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

Description

EXAM PREP CHAPTER 6
itachi uchiha
Quiz by itachi uchiha, updated more than 1 year ago
itachi uchiha
Created by itachi uchiha over 1 year ago
773
0

Resource summary

Question 1

Question
Dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies is known as​ __________.
Answer
  • market targeting
  • positioning
  • differentiation
  • market segmenting
  • mass marketing

Question 2

Question
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?
Answer
  • Hyperlocal social marketing
  • Demographic segmentation
  • Gender-neutral marketing
  • Occasion marketing
  • User status segmentation

Question 3

Question
​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.
Answer
  • geographic
  • behavioral
  • demographic
  • psychographic
  • universal

Question 4

Question
User​ status, usage​ rate, and loyalty status are examples of which type of segmentation​ variable?
Answer
  • Demographic segmentation
  • Psychographic segmentation
  • Geographic segmentation
  • Behavioral segmentation
  • Economic segmentation

Question 5

Question
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​ _________.
Answer
  • demographic segmentation
  • behavioral segmentation
  • Intermarket segmentation
  • geographic segmentation
  • lifestyle segmentation

Question 6

Question
The type of segment characteristic in which the​ size, purchasing​ power, and profiles of the segments can be quantified is known as​ __________.
Answer
  • accessible
  • differentiable
  • measurable
  • actionable  
  • substantial

Question 7

Question
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?
Answer
  • Income
  • Hyperlocal
  • Lifestyle
  • ​Gender-neutral
  • Age and​ life-cycle

Question 8

Question
Firms that manufacture seasonal products target their consumers primarily through​ ________ segmentation.
Answer
  • psychographic
  • income
  • demographic
  • age and​ life-cycle
  • occasion

Question 9

Question
When a company engages in​ ________marketing it ignores market segment differences and targets the whole market with one offer.
Answer
  • segmented
  • concentrated
  • mass
  • differentiated
  • niche

Question 10

Question
Which type of​ market-coverage strategy involves targeting several market segments and designing separate offers for​ each?
Answer
  • Micromarketing
  • Undifferentiated marketing
  • Concentrated marketing
  • Niche marketing
  • Differentiated marketing

Question 11

Question
Which value proposition offers not only higher​ quality, but also confers prestige upon the​ buyer?
Answer
  • Less for much less
  • More for more
  • The same for less
  • More for less
  • More for the same

Question 12

Question
Amazon is now promising​ same-day pick-up of goods as well as local secure​ pick-up points. What point of differentiation is​ this?
Answer
  • Channel differentiation
  • People differentiation
  • Image differentiation
  • Product differentiation
  • Services differentiation

Question 13

Question
If competitors cannot easily copy the benefit a company chooses to​ promote, that benefit is said to be​ _______
Answer
  • distinctive
  • superior
  • profitable
  • preemptive
  • affordable

Question 14

Question
What is market​ segmentation?
Answer
  • 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

Question 15

Question
____ involves differentiating a market offering to occupy a​ clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
Answer
  • Targeting
  • Undifferentiated marketing
  • Intermarket segmentation
  • Positioning
  • Segmenting

Question 16

Question
​________ 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.
Answer
  • Positioning
  • Hyperlocal social marketing
  • Differentiation
  • Market segmentation
  • Market targeting

Question 17

Question
Once segments have been​ identified, market​ ________ evaluates each​ segment's attractiveness and selects one or more to serve.
Answer
  • differentiation
  • micromarketing  
  • targeting
  • segmentation
  • positioning

Question 18

Question
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.
Answer
  • differentiation; segmentation
  • ​differentiation; positioning
  • positioning; segmentation
  • ​positioning; target marketing
  • positioning; differentiation

Question 19

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

Question 20

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

Question 21

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

Question 22

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

Question 23

Question
The explosion in the​ men's personal care​ industry, with many cosmetics brands now successfully marketing​ men's lines is an example of​ ________ segmentation.
Answer
  • age and​ life-cycle
  • . income
  • gender
  • behavioral
  • psychographic

Question 24

Question
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​ ________.
Answer
  • management factors
  • purchasing approaches
  • customer operating characteristics
  • personal characteristics
  • situational factors

Question 25

Question
When effective programs can be designed for attracting and serving market​ segments, these segments are​ ________.
Answer
  • differentiable
  • substantial
  • accessible
  • measurable
  • actionable

Question 26

Question
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?
Answer
  • 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

Question 27

Question
In which targeting strategy does a firm go after a large share of one or a few smaller​ segments?
Answer
  • Differentiated marketing
  • Undifferentiated marketing
  • Mass marketing
  • Micromarketing
  • Concentrated marketing

Question 28

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

Question 29

Question
One important consideration in using a differentiated targeting strategy is that​ _______.
Answer
  • 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

Question 30

Question
Firms with limited resources often target a market niche that is either ignored or unimportant to larger firms. This represents​ a(n) _______ strategy.
Answer
  • differentiated marketing
  • undifferentiated marketing
  • micromarketing
  • mass marketing
  • concentrated marketing

Question 31

Question
Which factor would make a target segment more​ attractive?
Answer
  • 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

Question 32

Question
Which of the following is NOT one of the specific ways in which companies can differentiate their market​ offerings?
Answer
  • Product differentiation
  • Image differentiation
  • Services differentiation
  • Channel differentiation
  • Competitor differentiation

Question 33

Question
The​ _____________ is a​ brand's full positioning or the full mix of benefits on which the brand is positioned.
Answer
  • value proposition
  • brand's personality and voice
  • differentiation strategy
  • target marketing strategy
  • positioning map

Question 34

Question
Once a company has decided which segments to​ enter, it must decide on its​ ________ strategy.
Answer
  • positioning and differentiation
  • channel and distribution
  • advertising and sales promotion
  • financial and revenue
  • sales and marketing

Question 35

Question
Which type of positioning involves providing the most upscale product or service and charging a higher price to cover the higher​ costs?
Answer
  • More for more
  • More for less
  • Less for much less
  • The same for less
  • More for the same

Question 36

Question
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.
Answer
  • benefit proposition
  • differentiation statement
  • overall brand strategy
  • value proposition
  • positioning statement

Question 37

Question
What are perceptual positioning maps used​ for?
Answer
  • 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
Show full summary Hide full summary

Similar

3.1 Keywords - Marketing
Mr_Lambert_Hungerhil
Digital Marketing Strategy - The Essentials
Micheal Heffernan
What is Marketing?
Stephanie Natasha
Marketing and Distributing
Shannon Clarke
Design Tips for Non-Designers
Micheal Heffernan
Business Studies: Marketing
Harriet Glover
Calculating Content Marketing Strategy ROI
Rebecca Tarpey
Sensory Marketing
Paisley Williams
Unit 3.1: Marketing
nk_
Chief Marketing Officer (CMO)
takhmina1995
Market & Technology Dynamics
Tris Stindt