To be effective, market segmentation must meet which of the following basic requirements?

• Question 1

2 out of 2 points

	To be effective, market segmentation must meet which of the following basic requirements?
	Selected Answer: 3. The market segment must have measurable purchasing power and size.

• Question 2

2 out of 2 points

	Sales forecasts play a major role in:
	Selected Answer: 3. new product decisions.

• Question 3

2 out of 2 points

	Competitive intelligence is essentially the same thing as business intelligence.
	Selected Answer: 2. False

• Question 4

2 out of 2 points

	Marketers applying a positioning strategy want to:
	Selected Answer: 1. emphasize a product’s unique advantages and differentiate it from competitors’ options.

• Question 5

2 out of 2 points

	“On the street” interviews conducted by a broadcaster with anyone who passes by are examples of _____ sampling.
	Selected Answer: 1. convenience

• Question 6

2 out of 2 points

	Marketing research is most likely to be contracted to an outside firm when the:
	Selected Answer: 4. outside provider can do the work at a lower cost than the firm.

• Question 7

2 out of 2 points

	Observational research has no real benefits in the use of technology to monitor consumers because the consumer cannot be relied on to use the technology correctly.
	Selected Answer: 1. False

• Question 8

2 out of 2 points

	Data means nothing unless it can be read somehow. The job of application service providers is to assist marketers in turning the data into meaningful information.
	Selected Answer: 1. True

• Question 9

2 out of 2 points

	In the Roper Starch Worldwide study, the largest segment that values professional and material goals more than other groups is the:
	Selected Answer: 3. strivers.

• Question 10

2 out of 2 points

	All of the following are best utilized as short-run sales forecasting techniques except:
	Selected Answer: 2. the Delphi technique.

• Question 11

2 out of 2 points

	The average lifetime of a customer relationship ultimately depends on the sales representative assigned to handle the account or customer.
	Selected Answer: 1. False

• Question 12

2 out of 2 points

	Megan believes the reason the sales of one of her company’s products has fallen is due to a price increase. She cites sales from the previous year to the same customers as evidence of declining sales. Megan is:
	Selected Answer: 1. developing a hypothesis.

• Question 13

0 out of 2 points

	An added bonus of electronic data interchange (EDI) is that, in addition to automating the buying process, it has also opened new channels for gathering marketing information.
	Selected Answer: 1. False

• Question 14

2 out of 2 points

	A marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities is called _____ marketing.
	Selected Answer: 4. affinity

• Question 15

2 out of 2 points

	The purpose of conducting market segmentation and market opportunity analysis in the second stage of the market segmentation process is to:
	Selected Answer: 4. produce a forecast of market potential within each segment.

• Question 16

2 out of 2 points

	A population, used for market research purposes, is a subgroup of the total sample selected for analysis.
	Selected Answer: 2. False

• Question 17

2 out of 2 points

	Internal data collection by marketing researchers is often referred to as situation analysis, while exploratory interviews conducted by informed persons outside the firm are considered informal investigation.
	Selected Answer: 2. True

• Question 18

0 out of 2 points

	Due to its low cost, the controlled experiment is the most commonly used method of collecting data for marketing research.
	Selected Answer: 2. True

• Question 19

2 out of 2 points

	Douglas Knowles & Howe, a marketing research firm, contracts with clients to conduct complete marketing research projects, including telephone and online interviews. DK&H is a _____ firm.
	Selected Answer: 1. full-service

• Question 20

2 out of 2 points

	Landsdown Dairy is planning to introduce a new flavored milk drink. As the marketing manager, you want to appraise the consumer response to this new product. The procedure typically used would be:
	Selected Answer: 2. test markets.

• Question 21

2 out of 2 points

	The information, analysis, and forecasts accumulated through the entire market segmentation decision process allows management to assess the potential for achieving company goals and to justify committing resources to develop one or more segments.
	Selected Answer: 2. True

• Question 22

2 out of 2 points

	Which of the following federal agencies is the most important source of secondary data for marketing research studies?
	Selected Answer: 3. Census Bureau

• Question 23

2 out of 2 points

	Companies should not avoid complaining customers because:
	Selected Answer: 2. complaints handled promptly and effectively could lead to greater customer loyalty.

• Question 24

0 out of 2 points

	The nature of a firm’s organization structure typically has little or no effect on the provision of quality offerings to its customers.
	Selected Answer: 2. True

• Question 25

2 out of 2 points

	_____ marketing is an information-based approach that collects infinite amounts of data that must be mined for specific information about markets and consumers.
	Selected Answer: 1. Database