MKTG Chapter 4 Flashcards
Which of the following describes a generic market instead of a product market?
Sports enthusiast market
A basic difference between a “generic market” and a “product-market” is:
how similar the competing sellers’ products are.
Which of the following is not a homogeneous target market within the broad product market of recreational boat users:
water sports market.
The first step in market segmentation should be:
defining some broad product-markets where you may be able to operate profitably.
What is the trade-off for a “combiner” who seeks to offer one marketing mix to two or more submarkets at the same time?
The combined target market is larger than the individual segments alone, but marketing mix not as effective at meeting specific needs
Electro Technologies, Inc. (ETI) has limited capital and wants to reduce the risk of competitors taking customers if it invests in a new product-market. Its broad product-market consists of three reasonably distinct submarkets. To identify a target market, ETI should probably focus on using the _____ approach.
single target market
Which consumer-market dimension would be the most useful for a firm considering an opportunity in the hair salon and spa market?
Sex (demographic)
When major airlines target business travelers because they travel often and typically pay at least three times the price for a ticket as leisure travelers, these airlines are segmenting the market primarily on:
rate of use.
When using the best practice approach for segmenting markets, which of the following is not true.
Estimating the size of each product-market segment comes before naming possible product-markets.
Sometimes marketing managers use a positioning statement to provide focus for a marketing mix. Which of the following is not included in a positioning statement?
List of competitors’ strengths
