bmkt 7

The Westlin Stamford Hotel in Singapore failed when it once advertised itself as the world's tallest hotel. This difference wasn't worth establishing bc it didn't satisfy which of these criteria? a. important b. communicate c. preemptive d. superior e. distinctive

A. important

Which of the following statements about segmentation is true? a. different segments might require different marketing strategies or mixes b. segmentation identifies individual buyers that can be targeted with a market offering c. most companies today mass market and don't segment their markets d. market segmentation is part of a company's value proposition e. buyers within a market segment have different needs, characteristics, and behaviors

Different segments might require different marketing strategies or mixes

One important consideration in using a differentiated targeting strategy is that ______ a. it can increase costs b. the demand for customized products is decreasing c. serving one or a few smaller segments can limit sales d. focusing on what is common in consumers can potentially appeal to the largest number of buyers e. it is easier for the company bc it needs to manage only one market offering

a. it can increase costs

What are perceptual positioning maps used for? a. to show consumer perceptions of different brands on important buying dimensions b. to show consumer perceptions of an individual brand on important buying dimensions c. to compare a company's profitability with the profitability of competitors d. to find where to best position a product on a store shelf e. to implement a particular positioning strategy

a. to show consumer perceptions of different brands on important buying dimensions

What is positioning? a. developing profiles of market segments b. selecting which segments to enter c. dividing a market into smaller groups of buyers d. selecting which customers to serve e. arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the mind of target consumers

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

Which value proposition is difficult to sustain in the LR? a. the same for less b. more for less c. more for more d. less for much less e. more for the same

b. more for less

____ segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses to a product a. occasion b. psychographic c. demographic d. behavioral e. gender

behavioral

If men and women respond similarly to the same marketing mix, they don't constitute different segments. Gender wouldn't be effective in this example because he segment is not _______. a. measurable b. substantial c. differentiable d. accessible e. actionable

c. differentiable

On the M&Ms website, users 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 picture. Which targeting strategy is M&M being here? a. undifferentiated marketing b. local markting c. individual marketing d. differentiated marketing e. concentrated marketing

c. individual marketing

When marketers target segments such as sports fans, do it yourselfers, commuters, and wine enthusiasts, which base of segmentation are they using? a. geographic segmentation b. demographic segmentation c. psychographic segmentation d. intermarket segmentation e. behavioral segmentation

c. psychographic segmentation

Toothpastes claim they "whiten teeth", "fight bad breath", and "reduce plaque". Which base of segmentation is being used in this example? a. psychographics b. geographic c. occasions d. benefits sought e. demographics

d. benefits sought

A colleague wanted to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your colleague? a. if a segment is larger than others, it should be targeted b. fast-growing segments are always attractive c. a segment is attractive if there are substitute products available d. carefully consider the degree of competition and ease of entry into the segment e. the power of buyers is not a consideration when evaluating the attractiveness of a segment

d. carefully consider the degree of competition and ease of entry into the segment

Anythinglefthanded.com.uk only sells products designed for​ left-handed people. Which targeting strategy is it​ using? a. differentiated marketing b. local marketing c. undifferentiated marketing d. concentrated marketing e. individual marketing

d. concentrated marketing

Using a(n) ______ marketing strategy, a firm might decide to ignore market segment differences a.micromarketing b. undifferentiated c. individual d. differentiated e. local

d.undifferentiated

Amazon and GEICO set themselves apart with their​ smooth-functioning direct delivery strategy referred to as​ __________ differentiation. a. product b. services c. image d. people e. channel

e. channel

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. segmented marketing b. differentiated marketing c. micromarketing d. undifferentiated marketing e. concentrated marketing

e. concentrated marketing

Which of the following statements regarding is correct? a. companies that segment based on income primarily target the affluent b. the use of demographics to segment markets has declined in recent years c. as gender roles have changed, gender is no longer a useful form of segmentation d. the business market is homogenous and isn't segmented e. consumer and business marketers use many similar variables, but business marketers use additional variable to segment their markets

e. consumer and business marketers use many similar variables, but business marketers use additional variables to segment their markets

A company can differentiate itself from competitors using symbols such as McDonalds Golden Arches, Twitters bird, etc. Which type of differentiation is this? a. channel differentiation b. people differentiation c. services differentiation d. product differentiation e. image differentiation

e. image differentiation

The winning value proposition by discount stores such as Walmart and Best Buy can be categorized as__________ a. more for the same b. less for much less c. more for more d. more for less e. the same for less

e. the same for less

____ segmentation divides buyers into different segments based on lifestyle or personality characteristics a. income b. gender c. behavioral d. psychographic e. benefit

psychographic

The step in designing a customer value-driven strategy n which a company divides a market into distinct groups of buyers in known as marker _____ a. segmentation b. positioning c. targeting d. differentiation e. identifying

segmentation

Market ______ evaluates each market segment's attractiveness and selects one or more segments to serve a. positioning b. relationships c. targeting d. segmentation e. differentiation

targeting

what is the purpose of differentiation? a. to market high quality products b. to allow a firm to offer the lowest prices c. to divide the market into smaller groups of buyers d. to select the segment or segments to enter e. to create superior customer value

to create superior customer value