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The first step in market segmentation should be A. Finding

Customer Question

The first step in market segmentation should be:
A. Finding a demographic group likely to use your products.
B. Deciding what new product you could develop.
C. Defining some broad product-markets where you may be able to operate profitably.
D. Evaluating what segment(s) you currently serve.

32) Market segmentation:
A. Is the same thing as positioning.
B. Means the same thing as marketing strategy planning.
C. Tries to identify homogeneous submarkets within a product-market.
D. Assumes that most submarkets can be satisfied by the same marketing mix.

33) Which is the first step in market segmentation?
A. Naming a broad product-market of interest to the firm.
B. Finding one or two demographic characteristics to divide up the whole mass market.
C. Evaluating market segments to determine if they are large enough.
D. Clustering people with similar needs into a market segment.

34) Which of the following is a DEMOGRAPHIC segmenting dimension?
A. Type of problem solving.
B. Rate of use.
C. Family life cycle.
D. Brand familiarity.

35) The product life cycle:
A. Applies more to individual brands than to categories or types of products.
B. Describes the stages a new product idea goes through from beginning to end.
C. Shows that sales and profits tend to move together over time.
D. Has five major stages.

36) Which of the following is NOT one of the text's product life cycle stages?
A. Market introduction
B. Market penetration
C. Market maturity
D. Market growth

37) Regarding product life cycles, which of the following is NOT true?
A. Many close substitutes are usually competing in the market maturity stage.
B. The level of promotion usually decreases in market maturity because there is less revenue to cover the cost.
C. Industry profits are likely to level off or decline before sales level off.
D. It is usually expensive for a new firm to enter in the market maturity stage.

38) An industry's sales have leveled off and profits are declining in oligopolistic competition. Consumers see competing products as homogeneous. Several firms have dropped out of the industry, but a new one entered recently. Firms in the industry are trying to avoid price-cutting by spending on persuasive advertising. These firms are competing in which stage of the product life cycle?
A. Market development
B. Market maturity
C. Market growth
D. Market introduction

39) During the MARKET INTRODUCTION stage of the product life cycle:
A. Much money is spent on Promotion, while spending on Place is left until later.
B. Price and promotion are more important than Place and Product.
C. Large profits are typical—until competition arrives.
D. Money is invested—in the hope of FUTURE profits.
Submitted: 4 years ago.
Category: Homework
Expert:  SuperiorTutor replied 4 years ago.
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