Bus 312 ch 7 HW

The full mix of benefits on which a brand is differentiated and positioned is called​ a(n) __________. A. perceptual map B. mission statement C. value proposition D. positioning statement E. image statement

value proposition

In terms of general value propositions, the Hawks are providing greater value with a ____________________ strategy.

More for the same

__________ refers to tailoring products and marketing programs to the needs and preferences of individual customers. Unselected Local marketing Unselected Concentrated marketing Unselected Individual marketing Unselected Undifferentiated marketing

individual marketing

Concentrated marketing refers to __________. Unselected tailoring products and marketing programs to the needs and wants of local customer segments Unselected tailoring products and marketing programs to the needs and preferences of individual customers Unselected a market-coverage strategy in which a firm goes after a large share of one or a few segments or niches Unselected a strategy of tailoring brands to cities, neighborhoods, and specific stores

A market-coverage strategy in which a firm goes after a large share of one or a few segments or niches

What is a positioning statement? Unselected The full positioning of a brand — the full mix of benefits on which it is positioned Unselected The place the product occupies in consumers' minds relative to competing products Unselected An advantage over competitors gained by offering greater customer value either by having lower prices or providing more benefits that justify higher prices Unselected A summary of the company or brand positioning using this form: To (target segment and needs) our (brand) is (concept) that (point of difference)

A summary of the company or brand positioning using this form: To (target segment and needs) our (brand) is (concept) that (point of difference)

A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your​ colleague? A. A segment is attractive if there are substitute products available. B. If there are powerful buyers in the segment it will drive prices up. C. If a segment is larger than others it should always be targeted. D. Fast growing segments are always attractive. E. Carefully consider the degree of competition and ease of entry into the segment

A. A segment is attractive if there are substitute products available. B. If there are powerful buyers in the segment it will drive prices up. C. If a segment is larger than others it should always be targeted. D. Fast growing segments are always attractive. E. Carefully consider the degree of competition and ease of entry into the segment. E

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? A. Gender B. Usage rate C. Age D. Lifestyle E. Geography

A. Gender B. Usage rate C. Age D. Lifestyle E. Geography D

Which targeting strategy focuses on common consumer​ needs, as opposed to different​ needs? A. Local marketing B. Mass marketing C. Concentrated marketing D. Differentiated marketing E. Individual marketing

A. Local marketing B. Mass marketing C. Concentrated marketing D. Differentiated marketing E. Individual marketing B

Which value proposition is the most difficult to sustain in the long​ run? A. The same for less B. More for more C. More for the same D. More for less E. Less for much less

A. The same for less B. More for more C. More for the same D. More for less E. Less for much less D

What is the overall purpose of​ differentiation?

A. To allow a firm to offer the lowest prices B. To divide the market into smaller groups of buyers C. To market high quality products D. To create superior customer value E. To select the segment or segments to enter D

What are perceptual positioning maps used​ for? A. To show consumer perceptions of an individual brand on important buying dimensions B. To show consumer perceptions of different brands on a single product dimension C. To compare a​ company's profitability with the profitability of competitors D. To find the best retail locations for a brand E. To show consumer perceptions of different brands on important product dimensions

A. To show consumer perceptions of an individual brand on important buying dimensions B. To show consumer perceptions of different brands on a single product dimension C. To compare a​ company's profitability with the profitability of competitors D. To find the best retail locations for a brand E. To show consumer perceptions of different brands on important product dimensions E

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​ __________. A. actionable B. differentiable C. accessible D. measurable E. substantial

A. actionable B. differentiable C. accessible D. measurable E. substantial B

What is the most useful thing that a marketer needs to know to learn what customers need? a The demographics of customers in a given market. b The customer characteristic that emerges as the biggest growth driver. c Data that reveals customer consumption patterns. d The manner in which customers evaluate product options. e A customer's zip code.

The customer characteristic that emerges as the biggest growth driver

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. A. ​life-cycle stage B. personality C. benefits sought D. usage rate E. demographic

A. ​life-cycle stage B. personality C. benefits sought D. usage rate E. demographic C

What is​ positioning? A. A part of a​ company-driven marketing strategy B. Developing profiles of market segments C. Arranging for a market offering to occupy a​ clear, distinctive, and desirable place relative to competing products in the minds of target consumers D. Dividing a market into smaller groups of buyers E. Selecting which segments to enter

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? A. Concentrated marketing is generally not a profitable strategy. B. Concentrated marketing is not feasible for small companies. C. Marketers cannot effectively​ fine-tune the marketing mix to the needs of a​ narrow, carefully designed segment. D. Concentrated marketing involves​ higher-than-normal risks. E. Concentrated marketing targets a small share of a large market.

Concentrated marketing involves​ higher-than-normal risks.

Which of the following statements regarding segmentation is​ correct? A. As gender roles have​ changed, gender is no longer a useful form of segmentation. B. Consumer and business marketers use many similar​ variables, but business marketers use additional variables to segment their markets. C. The use of demographics to segment markets has declined in recent years. D. The business market is homogenous and is not segmented E. Marketers typically use one variable to segment their markets.

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? A. Consumer​ needs, wants, and usage rates vary closely with demographic variables. B. Demographics are rarely used anymore for market segmentation. C. Demographic segmentation divides a market based on​ age, personality, and benefits sought. D. Demographic variables are difficult to measure. E. Demographics segmentation uses lifestyle as the primary measure for segmentation.

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

The Atlanta Hawks recently renovated their home arena with Millenials as the target customer group. This is based on ______________ segmentation.

Demographic

Which of the following statements about segmentation is​ true? A. Segmentation identifies individual buyers that can be targeted with a market offering. B. Most companies today mass market and do not segment their markets. C. Buyers within a market segment have different​ needs, characteristics, and behaviors. D. Different segments might require different marketing strategies or mixes. E. Market segmentation is part of a​ company's value proposition.

Different segments might require different marketing strategies or mixes.

Having an arena with bandwidth that is stronger than the average event venue is one way that the Atlanta Hawks have ______________________ their market offering.

Differentiated

__________ refers to tailoring brands and marketing to the needs and wants of local customer segments - cities, neighborhoods, and even specific stores. Unselected Individual marketing Unselected Local marketing Unselected Undifferentiated marketing Unselected Concentrated marketing

Local marketing

Which of the following descriptions best represents targeting a demographic​ segment? Pairing Token: fc91-5bdf

Marketing prepackaged lunches for children

What are the three broad targeting strategies used by​ marketers? A. Mass​ marketing, differentiated​ marketing, and concentrated marketing B. Mass​ marketing, undifferentiated​ marketing, and micromarketing C. Differentiated​ marketing, concentrated​ marketing, and micromarketing D. Mass​ marketing, differentiated​ marketing, and micromarketing E. Undifferentiated​ marketing, differentiated​ marketing, and concentrated marketing

Mass​ marketing, differentiated​ marketing, and micromarketing

Which of the following statements regarding positioning is​ correct? A. Abruptly changing a position is an effective strategy when consumer needs change. B. Establishing a position usually takes a very short amount of time. C. Positions must adapt over time to meet changing consumer needs. D. Once​ established, a strong position is never lost. E. Once a positioning strategy is​ identified, it is typically very easy to implement.

Positions must adapt over time to meet changing consumer needs.

What is product position? Unselected An advantage over competitors gained by offering greater customer value, either by having lower prices or by providing more benefits that justify higher prices Unselected The place the product occupies in consumers' minds relative to competing products Unselected The full positioning of a brand — the full mix of benefits on which it is positioned Unselected A statement that summarizes company or brand positioning

The place the product occupies in consumers' minds relative to competing products

Competitive advantage is __________. Unselected the full positioning of a brand — the full mix of benefits on which it is positioned Unselected a statement that summarizes company or brand positioning Unselected an advantage over competitors gained by offering greater customer value, either by having lower prices or by providing more benefits that justify higher prices Unselected defined by consumers on important attributes — the place the product occupies in consumers' minds relative to competing products

an advantage over competitors gained by offering greater customer value, either by having lower prices or by providing more benefits that justify higher prices

Positioning involves __________. Unselected dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes Unselected differentiating the market offering to create superior customer value Unselected evaluating each market segment's attractiveness and selecting one or more segments to enter Unselected arranging a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

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

Which base of segmentation divides buyers into segments based on their​ knowledge, attitudes,​ uses, or responses to a​ product? A. Behavioral B. Geographic C. Economic D. Psychographic E. Demographic

behavioral

_________ segmentation divides buyers into segments based on their​ knowledge, attitudes,​ uses, or responses to a product. A. Behavioral B. Gender C. Psychographic D. Occasion E. Demographic

behavioral

________ divides a market into segments based on consumer knowledge, attitudes, uses, or responses to a product. Unselected Occasion segmentation Unselected Income segmentation Unselected Psychographic segmentation Unselected Behavioral segmentation

behavioral segmentation

Amazon and GEICO set themselves apart with their​ smooth-functioning direct delivery strategy referred to as​ __________ differentiation. A. services B. product C. channel D. people E. image

channel

Psychographic segmentation divides buyers into different segments based on​ ________ A. lifestyle and personality B. lifestyle and income C. lifestyle and geography D. personality and income E. age and​ life-cycle stage

lifestyle and personality

Instead of going after a small share of a large​ market, a firm goes after a large share of a smaller niche segment. This type of marketing strategy is known as​ __________. A. undifferentiated marketing B. differentiated marketing C. segmented marketing D. micromarketing E. concentrated marketing

concentrated marketing

Intermarket segmentation is the segmenting of __________. Unselected consumers who have similar needs and buying behaviors even though they are located in different countries Unselected the market into different age and life-cycle groups Unselected the market according to the different benefits that consumers seek from the product Unselected consumers based on gender

consumers who have similar needs and buying behaviors even though they are located in different countries

When segmenting international​ markets, markets can be grouped according to​ language, religion,​ customs, and values. This type of segmentation is based on​ __________ factors. A. cultural B. psychographic C. geographic D. demographic E. economic

cultural

While Millennials are the primary target customer of the Atlanta Hawks, it is clear that the efforts of the organization to facilitate social media activity also appeals to other customer segments including Gen X and Baby Boomers. Thus, it is clear that the Hawks are employing a(n) __________________ targeting strategy.

differentiated

Which term refers to distinguishing the market offering to create superior customer value? Unselected Marketing segmentation Unselected Positioning Unselected Market targeting Unselected Differentiation

differentiation

Question Number 4) According to Gaby Barrios, marketers typically engage in categorizing consumers and "putting them into buckets" because __________________. a doing so can produce brand building results quickly. b it's a great way to build relationships with individual customers. c that is the method taught in business schools. d it facilitates the gathering of customer data. e in the marketing field, stereotyping is not frowned upon.

doing so can produce brand building results quickly

Which of the following is a claim that Gaby Barrios makes about gender-based marketing? Gender segmentation continues to be used widely because of carryover bias. b When marketers focus on gender as a means of segmenting markets, they are leaving money on the table. c As a segmentation factor, gender is less effective than almost anything else. d Gender-based marketing perpetuates false stereotypes about women. e All of these.

e All of these.

Which of the following describes market targeting? Unselected Differentiating the firm's market offering to create superior customer value Unselected Dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes Unselected Arranging a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers Unselected Evaluating each market segment's attractiveness and selecting one or more segments to enter

evaluating each market segment's attractiveness and selecting one or more segments to enter

In order to find what Barrios refers to as "disruptive growth," marketers must ______________________. a forget what they know about customer segments and start from scratch b learn everything that has been discovered about different customer segments and build upon that c segment markets using as few factors as possible d get to know customers by conducting focus groups e None of these

forget what they know about customer segments and start from scratch

__________ segmentation divides a market into nations, states, regions, counties, cities, or even neighborhoods. Unselected Demographic Unselected Gender Unselected Age and life-cycle Unselected Geographic

geographic

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? A. Concentrated marketing B. Differentiated marketing C. Individual marketing D. Undifferentiated marketing E. Local marketing

individual marketing

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​ __________. A. intermarket segmentation B. ​intra-market segmentation C. geographic segmentation D. cultural segmentation E. global segmentation

intermarket segmentation

Choosing a differentiated targeting strategy has many​ benefits, but a potential downside is that​ __________. A. offering one marketing mix can limit sales B. focusing on what is common in consumers can potentially appeal to the largest number of buyers C. the demand for customized products is decreasing D. serving one or a few smaller segments can limit sales E. it can increase costs

it can increase costs

The process of evaluating each market​ segment's attractiveness and selecting one or more market segments to enter is called ____. A. a​ customer-driven marketing strategy B. market segmentation C. positioning D. market targeting E. differentiation

market targeting

__________ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. Unselected Marketing segmentation Unselected Differentiation Unselected Positioning Unselected Market targeting

marketing segmentation

Which of the following divides a market into segments according to times when buyers get the idea to buy, actually make their purchase, or use the purchased item? Unselected Income segmentation Unselected Behavioral segmentation Unselected Psychographic segmentation Unselected Occasion segmentation

occasion segmentation

________ is an example of psychographic segmentation. Unselected Generation Unselected Personality Unselected Population density Unselected User status

personality

BMW says their cars are​ "The Ultimate Driving​ Machine". Ford trucks are​ "Built Ford​ Tough". Which type of differentiation do these examples​ represent? A. People differentiation B. Channel differentiation C. Services differentiation D. Product differentiation E. Image differentiation

product differentiation

Which differentiation strategy does the Atlanta Hawks seem to be employing?

product differentiation

​__________ segmentation divides buyers into different segments based on lifestyle or personality characteristics. A. Psychographic B. Benefit C. Income D. Gender E. Behavioral

psychographic

________ divides the market into different segments based on lifestyle or personality characteristics. Unselected Age and life-cycle segmentation Unselected Psychographic segmentation Unselected Geographic segmentation Unselected Gender segmentation

psychographic segmentation

The step in designing a customer value-driven marketing strategy in which a company divides a market into distinct groups of buyers is known as market​ __________. A. segmentation B. targeting C. identifying D. positioning E. differentiation

segmentation

What is another name for differentiated marketing? Unselected Segmented marketing Unselected Niche marketing Unselected Mass marketing Unselected Micromarketing

segmented marketing

What is micromarketing? Unselected Tailoring products and marketing programs to the needs and preferences of individual customers Unselected Tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments; it includes local marketing and individual marketing Unselected A market-coverage strategy in which a firm goes after a large share of one or a few segments or niches Unselected Tailoring brands and marketing to the needs and wants of local customer segments - cities, neighborhoods, and even specific stores

tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments; it includes local marketing and individual marketing

Gender-based marketing is an example of a niche marketing b target marketing c customer relationship management d marketing strategy e personalization

target marketing

Market​ __________ evaluates each market​ segment's attractiveness and selects one or more segments to serve. A. relationships B. targeting C. differentiation D. segmentation E. positioning

targeting

A value proposition is __________. Unselected a statement that summarizes company or brand positioning using this form: To (target segment and needs) our (brand) is (concept) that (point of difference) Unselected an advantage over competitors gained by offering greater customer value, either by having lower prices or by providing more benefits that justify higher prices Unselected the full positioning of a brand — the full mix of benefits on which it is positioned Unselected defined by consumers on important attributes — the place the product occupies in consumers' minds relative to competing products

the full positioning of a brand - the full mix of benefits on which it is positioned

The winning value proposition by discount stores such as Walmart and PetSmart can be categorized as​ __________. A. more for more B. the same for less C. more for less D. more for the same E. less for much less

the same for less

Using​ a(n) __________ marketing​ strategy, a firm might decide to ignore market segment differences. A. micromarketing B. undifferentiated C. differentiated D. individual E. local

undifferentiated

__________ is a market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer. Unselected Concentrated marketing Unselected Individual marketing Unselected Local marketing Unselected Undifferentiated marketing

undifferentiated marketing