
✔✔concentrated targeting
When a company targets several different market segments and creates a different marketing
mix for each segment, they are using _______. - ANS ✔✔differentiated targeting
Which of the following is a market composed of individuals or organizations with diverse
product needs? - ANS ✔✔Heterogeneous market
A market segment that has enough profit potential to justify developing and maintaining a
special marketing mix is said to be _______. - ANS ✔✔profitable
A market segment is _______ if marketers can reach members of the segment with customized
marketing mixes. - ANS ✔✔accessible
A market segment profile describes the _______ among potential customers within a segment
and explains the _______ among people and organizations in different segments. - ANS
✔✔similarities
differences
Marketers use market segment profiles to assess the degree to which their products fit
potential customers' _______. - ANS ✔✔product needs
The characteristics of consumers and organizations that marketers use to divide a market into
segments are known as _______. - ANS ✔✔segmentation variables
Carrying different recreation products in stores in different zip codes based on lifestyles and
demographics is which geographic variable? - ANS ✔✔Geodemographic segmentation
