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