HOMEWORK #4 - QUIZ (CHAPTER 5)

Due by April 1st

Name: ____________________________________

1. Which of the following is not a characteristic of a consumer market?

A) It consists of purchasers who intend to consume or benefit from the purchased products.
B) They do not buy products for the main purpose of making a profit.
C) They are sometimes referred to as B2C markets.
D) Their purchasing decisions are always made by one individual.
E) Each of us belongs to numerous markets of this type.

2. The ability to purchase a product is a function of

A) buying power.
B) desire.
C) willingness.
D) authority.
E) needs.

3. When a firm designs a single marketing mix and directs it at an entire market for a particular product, the
company is using a(n) _________ strategy.
A) concentrated targeting
B) differentiated
C) heterogeneous market
D) undifferentiated
E) single mix

4. Why would a company use the undifferentiated strategy?

A) The needs of individual consumers are dissimilar, and distinctive marketing mixes are required to
satisfy them.
B) The undifferentiated strategy is the one strategy that provides maximum satisfaction to the whole
market.
C) The needs of individual consumers in the target market for a specific product are similar, so the
organization can satisfy most customers with a single marketing mix.
D) The undifferentiated strategy is expensive to implement but tends to produce the most sales.
E) The undifferentiated strategy requires less time and fewer resources.

5. Age, rate of product use, location, and gender are all examples of common
A) demographic variables.
B) geographic characteristics.
C) targeting strategies.
D) psychographic variables.
E) segmentation variables.