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MKT 3401 Ledet Final Exam
Questions With Solutions
People or organizations with needs or wants and the ability and willingness to buy
- correct-answer - market
A subgroup of people or organizations sharing one or more characteristics that
cause them to have similar product needs - correct-answer - market segment
The process of dividing a market into meaningful, relatively similar, and
identifiable segments or groups - correct-answer - market segmentation
4 basic criteria for a segmentation scheme to be useful - correct-answer - -
substantiality
, 2
-identifiability and measurability
-accessibility
-responsiveness
segment must be large enough to warrant developing and maintaining a special
marketing mix - correct-answer - substantiality
segment must be identifiable and its size measurable - correct-answer -
identifiable and measurable
marketing mix must be reachable to members of targeted segments - correct-
answer - accessibility
segment need not be treated separately unless it respond differently to a
marketing mix - correct-answer - responsiveness
, 3
what are the 5 bases for segmenting CONSUMER markets - correct-answer - -
geography
-demographics
-psychographics
-benefits sought
-usage rate
a principle holding that 20 percent of all customers generate 80 percent of the
demand - correct-answer - 80/20 principle
a marketing approach that views the market as one big market with no individual
segments and thus uses a single marketing mix - correct-answer -
undifferentiated targeting strategy
MKT 3401 Ledet Final Exam
Questions With Solutions
People or organizations with needs or wants and the ability and willingness to buy
- correct-answer - market
A subgroup of people or organizations sharing one or more characteristics that
cause them to have similar product needs - correct-answer - market segment
The process of dividing a market into meaningful, relatively similar, and
identifiable segments or groups - correct-answer - market segmentation
4 basic criteria for a segmentation scheme to be useful - correct-answer - -
substantiality
, 2
-identifiability and measurability
-accessibility
-responsiveness
segment must be large enough to warrant developing and maintaining a special
marketing mix - correct-answer - substantiality
segment must be identifiable and its size measurable - correct-answer -
identifiable and measurable
marketing mix must be reachable to members of targeted segments - correct-
answer - accessibility
segment need not be treated separately unless it respond differently to a
marketing mix - correct-answer - responsiveness
, 3
what are the 5 bases for segmenting CONSUMER markets - correct-answer - -
geography
-demographics
-psychographics
-benefits sought
-usage rate
a principle holding that 20 percent of all customers generate 80 percent of the
demand - correct-answer - 80/20 principle
a marketing approach that views the market as one big market with no individual
segments and thus uses a single marketing mix - correct-answer -
undifferentiated targeting strategy
