Ch 8

Question 1

Characteristics of individuals, groups, or organizations

Answer 1

Segmentation bases (variables)

Question 2

A series of stages determined by a combination of age, marital status, and the presence or absence of children

Answer 2

Family Life Cycle (FLC)

Question 3

Segmenting markets on the basis of personality, motives, and lifestyles

Answer 3

Psychographic Segmentation

Question 4

Dividing a market by the amount of product bought or consumed

Answer 4

Usage-rate segmentation

Question 5

Business customers who place an order with the first familiar supplier to satisfy product and delivery requirements

Answer 5

Satisficers

Question 6

Business customer who consider numerous suppliers (both familiar and unfamiliar) solicit bids, and study all proposals carefully before selecting one

Answer 6

Optimizers

Question 7

A marketing approach that views the market as one big market with no individual segments and thus uses a single marketing mix

Answer 7

Undifferentiated targeting approach

Question 8

A strategy used to select one segment of market for targeting marketing efforts

Answer 8

Concentrated targeting strategy