Quiz 6

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

When evaluating various segments for the purpose of targeting, a company should consider:

segment size, segment growth, segment attractiveness, company objectives and resources

Dividing buyers into groups based on the benefits that consumers seek from a product, is called ________ segmentation.

Behavioral

Lilly's, a furniture retailer, sells low-end furniture and accent pieces that are targeted toward lower-income consumer groups. Lilly's most likely segments the consumer market based on ________ variables.

Demographic

Port Orleans Shipping (POS), a shipping company, markets different services to the tourism, defense, and trade segments. The firm designs separate offers for each segment based on their needs. This approach is called ________ marketing.

Differentiated

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

________ is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior.

Market Segmentation

Marketing the same product to a huge customer base without any customization is referred to as ________.

Mass Marketing

________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Positioning

Which of the following is true of perceptual positioning maps?

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