Quiz 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 consumers

Which of the following statements regarding concentrated marketing is​ correct?

Concentrated marketing targets a small share of a large market.

Which value proposition is the most difficult to sustain in the long​ run?

More for less

What is the overall purpose of​ differentiation?

create consumer customer value

Which of the following descriptions best represents targeting a demographic​ segment?

sports

A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your​ colleague?

Carefully consider the degree of competition and ease of entry into the segment.

Which of the following statements regarding segmentation is​ correct?

Consumer and business marketers use many similar​ variables, but business marketers use additional variables to segment their markets.

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

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

Which of the following statements about segmentation is​ true?

Different segments might require different marketing strategies or mixes.

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

There is a growing segment of people who want food that tastes good and is also good for them. This​ healthy-living segment represents which segmentation​ base?

Lifestyle

Which targeting strategy focuses on common consumer​ needs, as opposed to different​ needs?

Mass marketing

Which of the following statements regarding positioning is​ correct?

Positions must adapt over time to meet changing consumer needs.

BMW says their cars are​ "The Ultimate Driving​ Machine". Ford trucks are​ "Built Ford​ Tough". Which type of differentiation do these examples​ represent?

Product position

What are perceptual positioning maps used​ for?

To show consumer perceptions of an individual brand in comparison with other brands

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

Undifferentiated​ marketing(mass), differentiated​ marketing (segmented), and concentrated marketing (niche)

Which base of segmentation divides buyers into segments based on their​ knowledge, attitudes,​ uses, or responses to a​ product?

behavioral

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

If men and women respond similarly to the same marketing​ mix, they do not constitute​ distinct, identifiable segments. Gender would not be an effective base for segmentation in this example because the segments are not​ __________.

differentiable

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

Choosing a differentiated targeting strategy has many​ benefits, but a potential downside is that​ __________.

it can increase costs

Psychographic segmentation divides buyers into different segments based on​ __________.

lifestyle and personality

The process of evaluating each market​ segment's attractiveness and selecting one or more market segments to enter is called​ __________.

market targeting

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

value proposition