Marketing Exam 6

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

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

Compared with undifferentiated marketing, differentiated marketing is more likely to lead to ________.

higher costs of doing business

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

mass marketing

Eastline, a manufacturer of outdoor patio furniture, positions its products as superior in weatherproofing and durability. This is an example of ________ differentiation.

product

Bass Pro Shops recognizes that outdoors enthusiasts are a diverse group. Likely segments include hunters, campers, and boaters. What is this segmentation method called?

psychographic

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

Market segmentation

________ 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 product positioning?

To simplify the buying process, consumers are likely to position products in their minds.

Port Orleans Shipping 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