Marketing Test 1 - chapter 4
marketing segmentation is different from the naming process in that it focuses on __ rather than __ in customer needs.
similarities; differences
An important role of marketing managers is to get the firm to focus on ___ target markets
specific
Because product-markets can have many _____, marketers must choose between several possible target markets
submarkets
Multiple target market approach
Segmenting the market and choosing two or more segments, then treating each as a separate, then treating each as a separate target market needing a different marketing mix.
Market
a group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services - that is, way of satisfying those needs.
the most significant factor in determining whether to segment or combine markets is..
profit
Which of the following are categories of dimensions used to segment organizational markets?
buying situation, purchasing methods, kind of relationship
Firms often turn to ____-aided methods for help with segmentation
computer
modern clustering techniques benefit from the use of
computers
the relevant market for finding opportunities should be
more broadly defined than the firm's current product-market. defined narrowly enough to allow the firm to relevant competitor.
It is important for firms to seek opportunities that align with the company's _____ and _____ when defining a market.
resources; objectives
for a busy person choosing between various breakfast options, a determining dimension might be whether...
the food can be eaten on the go
When choosing segmenting dimensions to target, a marketing manager must consider...
the potential for negative publicity his or her own view the views of various social groups
benefits of the segmenter approach?
customers willing to pay higher prices, larger share of the target market strong customer relationships greater sales higher profits reduced competition
In comparison with domestic markets, data in international markets is often less...
dependable; available
In a production market, segmenting dimensions that influence a customer's decision to purchase a specific product are called
determining dimensions
understanding positioning directly aids in which part of the marketing strategy?
differenctiation
Disaggregating during the naming of a broad product market includes which of the following...
dividing customers needs into generic markets and product-markets identifying potential profitable product-markets given the firm's resources and experience
T or F: it is usually safer for marketers to try to satisfy many customers fairly well.
false
Combiners
firms that try to increase the size of their target markets by combining two or more segments.
Nourishing is an example of basic _______ benefit that a product might provide.
functional
A ____ market consists of customers with generally similar needs and may different options for satisfying them.
generic
Beverage enthusiasts might purchase a wine club membership, buy an espresso machine, or book a trip to Japan to tour green tree plantations. This is an example of an ____ market
generic
Terms related to product type would not be included in a ____ market description
generic
when a marketing manager thinks about the needs customers want satisfied, rather than how one product beats another, this marketing manager is looking more broadly at the ____ market
generic
A market description that does not include any product-type terms is a(n)
generic market description
If a firm decides that it will offer its product in the North American market, it has defined the ____ _____ of its marketing strategy
geographic area
which of the following are general categories of segmenting dimensions in consumer markets?
geographic, behavioral, demographic
which of the following are potential benefits to using the segmented approach?
greater sales, higher profits, reduced competition
Which of the following are marketing processes used by combiners?
grouping similar customers across multiple submarkets into a single target market. developing a marketing mix that appeals fairly well to customers across multiple submarkets.
Adding the step of segmenting a country or region for international marketing efforts has which of the following effects on the segmentation process?
helps identify national markets helps identify regional markets Identifies sub-markets that are similar
customers in different market segments are considered ____ when there are significant differences between their segmenting dimensions and responses to marketing mix variables
heterogeneous
The criteria for broad product-market segmentation include which of the following?
heterogeneous segments, large enough to be profitable, homogeneous within segments, operational or useful dimensions.
A common response by firm to the lack of critical data in international markets is to
hire native to handle local operations
In regards to positioning, a marketing manager should understand which of the following?
how customers think about brands in a market how he or she wants customers to think about the firms marketing mix.
which of the following is not a potential benefit of the segmented approach?
marketing mixes appeal to multiple target markets
A group of people can be considered a market if....
they have similar needs. they are willing to change something of value to satisfy their needs.
an ideal product-market description should include ____ customer dimensions plus one product the description
three
How many steps are there in the market segmentation process?
2
since broad product-markets can have many submarket, target marketers have....
A choice among many possible target markets
Generic market
A market with broadly similar needs - and sellers offering various and often diverse ways of satisfying those needs.
Product-market
A market with very similar needs - and sellers offering various close substitute ways of satisfying those needs.
Market segmentation
A two-step process of (1) naming broad product-markets and (2) segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes
Segmenters
Aim at one or more homogeneous segments and try to develop a different marketing mix for each segment
Positioning
An approach that refers to how customers thing about proposed or present brands in a market
Customer relationship management (CRM)
An approach where the seller fine-tunes the marketing effort with information from a detailed customer database.
Clustering techniques
Approaches used to try to find similar patterns within sets of data
Which segmenting dimension are the most important in marketing planning, qualifying dimensions or determining dimensions?
Both qualifying and determining dimensions are important to marketing planning.
Which of the following are qualities of "good" market segments?
Customers within a market segment have similar characteristics and responses to marketing mix variables. Customers in different market segments have significant differences in characteristics and responses to marketing mix variables. The dimensions used to define the marketing segment help identify potential customers and effective marketing mix variables. The market segment is broad enough to be profitable for the firm.
Which of the following allow marketers to provide superior value to a group of potential customers?
cluster analysis CRM segmentation
t:f generic markets focus primarily on product type
false
according to the criteria for good market segments, customers within a single market segment should be ____, while customers in different market segments should be ____
Homogeneous; heterogeneous
Combined target market approach
combining two or more submarkets into one larger target market as a basis for one strategy.
The apple iPhone meets a target market's needs for a simple use and versatile smartphone. By differentiating the iPhone and meeting its target market;s needs better than its competition, Apple has built a ....
competitive advantage
A successful product-market definition will...
define the scope of the market in which the firm will compete. help to focus and sharpen a firm's marketing strategy
fun is an example of an ____ benefit that a customer might require from a product
emotional
Because no single firm can meet every possible customer need, firms must ____ during the disaggregation step.
identify broad product-markets where the firm can operate profitably
The major product benefits describes in a positioning statement should be...
important to the target market. unique to the brand.
an example of a ____ dimension of a customer wishing to purchase a vehicle could be the consumer's income level.
qualifying
the core benefits required by al consumers in a product market are identified by the ______ dimensions
qualifying
Cultural difference that may complicate the segmenting process include which of the following?
race customs religion.
it is important for firms to seek opportunities that align with the company's ___ and ___ when defining a market
resources; objectives
Which of the following is not considered a possible segmenting dimension for customer markets?
vendor bids
The expected end user of a product type is referred to as the....
customer type
Which of the following steps is commonly added to the segmentation process by international firms?
segment by country or region
Which of the following factors determine which marketing approach a firm should use?
customer similarities, the firms resources the nature of the competition
Single target market approach
Segmenting the market and picking one of the homogeneous segment as the firm's target market.
market segment
a relatively homogeneous group of customers who will respond to a marketing mix in a similar way.
CRM or customer relationship management
allows marketers to fine tune their efforts using data from a detailed customer database
Segmenting
an aggregating process that clusters people with similar needs into a market segment
In the situation of a consumer purchasing a new automobile, each of the following could be a qualifying dimension except...
appearance
purchasing methods, type of buying situation, and type of customer are all dimensions used to segment an _________ market.
buisness
The most important factor in determining which marketing approach to use including which of the following?
buying behaviors customer needs customer attitudes
In international marketing, ____ differences such as language and customers can complicate segmentation efforts
cultural
The most important factors in determining which market approach to use include which of the following?
customer attitudes, customer needs, buying behaviors
a marketing manager attempting to segment a market using two demographic characteristics is likely to fail because
customer behavior cannot be explained using such a narrow segmenting criteria
Market definitions for both a product market ant a generic market have which of the following in common?
customer needs customer type geographic area
Which of the following are ethical issues that may arise when selecting segmenting dimensions?
marketing unhealthy foods to kids. targeting the disadvantaged with expensive goods. marketing infant formula to less developed countries.
The market segmentation process consists of which of the following?
naming broad product markets, segmenting broad product markets into select target markets.
the most important criteria for a good market segment is that it should be
operational
which of the following is not part of a complete product-market definition?
organization type
A weakness of positioning analysis is that it can
overlook customer-related dimensions like needs and attitudes.
which of the following might be revealed by clustering techniques?
past buying behavior, attitudes toward the product demographic characteristics.
Positions maps use customers ______ to develop a "product space" picture of the market.
perceptions
Examples of determining dimensions when segmenting a market for customers looking to purchase a vehicle could include:
perfomance, appearance, level of safety
CRM helps marketers to
personalize their marketing strategy
A _____ statement provides an exact picture of the firms product offerings, target market, and differentiation strategy.
positioning
In a market where customers conducer competitors to be very similar, it is important to understand ____, which refers to how customers feel or think about various brands.
positioning
market segmentation requires that the marketing manager decide which ___ might be useful for marketing mix planning
product - market dimensions
Production-orientation marketing focuses on the ______ and not the _____
product ; customer
BetterBack chairs creates an office chair model specifically designed for customers who have back problems. By operating as a segmenter, BetterBack can
provide superior value to customers
Many managers' initial efforts at segmentation do not work out because they often...
segment the market too narrowly, using just a few demographic characteristics.
Marketers that develop a different marketing mix for each homogeneous market segment are known as
segmenters
After a computer clusters groups of people together, marketers look for...
segmenting dimensions that apply to everyone in the cluster
As a marketer, it is usually safer to try to satisfy the needs of a
small group of customers very well
Adding an additional step to the marketing segmentation process for international markets aids in identifying regional or nation _____ that are fairly similar
submarkets
Determining dimensions
the dimensions that actually affect the customer's purchase of a specific product or brand in a product-market
qualifying dimensions
the dimensions that are relevant to including a customer type in a product-market
A highly personalized marketing approach considers each customer to be...
their own individual segment.
P & G utilizes a segmented approach to marketing, with separate marketing mixes for different target markets. They are successful in part because...
they are a large firm with significant resources