Chapter 9

A(n) ________ strategy is used for many basic commodities, such as salt or sugar, where the products are perceived to provide similar benefits to most consumers.

undifferentiated

When everyone might be considered a potential user of its product, a firm likely uses a(n) ______ targeting strategy.

undifferentiated

For products like gloves, which provide the same benefit for all consumers, marketers should probably use a(n) ________Blank strategy.

undifferentiated targeting

In the Circles for a Successful Value Proposition framework, the portion of the customer needs/wants circle that doesn't overlap with anything else represents

unmet customer needs/wants.

Baby Boomers represent a huge demographic segment for travel marketers. Baby Boomers are also heavily motivated by self-fulfillment, which creates the possibility of ________Blank segmentation.

v

A positioning strategy can help communicate the firm's or the product's _______, the unique value that a product or service provides to its customers, and how it is better than and different form those of competitors.

value proposition

Place the steps in the segmentation, targeting, and positioning process in their conventional order, with the first step at the top.

1. Establish strategy or objectives 2. Use segmentation methods 3. Evaluate segment attractiveness 4. Select target market 5. Identify and develop positioning strategy

How does developing descriptions of each market segment help firms? (Choose every correct answer.)

By identifying similarities within market segments By identifying differences across market segments

Age, gender, and income are methods for describing which type of segmentation?

Demographic

When marketers seek to evaluate market attractiveness, what must they do first?

Determine whether the segment is worth pursuing

__________ segmentation organizes customers into groups on the basis of where they live.

Geographic

What is the first stage in determining whether a segment is attractive and, therefore, worth pursuing?

Identifiable

When establishing its overall segmentation strategy or objectives, what must the firm keep in mind? (Choose every correct answer.)

Its mission and objectives Its current situation

________ involves a process of defining the marketing mix variables so that target customers have a clear, distinctive, desirable understanding of what the product does or represents in comparison with competing products.

Market positioning

Which of the following is NOT a method that firms use to position products?

Market share

Which of the following is NOT a market segmentation approach?

Product

3. Market growth (current size and expected growth rate), market competitiveness (number of competitors, entry barriers, and product substitutes), and market access are all important factors in analyzing which criteria?

Profitable

Which of the following are marketing segmentation approaches? (Choose every correct answer.)

Psychographic Geographic Benefit

Marketers use persuasive communications and product distribution in an effort to make sure its market is _______.

Reachable

For a segmentation strategy to be successful, the customers in the segment must react similarly and positively to the firm's offering. In other words, the segment must be _______.

Responsive

Which of the following steps are part of the segmentation, targeting, and positioning process? (Choose every correct answer.)

Selecting target market Establish strategy or objectives Evaluating segment attractiveness

______ is the image people ideally have of themselves.

Self-concept

Which of the following are examples of self-values? (Choose every correct answer.)

Sense of belonging Self-fulfillment Self-respect

2. If a market is too small or its buying power insignificant, that market would fail to meet which criteria for evaluating market attractiveness?

Substantial

Colonel Sanders, the Jolly Green Giant, the Gerber Baby, and Tony the Tiger are all examples of which positioning tool?

Symbols

What is the best situation in the Circles for a Successful Value Proposition framework?

The firm's offering overlaps with customer needs/wants but not with competitors' offerings.

After establishing overall objectives, why do marketers then use a particular method or combination thereof to identify and describe market segments?

To help understand the profile of each segment

True or False: Lifestyles are a component of psychographic segmentation that describes how an individual lives his or her life to achieve goals.

True

Firms position products based on which of the following? (Choose every correct answer.)

Value Symbols Salient attributes

The third step of the market segmentation process is to evaluate segment ______, which is based on such criteria as its profitability, responsiveness, and reachability.

attractiveness

If automakers used ________Blank segmentation, they would use vehicle features such as the availability of a moon roof and Bluetooth capability to find customers similar to Justin.

behavioral

Suppose that Coca-Cola were to divide its market up into segments based on the amount of soda consumers drink (heavy, medium, and occasional soda drinkers). What type of segmentation does this represent?

behavioral

___ segmentation forms market segments based on the way consumers use a product, such as more frequently or with greater loyalty.

behavioral

What type of segmentation categorizes consumers on the basis of the outcomes they hope to derive from a product or service?

benefit

Which of the following is NOT one of the three segments involved in determining psychographics?

cognitive dissonance

Benefit segmentation is often effective because it is relatively easy to portray a product's or service's benefits in the firm's Blank______ strategies.

communication

Market positioning is done so that the target customers have an understanding of the product offered by the company in comparison with Blank______ products.

competing

Which of the following is NOT a key element needed to develop and communicate a firm's value proposition?

competition

When an organization selects a single, primary target market and focuses all its energies on providing a product to fit that market's needs, it is using a(n) ________ targeting strategy.

concentrated

A perceptual map is used in developing a positioning strategy in order to display the position of the products or brands in the Blank______ mind.

consumer's

The key to market positioning is _______.

defining the marketing mix variables

Age, gender, and income are all examples of ______ segmentation variables.

demographic

_____ segmentation variables include age, income, and gender.

demographic

Psychographics is a segmentation method that delves into how consumers actually Blank______ themselves.

describe

Condé Nast has more than 20 niche magazines focused on different aspects of life. Which targeting strategy is it using?

differentiated

PepsiCo markets Pepsi, Mountain Dew, and Gatorade. PepsiCo uses its different brands to pursue a(n) ________Blank strategy.

differentiated targeting

Because consumers in the same neighborhoods tend to buy the same types of cars, appliances, and apparel and shop at the same types of retailers, _______ segmentation can help retailers to tailor each store's assortment to the preferences of the local community.

geodemographic

Grouping a market by country, region (northeast, southeast), or areas within a region is known as ________ segmentation.

geographic

Market differences across regions, states, or neighborhoods create opportunities for

geographic segmentation

Market positioning involves a process of defining the marketing mix variables so that the target customers Blank______.

have a clear, distinctive understanding of the product

Within a perceptual map, a(n) ________Blank represents where a particular market segment's desired product would lie.

ideal point

Ali has identified four potential market segments for his Rent-A-Teacher tutoring service. He will now compare the segments to see whether they are distinct from each other. Ali is evaluating whether each segment is

identifiable

A university that uses benefit segmentation to target students who want to earn a degree while working full time would most likely focus its marketing message on

its offering of online courses and of in-person classes at convenient times.

The component of segmentation that is determined by how we live our lives to achieve goals is called ______.

lifestyle

Darius wants to position his firm against his competitors. In doing so he should avoid

looking too much like the competitor so as not to confuse the target segment.

_____ _____analysis uses purchase transaction data to identify associations between products or combinations of products and services that occur together frequently.

market basket

______ analysis is a specific type of data analysis that focuses on the composition of the basket, or bundle, of products purchased during a single shopping occasion.

market basket

_______ _______ analysis uses purchase transaction data to identify associations between products or combinations of products and services that occur together frequently.

market basket

Aggregating potential car buyers into groups that have common needs and will respond in the same way to a marketing campaign is a process known as

market segmentation

The process of dividing the market into groups of customers who have different needs, wants, or characteristics is called ______.

market segmentation

When a firm tailors a product or service to suit an individual customer's wants or needs, it is undertaking _______.

micromarketing

When an Idaho-based discount hardware chain sent snow shovels to its Augusta, Georgia, store in April, it was engaged in

misguided geographic segmentation.

Behavioral segmentation based on when a product or service is purchased or consumed is called _______ segmentation.

occasion

In determining the value proposition, the best situation is when a firm's product offering ________.

overlaps with customer needs without overlapping with competitors' offerings

Elizabeth has been assigned the task of identifying her company's competitor positions in the snack chip market, and she also needs to identify consumer preferences for low-carb snack chips. What tool should Elizabeth use to accomplish this task?

perceptual map

If an automaker wanted to compare several different car brands based on their performance on two factors—fuel efficiency and reliability—this could be done with a(n)

perceptual map

What is used to display, in two or more dimensions, the positions of products or brands in the consumer's mind?

perceptual map

________Blank is defining the firm's marketing mix variables so target customers have a clear, distinctive, desirable understanding of the firm's offerings relative to competitors' offerings.

positioning

Honeybee Jams claims its products are made with natural ingredients and contain no additives. Marketers using this type of promotion are positioning their products based primarily on

product attributes.

If automakers were to segment Justin based upon the type of active lifestyle he leads, this would be considered ________Blank segmentation.

psychographic

While some segmentation methods rely on external descriptions and factors to break down the market, ______ segmentation relies on consumers' descriptions of themselves.

psychographic

Dennis wants to sell personal care products at minimal cost to U.S. soldiers in Syria. Because of the difficulty of shipping to a war zone, Dennis may have trouble with this segment's not being

reachable

With access to the Internet nearly universal in the United States, many potential market segments have become more

reachable

The ______ strategy must be consistent with and derived from the firm's mission and objectives, as well as its current situation—its strengths, weaknesses, opportunities, and threats (SWOT).

segmentation

A successful marketing plan requires identifying and evaluating opportunities by performing an STP analysis, which stands for Blank______.

segmentation, targeting, and positioning

Etana wants to develop a meal-delivery service business and is working through the STP process. After establishing her objectives, describing potential market segments, and evaluating the attractiveness of each segment, Etana now has to

select a target market.

After evaluating each market segment's attractiveness, the next step in the STP process is Blank______.

selecting a target market

Another term for self-concept is Blank______.

self-image

______ are goals for life, not just the goals one wants to accomplish in a day. They are the overriding desires that drive how a person lives his or her life.

self-values

To develop psychographic segments, the marketer must understand consumers'

self-values, self-concept, and lifestyles.

Individuals in different segments should have ______ within the segment and ______ across the segments.

similarities; differences

Renee is concerned that one of the potential market segments she has identified for her in-home personal training service is too small and has too little income to have sufficient buying power. Renee is concerned with whether the segment is

substantial

Risha is trying to determine whether the segments she is considering for her day care center will be profitable. Which factor is least relevant to her analysis?

the average number of school-age siblings of children attending day care

The unique value that a product or service provides to its customers and how it is better than and different from those of competitors is referred to as ________.

the value proposition

Firms position their products based on methods such as Blank______.

the value proposition, salient attributes, symbols, and competition

STP analysis occurs during which step of the marketing planning process?

third