Intro to Marketing Exam 2 - Quiz 2

Which of the following is the right order of the steps that companies generally follow in designing a customer-driven marketing strategy?

market segmentation, market targeting, differentiation, and positioning

Compared with undifferentiated marketing, differentiated marketing is more likely to lead to ________.

Higher costs of doing business

A market segment is less attractive when ________.

it contains powerful suppliers who can control prices

Danko International is a multinational company that targets the BRIC countries (Brazil, Russia, India, and China) because they're fast-growing developing economies and use ________ to segment its world markets. Select one:

Economic Factors

Companies today are moving away from target marketing and toward mass marketing.

False

Delta, an American video game manufacturer, targets teens between the ages of 13 and 18, providing free game trials and applications. The firm's marketing approach exemplifies ________ segmentation.

Age and Lifecycle

Harry's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged men, and the other line targets younger, up-and-coming professionals. Harry's most likely segments the consumer market based on ________ variables.

Demographic

A company or brand image should convey a product's distinctive benefits and positioning.

True

Market segments that can be effectively reached and served are said to be ________.

Accessible

Gulf Coast, a wholesale shrimp distributor, groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Gulf Coast tailors a different set of advertisements and promotions. The supplier is segmenting its market according to ________.

Geographic Location

At the extreme, micromarketing becomes ________ insofar as products and marketing programs are tailored to the needs and preferences of customers.

Individual Marketing

Gold Class Electricals, a consumer-electronics firm, targets market segments based on factors such as country, age, social class, usage rate, and benefits sought. The company divides its markets based on ________.

Multiple Segmentation Bases

Argonaut Food Stores, a retail giant, hires better-skilled employees than its competitors by employing strategic recruitment practices. It also conducts highly specialized training programs for its employees. In this case, Argonaut has focused on gaining a strong competitive advantage through ________ differentiation.

People Differentiation

Company and brand positioning should be summed up in a ________.

Positioning Statement

Bose promises "better sound through research." This is an example of ________.

Product Differentiation

Companies are likely to gain ________ through speedy, convenient, or careful delivery of products.

Services Differentiation

Which of the following is true of perceptual positioning maps?

They are used to analyze consumer perceptions of a brand relative to competing products.

Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger companies. Select one:

True

Although not recommended, some marketers decide to ignore market segmentation and target the whole market with one offer. This is known as ________ marketing.

Undifferentiated

Markets can be segmented into groups of nonusers, ex-users, potential users, first-time users, and regular users of a product. This method of segmentation is called ________.

User status segmentation