11.Segmenting consumers by behavior refers to categorizing based on their (choose all that apply)

[ ] Action towards a product

[ ] Feeling about a product

[ ] Usage of a product

[ ] Ability to pay for a product

12.The 80/20 rule or the principle which states that, for many events, 80% of effects come from 20% of the causes is called

Pareto principle

Murphys principle

Parkinsons principle

Peter principle

13.Amazons approach is based on the idea that firms can make money by selling small amounts of items that only a few people want, provided that they sell enough different items. This refers to

Lifecycle concept

Long tail concept

Pareto principle

Psychographics

14.Chocolate brands often have special packaging during holiday seasons to attract customers more during this time. This is an example of segmentation by

Personality

User status

Psychographics

Usage occasion

15.The idea of segmenting is to identify groups of customers with similar needs.

True

False

16.The step in which marketers evaluate each potential segment and decide upon which groups of customers to choose is called

Segmentation

Targeting

Positioning

17.Select the characteristic of a viable market segment which a marketer can choose for a product/ service

Members within the segment should have similar wants and needs

It should be measurable in size and purchasing power

It should be large enough to be profitable

It should be reachable by marketing communications

It should have needs which the marketer can address

All of the above

18.Which is not a phase of targeting?

Evaluating market segments

Developing segment profile

Choosing marketing mix

Choosing target strategy

19.List the 4 main targeting strategies a marketer can choose.

20.When a firm markets a single product differently to different segments, by changing marketing communications to appeal to each targeted group, they are following

Undifferentiated marketing

Differentiated marketing

Concentrated marketing

Customised marketing