Ch 6 BA 370

When effective programs can be designed for attracting and serving market​ segments, these segments are​ ________. Question content area bottom Part 1 A. accessible B. substantial C. actionable D. measurable E. differentiable

actionable

Firms with limited resources often target a market niche that is either ignored or unimportant to larger firms. This represents​ a(n) _______ strategy. Question content area bottom Part 1 A. micromarketing B. undifferentiated marketing C. mass marketing D. concentrated marketing E. differentiated marketing

concentrated marketing

____________________ is part of a​ company's decision on how it will create market offerings to deliver superior customer value. Question content area bottom Part 1 A. Market targeting B. Market segmentation C. Differentiation D. Undifferentiated marketing E. Mass marketing

differentiation

Major variables used to segment consumer markets include which of the​ following? Question content area bottom Part 1 A. ​Geographic, demographic,​ psychographic, and psychological B. ​Geographic, demographic,​ psychographic, and behavioral C. ​Income, age,​ geographic, and lifestyle D. ​Ethnicity, geographic,​ gender, and income E. ​Income, gender,​ age, and ethnicity

. ​Geographic, demographic,​ psychographic, and behavioral

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. Question content area bottom Part 1 A. a set of possible​ differentiations; product features and benefits B. products or​ services; features and benefits C. positioning​ statements; advantages D. a set of​ products; advantages E. a set of possible​ differentiations; advantages

A. a set of possible​ differentiations; advantages

What are the four major steps in designing a customer​ value-driven marketing​ strategy, in the correct​ sequence? Question content area bottom Part 1 A. Market​ segmentation, market​ targeting, positioning, and differentiation B. Market​ segmentation, differentiation, market​ targeting, and positioning C. Market​ segmentation, market​ targeting, differentiation, and positioning D. Market​ targeting, market​ segmentation, differentiation, and positioning E. ​Positioning, market​ segmentation, market​ targeting, and differentiation

C. Market​ segmentation, market​ targeting, differentiation, and positioning

Like consumer​ markets, business markets are segmented. Which of the following describes the variables that marketers use to segment business​ markets? Question content area bottom Part 1 A. Operating​ characteristics, purchasing​ approaches, situational​ factors, and pricing B. Business​ demographics, operating​ characteristics, purchasing​ approaches, situational​ factors, and personal characteristics C. Operating​ characteristics, purchasing​ approaches, situational​ factors, and geographic variables D. Operating​ characteristics, purchasing​ approaches, situational​ factors, and demographics E. Operating​ characteristics, purchasing​ approaches, situational​ factors, usage​ rate, and demographics

B. Business​ demographics, operating​ characteristics, purchasing​ approaches, situational​ factors, and personal characteristics

What are perceptual positioning maps used​ for? Question content area bottom Part 1 A. To implement a particular positioning strategy B. To show consumer perceptions of different brands on important buying dimensions C. To find where to best position a product on a store shelf D. To show consumer perceptions of an individual brand on important buying dimensions E. To compare a​ company's profitability with the profitability of competitors

B. To show consumer perceptions of different brands on important buying dimensions

Although business marketers use many of the same variables to segment their​ markets, they also use some additional​ variables, such as​ ________, ____________.​ _________, and personal characteristics. Question content area bottom Part 1 A. customer operating​ characteristics, vendor selection​ processes, situational factors B. customer operating​ characteristics, purchasing​ approaches, situational factors C. customer operating​ characteristics, purchasing​ approaches, environmental factors D. customer operating​ characteristics, purchasing​ approaches, management factors E. customer operating​ characteristics, sales and proposal​ processes, situational factors

B. customer operating​ characteristics, purchasing​ approaches, situational factors

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. Question content area bottom Part 1 A. ​position, and tailor market offerings and messages B. reach them more​ efficiently, and tailor market offerings and messages C. reach them more​ efficiently, and differentiate products and services D. reach them more​ efficiently, and position products and services E. ​target, and tailor market offerings and messages

B. reach them more​ efficiently, and tailor market offerings and messages

Once segments have been​ identified, market​ ________ evaluates each​ segment's attractiveness and selects one or more to serve. Question content area bottom Part 1 A. positioning B. targeting C. segmentation D. differentiation E. micromarketing

B. targeting

There are four major variables that might be used in segmenting consumer markets. Those major variables are​ ________ variables. Question content area bottom Part 1 A. ​geographic, demographic,​ psychographic, and political B. ​geographic, demographic,​ political, and economic C. ​geographic, demographic,​ psychographic, and behavioral D. ​geographic, demographic,​ cultural, and behavioral E. ​geographic, demographic,​ economic, and behavioral

C. ​geographic, demographic,​ psychographic, and behavioral

To target the best market​ segments, the company first evaluates various factors related to market attractiveness. Of the​ following, which is NOT one of those​ factors? Question content area bottom Part 1 A. Evaluation of each​ segment's structural attractiveness B. Evaluation of each​ segment's growth characteristics C. Compatibility with company mission and vision D. Evaluation of each​ segment's size characteristics E. Compatibility with company objectives and resources.

Compatibility with company mission and vision

In which targeting strategy does a firm go after a large share of one or a few smaller​ segments? Question content area bottom Part 1 A. Mass marketing B. Undifferentiated marketing C. Micromarketing D. Differentiated marketing E. Concentrated marketing

Concentrated marketing

Market segmentation is the act of dividing a market into distinct groups of buyers who have​ ________ and who might require separate marketing strategies or mixes. Question content area bottom Part 1 A. ​needs, wants, and desires B. different​ needs, characteristics, or buying power C. primarily different behaviors D. different​ needs, characteristics, or behaviors E. different​ needs, characteristics,​ traits, and behaviors

D. different​ needs, characteristics, or behaviors

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. Question content area bottom Part 1 A. ​Positioning; segmentation B. ​Positioning; differentiation C. ​Differentiation; segmentation D. ​Differentiation; positioning E. ​Positioning; target marketing

D. ​Differentiation; positioning

What is market​ segmentation? Question content area bottom Part 1 A. Arranging for a market offering to occupy a​ clear, distinctive, and desirable place relative to competing products in the minds of target consumers B. Dividing a market into distinct groups of buyers who have different​ needs, characteristics, or behaviors and who might require separate marketing strategies or mixes C. Differentiating the​ firm's market offering to create superior customer value D. Marketing to a mass market of homogenous buyers E. Evaluating each market​ segment's attractiveness and selecting one or more market segments to enter

Dividing a market into distinct groups of buyers who have different​ needs, characteristics, or behaviors and who might require separate marketing strategies or mixes

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​ ________________________. Question content area bottom Part 1 A. sustainability strategies and market variability B. distribution characteristics and competitive marketing strategies C. product development strategies and competitive marketing strategies D. market variability and sales strategies E. market variability and competitive marketing strategies

E. market variability and competitive marketing strategies

Question content area top Part 1 To determine which market segments to target and​ serve, the company first evaluates each​ segment's ________. Question content area bottom Part 1 A. size and growth characteristics and structural attractiveness B. size and growth characteristics and compatibility with company objectives and resources C. compatibility with company objectives and resources D. size and growth characteristics E. size and growth​ characteristics, structural​ attractiveness, and compatibility with company objectives and resources

E. size and growth​ characteristics, structural​ attractiveness, and compatibility with company objectives and resources

Once market segments have been​ selected, the company then must decide on​ _____________________________. Question content area bottom Part 1 A. differentiation and positioning strategy B. target market strategies C. mission and vision D. positioning map E. unique value proposition

Question content area bottom Part 1 A. differentiation and positioning strategy

One important consideration in using a differentiated targeting strategy is that​ _______. Question content area bottom Part 1 A. it is easier for the company because it only needs to manage one market offering B. the demand for customized products is decreasing C. it can increase costs D. focusing on what is common in consumers can potentially appeal to the largest number of buyers E. serving one or a few smaller segments can limit sales

it can increase cost

Once a company has decided which segments to​ enter, it must decide on its​ ________ strategy. Question content area bottom Part 1 A. financial and revenue B. advertising and sales promotion C. positioning and differentiation D. sales and marketing E. channel and distribution

positioning and differentiation

The full positioning of a brand is called the​ brand's ________, which is the full mix of benefits on which a brand is differentiated and positioned. Question content area bottom Part 1 A. benefit proposition B. differentiation statement C. overall brand strategy D. positioning statement E. value proposition

value proposition

The​ ________________________ is a​ brand's full positioning or the full mix of benefits on which the brand is positioned. Question content area bottom Part 1 A. target marketing strategy B. differentiation strategy C. value proposition D. positioning map E. ​brand's personality and voice

value proposition