Marketing Ch 7

What is​ positioning?

Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target customers

Which of the following statements regarding demographic segmentation is​ correct?

Consumer needs, wants, and usage rates vary closely with demographic variables

On the My​ M&Ms website buyers can place custom orders for​ M&Ms. They can choose their own​ colors, put a personalized text message on the​ candies, and even upload a photo to be placed on each​ M&M. Which targeting strategy is​ M&M using for My​ M&Ms?

Individual Marketing

What is the overall purpose of​ differentiation?

To create superior customer value

Fitbit makes health and fitness tracking devices. Some buyers want very basic fitness tracking such as steps taken and calories consumed. Others are focused on high performance and want heart rate and sleep​ monitoring, text​ notification, and wireless sync to their smart phone. In serving these two very different​ groups, Fitbit is using​ __________ segmentation.

benefits sought

When segmenting international​ markets, markets can be grouped according to​ language, religion,​ customs, and values. This type of segmentation is based on​ __________ factors.

cultural

When segmenting international​ markets, marketers often can form segments of consumers who have similar needs and buying behaviors even though they are located in different countries. This is called​ __________.

intermarket segmentation

What are the three broad targeting strategies used by​ marketers?

mass marketing, differentiated marketing, and micromarketing

Which of the following statements regarding positioning is​ correct?

positions must adapt over time to meet changing consumer needs

The full mix of benefits on which a brand is differentiated and positioned is called​ a(n) __________.

value proposition