Marketing chapter 6
Concentrated marketing
In which targeting strategy does a firm go after a large share of one or a few smaller segments?
Geographic
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?
targeting
Once segments have been identified, market ________ evaluates each segment's attractiveness and selects one or more to serve.
New entrants finding it easy to enter the segment
Which of the following would make a segment less attractive to enter?
psychographic
H2Coast, an automobile manufacturer, produces fuel-efficient hybrid vehicles that are targeted toward high-end exotic-vehicle collectors with ample leisure time. H2Coast most likely segments the consumer market based on ________ variables.
demographic
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.
Business demographics, operating characteristics, purchasing approaches, situational factors, and personal characteristics
Like consumer markets, business markets are segmented. Which of the following describes the variables that marketers use to segment business markets?
Geographic, demographic, psychographic, and behavioural
Major variables used to segment consumer markets include which of the following?
it can increase costs
One important consideration in using a differentiated targeting strategy is that _______.
reach them more efficiently, and tailor market offerings and messages
Segmentation provides a powerful tool for marketers of all kinds. It can help companies identify and better understand key customer segments, ________________ to their specific needs.
a set of possible differentiations; advantages
The differentiation and positioning task consists of three steps: identifying ________ that create competitive advantage, choosing ________ on which to build a position, and selecting an overall positioning strategy.
Concentrated marketing
The website leftyslefthand.com markets products to left-handed consumers only. Which targeting strategy does this represent?
Image differentiation
The Ritz-Carlton has carefully created a strong and distinctive differentiation strategy, which is supported by everything the company says, is, and does. Which type of differentiation is this?
value proposition
The ________________________ is a brand's full positioning or the full mix of benefits on which the brand is positioned.
Market segmentation, market targeting, differentiation, and positioning
What are the four major steps in designing a customer value-driven marketing strategy, in the correct sequence?
The first two steps allow the company to select the customers that it will serve, while the company decides on a value proposition in the last two steps.
What are the goals of the first two steps and the last two steps when designing a customer value-driven marketing strategy?
Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviours and who might require separate marketing strategies or mixes
What is market segmentation?
Micromarketing
When a car company allows buyers to customize cars to meet their exact needs and preferences, it is practicing which type of marketing?
actionable
When effective programs can be designed for attracting and serving market segments, these segments are ________.
unique selling proposition
When marketers aggressively promote only one benefit to the target market, the benefit promoted is known as the product or service's _____________________.
Positioning
Which of the following describes the process of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers?
Differentiation
______________________ is part of a company's decision on how it will create market offerings to deliver superior customer value
preemptive
if competitors cannot easily copy the benefit a company chooses to promote, that benefit is said to be _________.
perceptual positioning map
A manufacturer of half-ton pickup trucks creates a positioning map for the Canadian half-ton pickup market. The position of each circle on the map indicates the brand's perceived positioning on two dimensions: price and orientation (economy versus performance). The size of each circle indicates the brand's relative market share. This is an example of a ________________.
market variability and competitive marketing strategies
Companies need to consider many factors when choosing a market-targeting strategy. However, which targeting strategy is best depends on company resources, product variability, product life-cycle stage, as well as ________________________.
