FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 4: Targeting

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 41

True/False

Review LaterAdd Note

Review Later

Some customer segments are high maintenance and not worth serving.

Correct Answer

verified

Show Answer

Question 42

True/False

Review LaterAdd Note

Review Later

Company XYZ has examined several customer segments in order to determine which segments best align with the firm's strengths and the attractiveness of the market opportunity. This analysis enables the firm to select which customer segment to target.

Correct Answer

verified

Show Answer

Question 43

Multiple Choice

Review LaterAdd Note

The more precisely defined the target market is, the the numbers are to estimate.

Opportunities are .

If a market segment looks attractive, and serving that segment fits our corporate abilities, then we should .

Company XYZ is working on a marketing strategy for a new oral hygiene product and just discovered that XYZ's biggest competitor is launching a similar, but better tasting, product with more dental health benefits. The competitor's product should be considered a threat in Company XYZ's SWOT analysis.

A firm's ability to satisfy the needs of a segment impacts the decision as to whether or not to target a specific segment.

Your company is great at producing a certain product, but the market doesn't look so great right now. This scenario is consistent with the lower-left quadrant in a SWOT analysis.

There are two perspectives in assessing the attractiveness of each segment in terms of its potential for our targeting, and it is extremely important to consider only one of these.

In conducting a SWOT analysis, marketers are likely to collect some market research data on customers, such as perceptual maps and information about product lines.

Company XYZ is working on a marketing strategy for a new oral hygiene product and just discovered that XYZ's biggest competitor is launching a very similar product a month later. In conducting a SWOT analysis, the launch of the competitor's product represents an opportunity.

Based on this chart, which segment can we pass up with fewest regrets?

If a market looks attractive, but a firm is not particularly skilled in the market, a key question is whether the firm can develop sufficient .

If the market doesn't look so great, but we are awesome in creating products of this sort, the key question is whether we can develop a market. Which of the following would we NOT need to invest in for this strategy?

Company ABC is in the process of sizing the market for its new web-based service that allows consumers to be matched with local attorneys specializing in the area of law pertaining to the consumer's need. The marketing team is trying to estimate the purchase decision-making process with respect to how likely it is that visitors to the site will hire an attorney identified by Company ABC. In estimating the purchase decision-making process, the marketing team should consider the elements of .

Potential profitability is a function of the current market size, its anticipated growth, current and anticipated levels of competition, and customer behavior and expectations.

A lot of estimates go into final calculations of market size, so each component needs to be as precise as possible so any errors in the estimation are NOT .

Most markets are comprised of customers whose tastes are very similar.

When it comes to market sizing, things tend to be a bit B2B sellers compared to B2C sellers.

The Murphy Company is determining which segment(s) to target for its new professional resume writing service. In making this determination, the company should consider quantitative factors such as the size of the segment, profitability, and growth.