27. The purpose of market segmentation is to: a. change consumer attitudes and b
ID: 417295 • Letter: 2
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27. The purpose of market segmentation is to: a. change consumer attitudes and beliefs toward a product b. divide a market into submarkets of equal size that have equal number of customers in each. c. group a large number of markets together, enabling a company to serve them simultaneously. Denable a marketer to tailor marketing mixes to meet the needs of one or more specifie segments. 28. Which of the following is a difference between component parts and supplies? Component parts require extensive processing before they become part of another product, while supplies do not. Component parts are consumable items, while supplies are finished items. a. b. c. Component parts become part of a final product, while supplies do not. d. C mponent parts are inexpensive when compared to other business products, while supplies are ex 29. Which of the following is an advantage of primary data? It incurs less cost than secondary data to collect relevant information. a. It answers specific research questions that secondary data cannot answer. c. It consists of data that is easily available to any interested party id interviewer biases in the process of collecting necessary data. 30. Why do marketers who spend significant time promoting mass-marketing efforts need to be aware of customer d. It helps avoi relationship management (CRM)? a. One-size-fits-all marketing is no longer relevant because consumers want to be treated as the individuals they are. The time that consumers spend on making purchase decisions have risen in recent times. Mass-media approaches to marketing will rise in importance as technology allows marketers to collect b· c. detailed information. The importance of rewarding individual consumers for their loyalty has declined in the recent years. d. 31. The publisher of a business magazine wants to make several major chinges in the magazine's content and format. Which of the following will enable the publisher to understand the changes that will most likely be welcomed by its readers? a. Product differentiation b. Cannibalization c. Marketing research d. Planned obsolescence -32. Unlike traditional surveys. Internet surveys: a. can be targeted at a specific group of people. b. take a considerable amount of time and effort on the part of the respondents c incur training, telecommunications, and management costs. d. can be personalized for greater relevance to each respondent. -33. In a buying center, gatekeepers are the people who: a. actually use a product. b. influence a buying decision. c. regulate the flow of information. d. negotiate a purchase.Explanation / Answer
27. d. enable a marketer to tailor marketing mixes to meet the needs of one or more specific segments.
Market segmentation is the process of segmenting market into meaningful, identifiable and similar groups and address their similar needs by specific marketing mix.
28. c. Component parts become part of a final product, while supplies do not.
29. b. It answers specific research questions that secondary data cannot answer.
Primary data is directly collected by the research, rather than from secondary sources. Therefore, it provides the most specific and relevant information pertinent to the research objective.
30. a. One-size-fits-all marketing is no longer relevant because consumers want to be treated as the individuals they are
31. c. Marketing research
32. d. Can be personalized for greater relevance to each respondent
33. c. regulate the flow of information.
Usually, a purchasing agent acts as gatekeeper and views it as a source of power.
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