Intro to Marketing HW #5 questions

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

Behavioral segmentation

________ 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.

Market segmentation

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

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

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

Mass

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

More for More

Which of the following terms does NOT mean tailoring products and marketing programs to the needs and preferences of individual​ customers?

Niche Marketing

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

Pre-emptive

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

Targeting

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.

differentiation; positioning

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

​Geographic, demographic,​ psychographic, and behavioral

Socially responsible target marketing would classify which of the following as an especially vulnerable target market for harmful or controversial​ products?

Children

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?

Gender-neutral

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

Services differentiation

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

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

​________ segments are large or profitable enough to serve.

Substantial

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

Concentrated marketing

​Heeltoe, a boutique that caters to the footwear needs of​ women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of​ affluent, middle-aged​ women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on​ ________ variables.

Demographic

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

Differentiated Marketing

What is market​ segmentation?

Dividing a market into distinct groups of buyers who have different​ needs, characteristics, or behaviors and who might require separate marketing strategies or mixes

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

Gender

Munoz Specialty Foods groups its customers by regions in the United​ States, such as​ Midwest, Northeast, and Southwest. For each​ region, Munoz creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its​ market?

Geographic

Which of the following would make a segment less attractive to​ enter?

New entrants finding it easy to enter the segment

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

Positioning

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

Value Proposition

Kidcomp, an American​ computer-manufacturing firm, targets children younger than age 10 by providing free games and applications. The​ firm's marketing approach is reflective of​ ________ segmentation.

age and​ life-cycle