MARKETING CH 6: Customer Value-Driven Marketing Strategy: Creating

Question 1 of 13

1

Dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies is known as __________.

Select one of the following:

market targeting
positioning
differentiation
market segmenting
mass marketing

Explanation

Question 2 of 13

1

Through its mobile Whopper Detour promotion, Burger King offered discounted Whoppers to people close to a competing McDonald's restaurant. This is an example of which of the following?

Select one of the following:

Hyperlocal social marketing
Demographic segmentation
Gender-neutral marketing
Occasion marketing
User status segmentation

Explanation

Question 3 of 13

1

H2Coast, an automobile manufacturer, produces fuel-efficient hybrid vehicles that are targeted toward high-end exotic-vehicle collectors with ample leisure time. H2Coast most likely segments the consumer market based on ________ variables.

Select one of the following:

geographic
behavioral
demographic
psychographic
universal

Explanation

Question 4 of 13

1

User status, usage rate, and loyalty status are examples of which type of segmentation variable?

Select one of the following:

Demographic segmentation
Psychographic segmentation
Geographic segmentation
Behavioral segmentation
Economic segmentation

Explanation

Question 5 of 13

1

The type of segmentation that forms segments of consumers who have similar needs and buying behaviors even though they are located in different countries is known as _________.

Select one of the following:

demographic segmentation
behavioral segmentation
Intermarket segmentation
geographic segmentation
lifestyle segmentation

Explanation

Question 6 of 13

1

The type of segment characteristic in which the size, purchasing power, and profiles of the segments can be quantified is known as __________.

Select one of the following:

accessible
differentiable
measurable
actionable
substantial

Explanation

Question 7 of 13

1

In 2015 Target eliminated its "pink" and "blue" aisles, and it now sells lines such as a collection of back-to-school clothing, accessories, backpacks, and bedding that appeals to both boys and girls. This is an example of which type of marketing?

Select one of the following:

Income
Hyperlocal
Lifestyle
Gender-neutral
Age and life-cycle

Explanation

Question 8 of 13

1

Firms that manufacture seasonal products target their consumers primarily through ________ segmentation.

Select one of the following:

psychographic
income
demographic
age and life-cycle
occasion

Explanation

Question 9 of 13

1

When a company engages in ________marketing it ignores market segment differences and targets the whole market with one offer.

Select one of the following:

segmented
concentrated
mass
differentiated
niche

Explanation

Question 10 of 13

1

Which type of market-coverage strategy involves targeting several market segments and designing separate offers for each?

Select one of the following:

Micromarketing
Undifferentiated marketing
Concentrated marketing
Niche marketing
Differentiated marketing

Explanation

Question 11 of 13

1

Which value proposition offers not only higher quality, but also confers prestige upon the buyer?

Select one of the following:

Less for much less
More for more
The same for less
More for less
More for the same

Explanation

Question 12 of 13

1

Amazon is now promising same-day pick-up of goods as well as local secure pick-up points. What point of differentiation is this?

Select one of the following:

Channel differentiation
People differentiation
Image differentiation
Product differentiation
Services differentiation

Explanation

Question 13 of 13

1

If competitors cannot easily copy the benefit a company chooses to promote, that benefit is said to be _______

Select one of the following:

distinctive
superior
profitable
preemptive
affordable

Explanation

Question 14 of 13

1

What is market segmentation?

Select one of the following:

Evaluating each market segment's attractiveness and selecting one or more market segments to enter
Marketing to a mass market of homogenous buyers
Differentiating the firm's market offering to create superior customer value
Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes
Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

Explanation

Question 15 of 13

1

____ involves differentiating a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Select one of the following:

Targeting
Undifferentiated marketing
Intermarket segmentation
Positioning
Segmenting

Explanation

Question 16 of 13

1

________ is the act of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes.

Select one of the following:

Positioning
Hyperlocal social marketing
Differentiation
Market segmentation
Market targeting

Explanation

Question 17 of 13

1

Once segments have been identified, market ________ evaluates each segment's attractiveness and selects one or more to serve.

Select one of the following:

differentiation
micromarketing
targeting
segmentation
positioning

Explanation

Question 18 of 13

1

In addition to segmentation and targeting, there are two other major steps in designing a customer value-driven market strategy: seeks to create superior customer value in the mind of the consumer, and seeks to firmly place the market offering in the minds of target customers.

Select one of the following:

differentiation; segmentation
differentiation; positioning
positioning; segmentation
positioning; target marketing
positioning; differentiation

Explanation

Question 19 of 13

1

What are the four major steps in designing a customer value-driven marketing strategy, in the correct sequence?

Select one of the following:

Positioning, market segmentation, market targeting, and differentiation
Market targeting, market segmentation, differentiation, and positioning
Market segmentation, differentiation, market targeting, and positioning
Market segmentation, market targeting, differentiation, and positioning
Market segmentation, market targeting, positioning, and differentiation

Explanation

Question 20 of 13

1

Major variables used to segment consumer markets include which of the following?

Select one of the following:

Geographic, demographic, psychographic, and psychological
Ethnicity, geographic, gender, and income
Income, gender, age, and ethnicity
Income, age, geographic, and lifestyle
Geographic, demographic, psychographic, and behavioral

Explanation

Question 21 of 13

1

Which of the following describes the variables that marketers use to segment business markets that differ from the variables used to segment consumer markets?

Select one of the following:

Operating characteristics, purchasing approaches, pricing, and demographics
Operating characteristics, purchasing approaches, situational factors, and demographics
Operating characteristics, geography, situational factors, and pricing
Operating characteristics, purchasing approaches, situational factors, and geography
Operating characteristics, purchasing approaches, situational factors, and personal characteristics

Explanation

Question 22 of 13

1

There are four major variables that might be used in segmenting consumer markets. Those major variables are ________ variables.

Select one of the following:

geographic, demographic, economic, and behavioral
geographic, demographic, psychographic, and behavioral
geographic, demographic, political, and economic
geographic, demographic, cultural, and behavioral
geographic, demographic, psychographic, and political

Explanation

Question 23 of 13

1

The explosion in the men's personal care industry, with many cosmetics brands now successfully marketing men's lines is an example of ________ segmentation.

Select one of the following:

age and life-cycle
.
income
gender
behavioral
psychographic

Explanation

Question 24 of 13

1

Although business marketers use many of the same variables to segment their markets, they also use some additional variables, which include all of the following EXCEPT ________.

Select one of the following:

management factors
purchasing approaches
customer operating characteristics
personal characteristics
situational factors

Explanation

Question 25 of 13

1

When effective programs can be designed for attracting and serving market segments, these segments are ________.

Select one of the following:

differentiable
substantial
accessible
measurable
actionable

Explanation

Question 26 of 13

1

To target the best market segments, the company first evaluates various factors related to market attractiveness. Of the following, which is NOT one of those factors?

Select one of the following:

Evaluation of each segment's structural attractiveness
Evaluation of each segment's size characteristics
Evaluation of each segment's growth characteristics
Compatibility with company mission and vision
Compatibility with company objectives and resources

Explanation

Question 27 of 13

1

In which targeting strategy does a firm go after a large share of one or a few smaller segments?

Select one of the following:

Differentiated marketing
Undifferentiated marketing
Mass marketing
Micromarketing
Concentrated marketing

Explanation

Question 28 of 13

1

To determine which market segments to target and serve, the company first evaluates which of the following for each segment?

Select one of the following:

Size and growth characteristics and compatibility with company objectives and resources only
Size and growth characteristics only
Compatibility with company objectives and resources only
Size and growth characteristics, structural attractiveness, and compatibility with company objectives and resources
Size and growth characteristics and structural attractiveness only

Explanation

Question 29 of 13

1

One important consideration in using a differentiated targeting strategy is that _______.

Select one of the following:

it can increase costs
focusing on what is common in consumers can potentially appeal to the largest number of buyers
the demand for customized products is decreasing
serving one or a few smaller segments can limit sales
it is easier for the company because it only needs to manage one market offering

Explanation

Question 30 of 13

1

Firms with limited resources often target a market niche that is either ignored or unimportant to larger firms. This represents a(n) _______ strategy.

Select one of the following:

differentiated marketing
undifferentiated marketing
micromarketing
mass marketing
concentrated marketing

Explanation

Question 31 of 13

1

Which factor would make a target segment more attractive?

Select one of the following:

Contains many strong competitors
Buyers have strong bargaining power relative to sellers
Many possible substitute products exist
Challenging for new entrants to come into the segment
Contains powerful suppliers

Explanation

Question 32 of 13

1

Which of the following is NOT one of the specific ways in which companies can differentiate their market offerings?

Select one of the following:

Product differentiation
Image differentiation
Services differentiation
Channel differentiation
Competitor differentiation

Explanation

Question 33 of 13

1

The _____________ is a brand's full positioning or the full mix of benefits on which the brand is positioned.

Select one of the following:

value proposition
brand's personality and voice
differentiation strategy
target marketing strategy
positioning map

Explanation

Question 34 of 13

1

Once a company has decided which segments to enter, it must decide on its ________ strategy.

Select one of the following:

positioning and differentiation
channel and distribution
advertising and sales promotion
financial and revenue
sales and marketing

Explanation

Question 35 of 13

1

Which type of positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs?

Select one of the following:

More for more
More for less
Less for much less
The same for less
More for the same

Explanation

Question 36 of 13

1

The full positioning of a brand is called the brand's ________, which is the full mix of benefits on which a brand is differentiated and positioned.

Select one of the following:

benefit proposition
differentiation statement
overall brand strategy
value proposition
positioning statement

Explanation

Question 37 of 13

1

What are perceptual positioning maps used for?

Select one of the following:

To implement a particular positioning strategy
To show consumer perceptions of different brands on important buying dimensions
To show consumer perceptions of an individual brand on important buying dimensions
To find where to best position a product on a store shelf
To compare a company's profitability with the profitability of competitors

	Created by itachi uchiha almost 2 years ago

EXAM PREP CHAPTER 6

MARKETING CH 6: Customer Value-Driven Marketing Strategy: Creating

MARKETING CH 6: Customer Value-Driven Marketing Strategy: Creating

Question 1 of 13

Dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies is known as​ __________.

Select one of the following:

Explanation

Question 2 of 13

Through its mobile Whopper Detour​ promotion, Burger King offered discounted Whoppers to people close to a competing​ McDonald's restaurant. This is an example of which of the​ following?

Select one of the following:

Explanation

Question 3 of 13

​H2Coast, an automobile​ manufacturer, produces​ fuel-efficient hybrid vehicles that are targeted toward​ high-end exotic-vehicle collectors with ample leisure time. H2Coast most likely segments the consumer market based on​ ________ variables.

Select one of the following:

Explanation

Question 4 of 13

User​ status, usage​ rate, and loyalty status are examples of which type of segmentation​ variable?

Select one of the following:

Explanation

Question 5 of 13

The type of segmentation that forms segments of consumers who have similar needs and buying behaviors even though they are located in different countries is known as​ _________.

Select one of the following:

Explanation

Question 6 of 13

The type of segment characteristic in which the​ size, purchasing​ power, and profiles of the segments can be quantified is known as​ __________.

Select one of the following:

Explanation

Question 7 of 13

In 2015 Target eliminated its​ "pink" and​ "blue" aisles, and it now sells lines such as a collection of​ back-to-school clothing,​ accessories, backpacks, and bedding that appeals to both boys and girls. This is an example of which type of​ marketing?

Select one of the following:

Explanation

Question 8 of 13

Firms that manufacture seasonal products target their consumers primarily through​ ________ segmentation.

Select one of the following:

Explanation

Question 9 of 13

When a company engages in​ ________marketing it ignores market segment differences and targets the whole market with one offer.

Select one of the following:

Explanation

Question 10 of 13

Which type of​ market-coverage strategy involves targeting several market segments and designing separate offers for​ each?

Select one of the following:

Explanation

Question 11 of 13

Which value proposition offers not only higher​ quality, but also confers prestige upon the​ buyer?

Select one of the following:

Explanation

Question 12 of 13

Amazon is now promising​ same-day pick-up of goods as well as local secure​ pick-up points. What point of differentiation is​ this?

Select one of the following:

Explanation

Question 13 of 13

If competitors cannot easily copy the benefit a company chooses to​ promote, that benefit is said to be​ _______

Select one of the following:

Explanation

Question 14 of 13

What is market​ segmentation?

Select one of the following:

Explanation

Question 15 of 13

____ involves differentiating a market offering to occupy a​ clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Select one of the following:

Explanation

Question 16 of 13

​________ is the act of dividing a market into distinct groups of buyers who have different​ needs, characteristics, or behaviors and who might require separate marketing strategies or mixes.

Select one of the following:

Explanation

Question 17 of 13

Once segments have been​ identified, market​ ________ evaluates each​ segment's attractiveness and selects one or more to serve.

Select one of the following:

Explanation

Question 18 of 13

Select one of the following:

Explanation

Question 19 of 13

What are the four major steps in designing a customer​ value-driven marketing​ strategy, in the correct​ sequence?

Select one of the following:

Explanation

Question 20 of 13

Major variables used to segment consumer markets include which of the​ following?

Dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies is known as __________.

Through its mobile Whopper Detour promotion, Burger King offered discounted Whoppers to people close to a competing McDonald's restaurant. This is an example of which of the following?

H2Coast, an automobile manufacturer, produces fuel-efficient hybrid vehicles that are targeted toward high-end exotic-vehicle collectors with ample leisure time. H2Coast most likely segments the consumer market based on ________ variables.

User status, usage rate, and loyalty status are examples of which type of segmentation variable?

The type of segmentation that forms segments of consumers who have similar needs and buying behaviors even though they are located in different countries is known as _________.

The type of segment characteristic in which the size, purchasing power, and profiles of the segments can be quantified is known as __________.

In 2015 Target eliminated its "pink" and "blue" aisles, and it now sells lines such as a collection of back-to-school clothing, accessories, backpacks, and bedding that appeals to both boys and girls. This is an example of which type of marketing?

Firms that manufacture seasonal products target their consumers primarily through ________ segmentation.

When a company engages in ________marketing it ignores market segment differences and targets the whole market with one offer.

Which type of market-coverage strategy involves targeting several market segments and designing separate offers for each?

Which value proposition offers not only higher quality, but also confers prestige upon the buyer?

Amazon is now promising same-day pick-up of goods as well as local secure pick-up points. What point of differentiation is this?

If competitors cannot easily copy the benefit a company chooses to promote, that benefit is said to be _______

What is market segmentation?

____ involves differentiating a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

________ is the act of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes.

Once segments have been identified, market ________ evaluates each segment's attractiveness and selects one or more to serve.

What are the four major steps in designing a customer value-driven marketing strategy, in the correct sequence?

Major variables used to segment consumer markets include which of the following?

Which of the following describes the variables that marketers use to segment business markets that differ from the variables used to segment consumer markets?

There are four major variables that might be used in segmenting consumer markets. Those major variables are ________ variables.

The explosion in the men's personal care industry, with many cosmetics brands now successfully marketing men's lines is an example of ________ segmentation.

Although business marketers use many of the same variables to segment their markets, they also use some additional variables, which include all of the following EXCEPT ________.

When effective programs can be designed for attracting and serving market segments, these segments are ________.

To target the best market segments, the company first evaluates various factors related to market attractiveness. Of the following, which is NOT one of those factors?

In which targeting strategy does a firm go after a large share of one or a few smaller segments?

To determine which market segments to target and serve, the company first evaluates which of the following for each segment?

One important consideration in using a differentiated targeting strategy is that _______.

Firms with limited resources often target a market niche that is either ignored or unimportant to larger firms. This represents a(n) _______ strategy.

Which factor would make a target segment more attractive?

Which of the following is NOT one of the specific ways in which companies can differentiate their market offerings?

The _____________ is a brand's full positioning or the full mix of benefits on which the brand is positioned.

Once a company has decided which segments to enter, it must decide on its ________ strategy.

Which type of positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs?

The full positioning of a brand is called the brand's ________, which is the full mix of benefits on which a brand is differentiated and positioned.

What are perceptual positioning maps used for?